65 Portage St · Highland Park, MI 48203

$42,500

3 bd · 1.5 ba · 985 sqft · Other public records · 99 Days on market

Built 1915 3,920 sqft lot $43/sqft · 7% below area Est $46k · 9% 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 +11.3/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Excellent investment opportunity in rapidly developing Highland Park! This unique 2-bedroom bungalow features an enclosed porch, bonus side lot, and a rare primary bedroom with its own sink. Located just minutes from Woodward, Palmer Park, and the Detroit Golf Club. With a little TLC, this property has incredible potential - grab it at this price while you can! BATVAI

Key facts

• 3,920 sq ft lot
• Built 1915
• Listed 99 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath other listed at $42k.

Deal economics

• At list price, monthly cash flow is $627 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $42k).
• Recommended offer: $39k (9.0% below list) — sets the bar for market timing.
• Cap rate 24.0% vs local median 14.2% in Highland 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 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; 15 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 37% of the median local income ($38k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $294 of loan paydown is wiped out by about $1k 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 $12k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• 20 sale attempts since 8y ago; this cycle's ask has dropped $17k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $8k; list at $42k implies a 431% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $38,675 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.82% ✓
• Cap rate: 23.99%
• Cash-on-cash: 63.20%
• DSCR: 3.81
• GRM: 3.0

CMA / ARV

• ARV (median comp): $46,466
• List price: $42,500
• Delta: -8.53%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 62.2%
• Equity multiple: 3.78×
• Total profit: $33,066
• Equity at exit: $6,337

10-year hold

• IRR: 66.8%
• Equity multiple: 7.75×
• Total profit: $80,332
• Equity at exit: $3,675

Cash invested: $11,900 (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: 3.0×

Monthly cashflow live

• Estimated rent: $1,197 high
• Mortgage (P&I): −$223
• Tax from tax record: −$79 /mo · $943/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $627

Break-even live

Break-even rent $404

Max offer price $42,500

Occupancy floor 43%

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: $10,625
• Closing costs: $1,275
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
941 Merton Rd Highland Park, MI	2.0	1.0	850	$1,000	$1.18	43d	1	0.15mi
730 Whitmore Rd Detroit, MI	1.0–2.0	1.0	850	$850	$1.00	43d	3	0.19mi
17449 Manderson Rd Unit 1 Detroit, MI	2.0	1.0	750	$1,150	$1.53	24d	1	0.22mi
931 Covington Dr Unit 202 Highland Park, MI	2.0	2.0	550	$1,400	$2.55	43d	1	0.33mi
17765 Manderson Rd Unit 14 Highland Park, MI	2.0	1.0	1000	$1,175	$1.18	43d	1	0.48mi
17765 Manderson Rd Unit 8 Highland Park, MI	2.0	1.0	1000	$1,215	$1.22	1d	1	0.48mi
16927 Inverness St Detroit, MI	2.0	1.0	897	$1,650	$1.84	16d	1	0.53mi
406 W Goldengate St Detroit, MI	2.0	1.0	1050	$1,100	$1.05	43d	1	0.88mi
404 W Golden Gate Highland Park, MI	2.0	1.0	1050	$1,100	$1.05	43d	1	0.89mi
16174 Princeton St Detroit, MI	2.0	1.0	985	$1,100	$1.12	19d	1	0.89mi
16174 Princeton St Unit 2 Detroit, MI	2.0	1.0	985	$1,100	$1.12	43d	1	0.89mi
15906 Alden St Detroit, MI	3.0	1.0	1030	$1,150	$1.12	16d	1	1.04mi
27 Pasadena St Highland Park, MI	2.0	1.0	900	$825	$0.92	43d	1	1.17mi
17215 Warrington Dr Detroit, MI	2.0	1.0	1015	$2,000	$1.97	43d	1	1.39mi
127 W Buena Vista St Unit 129 Highland Park, MI	2.0	1.0	800	$1,000	$1.25	43d	1	1.44mi

