224 Tennyson St · Highland Park, MI 48203

$30,000

4 bd · 1.5 ba · 1,567 sqft · Other public records · 22 Days on market

Built 1911 5,227 sqft lot ↓ 54% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

INVESTOR SPECIAL! As-Is. This is a great renovation project in one of the best neighborhoods in Highland Park. Just two blocks from Woodward and minutes away from Midtown. This home has amazing potential!

Key facts

• 5,227 sq ft lot
• Garage
• Built 1911

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water available; Public sewer available
• Home design: Single-family residence; Two-story home; Ground-level entry with steps
• Construction: Aluminum siding
• Exterior features: Paved road access; Lot dimensions approximately 40 x 131.4 (0.12 acre)

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Full unfinished basement; 7 total rooms

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath other listed at $30k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $30k).
• Recommended offer: $30k (1.5% below list) — sets the bar for market timing.
• Cap rate 52.4% 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; 20 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 $1,722/mo this rent would consume 54% 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 $207 of loan paydown is wiped out by about $900 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 $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($30k) is reasonable based on typical stale-listing flexibility.
• 9 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.

Risks & watch-outs

• Watch-outs: built in 1911 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $29,550 (1.5% below list)

Questions for the listing agent

1. Built in 1911 — 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 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?
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: 5.74% ✓
• Cap rate: 52.40%
• Cash-on-cash: 164.67%
• DSCR: 8.33
• GRM: 1.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 9.16×
• Total profit: $68,582
• Equity at exit: $4,473

10-year hold

• IRR: —
• Equity multiple: 19.38×
• Total profit: $154,362
• Equity at exit: $2,594

Cash invested: $8,400 (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: 1.5×

Monthly cashflow live

• Estimated rent: $1,722 high
• Mortgage (P&I): −$157
• Tax est. 1.5%: −$38 /mo · $450/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $1,153

Break-even live

Break-even rent $262

Max offer price $30,000

Occupancy floor 28%

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
520 Englewood St Detroit, MI	4.0	1.5	1086	$1,725	$1.59	24d	1	0.13mi
613 Belmont St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	17d	1	0.33mi
165 Rhode Island St Highland Park, MI	4.0	1.5	1639	$1,200	$0.73	17d	1	0.35mi
101 Colorado St Unit NA Highland Park, MI	4.0	1.5	1695	$1,500	$0.88	24d	1	0.47mi
41 Richton St Highland Park, MI	5.0	2.0	1871	$1,800	$0.96	14d	1	0.57mi
41 Richton St Highland Park, MI	5.0	2.0	1871	$1,800	$0.96	1d	1	0.57mi
505 Westminster St Detroit, MI	3.0	1.0	1700	$1,400	$0.82	17d	1	0.60mi
330 Westminster St Unit NA Detroit, MI	3.0	1.0	1995	$1,900	$0.95	43d	1	0.63mi
330 Westminster St Detroit, MI	3.0	1.0	1995	$1,900	$0.95	23d	1	0.63mi
168 Beresford St Highland Park, MI	4.0	1.0	1541	$1,475	$0.96	17d	1	0.72mi
64 Glendale St Highland Park, MI	4.0	1.0	1464	$1,500	$1.02	10d	1	0.76mi
419 King St Detroit, MI	3.0	1.0	1668	$2,300	$1.38	10d	1	0.99mi
216 Holbrook Unit Na Detroit, MI	4.0	2.0	2000	$2,200	$1.10	1d	1	0.99mi
216 Holbrook St Detroit, MI	4.0	2.0	2000	$2,000	$1.00	21d	1	0.99mi
528 E Philadelphia St Detroit, MI	3.0	1.0	1625	$2,400	$1.48	1d	1	1.19mi
1427 Calvert Ave Detroit, MI	3.0	1.0	1100	$1,850	$1.68	24d	1	1.19mi
1427 Calvert Ave Detroit, MI	3.0	1.0	1100	$1,750	$1.59	43d	1	1.19mi
8416 Brush St Detroit, MI	3.0	1.5	1200	$2,200	$1.83	1d	1	1.22mi
8410 Brush St Detroit, MI	3.0	2.5	1300	$2,200	$1.69	1d	1	1.23mi
9844 Woodrow Wilson St Detroit, MI	3.0	1.0	1187	$1,300	$1.10	12d	1	1.33mi

