148 Winona St · Highland Park, MI 48203

$86,858

4 bd · 1.5 ba · 1,853 sqft · SingleFamily public records · 31 Days on market

Built 1913 5,663 sqft lot $47/sqft · at area comps Est $90k · at est.

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.3/15.0
• Schools +5.0/10.0
• 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

SPRAWLING BRICK CAPE COD HOME LOCATED SOUTH OF DAVISON AND EAST OF WOODWARD. THIS HOME FEATURES A COVERED FRONT PORCH, COVERED DECK IN THE REAR, BIG BACKYARD, BEAUTIFUL FOYER ENTRY WAY WITH ORIGINAL WOODWORK, SPACIOUS LIVING ROOM WITH FIREPLACE AND BUILT-INS, FORMAL DINING ROOM, GOOD SIZED KITCHEN, FOUR GOOD SIZED BEDROOMS, ONE BATHROOM, BONUS ROOM, AND AN UNFINISHED BASEMENT. THIS HOME HAS GREAT POTENTIAL FOR FIRST TIME HOME BUYERS, SHORT TERM RENTAL, OR ADDITION TO YOUR PORTFOLIO! PROPERTY IS SOLD AS-IS. ALL DIMENSIONS ARE ESTIMATED AND SHOULD BE VERIFIED. ALL SHOWINGS REQUIRE A LICENSED AGENT TO BE PRESENT. BUYER TO PAY DETROIT INVESTMENT CO A 295 PROCESSING FEE AT CLOSING.

Key facts

• Covered front porch
• Covered deck
• Big backyard

Tags

• COVERED FRONT PORCH
• COVERED DECK
• BIG BACKYARD
• SPACIOUS LIVING ROOM
• FIREPLACE
• BUILT-INS

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $87k.

Deal economics

• At list price, monthly cash flow is $621 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $87k).
• Recommended offer: $84k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#214 in MI) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools F, crime F, employment F.
• Market conditions: 216 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,581/mo this rent would consume 49% of the median local household income ($38k/yr) (locally 1192% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $600 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 20y 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 1913 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $84,252 (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 1913 — 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 F-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: 1.82% ✓
• Cap rate: 14.88%
• Cash-on-cash: 30.67%
• DSCR: 2.36
• GRM: 4.6

CMA / ARV

• ARV (median comp): $90,478
• List price: $86,858
• Delta: 5.99%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
215 Winona St	0.14mi	3/2.0 (-1)	1,759 (-5%)	1mo	$115,000	$65	78
157 Rhode Island St	0.32mi	4/1.0	1,818 (-2%)	3mo	$90,000	$50	77
195 Massachusetts St	0.40mi	4/2.0	1,800 (-3%)	3mo	$140,000	$78	72
124 E Grand	0.20mi	3/2.5 (-1)	1,800 (-3%)	8mo	$84,500	$47	70
194 Farrand Park	0.16mi	4/2.0	1,610 (-13%)	5mo	$189,000	$117	64
118 Massachusetts St	0.42mi	4/1.5	1,971 (+6%)	7mo	$190,000	$96	64
81 Richton St	0.64mi	5/1.5 (+1)	1,776 (-4%)	3mo	$48,000	$27	56
79 Tennyson St	0.62mi	4/1.5	1,951 (+5%)	7mo	$48,500	$25	56
227 Massachusetts St	0.42mi	4/2.0	1,664 (-10%)	7mo	$130,000	$78	56
97 Tennyson St	0.61mi	4/1.5	1,700 (-8%)	8mo	$27,000	$16	51
101 Connecticut St	0.54mi	5/1.5 (+1)	2,111 (+14%)	3mo	$170,000	$81	44
50 Glendale St	0.40mi	5/3.0 (+1)	2,096 (+13%)	7mo	$55,000	$26	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.4%
• Equity multiple: 2.05×
• Total profit: $25,550
• Equity at exit: $12,951

10-year hold

• IRR: 33.1%
• Equity multiple: 4.02×
• Total profit: $73,384
• Equity at exit: $7,510

Cash invested: $24,320 (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 48203

