20240 Hollywood St · Harper Woods, MI 48225

$154,900

3 bd · 1.0 ba · 1,005 sqft · SingleFamily public records · 51 Days on market

Built 1942 6,970 sqft lot $154/sqft · 9% above area Est $142k · 9% 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 +19.4/30.0
• DSCR +6.1/10.0
• Schools +5.7/10.0
• 1% rule +5.5/10.0
• Rent growth +3.8/5.0
• Livability +3.7/5.0
• ARV discount +3.5/15.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move-in ready and meticulously maintained, this charming bungalow is ideally situated with access to sought-after Grosse Pointe Schools. Featuring 3 bedrooms, 2 full bathrooms, and 1,005 square feet of comfortable living space, this home is perfect for easy, everyday living. Enjoy the added convenience of newer appliances, making your move seamless from day one. The location truly shines - just minutes from grocery stores, dining options, gas stations, and everyday essentials, with a neighborhood park only a few doors away for outdoor enjoyment. Whether you're looking for a place to call home or a smart investment opportunity, this property offers both comfort and convenience in a desirable setting.

Key facts

• 6,970 sq ft lot
• 2 garage spots
• Built 1942

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half stories; Ground-level entry with steps
• Construction: Aluminum siding; Asphalt roof
• Exterior features: Patio; Paved road access; Lot approximately 0.16 acres (60 x 116.5)

Interior

• Kitchen: Free-standing electric range; Free-standing refrigerator
• Bedrooms: Total of 6 rooms (bedroom count not specified)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Free-standing electric range; Free-standing refrigerator; Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $174 ($2k/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.

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; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 32% 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

• It's been on market 51 days — a 3% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 30y 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 $26k; list at $155k implies a 496% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $150,253 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 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 1942 — 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 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?
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: 1.05% ✓
• Cap rate: 7.64%
• Cash-on-cash: 4.81%
• DSCR: 1.21
• GRM: 7.9

CMA / ARV

• ARV (median comp): $142,375
• List price: $154,900
• Delta: 8.80%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20842 Ridgemont Rd	0.41mi	3/1.0	1,001 (-0%)	3mo	$85,000	$85	78
20631 Chalon St	0.47mi	3/1.0	1,001 (-0%)	1mo	$255,000	$255	76
19820 Avalon St	0.64mi	3/1.0	1,013 (+1%)	2mo	$219,000	$216	68
20672 Fleetwood Dr	0.52mi	3/1.0	1,031 (+3%)	6mo	$115,000	$112	66
20625 Avalon St	0.71mi	3/1.0	1,000 (-0%)	1mo	$161,445	$161	65
20688 Fleetwood Dr	0.53mi	3/1.0	1,053 (+5%)	3mo	$173,000	$164	65
20624 Sunnyside St	0.65mi	3/1.0	1,025 (+2%)	5mo	$199,000	$194	62
20871 Van Antwerp St	0.49mi	2/1.5 (-1)	950 (-6%)	3mo	$170,000	$179	58
20402 Kenmore Ave	0.72mi	3/1.5	1,055 (+5%)	3mo	$110,000	$104	53
20223 Avalon St	0.67mi	3/1.0	931 (-7%)	7mo	$150,000	$161	51
19813 Rosedale St	0.72mi	3/2.0	909 (-10%)	3mo	$209,000	$230	44
2126 Ridgemont Rd	0.64mi	2/1.0 (-1)	892 (-11%)	6mo	$150,000	$168	41

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: -6.4%
• Equity multiple: 0.76×
• Total profit: $-10,445
• Equity at exit: $23,096

10-year hold

• IRR: 5.8%
• Equity multiple: 1.47×
• Total profit: $20,470
• Equity at exit: $13,393

Cash invested: $43,372 (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: 7.9×

Monthly cashflow live

• Estimated rent: $1,632 high
• Mortgage (P&I): −$812
• Tax from tax record: −$239 /mo · $2,865/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $174

