30825 Prospect St · New Haven, MI 48048

$135,000

3 bd · 1.0 ba · 2,056 sqft · SingleFamily public records · 5 Days on market

Built 1890 0.37 ac 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 +29.2/30.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• Schools +2.9/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step into a piece of New Haven history with this remarkable 1890 historic home. Spanning over 2,000 square feet of living space, this property offers incredible bones and a solid foundation for anyone looking to restore a classic Michigan estate. Featuring 4 spacious bedrooms and 1.5 bathrooms, the residence retains its original character while being completely functional for modern living. The main structure is in remarkably great shape given its century-plus heritage, sitting on a solid Michigan basement with fully functional mechanicals already in place. One of the most exciting features is the unfinished third-story attic space, which boasts a walk-out balcony that could easily become a spectacular primary suite, home office, or studio. Outside, the property includes a large 2.5-car detached garage, providing ample storage and workshop space. While the home needs a ton of updates to fully restore its original luster, it represents a rare investment opportunity in a growing Macomb County community. Whether you are an investor or a historic home enthusiast, this property is ready for its next chapter.

Key facts

• Walk-out balcony
• Original character
• Solid foundation

Tags

• HISTORIC HOME
• SOLID FOUNDATION
• ORIGINAL CHARACTER
• THIRD-STORY ATTIC SPACE
• WALK-OUT BALCONY
• DETACHED GARAGE

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Ground-level entry with steps
• Construction: Cedar and wood siding; Block foundation
• Exterior features: Covered porch

Interior

• Kitchen: Free-standing electric range; Free-standing refrigerator
• Bedrooms: 7 total rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Hot water heating (natural gas); No cooling
• Interior features: Gas water heater; Free-standing electric range; Free-standing refrigerator; Unfinished basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $470 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Cap rate 10.5% vs local median 3.2% in New Haven — 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 57/100 on livability (#650 in MI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime B; Watch: employment D, amenities F, commute F.
• New Haven Community Schools (suburban): math 25% / reading 39% proficiency, ranked #305 of 540 in MI (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 101 active listings in the ZIP; 1,321 units permitted in Macomb County in 2024 (86 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Macomb County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $135,000

Questions for the listing agent

1. Built in 1890 — 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. 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.
4. 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.
5. 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: 1.29% ✓
• Cap rate: 10.47%
• Cash-on-cash: 14.93%
• DSCR: 1.66
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $347,464
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
58910 Main St	0.26mi	4/2.0 (+1)	2,100 (+2%)	3mo	$218,000	$104	73
30367 Margo Dr	0.34mi	3/2.0	2,000 (-3%)	4mo	$334,500	$167	72
58656 Cogswell Ct	0.48mi	3/2.5	2,074 (+1%)	6mo	$375,000	$181	65
30185 Carl St	0.39mi	3/1.5	1,873 (-9%)	4mo	$185,000	$99	62
58302 Pembrooke Ave	0.69mi	3/2.5	2,052 (-0%)	2mo	$384,465	$187	60
58254 Pembrooke Ave	0.72mi	3/2.5	2,052 (-0%)	1mo	$362,680	$177	59
32176 Montclair St	0.73mi	3/2.5	2,064 (+0%)	1mo	$260,000	$126	58
58151 Kincaid St	0.68mi	3/2.5	2,052 (-0%)	5mo	$372,285	$181	58
32170 Bradford St	0.69mi	3/2.5	2,086 (+2%)	4mo	$349,500	$168	56
32202 Bradford St	0.72mi	3/2.5	2,074 (+1%)	4mo	$350,000	$169	56
59033 Amherst Ave	0.56mi	3/2.5	1,793 (-13%)	5mo	$255,000	$142	42
58278 Pembrooke Ave	0.71mi	4/2.5 (+1)	2,347 (+14%)	5mo	$415,110	$177	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: 5.5%
• Equity multiple: 1.21×
• Total profit: $8,080
• Equity at exit: $20,129

10-year hold

• IRR: 14.9%
• Equity multiple: 2.21×
• Total profit: $45,630
• Equity at exit: $11,672

Cash invested: $37,800 (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 48048

• Active inventory: 101
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,738 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$139 /mo · $1,667/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $470