Listing history 33 events

1. 2026-06-18
   days on market $30,000 Active 22 DOM
2. 2026-06-17
   days on market $30,000 Active 21 DOM
3. 2026-06-16
   days on market $30,000 Active 20 DOM
4. 2026-06-15
   days on market $30,000 Active 19 DOM
5. 2026-06-13
   days on market $30,000 Active 17 DOM
6. 2026-06-09
   days on market $30,000 Active 13 DOM
7. 2026-06-08
   days on market $30,000 Active 12 DOM
8. 2026-06-07
   days on market $30,000 Active 11 DOM
9. 2026-06-04
   days on market $30,000 Active 8 DOM
10. 2026-06-03
    days on market $30,000 Active 7 DOM
11. 2026-06-02
    days on market $30,000 Active 6 DOM
12. 2026-06-01
    days on market $30,000 Active 5 DOM
13. 2026-05-31
    days on market $30,000 Active 4 DOM
14. 2026-05-27
    listed $30,000 Active

    Show marketing remark (204 chars)

    INVESTOR SPECIAL! As-Is. This is a great renovation project in one of the best neighborhoods in Highland Park. Just two blocks from Woodward and minutes away from Midtown. This home has amazing potential!

15. 2026-05-27
    listed $30,000 Active 204-char remark

    Show marketing remark (204 chars)

    INVESTOR SPECIAL! As-Is. This is a great renovation project in one of the best neighborhoods in Highland Park. Just two blocks from Woodward and minutes away from Midtown. This home has amazing potential!

16. 2026-04-11
    historical
17. 2026-04-11
    historical
18. 2026-02-06
    price $37,500
19. 2026-02-05
    price $37,500
20. 2026-01-22
    status Active
21. 2026-01-21
    historical
22. 2025-11-26
    price $42,500
23. 2025-11-26
    price $42,500
24. 2025-10-14
    listed $55,000 Active
25. 2025-10-14
    listed $55,000 Active
26. 2025-07-17
    historical
27. 2025-07-17
    historical
28. 2025-02-03
    status Active
29. 2025-02-03
    status Active
30. 2025-01-27
    historical Accepting Backup Offers
31. 2025-01-26
    historical Active Under Contract
32. 2025-01-15
    listed $65,000 Active
33. 2025-01-15
    listed $65,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 74% 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 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,659
• − Mortgage interest: −$1,680
• − Property taxes: −$450
• − Insurance: −$150
• − Repairs & maintenance: −$1,653
• − Management: −$1,653
• − Depreciation: −$873
• Taxable income: $14,200
• Est. tax owed @ 24.0%: −$3,408
• After-tax cash flow: $10,425/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

-53.8% since first listed

20 events — show timeline

• 2026-05-27 Listed $30,000 REALCOMP
• 2026-05-27 Listed $30,000 MiRealSource-MiMLS
• 2026-04-11 Listing Removed — REALCOMP
• 2026-04-11 Listing Removed — MiRealSource-MiMLS
• 2026-02-06 Price Changed $37,500 MiRealSource-MiMLS
• 2026-02-05 Price Changed $37,500 REALCOMP
• 2026-01-22 Relisted — REALCOMP
• 2026-01-21 Listing Removed — REALCOMP
• 2025-11-26 Price Changed $42,500 MiRealSource-MiMLS
• 2025-11-26 Price Changed $42,500 REALCOMP
• 2025-10-14 Listed $55,000 REALCOMP
• 2025-10-14 Listed $55,000 MiRealSource-MiMLS
• 2025-07-17 Listing Removed — REALCOMP
• 2025-07-17 Listing Removed — MiRealSource-MiMLS
• 2025-02-03 Relisted — MiRealSource-MiMLS
• 2025-02-03 Relisted — REALCOMP
• 2025-01-27 Contingent — MiRealSource-MiMLS
• 2025-01-26 Contingent — REALCOMP
• 2025-01-15 Listed $65,000 REALCOMP
• 2025-01-15 Listed $65,000 MiRealSource-MiMLS

Property tax history

+5.7%/yr

Latest (2025): $2,374 · -18.5% YoY. Source: county tax records.