164 California St · Highland Park, MI 48203

$130,000

3 bd · 1.5 ba · 1,344 sqft · SingleFamily public records · 18 Days on market

Built 1909 6,098 sqft lot

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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 +28.4/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• 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

Welcome! Give yourself the opportunity to make this house, your home! Take a look at this distinguished single-family residence which gives the option for a refined urban living. This property has great architectural character, offering a unique blend of historical and contemporary features. Including; desired natural hard wood floors throughout the main level but also underneath the carpeted second level, a fireplace, stained glass window details, and crown molding to name a few. Enjoy the spacious and natural flowing floor plan with an inviting dining room and desired privacy of second floor bedrooms. As a bonus, the basement already has an area framed out to be an additional room of your choice. The roof is only 8 years old, all appliances, a snow blower, lawn mower and home generator are included! Some TLC is needed but this gives the perfect opportunity for personalization and remodeling. Don't hesitate to acquire a piece of Highland Park's architectural heritage in this prestigious neighborhood.

Key facts

• 6,098 sq ft lot
• Built 1909
• Listed 17 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Ground-level entry with steps
• Construction: Brick exterior; Block foundation
• Exterior features: Paved road access; Lot dimensions approximately 40 x 150 (0.14 acres)

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot water heating; Natural gas heating; Radiant heating; Steam heating; Ceiling fans; No central air
• Interior features: Fireplace in the living room; Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $419 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $128k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 14.2% in Highland Park — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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; 28 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 $1,533/mo this rent would consume 48% 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 $899 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 $36k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 19y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $16k; list at $130k implies a 712% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $128,050 (1.5% below list)

Questions for the listing agent

1. Built in 1909 — 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: 1.18% ✓
• Cap rate: 10.16%
• Cash-on-cash: 13.82%
• DSCR: 1.61
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $41,664
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
137 Rhode Island St	0.18mi	3/2.0	1,405 (+4%)	12mo	$47,000	$33	72
535 Woodland St	0.19mi	3/2.0	1,472 (+10%)	2mo	$170,000	$115	72
207 Connecticut St	0.09mi	3/1.0	1,472 (+10%)	9mo	$35,000	$24	70
600 Harmon St	0.41mi	4/1.0 (+1)	1,375 (+2%)	6mo	$57,000	$41	65
225 Farrand Park	0.41mi	3/1.0	1,458 (+8%)	2mo	$20,000	$14	63
202 Farrand Park	0.37mi	3/1.0	1,482 (+10%)	4mo	$40,000	$27	60
254 Colorado St	0.27mi	3/1.0	1,149 (-14%)	10mo	$125,000	$109	53
189 Tuxedo St	0.71mi	3/1.0	1,425 (+6%)	4mo	$25,000	$18	52
114 E E Grand	0.69mi	3/2.0	1,323 (-2%)	20mo	$131,000	$99	47
250 Beresford St	0.57mi	3/1.5	1,144 (-15%)	16mo	$35,000	$31	36
64 Glendale St	0.57mi	4/1.0 (+1)	1,464 (+9%)	22mo	$37,000	$25	33

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: 4.0%
• Equity multiple: 1.15×
• Total profit: $5,595
• Equity at exit: $19,383

10-year hold

• IRR: 13.5%
• Equity multiple: 2.07×
• Total profit: $39,083
• Equity at exit: $11,240

Cash invested: $36,400 (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: 7.1×

Monthly cashflow live

• Estimated rent: $1,533 high
• Mortgage (P&I): −$682
• Tax from tax record: −$56 /mo · $667/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $419

Break-even live

Break-even rent $1,002

Max offer price $130,000

Occupancy floor 68%

Sensitivity live

Price	-10% $493	-5% $456	+0% $419	+5% $382	+10% $346
Rent	-10% $298	-5% $359	+0% $419	+5% $480	+10% $540
Rate	-1.0pp $485	-0.5pp $452	base $419	+0.5pp $386	+1.0pp $351

