2324 Minnie St · Lincoln Park, MI 48146

$134,900

3 bd · 1.0 ba · 1,080 sqft · SingleFamily public records · 4 Days on market

Built 1950 4,356 sqft lot Est $184k · 27% under

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Why this score? — see what drove the C 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 +19.9/30.0
• ARV discount +15.0/15.0
• DSCR +6.3/10.0
• 1% rule +6.0/10.0
• 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

Comfortable and updated single-family home in the heart of Lincoln Park featuring modern touches, spacious living areas, move-in ready appeal, a secluded setting, and ample garage space. Property showings to occur with a Licensed Michigan Realtor Property is subject to probate Approval Buyer to assume city-required repairs

Key facts

• Single-family home
• Modern touches
• Secluded setting

Tags

• SINGLE-FAMILY HOME
• MODERN TOUCHES
• SPACIOUS LIVING AREAS
• SECLUDED SETTING

Property features AI

Exterior

• Parking: Detached garage; Driveway; Basement access to parking; One garage space
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two stories; Ground-level entry; Vinyl siding
• Construction: Brick/mortar foundation; Vinyl siding exterior
• Exterior features: Front porch; Paved road access

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Unfinished basement; Five total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $164 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Cap rate 7.8% vs local median 6.4% in Lincoln Park — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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); 151 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 30% of the median local income ($59k/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 $933 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.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 25y 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 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $134,900

Questions for the listing agent

1. Built in 1950 — 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: 1.10% ✓
• Cap rate: 7.75%
• Cash-on-cash: 5.21%
• DSCR: 1.23
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $183,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2359 Detroit Ave	0.05mi	3/1.0	1,080 (0%)	1mo	$196,000	$181	97
2366 Progress Ave	0.12mi	3/1.0	1,120 (+4%)	3mo	$145,000	$129	86
14576 Oceana Ave	0.32mi	3/1.0	1,042 (-4%)	2mo	$175,000	$168	78
15044 Oceana Ave	0.48mi	3/1.0	1,000 (-7%)	2mo	$195,000	$195	64
2071 Meyer Ct	0.48mi	3/1.5	999 (-8%)	2mo	$190,000	$190	61
9616 Colwell Ave	0.57mi	3/1.0	1,031 (-4%)	6mo	$175,000	$170	61
9949 Sterling Ave	0.70mi	3/1.5	1,050 (-3%)	3mo	$234,000	$223	58
2121 Buckingham Ave	0.61mi	3/1.0	1,012 (-6%)	4mo	$159,900	$158	58
2119 White Ave	0.71mi	3/1.0	1,000 (-7%)	1mo	$166,500	$167	54
1860 Pagel Ave	0.65mi	3/1.0	1,162 (+8%)	6mo	$160,000	$138	52
1836 Garfield Ave	0.72mi	2/1.0 (-1)	1,190 (+10%)	2mo	$135,000	$113	43
7208 Rosedale Blvd	0.58mi	3/2.0	1,214 (+12%)	7mo	$220,000	$181	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 · 4.65% rent growth · sell at horizon

5-year hold

• IRR: -6.2%
• Equity multiple: 0.77×
• Total profit: $-8,850
• Equity at exit: $20,114

10-year hold

• IRR: 5.5%
• Equity multiple: 1.44×
• Total profit: $16,602
• Equity at exit: $11,664

Cash invested: $37,772 (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: 151
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,478 high
• Mortgage (P&I): −$707
• Tax from tax record: −$240 /mo · $2,877/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $164

Break-even live

Break-even rent $1,270

Max offer price $134,900

Occupancy floor 84%

Sensitivity live

Price	-10% $240	-5% $202	+0% $164	+5% $126	+10% $88
Rent	-10% $47	-5% $106	+0% $164	+5% $222	+10% $281
Rate	-1.0pp $232	-0.5pp $198	base $164	+0.5pp $129	+1.0pp $94

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2235 Moore Rd Unit 1 Lincoln Park, MI	2.0	1.0	800	$1,000	$1.25	25d	1	0.34mi
9725 Fox Ave Allen Park, MI	3.0	1.5	940	$1,850	$1.97	44d	1	0.49mi
9814 Quandt Ave Allen Park, MI	3.0	2.0	1050	$1,800	$1.71	44d	1	0.85mi
9725 Ruth Allen Park, MI	3.0	1.5	1110	$1,800	$1.62	3d	1	0.85mi
1343 Pagel Ave Unit 2-Upper Lincoln Park, MI	2.0	1.0	1000	$1,250	$1.25	18d	1	1.15mi
1552 Hanover St Lincoln Park, MI	2.0	1.0	800	$1,250	$1.56	25d	1	1.17mi
15806 Meyer Ave Allen Park, MI	3.0	2.0	1100	$1,650	$1.50	2d	1	1.28mi
11400 Fordline St Allen Park, MI	1.0–2.0	1.0	880	$1,400	$1.59	0d	1	1.33mi
1760 Saint Johns Blvd Apt 14 Lincoln Park, MI	2.0	1.0	750	$995	$1.33	25d	1	1.40mi
1750 Saint Johns Blvd Unit 17 Lincoln Park, MI	2.0	1.0	750	$1,025	$1.37	25d	1	1.41mi
1532 Euclid St #1 Lincoln Park, MI	2.0	1.0	850	$1,450	$1.71	25d	1	1.42mi

