6907 Harvard Lane Ln · Canton, MI 48187

$182,000

3 bd · 1.5 ba · 1,200 sqft · Condo public records · 75 Days on market

Built 1972 $152/sqft · 16% above area Est $236k · 23% under $270/mo HOA · 13% of rent

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Why this score? — see what drove the C+ 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 +20.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.6/10.0
• 1% rule +6.4/10.0
• Schools +5.6/10.0
• Rent growth +2.9/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Top-Rated Canton–Plymouth Schools! Presented by Realtors of Michigan! A beautiful 3-bedroom, 2-bath home with a partially finished basement located in one of Canton's most desirable neighborhoods! This property is clean, well-maintained, and move-in ready - perfect for a first-time homeowner, growing family, or investor looking for a high-demand rental. Close proximity to shopping, dining, parks, and freeways for easy commuting. The home features an open and bright layout, spacious bedrooms, updated baths, and a comfortable basement offering additional space. Whether you're looking to live in a great area or rent out a turn-key property. Don't miss this opportunity! Homes in this area sell quickly - schedule your private showing today!

Key facts

• Finished basement
• $270 HOA
• Built 1972

Tags

• FINISHED BASEMENT
• CLOSE PROXIMITY TO SHOPPING
• CLOSE PROXIMITY TO DINING
• CLOSE PROXIMITY TO PARKS
• CLOSE PROXIMITY TO FREEWAYS
• OPEN AND BRIGHT LAYOUT

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $182k.

Deal economics

• At list price, monthly cash flow is $246 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $182k).
• Recommended offer: $171k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Plymouth-Canton Community Schools (suburban): math 58% / reading 66% proficiency, ranked #27 of 540 in MI (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+1.6%/yr); 180 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 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 $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

• It's been on market 75 days — a 6% lower offer ($171k) 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.
• Current owner paid $66k; list at $182k implies a 176% gain — meaningful room to come down on a strong offer.

Recommended offer $171,080 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.14% ✓
• Cap rate: 7.91%
• Cash-on-cash: 5.79%
• DSCR: 1.26
• GRM: 7.3

CMA / ARV

• ARV (median comp): $236,015
• List price: $182,000
• Delta: -22.89%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.58% rent growth · sell at horizon

5-year hold

• IRR: -9.0%
• Equity multiple: 0.67×
• Total profit: $-16,639
• Equity at exit: $27,137

10-year hold

• IRR: -1.7%
• Equity multiple: 0.89×
• Total profit: $-5,510
• Equity at exit: $15,736

Cash invested: $50,960 (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 48187

• Rents YoY: 1.6%
• Active inventory: 180
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,073 high
• Mortgage (P&I): −$954
• Tax from tax record: −$92 /mo · $1,102/yr
• Insurance: −$76
• HOA: −$270
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $246

Break-even live

Break-even rent $1,762

Max offer price $182,000

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: $45,500
• Closing costs: $5,460
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6900 Foxthorn Canton, MI	2.0	1.0	922	$1,488	$1.61	2d	10	0.95mi
44567 Savery Dr Canton, MI	3.0	1.5	1218	$2,250	$1.85	44d	1	0.96mi
44435 Savery Dr Canton, MI	2.0	1.0	995	$1,500	$1.51	15d	1	0.97mi
5600 Fordham Cir Canton, MI	1.0–3.0	1.0–2.5	868	$2,415	$2.78	2d	12	1.01mi
7655 Balmoral Dr Canton, MI	1.0–2.0	1.0–2.0	895	$1,750	$1.96	2d	5	1.13mi
7620 N Lilley Rd Canton, MI	2.0	2.5	1300	$2,376	$1.83	2d	1	1.18mi

