57 Grove St · Highland Park, MI 48203

$20,900

3 bd · 1.0 ba · 1,348 sqft · SingleFamily public records · 192 Days on market

Built 1916 4,356 sqft lot $16/sqft · 69% below area

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTOR SPECIAL! CAPE COD PROPERTY LOCATED SOUTH OF W. MCNICHOLS AND WEST OF WOODWARD. THIS PROPERTY FEATURES A COVERED FRONT PORCH, LIVING ROOM, THREE BEDROOMS, ONE BATHROOM, AND AN UNFINISHED BASEMENT. PROPERTY IS SOLD AS-IS. ALL DIMENSIONS ARE ESTIMATED AND SHOULD BE VERIFIED. ALL SHOWINGS REQUIRE A LICENSED AGENT TO BE PRESENT. BUYER TO PAY DETROIT INVESTMENT CO A 295 PROCESSING FEE AT CLOSING.

Key facts

• Covered front porch
• Unfinished basement
• 4,356 sq ft lot

Tags

• COVERED FRONT PORCH
• UNFINISHED BASEMENT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $21k.

Deal economics

• At list price, monthly cash flow is $954 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $21k).
• Recommended offer: $18k (12.0% below list) — sets the bar for market timing.
• Cap rate 61.1% vs local median 14.2% in Highland Park — 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 (#214 in MI) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools F, crime F, employment F.
• Market conditions: 218 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 44% of the median local income ($38k/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 $144 of loan paydown is wiped out by about $627 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 + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 192 days — a 12% lower offer ($18k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 10y ago; this cycle's ask has dropped $2k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $18,392 (12.0% below list)

Questions for the listing agent

1. It's been on market 192 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1916 — 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 F-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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 6.67% ✓
• Cap rate: 61.07%
• Cash-on-cash: 195.64%
• DSCR: 9.71
• GRM: 1.3

CMA / ARV

• ARV (median comp): $67,438
• List price: $20,900
• Delta: -69.01%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
241 Moss St	0.40mi	3/1.0	1,300 (-4%)	3mo	$172,500	$133	73
220 Moss St	0.35mi	3/1.5	1,379 (+2%)	12mo	$186,000	$135	68
50 Eason St	0.26mi	3/1.5	1,162 (-14%)	1mo	$47,500	$41	62
361 Pilgrim St	0.61mi	2/1.0 (-1)	1,368 (+2%)	10mo	$8,000	$6	56
116 Church St	0.54mi	3/1.5	1,400 (+4%)	15mo	$106,500	$76	54
101 Stevens St	0.48mi	3/1.5	1,200 (-11%)	6mo	$75,000	$63	52
16570 Inverness St	0.69mi	4/2.0 (+1)	1,300 (-4%)	3mo	$120,000	$92	50
140 W Margaret St	0.70mi	3/1.0	1,258 (-7%)	8mo	$23,000	$18	50
326 Eason St	0.44mi	3/1.0	1,256 (-7%)	23mo	$37,000	$29	49
128 E Montana St	0.71mi	3/2.0	1,344 (-0%)	22mo	$179,900	$134	44
50 E Nevada St	0.70mi	3/2.5	1,465 (+9%)	15mo	$130,000	$89	34
194 Candler St	0.70mi	3/1.5	1,152 (-14%)	17mo	$27,500	$24	27

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 10.81×
• Total profit: $57,402
• Equity at exit: $3,116

10-year hold

• IRR: —
• Equity multiple: 22.93×
• Total profit: $128,322
• Equity at exit: $1,807

Cash invested: $5,852 (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 48203

• Home prices YoY: -23.3%
• Active inventory: 218
• Price-to-rent: 1.3×

Monthly cashflow live

• Estimated rent: $1,393 high
• Mortgage (P&I): −$110
• Tax from tax record: −$28 /mo · $339/yr
• Insurance: −$9
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $954

Break-even live

Break-even rent $186

Max offer price $20,900

Occupancy floor 27%

Sensitivity live

Price	-10% $966	-5% $960	+0% $954	+5% $948	+10% $942
Rent	-10% $844	-5% $899	+0% $954	+5% $1,009	+10% $1,064
Rate	-1.0pp $965	-0.5pp $959	base $954	+0.5pp $949	+1.0pp $943

