20202 Lancaster St · Harper Woods, MI 48225

$174,900

4 bd · 2.0 ba · 1,166 sqft · SingleFamily public records · 8 Days on market

Built 1950 8,712 sqft lot Est $162k · 8% over

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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 +19.2/30.0
• DSCR +6.1/10.0
• Schools +5.7/10.0
• 1% rule +4.1/10.0
• ARV discount +3.9/15.0
• Rent growth +3.8/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Wow! Completely remodeled 4 bedroom 2 full bath brick home with finished basement. Beautiful open lay out with updated kitchen and bathrooms. Brand new front porch. Private fully fenced backyard. Hurry Priced below market! Move in ready.

Key facts

• Finished basement
• Updated kitchen
• 8,712 sq ft lot

Tags

• FINISHED BASEMENT
• UPDATED KITCHEN
• PRIVATE FULLY FENCED BACKYARD
• BRAND NEW FRONT PORCH

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half story; Ground-level entry
• Construction: Brick and vinyl siding exterior; Block foundation; Above-grade finished area and additional finished lower level
• Exterior features: Paved road access; Lot approximately 0.2 acres (67.5 x 127.2)

Interior

• Kitchen: Dishwasher; Free-standing refrigerator; Gas cooktop
• Bedrooms: Total of 5 rooms (bedroom breakdown not specified)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Finished walk-out daylight basement with sump pump

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $188 ($2k/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 $159k (9.2% below list).
• Recommended offer: $159k (9.2% below list) — sets the bar for 1% rule.

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-.
• Grosse Pointe Public Schools (suburban): math 56% / reading 68% proficiency, ranked #24 of 540 in MI (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 13% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+5.1%/yr); 133 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 31% of the median local income ($62k/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.
• 17 sale attempts since 31y 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 $120k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $158,812 (9.2% 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: 0.91% ✗
• Cap rate: 7.58%
• Cash-on-cash: 4.61%
• DSCR: 1.21
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $162,074
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20260 Lancaster St	0.05mi	4/2.0	1,272 (+9%)	1mo	$112,700	$89	82
20703 Fleetwood Dr	0.37mi	3/1.0 (-1)	1,200 (+3%)	7mo	$180,000	$150	64
20402 Kenmore Ave	0.25mi	3/1.5 (-1)	1,055 (-10%)	3mo	$110,000	$104	63
20456 Lennon St	0.25mi	3/1.5 (-1)	1,260 (+8%)	6mo	$175,000	$139	62
20602 Kenmore Ave	0.35mi	3/2.0 (-1)	1,055 (-10%)	3mo	$163,850	$155	60
20860 Ridgemont Rd	0.73mi	4/2.5	1,180 (+1%)	4mo	$40,000	$34	58
20640 Fleetwood Dr	0.30mi	3/1.0 (-1)	1,300 (+12%)	1mo	$125,000	$96	57
20631 Lochmoor St	0.30mi	3/2.5 (-1)	1,311 (+12%)	2mo	$219,000	$167	57
20688 Fleetwood Dr	0.35mi	3/1.0 (-1)	1,053 (-10%)	3mo	$173,000	$164	56
20672 Fleetwood Dr	0.33mi	3/1.0 (-1)	1,031 (-12%)	6mo	$115,000	$112	51
20886 Hunt Club Dr	0.53mi	3/1.5 (-1)	1,044 (-10%)	7mo	$213,300	$204	45
20842 Ridgemont Rd	0.73mi	3/1.0 (-1)	1,001 (-14%)	3mo	$85,000	$85	31

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: -7.0%
• Equity multiple: 0.73×
• Total profit: $-13,000
• Equity at exit: $26,078

10-year hold

• IRR: 4.8%
• Equity multiple: 1.38×
• Total profit: $18,522
• Equity at exit: $15,122

Cash invested: $48,972 (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 48225

• Rents YoY: 5.1%
• Active inventory: 133
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,588 high
• Mortgage (P&I): −$917
• Tax from tax record: −$76 /mo · $918/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $188

