20315 Lancaster St · Harper Woods, MI 48225

$159,000

4 bd · 1.0 ba · 1,253 sqft · SingleFamily public records · 31 Days on market

Built 1950 6,098 sqft lot Est $174k · 9% 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 +21.5/30.0
• ARV discount +11.4/15.0
• DSCR +6.9/10.0
• Schools +5.7/10.0
• 1% rule +5.4/10.0
• Rent growth +3.8/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well-maintained brick bungalow in Harper Woods conveniently located near I-94, shopping, dining, and nearby Grosse Pointe amenities. Functional layout with natural light, original character, and thoughtful updates throughout. Features include a spacious living room, dining area, bright kitchen with ample cabinet space, and a beautiful sunroom offering additional living space. Finished upper level provides flexible bonus space for a variety of uses. Basement offers storage, laundry, and future finishing potential. Fenced backyard and 2 car detached garage add convenience. Upgrades include open kitchen, custom hard wood butcher block counter tops. New A/C, furnace and water heater installed in 2024. Grosse Pointe Public School System attendance boundary per public records.

Key facts

• Brick bungalow
• Original character
• Thoughtful updates

Tags

• BRICK BUNGALOW
• FUNCTIONAL LAYOUT
• NATURAL LIGHT
• ORIGINAL CHARACTER
• THOUGHTFUL UPDATES
• SPACIOUS LIVING ROOM

Property features AI

Finance

• Other: Property type: Residential, single-family
• Financial info: Tax information available but excluded
• HOA & community: No HOA details provided

Exterior

• Parking: Detached garage with automatic garage door opener; 2 garage spaces
• Security: No security details provided
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half story; Ground-level entry; Faces unspecified direction
• Construction: Aluminum siding and brick exterior; Block foundation; Year built not provided
• Exterior features: Enclosed patio/porch; Paved road access

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Bedrooms not specified
• Flooring: No flooring details provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No cooling system
• Interior features: Unfinished basement; Total of 4 rooms
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $159k.

Deal economics

• At list price, monthly cash flow is $239 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $159k).
• Recommended offer: $154k (3.0% below list) — sets the bar for market timing.

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-.
• Grosse Pointe Public Schools (suburban): math 56% / reading 68% proficiency, ranked #24 of 540 in MI (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 13% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+5.1%/yr); 133 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 32% of the median local income ($62k/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 $1k of loan paydown is wiped out by about $5k 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

• It's been on market 31 days — a 3% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 16 sale attempts since 23y ago; this cycle's ask is 7% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $154,230 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 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 1950 — 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: 1.04% ✓
• Cap rate: 8.10%
• Cash-on-cash: 6.45%
• DSCR: 1.29
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $174,167
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20260 Lancaster St	0.06mi	4/2.0	1,272 (+2%)	1mo	$112,700	$89	89
20640 Fleetwood Dr	0.19mi	3/1.0 (-1)	1,300 (+4%)	1mo	$125,000	$96	79
20456 Lennon St	0.17mi	3/1.5 (-1)	1,260 (+1%)	6mo	$175,000	$139	79
20703 Fleetwood Dr	0.26mi	3/1.0 (-1)	1,200 (-4%)	7mo	$180,000	$150	70
20488 Fleetwood Dr	0.11mi	4/1.5	1,401 (+12%)	4mo	$189,900	$136	70
20631 Lochmoor St	0.22mi	3/2.5 (-1)	1,311 (+5%)	2mo	$219,000	$167	70
20450 Lochmoor St	0.16mi	3/1.0 (-1)	1,107 (-12%)	8mo	$135,000	$122	61
20919 Norwood Dr	0.48mi	3/1.5 (-1)	1,180 (-6%)	9mo	$145,000	$123	54
20860 Ridgemont Rd	0.65mi	4/2.5	1,180 (-6%)	4mo	$40,000	$34	51
2202 Hollywood Ave	0.72mi	3/1.0 (-1)	1,340 (+7%)	0mo	$207,000	$154	50
2151 Hawthorne Rd	0.70mi	3/2.0 (-1)	1,170 (-7%)	8mo	$296,475	$253	40
1992 Lennon St	0.73mi	3/1.0 (-1)	1,400 (+12%)	4mo	$275,000	$196	38