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: $5,225
• Closing costs: $627
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17550 2nd Ave Detroit, MI	2.0	1.0	1350	$1,150	$0.85	18d	1	0.20mi
885 Covington Dr Unit 201 Highland Park, MI	2.0	2.0	1350	$1,695	$1.26	44d	1	0.38mi
326 Eason St Highland Park, MI	3.0	1.0	1256	$1,300	$1.04	18d	1	0.44mi
101 Stevens St Highland Park, MI	3.0	1.5	1152	$1,600	$1.39	18d	1	0.49mi
17666 Manderson Rd Unit 17666 Detroit, MI	2.0	1.0	1200	$1,595	$1.33	44d	1	0.50mi
17670 Manderson Rd Unit 17670 Detroit, MI	2.0	1.0	1199	$1,595	$1.33	44d	1	0.50mi
1029 Covington Dr Unit 1029 Detroit, MI	2.0	1.0	1200	$1,495	$1.25	44d	1	0.51mi
1031 Covington Dr Unit 1061 Detroit, MI	2.0	1.0	1200	$1,595	$1.33	44d	1	0.51mi
17765 Manderson Rd Unit 14 Highland Park, MI	2.0	1.0	1000	$1,175	$1.18	44d	1	0.59mi
17765 Manderson Rd Unit 8 Highland Park, MI	2.0	1.0	1000	$1,215	$1.22	2d	1	0.59mi
16927 Inverness St Detroit, MI	2.0	1.0	897	$1,650	$1.84	17d	1	0.69mi
242 Ferris St Highland Park, MI	3.0	1.0	1192	$1,275	$1.07	0d	1	0.82mi
574 W Golden Gate Highland Park, MI	3.0	1.0	1315	$1,300	$0.99	44d	1	0.84mi
2521 W McNichols Rd Unit B2 Detroit, MI	2.0	1.0	1300	$1,250	$0.96	44d	1	0.84mi
406 W Goldengate St Detroit, MI	2.0	1.0	1050	$1,100	$1.05	44d	1	0.85mi
404 W Golden Gate Highland Park, MI	2.0	1.0	1050	$1,100	$1.05	44d	1	0.85mi
16174 Princeton St Detroit, MI	2.0	1.0	985	$1,100	$1.12	20d	1	1.03mi
16174 Princeton St Unit 2 Detroit, MI	2.0	1.0	985	$1,100	$1.12	44d	1	1.03mi
27 Pasadena St Highland Park, MI	2.0	1.0	900	$825	$0.92	44d	1	1.07mi
15906 Alden St Detroit, MI	3.0	1.0	1030	$1,150	$1.12	17d	1	1.17mi
16834 Fairfield St Detroit, MI	2.0	1.0	1516	$1,363	$0.90	25d	1	1.28mi
168 Beresford St Highland Park, MI	4.0	1.0	1541	$1,475	$0.96	18d	1	1.37mi
1926 Clements St Detroit, MI	3.0	1.0	1150	$1,150	$1.00	6d	1	1.40mi
1926 Clements St Unit 1926 Detroit, MI	3.0	1.0	1150	$1,250	$1.09	21d	1	1.40mi
18503 Riopelle St Highland Park, MI	3.0	1.0	1254	$1,250	$1.00	6d	1	1.43mi
15345 Parkside St Detroit, MI	3.0	1.0	1152	$1,300	$1.13	44d	1	1.44mi
64 Glendale St Highland Park, MI	4.0	1.0	1464	$1,500	$1.02	11d	1	1.46mi

Listing history 27 events

1. 2026-03-24
   price $20,900 402-char remark

   Show marketing remark (402 chars)

   INVESTOR SPECIAL! CAPE COD PROPERTY LOCATED SOUTH OF W. MCNICHOLS AND WEST OF WOODWARD. THIS PROPERTY FEATURES A COVERED FRONT PORCH, LIVING ROOM, THREE BEDROOMS, ONE BATHROOM, AND AN UNFINISHED BASEMENT. PROPERTY IS SOLD AS-IS. ALL DIMENSIONS ARE ESTIMATED AND SHOULD BE VERIFIED. ALL SHOWINGS REQUIRE A LICENSED AGENT TO BE PRESENT. BUYER TO PAY DETROIT INVESTMENT CO A 295 PROCESSING FEE AT CLOSING.