Break-even live

Break-even rent $1,350

Max offer price $174,900

Occupancy floor 83%

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20015 Lochmoor St Harper Woods, MI	3.0	1.0	1006	$1,500	$1.49	16d	1	0.09mi
20270 Hollywood St Harper Woods, MI	3.0	1.0	1228	$1,650	$1.34	1d	1	0.52mi
1992 Hawthorne Rd Grosse Pointe Woods, MI	3.0	2.0	1071	$2,100	$1.96	10d	1	0.93mi
19152 Woodside St Harper Woods, MI	3.0	1.0	916	$1,500	$1.64	17d	1	0.95mi
19661 Kenosha St Harper Woods, MI	3.0	2.0	1000	$1,400	$1.40	24d	1	0.96mi
20461 Kingsville St Harper Woods, MI	4.0	1.0	1100	$1,399	$1.27	15d	1	1.09mi
19365 Kingsville St Harper Woods, MI	4.0	1.5	996	$1,650	$1.66	15d	1	1.11mi
19442 Kingsville St Harper Woods, MI	3.0	1.0	1000	$1,500	$1.50	17d	1	1.12mi
19982 McCormick St Detroit, MI	3.0	1.0	866	$1,200	$1.39	3d	1	1.13mi
19435 McCormick St Detroit, MI	3.0	2.0	1148	$1,300	$1.13	17d	1	1.14mi
10985 Peerless St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	5d	1	1.30mi
16410 Edmore Dr Detroit, MI	3.0	1.0	850	$1,250	$1.47	15d	1	1.31mi
10870 Marne St Detroit, MI	3.0	1.0	1156	$1,100	$0.95	17d	1	1.32mi
16291 Eastburn St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	24d	1	1.33mi
20926 Moross Rd Grosse Pointe, MI	3.0	1.0	1200	$1,350	$1.12	43d	1	1.34mi
16225 Manning St Detroit, MI	4.0	2.0	1036	$1,475	$1.42	43d	1	1.38mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	15d	1	1.38mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	43d	1	1.38mi
16242 Bringard Dr Detroit, MI	3.0	1.0	1350	$1,300	$0.96	5d	1	1.38mi
18530 Kingsville St Harper Woods, MI	3.0	1.5	1396	$1,375	$0.98	17d	1	1.39mi
10542 Lanark St Detroit, MI	3.0	1.0	1023	$1,250	$1.22	43d	1	1.46mi
19168 Berden St Grosse Pointe, MI	3.0	1.0	1200	$1,800	$1.50	1d	1	1.47mi

Listing history 45 events

1. 2026-05-12
   status Pending 237-char remark

   Show marketing remark (237 chars)

   Wow! Completely remodeled 4 bedroom 2 full bath brick home with finished basement. Beautiful open lay out with updated kitchen and bathrooms. Brand new front porch. Private fully fenced backyard. Hurry Priced below market! Move in ready.

2. 2026-05-12
   status Pending

   Show marketing remark (237 chars)

   Wow! Completely remodeled 4 bedroom 2 full bath brick home with finished basement. Beautiful open lay out with updated kitchen and bathrooms. Brand new front porch. Private fully fenced backyard. Hurry Priced below market! Move in ready.

3. 2026-05-06
   historical Accepting Backup Offers 237-char remark

   Show marketing remark (237 chars)

   Wow! Completely remodeled 4 bedroom 2 full bath brick home with finished basement. Beautiful open lay out with updated kitchen and bathrooms. Brand new front porch. Private fully fenced backyard. Hurry Priced below market! Move in ready.

4. 2026-05-06
   historical Active Under Contract

   Show marketing remark (237 chars)

   Wow! Completely remodeled 4 bedroom 2 full bath brick home with finished basement. Beautiful open lay out with updated kitchen and bathrooms. Brand new front porch. Private fully fenced backyard. Hurry Priced below market! Move in ready.

5. 2026-05-04
   listed $174,900 Active

   Show marketing remark (237 chars)

   Wow! Completely remodeled 4 bedroom 2 full bath brick home with finished basement. Beautiful open lay out with updated kitchen and bathrooms. Brand new front porch. Private fully fenced backyard. Hurry Priced below market! Move in ready.

6. 2026-05-04
   listed $174,900 Active 237-char remark

   Show marketing remark (237 chars)

   Wow! Completely remodeled 4 bedroom 2 full bath brick home with finished basement. Beautiful open lay out with updated kitchen and bathrooms. Brand new front porch. Private fully fenced backyard. Hurry Priced below market! Move in ready.

7. 2017-09-11
   historical
8. 2017-09-11
   historical
9. 2017-09-10
   status Active
10. 2017-08-30
    status Pending
11. 2017-08-14
    historical
12. 2017-08-14
    status Active
13. 2017-06-06
    status Pending
14. 2017-05-31
    status Active
15. 2017-03-22
    status Pending
16. 2017-03-22
    status Pending
17. 2017-03-22
    price $82,000
18. 2017-03-22
    price $82,000
19. 2017-03-22
    historical
20. 2017-03-22
    historical
21. 2017-02-08
    status Active
22. 2017-01-20
    status Pending
23. 2017-01-10
    listed $80,000 Active
24. 2017-01-10
    listed $80,000 Active
25. 2017-01-10
    listed $82,000
26. 2017-01-10
    listed $82,000
27. 2014-12-11
    historical
28. 2014-12-10
    historical
29. 2014-07-11
    listed $69,900 Active
30. 2014-07-11
    listed $69,900
31. 2006-03-28
    soldstatus $120,000
32. 2006-02-28
    soldstatus $120,000
33. 2006-02-28
    soldstatus $120,000
34. 2006-02-18
    historical
35. 2006-01-06
    historical
36. 2006-01-06
    listed $125,876
37. 2006-01-06
    listed $125,876
38. 2006-01-06
    historical
39. 2005-07-11
    listed $134,700
40. 2005-07-11
    listed $134,700
41. 1999-08-11
    soldstatus $127,000
42. 1995-05-30
    soldstatus $75,000
43. 1995-05-15
    soldstatus $75,000
44. 1995-02-01
    historical
45. 1995-01-31
    listed $72,800

