202 Connecticut St · Highland Park, MI 48203

$155,000

4 bd · 1.5 ba · 1,304 sqft · SingleFamily public records · 38 Days on market

Built 1915 6,098 sqft lot $119/sqft · 26% above area Est $123k · 26% over

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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 +25.8/30.0
• DSCR +8.6/10.0
• 1% rule +5.6/10.0
• Schools +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to your new home! Four Bedroom Colonial with all hardwood floors! The Attic space can be a 5th bedroom(17 x9) just needs to be drywalled. The lot size is huge, much opportunity back there. Has a trampoline, above ground pool, back deck porch, still with plenty of space for games, cook outs, and more family fun. Spacious Foyer with Living Room & Dining room. Newer updates in the bathroom. Water heater is new, home has been very well maintained by the owner. Near major freeways, shopping, and restaurants. Less than 10 minutes from Downtown Detroit. This home would be great home for a good sized family, first-time home buyer, or an investor looking for strong rental income.

Key facts

• Huge lot size
• Above ground pool
• New water heater

Tags

• HARDWOOD FLOORS
• HUGE LOT SIZE
• ABOVE GROUND POOL
• BACK DECK PORCH
• NEW WATER HEATER

Property features AI

Finance

• Other: Pets allowed

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer; Circuit breaker electric; Cable available
• Home design: Single family residence; Two levels; Ground-level entry with steps; Stone and vinyl siding exterior; Facing direction not specified
• Construction: Asphalt roof; Block foundation; Built with stone and vinyl siding
• Exterior features: Deck; Porch; Back yard fence; Above‑ground pool; Paved road

Interior

• Kitchen: Gas oven; Refrigerator; Microwave
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Hot water heating; Natural gas heating; Radiant heating; No central air
• Interior features: Gas water heater; Free‑standing gas oven; Free‑standing refrigerator; Microwave; Living room fireplace; Full unfinished basement
• Laundry & utility: Washer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $376 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $150k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 14.2% in Highland Park — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 216 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 $1,647/mo this rent would consume 51% 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 $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 38 days — a 3% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 2 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: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $150,350 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 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 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.06% ✓
• Cap rate: 9.20%
• Cash-on-cash: 10.39%
• DSCR: 1.46
• GRM: 7.8

CMA / ARV

• ARV (median comp): $123,233
• List price: $155,000
• Delta: 25.78%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
600 Harmon St	0.32mi	4/1.0	1,375 (+5%)	6mo	$57,000	$41	68
535 Woodland St	0.11mi	3/2.0 (-1)	1,472 (+13%)	2mo	$170,000	$115	65
207 Connecticut St	0.03mi	3/1.0 (-1)	1,472 (+13%)	9mo	$35,000	$24	62
137 Rhode Island St	0.27mi	3/2.0 (-1)	1,405 (+8%)	12mo	$47,000	$33	58
254 Colorado St	0.30mi	3/1.0 (-1)	1,149 (-12%)	10mo	$125,000	$109	51
225 Farrand Park	0.46mi	3/1.0 (-1)	1,458 (+12%)	2mo	$20,000	$14	50
11609 Saint Aubin St	0.73mi	3/1.0 (-1)	1,249 (-4%)	6mo	$200,000	$160	47
202 Farrand Park	0.43mi	3/1.0 (-1)	1,482 (+14%)	4mo	$40,000	$27	46
11680 Nagel St	0.70mi	3/2.0 (-1)	1,300 (-0%)	16mo	$152,500	$117	46
250 Beresford St	0.62mi	3/1.5 (-1)	1,144 (-12%)	16mo	$35,000	$31	32
64 Glendale St	0.66mi	4/1.0	1,464 (+12%)	22mo	$37,000	$25	28

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: -0.8%
• Equity multiple: 0.97×
• Total profit: $-1,249
• Equity at exit: $23,111

10-year hold

• IRR: 8.9%
• Equity multiple: 1.68×
• Total profit: $29,467
• Equity at exit: $13,402

Cash invested: $43,400 (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: 216
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,647 high
• Mortgage (P&I): −$813
• Tax from tax record: −$48 /mo · $576/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $376