2. 2026-03-23
   price $20,900 402-char remark

   Show marketing remark (402 chars)

   INVESTOR SPECIAL! CAPE COD PROPERTY LOCATED SOUTH OF W. MCNICHOLS AND WEST OF WOODWARD. THIS PROPERTY FEATURES A COVERED FRONT PORCH, LIVING ROOM, THREE BEDROOMS, ONE BATHROOM, AND AN UNFINISHED BASEMENT. PROPERTY IS SOLD AS-IS. ALL DIMENSIONS ARE ESTIMATED AND SHOULD BE VERIFIED. ALL SHOWINGS REQUIRE A LICENSED AGENT TO BE PRESENT. BUYER TO PAY DETROIT INVESTMENT CO A 295 PROCESSING FEE AT CLOSING.

3. 2026-01-30
   price $22,400 402-char remark

   Show marketing remark (402 chars)

   INVESTOR SPECIAL! CAPE COD PROPERTY LOCATED SOUTH OF W. MCNICHOLS AND WEST OF WOODWARD. THIS PROPERTY FEATURES A COVERED FRONT PORCH, LIVING ROOM, THREE BEDROOMS, ONE BATHROOM, AND AN UNFINISHED BASEMENT. PROPERTY IS SOLD AS-IS. ALL DIMENSIONS ARE ESTIMATED AND SHOULD BE VERIFIED. ALL SHOWINGS REQUIRE A LICENSED AGENT TO BE PRESENT. BUYER TO PAY DETROIT INVESTMENT CO A 295 PROCESSING FEE AT CLOSING.

4. 2026-01-29
   price $22,400 402-char remark

   Show marketing remark (402 chars)

   INVESTOR SPECIAL! CAPE COD PROPERTY LOCATED SOUTH OF W. MCNICHOLS AND WEST OF WOODWARD. THIS PROPERTY FEATURES A COVERED FRONT PORCH, LIVING ROOM, THREE BEDROOMS, ONE BATHROOM, AND AN UNFINISHED BASEMENT. PROPERTY IS SOLD AS-IS. ALL DIMENSIONS ARE ESTIMATED AND SHOULD BE VERIFIED. ALL SHOWINGS REQUIRE A LICENSED AGENT TO BE PRESENT. BUYER TO PAY DETROIT INVESTMENT CO A 295 PROCESSING FEE AT CLOSING.

5. 2025-11-18
   listed $22,900 Active 402-char remark

   Show marketing remark (402 chars)

   INVESTOR SPECIAL! CAPE COD PROPERTY LOCATED SOUTH OF W. MCNICHOLS AND WEST OF WOODWARD. THIS PROPERTY FEATURES A COVERED FRONT PORCH, LIVING ROOM, THREE BEDROOMS, ONE BATHROOM, AND AN UNFINISHED BASEMENT. PROPERTY IS SOLD AS-IS. ALL DIMENSIONS ARE ESTIMATED AND SHOULD BE VERIFIED. ALL SHOWINGS REQUIRE A LICENSED AGENT TO BE PRESENT. BUYER TO PAY DETROIT INVESTMENT CO A 295 PROCESSING FEE AT CLOSING.

6. 2025-11-18
   listed $22,900 Active 402-char remark

   Show marketing remark (402 chars)

   INVESTOR SPECIAL! CAPE COD PROPERTY LOCATED SOUTH OF W. MCNICHOLS AND WEST OF WOODWARD. THIS PROPERTY FEATURES A COVERED FRONT PORCH, LIVING ROOM, THREE BEDROOMS, ONE BATHROOM, AND AN UNFINISHED BASEMENT. PROPERTY IS SOLD AS-IS. ALL DIMENSIONS ARE ESTIMATED AND SHOULD BE VERIFIED. ALL SHOWINGS REQUIRE A LICENSED AGENT TO BE PRESENT. BUYER TO PAY DETROIT INVESTMENT CO A 295 PROCESSING FEE AT CLOSING.

