1473 University Ave · Lincoln Park, MI 48146

$72,500

1 bd · 1.0 ba · 490 sqft · SingleFamily public records · 30 Days on market

Built 1924 Est $111k · 35% 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 +8.0/10.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Challenging little BANK owned investment property. Savvy investors know what to do. .. major rehab or let's say we knock it down and build something nice, new & pretty? Priced to move fast - make an offer.

Key facts

• Built 1924
• Listed 29 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $72k.

Deal economics

• At list price, monthly cash flow is $278 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($939 rent vs $72k).
• Recommended offer: $71k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 6.5% in Lincoln 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 80/100 on livability (#82 in MI, #1,720 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools D-, crime F, employment D-.
• Lincoln Park School District (suburban): math 15% / reading 32% proficiency, ranked #440 of 540 in MI (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.7%/yr); 154 active listings in the ZIP; 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 $501 of loan paydown is wiped out by about $2k 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 + 4.7% rent growth), your $20k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($71k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y 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.
• Current owner paid $22k; list at $72k implies a 230% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $71,412 (1.5% below list)

Questions for the listing agent

1. Built in 1924 — 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: 1.30% ✓
• Cap rate: 10.89%
• Cash-on-cash: 16.41%
• DSCR: 1.73
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $111,230
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1710 Fort Park Blvd	0.43mi	1/1.0	528 (+8%)	2mo	$120,000	$227	65

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 · 4.65% rent growth · sell at horizon

5-year hold

• IRR: 9.2%
• Equity multiple: 1.37×
• Total profit: $7,511
• Equity at exit: $10,810

10-year hold

• IRR: 19.7%
• Equity multiple: 2.77×
• Total profit: $36,004
• Equity at exit: $6,268

Cash invested: $20,300 (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 48146

• Home prices YoY: -32.7%
• Rents YoY: 4.7%
• Active inventory: 154
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $939 medium
• Mortgage (P&I): −$380
• Tax from tax record: −$54 /mo · $649/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$197
• Net cashflow: $278

Break-even live

Break-even rent $588

Max offer price $72,500

Occupancy floor 65%

Sensitivity live

Price	-10% $319	-5% $298	+0% $278	+5% $257	+10% $237
Rent	-10% $203	-5% $241	+0% $278	+5% $315	+10% $352
Rate	-1.0pp $314	-0.5pp $296	base $278	+0.5pp $259	+1.0pp $240

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: $18,125
• Closing costs: $2,175
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $72,500 Active 30 DOM
2. 2026-06-18
   days on market $72,500 Active 27 DOM
3. 2026-06-17
   days on market $72,500 Active 26 DOM
4. 2026-06-16
   days on market $72,500 Active 25 DOM
5. 2026-06-15
   days on market $72,500 Active 24 DOM
6. 2026-06-13
   days on market $72,500 Active 22 DOM
7. 2026-06-13
   days on market $72,500 Active 21 DOM
8. 2026-06-09
   days on market $72,500 Active 18 DOM
9. 2026-06-08
   days on market $72,500 Active 17 DOM
10. 2026-06-07
    days on market $72,500 Active 16 DOM
11. 2026-06-04
    days on market $72,500 Active 13 DOM
12. 2026-06-03
    days on market $72,500 Active 12 DOM
13. 2026-06-02
    days on market $72,500 Active 11 DOM
14. 2026-06-01
    days on market $72,500 Active 10 DOM
15. 2026-05-31
    days on market $72,500 Active 9 DOM
16. 2026-05-23
    listed $72,500 Active
17. 2005-12-02
    soldstatus $22,000 211-char remark

    Show marketing remark (219 chars)

    REDUCED! Make an offer! Challenging little BANK owned investment property. Savvy investors know what to do. .. major rehab or let's say we knock it down and build something nice, new & pretty? Priced to move fast.

18. 2005-12-02
    soldstatus $22,000 219-char remark

    Show marketing remark (219 chars)

    REDUCED! Make an offer! Challenging little BANK owned investment property. Savvy investors know what to do. .. major rehab or let's say we knock it down and build something nice, new & pretty? Priced to move fast.

19. 2005-11-21
    historical 211-char remark

    Show marketing remark (211 chars)

    Challenging little BANK owned investment property. Savvy investors know what to do. .. major rehab or let's say we knock it down and build something nice, new & pretty? Priced to move fast - make an offer.

20. 2005-09-26
    listed $24,900 211-char remark

    Show marketing remark (219 chars)

    REDUCED! Make an offer! Challenging little BANK owned investment property. Savvy investors know what to do. .. major rehab or let's say we knock it down and build something nice, new & pretty? Priced to move fast.

21. 2005-09-26
    listed $24,900 219-char remark

    Show marketing remark (219 chars)

    REDUCED! Make an offer! Challenging little BANK owned investment property. Savvy investors know what to do. .. major rehab or let's say we knock it down and build something nice, new & pretty? Priced to move fast.

22. 1999-04-15
    soldstatus $22,000
23. 1992-06-18
    soldstatus $21,900

ⓘ 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: $649 · $54/mo
• Projected year-2 tax: $883 · $74/mo
• Expected delta: +$234/yr (+$19/mo · 36.0%)

ⓘ 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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,273
• − Mortgage interest: −$4,061
• − Property taxes: −$649
• − Insurance: −$362
• − Repairs & maintenance: −$902
• − Management: −$902
• − Depreciation: −$2,109
• Taxable income: $2,287
• Est. tax owed @ 24.0%: −$549
• After-tax cash flow: $2,783/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: Lincoln Park School District
• NCES district ID: 2621600
• Math proficiency: 15% ▼ -5.00%
• Reading proficiency: 32% ▬ 0.00%
• Median HH income: $41,486
• Composite: 19.93/100
• National rank: #8678
• State rank: #440 of 540 in MI

Livability — Lincoln Park

• Score: 80/100
• State rank: #82
• US rank: #1720

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lincoln Park, MI
• County: Wayne County · 1,562,939 people
• City population: 39,257
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 39,257
• Household income: $58,616
• Rent vs Own: 31.2% rent · 68.8% own
• Severe rent burden: 1142.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 60% Hispanic / Latino 25% Two or more races 12% Black 9% Native American 1%
• Hispanic origin (detail): Mexican 19% Puerto Rican 3%
• Common ancestry: Romanian 6% Lithuanian 4% Slovak 1%
• Foreign-born: 9% · Canada
• Languages at home: 80% English-only · Spanish 17% Arabic 2%

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: ▼ -108.25%
• Current HPI: 222.8545
• Rent YoY: ▲ 4.65%
• 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

+231.1% since first listed

8 events — show timeline

• 2026-05-23 Listed $72,500 FSBO.com
• 2005-12-02 Sold (MLS) $22,000 REALCOMP
• 2005-12-02 Sold (MLS) $22,000 MiRealSource-MiMLS
• 2005-11-21 Listing Removed — MiRealSource-MiMLS
• 2005-09-26 Listed $24,900 REALCOMP
• 2005-09-26 Listed $24,900 MiRealSource-MiMLS
• 1999-04-15 Sold (Public Records) $22,000 Public Records
• 1992-06-18 Sold (Public Records) $21,900 Public Records

Property tax history

-7.0%/yr

Latest (2025): $649 · -19.5% YoY. Source: county tax records.