2049 Regina Ave · Lincoln Park, MI 48146

$169,000

3 bd · 1.0 ba · 1,080 sqft · SingleFamily public records · 8 Days on market

Built 1950 5,663 sqft lot Est $181k · 7% under

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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 +15.2/30.0
• ARV discount +10.6/15.0
• DSCR +4.7/10.0
• Livability +4.0/5.0
• 1% rule +3.8/10.0
• 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

Welcome to this charming Lincoln Park bungalow situated on a larger-than-normal 46 x 124 lot! This vinyl-sided home offers great curb appeal with a huge covered front porch, perfect for rainy days or enjoying your morning coffee. Step inside to a spacious living room with a nice cutout opening to the kitchen, giving the home a comfortable and open feel. The kitchen features darker oak cabinetry, plenty of counter space, and all appliances are included. The main floor offers two bedrooms and a full bath with a newer surround. Upstairs you'll find a large bedroom with tons of storage space. The wide-open basement includes a half bath and offers great potential for extra living space, storage, or future finishing. Outside, enjoy a larger-than-normal Lincoln Park yard along with a large detached garage. This is a great opportunity for buyers looking for space, value, and quick occupancy. Buyer friendly, easy to show, and ready for its next owner!

Key facts

• Covered front porch
• Darker oak cabinetry
• Large bedroom

Tags

• LINCOLN PARK BUNGALOW
• COVERED FRONT PORCH
• DARKER OAK CABINETRY
• LARGE BEDROOM
• WIDE-OPEN BASEMENT
• LARGER-THAN-NORMAL YARD

Property features AI

Finance

• Other: Pets allowed (cats and dogs)

Exterior

• Parking: Detached covered garage; Approximately 2.5 garage spaces
• Utilities: Public water; Public sewer; Water and sewer available; Electric service available
• Home design: Single family residence; One-and-a-half story; Ground-level entry
• Construction: Vinyl siding; Block foundation; Built with asphalt roofing
• Exterior features: Porch; Back yard with fencing; Paved road access; Asphalt roof

Interior

• Kitchen: Free-standing gas range; Free-standing refrigerator; Dishwasher not listed
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; Ceiling fans
• Interior features: Gas water heater; Full unfinished basement; 6 total rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $169k.

Deal economics

• At list price, monthly cash flow is $58 ($698/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 $149k (11.9% below list).
• Recommended offer: $149k (11.9% below list) — sets the bar for 1% rule.

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).
• This rent runs 30% of the median local income ($59k/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 $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

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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 $74k; list at $169k implies a 128% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $148,954 (11.9% below list)

Questions for the listing agent

1. Built in 1950 — 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: 0.88% ✗
• Cap rate: 6.71%
• Cash-on-cash: 1.48%
• DSCR: 1.07
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $181,440
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2042 Thomas St	0.07mi	3/1.0	1,093 (+1%)	8mo	$165,000	$151	88
14576 Oceana Ave	0.22mi	3/1.0	1,042 (-4%)	2mo	$175,000	$168	82
2359 Detroit Ave	0.38mi	3/1.0	1,080 (0%)	1mo	$196,000	$181	81
2366 Progress Ave	0.30mi	3/1.0	1,120 (+4%)	3mo	$145,000	$129	77
2119 White Ave	0.31mi	3/1.0	1,000 (-7%)	1mo	$166,500	$167	73
1591 Garfield Ave	0.59mi	3/1.0	1,080 (0%)	0mo	$144,700	$134	72
15093 White Ave	0.57mi	3/1.0	1,132 (+5%)	0mo	$215,000	$190	65
15044 Oceana Ave	0.46mi	3/1.0	1,000 (-7%)	2mo	$195,000	$195	64
1836 Garfield Ave	0.32mi	2/1.0 (-1)	1,190 (+10%)	2mo	$135,000	$113	61
14865 Philomene Blvd	0.48mi	3/1.0	989 (-8%)	7mo	$189,000	$191	58
7208 Rosedale Blvd	0.31mi	3/2.0	1,214 (+12%)	7mo	$220,000	$181	55
1575 Philomene Blvd	0.65mi	3/1.0	1,200 (+11%)	3mo	$130,000	$108	49

