21465 Bournemouth St · Harper Woods, MI 48225

$169,900

3 bd · 1.0 ba · 1,079 sqft · SingleFamily public records · 16 Days on market

Built 1951 4,792 sqft lot

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Why this score? — see what drove the D 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 +15.5/30.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• Rent growth +3.8/5.0
• Livability +3.7/5.0
• 1% rule +3.4/10.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful 3-bedroom brick bungalow offering a great blend of updates and classic charm. This home features refinished hardwood floors along with brand-new carpet and fresh paint throughout, creating a clean, move-in-ready feel. The updated kitchen adds modern appeal, while the brand-new roof (2026) provides peace of mind for years to come. The basement offers excellent additional space, perfect for a family room, home office, or extra storage. A detached 2-car brick garage is a great bonus. Ideal for first-time buyers or a turnkey investment opportunity!

Key facts

• 4,792 sq ft lot
• 2 garage spots
• Built 1951

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $69 ($830/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $143k (15.6% below list).
• Recommended offer: $143k (15.6% below list) — sets the bar for 1% rule.

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-.
• Harper Woods School District (suburban): math 4% / reading 15% proficiency, ranked #524 of 540 in MI (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.1%/yr); 133 active listings in the ZIP; 40 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).

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 16 days — a 2% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 16y 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.
• Current owner paid $36k; list at $170k implies a 371% 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 $143,379 (15.6% below list)

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. 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.84% ✗
• Cap rate: 6.78%
• Cash-on-cash: 1.74%
• DSCR: 1.08
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $85,241
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21628 Newcastle Rd	0.09mi	3/1.0	1,079 (0%)	0mo	$173,500	$161	96
21553 Bournemouth St	0.04mi	3/1.0	1,079 (0%)	4mo	$185,000	$171	94
21211 Newcastle Rd	0.17mi	3/1.0	1,120 (+4%)	2mo	$135,000	$121	85
19134 Mallina St	0.19mi	3/1.0	1,032 (-4%)	2mo	$179,000	$173	82
18904 Mallina St	0.34mi	3/1.0	1,107 (+3%)	2mo	$85,575	$77	78
21135 Littlestone Rd	0.37mi	3/1.0	1,119 (+4%)	1mo	$187,500	$168	76
6301 Lodewyck St	0.54mi	3/1.0	1,084 (+0%)	4mo	$70,000	$65	71
20644 Mccormick St	0.52mi	3/2.0	1,152 (+7%)	2mo	$91,000	$79	58
6135 Marseilles St	0.62mi	3/1.0	988 (-8%)	0mo	$55,000	$56	57
5981 University Pl	0.71mi	3/1.0	964 (-11%)	3mo	$64,000	$66	46
20300 Mccormick St	0.71mi	3/1.0	940 (-13%)	1mo	$60,000	$64	45
20301 Kenosha St	0.69mi	3/1.0	949 (-12%)	5mo	$57,000	$60	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 · 5.1% rent growth · sell at horizon

5-year hold

• IRR: -11.4%
• Equity multiple: 0.58×
• Total profit: $-20,079
• Equity at exit: $25,333

10-year hold

• IRR: 0.3%
• Equity multiple: 1.03×
• Total profit: $1,249
• Equity at exit: $14,690

Cash invested: $47,572 (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 48225

• Rents YoY: 5.1%
• Active inventory: 133
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,434 high
• Mortgage (P&I): −$891
• Tax from tax record: −$102 /mo · $1,221/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $69

