824 Harbor Ave · Monroe, MI 48162

$90,000

2 bd · 1.0 ba · 840 sqft · SingleFamily public records · 17 Days on market

Built 1939 0.29 ac lot Est $170k · 47% under

---

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 +29.8/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• Livability +4.2/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 Bedroom, 1 bath ranch with 2 car garage. Close to shopping, expressways and restaurants. THIS IS A HUD HOME BEING SOLD AS IS. EXCLUSIVE LISTING. OWNER OCCUPANT BIDS ONLY FIRST 14 DAYS ON MARKET. INVESTORS CAN BID AFTER EXCLUSIVE LISTING PERIOD EXPIRES. FHA Case #261934623. FHA insurability is IE (insured with escrow), subject to appraisal. Seller makes no representations or warranties as to property condition. Seller may contribute up to 3% for buyer's closing costs upon buyer request. Equal Housing Opportunity.

Key facts

• 0.29 acre lot
• 2 garage spots
• Built 1939

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public sewer; Other water source
• Home design: Single-family residence; One story; Ground-level entry with steps; Vinyl siding
• Construction: Vinyl siding construction
• Exterior features: Paved road access; Lot approximately 0.29 acres (80 x 160)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Crawl space basement; Total of 5 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $331 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.7% vs local median 4.0% in Monroe — 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 83/100 on livability (#51 in MI, #1,034 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, crime D+, amenities D+.
• Monroe Public Schools (suburban): math 24% / reading 47% proficiency, ranked #278 of 540 in MI (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 123 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 264 units permitted in Monroe County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Monroe County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 23y 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 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $88,650 (1.5% below list)

Questions for the listing agent

1. Built in 1939 — 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 D 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: 1.30% ✓
• Cap rate: 10.71%
• Cash-on-cash: 15.78%
• DSCR: 1.70
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $169,680
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
712 Michigan Ave	0.61mi	3/1.0 (+1)	840 (0%)	4mo	$170,000	$202	63
1115 Michigan Ave	0.64mi	3/1.0 (+1)	952 (+13%)	23mo	$148,000	$155	24

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: 6.6%
• Equity multiple: 1.26×
• Total profit: $6,523
• Equity at exit: $13,419

10-year hold

• IRR: 16.0%
• Equity multiple: 2.30×
• Total profit: $32,854
• Equity at exit: $7,782

Cash invested: $25,200 (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 48162

• Active inventory: 123
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,167 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$81 /mo · $975/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $331

Break-even live

Break-even rent $748

Max offer price $90,000

Occupancy floor 67%

Sensitivity live

Price	-10% $382	-5% $357	+0% $331	+5% $306	+10% $280
Rent	-10% $239	-5% $285	+0% $331	+5% $378	+10% $424
Rate	-1.0pp $377	-0.5pp $354	base $331	+0.5pp $308	+1.0pp $284

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1166 N Macomb St Monroe, MI	1.0	1.0	635	$1,000	$1.57	24d	1	0.97mi
767 N Macomb St Monroe, MI	2.0	1.0	1050	$1,150	$1.10	44d	1	1.03mi
765 N Macomb St Monroe, MI	2.0	1.0	1050	$1,150	$1.10	44d	1	1.03mi
927 N Macomb St Monroe, MI	1.0	1.0	900	$1,195	$1.33	18d	1	1.05mi

Listing history 13 events

1. 2026-06-19
   days on market $90,000 Active 17 DOM
2. 2026-06-18
   days on market $90,000 Active 16 DOM
3. 2026-06-17
   days on market $90,000 Active 15 DOM
4. 2026-06-16
   days on market $90,000 Active 14 DOM
5. 2026-06-15
   days on market $90,000 Active 13 DOM
6. 2026-06-14
   days on market $90,000 Active 11 DOM
7. 2026-06-12
   days on market $90,000 Active 10 DOM
8. 2026-06-09
   days on market $90,000 Active 7 DOM
9. 2026-06-08
   days on market $90,000 Active 6 DOM
10. 2026-06-07
    days on market $90,000 Active 5 DOM
11. 2026-06-05
    days on market $90,000 Active 2 DOM
12. 2026-06-03
    remarks 520-char remark
13. 2026-06-03
    listed $90,000 Active 1 DOM

