19724 Elkhart St · Harper Woods, MI 48225

$60,000

2 bd · 1.0 ba · 661 sqft · SingleFamily public records · 34 Days on market

Built 1941 4,792 sqft lot Est $80k · 25% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Income producing Aluminum/Vinyl sided 1 Story Ranch with basement in great area! The pictures are from just before the current tenant. This is a solid investment with a newer white kitchen, vinyl windows, the roof has been replaced and not original. Hardwood floors, updated bath, etc. .. This is an "AS-IS" sale and the owner will not make any repairs (not that any are known yto be necessary. ) There is easy access to parks, shops, restaurants, golf courses, I-94, etc so this is a real winner! AGENTS, Check the agent remarks or showing time for details on the current lease etc. SHOWN UPON ACCEPTED OFFER ONLY. DO NOT DISTURB TENANT. AGENTS, SEE AGENT REMARKS OR SHOWING TIME FOR OFFER LINK.

Key facts

• Vinyl windows
• Updated bath
• Newer white kitchen

Tags

• ALUMINUM VINYL SIDED
• NEWER WHITE KITCHEN
• VINYL WINDOWS
• REPLACED ROOF
• HARDWOOD FLOORS
• UPDATED BATH

Property features AI

Finance

• Other: Lot dimensions approximately 40 x 114 (0.11 acres)
• Financial info: No investor or income/expense details provided
• HOA & community: No HOA information provided

Exterior

• Parking: No garage
• Security: No security features provided
• Utilities: Public water; Public sewer
• Home design: Single family residence; One level; Ground-level entry
• Construction: Aluminum siding; Block foundation; Asphalt roof; Built prior to or in 2026 (year built not specified)
• Exterior features: Covered porch; Paved road access

Interior

• Kitchen: No kitchen appliance list provided
• Bedrooms: 4 total rooms (includes all rooms)
• Flooring: No flooring details provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No cooling
• Interior features: Gas water heater; Full, partially finished basement
• Laundry & utility: No laundry details provided

🏷️ Possibly a rental listed for sale. The $60,000 price doesn't fit this home's estimated sale value (~$79,981) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $384 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.0% 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; 7 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $415 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 + 5.1% rent growth), your $17k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 24y 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 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $58,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.75% ✓
• Cap rate: 13.97%
• Cash-on-cash: 27.42%
• DSCR: 2.22
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $79,981
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19380 Roscommon St	0.24mi	2/1.0	684 (+4%)	5mo	$100,500	$147	79
19404 Roscommon St	0.22mi	2/1.0	700 (+6%)	4mo	$85,000	$121	76
19670 Mccormick St	0.22mi	2/1.0	696 (+5%)	8mo	$55,000	$79	74
19379 Mccormick St	0.30mi	2/1.0	696 (+5%)	4mo	$118,900	$171	74
19139 Kenosha St	0.40mi	2/1.0	681 (+3%)	7mo	$95,000	$140	71
19331 Mccormick St	0.33mi	2/1.0	696 (+5%)	6mo	$20,000	$29	70
19455 Mccormick St	0.25mi	2/1.0	709 (+7%)	8mo	$29,000	$41	69
18933 Kingsville St	0.54mi	2/1.0	672 (+2%)	8mo	$72,000	$107	66
18996 Roscommon St	0.47mi	2/1.0	698 (+6%)	5mo	$98,000	$140	64
19305 Roscommon St	0.31mi	2/1.0	720 (+9%)	8mo	$89,500	$124	64
18700 Mccormick St	0.71mi	2/1.0	706 (+7%)	5mo	$63,000	$89	52
12505 Laing St	0.74mi	3/1.0 (+1)	752 (+14%)	3mo	$54,600	$73	35

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: 23.9%
• Equity multiple: 2.01×
• Total profit: $17,033
• Equity at exit: $8,946

10-year hold

• IRR: 33.2%
• Equity multiple: 4.34×
• Total profit: $56,187
• Equity at exit: $5,188

Cash invested: $16,800 (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: 4.8×

Monthly cashflow live

• Estimated rent: $1,053 high
• Mortgage (P&I): −$315
• Tax from tax record: −$108 /mo · $1,296/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $384

Break-even live

Break-even rent $567

Max offer price $60,000

Occupancy floor 59%

Sensitivity live

Price	-10% $418	-5% $401	+0% $384	+5% $367	+10% $350
Rent	-10% $301	-5% $342	+0% $384	+5% $425	+10% $467
Rate	-1.0pp $414	-0.5pp $399	base $384	+0.5pp $368	+1.0pp $353

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11529 Roxbury St Detroit, MI	2.0	1.0	720	$1,200	$1.67	13d	1	0.67mi
11611 Morang Ave Detroit, MI	1.0–2.0	1.0	709	$1,040	$1.47	45d	1	0.75mi
16241 Seven Mile E Unit 4 Detroit, MI	1.0	1.0	650	$650	$1.00	45d	1	0.84mi
12201 Morang Ave Unit 8 Detroit, MI	2.0	1.0	610	$875	$1.43	45d	1	0.91mi
21301 Kingsville St Apt 108 Harper Woods, MI	1.0	1.0	700	$900	$1.29	4d	1	0.91mi
9140 Whittier Ave Unit 1 Detroit, MI	1.0	1.0	550	$700	$1.27	45d	1	1.33mi
16927 Chandler Park Dr Unit 3_ Detroit, MI	1.0	1.0	600	$900	$1.50	16d	1	1.47mi

