20304 E Eight Mile Rd · Harper Woods, MI 48225

$135,900

3 bd · 1.5 ba · 1,008 sqft · SingleFamily public records · 77 Days on market

Built 1947 3,920 sqft lot $135/sqft · at area comps Est $139k · at est.

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +28.1/30.0
• DSCR +10.0/10.0
• ARV discount +8.4/15.0
• 1% rule +7.2/10.0
• Schools +5.7/10.0
• Rent growth +3.8/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Stunning Updated Ranch in Grosse Pointe SchoolsDiscover the perfect blend of value and charm in this beautifully updated 3-bedroom, 1.5-bathroom ranch located in the sought-after Grosse Pointe school district. Spanning 1,008 square feet of meticulously maintained living space, this home offers a functional layout designed for modern comfort. Step inside to find a bright kitchen and a spacious family room ideal for relaxation or hosting guests. The main level features three well-appointed bedrooms, including a primary suite with convenient access to the home's dual bath setup. Recent updates throughout ensure a move-in-ready experience, while the rear patio provides a private outdoor retreat for summer evenings. Situated in a prime Harper Woods location with easy access to local amenities, this property represents a 'super value' for homeowners and investors alike. Don't miss your chance to own a piece of this vibrant community!

Key facts

• 3,920 sq ft lot
• Built 1947
• Listed 77 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $136k.

Deal economics

• At list price, monthly cash flow is $427 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $136k).
• Recommended offer: $128k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 7.7% in Harper Woods — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 73/100 on livability (#199 in MI) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+, health & safety D+, schools D-.
• Grosse Pointe Public Schools (suburban): math 56% / reading 68% proficiency, ranked #24 of 540 in MI (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 13% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+5.1%/yr); 133 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 32% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $940 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 5.1% rent growth), your $38k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 23 sale attempts since 22y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,746 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.22% ✓
• Cap rate: 10.07%
• Cash-on-cash: 13.48%
• DSCR: 1.60
• GRM: 6.9

CMA / ARV

• ARV (median comp): $138,629
• List price: $135,900
• Delta: -1.97%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20842 Ridgemont Rd	0.34mi	3/1.0	1,001 (-1%)	3mo	$85,000	$85	79
20631 Chalon St	0.38mi	3/1.0	1,001 (-1%)	1mo	$255,000	$255	78
19820 Avalon St	0.60mi	3/1.0	1,013 (+0%)	2mo	$219,000	$216	68
20625 Avalon St	0.63mi	3/1.0	1,000 (-1%)	1mo	$161,445	$161	66
20624 Sunnyside St	0.57mi	3/1.0	1,025 (+2%)	5mo	$199,000	$194	64
20672 Fleetwood Dr	0.54mi	3/1.0	1,031 (+2%)	6mo	$115,000	$112	64
20688 Fleetwood Dr	0.55mi	3/1.0	1,053 (+4%)	3mo	$173,000	$164	62
20871 Van Antwerp St	0.46mi	2/1.5 (-1)	950 (-6%)	3mo	$170,000	$179	61
19921 Alger St	0.71mi	3/1.0	1,061 (+5%)	3mo	$230,000	$217	54
20223 Avalon St	0.60mi	3/1.0	931 (-8%)	7mo	$150,000	$161	52
19813 Rosedale St	0.67mi	3/2.0	909 (-10%)	3mo	$209,000	$230	48
2126 Ridgemont Rd	0.57mi	2/1.0 (-1)	892 (-12%)	6mo	$150,000	$168	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 5.1% rent growth · sell at horizon

5-year hold

• IRR: 5.8%
• Equity multiple: 1.23×
• Total profit: $8,753
• Equity at exit: $20,263

10-year hold

• IRR: 16.9%
• Equity multiple: 2.52×
• Total profit: $57,893
• Equity at exit: $11,750

Cash invested: $38,052 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Michigan: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit; mixed climate; Detroit/AA have some protections.

Methodology + full state rankings →

ZIP-level market 48225

• Rents YoY: 5.1%
• Active inventory: 133
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,652 high
• Mortgage (P&I): −$713
• Tax from tax record: −$109 /mo · $1,305/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $427

Break-even live

Break-even rent $1,111

Max offer price $135,900

Occupancy floor 69%

Sensitivity live

Price	-10% $504	-5% $466	+0% $427	+5% $389	+10% $350
Rent	-10% $297	-5% $362	+0% $427	+5% $493	+10% $558
Rate	-1.0pp $496	-0.5pp $462	base $427	+0.5pp $392	+1.0pp $356

