151 Mclean St · Highland Park, MI 48203

$124,999

4 bd · 2.5 ba · 2,026 sqft · Other public records · 364 Days on market

Built 1915 6,098 sqft lot $62/sqft · 17% above area Est $160k · 22% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• 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

Investment Opportunity: Two-story house in an excellent location. It has a new roof, new windows, and a newly paved concrete yard. The property requires plumbing, electrical work, and the addition of partition walls.

Key facts

• New roof
• New windows
• 6,098 sq ft lot

Tags

• NEW ROOF
• NEW WINDOWS
• NEWLY PAVED CONCRETE YARD

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath other listed at $125k.

Deal economics

• At list price, monthly cash flow is $566 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.

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; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• At $1,694/mo this rent would consume 53% of the median local household income ($38k/yr) (locally 1192% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k 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 $35k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 364 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 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 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,999 (12.0% below list)

Questions for the listing agent

1. It's been on market 364 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 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.36% ✓
• Cap rate: 11.73%
• Cash-on-cash: 19.41%
• DSCR: 1.86
• GRM: 6.1

CMA / ARV

• ARV (median comp): $159,689
• List price: $124,999
• Delta: -21.72%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 11.4%
• Equity multiple: 1.45×
• Total profit: $15,774
• Equity at exit: $18,638

10-year hold

• IRR: 20.4%
• Equity multiple: 2.72×
• Total profit: $60,045
• Equity at exit: $10,808

Cash invested: $35,000 (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: 6.1×

Monthly cashflow live

• Estimated rent: $1,694 high
• Mortgage (P&I): −$656
• Tax from tax record: −$65 /mo · $778/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $566

Break-even live

Break-even rent $978

Max offer price $124,999

Occupancy floor 62%

Sensitivity live

Price	-10% $637	-5% $602	+0% $566	+5% $531	+10% $495
Rent	-10% $432	-5% $499	+0% $566	+5% $633	+10% $700
Rate	-1.0pp $629	-0.5pp $598	base $566	+0.5pp $534	+1.0pp $501

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
101 Colorado St Unit NA Highland Park, MI	4.0	1.5	1695	$1,780	$1.05	0d	1	0.10mi
165 Rhode Island St Highland Park, MI	4.0	1.5	1639	$1,200	$0.73	18d	1	0.15mi
168 Beresford St Highland Park, MI	4.0	1.0	1541	$1,475	$0.96	18d	1	0.25mi
64 Glendale St Highland Park, MI	4.0	1.0	1464	$1,500	$1.02	11d	1	0.40mi
41 Richton St Highland Park, MI	5.0	2.0	1871	$1,800	$0.96	2d	1	0.45mi
41 Richton St Highland Park, MI	5.0	2.0	1871	$1,800	$0.96	15d	1	0.45mi
505 Westminster St Detroit, MI	3.0	1.0	1700	$1,400	$0.82	18d	1	1.06mi
330 Westminster St Unit NA Detroit, MI	3.0	1.0	1995	$1,900	$0.95	44d	1	1.08mi
330 Westminster St Detroit, MI	3.0	1.0	1995	$1,900	$0.95	24d	1	1.09mi
634 Atkinson St Detroit, MI	3.0	3.5	3000	$6,500	$2.17	11d	1	1.28mi
216 Holbrook St Detroit, MI	4.0	2.0	2000	$2,000	$1.00	22d	1	1.42mi
216 Holbrook Unit Na Detroit, MI	4.0	2.0	2000	$2,200	$1.10	2d	1	1.42mi
419 King St Detroit, MI	3.0	1.0	1668	$2,300	$1.38	11d	1	1.44mi
1699 Glynn Ct Detroit, MI	5.0	3.5	2542	$2,500	$0.98	22d	1	1.48mi