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: -4.1%
• Equity multiple: 0.84×
• Total profit: $-6,963
• Equity at exit: $23,707

10-year hold

• IRR: 7.8%
• Equity multiple: 1.65×
• Total profit: $28,848
• Equity at exit: $13,747

Cash invested: $44,520 (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: 133
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,653 high
• Mortgage (P&I): −$834
• Tax from tax record: −$167 /mo · $2,003/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $239

Break-even live

Break-even rent $1,351

Max offer price $159,000

Occupancy floor 81%

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20015 Lochmoor St Harper Woods, MI	3.0	1.0	1006	$1,500	$1.49	17d	1	0.18mi
20270 Hollywood St Harper Woods, MI	3.0	1.0	1228	$1,650	$1.34	2d	1	0.49mi
1883 Lochmoor Blvd Grosse Pointe Woods, MI	3.0	2.5	1744	$2,900	$1.66	2d	1	0.81mi
1992 Hawthorne Rd Grosse Pointe Woods, MI	3.0	2.0	1071	$2,100	$1.96	10d	1	0.83mi
19661 Kenosha St Harper Woods, MI	3.0	2.0	1000	$1,400	$1.40	24d	1	1.03mi
19152 Woodside St Harper Woods, MI	3.0	1.0	916	$1,500	$1.64	17d	1	1.04mi
20461 Kingsville St Harper Woods, MI	4.0	1.0	1100	$1,399	$1.27	15d	1	1.12mi
19442 Kingsville St Harper Woods, MI	3.0	1.0	1000	$1,500	$1.50	17d	1	1.19mi
19365 Kingsville St Harper Woods, MI	4.0	1.5	996	$1,650	$1.66	15d	1	1.19mi
19435 McCormick St Detroit, MI	3.0	2.0	1148	$1,300	$1.13	17d	1	1.22mi
10985 Peerless St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	5d	1	1.34mi
20926 Moross Rd Grosse Pointe, MI	3.0	1.0	1200	$1,350	$1.12	44d	1	1.35mi
10870 Marne St Detroit, MI	3.0	1.0	1156	$1,100	$0.95	17d	1	1.36mi
16291 Eastburn St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	24d	1	1.44mi
19168 Berden St Grosse Pointe, MI	3.0	1.0	1200	$1,800	$1.50	2d	1	1.45mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	15d	1	1.46mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	44d	1	1.46mi
16225 Manning St Detroit, MI	4.0	2.0	1036	$1,475	$1.42	44d	1	1.48mi
16242 Bringard Dr Detroit, MI	3.0	1.0	1350	$1,300	$0.96	5d	1	1.48mi
18530 Kingsville St Harper Woods, MI	3.0	1.5	1396	$1,375	$0.98	17d	1	1.48mi
10542 Lanark St Detroit, MI	3.0	1.0	1023	$1,250	$1.22	44d	1	1.49mi

Listing history 50 events

1. 2026-06-18
   days on market $159,000 Active 31 DOM
2. 2026-06-17
   days on market $159,000 Active 30 DOM
3. 2026-06-16
   days on market $159,000 Active 29 DOM
4. 2026-06-15
   days on market $159,000 Active 28 DOM
5. 2026-06-13
   days on market $159,000 Active 26 DOM
6. 2026-06-13
   days on market $159,000 Active 25 DOM
7. 2026-06-09
   days on market $159,000 Active 22 DOM
8. 2026-06-08
   days on market $159,000 Active 21 DOM
9. 2026-06-07
   days on market $159,000 Active 20 DOM
10. 2026-06-04
    days on market $159,000 Active 17 DOM
11. 2026-06-03
    days on market $159,000 Active 16 DOM
12. 2026-06-02
    days on market $159,000 Active 15 DOM
13. 2026-06-01
    days on market $159,000 Active 14 DOM
14. 2026-05-31
    days on market $159,000 Active 13 DOM
15. 2026-05-18
    listed $149,000 Active

