20048 Washtenaw St · Harper Woods, MI 48225

$67,400

3 bd · 1.5 ba · 830 sqft · SingleFamily public records · 48 Days on market

Built 1940 4,792 sqft lot Est $79k · 15% under ↓ 10% since listing

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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 +14.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.8/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity knocks!! Great potential! Three bedroom bungalow with a garage and basement at a really great price!! Price reflects needed repairs and or updates. Being sold strictly as-is. .. seller will do no cleanout nor any repairs. No FHA or VA offers please. All sizes shown are strictly estimates. Information contained in this listing is deemed reliable but not guaranteed. .. .. .buyer or buyer's agent to verify all information. Seller will not consider offers where purchaser has not viewed the property first. City inspection list is in documents/disclosures. Buyer to perform city required repairs for certificate of occupancy at buyer's expense. Owner is a licensed broker in the state of

Key facts

• 4,792 sq ft lot
• Garage
• Built 1940

Property features AI

Finance

• Other: Paved road access; Lot dimensions approximately 40 x 114 (0.11 acre); Subdivision: EAST PARK MANOR SUB 5; Directions: Enter Washtenaw east of Beaconsfield
• Financial info: No investor or income/expense details provided
• HOA & community: No HOA information provided

Exterior

• Parking: Detached garage (1.5 garage spaces)
• Security: No security features provided
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half stories; Ground-level entry with steps; Aluminum siding exterior
• Construction: Block foundation
• Exterior features: Covered porch; Fenced backyard

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: 6 total rooms (bedroom count not specified)
• Flooring: No flooring details provided
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No central cooling
• Interior features: Gas water heater; Unfinished basement
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $67k.

Deal economics

• At list price, monthly cash flow is $634 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $67k).
• Recommended offer: $65k (3.0% below list) — sets the bar for market timing.
• Cap rate 17.6% vs local median 7.7% in Harper Woods — 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 (#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); 134 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $466 of loan paydown is wiped out by about $2k 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 + 5.1% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($65k) is reasonable based on typical stale-listing flexibility.
• 4 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 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,378 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 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 1940 — 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 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?
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: 2.04% ✓
• Cap rate: 17.57%
• Cash-on-cash: 40.29%
• DSCR: 2.79
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $78,850
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11035 Worden St	0.33mi	3/1.0	834 (+0%)	3mo	$55,000	$66	80
20300 Mccormick St	0.18mi	3/1.0	940 (+13%)	1mo	$60,000	$64	67
19239 Beaconsfield St	0.34mi	3/1.0	900 (+8%)	5mo	$100,000	$111	64
12075 Rossiter St	0.59mi	3/1.0	851 (+2%)	4mo	$45,000	$53	63
20301 Kenosha St	0.16mi	3/1.0	949 (+14%)	5mo	$57,000	$60	63
19372 Kenosha St	0.44mi	3/1.0	900 (+8%)	5mo	$155,000	$172	59
19381 Kenosha St	0.44mi	2/1.0 (-1)	892 (+8%)	2mo	$104,000	$117	58
11490 Somerset Ave	0.41mi	3/1.0	915 (+10%)	4mo	$70,000	$77	58
19397 Washtenaw St	0.41mi	2/1.5 (-1)	900 (+8%)	5mo	$105,000	$117	57
19341 Woodside St	0.53mi	3/1.0	935 (+13%)	4mo	$90,000	$96	48
12141 Wayburn St	0.67mi	3/1.0	908 (+9%)	5mo	$11,000	$12	47
10510 Duprey St	0.51mi	3/1.0	947 (+14%)	6mo	$90,000	$95	46

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: 39.0%
• Equity multiple: 2.72×
• Total profit: $32,412
• Equity at exit: $10,050

10-year hold

• IRR: 46.5%
• Equity multiple: 5.93×
• Total profit: $92,951
• Equity at exit: $5,828

Cash invested: $18,872 (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: 134
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,376 high
• Mortgage (P&I): −$353
• Tax from tax record: −$72 /mo · $861/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $634

Break-even live

Break-even rent $574

Max offer price $67,400

Occupancy floor 49%

Sensitivity live

Price	-10% $672	-5% $653	+0% $634	+5% $615	+10% $595
Rent	-10% $525	-5% $579	+0% $634	+5% $688	+10% $742
Rate	-1.0pp $668	-0.5pp $651	base $634	+0.5pp $616	+1.0pp $598

