20334 E 8 Mile Rd · Harper Woods, MI 48225

$98,000

2 bd · 1.0 ba · 720 sqft · SingleFamily public records · 16 Days on market

Built 1938 3,920 sqft lot Est $120k · 18% under

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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 +24.9/30.0
• ARV discount +15.0/15.0
• 1% rule +8.4/10.0
• DSCR +8.1/10.0
• Schools +5.7/10.0
• Rent growth +3.8/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment opportunity! This well-maintained property features a long-term tenant of 10+ years, providing immediate and reliable rental income. The home offers several updates, including newer windows, a newer roof, and a freshly paved driveway. Enjoy the added living space of the enclosed 3-season room overlooking the backyard. Conveniently located near I-94 for easy commuting and situated within the highly desirable Grosse Pointe School District. A solid addition to any investment portfolio!

Key facts

• Newer roof
• Backyard
• Newer windows

Tags

• NEWER WINDOWS
• NEWER ROOF
• FRESHLY PAVED DRIVEWAY
• ENCLOSED 3-SEASON ROOM
• BACKYARD
• GROSSE POINTE SCHOOL DISTRICT

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One-level entry at ground level; One story
• Construction: Vinyl siding
• Exterior features: Paved road access; Lot dimensions approximately 40 x 93 (0.09 acres)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No cooling
• Interior features: Crawl space basement; Total of 4 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $98k.

Deal economics

• At list price, monthly cash flow is $209 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $98k).
• Recommended offer: $97k (1.5% 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; 1 comparable units currently listed for rent nearby; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $678 of loan paydown is wiped out by about $3k 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 + 5.1% rent growth), your $27k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 27y 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 $57k; list at $98k implies a 72% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1938 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $96,530 (1.5% below list)

Questions for the listing agent

1. Built in 1938 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.34% ✓
• Cap rate: 8.86%
• Cash-on-cash: 9.15%
• DSCR: 1.41
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $120,240
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20380 Hollywood St	0.07mi	2/1.5	709 (-2%)	17mo	$107,000	$151	78
20488 Hollywood St	0.07mi	2/1.0	756 (+5%)	17mo	$90,000	$119	74
20518 W Hollywood St S	0.10mi	2/1.0	750 (+4%)	18mo	$42,500	$57	73
20040 E 8 Mile Rd	0.11mi	2/1.0	792 (+10%)	12mo	$159,000	$201	68
2104 Roslyn Rd	0.58mi	2/1.0	704 (-2%)	4mo	$170,000	$241	66
2138 Ridgemont Rd	0.53mi	2/1.0	809 (+12%)	2mo	$135,000	$167	53

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: 0.4%
• Equity multiple: 1.01×
• Total profit: $402
• Equity at exit: $14,612

10-year hold

• IRR: 12.4%
• Equity multiple: 2.10×
• Total profit: $30,134
• Equity at exit: $8,473

Cash invested: $27,440 (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: 6.2×

Monthly cashflow live

• Estimated rent: $1,316 medium
• Mortgage (P&I): −$514
• Tax from tax record: −$275 /mo · $3,303/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $209

Break-even live

Break-even rent $1,051

Max offer price $98,000

Occupancy floor 79%

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: $24,500
• Closing costs: $2,940
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22843 Grove St #47 Saint Clair Shores, MI	1.0	1.0	700	$1,100	$1.57	20d	1	1.06mi

Listing history 12 events

1. 2026-06-18
   days on market $98,000 Active 16 DOM
2. 2026-06-17
   days on market $98,000 Active 15 DOM
3. 2026-06-16
   days on market $98,000 Active 14 DOM
4. 2026-06-15
   days on market $98,000 Active 13 DOM
5. 2026-06-13
   days on market $98,000 Active 11 DOM
6. 2026-06-13
   days on market $98,000 Active 10 DOM
7. 2026-06-09
   days on market $98,000 Active 7 DOM
8. 2026-06-08
   days on market $98,000 Active 6 DOM
9. 2026-06-07
   days on market $98,000 Active 5 DOM
10. 2026-06-04
    days on market $98,000 Active 2 DOM
11. 2026-06-02
    remarks 504-char remark

    Show marketing remark (504 chars)

    Great investment opportunity! This well-maintained property features a long-term tenant of 10+ years, providing immediate and reliable rental income. The home offers several updates, including newer windows, a newer roof, and a freshly paved driveway. Enjoy the added living space of the enclosed 3-season room overlooking the backyard. Conveniently located near I-94 for easy commuting and situated within the highly desirable Grosse Pointe School District. A solid addition to any investment portfolio!

12. 2026-06-02
    listed $98,000 Active 1 DOM

    Show marketing remark (504 chars)

    Great investment opportunity! This well-maintained property features a long-term tenant of 10+ years, providing immediate and reliable rental income. The home offers several updates, including newer windows, a newer roof, and a freshly paved driveway. Enjoy the added living space of the enclosed 3-season room overlooking the backyard. Conveniently located near I-94 for easy commuting and situated within the highly desirable Grosse Pointe School District. A solid addition to any investment portfolio!

ⓘ 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: $3,303 · $275/mo
• Projected year-2 tax: $3,303 · $275/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 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,787
• − Mortgage interest: −$5,490
• − Property taxes: −$3,303
• − Insurance: −$490
• − Repairs & maintenance: −$1,263
• − Management: −$1,263
• − Depreciation: −$2,851
• Taxable income: $1,128
• Est. tax owed @ 24.0%: −$271
• After-tax cash flow: $2,241/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

+15.3% since first listed

8 events — show timeline

• 2026-06-02 Listed $98,000 MiRealSource-MiMLS
• 2026-06-02 Listed $98,000 REALCOMP
• 2003-05-12 Sold (Public Records) $57,000 Public Records
• 1999-11-12 Sold (Public Records) $28,500 Public Records
• 1999-09-22 Sold (MLS) $1 MiRealSource-MiMLS
• 1999-09-08 Listing Removed — MiRealSource-MiMLS
• 1999-08-24 Listed $64,900 MiRealSource-MiMLS
• 1998-11-12 Sold (Public Records) $85,000 Public Records

Property tax history

+8.3%/yr

Latest (2025): $3,303 · +1.5% YoY. Source: county tax records.