• Home prices YoY: -23.3%
• Active inventory: 216
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,581 high
• Mortgage (P&I): −$455
• Tax from tax record: −$136 /mo · $1,633/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $621

Break-even live

Break-even rent $795

Max offer price $86,858

Occupancy floor 56%

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: $21,714
• Closing costs: $2,606
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
168 Beresford St Highland Park, MI	4.0	1.0	1541	$1,475	$0.96	17d	1	0.11mi
101 Colorado St Unit NA Highland Park, MI	4.0	1.5	1695	$1,500	$0.88	24d	1	0.23mi
165 Rhode Island St Highland Park, MI	4.0	1.5	1639	$1,200	$0.73	17d	1	0.29mi
64 Glendale St Highland Park, MI	4.0	1.0	1464	$1,500	$1.02	10d	1	0.43mi
41 Richton St Highland Park, MI	5.0	2.0	1871	$1,800	$0.96	2d	1	0.56mi
41 Richton St Highland Park, MI	5.0	2.0	1871	$1,800	$0.96	15d	1	0.56mi
505 Westminster St Detroit, MI	3.0	1.0	1700	$1,400	$0.82	17d	1	1.21mi
330 Westminster St Unit NA Detroit, MI	3.0	1.0	1995	$1,900	$0.95	44d	1	1.23mi
330 Westminster St Detroit, MI	3.0	1.0	1995	$1,900	$0.95	24d	1	1.23mi
106 Geneva St Highland Park, MI	5.0	1.0	1920	$1,450	$0.76	11d	1	1.39mi
326 Eason St Highland Park, MI	3.0	1.0	1256	$1,300	$1.04	17d	1	1.45mi

Listing history 30 events

1. 2026-06-18
   days on market $86,858 Active 31 DOM
2. 2026-06-17
   days on market $86,858 Active 30 DOM
3. 2026-06-16
   days on market $86,858 Active 29 DOM
4. 2026-06-15
   days on market $86,858 Active 28 DOM
5. 2026-06-13
   days on market $86,858 Active 26 DOM
6. 2026-06-09
   days on market $86,858 Active 22 DOM
7. 2026-06-08
   days on market $86,858 Active 21 DOM
8. 2026-06-07
   days on market $86,858 Active 20 DOM
9. 2026-06-04
   days on market $86,858 Active 17 DOM
10. 2026-06-03
    days on market $86,858 Active 16 DOM
11. 2026-06-02
    days on market $86,858 Active 15 DOM
12. 2026-06-01
    days on market $86,858 Active 14 DOM
13. 2026-05-31
    days on market $86,858 Active 13 DOM
14. 2026-05-18
    listed $86,858 Active 685-char remark

    Show marketing remark (685 chars)

    SPRAWLING BRICK CAPE COD HOME LOCATED SOUTH OF DAVISON AND EAST OF WOODWARD. THIS HOME FEATURES A COVERED FRONT PORCH, COVERED DECK IN THE REAR, BIG BACKYARD, BEAUTIFUL FOYER ENTRY WAY WITH ORIGINAL WOODWORK, SPACIOUS LIVING ROOM WITH FIREPLACE AND BUILT-INS, FORMAL DINING ROOM, GOOD SIZED KITCHEN, FOUR GOOD SIZED BEDROOMS, ONE BATHROOM, BONUS ROOM, AND AN UNFINISHED BASEMENT. THIS HOME HAS GREAT POTENTIAL FOR FIRST TIME HOME BUYERS, SHORT TERM RENTAL, OR ADDITION TO YOUR PORTFOLIO! PROPERTY IS SOLD AS-IS. ALL DIMENSIONS ARE ESTIMATED AND SHOULD BE VERIFIED. ALL SHOWINGS REQUIRE A LICENSED AGENT TO BE PRESENT. BUYER TO PAY DETROIT INVESTMENT CO A 295 PROCESSING FEE AT CLOSING.

