131 Brighton St · Highland Park, MI 48203

$24,000

3 bd · 1.5 ba · 1,946 sqft · Townhouse public records · 271 Days on market

Built 1921 2,178 sqft lot

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention investors and first-time rental property buyers! This multi-unit property is your chance to bring a vision to life. Featuring 2 units with solid bones and endless potential, this building is a full rehab project. Ideal for seasoned renovators or buyers looking to break into the rental market with a hands-on investment. Bring your contractor and creativity—whether you're looking to flip, rent, or hold, this property offers the value-add opportunity you've been waiting for. Priced to sell and sold AS-IS. BATVAI

Key facts

• 2,178 sq ft lot
• Built 1921
• Listed 271 days

Property features AI

Finance

• Other: Above-grade finished area approximately 1,946 square feet; Lot around 0.05 acre (approx. 2,178 sq ft); Located in HAMILTON PARK subdivision
• Financial info: Annual property tax approximately $1,367

Exterior

• Parking: Basement parking
• Utilities: Public water; Public sewer / sewer available
• Home design: Multi-family residential property; Two stories
• Exterior features: Front porch

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Natural gas heating; Separate meters for heating; No central cooling
• Interior features: Has basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $24k.

Deal economics

• At list price, monthly cash flow is $930 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $24k).
• Recommended offer: $21k (12.0% below list) — sets the bar for market timing.
• Cap rate 52.8% vs local median 14.2% in Highland Park — 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 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; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 45% of the median local income ($38k/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 $166 of loan paydown is wiped out by about $720 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 271 days — a 12% lower offer ($21k) 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.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1921 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $21,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 271 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1921 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 5.96% ✓
• Cap rate: 52.79%
• Cash-on-cash: 166.05%
• DSCR: 8.39
• GRM: 1.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 9.24×
• Total profit: $55,378
• Equity at exit: $3,578

10-year hold

• IRR: —
• Equity multiple: 19.55×
• Total profit: $124,656
• Equity at exit: $2,075

Cash invested: $6,720 (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: 1.4×

Monthly cashflow live

• Estimated rent: $1,430 high
• Mortgage (P&I): −$126
• Tax from tax record: −$64 /mo · $770/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $930

Break-even live

Break-even rent $253

Max offer price $24,000

Occupancy floor 30%

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: $6,000
• Closing costs: $720
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
326 Eason St Highland Park, MI	3.0	1.0	1256	$1,300	$1.04	17d	1	0.26mi
2521 W McNichols Rd Unit B2 Detroit, MI	2.0	1.0	1300	$1,250	$0.96	43d	1	0.43mi
16503 Linwood St Detroit, MI	4.0	2.0	2415	$1,800	$0.75	3d	1	0.48mi
885 Covington Dr Unit 201 Highland Park, MI	2.0	2.0	1350	$1,695	$1.26	43d	1	0.50mi
17550 2nd Ave Detroit, MI	2.0	1.0	1350	$1,150	$0.85	18d	1	0.62mi
16834 Fairfield St Detroit, MI	2.0	1.0	1516	$1,363	$0.90	24d	1	0.82mi
574 W Golden Gate Highland Park, MI	3.0	1.0	1315	$1,300	$0.99	43d	1	1.13mi
16582 Santa Rosa Dr Detroit, MI	3.0	1.0	1314	$1,399	$1.06	17d	1	1.21mi
17596 Santa Rosa Dr Detroit, MI	2.0	1.0	1350	$1,195	$0.89	43d	1	1.35mi
17596 Santa Rosa Dr Unit 2 Detroit, MI	2.0	1.0	1350	$1,195	$0.89	24d	1	1.35mi
17163 Prairie St Unit 1B Detroit, MI	3.0	1.5	1317	$1,350	$1.03	43d	1	1.39mi
16255 Lilac St Detroit, MI	3.0	1.0	1312	$1,394	$1.06	17d	1	1.45mi

