2229 E 8 Mile Rd · Harper Woods, MI 48236

$139,999

2 bd · 1.5 ba · 855 sqft · SingleFamily public records · 14 Days on market

Built 1950 5,227 sqft lot $164/sqft · at area comps Est $215k · 35% under ↓ 11% since listing

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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 +21.1/30.0
• ARV discount +15.0/15.0
• DSCR +6.7/10.0
• 1% rule +5.7/10.0
• Schools +5.7/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Incredible opportunity in desirable Grosse Pointe Woods! This 2-bedroom, 1-bath home is ready for a complete renovation and offers tons of potential for investors, builders, or buyers looking to create their dream home. Features include a newer roof, beautiful exterior curb appeal, full basement, detached 1-car garage, and a private backyard with an in-ground pool. Hardwood floors are underneath the carpet in the living room, hallway, and both bedrooms. Located within the Grosse Pointe school district with access to resident-only parks, and conveniently close to shopping, dining, and expressways. Bring your vision - the upside potential here is huge!

Key facts

• 5,227 sq ft lot
• Garage
• Pool

Property features AI

Exterior

• Parking: Attached 1-car garage
• Utilities: Public water available; Public sewer available
• Home design: Single family residence; One level; Ground-level entry with steps
• Construction: Aluminum siding and brick exterior; Block foundation; Built with traditional construction materials
• Exterior features: In-ground pool; Paved road access; Lot approximately 0.12 acres (57 x 90)

Interior

• Bedrooms: Total of 4 rooms (bedrooms not separately specified)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Natural gas heating; ENERGY STAR qualified heating equipment; No cooling
• Interior features: Partially finished basement; Basement present

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $201 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).

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: 159 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $968 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 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $139,999

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: 1.07% ✓
• Cap rate: 8.01%
• Cash-on-cash: 6.14%
• DSCR: 1.27
• GRM: 7.8

CMA / ARV

• ARV (median comp): $215,147
• List price: $139,999
• Delta: -34.93%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2138 Ridgemont Rd	0.16mi	2/1.0	809 (-5%)	2mo	$135,000	$167	80
2126 Ridgemont Rd	0.16mi	2/1.0	892 (+4%)	6mo	$150,000	$168	78
20846 Hampton St	0.17mi	3/1.0 (+1)	897 (+5%)	7mo	$139,900	$156	71
20864 Hollywood St	0.24mi	2/1.0	907 (+6%)	12mo	$115,000	$127	66
1793 Roslyn Rd	0.41mi	3/1.0 (+1)	925 (+8%)	2mo	$260,000	$281	58
20871 Van Antwerp St	0.46mi	2/1.5	950 (+11%)	3mo	$170,000	$179	57
21919 Avalon St	0.45mi	2/1.0	750 (-12%)	3mo	$160,000	$213	54
21813 Rosedale St	0.49mi	3/1.0 (+1)	948 (+11%)	4mo	$138,000	$146	49
20040 E 8 Mile Rd	0.58mi	2/1.0	792 (-7%)	12mo	$159,000	$201	48
20223 Avalon St	0.61mi	3/1.0 (+1)	931 (+9%)	7mo	$150,000	$161	44
20488 Hollywood St	0.46mi	2/1.0	756 (-12%)	17mo	$90,000	$119	43
21531 Alger St	0.55mi	2/1.0	750 (-12%)	17mo	$153,500	$205	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.8%
• Equity multiple: 0.75×
• Total profit: $-9,881
• Equity at exit: $20,874

10-year hold

• IRR: 2.8%
• Equity multiple: 1.20×
• Total profit: $7,971
• Equity at exit: $12,105

Cash invested: $39,200 (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 48236

• Active inventory: 159
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,496 high
• Mortgage (P&I): −$734
• Tax from tax record: −$189 /mo · $2,270/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $201

