1620 E Meyers Ave · Hazel Park, MI 48030

$69,900

2 bd · 1.0 ba · 728 sqft · SingleFamily public records · 1 Days on market

Built 1951 6,055 sqft lot Est $136k · 49% 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
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to the perfect value add home. this 2 bed home has been loved and cared for by its origional owner since 1951. Home has newer windows, driveway and water heater and are a great start to a cozy new home. Bring your updating ideas and call this house home.

Key facts

• Newer driveway
• Newer windows
• Newer water heater

Tags

• NEWER WINDOWS
• NEWER DRIVEWAY
• NEWER WATER HEATER

Property features AI

Exterior

• Utilities: Natural gas water heater
• Home design: Ranch-style single-family residence; One-story
• Construction: Built in 1951; Aluminum siding; Asphalt roof
• Exterior features: Shed on the property; Lot size approximately 0.14 acres; Public water

Interior

• Kitchen: Kitchen (8 x 12); Range; Refrigerator
• Bedrooms: Primary bedroom (12 x 11); Second bedroom (13 x 8)
• Bathrooms: 1 full bathroom (5 x 9.5)
• Heating & cooling: Forced air heating
• Interior features: Total of 5 rooms; Slab basement
• Laundry & utility: Laundry room (9 x 5); Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $554 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Cap rate 15.8% vs local median 6.2% in Hazel 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 81/100 on livability (#65 in MI, #1,385 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+, schools D.
• Hazel Park School District (suburban): math 10% / reading 24% proficiency, ranked #490 of 540 in MI (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.9%/yr); 135 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Oakland County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 2.9% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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.
• Current owner paid $7k; list at $70k implies a 893% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $69,900

Questions for the listing agent

1. Built in 1951 — 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. 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.
5. 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.
6. 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: 1.91% ✓
• Cap rate: 15.80%
• Cash-on-cash: 33.96%
• DSCR: 2.51
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $136,136
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1706 E Pearl Ave	0.21mi	3/1.0 (+1)	728 (0%)	3mo	$165,000	$227	82
1721 E Milton Ave E	0.30mi	2/1.0	732 (+0%)	5mo	$125,000	$171	81
1560 E Meyers Ave	0.04mi	2/1.0	805 (+11%)	4mo	$72,000	$89	77
2120 Pearl Ave	0.38mi	2/1.0	756 (+4%)	1mo	$113,000	$149	75
1320 E Goulson Ave	0.42mi	2/1.0	726 (-0%)	7mo	$136,000	$187	74
1771 E George Ave	0.41mi	2/1.0	724 (-0%)	8mo	$93,000	$128	73
1474 E Milton Ave	0.34mi	2/1.0	682 (-6%)	2mo	$155,000	$227	72
1403 E Bernhard Ave	0.29mi	2/1.0	695 (-4%)	8mo	$139,600	$201	72
1443 E George Ave	0.42mi	2/1.0	760 (+4%)	8mo	$159,300	$210	67
1106 E Granet Ave	0.31mi	2/1.0	819 (+12%)	4mo	$172,000	$210	61
1140 E Elza St	0.36mi	2/1.0	809 (+11%)	6mo	$95,100	$118	60
533 E Milton Ave	0.68mi	2/1.0	810 (+11%)	6mo	$85,000	$105	44

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 · 2.9% rent growth · sell at horizon

5-year hold

• IRR: 29.2%
• Equity multiple: 2.22×
• Total profit: $23,848
• Equity at exit: $10,422

10-year hold

• IRR: 36.5%
• Equity multiple: 4.36×
• Total profit: $65,773
• Equity at exit: $6,044

Cash invested: $19,572 (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 48030

• Rents YoY: 2.9%
• Active inventory: 135
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,338 high
• Mortgage (P&I): −$367
• Tax from tax record: −$108 /mo · $1,292/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $554