Listing history 50 events

1. 2026-06-18
   days on market $42,500 Active 99 DOM
2. 2026-06-17
   days on market $42,500 Active 98 DOM
3. 2026-06-16
   days on market $42,500 Active 97 DOM
4. 2026-06-15
   days on market $42,500 Active 96 DOM
5. 2026-06-13
   days on market $42,500 Active 94 DOM
6. 2026-06-09
   days on market $42,500 Active 90 DOM
7. 2026-06-08
   days on market $42,500 Active 89 DOM
8. 2026-06-07
   days on market $42,500 Active 88 DOM
9. 2026-06-04
   days on market $42,500 Active 85 DOM
10. 2026-06-03
    days on market $42,500 Active 84 DOM
11. 2026-06-02
    days on market $42,500 Active 83 DOM
12. 2026-06-02
    price $42,500 Active 82 DOM
13. 2026-06-01
    days on market $45,000 Active 82 DOM
14. 2026-05-31
    days on market $45,000 Active 81 DOM
15. 2026-05-08
    price $45,000 370-char remark

    Show marketing remark (374 chars)

    Excellent investment opportunity in rapidly developing Highland Park! This unique 2-bedroom bungalow features an enclosed porch, bonus side lot, and a rare primary bedroom with its own sink. Located just minutes from Woodward, Palmer Park, and the Detroit Golf Club. With a little TLC, this property has incredible potential—grab it at this price while you can! BATVAI

16. 2026-05-08
    status Active 370-char remark

    Show marketing remark (374 chars)

    Excellent investment opportunity in rapidly developing Highland Park! This unique 2-bedroom bungalow features an enclosed porch, bonus side lot, and a rare primary bedroom with its own sink. Located just minutes from Woodward, Palmer Park, and the Detroit Golf Club. With a little TLC, this property has incredible potential—grab it at this price while you can! BATVAI

17. 2026-05-08
    status Active 374-char remark

    Show marketing remark (374 chars)

    Excellent investment opportunity in rapidly developing Highland Park! This unique 2-bedroom bungalow features an enclosed porch, bonus side lot, and a rare primary bedroom with its own sink. Located just minutes from Woodward, Palmer Park, and the Detroit Golf Club. With a little TLC, this property has incredible potential—grab it at this price while you can! BATVAI

18. 2026-05-08
    price $45,000 374-char remark

    Show marketing remark (374 chars)

    Excellent investment opportunity in rapidly developing Highland Park! This unique 2-bedroom bungalow features an enclosed porch, bonus side lot, and a rare primary bedroom with its own sink. Located just minutes from Woodward, Palmer Park, and the Detroit Golf Club. With a little TLC, this property has incredible potential—grab it at this price while you can! BATVAI

19. 2026-04-29
    historical Accepting Backup Offers 370-char remark

    Show marketing remark (374 chars)

    Excellent investment opportunity in rapidly developing Highland Park! This unique 2-bedroom bungalow features an enclosed porch, bonus side lot, and a rare primary bedroom with its own sink. Located just minutes from Woodward, Palmer Park, and the Detroit Golf Club. With a little TLC, this property has incredible potential—grab it at this price while you can! BATVAI

20. 2026-04-29
    historical Active Under Contract 374-char remark

    Show marketing remark (374 chars)

    Excellent investment opportunity in rapidly developing Highland Park! This unique 2-bedroom bungalow features an enclosed porch, bonus side lot, and a rare primary bedroom with its own sink. Located just minutes from Woodward, Palmer Park, and the Detroit Golf Club. With a little TLC, this property has incredible potential—grab it at this price while you can! BATVAI

21. 2026-04-27
    price $49,900 370-char remark

    Show marketing remark (374 chars)

    Excellent investment opportunity in rapidly developing Highland Park! This unique 2-bedroom bungalow features an enclosed porch, bonus side lot, and a rare primary bedroom with its own sink. Located just minutes from Woodward, Palmer Park, and the Detroit Golf Club. With a little TLC, this property has incredible potential—grab it at this price while you can! BATVAI

22. 2026-04-27
    price $49,900 374-char remark

    Show marketing remark (374 chars)