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $33,975
• Closing costs: $4,077
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20270 Hollywood St Harper Woods, MI	3.0	1.0	1228	$1,650	$1.34	0d	1	0.05mi
20600 Balfour St Harper Woods, MI	1.0–2.0	1.0–2.0	971	$1,640	$1.69	0d	14	0.35mi
2175 Ridgemont Rd Grosse Pointe Woods, MI	2.0	1.0	1100	$1,300	$1.18	44d	1	0.53mi
20015 Lochmoor St Harper Woods, MI	3.0	1.0	1006	$1,500	$1.49	17d	1	0.63mi
2037 Vernier Rd Grosse Pointe Woods, MI	2.0	1.0	850	$1,350	$1.59	44d	1	0.69mi
1992 Hawthorne Rd Grosse Pointe Woods, MI	3.0	2.0	1071	$2,100	$1.96	11d	1	0.70mi
21727 California St Saint Clair Shores, MI	3.0	2.0	1368	$1,925	$1.41	0d	1	0.97mi
22126 Alger St Saint Clair Shores, MI	2.0	1.5	1060	$1,750	$1.65	11d	1	1.01mi
20625 Elizabeth St Saint Clair Shores, MI	3.0	2.0	1074	$1,895	$1.76	44d	1	1.03mi
22307 Greater Mack Ave St Clair Shores, MI	2.0	1.0	806	$1,195	$1.48	3d	1	1.15mi
23005 Kelly Rd Eastpointe, MI	2.0	1.0	850	$1,250	$1.47	24d	1	1.29mi
22615 Maxine St Saint Clair Shores, MI	3.0	1.0	950	$1,495	$1.57	0d	1	1.36mi
23124 Grove St Saint Clair Shores, MI	3.0	1.0	1129	$2,000	$1.77	0d	1	1.36mi
19152 Woodside St Harper Woods, MI	3.0	1.0	916	$1,500	$1.64	18d	1	1.44mi
22030 Cushing Ave Eastpointe, MI	3.0	2.0	1300	$1,650	$1.27	5d	1	1.48mi
22411 Oconnor St Saint Clair Shores, MI	2.0	1.0	950	$1,250	$1.32	44d	1	1.48mi
1150 Anita Ave Grosse Pointe Woods, MI	3.0	1.5	1129	$2,600	$2.30	11d	1	1.49mi
19661 Kenosha St Harper Woods, MI	3.0	2.0	1000	$1,400	$1.40	25d	1	1.50mi

Listing history 50 events

1. 2026-06-18
   days on market $135,900 Active 77 DOM
2. 2026-06-17
   days on market $135,900 Active 76 DOM
3. 2026-06-16
   days on market $135,900 Active 75 DOM
4. 2026-06-15
   days on market $135,900 Active 74 DOM
5. 2026-06-13
   days on market $135,900 Active 72 DOM
6. 2026-06-13
   pricedays on market $135,900 Active 71 DOM
7. 2026-06-09
   days on market $140,000 Active 68 DOM
8. 2026-06-08
   days on market $140,000 Active 67 DOM
9. 2026-06-07
   days on market $140,000 Active 66 DOM
10. 2026-06-04
    days on market $140,000 Active 63 DOM
11. 2026-06-03
    days on market $140,000 Active 62 DOM
12. 2026-06-02
    days on market $140,000 Active 61 DOM
13. 2026-06-01
    days on market $140,000 Active 60 DOM
14. 2026-05-31
    days on market $140,000 Active 59 DOM
15. 2026-04-02
    listed $140,000 Active 941-char remark

    Show marketing remark (949 chars)

    Stunning Updated Ranch in Grosse Pointe Schools Discover the perfect blend of value and charm in this beautifully updated 3-bedroom, 1.5-bathroom ranch located in the sought-after Grosse Pointe school district. Spanning 1,008 square feet of meticulously maintained living space, this home offers a functional layout designed for modern comfort. Step inside to find a bright kitchen and a spacious family room ideal for relaxation or hosting guests. The main level features three well-appointed bedrooms, including a primary suite with convenient access to the home's dual bath setup. Recent updates throughout ensure a move-in-ready experience, while the rear patio provides a private outdoor retreat for summer evenings. Situated in a prime Harper Woods location with easy access to local amenities, this property represents a 'super value' for homeowners and investors alike. Don't miss your chance to own a piece of this vibrant community!