Listing history 38 events

1. 2026-06-17
   status $60,000 Pending 34 DOM
2. 2026-06-17
   days on market $60,000 Active 34 DOM
3. 2026-06-16
   days on market $60,000 Active 33 DOM
4. 2026-06-15
   days on market $60,000 Active 32 DOM
5. 2026-06-13
   days on market $60,000 Active 30 DOM
6. 2026-06-13
   days on market $60,000 Active 29 DOM
7. 2026-06-09
   days on market $60,000 Active 26 DOM
8. 2026-06-08
   days on market $60,000 Active 25 DOM
9. 2026-06-07
   days on market $60,000 Active 24 DOM
10. 2026-06-04
    statusdays on market $60,000 Active 21 DOM
11. 2026-06-03
    days on market $60,000 Active Under Contract 20 DOM
12. 2026-06-02
    days on market $60,000 Active Under Contract 19 DOM
13. 2026-06-01
    days on market $60,000 Active Under Contract 18 DOM
14. 2026-06-01
    status $60,000 Active Under Contract 17 DOM
15. 2026-05-31
    days on market $60,000 Active 17 DOM
16. 2026-05-14
    listed $60,000 Active 706-char remark

    Show marketing remark (706 chars)

    Income producing Aluminum/Vinyl sided 1 Story Ranch with basement in great area! The pictures are from just before the current tenant. This is a solid investment with a newer white kitchen, vinyl windows, the roof has been replaced and not original. Hardwood floors, updated bath, etc. .. This is an "AS-IS" sale and the owner will not make any repairs (not that any are known yto be necessary. ) There is easy access to parks, shops, restaurants, golf courses, I-94, etc so this is a real winner! AGENTS, Check the agent remarks or showing time for details on the current lease etc. SHOWN UPON ACCEPTED OFFER ONLY. DO NOT DISTURB TENANT. AGENTS, SEE AGENT REMARKS OR SHOWING TIME FOR OFFER LINK.

17. 2026-05-14
    listed $60,000 Active

    Show marketing remark (706 chars)

    Income producing Aluminum/Vinyl sided 1 Story Ranch with basement in great area! The pictures are from just before the current tenant. This is a solid investment with a newer white kitchen, vinyl windows, the roof has been replaced and not original. Hardwood floors, updated bath, etc. .. This is an "AS-IS" sale and the owner will not make any repairs (not that any are known yto be necessary. ) There is easy access to parks, shops, restaurants, golf courses, I-94, etc so this is a real winner! AGENTS, Check the agent remarks or showing time for details on the current lease etc. SHOWN UPON ACCEPTED OFFER ONLY. DO NOT DISTURB TENANT. AGENTS, SEE AGENT REMARKS OR SHOWING TIME FOR OFFER LINK.

18. 2025-05-21
    historical
19. 2025-05-15
    status Active
20. 2025-05-15
    status Active
21. 2025-05-04
    historical Accepting Backup Offers
22. 2025-05-04
    historical Active Under Contract
23. 2025-04-30
    listed $65,000 Active
24. 2025-04-30
    listed $65,000 Active
25. 2019-10-01
    soldstatus $55,000
26. 2017-01-11
    historical
27. 2017-01-06
    soldstatus $25,000 Sold
28. 2017-01-06
    soldstatus $25,000 Closed
29. 2016-11-17
    status Pending
30. 2016-11-17
    status Pending
31. 2016-10-14
    status Active
32. 2016-10-12
    historical
33. 2016-09-23
    listed $29,900 Active
34. 2016-09-23
    listed $29,900 Active
35. 2003-01-29
    soldstatus $47,500
36. 2002-11-13
    soldstatus $48,500
37. 2002-10-14
    historical
38. 2002-10-01
    listed $59,000

ⓘ 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: $1,296 · $108/mo
• Projected year-2 tax: $1,296 · $108/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 ≥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: $12,630
• − Mortgage interest: −$3,361
• − Property taxes: −$1,296
• − Insurance: −$300
• − Repairs & maintenance: −$1,010
• − Management: −$1,010
• − Depreciation: −$1,745
• Taxable income: $3,907
• Est. tax owed @ 24.0%: −$938
• After-tax cash flow: $3,669/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

+1.7% since first listed

23 events — show timeline

• 2026-05-14 Listed $60,000 REALCOMP
• 2026-05-14 Listed $60,000 MiRealSource-MiMLS
• 2025-05-21 Listing Removed — MiRealSource-MiMLS
• 2025-05-15 Relisted — MiRealSource-MiMLS
• 2025-05-15 Relisted — REALCOMP
• 2025-05-04 Contingent — MiRealSource-MiMLS
• 2025-05-04 Contingent — REALCOMP
• 2025-04-30 Listed $65,000 REALCOMP
• 2025-04-30 Listed $65,000 MiRealSource-MiMLS
• 2019-10-01 Sold (Public Records) $55,000 Public Records
• 2017-01-11 Listing Removed — MiRealSource-MiMLS
• 2017-01-06 Sold (MLS) $25,000 MiRealSource-MiMLS
• 2017-01-06 Sold (MLS) $25,000 REALCOMP
• 2016-11-17 Pending — MiRealSource-MiMLS
• 2016-11-17 Pending — REALCOMP
• 2016-10-14 Relisted — REALCOMP
• 2016-10-12 Listing Removed — REALCOMP
• 2016-09-23 Listed $29,900 MiRealSource-MiMLS
• 2016-09-23 Listed $29,900 REALCOMP
• 2003-01-29 Sold (Public Records) $47,500 Public Records
• 2002-11-13 Sold (MLS) $48,500 MiRealSource-MiMLS
• 2002-10-14 Listing Removed — MiRealSource-MiMLS
• 2002-10-01 Listed $59,000 MiRealSource-MiMLS

Property tax history

-2.8%/yr

Latest (2025): $1,296 · -46.7% YoY. Source: county tax records.