    Excellent investment opportunity in rapidly developing Highland Park! This unique 2-bedroom bungalow features an enclosed porch, bonus side lot, and a rare primary bedroom with its own sink. Located just minutes from Woodward, Palmer Park, and the Detroit Golf Club. With a little TLC, this property has incredible potential—grab it at this price while you can! BATVAI

23. 2026-04-11
    price $54,900 370-char remark

    Show marketing remark (370 chars)

    Excellent investment opportunity in rapidly developing Highland Park! This unique 2-bedroom bungalow features an enclosed porch, bonus side lot, and a rare primary bedroom with its own sink. Located just minutes from Woodward, Palmer Park, and the Detroit Golf Club. With a little TLC, this property has incredible potential - grab it at this price while you can! BATVAI

24. 2026-04-10
    price $54,900 374-char remark

    Show marketing remark (374 chars)

    Excellent investment opportunity in rapidly developing Highland Park! This unique 2-bedroom bungalow features an enclosed porch, bonus side lot, and a rare primary bedroom with its own sink. Located just minutes from Woodward, Palmer Park, and the Detroit Golf Club. With a little TLC, this property has incredible potential—grab it at this price while you can! BATVAI

25. 2026-03-11
    listed $59,900 Active 370-char remark

    Show marketing remark (374 chars)

    Excellent investment opportunity in rapidly developing Highland Park! This unique 2-bedroom bungalow features an enclosed porch, bonus side lot, and a rare primary bedroom with its own sink. Located just minutes from Woodward, Palmer Park, and the Detroit Golf Club. With a little TLC, this property has incredible potential—grab it at this price while you can! BATVAI

26. 2026-03-11
    listed $59,900 Active 374-char remark

    Show marketing remark (374 chars)

    Excellent investment opportunity in rapidly developing Highland Park! This unique 2-bedroom bungalow features an enclosed porch, bonus side lot, and a rare primary bedroom with its own sink. Located just minutes from Woodward, Palmer Park, and the Detroit Golf Club. With a little TLC, this property has incredible potential—grab it at this price while you can! BATVAI

27. 2026-02-28
    historical
28. 2026-02-28
    historical
29. 2026-01-15
    price $59,900
30. 2026-01-14
    price $59,900
31. 2025-11-10
    listed $67,500 Active
32. 2025-11-10
    listed $67,500 Active
33. 2025-09-01
    historical
34. 2025-09-01
    historical
35. 2025-06-11
    price $49,900
36. 2025-06-10
    price $49,900
37. 2025-05-24
    price $54,900
38. 2025-05-23
    price $54,900
39. 2025-02-08
    listed $59,900 Active
40. 2025-02-07
    listed $59,900 Active
41. 2024-03-06
    historical
42. 2024-03-06
    historical
43. 2024-01-02
    status Active
44. 2024-01-02
    status Active
45. 2024-01-01
    historical
46. 2024-01-01
    historical
47. 2023-11-25
    price $32,000
48. 2023-11-24
    price $32,000
49. 2023-07-06
    price $39,900
50. 2023-07-06
    price $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: $943 · $79/mo
• Projected year-2 tax: $943 · $79/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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 13 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: $14,368
• − Mortgage interest: −$2,381
• − Property taxes: −$943
• − Insurance: −$212
• − Repairs & maintenance: −$1,149
• − Management: −$1,149
• − Depreciation: −$1,236
• Taxable income: $7,297
• Est. tax owed @ 24.0%: −$1,751
• After-tax cash flow: $5,770/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
• City population: 572,865
• 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