15. 2026-05-18
    listed $86,858 Active 685-char remark

    Show marketing remark (685 chars)

    SPRAWLING BRICK CAPE COD HOME LOCATED SOUTH OF DAVISON AND EAST OF WOODWARD. THIS HOME FEATURES A COVERED FRONT PORCH, COVERED DECK IN THE REAR, BIG BACKYARD, BEAUTIFUL FOYER ENTRY WAY WITH ORIGINAL WOODWORK, SPACIOUS LIVING ROOM WITH FIREPLACE AND BUILT-INS, FORMAL DINING ROOM, GOOD SIZED KITCHEN, FOUR GOOD SIZED BEDROOMS, ONE BATHROOM, BONUS ROOM, AND AN UNFINISHED BASEMENT. THIS HOME HAS GREAT POTENTIAL FOR FIRST TIME HOME BUYERS, SHORT TERM RENTAL, OR ADDITION TO YOUR PORTFOLIO! PROPERTY IS SOLD AS-IS. ALL DIMENSIONS ARE ESTIMATED AND SHOULD BE VERIFIED. ALL SHOWINGS REQUIRE A LICENSED AGENT TO BE PRESENT. BUYER TO PAY DETROIT INVESTMENT CO A 295 PROCESSING FEE AT CLOSING.

16. 2026-05-07
    historical
17. 2026-05-07
    historical
18. 2026-04-02
    price $95,900
19. 2026-04-02
    price $95,900
20. 2026-01-30
    price $98,900
21. 2026-01-29
    price $98,900
22. 2025-11-21
    price $99,400
23. 2025-11-20
    price $99,400
24. 2025-11-07
    listed $99,900 Active
25. 2025-11-07
    listed $99,900 Active
26. 2019-12-04
    soldstatus $84,000
27. 2008-03-13
    historical
28. 2007-06-28
    listed $39,900
29. 2007-03-27
    historical
30. 2006-09-27
    listed $39,900

ⓘ 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: $1,633 · $136/mo
• Projected year-2 tax: $1,633 · $136/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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,977
• − Mortgage interest: −$4,865
• − Property taxes: −$1,633
• − Insurance: −$434
• − Repairs & maintenance: −$1,518
• − Management: −$1,518
• − Depreciation: −$2,527
• Taxable income: $6,481
• Est. tax owed @ 24.0%: −$1,555
• After-tax cash flow: $5,903/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)

No district data.

Livability — Highland Park

• Score: 73/100
• State rank: #214
• US rank: #5271

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Highland Park, MI
• County: Wayne County · 1,562,939 people
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 20,049
• Household income: $38,404
• Rent vs Own: 48.7% rent · 51.3% own
• Severe rent burden: 1192.0

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 (85%)
• Race & ethnicity: Black 85% White 8% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% French/Haitian/Cajun 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: ▼ -90.13%
• Current HPI: 297.0176
• Rent YoY: —
• 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

+117.7% since first listed

17 events — show timeline

• 2026-05-18 Listed $86,858 REALCOMP
• 2026-05-18 Listed $86,858 MiRealSource-MiMLS
• 2026-05-07 Listing Removed — MiRealSource-MiMLS
• 2026-05-07 Listing Removed — REALCOMP
• 2026-04-02 Price Changed $95,900 MiRealSource-MiMLS
• 2026-04-02 Price Changed $95,900 REALCOMP
• 2026-01-30 Price Changed $98,900 MiRealSource-MiMLS
• 2026-01-29 Price Changed $98,900 REALCOMP
• 2025-11-21 Price Changed $99,400 MiRealSource-MiMLS
• 2025-11-20 Price Changed $99,400 REALCOMP
• 2025-11-07 Listed $99,900 MiRealSource-MiMLS
• 2025-11-07 Listed $99,900 REALCOMP
• 2019-12-04 Sold (Public Records) $84,000 Public Records
• 2008-03-13 Listing Removed — REALCOMP
• 2007-06-28 Listed $39,900 REALCOMP
• 2007-03-27 Listing Removed — REALCOMP
• 2006-09-27 Listed $39,900 REALCOMP

Property tax history

-2.6%/yr

Latest (2025): $1,633 · -18.5% YoY. Source: county tax records.