18811 Washtenaw St · Harper Woods, MI 48225

$99,900

4 bd · 2.0 ba · 1,691 sqft · SingleFamily public records · 29 Days on market

Built 1940 5,227 sqft lot Est $123k · 19% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• Rent growth +3.8/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Mostly renovated home on large corner lot! This house has most of the major projects done! New kitchen, flooring, and bathrooms in 2024. Immediate occupancy offered, but home is NOT move-in ready. Will require sewer line repairs, repair to rear bedroom slab, mold remediation in rear bedroom and garage will either need to be torn down or reinforced. Subject to short sale approval.

Key facts

• 5,227 sq ft lot
• 4 garage spots
• Built 1940

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $380 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.9% 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-.
• Harper Woods School District (suburban): math 4% / reading 15% proficiency, ranked #524 of 540 in MI (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.1%/yr); 134 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 32y ago; this cycle's ask has dropped $40k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $98,401 (1.5% below list)

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.44% ✓
• Cap rate: 10.86%
• Cash-on-cash: 16.32%
• DSCR: 1.73
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $123,443
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18932 Washtenaw St	0.05mi	3/2.0 (-1)	1,713 (+1%)	6mo	$87,000	$51	85
19009 Woodland St	0.38mi	3/2.0 (-1)	1,720 (+2%)	2mo	$106,000	$62	72
19130 Kenosha St	0.17mi	3/1.5 (-1)	1,502 (-11%)	2mo	$110,000	$73	65
19141 Woodcrest St	0.35mi	3/1.0 (-1)	1,610 (-5%)	7mo	$143,500	$89	61
12058 Wayburn St	0.46mi	3/1.5 (-1)	1,566 (-7%)	2mo	$143,000	$91	57
19415 Moross Rd	0.38mi	4/2.0	1,462 (-14%)	7mo	$148,500	$102	54
16200 Novara St	0.39mi	3/1.0 (-1)	1,880 (+11%)	3mo	$35,000	$19	52
15826 Coram St	0.55mi	5/2.0 (+1)	1,546 (-9%)	5mo	$127,500	$82	51
11912 Lakepointe St	0.48mi	5/2.0 (+1)	1,872 (+11%)	5mo	$150,000	$80	50
11460 Balfour Rd	0.71mi	3/1.0 (-1)	1,706 (+1%)	7mo	$90,000	$53	50
16286 E State Fair St	0.56mi	4/1.0	1,439 (-15%)	1mo	$99,900	$69	44
11775 Rossiter St	0.59mi	3/1.0 (-1)	1,906 (+13%)	2mo	$64,000	$34	40

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: 9.9%
• Equity multiple: 1.40×
• Total profit: $11,198
• Equity at exit: $14,895

10-year hold

• IRR: 20.8%
• Equity multiple: 2.95×
• Total profit: $54,480
• Equity at exit: $8,638

Cash invested: $27,972 (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: 134
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,438 high
• Mortgage (P&I): −$524
• Tax from tax record: −$190 /mo · $2,281/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $380

Break-even live

Break-even rent $956

Max offer price $99,900

Occupancy floor 69%

Sensitivity live

Price	-10% $437	-5% $409	+0% $380	+5% $352	+10% $324
Rent	-10% $267	-5% $324	+0% $380	+5% $437	+10% $494
Rate	-1.0pp $431	-0.5pp $406	base $380	+0.5pp $354	+1.0pp $328

