20644 Elkhart St · Harper Woods, MI 48225

$111,900

3 bd · 1.0 ba · 1,121 sqft · SingleFamily public records · 91 Days on market

Built 1939 4,792 sqft lot Est $96k · 16% 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 +26.9/30.0
• DSCR +9.3/10.0
• 1% rule +7.6/10.0
• Rent growth +3.8/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• ARV discount +0.3/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great 4 bedroom 1 bath home in Harper woods. Would be great investment home. Ready to rent, update or flip. Nice street, close to shopping and expressways. Rooms are approximate not guarantee

Key facts

• Close to expressways
• Investment home
• Close to shopping

Tags

• INVESTMENT HOME
• CLOSE TO SHOPPING
• CLOSE TO EXPRESSWAYS

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Ground-level entry with steps
• Construction: Aluminum siding; Block foundation
• Exterior features: Paved road access; Lot dimensions approximately 40 x 114 (0.11 acre)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Total of 5 rooms; Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $112k.

Deal economics

• At list price, monthly cash flow is $308 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $112k).
• Recommended offer: $102k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 7.7% in Harper Woods — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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+, crime F.
• Harper Woods School District (suburban): math 4% / reading 15% proficiency, ranked #524 of 540 in MI (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Beacon Elementary School (338 students, 84% FRL); Harper Woods Middle School (math 4% / reading 19%, grade F, #469 of 493 statewide, top 95%, 313 students, 82% FRL).
• Market conditions: Rents rising fast (+5.1%/yr); 134 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $774 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 $31k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 6y 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 $16k; list at $112k implies a 599% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $101,829 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1939 — 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 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?
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: 1.26% ✓
• Cap rate: 9.60%
• Cash-on-cash: 11.81%
• DSCR: 1.53
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $96,406
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21211 Newcastle Rd	0.34mi	3/1.0	1,120 (-0%)	2mo	$135,000	$121	83
21135 Littlestone Rd	0.43mi	3/1.0	1,119 (-0%)	1mo	$187,500	$168	79
19904 Washtenaw St	0.48mi	3/1.5	1,119 (-0%)	0mo	$96,000	$86	75
21345 Newcastle Rd	0.41mi	3/2.0	1,092 (-3%)	0mo	$153,500	$141	72
9369 Sanilac St	0.63mi	3/1.0	1,124 (+0%)	1mo	$65,000	$58	69
21628 Newcastle Rd	0.58mi	3/1.0	1,079 (-4%)	0mo	$173,500	$161	66
20244 Mccormick St	0.33mi	3/1.0	1,000 (-11%)	1mo	$75,000	$75	66
11160 Worden St	0.46mi	3/2.0	1,234 (+10%)	1mo	$156,000	$126	57
11640 Somerset Ave	0.62mi	3/2.0	1,028 (-8%)	0mo	$70,000	$68	53
11017 Worden St	0.58mi	3/1.0	961 (-14%)	0mo	$47,500	$49	49
6135 Marseilles St	0.75mi	3/1.0	988 (-12%)	0mo	$55,000	$56	45
10901 Worden St	0.67mi	3/1.5	1,271 (+13%)	1mo	$43,000	$34	44

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: 3.7%
• Equity multiple: 1.15×
• Total profit: $4,569
• Equity at exit: $16,685

10-year hold

• IRR: 15.2%
• Equity multiple: 2.35×
• Total profit: $42,400
• Equity at exit: $9,675

Cash invested: $31,332 (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: 134
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,405 high
• Mortgage (P&I): −$587
• Tax from tax record: −$168 /mo · $2,021/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $308

Break-even live

Break-even rent $1,015

Max offer price $111,900

Occupancy floor 73%

Sensitivity live

Price	-10% $372	-5% $340	+0% $308	+5% $277	+10% $245
Rent	-10% $197	-5% $253	+0% $308	+5% $364	+10% $419
Rate	-1.0pp $365	-0.5pp $337	base $308	+0.5pp $279	+1.0pp $250

