1848 Garfield Ave · Lincoln Park, MI 48146

$107,000

3 bd · 1.0 ba · 960 sqft · SingleFamily public records · 111 Days on market

Built 1954 7,841 sqft lot Est $160k · 33% under

---

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 +29.8/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home is situated on a double sized lot on a nice street. This home is surrounded by shopping and restaurants while providing easy access to freeways. This home needs a great deal of updating. The work has been started. Finish this home to exactly to your liking. Sold As Is

Key facts

• Double sized lot
• 7,841 sq ft lot
• Built 1954

Tags

• DOUBLE SIZED LOT
• EASY ACCESS TO FREEWAYS

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Ground-level entry with steps
• Construction: Aluminum siding; Brick/mortar foundation
• Exterior features: Paved road access; Lot approximately 0.18 acres (66.6 x 118.5)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling system
• Interior features: 3 total rooms; Unfinished basement; Basement present

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $107k.

Deal economics

• At list price, monthly cash flow is $391 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $107k).
• Recommended offer: $97k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.7% vs local median 6.5% in Lincoln 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 80/100 on livability (#82 in MI, #1,720 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment D-.
• Lincoln Park School District (suburban): math 15% / reading 32% proficiency, ranked #440 of 540 in MI (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Max Paun School (math 32% / reading 32%, grade F, #814 of 1,397 statewide, top 61%, 311 students, 92% FRL); Lincoln Park Middle School (math 12% / reading 35%, grade F, #399 of 493 statewide, top 81%, 1,105 students, 86% FRL); Lincoln Park High School (math 5% / reading 33%, grade F, #630 of 713 statewide, top 88%, 1,367 students, 79% FRL).
• Market conditions: Rents rising fast (+4.7%/yr); 154 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 $740 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 + 4.7% rent growth), your $30k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 111 days — a 9% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 7% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $97,370 (9.0% below list)

Questions for the listing agent

1. It's been on market 111 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 1954 — 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 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?
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: 1.31% ✓
• Cap rate: 10.68%
• Cash-on-cash: 15.67%
• DSCR: 1.70
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $160,320
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1766 White Ave	0.14mi	3/1.0	900 (-6%)	2mo	$165,000	$183	82
1765 Garfield Ave	0.12mi	3/1.0	886 (-8%)	1mo	$165,000	$186	81
2119 White Ave	0.24mi	3/1.0	1,000 (+4%)	1mo	$166,500	$167	81
1865 Euclid St	0.58mi	2/1.0 (-1)	960 (0%)	4mo	$108,000	$113	64
1591 Garfield Ave	0.36mi	3/1.0	1,080 (+12%)	0mo	$144,700	$134	62
1588 Garfield Ave	0.37mi	2/1.0 (-1)	864 (-10%)	2mo	$128,000	$148	60
14576 Oceana Ave	0.53mi	3/1.0	1,042 (+8%)	2mo	$175,000	$168	59
15044 Oceana Ave	0.73mi	3/1.0	1,000 (+4%)	2mo	$195,000	$195	57
1921 Hanford Ave	0.74mi	3/1.0	912 (-5%)	4mo	$80,000	$88	54
2359 Detroit Ave	0.69mi	3/1.0	1,080 (+12%)	1mo	$196,000	$181	46
1370 Garfield Ave	0.65mi	2/1.0 (-1)	864 (-10%)	3mo	$72,500	$84	46
2191 Keppen Blvd	0.75mi	3/1.0	1,104 (+15%)	6mo	$125,000	$113	35

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 · 4.65% rent growth · sell at horizon

5-year hold

• IRR: 8.3%
• Equity multiple: 1.33×
• Total profit: $9,956
• Equity at exit: $15,954

10-year hold

• IRR: 18.9%
• Equity multiple: 2.70×
• Total profit: $50,831
• Equity at exit: $9,251

Cash invested: $29,960 (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 48146

• Home prices YoY: -32.7%
• Rents YoY: 4.7%
• Active inventory: 154
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,402 high
• Mortgage (P&I): −$561
• Tax from tax record: −$111 /mo · $1,331/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $391

Break-even live

Break-even rent $907

Max offer price $107,000

Occupancy floor 67%

Sensitivity live

Price	-10% $452	-5% $422	+0% $391	+5% $361	+10% $331
Rent	-10% $280	-5% $336	+0% $391	+5% $447	+10% $502
Rate	-1.0pp $445	-0.5pp $418	base $391	+0.5pp $364	+1.0pp $335