Break-even live

Break-even rent $1,243

Max offer price $139,999

Occupancy floor 82%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2175 Ridgemont Rd Grosse Pointe Woods, MI	2.0	1.0	1100	$1,300	$1.18	43d	1	0.20mi
1992 Hawthorne Rd Grosse Pointe Woods, MI	3.0	2.0	1071	$2,100	$1.96	10d	1	0.36mi
21633 Greater Mack Ave St Clair Shores, MI	1.0	1.0	990	$1,212	$1.22	1d	1	0.39mi
2037 Vernier Rd Grosse Pointe Woods, MI	2.0	1.0	850	$1,350	$1.59	43d	1	0.49mi
22126 Alger St Saint Clair Shores, MI	2.0	1.5	1060	$1,750	$1.65	10d	1	0.55mi
22307 Greater Mack Ave St Clair Shores, MI	2.0	1.0	806	$1,195	$1.48	2d	1	0.71mi
20625 Elizabeth St Saint Clair Shores, MI	3.0	2.0	1074	$1,895	$1.76	43d	1	0.82mi
20600 Balfour St Harper Woods, MI	1.0–2.0	1.0–2.0	971	$1,671	$1.72	1d	12	0.85mi
22843 Grove St #47 Saint Clair Shores, MI	1.0	1.0	700	$1,100	$1.57	20d	1	0.89mi
20015 Lochmoor St Harper Woods, MI	3.0	1.0	1006	$1,500	$1.49	16d	1	1.03mi
22411 Oconnor St Saint Clair Shores, MI	2.0	1.0	950	$1,250	$1.32	43d	1	1.05mi
22617 Oconnor St Saint Clair Shores, MI	3.0	1.0	923	$2,000	$2.17	1d	1	1.11mi
23742 Greater Mack Ave St Clair Shores, MI	1.0	1.0	850	$1,700	$2.00	1d	1	1.38mi
23005 Kelly Rd Eastpointe, MI	2.0	1.0	850	$1,250	$1.47	23d	1	1.44mi

Listing history 3 events

1. 2026-05-15
   listed $139,999 Active 658-char remark

   Show marketing remark (658 chars)

   Incredible opportunity in desirable Grosse Pointe Woods! This 2-bedroom, 1-bath home is ready for a complete renovation and offers tons of potential for investors, builders, or buyers looking to create their dream home. Features include a newer roof, beautiful exterior curb appeal, full basement, detached 1-car garage, and a private backyard with an in-ground pool. Hardwood floors are underneath the carpet in the living room, hallway, and both bedrooms. Located within the Grosse Pointe school district with access to resident-only parks, and conveniently close to shopping, dining, and expressways. Bring your vision - the upside potential here is huge!

2. 2026-05-15
   listed $139,999 Active 658-char remark

   Show marketing remark (658 chars)

   Incredible opportunity in desirable Grosse Pointe Woods! This 2-bedroom, 1-bath home is ready for a complete renovation and offers tons of potential for investors, builders, or buyers looking to create their dream home. Features include a newer roof, beautiful exterior curb appeal, full basement, detached 1-car garage, and a private backyard with an in-ground pool. Hardwood floors are underneath the carpet in the living room, hallway, and both bedrooms. Located within the Grosse Pointe school district with access to resident-only parks, and conveniently close to shopping, dining, and expressways. Bring your vision - the upside potential here is huge!

3. 2026-05-13
   historical $139,999 658-char remark

   Show marketing remark (658 chars)

   Incredible opportunity in desirable Grosse Pointe Woods! This 2-bedroom, 1-bath home is ready for a complete renovation and offers tons of potential for investors, builders, or buyers looking to create their dream home. Features include a newer roof, beautiful exterior curb appeal, full basement, detached 1-car garage, and a private backyard with an in-ground pool. Hardwood floors are underneath the carpet in the living room, hallway, and both bedrooms. Located within the Grosse Pointe school district with access to resident-only parks, and conveniently close to shopping, dining, and expressways. Bring your vision - the upside potential here is huge!

ⓘ 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: $2,270 · $189/mo
• Projected year-2 tax: $2,270 · $189/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 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,957
• − Mortgage interest: −$7,842
• − Property taxes: −$2,270
• − Insurance: −$700
• − Repairs & maintenance: −$1,437
• − Management: −$1,437
• − Depreciation: −$4,073
• Taxable income: $200
• Est. tax owed @ 24.0%: −$48
• After-tax cash flow: $2,359/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
• City population: 16,098
• Population (ZIP): 31,383

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 White (82%)
• Race & ethnicity: White 82% Black 11% Two or more races 5% Asian 2% Hispanic / Latino 1%
• Common ancestry: Romanian 10% Lithuanian 5% Italian 4%
• Foreign-born: 7% · Canada
• Languages at home: 93% English-only · Other Indo-European 2% 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: ▼ -285.11%
• Current HPI: 181.0475
• Rent YoY: —
• Metro: —
• 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

-10.7% since first listed

7 events — show timeline

• 2026-06-15 Sold (MLS) $125,000 REALCOMP
• 2026-06-15 Sold (MLS) $125,000 MiRealSource-MiMLS
• 2026-05-28 Pending — MiRealSource-MiMLS
• 2026-05-28 Pending — REALCOMP
• 2026-05-15 Listed $139,999 MiRealSource-MiMLS
• 2026-05-15 Listed $139,999 REALCOMP
• 2026-05-13 Coming Soon $139,999 MiRealSource-MiMLS

Property tax history

+2.9%/yr

Latest (2025): $2,270 · +4.9% YoY. Source: county tax records.