Break-even live

Break-even rent $1,346

Max offer price $169,900

Occupancy floor 90%

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21401 Kingsville St Harper Woods, MI	2.0	1.0	944	$1,200	$1.27	24d	1	0.12mi
19168 Berden St Grosse Pointe, MI	3.0	1.0	1200	$1,800	$1.50	1d	1	0.19mi
19203 Edgefield St Harper Woods, MI	2.0	1.0	1100	$1,100	$1.00	24d	1	0.25mi
20926 Moross Rd Grosse Pointe, MI	3.0	1.0	1200	$1,350	$1.12	43d	1	0.39mi
6301 Lodewyck St Detroit, MI	3.0	1.0	1084	$1,300	$1.20	12d	1	0.53mi
19000 Chandler Park Dr Grosse Pointe, MI	2.0	1.0	1374	$2,300	$1.67	1d	1	0.55mi
19000 Chandler Park Dr Grosse Pointe, MI	2.0	1.0	1374	$2,300	$1.67	4d	1	0.55mi
22144 Moross Rd Grosse Pointe, MI	2.0	1.0	819	$1,350	$1.65	17d	1	0.55mi
22144 Moross Rd Grosse Pointe, MI	2.0	1.0	819	$1,350	$1.65	2d	1	0.55mi
22148 Moross Rd Grosse Pointe, MI	2.0	1.0	819	$1,250	$1.53	17d	1	0.56mi
22148 Moross Rd Grosse Pointe, MI	2.0	1.0	819	$1,250	$1.53	2d	1	0.56mi
17720 Chester St Detroit, MI	2.0	1.0	986	$1,250	$1.27	43d	1	0.59mi
20461 Kingsville St Harper Woods, MI	4.0	1.0	1100	$1,399	$1.27	14d	1	0.59mi
17710 Chester St Detroit, MI	2.0	1.0	984	$1,250	$1.27	43d	1	0.59mi
6175 Marseilles St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	43d	1	0.61mi
5915 Farmbrook St Detroit, MI	3.0	1.5	1000	$1,250	$1.25	24d	1	0.62mi
10542 Lanark St Detroit, MI	3.0	1.0	1023	$1,250	$1.22	43d	1	0.74mi
6325 Neff Ave Detroit, MI	3.0	1.0	1000	$1,500	$1.50	2d	1	0.78mi
10870 Marne St Detroit, MI	3.0	1.0	1156	$1,100	$0.95	17d	1	0.79mi
6181 Neff Ave Detroit, MI	3.0	1.0	1102	$1,299	$1.18	17d	1	0.80mi
6154 Woodhall St Detroit, MI	2.0	1.0	1136	$1,000	$0.88	43d	1	0.84mi
10985 Peerless St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	5d	1	0.86mi
5786 Neff Ave Detroit, MI	3.0	1.5	1100	$1,225	$1.11	16d	1	0.88mi
19982 McCormick St Detroit, MI	3.0	1.0	866	$1,200	$1.39	3d	1	0.88mi
6304 Bluehill St Detroit, MI	3.0	1.0	1088	$1,500	$1.38	43d	1	0.92mi
5955 Guilford St Detroit, MI	3.0	1.0	802	$1,400	$1.75	17d	1	0.96mi
6225 Oldtown St Detroit, MI	3.0	1.0	1330	$1,199	$0.90	17d	1	1.00mi
19661 Kenosha St Harper Woods, MI	3.0	2.0	1000	$1,400	$1.40	24d	1	1.06mi
19639 Moross Rd Unit 1 Detroit, MI	2.0	1.0	900	$1,100	$1.22	43d	1	1.10mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	12d	1	1.10mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	43d	1	1.16mi
9313 Harvard Rd Detroit, MI	3.0	1.5	1329	$1,200	$0.90	17d	1	1.17mi
19442 Kingsville St Harper Woods, MI	3.0	1.0	1000	$1,500	$1.50	17d	1	1.18mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	43d	1	1.18mi
9241 Boleyn St Detroit, MI	3.0	1.0	1350	$1,350	$1.00	43d	1	1.19mi
19435 McCormick St Detroit, MI	3.0	2.0	1148	$1,300	$1.13	17d	1	1.19mi
20015 Lochmoor St Harper Woods, MI	3.0	1.0	1006	$1,500	$1.49	16d	1	1.24mi
19365 Kingsville St Harper Woods, MI	4.0	1.5	996	$1,650	$1.66	14d	1	1.25mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	43d	1	1.27mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	3d	1	1.30mi

Listing history 19 events

1. 2026-05-23
   status Pending
2. 2026-04-23
   status Pending 560-char remark

   Show marketing remark (560 chars)

   Beautiful 3-bedroom brick bungalow offering a great blend of updates and classic charm. This home features refinished hardwood floors along with brand-new carpet and fresh paint throughout, creating a clean, move-in-ready feel. The updated kitchen adds modern appeal, while the brand-new roof (2026) provides peace of mind for years to come. The basement offers excellent additional space, perfect for a family room, home office, or extra storage. A detached 2-car brick garage is a great bonus. Ideal for first-time buyers or a turnkey investment opportunity!