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: -12.2%
• Equity multiple: 0.55×
• Total profit: $-21,174
• Equity at exit: $25,198

10-year hold

• IRR: -0.9%
• Equity multiple: 0.94×
• Total profit: $-3,031
• Equity at exit: $14,612

Cash invested: $47,320 (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: 9.5×

Monthly cashflow live

• Estimated rent: $1,490 high
• Mortgage (P&I): −$886
• Tax from tax record: −$162 /mo · $1,943/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $58

Break-even live

Break-even rent $1,416

Max offer price $169,000

Occupancy floor 91%

Sensitivity live

Price	-10% $154	-5% $106	+0% $58	+5% $10	+10% $-37
Rent	-10% $-59	-5% $-1	+0% $58	+5% $117	+10% $176
Rate	-1.0pp $143	-0.5pp $101	base $58	+0.5pp $14	+1.0pp $-30

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2235 Moore Rd Unit 1 Lincoln Park, MI	2.0	1.0	800	$1,000	$1.25	26d	1	0.73mi
1552 Hanover St Lincoln Park, MI	2.0	1.0	800	$1,250	$1.56	26d	1	0.79mi
9725 Fox Ave Allen Park, MI	3.0	1.5	940	$1,850	$1.97	45d	1	0.92mi
1532 Euclid St #1 Lincoln Park, MI	2.0	1.0	850	$1,450	$1.71	26d	1	1.02mi
15806 Meyer Ave Allen Park, MI	3.0	2.0	1100	$1,650	$1.50	3d	1	1.06mi
1343 Pagel Ave Unit 2-Upper Lincoln Park, MI	2.0	1.0	1000	$1,250	$1.25	19d	1	1.16mi
9725 Ruth Allen Park, MI	3.0	1.5	1110	$1,800	$1.62	4d	1	1.18mi
1524 Cicotte Ave Lincoln Park, MI	2.0	1.0	900	$1,250	$1.39	16d	1	1.21mi
1774 College Ave Lincoln Park, MI	3.0	1.0	944	$1,525	$1.62	0d	1	1.26mi
9814 Quandt Ave Allen Park, MI	3.0	2.0	1050	$1,800	$1.71	45d	1	1.26mi
1537 Chandler Ave Lincoln Park, MI	2.0	1.0	725	$1,100	$1.52	19d	1	1.34mi
1774 Council Ave Lincoln Park, MI	3.0	1.0	864	$1,500	$1.74	0d	1	1.47mi

Listing history 8 events

1. 2026-06-18
   status $169,000 Pending 8 DOM
2. 2026-06-17
   days on market $169,000 Active 8 DOM
3. 2026-06-16
   days on market $169,000 Active 7 DOM
4. 2026-06-15
   days on market $169,000 Active 6 DOM
5. 2026-06-13
   days on market $169,000 Active 4 DOM
6. 2026-06-13
   days on market $169,000 Active 3 DOM
7. 2026-06-10
   remarks 693-char remark
8. 2026-06-10
   listed $169,000 Active 1 DOM

ⓘ 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: $1,943 · $162/mo
• Projected year-2 tax: $2,273 · $189/mo
• Expected delta: +$330/yr (+$28/mo · 17.0%)

ⓘ 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 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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,874
• − Mortgage interest: −$9,467
• − Property taxes: −$1,943
• − Insurance: −$845
• − Repairs & maintenance: −$1,430
• − Management: −$1,430
• − Depreciation: −$4,916
• Taxable loss: −$2,156
• Est. tax savings @ 24.0%: +$517
• After-tax cash flow: $1,216/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

+275.6% since first listed

9 events — show timeline

• 2026-06-09 Listed $169,000 MiRealSource-MiMLS
• 2026-06-09 Listed $169,000 REALCOMP
• 2012-06-19 Sold (Public Records) $74,000 Public Records
• 2010-10-14 Sold (Public Records) $74,000 Public Records
• 2010-09-16 Sold (MLS) $74,000 REALCOMP
• 2010-07-07 Listed $69,947 REALCOMP
• 2010-05-10 Sold (MLS) $22,000 REALCOMP
• 2010-04-09 Listed $24,900 REALCOMP
• 1993-03-31 Sold (Public Records) $45,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $1,943 · +0.7% YoY. Source: county tax records.