ⓘ 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: $975 · $81/mo
• Projected year-2 tax: $1,181 · $98/mo
• Expected delta: +$205/yr (+$17/mo · 21.0%)

ⓘ 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 ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,008
• − Mortgage interest: −$5,041
• − Property taxes: −$975
• − Insurance: −$450
• − Repairs & maintenance: −$1,121
• − Management: −$1,121
• − Depreciation: −$2,618
• Taxable income: $2,681
• Est. tax owed @ 24.0%: −$644
• After-tax cash flow: $3,333/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: Monroe Public Schools
• NCES district ID: 2624150
• Math proficiency: 24% ▲ 3.00%
• Reading proficiency: 47% ▲ 12.00%
• Median HH income: $46,437
• Composite: 30.33/100
• National rank: #6269
• State rank: #278 of 540 in MI

Livability — Monroe

• Score: 83/100
• State rank: #51
• US rank: #1034

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Monroe, MI
• County: Monroe County · 54,460 people
• City population: 54,460
• Metro: Monroe, MI
• Population (ZIP): 28,156
• Household income: $67,876
• Rent vs Own: 23.4% rent · 76.6% own
• Severe rent burden: 828.0

Population outlook (Monroe County) Hauer SSP2

• Today (2025): 144,439 people
• By 2030: 140,033 · -3.1%
• By 2040: 128,408 · -11.1%
• By 2050: 115,024 · -20.4%
• By 2075: 87,273 · -39.6%
• By 2100: 63,110 · -56.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 4% Black 3% Hispanic / Latino 3%
• Common ancestry: Lithuanian 7% Romanian 6% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Monroe

• 2024 margin: Strong R (+27.1) · D 35.7% · R 62.9% · Other 1.4%
• 2008→2024 swing: -31.5pp toward R · 2008: 4.3pp · 2024: -27.1pp
• All cycles: 2024: R+27.1 2020: R+22.6 2016: R+22.1 2012: D+1.0 2008: D+4.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -171.11%
• Current HPI: 138.1795
• Rent YoY: —
• Metro: Monroe, 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

+233.3% since first listed

23 events — show timeline

• 2026-06-02 Listed $90,000 MiRealSource-MiMLS
• 2026-06-02 Listed $90,000 REALCOMP
• 2025-09-17 Pending — MiRealSource-MiMLS
• 2025-09-17 Pending — REALCOMP
• 2025-09-17 Listing Removed — MiRealSource-MiMLS
• 2025-07-24 Listed $100,000 MiRealSource-MiMLS
• 2025-07-24 Listed $100,000 REALCOMP
• 2025-07-23 Coming Soon — MiRealSource-MiMLS
• 2023-12-25 Listing Removed — MiRealSource-MiMLS
• 2023-12-24 Listing Removed — REALCOMP
• 2023-06-24 Listed $89,900 MiRealSource-MiMLS
• 2023-06-24 Listed $89,900 REALCOMP
• 2003-12-04 Sold (Public Records) $120,500 Public Records
• 2003-12-01 Sold (MLS) $120,500 MiRealSource-MiMLS
• 2003-12-01 Sold (MLS) $120,500 REALCOMP
• 2003-12-01 Sold (MLS) $120,500 REALCOMP
• 2003-10-16 Listing Removed — MiRealSource-MiMLS
• 2003-06-11 Listed $121,900 MiRealSource-MiMLS
• 2003-06-11 Listed $121,900 REALCOMP
• 2003-04-26 Listed $121,900 REALCOMP
• 1991-03-21 Sold (Public Records) $42,000 Public Records
• 1987-06-19 Sold (Public Records) $39,900 Public Records
• 1987-04-06 Sold (Public Records) $27,000 Public Records

Property tax history

+0.7%/yr

Latest (2025): $975 · -44.0% YoY. Source: county tax records.