+200.0% since first listed

66 events — show timeline

• 2026-05-08 Price Changed $45,000 MiRealSource-MiMLS
• 2026-05-08 Relisted — MiRealSource-MiMLS
• 2026-05-08 Relisted — REALCOMP
• 2026-05-08 Price Changed $45,000 REALCOMP
• 2026-04-29 Contingent — MiRealSource-MiMLS
• 2026-04-29 Contingent — REALCOMP
• 2026-04-27 Price Changed $49,900 MiRealSource-MiMLS
• 2026-04-27 Price Changed $49,900 REALCOMP
• 2026-04-11 Price Changed $54,900 MiRealSource-MiMLS
• 2026-04-10 Price Changed $54,900 REALCOMP
• 2026-03-11 Listed $59,900 REALCOMP
• 2026-03-11 Listed $59,900 MiRealSource-MiMLS
• 2026-02-28 Listing Removed — MiRealSource-MiMLS
• 2026-02-28 Listing Removed — REALCOMP
• 2026-01-15 Price Changed $59,900 MiRealSource-MiMLS
• 2026-01-14 Price Changed $59,900 REALCOMP
• 2025-11-10 Listed $67,500 REALCOMP
• 2025-11-10 Listed $67,500 MiRealSource-MiMLS
• 2025-09-01 Listing Removed — REALCOMP
• 2025-09-01 Listing Removed — MiRealSource-MiMLS
• 2025-06-11 Price Changed $49,900 MiRealSource-MiMLS
• 2025-06-10 Price Changed $49,900 REALCOMP
• 2025-05-24 Price Changed $54,900 MiRealSource-MiMLS
• 2025-05-23 Price Changed $54,900 REALCOMP
• 2025-02-08 Listed $59,900 MiRealSource-MiMLS
• 2025-02-07 Listed $59,900 REALCOMP
• 2024-03-06 Listing Removed — MiRealSource-MiMLS
• 2024-03-06 Listing Removed — REALCOMP
• 2024-01-02 Relisted — MiRealSource-MiMLS
• 2024-01-02 Relisted — REALCOMP
• 2024-01-01 Listing Removed — MiRealSource-MiMLS
• 2024-01-01 Listing Removed — REALCOMP
• 2023-11-25 Price Changed $32,000 MiRealSource-MiMLS
• 2023-11-24 Price Changed $32,000 REALCOMP
• 2023-07-06 Price Changed $39,900 MiRealSource-MiMLS
• 2023-07-06 Price Changed $39,900 REALCOMP
• 2023-06-17 Price Changed $42,000 MiRealSource-MiMLS
• 2023-06-16 Price Changed $42,000 REALCOMP
• 2023-05-25 Price Changed $48,000 MiRealSource-MiMLS
• 2023-05-25 Price Changed $48,000 REALCOMP
• 2023-05-10 Price Changed $52,000 MiRealSource-MiMLS
• 2023-05-10 Price Changed $52,000 REALCOMP
• 2023-04-19 Price Changed $59,900 MiRealSource-MiMLS
• 2023-04-18 Price Changed $59,900 REALCOMP
• 2023-04-11 Listed $64,900 MiRealSource-MiMLS
• 2023-04-11 Listed $64,900 REALCOMP
• 2019-10-04 Sold (MLS) $8,000 MiRealSource-MiMLS
• 2019-10-04 Sold (MLS) $8,000 REALCOMP
• 2019-08-17 Pending — REALCOMP
• 2019-08-17 Listing Removed — MiRealSource-MiMLS
• 2019-08-17 Listed $9,900 MiRealSource-MiMLS
• 2019-08-17 Listed $9,900 REALCOMP
• 2019-08-12 Listing Removed — REALCOMP
• 2019-08-11 Listing Removed — MiRealSource-MiMLS
• 2019-07-11 Price Changed $9,999 MiRealSource-MiMLS
• 2019-07-11 Price Changed $9,999 REALCOMP
• 2019-04-11 Relisted — MiRealSource-MiMLS
• 2019-04-11 Relisted — REALCOMP
• 2019-03-14 Pending — MiRealSource-MiMLS
• 2019-03-14 Pending — REALCOMP
• 2019-02-11 Listed $11,900 MiRealSource-MiMLS
• 2019-02-11 Listed $11,900 REALCOMP
• 2018-08-14 Listing Removed — REALCOMP
• 2018-08-14 Listing Removed — MiRealSource-MiMLS
• 2018-04-18 Listed $15,000 MiRealSource-MiMLS
• 2018-04-18 Listed $15,000 REALCOMP

Property tax history

+0.5%/yr

Latest (2025): $943 · -18.5% YoY. Source: county tax records.