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18530 Kingsville St Harper Woods, MI	3.0	1.5	1396	$1,375	$0.98	18d	1	0.22mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	16d	1	0.37mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	45d	1	0.37mi
19435 McCormick St Detroit, MI	3.0	2.0	1148	$1,300	$1.13	18d	1	0.38mi
15616 E 7 Mile Rd Detroit, MI	3.0	1.5	1150	$1,150	$1.00	18d	1	0.64mi
11911 Lansdowne St Detroit, MI	4.0	1.0	1350	$1,400	$1.04	45d	1	0.68mi
11620 Rossiter St Detroit, MI	3.0	1.0	1140	$1,200	$1.05	18d	1	0.70mi
11689 Wayburn St Detroit, MI	3.0	1.0	1142	$1,350	$1.18	45d	1	0.71mi
15604 Coram St Detroit, MI	3.0	1.0	1210	$1,000	$0.83	45d	1	0.72mi
16242 Bringard Dr Detroit, MI	3.0	1.0	1350	$1,300	$0.96	6d	1	0.83mi
11235 Roxbury St Detroit, MI	3.0	1.0	1062	$1,325	$1.25	18d	1	0.89mi
10870 Marne St Detroit, MI	3.0	1.0	1156	$1,100	$0.95	18d	1	0.90mi
20461 Kingsville St Harper Woods, MI	4.0	1.0	1100	$1,399	$1.27	16d	1	0.96mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	45d	1	1.06mi
15503 Edmore Dr Detroit, MI	3.0	1.0	1285	$1,100	$0.86	45d	1	1.14mi
9313 Harvard Rd Detroit, MI	3.0	1.5	1329	$1,200	$0.90	18d	1	1.18mi
10803 Roxbury St Detroit, MI	3.0	1.0	1150	$900	$0.78	21d	1	1.18mi
10030 Bishop St Detroit, MI	5.0	2.0	1721	$1,200	$0.70	18d	1	1.20mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	4d	1	1.25mi
9241 Boleyn St Detroit, MI	3.0	1.0	1350	$1,350	$1.00	45d	1	1.25mi
20926 Moross Rd Grosse Pointe, MI	3.0	1.0	1200	$1,350	$1.12	45d	1	1.28mi
11018 Whitehill St Detroit, MI	3.0	1.0	1146	$1,450	$1.27	12d	1	1.34mi
14504 Coram St Detroit, MI	3.0	1.0	1203	$1,175	$0.98	25d	1	1.35mi
9171 Bishop St Detroit, MI	4.0	1.0	1508	$1,300	$0.86	45d	1	1.36mi
14481 Maddelein St Detroit, MI	3.0	1.0	1200	$1,100	$0.92	45d	1	1.36mi
15000 Mayfield St Detroit, MI	3.0	1.0	1146	$970	$0.85	18d	1	1.37mi
9142 Yorkshire Rd Detroit, MI	5.0	1.5	1450	$1,700	$1.17	0d	1	1.39mi
6304 Bluehill St Detroit, MI	3.0	1.0	1088	$1,500	$1.38	45d	1	1.42mi
9635 Everts St Detroit, MI	4.0	2.0	1450	$1,650	$1.14	45d	1	1.42mi
6225 Oldtown St Detroit, MI	3.0	1.0	1330	$1,199	$0.90	18d	1	1.43mi
10813 Whitehill St Detroit, MI	3.0	1.0	1392	$1,350	$0.97	18d	1	1.46mi
6301 Lodewyck St Detroit, MI	3.0	1.0	1084	$1,300	$1.20	13d	1	1.48mi
6181 Neff Ave Detroit, MI	3.0	1.0	1102	$1,299	$1.18	19d	1	1.48mi

Listing history 16 events

1. 2025-11-21
   status Pending

   Show marketing remark (382 chars)

   Mostly renovated home on large corner lot! This house has most of the major projects done! New kitchen, flooring, and bathrooms in 2024. Immediate occupancy offered, but home is NOT move-in ready. Will require sewer line repairs, repair to rear bedroom slab, mold remediation in rear bedroom and garage will either need to be torn down or reinforced. Subject to short sale approval.

2. 2025-11-21
   status Pending 382-char remark

   Show marketing remark (382 chars)

   Mostly renovated home on large corner lot! This house has most of the major projects done! New kitchen, flooring, and bathrooms in 2024. Immediate occupancy offered, but home is NOT move-in ready. Will require sewer line repairs, repair to rear bedroom slab, mold remediation in rear bedroom and garage will either need to be torn down or reinforced. Subject to short sale approval.

3. 2025-10-30
   price $99,900 382-char remark

   Show marketing remark (382 chars)

   Mostly renovated home on large corner lot! This house has most of the major projects done! New kitchen, flooring, and bathrooms in 2024. Immediate occupancy offered, but home is NOT move-in ready. Will require sewer line repairs, repair to rear bedroom slab, mold remediation in rear bedroom and garage will either need to be torn down or reinforced. Subject to short sale approval.

4. 2025-10-29
   price $99,900
5. 2025-10-23
   listed $139,900 Active

   Show marketing remark (382 chars)

   Mostly renovated home on large corner lot! This house has most of the major projects done! New kitchen, flooring, and bathrooms in 2024. Immediate occupancy offered, but home is NOT move-in ready. Will require sewer line repairs, repair to rear bedroom slab, mold remediation in rear bedroom and garage will either need to be torn down or reinforced. Subject to short sale approval.

6. 2025-10-23
   listed $139,900 Active 382-char remark

   Show marketing remark (382 chars)

   Mostly renovated home on large corner lot! This house has most of the major projects done! New kitchen, flooring, and bathrooms in 2024. Immediate occupancy offered, but home is NOT move-in ready. Will require sewer line repairs, repair to rear bedroom slab, mold remediation in rear bedroom and garage will either need to be torn down or reinforced. Subject to short sale approval.