Break-even live

Break-even rent $1,412

Max offer price $154,900

Occupancy floor 84%

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20270 Hollywood St Harper Woods, MI	3.0	1.0	1228	$1,650	$1.34	1d	1	0.01mi
20600 Balfour St Harper Woods, MI	1.0–2.0	1.0–2.0	971	$1,671	$1.72	1d	12	0.31mi
2175 Ridgemont Rd Grosse Pointe Woods, MI	2.0	1.0	1100	$1,300	$1.18	43d	1	0.58mi
20015 Lochmoor St Harper Woods, MI	3.0	1.0	1006	$1,500	$1.49	16d	1	0.61mi
2037 Vernier Rd Grosse Pointe Woods, MI	2.0	1.0	850	$1,350	$1.59	43d	1	0.73mi
1992 Hawthorne Rd Grosse Pointe Woods, MI	3.0	2.0	1071	$2,100	$1.96	10d	1	0.75mi
22126 Alger St Saint Clair Shores, MI	2.0	1.5	1060	$1,750	$1.65	10d	1	1.05mi
20625 Elizabeth St Saint Clair Shores, MI	3.0	2.0	1074	$1,895	$1.76	43d	1	1.05mi
22307 Greater Mack Ave St Clair Shores, MI	2.0	1.0	806	$1,195	$1.48	2d	1	1.20mi
23005 Kelly Rd Eastpointe, MI	2.0	1.0	850	$1,250	$1.47	23d	1	1.28mi
23124 Grove St Saint Clair Shores, MI	3.0	1.0	1129	$2,000	$1.77	1d	1	1.39mi
19152 Woodside St Harper Woods, MI	3.0	1.0	916	$1,500	$1.64	17d	1	1.40mi
22030 Cushing Ave Eastpointe, MI	3.0	2.0	1300	$1,650	$1.27	4d	1	1.43mi
19661 Kenosha St Harper Woods, MI	3.0	2.0	1000	$1,400	$1.40	24d	1	1.47mi
16410 Edmore Dr Detroit, MI	3.0	1.0	850	$1,250	$1.47	14d	1	1.49mi

Listing history 43 events

1. 2026-06-18
   days on market $154,900 Active 51 DOM
2. 2026-06-17
   days on market $154,900 Active 50 DOM
3. 2026-06-16
   days on market $154,900 Active 49 DOM
4. 2026-06-15
   days on market $154,900 Active 48 DOM
5. 2026-06-13
   days on market $154,900 Active 46 DOM
6. 2026-06-13
   days on market $154,900 Active 45 DOM
7. 2026-06-09
   days on market $154,900 Active 42 DOM
8. 2026-06-08
   days on market $154,900 Active 41 DOM
9. 2026-06-07
   days on market $154,900 Active 40 DOM
10. 2026-06-04
    days on market $154,900 Active 37 DOM
11. 2026-06-03
    days on market $154,900 Active 36 DOM
12. 2026-06-02
    days on market $154,900 Active 35 DOM
13. 2026-06-01
    days on market $154,900 Active 34 DOM
14. 2026-05-31
    days on market $154,900 Active 33 DOM
15. 2026-04-28
    historical

    Show marketing remark (708 chars)

    Move-in ready and meticulously maintained, this charming bungalow is ideally situated with access to sought-after Grosse Pointe Schools. Featuring 3 bedrooms, 2 full bathrooms, and 1,005 square feet of comfortable living space, this home is perfect for easy, everyday living. Enjoy the added convenience of newer appliances, making your move seamless from day one. The location truly shines - just minutes from grocery stores, dining options, gas stations, and everyday essentials, with a neighborhood park only a few doors away for outdoor enjoyment. Whether you're looking for a place to call home or a smart investment opportunity, this property offers both comfort and convenience in a desirable setting.

16. 2026-04-28
    listed $154,900 Active 708-char remark

    Show marketing remark (708 chars)

    Move-in ready and meticulously maintained, this charming bungalow is ideally situated with access to sought-after Grosse Pointe Schools. Featuring 3 bedrooms, 2 full bathrooms, and 1,005 square feet of comfortable living space, this home is perfect for easy, everyday living. Enjoy the added convenience of newer appliances, making your move seamless from day one. The location truly shines - just minutes from grocery stores, dining options, gas stations, and everyday essentials, with a neighborhood park only a few doors away for outdoor enjoyment. Whether you're looking for a place to call home or a smart investment opportunity, this property offers both comfort and convenience in a desirable setting.

17. 2026-04-28
    listed $154,900 Active

    Show marketing remark (708 chars)

    Move-in ready and meticulously maintained, this charming bungalow is ideally situated with access to sought-after Grosse Pointe Schools. Featuring 3 bedrooms, 2 full bathrooms, and 1,005 square feet of comfortable living space, this home is perfect for easy, everyday living. Enjoy the added convenience of newer appliances, making your move seamless from day one. The location truly shines - just minutes from grocery stores, dining options, gas stations, and everyday essentials, with a neighborhood park only a few doors away for outdoor enjoyment. Whether you're looking for a place to call home or a smart investment opportunity, this property offers both comfort and convenience in a desirable setting.

