190 Midland St · Highland Park, MI 48203

$28,500

3 bd · 1.0 ba · 1,152 sqft · SingleFamily public records · 9 Days on market

Built 1915 3,485 sqft lot Est $35k · 18% under ↓ 21% since listing

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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 +15.0/30.0
• ARV discount +15.0/15.0
• 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

Agent Owned. Buyer to verify all information. Must sign and return a Hold Harmless agreement to enter/ view the property.

Key facts

• 3,485 sq ft lot
• Built 1915
• Listed 8 days

Property features AI

Exterior

• Utilities: Public water
• Home design: Colonial architecture; Single-family residence; Residential property
• Construction: Built in 1915; Wood siding construction; Asphalt roof
• Exterior features: 0.08-acre lot; Public water

Interior

• Kitchen: Kitchen (10 x 14)
• Bedrooms: Primary bedroom (11 x 11); Primary bedroom (11 x 11); Bedroom 2 (11 x 10); Bedroom 3 (11 x 10)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: 4 total rooms; Partial basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $28k.

Deal economics

• At list price, monthly cash flow is $846 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $28k).
• Cap rate 41.9% 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: 218 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% 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 41% 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 $197 of loan paydown is wiped out by about $855 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 $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $28,500

Questions for the listing agent

1. Built in 1915 — 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. 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?
4. 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?
5. 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.
6. 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.
7. 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: 4.63% ✓
• Cap rate: 41.92%
• Cash-on-cash: 127.22%
• DSCR: 6.66
• GRM: 1.8

CMA / ARV

• ARV (on-the-fly): $34,560
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
50 Eason St	0.36mi	3/1.5	1,162 (+1%)	1mo	$47,500	$41	79
241 Moss St	0.18mi	3/1.0	1,300 (+13%)	3mo	$172,500	$133	68
101 Stevens St	0.63mi	3/1.5	1,200 (+4%)	6mo	$75,000	$63	56
140 Ferris St	0.64mi	3/1.0	1,100 (-4%)	12mo	$21,000	$19	52
194 Candler St	0.75mi	3/1.5	1,152 (0%)	17mo	$27,500	$24	49
326 Eason St	0.37mi	3/1.0	1,256 (+9%)	23mo	$37,000	$29	48
15512 Log Cabin St	0.73mi	3/1.5	1,122 (-3%)	19mo	$17,000	$15	44
15768 Wabash St	0.58mi	3/1.0	1,000 (-13%)	15mo	$30,000	$30	38
135 Church St	0.66mi	3/2.0	1,074 (-7%)	23mo	$78,000	$73	35

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: —
• Equity multiple: 7.18×
• Total profit: $49,286
• Equity at exit: $4,249

10-year hold

• IRR: —
• Equity multiple: 15.08×
• Total profit: $112,383
• Equity at exit: $2,464

Cash invested: $7,980 (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: 218
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $1,320 high
• Mortgage (P&I): −$149
• Tax est. 1.5%: −$36 /mo · $428/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $846

Break-even live

Break-even rent $249

Max offer price $28,500

Occupancy floor 31%

Sensitivity live

Price	-10% $866	-5% $856	+0% $846	+5% $836	+10% $826
Rent	-10% $742	-5% $794	+0% $846	+5% $898	+10% $950
Rate	-1.0pp $860	-0.5pp $853	base $846	+0.5pp $839	+1.0pp $831

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: $7,125
• Closing costs: $855
• Reserves months: —
• Total cash needed: —