3. 2026-04-23
   status Pending

   Show marketing remark (560 chars)

   Beautiful 3-bedroom brick bungalow offering a great blend of updates and classic charm. This home features refinished hardwood floors along with brand-new carpet and fresh paint throughout, creating a clean, move-in-ready feel. The updated kitchen adds modern appeal, while the brand-new roof (2026) provides peace of mind for years to come. The basement offers excellent additional space, perfect for a family room, home office, or extra storage. A detached 2-car brick garage is a great bonus. Ideal for first-time buyers or a turnkey investment opportunity!

4. 2026-04-23
   historical

   Show marketing remark (560 chars)

   Beautiful 3-bedroom brick bungalow offering a great blend of updates and classic charm. This home features refinished hardwood floors along with brand-new carpet and fresh paint throughout, creating a clean, move-in-ready feel. The updated kitchen adds modern appeal, while the brand-new roof (2026) provides peace of mind for years to come. The basement offers excellent additional space, perfect for a family room, home office, or extra storage. A detached 2-car brick garage is a great bonus. Ideal for first-time buyers or a turnkey investment opportunity!

5. 2026-04-16
   status Active 560-char remark

   Show marketing remark (560 chars)

   Beautiful 3-bedroom brick bungalow offering a great blend of updates and classic charm. This home features refinished hardwood floors along with brand-new carpet and fresh paint throughout, creating a clean, move-in-ready feel. The updated kitchen adds modern appeal, while the brand-new roof (2026) provides peace of mind for years to come. The basement offers excellent additional space, perfect for a family room, home office, or extra storage. A detached 2-car brick garage is a great bonus. Ideal for first-time buyers or a turnkey investment opportunity!

6. 2026-04-16
   status Active

   Show marketing remark (560 chars)

   Beautiful 3-bedroom brick bungalow offering a great blend of updates and classic charm. This home features refinished hardwood floors along with brand-new carpet and fresh paint throughout, creating a clean, move-in-ready feel. The updated kitchen adds modern appeal, while the brand-new roof (2026) provides peace of mind for years to come. The basement offers excellent additional space, perfect for a family room, home office, or extra storage. A detached 2-car brick garage is a great bonus. Ideal for first-time buyers or a turnkey investment opportunity!

7. 2026-04-09
   status Pending 560-char remark

   Show marketing remark (560 chars)

   Beautiful 3-bedroom brick bungalow offering a great blend of updates and classic charm. This home features refinished hardwood floors along with brand-new carpet and fresh paint throughout, creating a clean, move-in-ready feel. The updated kitchen adds modern appeal, while the brand-new roof (2026) provides peace of mind for years to come. The basement offers excellent additional space, perfect for a family room, home office, or extra storage. A detached 2-car brick garage is a great bonus. Ideal for first-time buyers or a turnkey investment opportunity!

8. 2026-04-09
   status Pending

   Show marketing remark (560 chars)

   Beautiful 3-bedroom brick bungalow offering a great blend of updates and classic charm. This home features refinished hardwood floors along with brand-new carpet and fresh paint throughout, creating a clean, move-in-ready feel. The updated kitchen adds modern appeal, while the brand-new roof (2026) provides peace of mind for years to come. The basement offers excellent additional space, perfect for a family room, home office, or extra storage. A detached 2-car brick garage is a great bonus. Ideal for first-time buyers or a turnkey investment opportunity!

9. 2026-04-01
   listed $169,900 Active 560-char remark

   Show marketing remark (560 chars)

   Beautiful 3-bedroom brick bungalow offering a great blend of updates and classic charm. This home features refinished hardwood floors along with brand-new carpet and fresh paint throughout, creating a clean, move-in-ready feel. The updated kitchen adds modern appeal, while the brand-new roof (2026) provides peace of mind for years to come. The basement offers excellent additional space, perfect for a family room, home office, or extra storage. A detached 2-car brick garage is a great bonus. Ideal for first-time buyers or a turnkey investment opportunity!