Listing history 24 events

1. 2026-05-15
   status Pending 324-char remark

   Show marketing remark (324 chars)

   Comfortable and updated single-family home in the heart of Lincoln Park featuring modern touches, spacious living areas, move-in ready appeal, a secluded setting, and ample garage space. Property showings to occur with a Licensed Michigan Realtor Property is subject to probate Approval Buyer to assume city-required repairs

2. 2026-05-15
   status Pending

   Show marketing remark (324 chars)

   Comfortable and updated single-family home in the heart of Lincoln Park featuring modern touches, spacious living areas, move-in ready appeal, a secluded setting, and ample garage space. Property showings to occur with a Licensed Michigan Realtor Property is subject to probate Approval Buyer to assume city-required repairs

3. 2026-05-11
   listed $134,900 Active

   Show marketing remark (324 chars)

   Comfortable and updated single-family home in the heart of Lincoln Park featuring modern touches, spacious living areas, move-in ready appeal, a secluded setting, and ample garage space. Property showings to occur with a Licensed Michigan Realtor Property is subject to probate Approval Buyer to assume city-required repairs

4. 2026-05-11
   listed $134,900 Active 324-char remark

   Show marketing remark (324 chars)

   Comfortable and updated single-family home in the heart of Lincoln Park featuring modern touches, spacious living areas, move-in ready appeal, a secluded setting, and ample garage space. Property showings to occur with a Licensed Michigan Realtor Property is subject to probate Approval Buyer to assume city-required repairs

5. 2022-02-04
   soldstatus $155,000
6. 2012-07-05
   historical
7. 2012-07-05
   historical
8. 2012-06-06
   soldstatus $47,000
9. 2012-05-13
   soldstatus $47,000
10. 2012-01-07
    listed $49,000
11. 2012-01-07
    listed $49,000
12. 2012-01-07
    listed $49,000
13. 2009-11-25
    soldstatus $18,700
14. 2009-11-25
    soldstatus $18,700
15. 2009-11-04
    historical
16. 2009-08-11
    listed $18,700
17. 2009-08-11
    listed $18,700
18. 2002-01-25
    soldstatus $92,900
19. 2001-11-21
    soldstatus $92,900
20. 2001-11-21
    soldstatus $92,900
21. 2001-10-21
    historical
22. 2001-10-14
    listed $89,900
23. 2001-10-13
    listed $89,900
24. 1998-09-29
    soldstatus $42,500

ⓘ 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: $2,877 · $240/mo
• Projected year-2 tax: $2,877 · $240/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 ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,734
• − Mortgage interest: −$7,556
• − Property taxes: −$2,877
• − Insurance: −$674
• − Repairs & maintenance: −$1,419
• − Management: −$1,419
• − Depreciation: −$3,924
• Taxable loss: −$136
• Est. tax savings @ 24.0%: +$33
• After-tax cash flow: $2,002/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

+217.4% since first listed

24 events — show timeline

• 2026-05-15 Pending — MiRealSource-MiMLS
• 2026-05-15 Pending — REALCOMP
• 2026-05-11 Listed $134,900 REALCOMP
• 2026-05-11 Listed $134,900 MiRealSource-MiMLS
• 2022-02-04 Sold (Public Records) $155,000 Public Records
• 2012-07-05 Listing Removed — REALCOMP
• 2012-07-05 Listing Removed — MiRealSource-MiMLS
• 2012-06-06 Sold (Public Records) $47,000 Public Records
• 2012-05-13 Sold (MLS) $47,000 REALCOMP
• 2012-01-07 Listed $49,000 REALCOMP
• 2012-01-07 Listed $49,000 REALCOMP
• 2012-01-07 Listed $49,000 MiRealSource-MiMLS
• 2009-11-25 Sold (MLS) $18,700 MiRealSource-MiMLS
• 2009-11-25 Sold (MLS) $18,700 REALCOMP
• 2009-11-04 Listing Removed — MiRealSource-MiMLS
• 2009-08-11 Listed $18,700 MiRealSource-MiMLS
• 2009-08-11 Listed $18,700 REALCOMP
• 2002-01-25 Sold (Public Records) $92,900 Public Records
• 2001-11-21 Sold (MLS) $92,900 MiRealSource-MiMLS
• 2001-11-21 Sold (MLS) $92,900 REALCOMP
• 2001-10-21 Listing Removed — MiRealSource-MiMLS
• 2001-10-14 Listed $89,900 REALCOMP
• 2001-10-13 Listed $89,900 MiRealSource-MiMLS
• 1998-09-29 Sold (Public Records) $42,500 Public Records

Property tax history

+6.8%/yr

Latest (2025): $2,877 · -12.8% YoY. Source: county tax records.