16. 2026-04-02
    listed $140,000 Active 949-char remark

    Show marketing remark (949 chars)

    Stunning Updated Ranch in Grosse Pointe Schools Discover the perfect blend of value and charm in this beautifully updated 3-bedroom, 1.5-bathroom ranch located in the sought-after Grosse Pointe school district. Spanning 1,008 square feet of meticulously maintained living space, this home offers a functional layout designed for modern comfort. Step inside to find a bright kitchen and a spacious family room ideal for relaxation or hosting guests. The main level features three well-appointed bedrooms, including a primary suite with convenient access to the home's dual bath setup. Recent updates throughout ensure a move-in-ready experience, while the rear patio provides a private outdoor retreat for summer evenings. Situated in a prime Harper Woods location with easy access to local amenities, this property represents a 'super value' for homeowners and investors alike. Don't miss your chance to own a piece of this vibrant community!

17. 2026-04-02
    listed $140,000 Active

    Show marketing remark (949 chars)

    Stunning Updated Ranch in Grosse Pointe Schools Discover the perfect blend of value and charm in this beautifully updated 3-bedroom, 1.5-bathroom ranch located in the sought-after Grosse Pointe school district. Spanning 1,008 square feet of meticulously maintained living space, this home offers a functional layout designed for modern comfort. Step inside to find a bright kitchen and a spacious family room ideal for relaxation or hosting guests. The main level features three well-appointed bedrooms, including a primary suite with convenient access to the home's dual bath setup. Recent updates throughout ensure a move-in-ready experience, while the rear patio provides a private outdoor retreat for summer evenings. Situated in a prime Harper Woods location with easy access to local amenities, this property represents a 'super value' for homeowners and investors alike. Don't miss your chance to own a piece of this vibrant community!

18. 2023-03-27
    soldstatus $119,900 Sold
19. 2023-03-27
    soldstatus $119,900 Closed
20. 2023-03-18
    status Pending
21. 2023-03-18
    status Pending
22. 2023-02-17
    price $119,900
23. 2023-02-17
    price $119,900
24. 2023-01-27
    price $129,900
25. 2023-01-27
    price $129,900
26. 2022-12-07
    listed $134,900 Active
27. 2022-12-07
    listed $134,900 Active
28. 2020-02-28
    soldstatus $273,000
29. 2020-02-26
    soldstatus $87,000
30. 2014-06-11
    soldstatus $850
31. 2014-06-03
    historical
32. 2014-04-18
    listed $850
33. 2014-02-21
    soldstatus $30,000
34. 2014-02-21
    soldstatus $30,000
35. 2014-02-14
    historical
36. 2014-02-13
    listed $35,000
37. 2014-01-27
    listed $35,000
38. 2010-02-12
    historical
39. 2010-02-12
    historical
40. 2010-01-08
    listed $55,000
41. 2010-01-08
    listed $55,000
42. 2009-12-31
    historical
43. 2009-12-31
    historical
44. 2009-09-17
    listed $55,000
45. 2009-09-17
    listed $55,000
46. 2009-07-06
    soldstatus $14,100
47. 2008-10-31
    listed $22,800
48. 2008-04-03
    historical
49. 2008-04-03
    historical
50. 2007-06-22
    listed $58,909

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MI · Partial reset (capped growth)

• Current annual tax: $1,305 · $109/mo
• Projected year-2 tax: $1,699 · $142/mo
• Expected delta: +$394/yr (+$33/mo · 30.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,829
• − Mortgage interest: −$7,613
• − Property taxes: −$1,305
• − Insurance: −$680
• − Repairs & maintenance: −$1,586
• − Management: −$1,586
• − Depreciation: −$3,953
• Taxable income: $3,107
• Est. tax owed @ 24.0%: −$746
• After-tax cash flow: $4,383/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Grosse Pointe Public Schools
• NCES district ID: 2625740
• Math proficiency: 56% ▼ -2.00%
• Reading proficiency: 68% ▲ 2.00%
• Median HH income: $89,975
• Composite: 56.51/100
• National rank: #1152
• State rank: #24 of 540 in MI

Livability — Harper Woods

• Score: 73/100
• State rank: #199
• US rank: #5054

Category grades

Amenities F Commute A+ Cost of living A+ Crime F Employment D+ Housing A+ Health & safety D+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Harper Woods, MI
• County: Wayne County · 1,562,939 people
• City population: 572,865
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 16,098
• Household income: $61,750
• Rent vs Own: 33.8% rent · 66.2% own
• Severe rent burden: 410.0

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 1,675,273 people
• By 2030: 1,620,300 · -3.3%
• By 2040: 1,502,341 · -10.3%
• By 2050: 1,384,039 · -17.4%
• By 2075: 1,124,592 · -32.9%
• By 2100: 881,193 · -47.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (65%)
• Race & ethnicity: Black 65% White 28% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Romanian 4% Lithuanian 1% German 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Arabic 2% Spanish 1%