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: $26,750
• Closing costs: $3,210
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1552 Hanover St Lincoln Park, MI	2.0	1.0	800	$1,250	$1.56	26d	1	0.49mi
1532 Euclid St #1 Lincoln Park, MI	2.0	1.0	850	$1,450	$1.71	26d	1	0.69mi
1524 Cicotte Ave Lincoln Park, MI	2.0	1.0	900	$1,250	$1.39	16d	1	0.88mi
1774 College Ave Lincoln Park, MI	3.0	1.0	944	$1,525	$1.62	0d	1	0.94mi
2235 Moore Rd Unit 1 Lincoln Park, MI	2.0	1.0	800	$1,000	$1.25	26d	1	1.02mi
1537 Chandler Ave Lincoln Park, MI	2.0	1.0	725	$1,100	$1.52	19d	1	1.07mi
15806 Meyer Ave Allen Park, MI	3.0	2.0	1100	$1,650	$1.50	3d	1	1.08mi
1774 Council Ave Lincoln Park, MI	3.0	1.0	864	$1,500	$1.74	0d	1	1.15mi
1343 Pagel Ave Unit 2-Upper Lincoln Park, MI	2.0	1.0	1000	$1,250	$1.25	19d	1	1.19mi
9725 Fox Ave Allen Park, MI	3.0	1.5	940	$1,850	$1.97	45d	1	1.24mi
875 Raupp Pl Unit 2 Lincoln Park, MI	2.0	1.0	800	$970	$1.21	18d	1	1.27mi
1581 Empire Ave Lincoln Park, MI	2.0	1.0	900	$1,350	$1.50	26d	1	1.43mi

Listing history 5 events

1. 2026-05-31
   days on market $107,000 Active 111 DOM
2. 2026-02-10
   price $107,000 278-char remark

   Show marketing remark (278 chars)

   This home is situated on a double sized lot on a nice street. This home is surrounded by shopping and restaurants while providing easy access to freeways. This home needs a great deal of updating. The work has been started. Finish this home to exactly to your liking. Sold As Is

3. 2026-02-09
   price $107,000

   Show marketing remark (278 chars)

   This home is situated on a double sized lot on a nice street. This home is surrounded by shopping and restaurants while providing easy access to freeways. This home needs a great deal of updating. The work has been started. Finish this home to exactly to your liking. Sold As Is

4. 2026-02-09
   listed $100,000 Active

   Show marketing remark (278 chars)

   This home is situated on a double sized lot on a nice street. This home is surrounded by shopping and restaurants while providing easy access to freeways. This home needs a great deal of updating. The work has been started. Finish this home to exactly to your liking. Sold As Is

5. 2026-02-09
   listed $100,000 Active 278-char remark

   Show marketing remark (278 chars)

   This home is situated on a double sized lot on a nice street. This home is surrounded by shopping and restaurants while providing easy access to freeways. This home needs a great deal of updating. The work has been started. Finish this home to exactly to your liking. Sold As Is

ⓘ 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: $1,331 · $111/mo
• Projected year-2 tax: $1,489 · $124/mo
• Expected delta: +$158/yr (+$13/mo · 11.9%)

ⓘ 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 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,829
• − Mortgage interest: −$5,994
• − Property taxes: −$1,331
• − Insurance: −$535
• − Repairs & maintenance: −$1,346
• − Management: −$1,346
• − Depreciation: −$3,113
• Taxable income: $3,164
• Est. tax owed @ 24.0%: −$759
• After-tax cash flow: $3,936/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: Lincoln Park School District
• NCES district ID: 2621600
• Math proficiency: 15% ▼ -5.00%
• Reading proficiency: 32% ▬ 0.00%
• Median HH income: $41,486
• Composite: 19.93/100
• National rank: #8678
• State rank: #440 of 540 in MI

Livability — Lincoln Park

• Score: 80/100
• State rank: #82
• US rank: #1720

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lincoln Park, MI
• County: Wayne County · 1,562,939 people
• City population: 39,257
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 39,257
• Household income: $58,616
• Rent vs Own: 31.2% rent · 68.8% own
• Severe rent burden: 1142.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 60% Hispanic / Latino 25% Two or more races 12% Black 9% Native American 1%
• Hispanic origin (detail): Mexican 19% Puerto Rican 3%
• Common ancestry: Romanian 6% Lithuanian 4% Slovak 1%
• Foreign-born: 9% · Canada
• Languages at home: 80% English-only · Spanish 17% Arabic 2%

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: ▼ -108.25%
• Current HPI: 222.8545
• Rent YoY: ▲ 4.65%
• 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

+7.0% since first listed

4 events — show timeline

• 2026-02-10 Price Changed $107,000 MiRealSource-MiMLS
• 2026-02-09 Price Changed $107,000 REALCOMP
• 2026-02-09 Listed $100,000 REALCOMP
• 2026-02-09 Listed $100,000 MiRealSource-MiMLS

Property tax history

+0.2%/yr

Latest (2025): $1,331 · -19.0% YoY. Source: county tax records.