133 Monterey St · Highland Park, MI 48203

$49,900

3 bd · 2.5 ba · 1,766 sqft · SingleFamily public records · 33 Days on market

Built 1914 5,227 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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 in Highland Park with strong upside in a growing community! This 3-bedroom home offers flexible layout potential, including the opportunity to add a main-floor bedroom and create 1.5-2 baths. A 3rd-floor bonus space provides additional room for office, living, or creative use. Property has been substantially cleared and is ready for renovation. New roof installed end of 2025. Vision is up to the builder's eye -- ideal for investors or buyers looking to build equity. Sold AS IS. BATVAI.

Key facts

• 5,227 sq ft lot
• Built 1914
• Listed 33 days

Property features AI

Exterior

• Utilities: Public water
• Home design: Colonial style; Single-family residence; Residential property
• Construction: Built in 1914; Aluminum siding and brick exterior
• Exterior features: 0.12-acre lot; Public water

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Has heating; Other heating type
• Interior features: Fireplace; 3 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $871 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 27.2% 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: 218 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $1,703/mo this rent would consume 53% 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 $345 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 $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 3 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: property tax is 4.6% of price; built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $48,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 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 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 3.41% ✓
• Cap rate: 27.24%
• Cash-on-cash: 74.81%
• DSCR: 4.33
• GRM: 2.4

CMA / ARV

• ARV (on-the-fly): $137,748
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
929 Lawrence St	0.39mi	3/1.5	1,692 (-4%)	9mo	$205,000	$121	63
195 Massachusetts St	0.65mi	4/2.0 (+1)	1,800 (+2%)	3mo	$140,000	$78	57
97 Tennyson St	0.46mi	4/1.5 (+1)	1,700 (-4%)	8mo	$27,000	$16	57
157 Rhode Island St	0.59mi	4/1.0 (+1)	1,818 (+3%)	3mo	$90,000	$50	54
693 Calvert St	0.44mi	4/1.5 (+1)	1,914 (+8%)	4mo	$109,000	$57	53
936 Glynn Ct	0.53mi	4/3.0 (+1)	1,874 (+6%)	10mo	$285,000	$152	50
79 Tennyson St	0.43mi	4/1.5 (+1)	1,951 (+10%)	7mo	$48,500	$25	48
227 Massachusetts St	0.70mi	4/2.0 (+1)	1,664 (-6%)	7mo	$130,000	$78	45
118 Massachusetts St	0.49mi	4/1.5 (+1)	1,971 (+12%)	7mo	$190,000	$96	43
193 Massachusetts St	0.64mi	3/1.5	1,548 (-12%)	4mo	$59,900	$39	42
219 Waverly St	0.60mi	3/1.0	1,557 (-12%)	6mo	$145,000	$93	42
194 Farrand Park	0.73mi	4/2.0 (+1)	1,610 (-9%)	5mo	$189,000	$117	40

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 74.7%
• Equity multiple: 4.40×
• Total profit: $47,494
• Equity at exit: $7,440

10-year hold

• IRR: 78.5%
• Equity multiple: 9.10×
• Total profit: $113,216
• Equity at exit: $4,314

Cash invested: $13,972 (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: 218
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,703 high
• Mortgage (P&I): −$262
• Tax from tax record: −$192 /mo · $2,301/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $871

Break-even live

Break-even rent $600

Max offer price $49,900

Occupancy floor 44%

Sensitivity live

Price	-10% $1,035	-5% $885	+0% $871	+5% $857	+10% $843
Rent	-10% $736	-5% $804	+0% $871	+5% $938	+10% $1,006
Rate	-1.0pp $896	-0.5pp $884	base $871	+0.5pp $858	+1.0pp $845