    Show marketing remark (781 chars)

    Well-maintained brick bungalow in Harper Woods conveniently located near I-94, shopping, dining, and nearby Grosse Pointe amenities. Functional layout with natural light, original character, and thoughtful updates throughout. Features include a spacious living room, dining area, bright kitchen with ample cabinet space, and a beautiful sunroom offering additional living space. Finished upper level provides flexible bonus space for a variety of uses. Basement offers storage, laundry, and future finishing potential. Fenced backyard and 2 car detached garage add convenience. Upgrades include open kitchen, custom hard wood butcher block counter tops. New A/C, furnace and water heater installed in 2024. Grosse Pointe Public School System attendance boundary per public records.

16. 2026-05-18
    listed $149,000 Active 781-char remark

    Show marketing remark (781 chars)

    Well-maintained brick bungalow in Harper Woods conveniently located near I-94, shopping, dining, and nearby Grosse Pointe amenities. Functional layout with natural light, original character, and thoughtful updates throughout. Features include a spacious living room, dining area, bright kitchen with ample cabinet space, and a beautiful sunroom offering additional living space. Finished upper level provides flexible bonus space for a variety of uses. Basement offers storage, laundry, and future finishing potential. Fenced backyard and 2 car detached garage add convenience. Upgrades include open kitchen, custom hard wood butcher block counter tops. New A/C, furnace and water heater installed in 2024. Grosse Pointe Public School System attendance boundary per public records.

17. 2026-05-01
    historical
18. 2026-05-01
    historical
19. 2026-04-01
    listed $179,000 Active
20. 2026-04-01
    listed $179,000 Active
21. 2026-03-31
    historical
22. 2026-03-31
    historical
23. 2026-03-12
    price $199,000
24. 2026-03-11
    price $199,000
25. 2026-03-06
    price $205,000
26. 2026-03-06
    price $205,000
27. 2026-03-03
    price $206,900
28. 2026-03-02
    price $206,900
29. 2026-02-26
    listed $207,000 Active
30. 2026-02-26
    listed $207,000 Active
31. 2026-02-20
    price $207,000
32. 2026-02-19
    price $207,000
33. 2026-02-19
    historical
34. 2022-04-26
    soldstatus $156,000
35. 2022-04-15
    soldstatus $156,000 Sold
36. 2022-04-15
    soldstatus $156,000 Closed
37. 2022-03-21
    status Pending
38. 2022-03-21
    status Pending
39. 2022-02-23
    historical Accepting Backup Offers
40. 2022-02-23
    historical Accepting Backup Offers
41. 2022-02-20
    listed $159,999 Active
42. 2022-02-20
    listed $159,999 Active
43. 2018-01-02
    historical
44. 2018-01-02
    historical
45. 2017-11-09
    listed $90,499 Active
46. 2017-11-08
    listed $90,499 Active
47. 2017-11-06
    historical
48. 2017-08-16
    status Pending
49. 2017-08-16
    status Pending
50. 2017-08-16
    historical

ⓘ 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: $2,003 · $167/mo
• Projected year-2 tax: $2,226 · $185/mo
• Expected delta: +$223/yr (+$19/mo · 11.1%)