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: $27,975
• Closing costs: $3,357
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20461 Kingsville St Harper Woods, MI	4.0	1.0	1100	$1,399	$1.27	16d	1	0.18mi
19203 Edgefield St Harper Woods, MI	2.0	1.0	1100	$1,100	$1.00	26d	1	0.31mi
20926 Moross Rd Grosse Pointe, MI	3.0	1.0	1200	$1,350	$1.12	45d	1	0.38mi
19982 McCormick St Detroit, MI	3.0	1.0	866	$1,200	$1.39	5d	1	0.44mi
10870 Marne St Detroit, MI	3.0	1.0	1156	$1,100	$0.95	19d	1	0.46mi
10985 Peerless St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	6d	1	0.50mi
21401 Kingsville St Harper Woods, MI	2.0	1.0	944	$1,200	$1.27	26d	1	0.51mi
10542 Lanark St Detroit, MI	3.0	1.0	1023	$1,250	$1.22	45d	1	0.54mi
19661 Kenosha St Harper Woods, MI	3.0	2.0	1000	$1,400	$1.40	26d	1	0.57mi
19168 Berden St Grosse Pointe, MI	3.0	1.0	1200	$1,800	$1.50	0d	1	0.62mi
17720 Chester St Detroit, MI	2.0	1.0	986	$1,250	$1.27	45d	1	0.63mi
17710 Chester St Detroit, MI	2.0	1.0	984	$1,250	$1.27	45d	1	0.63mi
19639 Moross Rd Unit 1 Detroit, MI	2.0	1.0	900	$1,100	$1.22	45d	1	0.64mi
6301 Lodewyck St Detroit, MI	3.0	1.0	1084	$1,300	$1.20	14d	1	0.66mi
6301 Lodewyck St Detroit, MI	3.0	1.0	1084	$1,300	$1.20	0d	1	0.66mi
19442 Kingsville St Harper Woods, MI	3.0	1.0	1000	$1,500	$1.50	19d	1	0.70mi
19435 McCormick St Detroit, MI	3.0	2.0	1148	$1,300	$1.13	19d	1	0.72mi
6175 Marseilles St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	45d	1	0.74mi
19365 Kingsville St Harper Woods, MI	4.0	1.5	996	$1,650	$1.66	16d	1	0.77mi
6325 Neff Ave Detroit, MI	3.0	1.0	1000	$1,500	$1.50	4d	1	0.79mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	14d	1	0.84mi
6181 Neff Ave Detroit, MI	3.0	1.0	1102	$1,299	$1.18	19d	1	0.85mi
5915 Farmbrook St Detroit, MI	3.0	1.5	1000	$1,250	$1.25	26d	1	0.88mi
6154 Woodhall St Detroit, MI	2.0	1.0	1136	$1,000	$0.88	45d	1	0.89mi
19152 Woodside St Harper Woods, MI	3.0	1.0	916	$1,500	$1.64	19d	1	0.89mi
6304 Bluehill St Detroit, MI	3.0	1.0	1088	$1,500	$1.38	45d	1	0.90mi
20015 Lochmoor St Harper Woods, MI	3.0	1.0	1006	$1,500	$1.49	18d	1	0.90mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	45d	1	0.93mi
12075 Rossiter St Detroit, MI	3.0	1.0	1100	$1,245	$1.13	16d	1	0.93mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	45d	1	0.93mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	45d	1	0.94mi
19144 Moross Rd Detroit, MI	2.0	1.0	900	$1,050	$1.17	45d	1	0.95mi
6225 Oldtown St Detroit, MI	3.0	1.0	1330	$1,199	$0.90	19d	1	0.97mi
11529 Roxbury St Detroit, MI	2.0	1.0	720	$1,200	$1.67	14d	1	0.99mi
9313 Harvard Rd Detroit, MI	3.0	1.5	1329	$1,200	$0.90	19d	1	0.99mi
19000 Chandler Park Dr Grosse Pointe, MI	2.0	1.0	1374	$2,195	$1.60	0d	1	1.01mi
19000 Chandler Park Dr Grosse Pointe, MI	2.0	1.0	1374	$2,300	$1.67	1d	1	1.01mi
22144 Moross Rd Grosse Pointe, MI	2.0	1.0	819	$1,350	$1.65	19d	1	1.02mi
22144 Moross Rd Grosse Pointe, MI	2.0	1.0	819	$1,350	$1.65	4d	1	1.02mi
11776 Rossiter St Detroit, MI	3.0	1.0	964	$1,150	$1.19	13d	1	1.03mi