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
165 Rhode Island St Highland Park, MI	4.0	1.5	1639	$1,200	$0.73	18d	1	0.20mi
520 Englewood St Detroit, MI	4.0	1.5	1086	$1,725	$1.59	25d	1	0.24mi
101 Colorado St Unit NA Highland Park, MI	4.0	1.5	1695	$1,780	$1.05	0d	1	0.30mi
613 Belmont St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	18d	1	0.48mi
168 Beresford St Highland Park, MI	4.0	1.0	1541	$1,475	$0.96	18d	1	0.58mi
64 Glendale St Highland Park, MI	4.0	1.0	1464	$1,500	$1.02	10d	1	0.59mi
505 Westminster St Detroit, MI	3.0	1.0	1700	$1,400	$0.82	18d	1	0.72mi
9429 Brush St Unit 1B Detroit, MI	2.0	1.0	1500	$1,523	$1.02	44d	1	0.77mi
27 Pasadena St Highland Park, MI	2.0	1.0	900	$825	$0.92	44d	1	0.87mi
156 Leicester Ct Apt 2 Detroit, MI	3.0	1.0	1000	$1,250	$1.25	44d	1	0.90mi
70 Clairmount Ave Unit 2B Detroit, MI	2.0	1.0	955	$1,400	$1.47	3d	1	0.99mi
2315 Yemans St Hamtramck, MI	2.0	2.5	1328	$1,600	$1.20	18d	1	1.10mi
419 King St Detroit, MI	3.0	1.0	1668	$2,300	$1.38	10d	1	1.11mi
1427 Calvert Ave Detroit, MI	3.0	1.0	1100	$1,750	$1.59	44d	1	1.13mi
1427 Calvert Ave Detroit, MI	3.0	1.0	1100	$1,850	$1.68	25d	1	1.13mi
557 Hague St Detroit, MI	2.0	1.0	1250	$1,400	$1.12	44d	1	1.23mi
2297 Florian St Unit 2297 Hamtramck, MI	2.0	1.0	1500	$1,250	$0.83	25d	1	1.23mi
2716 Belmont St Unit B Hamtramck, MI	2.0	1.0	965	$775	$0.80	21d	1	1.25mi
9844 Woodrow Wilson St Detroit, MI	3.0	1.0	1187	$1,300	$1.10	13d	1	1.28mi
719 Gladstone Ave Detroit, MI	2.0	1.0	1200	$1,750	$1.46	20d	1	1.29mi
715 Gladstone Ave Detroit, MI	2.0	1.0	1200	$1,750	$1.46	20d	1	1.29mi
528 E Philadelphia St Detroit, MI	3.0	1.0	1625	$2,400	$1.48	2d	1	1.32mi
8416 Brush St Detroit, MI	3.0	1.5	1200	$2,200	$1.83	2d	1	1.34mi
68 E Philadelphia St Detroit, MI	3.0	2.0	1000	$1,750	$1.75	44d	1	1.34mi
8410 Brush St Detroit, MI	3.0	2.5	1300	$2,200	$1.69	2d	1	1.35mi
242 Ferris St Highland Park, MI	3.0	1.0	1192	$1,275	$1.07	0d	1	1.41mi
1929 Calvert Ave Unit 2 Detroit, MI	3.0	1.0	1414	$1,199	$0.85	15d	1	1.45mi
2023 Tuxedo St Detroit, MI	2.0	1.0	950	$1,050	$1.11	25d	1	1.47mi

Listing history 13 events

1. 2026-06-18
   days on market $130,000 Active 18 DOM
2. 2026-06-17
   days on market $130,000 Active 17 DOM
3. 2026-06-16
   days on market $130,000 Active 16 DOM
4. 2026-06-15
   pricedays on market $130,000 Active 15 DOM
5. 2026-06-13
   days on market $140,000 Active 13 DOM
6. 2026-06-09
   days on market $140,000 Active 9 DOM
7. 2026-06-08
   days on market $140,000 Active 8 DOM
8. 2026-06-07
   days on market $140,000 Active 7 DOM
9. 2026-06-04
   days on market $140,000 Active 4 DOM
10. 2026-06-03
    days on market $140,000 Active 3 DOM
11. 2026-06-02
    days on market $140,000 Active 2 DOM
12. 2026-06-01
    remarks 699-char remark
13. 2026-06-01
    listed $140,000 Active 1 DOM

ⓘ 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: $667 · $56/mo
• Projected year-2 tax: $1,334 · $111/mo
• Expected delta: +$668/yr (+$56/mo · 100.2%)

ⓘ 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 · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,390
• − Mortgage interest: −$7,282
• − Property taxes: −$667
• − Insurance: −$650
• − Repairs & maintenance: −$1,471
• − Management: −$1,471
• − Depreciation: −$3,782
• Taxable income: $3,068
• Est. tax owed @ 24.0%: −$736
• After-tax cash flow: $4,295/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

+86.7% since first listed

12 events — show timeline

• 2026-06-01 Listed $140,000 REALCOMP
• 2026-05-31 Listed $140,000 MiRealSource-MiMLS
• 2007-11-20 Sold (MLS) $16,000 MiRealSource-MiMLS
• 2007-11-20 Sold (MLS) $16,000 REALCOMP
• 2007-10-24 Listing Removed — MiRealSource-MiMLS
• 2007-09-26 Listing Removed — MiRealSource-MiMLS
• 2007-09-25 Listed $14,900 MiRealSource-MiMLS
• 2007-09-25 Listed $14,900 REALCOMP
• 2007-09-24 Listing Removed — REALCOMP
• 2007-03-30 Listed $25,900 MiRealSource-MiMLS
• 2007-03-29 Listed $25,900 REALCOMP
• 2004-08-20 Sold (Public Records) $75,000 Public Records

Property tax history

-5.1%/yr

Latest (2025): $667 · -21.7% YoY. Source: county tax records.