HOA detail condo

• Monthly dues: $270 · $3,240/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-18
   days on market $182,000 Active 75 DOM
2. 2026-06-17
   days on market $182,000 Active 74 DOM
3. 2026-06-16
   days on market $182,000 Active 73 DOM
4. 2026-06-15
   days on market $182,000 Active 72 DOM
5. 2026-06-13
   days on market $182,000 Active 70 DOM
6. 2026-06-09
   days on market $182,000 Active 66 DOM
7. 2026-06-08
   days on market $182,000 Active 65 DOM
8. 2026-06-07
   days on market $182,000 Active 64 DOM
9. 2026-06-04
   pricedays on market $182,000 Active 61 DOM
10. 2026-06-03
    days on market $187,000 Active 60 DOM
11. 2026-06-02
    days on market $187,000 Active 59 DOM
12. 2026-06-01
    days on market $187,000 Active 58 DOM
13. 2026-05-31
    days on market $187,000 Active 57 DOM
14. 2026-04-29
    price $187,000 768-char remark

    Show marketing remark (781 chars)

    Top-Rated Canton–Plymouth Schools! Presented by Realtors of Michigan! A beautiful 3-bedroom, 2-bath home with a partially finished basement located in one of Canton’s most desirable neighborhoods! This property is clean, well-maintained, and move-in ready — perfect for a first-time homeowner, growing family, or investor looking for a high-demand rental. Close proximity to shopping, dining, parks, and freeways for easy commuting. The home features an open and bright layout, spacious bedrooms, updated baths, and a comfortable basement offering additional space. Whether you’re looking to live in a great area or rent out a turn-key property. Don’t miss this opportunity! Homes in this area sell quickly — schedule your private showing today!

15. 2026-04-29
    price $187,000 781-char remark

    Show marketing remark (781 chars)

    Top-Rated Canton–Plymouth Schools! Presented by Realtors of Michigan! A beautiful 3-bedroom, 2-bath home with a partially finished basement located in one of Canton’s most desirable neighborhoods! This property is clean, well-maintained, and move-in ready — perfect for a first-time homeowner, growing family, or investor looking for a high-demand rental. Close proximity to shopping, dining, parks, and freeways for easy commuting. The home features an open and bright layout, spacious bedrooms, updated baths, and a comfortable basement offering additional space. Whether you’re looking to live in a great area or rent out a turn-key property. Don’t miss this opportunity! Homes in this area sell quickly — schedule your private showing today!

16. 2026-04-13
    price $185,000 768-char remark

    Show marketing remark (781 chars)

    Top-Rated Canton–Plymouth Schools! Presented by Realtors of Michigan! A beautiful 3-bedroom, 2-bath home with a partially finished basement located in one of Canton’s most desirable neighborhoods! This property is clean, well-maintained, and move-in ready — perfect for a first-time homeowner, growing family, or investor looking for a high-demand rental. Close proximity to shopping, dining, parks, and freeways for easy commuting. The home features an open and bright layout, spacious bedrooms, updated baths, and a comfortable basement offering additional space. Whether you’re looking to live in a great area or rent out a turn-key property. Don’t miss this opportunity! Homes in this area sell quickly — schedule your private showing today!

17. 2026-04-13
    price $185,000 781-char remark

    Show marketing remark (781 chars)

    Top-Rated Canton–Plymouth Schools! Presented by Realtors of Michigan! A beautiful 3-bedroom, 2-bath home with a partially finished basement located in one of Canton’s most desirable neighborhoods! This property is clean, well-maintained, and move-in ready — perfect for a first-time homeowner, growing family, or investor looking for a high-demand rental. Close proximity to shopping, dining, parks, and freeways for easy commuting. The home features an open and bright layout, spacious bedrooms, updated baths, and a comfortable basement offering additional space. Whether you’re looking to live in a great area or rent out a turn-key property. Don’t miss this opportunity! Homes in this area sell quickly — schedule your private showing today!

18. 2026-04-05
    listed $180,000 Active 781-char remark

    Show marketing remark (781 chars)

    Top-Rated Canton–Plymouth Schools! Presented by Realtors of Michigan! A beautiful 3-bedroom, 2-bath home with a partially finished basement located in one of Canton’s most desirable neighborhoods! This property is clean, well-maintained, and move-in ready — perfect for a first-time homeowner, growing family, or investor looking for a high-demand rental. Close proximity to shopping, dining, parks, and freeways for easy commuting. The home features an open and bright layout, spacious bedrooms, updated baths, and a comfortable basement offering additional space. Whether you’re looking to live in a great area or rent out a turn-key property. Don’t miss this opportunity! Homes in this area sell quickly — schedule your private showing today!