Listing history 20 events

1. 2026-06-17
   days on market $124,999 Active 364 DOM
2. 2026-06-16
   days on market $124,999 Active 363 DOM
3. 2026-06-15
   days on market $124,999 Active 362 DOM
4. 2026-06-13
   days on market $124,999 Active 360 DOM
5. 2026-06-09
   days on market $124,999 Active 356 DOM
6. 2026-06-08
   days on market $124,999 Active 355 DOM
7. 2026-06-07
   days on market $124,999 Active 354 DOM
8. 2026-06-04
   days on market $124,999 Active 351 DOM
9. 2026-06-03
   days on market $124,999 Active 350 DOM
10. 2026-06-02
    days on market $124,999 Active 349 DOM
11. 2026-06-01
    days on market $124,999 Active 348 DOM
12. 2026-05-31
    days on market $124,999 Active 347 DOM
13. 2026-04-09
    price $124,999 216-char remark

    Show marketing remark (216 chars)

    Investment Opportunity: Two-story house in an excellent location. It has a new roof, new windows, and a newly paved concrete yard. The property requires plumbing, electrical work, and the addition of partition walls.

14. 2026-04-08
    price $124,999 216-char remark

    Show marketing remark (216 chars)

    Investment Opportunity: Two-story house in an excellent location. It has a new roof, new windows, and a newly paved concrete yard. The property requires plumbing, electrical work, and the addition of partition walls.

15. 2025-11-19
    price $119,000 216-char remark

    Show marketing remark (216 chars)

    Investment Opportunity: Two-story house in an excellent location. It has a new roof, new windows, and a newly paved concrete yard. The property requires plumbing, electrical work, and the addition of partition walls.

16. 2025-11-19
    price $119,000 216-char remark

    Show marketing remark (216 chars)

    Investment Opportunity: Two-story house in an excellent location. It has a new roof, new windows, and a newly paved concrete yard. The property requires plumbing, electrical work, and the addition of partition walls.

17. 2025-07-17
    price $120,000 216-char remark

    Show marketing remark (216 chars)

    Investment Opportunity: Two-story house in an excellent location. It has a new roof, new windows, and a newly paved concrete yard. The property requires plumbing, electrical work, and the addition of partition walls.

18. 2025-07-17
    price $120,000 216-char remark

    Show marketing remark (216 chars)

    Investment Opportunity: Two-story house in an excellent location. It has a new roof, new windows, and a newly paved concrete yard. The property requires plumbing, electrical work, and the addition of partition walls.

19. 2025-06-18
    listed $125,000 Active 216-char remark

    Show marketing remark (216 chars)

    Investment Opportunity: Two-story house in an excellent location. It has a new roof, new windows, and a newly paved concrete yard. The property requires plumbing, electrical work, and the addition of partition walls.

20. 2025-06-18
    listed $125,000 Active 216-char remark

    Show marketing remark (216 chars)

    Investment Opportunity: Two-story house in an excellent location. It has a new roof, new windows, and a newly paved concrete yard. The property requires plumbing, electrical work, and the addition of partition walls.

ⓘ 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: $778 · $65/mo
• Projected year-2 tax: $1,352 · $113/mo
• Expected delta: +$573/yr (+$48/mo · 73.7%)

ⓘ 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 ≥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: $20,334
• − Mortgage interest: −$7,002
• − Property taxes: −$778
• − Insurance: −$625
• − Repairs & maintenance: −$1,627
• − Management: −$1,627
• − Depreciation: −$3,636
• Taxable income: $5,039
• Est. tax owed @ 24.0%: −$1,209
• After-tax cash flow: $5,585/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

-0.0% since first listed

8 events — show timeline

• 2026-04-09 Price Changed $124,999 MiRealSource-MiMLS
• 2026-04-08 Price Changed $124,999 REALCOMP
• 2025-11-19 Price Changed $119,000 MiRealSource-MiMLS
• 2025-11-19 Price Changed $119,000 REALCOMP
• 2025-07-17 Price Changed $120,000 MiRealSource-MiMLS
• 2025-07-17 Price Changed $120,000 REALCOMP
• 2025-06-18 Listed $125,000 REALCOMP
• 2025-06-18 Listed $125,000 MiRealSource-MiMLS

Property tax history

-5.1%/yr

Latest (2025): $778 · -18.5% YoY. Source: county tax records.