7. 2024-07-14
   historical
8. 2024-07-14
   historical
9. 2024-06-05
   price $22,900
10. 2024-06-05
    price $22,900
11. 2024-05-03
    price $23,900
12. 2024-05-02
    price $23,900
13. 2024-01-26
    listed $25,900 Active
14. 2024-01-26
    listed $25,900 Active
15. 2019-11-22
    soldstatus $177,000
16. 2017-06-28
    historical
17. 2017-06-27
    historical
18. 2017-06-12
    listed $200 Active
19. 2017-06-09
    listed $200 Active
20. 2017-06-07
    historical
21. 2017-06-07
    historical
22. 2017-05-26
    listed $500
23. 2017-05-26
    listed $500
24. 2016-11-30
    historical
25. 2016-11-30
    historical
26. 2016-04-29
    listed $5,000
27. 2016-04-29
    listed $5,000

ⓘ 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: $339 · $28/mo
• Projected year-2 tax: $339 · $28/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,719
• − Mortgage interest: −$1,171
• − Property taxes: −$339
• − Insurance: −$104
• − Repairs & maintenance: −$1,337
• − Management: −$1,337
• − Depreciation: −$608
• Taxable income: $11,821
• Est. tax owed @ 24.0%: −$2,837
• After-tax cash flow: $8,612/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)

No district data.

Livability — Highland Park

• Score: 73/100
• State rank: #214
• US rank: #5271

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Highland Park, MI
• County: Wayne County · 1,562,939 people
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 20,049
• Household income: $38,404
• Rent vs Own: 48.7% rent · 51.3% own
• Severe rent burden: 1192.0

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 (85%)
• Race & ethnicity: Black 85% White 8% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% French/Haitian/Cajun 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: ▼ -90.13%
• Current HPI: 297.0176
• Rent YoY: —
• 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

+318.0% since first listed

27 events — show timeline

• 2026-03-24 Price Changed $20,900 MiRealSource-MiMLS
• 2026-03-23 Price Changed $20,900 REALCOMP
• 2026-01-30 Price Changed $22,400 MiRealSource-MiMLS
• 2026-01-29 Price Changed $22,400 REALCOMP
• 2025-11-18 Listed $22,900 REALCOMP
• 2025-11-18 Listed $22,900 MiRealSource-MiMLS
• 2024-07-14 Listing Removed — MiRealSource-MiMLS
• 2024-07-14 Listing Removed — REALCOMP
• 2024-06-05 Price Changed $22,900 MiRealSource-MiMLS
• 2024-06-05 Price Changed $22,900 REALCOMP
• 2024-05-03 Price Changed $23,900 MiRealSource-MiMLS
• 2024-05-02 Price Changed $23,900 REALCOMP
• 2024-01-26 Listed $25,900 MiRealSource-MiMLS
• 2024-01-26 Listed $25,900 REALCOMP
• 2019-11-22 Sold (Public Records) $177,000 Public Records
• 2017-06-28 Listing Removed — REALCOMP
• 2017-06-27 Listing Removed — MiRealSource-MiMLS
• 2017-06-12 Listed $200 MiRealSource-MiMLS
• 2017-06-09 Listed $200 REALCOMP
• 2017-06-07 Listing Removed — MiRealSource-MiMLS
• 2017-06-07 Listing Removed — REALCOMP
• 2017-05-26 Listed $500 MiRealSource-MiMLS
• 2017-05-26 Listed $500 REALCOMP
• 2016-11-30 Listing Removed — MiRealSource-MiMLS
• 2016-11-30 Listing Removed — REALCOMP
• 2016-04-29 Listed $5,000 MiRealSource-MiMLS
• 2016-04-29 Listed $5,000 REALCOMP

Property tax history

-12.5%/yr

Latest (2025): $339 · -18.5% YoY. Source: county tax records.