Listing history 19 events

1. 2026-06-18
   days on market $24,000 Active 271 DOM
2. 2026-06-17
   days on market $24,000 Active 270 DOM
3. 2026-06-16
   days on market $24,000 Active 269 DOM
4. 2026-06-15
   days on market $24,000 Active 268 DOM
5. 2026-06-13
   days on market $24,000 Active 266 DOM
6. 2026-06-09
   days on market $24,000 Active 262 DOM
7. 2026-06-08
   days on market $24,000 Active 261 DOM
8. 2026-06-07
   days on market $24,000 Active 260 DOM
9. 2026-06-04
   days on market $24,000 Active 257 DOM
10. 2026-06-03
    days on market $24,000 Active 256 DOM
11. 2026-06-02
    days on market $24,000 Active 255 DOM
12. 2026-06-01
    days on market $24,000 Active 254 DOM
13. 2026-05-31
    days on market $24,000 Active 253 DOM
14. 2026-05-20
    status Active

    Show marketing remark (530 chars)

    Attention investors and first-time rental property buyers! This multi-unit property is your chance to bring a vision to life. Featuring 2 units with solid bones and endless potential, this building is a full rehab project. Ideal for seasoned renovators or buyers looking to break into the rental market with a hands-on investment. Bring your contractor and creativity—whether you're looking to flip, rent, or hold, this property offers the value-add opportunity you've been waiting for. Priced to sell and sold AS-IS. BATVAI

15. 2026-05-20
    status Active 530-char remark

    Show marketing remark (530 chars)

    Attention investors and first-time rental property buyers! This multi-unit property is your chance to bring a vision to life. Featuring 2 units with solid bones and endless potential, this building is a full rehab project. Ideal for seasoned renovators or buyers looking to break into the rental market with a hands-on investment. Bring your contractor and creativity—whether you're looking to flip, rent, or hold, this property offers the value-add opportunity you've been waiting for. Priced to sell and sold AS-IS. BATVAI

16. 2026-01-01
    historical

    Show marketing remark (530 chars)

    Attention investors and first-time rental property buyers! This multi-unit property is your chance to bring a vision to life. Featuring 2 units with solid bones and endless potential, this building is a full rehab project. Ideal for seasoned renovators or buyers looking to break into the rental market with a hands-on investment. Bring your contractor and creativity—whether you're looking to flip, rent, or hold, this property offers the value-add opportunity you've been waiting for. Priced to sell and sold AS-IS. BATVAI

17. 2026-01-01
    historical 530-char remark

    Show marketing remark (530 chars)

    Attention investors and first-time rental property buyers! This multi-unit property is your chance to bring a vision to life. Featuring 2 units with solid bones and endless potential, this building is a full rehab project. Ideal for seasoned renovators or buyers looking to break into the rental market with a hands-on investment. Bring your contractor and creativity—whether you're looking to flip, rent, or hold, this property offers the value-add opportunity you've been waiting for. Priced to sell and sold AS-IS. BATVAI

18. 2025-05-05
    listed $24,000 Active
19. 2025-05-04
    listed $24,000 Active 530-char remark

    Show marketing remark (530 chars)

    Attention investors and first-time rental property buyers! This multi-unit property is your chance to bring a vision to life. Featuring 2 units with solid bones and endless potential, this building is a full rehab project. Ideal for seasoned renovators or buyers looking to break into the rental market with a hands-on investment. Bring your contractor and creativity—whether you're looking to flip, rent, or hold, this property offers the value-add opportunity you've been waiting for. Priced to sell and sold AS-IS. BATVAI

ⓘ 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: $770 · $64/mo
• Projected year-2 tax: $770 · $64/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 2/10 Low 7 d/yr ≥97°F today · 14 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: $17,163
• − Mortgage interest: −$1,344
• − Property taxes: −$770
• − Insurance: −$120
• − Repairs & maintenance: −$1,373
• − Management: −$1,373
• − Depreciation: −$698
• Taxable income: $11,484
• Est. tax owed @ 24.0%: −$2,756
• After-tax cash flow: $8,402/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
• City population: 572,865
• 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

6 events — show timeline

• 2026-05-20 Relisted — REALCOMP
• 2026-05-20 Relisted — MiRealSource-MiMLS
• 2026-01-01 Listing Removed — MiRealSource-MiMLS
• 2026-01-01 Listing Removed — REALCOMP
• 2025-05-05 Listed $24,000 REALCOMP
• 2025-05-04 Listed $24,000 MiRealSource-MiMLS

Property tax history

+2.0%/yr

Latest (2025): $770 · -43.7% YoY. Source: county tax records.