7. 2024-08-16
   soldstatus $156,000
8. 2024-07-18
   soldstatus $156,000 Sold 295-char remark

   Show marketing remark (295 chars)

   Welcome to this beautifully updated bungalow! This gem features a brand new kitchen with stunning granite countertops, two fully remodeled bathrooms, and fresh flooring and paint throughout. The cherry on top is the spacious finished 4-car garage. This home is move-in ready and waiting for you!

9. 2024-07-18
   soldstatus $156,000 Closed

   Show marketing remark (295 chars)

   Welcome to this beautifully updated bungalow! This gem features a brand new kitchen with stunning granite countertops, two fully remodeled bathrooms, and fresh flooring and paint throughout. The cherry on top is the spacious finished 4-car garage. This home is move-in ready and waiting for you!

10. 2024-06-20
    status Pending

    Show marketing remark (295 chars)

    Welcome to this beautifully updated bungalow! This gem features a brand new kitchen with stunning granite countertops, two fully remodeled bathrooms, and fresh flooring and paint throughout. The cherry on top is the spacious finished 4-car garage. This home is move-in ready and waiting for you!

11. 2024-06-20
    status Pending 295-char remark

    Show marketing remark (295 chars)

    Welcome to this beautifully updated bungalow! This gem features a brand new kitchen with stunning granite countertops, two fully remodeled bathrooms, and fresh flooring and paint throughout. The cherry on top is the spacious finished 4-car garage. This home is move-in ready and waiting for you!

12. 2024-06-14
    listed $150,000 Active 295-char remark

    Show marketing remark (295 chars)

    Welcome to this beautifully updated bungalow! This gem features a brand new kitchen with stunning granite countertops, two fully remodeled bathrooms, and fresh flooring and paint throughout. The cherry on top is the spacious finished 4-car garage. This home is move-in ready and waiting for you!

13. 2024-06-14
    listed $150,000 Active

    Show marketing remark (295 chars)

    Welcome to this beautifully updated bungalow! This gem features a brand new kitchen with stunning granite countertops, two fully remodeled bathrooms, and fresh flooring and paint throughout. The cherry on top is the spacious finished 4-car garage. This home is move-in ready and waiting for you!

14. 1994-09-29
    soldstatus $52,000
15. 1994-09-23
    soldstatus $52,000
16. 1994-04-05
    listed $54,500

ⓘ 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: $2,281 · $190/mo
• Projected year-2 tax: $2,281 · $190/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,255
• − Mortgage interest: −$5,596
• − Property taxes: −$2,281
• − Insurance: −$500
• − Repairs & maintenance: −$1,380
• − Management: −$1,380
• − Depreciation: −$2,906
• Taxable income: $3,211
• Est. tax owed @ 24.0%: −$771
• After-tax cash flow: $3,793/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: Harper Woods School District
• NCES district ID: 2617760
• Math proficiency: 4% ▼ -7.00%
• Reading proficiency: 15% ▼ -9.00%
• Median HH income: $46,155
• Composite: 8.8/100
• National rank: #9892
• State rank: #524 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: 16,098
• 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

+83.3% since first listed

16 events — show timeline

• 2025-11-21 Pending — REALCOMP
• 2025-11-21 Pending — MiRealSource-MiMLS
• 2025-10-30 Price Changed $99,900 MiRealSource-MiMLS
• 2025-10-29 Price Changed $99,900 REALCOMP
• 2025-10-23 Listed $139,900 MiRealSource-MiMLS
• 2025-10-23 Listed $139,900 REALCOMP
• 2024-08-16 Sold (Public Records) $156,000 Public Records
• 2024-07-18 Sold (MLS) $156,000 MiRealSource-MiMLS
• 2024-07-18 Sold (MLS) $156,000 REALCOMP
• 2024-06-20 Pending — MiRealSource-MiMLS
• 2024-06-20 Pending — REALCOMP
• 2024-06-14 Listed $150,000 MiRealSource-MiMLS
• 2024-06-14 Listed $150,000 REALCOMP
• 1994-09-29 Sold (Public Records) $52,000 Public Records
• 1994-09-23 Sold (MLS) $52,000 MiRealSource-MiMLS
• 1994-04-05 Listed $54,500 MiRealSource-MiMLS

Property tax history

+1.3%/yr

Latest (2025): $2,281 · -43.3% YoY. Source: county tax records.