Rent comps 31 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	18d	1	0.37mi
101 Stevens St Highland Park, MI	3.0	1.5	1152	$1,600	$1.39	18d	1	0.63mi
27 Pasadena St Highland Park, MI	2.0	1.0	900	$825	$0.92	44d	1	0.65mi
941 Merton Rd Highland Park, MI	2.0	1.0	850	$1,000	$1.18	44d	1	0.68mi
17550 2nd Ave Detroit, MI	2.0	1.0	1350	$1,150	$0.85	19d	1	0.69mi
730 Whitmore Rd Detroit, MI	1.0–2.0	1.0	850	$850	$1.00	44d	3	0.72mi
17449 Manderson Rd Unit 1 Detroit, MI	2.0	1.0	750	$1,150	$1.53	25d	1	0.76mi
242 Ferris St Highland Park, MI	3.0	1.0	1192	$1,275	$1.07	0d	1	0.83mi
885 Covington Dr Unit 201 Highland Park, MI	2.0	2.0	1350	$1,695	$1.26	44d	1	0.83mi
127 W Buena Vista St Unit 129 Highland Park, MI	2.0	1.0	800	$1,000	$1.25	44d	1	0.89mi
16927 Inverness St Detroit, MI	2.0	1.0	897	$1,650	$1.84	17d	1	0.92mi
17666 Manderson Rd Unit 17666 Detroit, MI	2.0	1.0	1200	$1,595	$1.33	44d	1	0.94mi
17670 Manderson Rd Unit 17670 Detroit, MI	2.0	1.0	1199	$1,595	$1.33	44d	1	0.94mi
1029 Covington Dr Unit 1029 Detroit, MI	2.0	1.0	1200	$1,495	$1.25	44d	1	0.95mi
1031 Covington Dr Unit 1061 Detroit, MI	2.0	1.0	1200	$1,595	$1.33	44d	1	0.95mi
1926 Clements St Unit 1926 Detroit, MI	3.0	1.0	1150	$1,250	$1.09	21d	1	0.95mi
1926 Clements St Detroit, MI	3.0	1.0	1150	$1,150	$1.00	6d	1	0.95mi
64 Glendale St Highland Park, MI	4.0	1.0	1464	$1,500	$1.02	11d	1	1.01mi
17765 Manderson Rd Unit 14 Highland Park, MI	2.0	1.0	1000	$1,175	$1.18	44d	1	1.02mi
17765 Manderson Rd Unit 8 Highland Park, MI	2.0	1.0	1000	$1,215	$1.22	2d	1	1.02mi
2521 W McNichols Rd Unit B2 Detroit, MI	2.0	1.0	1300	$1,250	$0.96	44d	1	1.06mi
16174 Princeton St Detroit, MI	2.0	1.0	985	$1,100	$1.12	20d	1	1.06mi
16174 Princeton St Unit 2 Detroit, MI	2.0	1.0	985	$1,100	$1.12	44d	1	1.06mi
15906 Alden St Detroit, MI	3.0	1.0	1030	$1,150	$1.12	17d	1	1.15mi
2433 Pasadena St Unit 2435 Detroit, MI	2.0	1.0	700	$1,025	$1.46	44d	1	1.18mi
13639 La Salle Blvd Detroit, MI	2.0	1.0	800	$695	$0.87	12d	1	1.19mi
15345 Parkside St Detroit, MI	3.0	1.0	1152	$1,300	$1.13	44d	1	1.29mi
406 W Goldengate St Detroit, MI	2.0	1.0	1050	$1,100	$1.05	44d	1	1.32mi
404 W Golden Gate Highland Park, MI	2.0	1.0	1050	$1,100	$1.05	44d	1	1.32mi
574 W Golden Gate Highland Park, MI	3.0	1.0	1315	$1,300	$0.99	44d	1	1.32mi
2474 Fullerton St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	16d	1	1.48mi

Listing history 7 events

1. 2026-06-21
   days on market $28,500 Active 9 DOM
2. 2026-06-18
   days on market $28,500 Active 6 DOM
3. 2026-06-17
   days on market $28,500 Active 5 DOM
4. 2026-06-16
   days on market $28,500 Active 4 DOM
5. 2026-06-15
   days on market $28,500 Active 3 DOM
6. 2026-06-13
   remarks 121-char remark
7. 2026-06-13
   listed $28,500 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% 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 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,843
• − Mortgage interest: −$1,596
• − Property taxes: −$428
• − Insurance: −$142
• − Repairs & maintenance: −$1,267
• − Management: −$1,267
• − Depreciation: −$829
• Taxable income: $10,312
• Est. tax owed @ 24.0%: −$2,475
• After-tax cash flow: $7,677/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

-20.6% since first listed

20 events — show timeline

• 2026-06-12 Listed $28,500 SW Michigan MLS
• 2026-06-12 Listed $28,500 MiRealSource-MiMLS
• 2025-12-09 Listing Removed — MiRealSource-MiMLS
• 2025-12-09 Listing Removed — REALCOMP
• 2025-10-09 Listed $31,500 MiRealSource-MiMLS
• 2025-10-09 Listed $31,500 REALCOMP
• 2023-12-03 Listing Removed — MiRealSource-MiMLS
• 2023-12-03 Listing Removed — REALCOMP
• 2023-10-27 Price Changed $22,900 MiRealSource-MiMLS
• 2023-10-26 Price Changed $22,900 REALCOMP
• 2023-09-14 Listed $24,900 MiRealSource-MiMLS
• 2023-09-14 Listed $24,900 REALCOMP
• 2023-05-31 Listing Removed — MiRealSource-MiMLS
• 2023-05-31 Listing Removed — REALCOMP
• 2023-05-23 Price Changed $29,900 MiRealSource-MiMLS
• 2023-05-23 Price Changed $29,900 REALCOMP
• 2023-03-12 Price Changed $32,900 MiRealSource-MiMLS
• 2023-03-11 Price Changed $32,900 REALCOMP
• 2023-01-20 Listed $35,900 MiRealSource-MiMLS
• 2023-01-20 Listed $35,900 REALCOMP

Property tax history

+6.1%/yr

Latest (2025): $1,936 · -18.5% YoY. Source: county tax records.