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
64 Glendale St Highland Park, MI	4.0	1.0	1464	$1,500	$1.02	11d	1	0.41mi
101 Colorado St Unit NA Highland Park, MI	4.0	1.5	1695	$1,780	$1.05	0d	1	0.54mi
165 Rhode Island St Highland Park, MI	4.0	1.5	1639	$1,200	$0.73	18d	1	0.61mi
168 Beresford St Highland Park, MI	4.0	1.0	1541	$1,475	$0.96	18d	1	0.84mi
1929 Calvert Ave Unit 2 Detroit, MI	3.0	1.0	1414	$1,199	$0.85	16d	1	0.90mi
330 Westminster St Unit NA Detroit, MI	3.0	1.0	1995	$1,900	$0.95	44d	1	0.92mi
330 Westminster St Detroit, MI	3.0	1.0	1995	$1,900	$0.95	25d	1	0.92mi
505 Westminster St Detroit, MI	3.0	1.0	1700	$1,400	$0.82	18d	1	0.92mi
9429 Brush St Unit 1B Detroit, MI	2.0	1.0	1500	$1,523	$1.02	44d	1	0.95mi
2045 Calvert St Detroit, MI	2.0	2.0	1400	$1,600	$1.14	44d	1	1.00mi
216 Holbrook St Detroit, MI	4.0	2.0	2000	$2,000	$1.00	23d	1	1.13mi
216 Holbrook Unit Na Detroit, MI	4.0	2.0	2000	$2,200	$1.10	2d	1	1.13mi
2474 Fullerton St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	16d	1	1.20mi
419 King St Detroit, MI	3.0	1.0	1668	$2,300	$1.38	11d	1	1.21mi
2634 Lawrence St Detroit, MI	3.0	1.5	1388	$1,600	$1.15	3d	1	1.34mi
557 Hague St Detroit, MI	2.0	1.0	1250	$1,400	$1.12	44d	1	1.37mi
2655 Collingwood St Detroit, MI	4.0	1.5	1881	$2,700	$1.44	2d	1	1.38mi
2653 Calvert Ave Unit 1 Detroit, MI	3.0	1.0	1305	$1,200	$0.92	44d	1	1.39mi
2254 Taylor St Unit Taylor St unit Detroit, MI	3.0	1.0	1307	$1,550	$1.19	4d	1	1.39mi
1418 W Euclid St Detroit, MI	3.0	1.0	2264	$1,200	$0.53	44d	1	1.41mi
8410 Brush St Detroit, MI	3.0	2.5	1300	$2,200	$1.69	2d	1	1.42mi
2080 Gladstone St #1 Detroit, MI	4.0	2.0	2426	$3,000	$1.24	2d	1	1.43mi
528 E Philadelphia St Detroit, MI	3.0	1.0	1625	$2,400	$1.48	2d	1	1.44mi
1441 W Euclid St Detroit, MI	3.0	1.0	2380	$2,600	$1.09	25d	1	1.44mi
2727 Calvert Ave Unit 1 Detroit, MI	3.0	1.5	1350	$1,200	$0.89	44d	1	1.45mi
2302 Hazelwood St Unit 1 Detroit, MI	3.0	1.0	1550	$1,273	$0.82	25d	1	1.47mi
8951 La Salle Blvd Detroit, MI	4.0	2.5	2440	$2,500	$1.02	2d	1	1.49mi
8951 La Salle Blvd Unit NA Detroit, MI	4.0	2.5	2440	$2,500	$1.02	11d	1	1.49mi

Listing history 19 events

1. 2026-06-21
   days on market $49,900 Active 33 DOM
2. 2026-06-18
   days on market $49,900 Active 30 DOM
3. 2026-06-17
   days on market $49,900 Active 29 DOM
4. 2026-06-16
   days on market $49,900 Active 28 DOM
5. 2026-06-15
   days on market $49,900 Active 27 DOM
6. 2026-06-13
   days on market $49,900 Active 25 DOM
7. 2026-06-09
   days on market $49,900 Active 21 DOM
8. 2026-06-08
   days on market $49,900 Active 20 DOM
9. 2026-06-07
   days on market $49,900 Active 19 DOM
10. 2026-06-04
    days on market $49,900 Active 16 DOM
11. 2026-06-03
    days on market $49,900 Active 15 DOM
12. 2026-06-02
    days on market $49,900 Active 14 DOM
13. 2026-06-01
    days on market $49,900 Active 13 DOM
14. 2026-05-31
    days on market $49,900 Active 12 DOM
15. 2026-05-19
    listed $49,900 Active 507-char remark