Break-even live

Break-even rent $1,171

Max offer price $155,000

Occupancy floor 72%

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
520 Englewood St Detroit, MI	4.0	1.5	1086	$1,725	$1.59	24d	1	0.22mi
165 Rhode Island St Highland Park, MI	4.0	1.5	1639	$1,200	$0.73	17d	1	0.23mi
101 Colorado St Unit NA Highland Park, MI	4.0	1.5	1695	$1,500	$0.88	24d	1	0.34mi
613 Belmont St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	18d	1	0.45mi
41 Richton St Highland Park, MI	5.0	2.0	1871	$1,800	$0.96	2d	1	0.48mi
41 Richton St Highland Park, MI	5.0	2.0	1871	$1,800	$0.96	15d	1	0.48mi
168 Beresford St Highland Park, MI	4.0	1.0	1541	$1,475	$0.96	17d	1	0.61mi
64 Glendale St Highland Park, MI	4.0	1.0	1464	$1,500	$1.02	10d	1	0.64mi
505 Westminster St Detroit, MI	3.0	1.0	1700	$1,400	$0.82	17d	1	0.70mi
156 Leicester Ct Apt 2 Detroit, MI	3.0	1.0	1000	$1,250	$1.25	44d	1	0.89mi
419 King St Detroit, MI	3.0	1.0	1668	$2,300	$1.38	10d	1	1.08mi
1427 Calvert Ave Detroit, MI	3.0	1.0	1100	$1,850	$1.68	24d	1	1.17mi
1427 Calvert Ave Detroit, MI	3.0	1.0	1100	$1,750	$1.59	44d	1	1.17mi
528 E Philadelphia St Detroit, MI	3.0	1.0	1625	$2,400	$1.48	2d	1	1.29mi
9844 Woodrow Wilson St Detroit, MI	3.0	1.0	1187	$1,300	$1.10	12d	1	1.31mi
8416 Brush St Detroit, MI	3.0	1.5	1200	$2,200	$1.83	2d	1	1.32mi
8410 Brush St Detroit, MI	3.0	2.5	1300	$2,200	$1.69	2d	1	1.33mi
68 E Philadelphia St Detroit, MI	3.0	2.0	1000	$1,750	$1.75	44d	1	1.33mi
1929 Calvert Ave Unit 2 Detroit, MI	3.0	1.0	1414	$1,199	$0.85	15d	1	1.48mi

Listing history 15 events

1. 2026-06-18
   days on market $155,000 Active 38 DOM
2. 2026-06-17
   days on market $155,000 Active 37 DOM
3. 2026-06-16
   days on market $155,000 Active 36 DOM
4. 2026-06-15
   days on market $155,000 Active 35 DOM
5. 2026-06-13
   days on market $155,000 Active 33 DOM
6. 2026-06-09
   days on market $155,000 Active 29 DOM
7. 2026-06-08
   days on market $155,000 Active 28 DOM
8. 2026-06-07
   days on market $155,000 Active 27 DOM
9. 2026-06-04
   days on market $155,000 Active 24 DOM
10. 2026-06-03
    days on market $155,000 Active 23 DOM
11. 2026-06-02
    days on market $155,000 Active 22 DOM
12. 2026-06-01
    days on market $155,000 Active 21 DOM
13. 2026-05-31
    days on market $155,000 Active 20 DOM
14. 2026-05-11
    listed $155,000 Active 694-char remark

    Show marketing remark (693 chars)

    Welcome to your new home! Four Bedroom Colonial with all hardwood floors! The Attic space can be a 5th bedroom(17 x9) just needs to be drywalled. The lot size is huge, much opportunity back there. Has a trampoline, above ground pool, back deck porch, still with plenty of space for games, cook outs, and more family fun. Spacious Foyer with Living Room & Dining room. Newer updates in the bathroom. Water heater is new, home has been very well maintained by the owner. Near major freeways, shopping, and restaurants. Less than 10 minutes from Downtown Detroit. This home would be great home for a good sized family, first-time home buyer, or an investor looking for strong rental income.

15. 2026-05-11
    listed $155,000 Active 693-char remark

    Show marketing remark (693 chars)

    Welcome to your new home! Four Bedroom Colonial with all hardwood floors! The Attic space can be a 5th bedroom(17 x9) just needs to be drywalled. The lot size is huge, much opportunity back there. Has a trampoline, above ground pool, back deck porch, still with plenty of space for games, cook outs, and more family fun. Spacious Foyer with Living Room & Dining room. Newer updates in the bathroom. Water heater is new, home has been very well maintained by the owner. Near major freeways, shopping, and restaurants. Less than 10 minutes from Downtown Detroit. This home would be great home for a good sized family, first-time home buyer, or an investor looking for strong rental income.

ⓘ 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: $576 · $48/mo
• Projected year-2 tax: $1,481 · $123/mo
• Expected delta: +$906/yr (+$75/mo · 157.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 69% 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: $19,765
• − Mortgage interest: −$8,682
• − Property taxes: −$576
• − Insurance: −$775
• − Repairs & maintenance: −$1,581
• − Management: −$1,581
• − Depreciation: −$4,509
• Taxable income: $2,060
• Est. tax owed @ 24.0%: −$494
• After-tax cash flow: $4,015/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

2 events — show timeline

• 2026-05-11 Listed $155,000 REALCOMP
• 2026-05-11 Listed $155,000 MiRealSource-MiMLS

Property tax history

-4.2%/yr

Latest (2025): $576 · -21.7% YoY. Source: county tax records.