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: $16,850
• Closing costs: $2,022
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19982 McCormick St Detroit, MI	3.0	1.0	866	$1,200	$1.39	4d	1	0.16mi
20461 Kingsville St Harper Woods, MI	4.0	1.0	1100	$1,399	$1.27	16d	1	0.22mi
19661 Kenosha St Harper Woods, MI	3.0	2.0	1000	$1,400	$1.40	25d	1	0.27mi
10985 Peerless St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	6d	1	0.31mi
19639 Moross Rd Unit 1 Detroit, MI	2.0	1.0	900	$1,100	$1.22	45d	1	0.33mi
19442 Kingsville St Harper Woods, MI	3.0	1.0	1000	$1,500	$1.50	18d	1	0.39mi
19365 Kingsville St Harper Woods, MI	4.0	1.5	996	$1,650	$1.66	16d	1	0.46mi
10542 Lanark St Detroit, MI	3.0	1.0	1023	$1,250	$1.22	45d	1	0.50mi
19203 Edgefield St Harper Woods, MI	2.0	1.0	1100	$1,100	$1.00	25d	1	0.57mi
19152 Woodside St Harper Woods, MI	3.0	1.0	916	$1,500	$1.64	18d	1	0.62mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	45d	1	0.62mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	16d	1	0.62mi
19144 Moross Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	45d	1	0.63mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	13d	1	0.68mi
11529 Roxbury St Detroit, MI	2.0	1.0	720	$1,200	$1.67	13d	1	0.72mi
17720 Chester St Detroit, MI	2.0	1.0	986	$1,250	$1.27	45d	1	0.74mi
17710 Chester St Detroit, MI	2.0	1.0	984	$1,250	$1.27	45d	1	0.74mi
11776 Rossiter St Detroit, MI	3.0	1.0	964	$1,150	$1.19	12d	1	0.75mi
21401 Kingsville St Harper Woods, MI	2.0	1.0	944	$1,200	$1.27	25d	1	0.78mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	45d	1	0.79mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	45d	1	0.79mi
6301 Lodewyck St Detroit, MI	3.0	1.0	1084	$1,300	$1.20	13d	1	0.81mi
11611 Morang Ave Detroit, MI	1.0–2.0	1.0	709	$1,040	$1.47	45d	1	0.81mi
6325 Neff Ave Detroit, MI	3.0	1.0	1000	$1,500	$1.50	4d	1	0.84mi
6175 Marseilles St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	45d	1	0.87mi
20015 Lochmoor St Harper Woods, MI	3.0	1.0	1006	$1,500	$1.49	18d	1	0.90mi
6181 Neff Ave Detroit, MI	3.0	1.0	1102	$1,299	$1.18	19d	1	0.91mi
6304 Bluehill St Detroit, MI	3.0	1.0	1088	$1,500	$1.38	45d	1	0.91mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	45d	1	0.93mi
11235 Roxbury St Detroit, MI	3.0	1.0	1062	$1,325	$1.25	18d	1	0.94mi
12716 Riad St Detroit, MI	3.0	1.0	974	$1,275	$1.31	18d	1	0.95mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	4d	1	0.99mi
12201 Morang Ave Unit 8 Detroit, MI	2.0	1.0	610	$875	$1.43	45d	1	1.02mi
5915 Farmbrook St Detroit, MI	3.0	1.5	1000	$1,250	$1.25	25d	1	1.05mi
16212 Maddelein St Detroit, MI	2.0	1.0	800	$1,200	$1.50	13d	1	1.07mi
5955 Guilford St Detroit, MI	3.0	1.0	802	$1,400	$1.75	18d	1	1.08mi
5786 Neff Ave Detroit, MI	3.0	1.5	1100	$1,225	$1.11	18d	1	1.13mi
10404 Somerset Ave Detroit, MI	3.0	1.0	1108	$1,475	$1.33	4d	1	1.17mi
15909 Maddelein St Detroit, MI	3.0	1.0	894	$1,266	$1.42	45d	1	1.22mi
16225 Manning St Detroit, MI	4.0	2.0	1036	$1,475	$1.42	45d	1	1.24mi

Listing history 14 events

1. 2026-06-09
   days on market $67,400 Active 48 DOM
2. 2026-06-08
   days on market $67,400 Active 47 DOM
3. 2026-06-07
   days on market $67,400 Active 46 DOM
4. 2026-06-04
   days on market $67,400 Active 43 DOM
5. 2026-06-03
   days on market $67,400 Active 42 DOM
6. 2026-06-02
   days on market $67,400 Active 41 DOM
7. 2026-06-01
   days on market $67,400 Active 40 DOM
8. 2026-05-31
   days on market $67,400 Active 39 DOM
9. 2026-04-22
   historical
10. 2026-04-22
    historical
11. 2026-04-22
    listed $67,400 Active
12. 2026-04-22
    listed $67,400 Active
13. 2026-03-11
    listed $74,900 Active
14. 2026-03-11
    listed $74,900 Active

ⓘ 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: $861 · $72/mo
• Projected year-2 tax: $950 · $79/mo
• Expected delta: +$88/yr (+$7/mo · 10.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°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: $16,510
• − Mortgage interest: −$3,775
• − Property taxes: −$861
• − Insurance: −$337
• − Repairs & maintenance: −$1,321
• − Management: −$1,321
• − Depreciation: −$1,961
• Taxable income: $6,934
• Est. tax owed @ 24.0%: −$1,664
• After-tax cash flow: $5,939/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

-10.0% since first listed

6 events — show timeline

• 2026-04-22 Listed $67,400 MiRealSource-MiMLS
• 2026-04-22 Listed $67,400 REALCOMP
• 2026-04-22 Listing Removed — MiRealSource-MiMLS
• 2026-04-22 Listing Removed — REALCOMP
• 2026-03-11 Listed $74,900 MiRealSource-MiMLS
• 2026-03-11 Listed $74,900 REALCOMP

Property tax history

-4.6%/yr

Latest (2025): $861 · -56.6% YoY. Source: county tax records.