Political lean MEDSL · Wayne

• 2024 margin: Strong D (+29.0) · D 62.7% · R 33.7% · Other 3.6%
• 2008→2024 swing: -20.5pp toward R · 2008: 49.5pp · 2024: 29.0pp
• All cycles: 2024: D+29.0 2020: D+38.1 2016: D+37.3 2012: D+46.9 2008: D+49.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -150.40%
• Current HPI: 181.4961
• Rent YoY: ▲ 5.10%
• Metro: Detroit-Warren-Dearborn, MI
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

Industry mix (Fortune 500 HQ in MI)

Industry	F500 HQs	Revenue
▸Automotive Parts	3	$48B
▸Automotive	2	$372B
▸Chemicals	1	$45B
▸Automotive Retail	1	$29B
▸Healthcare / Medical Devices	1	$23B
▸Automotive Technology	1	$20B

Price history

+40.0% since first listed

53 events — show timeline

• 2026-04-02 Listed $140,000 REALCOMP
• 2026-04-02 Listed $140,000 SW Michigan MLS
• 2026-04-02 Listed $140,000 MiRealSource-MiMLS
• 2023-03-27 Sold (MLS) $119,900 MiRealSource-MiMLS
• 2023-03-27 Sold (MLS) $119,900 REALCOMP
• 2023-03-18 Pending — MiRealSource-MiMLS
• 2023-03-18 Pending — REALCOMP
• 2023-02-17 Price Changed $119,900 MiRealSource-MiMLS
• 2023-02-17 Price Changed $119,900 REALCOMP
• 2023-01-27 Price Changed $129,900 MiRealSource-MiMLS
• 2023-01-27 Price Changed $129,900 REALCOMP
• 2022-12-07 Listed $134,900 MiRealSource-MiMLS
• 2022-12-07 Listed $134,900 REALCOMP
• 2020-02-28 Sold (Public Records) $273,000 Public Records
• 2020-02-26 Sold (Public Records) $87,000 Public Records
• 2014-06-11 Sold (MLS) $850 MiRealSource-MiMLS
• 2014-06-03 Listing Removed — MiRealSource-MiMLS
• 2014-04-18 Listed $850 MiRealSource-MiMLS
• 2014-02-21 Sold (MLS) $30,000 MiRealSource-MiMLS
• 2014-02-21 Sold (MLS) $30,000 REALCOMP
• 2014-02-14 Listing Removed — MiRealSource-MiMLS
• 2014-02-13 Listed $35,000 REALCOMP
• 2014-01-27 Listed $35,000 MiRealSource-MiMLS
• 2010-02-12 Listing Removed — REALCOMP
• 2010-02-12 Listing Removed — MiRealSource-MiMLS
• 2010-01-08 Listed $55,000 REALCOMP
• 2010-01-08 Listed $55,000 MiRealSource-MiMLS
• 2009-12-31 Listing Removed — MiRealSource-MiMLS
• 2009-12-31 Listing Removed — REALCOMP
• 2009-09-17 Listed $55,000 MiRealSource-MiMLS
• 2009-09-17 Listed $55,000 REALCOMP
• 2009-07-06 Sold (MLS) $14,100 REALCOMP
• 2008-10-31 Listed $22,800 REALCOMP
• 2008-04-03 Listing Removed — REALCOMP
• 2008-04-03 Listing Removed — MiRealSource-MiMLS
• 2007-06-22 Listed $58,909 REALCOMP
• 2007-06-22 Listed $58,909 MiRealSource-MiMLS
• 2007-05-16 Listing Removed — REALCOMP
• 2007-04-13 Listed $81,000 REALCOMP
• 2005-11-30 Listing Removed — REALCOMP
• 2005-11-30 Listing Removed — MiRealSource-MiMLS
• 2005-08-15 Listed $98,900 REALCOMP
• 2005-08-15 Listed $98,900 MiRealSource-MiMLS
• 2005-07-31 Listing Removed — MiRealSource-MiMLS
• 2005-07-31 Listing Removed — REALCOMP
• 2005-04-07 Listed $98,900 MiRealSource-MiMLS
• 2005-04-06 Listed $98,900 REALCOMP
• 2005-03-31 Listing Removed — REALCOMP
• 2004-12-27 Listed $98,900 REALCOMP
• 2004-12-08 Listing Removed — REALCOMP
• 2004-12-08 Listing Removed — MiRealSource-MiMLS
• 2004-09-16 Listed $100,000 REALCOMP
• 2004-09-08 Listed $100,000 MiRealSource-MiMLS

Property tax history

-4.4%/yr

Latest (2025): $1,305 · -70.3% YoY. Source: county tax records.