18. 2026-04-28
    historical

    Show marketing remark (708 chars)

    Move-in ready and meticulously maintained, this charming bungalow is ideally situated with access to sought-after Grosse Pointe Schools. Featuring 3 bedrooms, 2 full bathrooms, and 1,005 square feet of comfortable living space, this home is perfect for easy, everyday living. Enjoy the added convenience of newer appliances, making your move seamless from day one. The location truly shines - just minutes from grocery stores, dining options, gas stations, and everyday essentials, with a neighborhood park only a few doors away for outdoor enjoyment. Whether you're looking for a place to call home or a smart investment opportunity, this property offers both comfort and convenience in a desirable setting.

19. 2026-02-03
    status Active
20. 2026-02-03
    historical
21. 2026-01-09
    listed $159,900 Active
22. 2026-01-09
    listed $159,900 Active
23. 2009-10-02
    historical
24. 2009-10-02
    historical
25. 2009-08-24
    listed $59,900
26. 2009-08-22
    listed $59,900
27. 2009-06-30
    historical
28. 2009-06-09
    historical
29. 2008-11-05
    listed $63,990
30. 2008-11-05
    listed $63,990
31. 2008-06-12
    soldstatus $26,000
32. 2008-05-14
    historical
33. 2008-03-21
    historical
34. 2007-11-21
    listed $32,500
35. 2007-11-20
    listed $32,500
36. 2007-03-31
    historical
37. 2006-12-19
    listed $99,900
38. 2004-12-09
    soldstatus $72,000
39. 1996-10-11
    soldstatus $70,500
40. 1996-09-27
    soldstatus $70,500
41. 1996-08-26
    historical
42. 1996-08-16
    listed $71,899
43. 1995-07-11
    soldstatus $47,000

ⓘ 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: $2,865 · $239/mo
• Projected year-2 tax: $2,865 · $239/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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,589
• − Mortgage interest: −$8,677
• − Property taxes: −$2,865
• − Insurance: −$774
• − Repairs & maintenance: −$1,567
• − Management: −$1,567
• − Depreciation: −$4,506
• Taxable loss: −$368
• Est. tax savings @ 24.0%: +$88
• After-tax cash flow: $2,176/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

+229.6% since first listed

29 events — show timeline

• 2026-04-28 Listing Removed — MiRealSource-MiMLS
• 2026-04-28 Listed $154,900 REALCOMP
• 2026-04-28 Listed $154,900 MiRealSource-MiMLS
• 2026-04-28 Listing Removed — REALCOMP
• 2026-02-03 Relisted — REALCOMP
• 2026-02-03 Listing Removed — REALCOMP
• 2026-01-09 Listed $159,900 REALCOMP
• 2026-01-09 Listed $159,900 MiRealSource-MiMLS
• 2009-10-02 Listing Removed — MiRealSource-MiMLS
• 2009-10-02 Listing Removed — REALCOMP
• 2009-08-24 Listed $59,900 REALCOMP
• 2009-08-22 Listed $59,900 MiRealSource-MiMLS
• 2009-06-30 Listing Removed — MiRealSource-MiMLS
• 2009-06-09 Listing Removed — REALCOMP
• 2008-11-05 Listed $63,990 REALCOMP
• 2008-11-05 Listed $63,990 MiRealSource-MiMLS
• 2008-06-12 Sold (MLS) $26,000 MiRealSource-MiMLS
• 2008-05-14 Listing Removed — MiRealSource-MiMLS
• 2008-03-21 Listing Removed — REALCOMP
• 2007-11-21 Listed $32,500 REALCOMP
• 2007-11-20 Listed $32,500 MiRealSource-MiMLS
• 2007-03-31 Listing Removed — MiRealSource-MiMLS
• 2006-12-19 Listed $99,900 MiRealSource-MiMLS
• 2004-12-09 Sold (Public Records) $72,000 Public Records
• 1996-10-11 Sold (Public Records) $70,500 Public Records
• 1996-09-27 Sold (MLS) $70,500 MiRealSource-MiMLS
• 1996-08-26 Listing Removed — MiRealSource-MiMLS
• 1996-08-16 Listed $71,899 MiRealSource-MiMLS
• 1995-07-11 Sold (Public Records) $47,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $2,865 · +1.5% YoY. Source: county tax records.