    Show marketing remark (507 chars)

    INVESTOR SPECIAL in Highland Park with strong upside in a growing community! This 3-bedroom home offers flexible layout potential, including the opportunity to add a main-floor bedroom and create 1.5-2 baths. A 3rd-floor bonus space provides additional room for office, living, or creative use. Property has been substantially cleared and is ready for renovation. New roof installed end of 2025. Vision is up to the builder's eye -- ideal for investors or buyers looking to build equity. Sold AS IS. BATVAI.

16. 2026-05-19
    listed $49,900 Active

    Show marketing remark (507 chars)

    INVESTOR SPECIAL in Highland Park with strong upside in a growing community! This 3-bedroom home offers flexible layout potential, including the opportunity to add a main-floor bedroom and create 1.5-2 baths. A 3rd-floor bonus space provides additional room for office, living, or creative use. Property has been substantially cleared and is ready for renovation. New roof installed end of 2025. Vision is up to the builder's eye -- ideal for investors or buyers looking to build equity. Sold AS IS. BATVAI.

17. 2026-05-19
    listed $49,900 Active 507-char remark

    Show marketing remark (507 chars)

    INVESTOR SPECIAL in Highland Park with strong upside in a growing community! This 3-bedroom home offers flexible layout potential, including the opportunity to add a main-floor bedroom and create 1.5-2 baths. A 3rd-floor bonus space provides additional room for office, living, or creative use. Property has been substantially cleared and is ready for renovation. New roof installed end of 2025. Vision is up to the builder's eye -- ideal for investors or buyers looking to build equity. Sold AS IS. BATVAI.

18. 2026-05-18
    historical $49,900 507-char remark

    Show marketing remark (507 chars)

    INVESTOR SPECIAL in Highland Park with strong upside in a growing community! This 3-bedroom home offers flexible layout potential, including the opportunity to add a main-floor bedroom and create 1.5-2 baths. A 3rd-floor bonus space provides additional room for office, living, or creative use. Property has been substantially cleared and is ready for renovation. New roof installed end of 2025. Vision is up to the builder's eye -- ideal for investors or buyers looking to build equity. Sold AS IS. BATVAI.

19. 2026-05-18
    historical $49,900

    Show marketing remark (507 chars)

    INVESTOR SPECIAL in Highland Park with strong upside in a growing community! This 3-bedroom home offers flexible layout potential, including the opportunity to add a main-floor bedroom and create 1.5-2 baths. A 3rd-floor bonus space provides additional room for office, living, or creative use. Property has been substantially cleared and is ready for renovation. New roof installed end of 2025. Vision is up to the builder's eye -- ideal for investors or buyers looking to build equity. Sold AS IS. BATVAI.

ⓘ 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: $2,301 · $192/mo
• Projected year-2 tax: $2,301 · $192/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 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: $20,433
• − Mortgage interest: −$2,795
• − Property taxes: −$2,301
• − Insurance: −$250
• − Repairs & maintenance: −$1,635
• − Management: −$1,635
• − Depreciation: −$1,452
• Taxable income: $10,367
• Est. tax owed @ 24.0%: −$2,488
• After-tax cash flow: $7,964/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

+0.0% since first listed

5 events — show timeline

• 2026-05-19 Listed $49,900 REALCOMP
• 2026-05-19 Listed $49,900 SW Michigan MLS
• 2026-05-19 Listed $49,900 MiRealSource-MiMLS
• 2026-05-18 Coming Soon $49,900 MiRealSource-MiMLS
• 2026-05-18 Coming Soon $49,900 SW Michigan MLS

Property tax history

+4.3%/yr

Latest (2025): $2,301 · +160.0% YoY. Source: county tax records.