10. 2026-04-01
    listed $169,900 Active

    Show marketing remark (560 chars)

    Beautiful 3-bedroom brick bungalow offering a great blend of updates and classic charm. This home features refinished hardwood floors along with brand-new carpet and fresh paint throughout, creating a clean, move-in-ready feel. The updated kitchen adds modern appeal, while the brand-new roof (2026) provides peace of mind for years to come. The basement offers excellent additional space, perfect for a family room, home office, or extra storage. A detached 2-car brick garage is a great bonus. Ideal for first-time buyers or a turnkey investment opportunity!

11. 2026-03-31
    historical $169,900 560-char remark

    Show marketing remark (560 chars)

    Beautiful 3-bedroom brick bungalow offering a great blend of updates and classic charm. This home features refinished hardwood floors along with brand-new carpet and fresh paint throughout, creating a clean, move-in-ready feel. The updated kitchen adds modern appeal, while the brand-new roof (2026) provides peace of mind for years to come. The basement offers excellent additional space, perfect for a family room, home office, or extra storage. A detached 2-car brick garage is a great bonus. Ideal for first-time buyers or a turnkey investment opportunity!

12. 2010-04-29
    soldstatus $36,104 59-char remark

    Show marketing remark (59 chars)

    Brick, vinyl & stone bungalow, Freddie Mac/Homesteps.

13. 2010-04-29
    soldstatus $36,104

    Show marketing remark (59 chars)

    Brick, vinyl & stone bungalow, Freddie Mac/Homesteps.

14. 2010-04-10
    historical
15. 2010-03-29
    listed $32,500 59-char remark

    Show marketing remark (59 chars)

    Brick, vinyl & stone bungalow, Freddie Mac/Homesteps.

16. 2010-03-29
    listed $32,500

    Show marketing remark (59 chars)

    Brick, vinyl & stone bungalow, Freddie Mac/Homesteps.

17. 2004-11-16
    soldstatus $148,000
18. 2000-06-21
    soldstatus $119,000
19. 1993-07-27
    soldstatus $71,500

ⓘ 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: $1,221 · $102/mo
• Projected year-2 tax: $1,919 · $160/mo
• Expected delta: +$698/yr (+$58/mo · 57.1%)

ⓘ 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: $17,205
• − Mortgage interest: −$9,517
• − Property taxes: −$1,221
• − Insurance: −$850
• − Repairs & maintenance: −$1,376
• − Management: −$1,376
• − Depreciation: −$4,943
• Taxable loss: −$2,078
• Est. tax savings @ 24.0%: +$499
• After-tax cash flow: $1,329/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: Harper Woods School District
• NCES district ID: 2617760
• Math proficiency: 4% ▼ -7.00%
• Reading proficiency: 15% ▼ -9.00%
• Median HH income: $46,155
• Composite: 8.8/100
• National rank: #9892
• State rank: #524 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

+137.6% since first listed

19 events — show timeline

• 2026-05-23 Pending — REALCOMP
• 2026-04-23 Pending — MiRealSource-MiMLS
• 2026-04-23 Pending — REALCOMP
• 2026-04-23 Listing Removed — REALCOMP
• 2026-04-16 Relisted — MiRealSource-MiMLS
• 2026-04-16 Relisted — REALCOMP
• 2026-04-09 Pending — MiRealSource-MiMLS
• 2026-04-09 Pending — REALCOMP
• 2026-04-01 Listed $169,900 MiRealSource-MiMLS
• 2026-04-01 Listed $169,900 REALCOMP
• 2026-03-31 Coming Soon $169,900 MiRealSource-MiMLS
• 2010-04-29 Sold (MLS) $36,104 MiRealSource-MiMLS
• 2010-04-29 Sold (MLS) $36,104 REALCOMP
• 2010-04-10 Listing Removed — MiRealSource-MiMLS
• 2010-03-29 Listed $32,500 MiRealSource-MiMLS
• 2010-03-29 Listed $32,500 REALCOMP
• 2004-11-16 Sold (Public Records) $148,000 Public Records
• 2000-06-21 Sold (Public Records) $119,000 Public Records
• 1993-07-27 Sold (Public Records) $71,500 Public Records

Property tax history

-3.4%/yr

Latest (2025): $1,221 · -46.7% YoY. Source: county tax records.