19. 2026-04-04
    listed $180,000 Active 768-char remark

    Show marketing remark (768 chars)

    Top-Rated Canton–Plymouth Schools! Presented by Realtors of Michigan! A beautiful 3-bedroom, 2-bath home with a partially finished basement located in one of Canton's most desirable neighborhoods! This property is clean, well-maintained, and move-in ready - perfect for a first-time homeowner, growing family, or investor looking for a high-demand rental. Close proximity to shopping, dining, parks, and freeways for easy commuting. The home features an open and bright layout, spacious bedrooms, updated baths, and a comfortable basement offering additional space. Whether you're looking to live in a great area or rent out a turn-key property. Don't miss this opportunity! Homes in this area sell quickly - schedule your private showing today!

20. 2026-01-01
    historical
21. 2026-01-01
    historical
22. 2025-12-24
    price $194,000
23. 2025-12-24
    price $194,000
24. 2025-10-27
    listed $192,000 Active
25. 2025-10-26
    listed $192,000 Active
26. 1999-04-30
    soldstatus $66,000

ⓘ 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: $1,102 · $92/mo
• Projected year-2 tax: $1,952 · $163/mo
• Expected delta: +$851/yr (+$71/mo · 77.2%)

ⓘ 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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,880
• − Mortgage interest: −$10,195
• − Property taxes: −$1,102
• − Insurance: −$910
• − Repairs & maintenance: −$1,990
• − Management: −$1,990
• − HOA: −$3,240
• − Depreciation: −$5,295
• Taxable income: $158
• Est. tax owed @ 24.0%: −$38
• After-tax cash flow: $2,913/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: Plymouth-Canton Community Schools
• NCES district ID: 2628560
• Math proficiency: 58% ▼ -5.00%
• Reading proficiency: 66% ▼ -1.00%
• Median HH income: $82,996
• Composite: 55.86/100
• National rank: #1204
• State rank: #27 of 540 in MI

Livability — Canton

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Wayne County · 1,562,939 people
• City population: 99,041
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 53,376
• Household income: $120,321
• Rent vs Own: 28.6% rent · 71.4% own
• Severe rent burden: 1006.0

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: Majority White (65%)
• Race & ethnicity: White 65% Asian 17% Black 9% Two or more races 7% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Romanian 11% Italian 3% Slovak 2%
• Foreign-born: 18% · Canada, China, Vietnam
• Languages at home: 79% English-only · Other Indo-European 9% Other Asian/Pacific 3% Arabic 3%

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: ▼ -299.97%
• Current HPI: 198.75
• Rent YoY: ▲ 1.58%
• 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

+183.3% since first listed

13 events — show timeline

• 2026-04-29 Price Changed $187,000 MiRealSource-MiMLS
• 2026-04-29 Price Changed $187,000 REALCOMP
• 2026-04-13 Price Changed $185,000 MiRealSource-MiMLS
• 2026-04-13 Price Changed $185,000 REALCOMP
• 2026-04-05 Listed $180,000 REALCOMP
• 2026-04-04 Listed $180,000 MiRealSource-MiMLS
• 2026-01-01 Listing Removed — REALCOMP
• 2026-01-01 Listing Removed — MiRealSource-MiMLS
• 2025-12-24 Price Changed $194,000 MiRealSource-MiMLS
• 2025-12-24 Price Changed $194,000 REALCOMP
• 2025-10-27 Listed $192,000 REALCOMP
• 2025-10-26 Listed $192,000 MiRealSource-MiMLS
• 1999-04-30 Sold (Public Records) $66,000 Public Records

Property tax history

-2.2%/yr

Latest (2025): $1,102 · -42.7% YoY. Source: county tax records.