ⓘ 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,840
• − Mortgage interest: −$8,906
• − Property taxes: −$2,003
• − Insurance: −$795
• − Repairs & maintenance: −$1,587
• − Management: −$1,587
• − Depreciation: −$4,625
• Taxable income: $335
• Est. tax owed @ 24.0%: −$80
• After-tax cash flow: $2,789/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: Grosse Pointe Public Schools
• NCES district ID: 2625740
• Math proficiency: 56% ▼ -2.00%
• Reading proficiency: 68% ▲ 2.00%
• Median HH income: $89,975
• Composite: 56.51/100
• National rank: #1152
• State rank: #24 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

+98.7% since first listed

50 events — show timeline

• 2026-05-18 Listed $149,000 REALCOMP
• 2026-05-18 Listed $149,000 MiRealSource-MiMLS
• 2026-05-01 Listing Removed — MiRealSource-MiMLS
• 2026-05-01 Listing Removed — REALCOMP
• 2026-04-01 Listed $179,000 MiRealSource-MiMLS
• 2026-04-01 Listed $179,000 REALCOMP
• 2026-03-31 Listing Removed — MiRealSource-MiMLS
• 2026-03-31 Listing Removed — REALCOMP
• 2026-03-12 Price Changed $199,000 MiRealSource-MiMLS
• 2026-03-11 Price Changed $199,000 REALCOMP
• 2026-03-06 Price Changed $205,000 MiRealSource-MiMLS
• 2026-03-06 Price Changed $205,000 REALCOMP
• 2026-03-03 Price Changed $206,900 MiRealSource-MiMLS
• 2026-03-02 Price Changed $206,900 REALCOMP
• 2026-02-26 Listed $207,000 MiRealSource-MiMLS
• 2026-02-26 Listed $207,000 REALCOMP
• 2026-02-20 Price Changed $207,000 MiRealSource-MiMLS
• 2026-02-19 Price Changed $207,000 REALCOMP
• 2026-02-19 Coming Soon — MiRealSource-MiMLS
• 2022-04-26 Sold (Public Records) $156,000 Public Records
• 2022-04-15 Sold (MLS) $156,000 MiRealSource-MiMLS
• 2022-04-15 Sold (MLS) $156,000 REALCOMP
• 2022-03-21 Pending — MiRealSource-MiMLS
• 2022-03-21 Pending — REALCOMP
• 2022-02-23 Contingent — MiRealSource-MiMLS
• 2022-02-23 Contingent — REALCOMP
• 2022-02-20 Listed $159,999 MiRealSource-MiMLS
• 2022-02-20 Listed $159,999 REALCOMP
• 2018-01-02 Listing Removed — REALCOMP
• 2018-01-02 Listing Removed — MiRealSource-MiMLS
• 2017-11-09 Listed $90,499 MiRealSource-MiMLS
• 2017-11-08 Listed $90,499 REALCOMP
• 2017-11-06 Listing Removed — REALCOMP
• 2017-08-16 Pending — MiRealSource-MiMLS
• 2017-08-16 Pending — REALCOMP
• 2017-08-16 Listing Removed — MiRealSource-MiMLS
• 2017-08-02 Price Changed $89,499 MiRealSource-MiMLS
• 2017-08-01 Price Changed $89,499 REALCOMP
• 2017-06-25 Listed $92,499 MiRealSource-MiMLS
• 2017-06-25 Listed $92,499 REALCOMP
• 2015-03-08 Listing Removed — MiRealSource-MiMLS
• 2014-12-08 Listed $950 MiRealSource-MiMLS
• 2006-08-24 Listing Removed — REALCOMP
• 2006-03-04 Listed $149,900 REALCOMP
• 2005-12-14 Sold (MLS) $112,000 REALCOMP
• 2005-04-22 Listed $126,000 REALCOMP
• 2004-06-17 Listing Removed — REALCOMP
• 2003-10-17 Listed $123,900 REALCOMP
• 2001-06-07 Sold (Public Records) $115,400 Public Records
• 2000-09-11 Sold (Public Records) $75,000 Public Records

Property tax history

-3.7%/yr

Latest (2025): $2,003 · -71.1% YoY. Source: county tax records.