Break-even live

Break-even rent $1,143

Max offer price $135,000

Occupancy floor 68%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-21
   listed $135,000 Active

   Show marketing remark (1120 chars)

   Step into a piece of New Haven history with this remarkable 1890 historic home. Spanning over 2,000 square feet of living space, this property offers incredible bones and a solid foundation for anyone looking to restore a classic Michigan estate. Featuring 4 spacious bedrooms and 1.5 bathrooms, the residence retains its original character while being completely functional for modern living. The main structure is in remarkably great shape given its century-plus heritage, sitting on a solid Michigan basement with fully functional mechanicals already in place. One of the most exciting features is the unfinished third-story attic space, which boasts a walk-out balcony that could easily become a spectacular primary suite, home office, or studio. Outside, the property includes a large 2.5-car detached garage, providing ample storage and workshop space. While the home needs a ton of updates to fully restore its original luster, it represents a rare investment opportunity in a growing Macomb County community. Whether you are an investor or a historic home enthusiast, this property is ready for its next chapter.

2. 2026-05-21
   listed $135,000 Active 1120-char remark

   Show marketing remark (1120 chars)

   Step into a piece of New Haven history with this remarkable 1890 historic home. Spanning over 2,000 square feet of living space, this property offers incredible bones and a solid foundation for anyone looking to restore a classic Michigan estate. Featuring 4 spacious bedrooms and 1.5 bathrooms, the residence retains its original character while being completely functional for modern living. The main structure is in remarkably great shape given its century-plus heritage, sitting on a solid Michigan basement with fully functional mechanicals already in place. One of the most exciting features is the unfinished third-story attic space, which boasts a walk-out balcony that could easily become a spectacular primary suite, home office, or studio. Outside, the property includes a large 2.5-car detached garage, providing ample storage and workshop space. While the home needs a ton of updates to fully restore its original luster, it represents a rare investment opportunity in a growing Macomb County community. Whether you are an investor or a historic home enthusiast, this property is ready for its next chapter.

ⓘ 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: $1,667 · $139/mo
• Projected year-2 tax: $1,873 · $156/mo
• Expected delta: +$206/yr (+$17/mo · 12.4%)

ⓘ 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 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,861
• − Mortgage interest: −$7,562
• − Property taxes: −$1,667
• − Insurance: −$675
• − Repairs & maintenance: −$1,669
• − Management: −$1,669
• − Depreciation: −$3,927
• Taxable income: $3,692
• Est. tax owed @ 24.0%: −$886
• After-tax cash flow: $4,756/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: New Haven Community Schools
• NCES district ID: 2625230
• Math proficiency: 25% ▼ -5.00%
• Reading proficiency: 39% ▼ -5.00%
• Median HH income: $64,247
• Composite: 29.17/100
• National rank: #6575
• State rank: #305 of 540 in MI

Livability — New Haven

• Score: 57/100
• State rank: #650
• US rank: #22110

Category grades

Amenities F Commute F Cost of living A+ Crime B Employment D Housing A+ Health & safety F User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Haven, MI
• City population: 11,065
• Population (ZIP): 11,065

Population outlook (Macomb County) Hauer SSP2

• Today (2025): 925,296 people
• By 2030: 948,226 · +2.5%
• By 2040: 983,961 · +6.3%
• By 2050: 1,010,200 · +9.2%
• By 2075: 1,076,222 · +16.3%
• By 2100: 1,077,065 · +16.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Black 13% Two or more races 10% Hispanic / Latino 4%
• Common ancestry: Romanian 10% Italian 7% Lithuanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Macomb

• 2024 margin: R (+13.7) · D 42.2% · R 55.9% · Other 1.9%
• 2008→2024 swing: -22.3pp toward R · 2008: 8.6pp · 2024: -13.7pp
• All cycles: 2024: R+13.7 2020: R+8.1 2016: R+11.6 2012: D+4.0 2008: D+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -147.74%
• Current HPI: 242.3675
• Rent YoY: —
• Metro: —
• 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

• 2026-05-21 Listed $135,000 MiRealSource-MiMLS
• 2026-05-21 Listed $135,000 REALCOMP

Property tax history

+2.1%/yr

Latest (2025): $1,667 · +2.9% YoY. Source: county tax records.