ⓘ 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: $918 · $76/mo
• Projected year-2 tax: $1,806 · $150/mo
• Expected delta: +$888/yr (+$74/mo · 96.8%)

ⓘ 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,057
• − Mortgage interest: −$9,797
• − Property taxes: −$918
• − Insurance: −$874
• − Repairs & maintenance: −$1,525
• − Management: −$1,525
• − Depreciation: −$5,088
• Taxable loss: −$669
• Est. tax savings @ 24.0%: +$161
• After-tax cash flow: $2,418/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: Grosse Pointe Public Schools
• NCES district ID: 2625740
• Math proficiency: 56% ▼ -2.00%
• Reading proficiency: 68% ▲ 2.00%
• Median HH income: $89,975
• Composite: 56.51/100
• National rank: #1152
• State rank: #24 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

+140.2% since first listed

45 events — show timeline

• 2026-05-12 Pending — MiRealSource-MiMLS
• 2026-05-12 Pending — REALCOMP
• 2026-05-06 Contingent — MiRealSource-MiMLS
• 2026-05-06 Contingent — REALCOMP
• 2026-05-04 Listed $174,900 REALCOMP
• 2026-05-04 Listed $174,900 MiRealSource-MiMLS
• 2017-09-11 Listing Removed — REALCOMP
• 2017-09-11 Listing Removed — MiRealSource-MiMLS
• 2017-09-10 Relisted — MiRealSource-MiMLS
• 2017-08-30 Pending — MiRealSource-MiMLS
• 2017-08-14 Listing Removed — REALCOMP
• 2017-08-14 Relisted — MiRealSource-MiMLS
• 2017-06-06 Pending — MiRealSource-MiMLS
• 2017-05-31 Relisted — MiRealSource-MiMLS
• 2017-03-22 Pending — MiRealSource-MiMLS
• 2017-03-22 Pending — REALCOMP
• 2017-03-22 Listing Removed — MiRealSource-MiMLS
• 2017-03-22 Listing Removed — MiRealSource-MiMLS
• 2017-03-22 Price Changed $82,000 MiRealSource-MiMLS
• 2017-03-22 Price Changed $82,000 REALCOMP
• 2017-02-08 Relisted — REALCOMP
• 2017-01-20 Pending — REALCOMP
• 2017-01-10 Listed $80,000 REALCOMP
• 2017-01-10 Listed $80,000 MiRealSource-MiMLS
• 2017-01-10 Listed $82,000 MiRealSource-MiMLS
• 2017-01-10 Listed $82,000 REALCOMP
• 2014-12-11 Listing Removed — REALCOMP
• 2014-12-10 Listing Removed — MiRealSource-MiMLS
• 2014-07-11 Listed $69,900 MiRealSource-MiMLS
• 2014-07-11 Listed $69,900 REALCOMP
• 2006-03-28 Sold (Public Records) $120,000 Public Records
• 2006-02-28 Sold (MLS) $120,000 REALCOMP
• 2006-02-28 Sold (MLS) $120,000 MiRealSource-MiMLS
• 2006-02-18 Listing Removed — MiRealSource-MiMLS
• 2006-01-06 Listing Removed — REALCOMP
• 2006-01-06 Listed $125,876 REALCOMP
• 2006-01-06 Listed $125,876 MiRealSource-MiMLS
• 2006-01-06 Listing Removed — MiRealSource-MiMLS
• 2005-07-11 Listed $134,700 REALCOMP
• 2005-07-11 Listed $134,700 MiRealSource-MiMLS
• 1999-08-11 Sold (Public Records) $127,000 Public Records
• 1995-05-30 Sold (Public Records) $75,000 Public Records
• 1995-05-15 Sold (MLS) $75,000 MiRealSource-MiMLS
• 1995-02-01 Listing Removed — MiRealSource-MiMLS
• 1995-01-31 Listed $72,800 MiRealSource-MiMLS

Property tax history

-7.8%/yr

Latest (2025): $918 · -75.9% YoY. Source: county tax records.