Listing history 29 events

1. 2026-06-21
   days on market $111,900 Active 91 DOM
2. 2026-06-18
   days on market $111,900 Active 88 DOM
3. 2026-06-17
   days on market $111,900 Active 87 DOM
4. 2026-06-16
   days on market $111,900 Active 86 DOM
5. 2026-06-15
   days on market $111,900 Active 85 DOM
6. 2026-06-13
   days on market $111,900 Active 83 DOM
7. 2026-06-13
   days on market $111,900 Active 82 DOM
8. 2026-06-09
   days on market $111,900 Active 79 DOM
9. 2026-06-08
   days on market $111,900 Active 78 DOM
10. 2026-06-07
    days on market $111,900 Active 77 DOM
11. 2026-06-04
    days on market $111,900 Active 74 DOM
12. 2026-06-03
    days on market $111,900 Active 73 DOM
13. 2026-06-02
    days on market $111,900 Active 72 DOM
14. 2026-06-01
    days on market $111,900 Active 71 DOM
15. 2026-05-31
    days on market $111,900 Active 70 DOM
16. 2026-05-02
    price $113,500 191-char remark

    Show marketing remark (191 chars)

    Great 4 bedroom 1 bath home in Harper woods. Would be great investment home. Ready to rent, update or flip. Nice street, close to shopping and expressways. Rooms are approximate not guarantee

17. 2026-05-01
    price $113,500
18. 2026-03-28
    historical $1,200
19. 2026-03-22
    listed $114,900 Active

    Show marketing remark (191 chars)

    Great 4 bedroom 1 bath home in Harper woods. Would be great investment home. Ready to rent, update or flip. Nice street, close to shopping and expressways. Rooms are approximate not guarantee

20. 2026-03-22
    listed $114,900 Active 191-char remark

    Show marketing remark (191 chars)

    Great 4 bedroom 1 bath home in Harper woods. Would be great investment home. Ready to rent, update or flip. Nice street, close to shopping and expressways. Rooms are approximate not guarantee

21. 2026-02-19
    price $1,200
22. 2026-01-17
    listed $1,375
23. 2020-03-09
    historical
24. 2020-03-08
    historical
25. 2020-02-01
    price $97,500
26. 2020-02-01
    price $97,500
27. 2020-01-15
    listed $100,000 Active
28. 2020-01-15
    listed $100,000 Active
29. 1994-07-21
    soldstatus $16,000

ⓘ 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: $2,021 · $168/mo
• Projected year-2 tax: $2,021 · $168/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 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $16,863
• − Mortgage interest: −$6,268
• − Property taxes: −$2,021
• − Insurance: −$560
• − Repairs & maintenance: −$1,349
• − Management: −$1,349
• − Depreciation: −$3,255
• Taxable income: $2,060
• Est. tax owed @ 24.0%: −$494
• After-tax cash flow: $3,204/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: Harper Woods School District
• NCES district ID: 2617760
• Math proficiency: 4% ▼ -7.00%
• Reading proficiency: 15% ▼ -9.00%
• Median HH income: $46,155
• Composite: 8.8/100
• National rank: #9892
• State rank: #524 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

+609.4% since first listed

14 events — show timeline

• 2026-05-02 Price Changed $113,500 MiRealSource-MiMLS
• 2026-05-01 Price Changed $113,500 REALCOMP
• 2026-03-28 Rental Removed $1,200 APPFOLIO
• 2026-03-22 Listed $114,900 REALCOMP
• 2026-03-22 Listed $114,900 MiRealSource-MiMLS
• 2026-02-19 Price Changed $1,200 APPFOLIO
• 2026-01-17 Listed for Rent $1,375 APPFOLIO
• 2020-03-09 Listing Removed — REALCOMP
• 2020-03-08 Listing Removed — MiRealSource-MiMLS
• 2020-02-01 Price Changed $97,500 MiRealSource-MiMLS
• 2020-02-01 Price Changed $97,500 REALCOMP
• 2020-01-15 Listed $100,000 MiRealSource-MiMLS
• 2020-01-15 Listed $100,000 REALCOMP
• 1994-07-21 Sold (Public Records) $16,000 Public Records

Property tax history

+0.4%/yr

Latest (2025): $2,021 · -46.7% YoY. Source: county tax records.