Break-even live

Break-even rent $637

Max offer price $69,900

Occupancy floor 54%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1621 E Evelyn Ave Hazel Park, MI	2.0	1.0	749	$1,295	$1.73	18d	1	0.10mi
21516 Dequindre Rd Warren, MI	1.0–2.0	1.0	837	$1,375	$1.64	22d	1	0.27mi
1211 E Bernhard Ave Hazel Park, MI	2.0	1.0	721	$1,500	$2.08	24d	1	0.37mi
21155 Warner Ave Warren, MI	2.0	1.0	756	$1,029	$1.36	24d	1	0.59mi
23115 Tawas Ave Hazel Park, MI	2.0	1.0	706	$1,375	$1.95	24d	1	0.80mi
27 E Milton Ave Hazel Park, MI	1.0	1.0	568	$1,050	$1.85	15d	1	0.86mi
1770 E Woodward Heights Blvd Hazel Park, MI	1.0–2.0	1.0	712	$1,400	$1.96	5d	1	0.95mi
1770 E Woodward Heights Blvd Unit C6 Hazel Park, MI	1.0	1.0	550	$1,100	$2.00	24d	1	0.95mi
1770 E Woodward Heights Blvd Unit C1 Hazel Park, MI	1.0	1.0	550	$1,350	$2.45	24d	1	0.95mi
1045 E Woodward Heights Blvd Hazel Park, MI	1.0–2.0	1.0	715	$1,209	$1.69	24d	3	1.06mi
23773 Hazelwood Ave Hazel Park, MI	2.0	1.0	671	$1,400	$2.09	12d	1	1.06mi
155 W George Ave Hazel Park, MI	2.0	1.0	725	$1,000	$1.38	24d	1	1.07mi

Listing history 2 events

1. 2026-06-17
   remarks 262-char remark

   Show marketing remark (262 chars)

   Welcome to the perfect value add home. this 2 bed home has been loved and cared for by its origional owner since 1951. Home has newer windows, driveway and water heater and are a great start to a cozy new home. Bring your updating ideas and call this house home.

2. 2026-06-17
   listed $69,900 Active 1 DOM

   Show marketing remark (262 chars)

   Welcome to the perfect value add home. this 2 bed home has been loved and cared for by its origional owner since 1951. Home has newer windows, driveway and water heater and are a great start to a cozy new home. Bring your updating ideas and call this house home.

ⓘ 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: $1,292 · $108/mo
• Projected year-2 tax: $1,292 · $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 4/10 Moderate FEMA zone X (unshaded) · 22% 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 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,059
• − Mortgage interest: −$3,915
• − Property taxes: −$1,292
• − Insurance: −$350
• − Repairs & maintenance: −$1,285
• − Management: −$1,285
• − Depreciation: −$2,033
• Taxable income: $5,899
• Est. tax owed @ 24.0%: −$1,416
• After-tax cash flow: $5,231/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: Hazel Park School District
• NCES district ID: 2618030
• Math proficiency: 10% ▼ -2.00%
• Reading proficiency: 24% ▲ 1.00%
• Median HH income: $36,181
• Composite: 14.05/100
• National rank: #9466
• State rank: #490 of 540 in MI

Livability — Hazel Park

• Score: 81/100
• State rank: #65
• US rank: #1385

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hazel Park, MI
• County: Oakland County · 1,009,092 people
• City population: 14,963
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 14,963
• Household income: $67,073
• Rent vs Own: 33.9% rent · 66.1% own
• Severe rent burden: 432.0

Population outlook (Oakland County) Hauer SSP2

• Today (2025): 1,335,747 people
• By 2030: 1,375,100 · +2.9%
• By 2040: 1,435,385 · +7.5%
• By 2050: 1,469,250 · +10.0%
• By 2075: 1,531,946 · +14.7%
• By 2100: 1,450,485 · +8.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Two or more races 10% Black 10% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Romanian 11% Slovak 3% Lithuanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 5% Arabic 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Oakland

• 2024 margin: D (+10.6) · D 54.4% · R 43.8% · Other 1.9%
• 2008→2024 swing: -3.9pp toward R · 2008: 14.5pp · 2024: 10.6pp
• All cycles: 2024: D+10.6 2020: D+14.1 2016: D+8.1 2012: D+8.1 2008: D+14.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -184.32%
• Current HPI: 285.5923
• Rent YoY: ▲ 2.90%
• 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

+893.0% since first listed

4 events — show timeline

• 2026-06-17 Listed $69,900 REALCOMP
• 2026-06-17 Listed $69,900 MiRealSource-MiMLS
• 2026-06-17 Listed $69,900 SW Michigan MLS
• 1995-05-17 Sold (Public Records) $7,039 Public Records

Property tax history

+2.5%/yr

Latest (2025): $1,292 · +1.9% YoY. Source: county tax records.