141 Tyler St · Highland Park, MI 48203

$49,500

3 bd · 1.5 ba · 1,352 sqft · SingleFamily public records · 35 Days on market

Built 1915 3,920 sqft lot Est $54k · 8% under

---

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 +11.3/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

This “very large” Colonial offers enormous potential for investors or homeowners looking for their next project. Recently and thoroughly cleaned, the property now provides a fresh canvas ideal for a flip, rental investment, or long-term residence. The main level features a spacious living room and dining area with decent hardwood flooring throughout, along with a traditional-sized kitchen and a three-season room located just off the kitchen - perfect for additional entertaining or relaxation space. Upstairs includes three generously sized bedrooms, a full bathroom, and a large attic area offering additional storage or possible future expansion opportunities. The partially finished basement includes an updated water meter and added usable space. The garage has recently been torn down, creating an expansive backyard with endless possibilities for landscaping, parking, recreation, or future additions. Seller is motivated and willing to consider all reasonable offers. Great opportunity to unlock the value and potential of this classic Colonial property.

Key facts

• Three season room
• Large attic area
• Expansive backyard

Tags

• SPACIOUS LIVING ROOM
• THREE SEASON ROOM
• LARGE ATTIC AREA
• PARTIALLY FINISHED BASEMENT
• EXPANSIVE BACKYARD

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Ground-level entry
• Construction: Shingle siding; Brick/mortar foundation
• Exterior features: Paved road access; Lot approximately 0.09 acres (35 x 114.42)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Fireplace in the living room; Partially finished basement; 7 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $755 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 24.6% 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; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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).
• This rent runs 44% 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 $342 of loan paydown is wiped out by about $1k 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 $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($48k) 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 $48,015 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 2.82% ✓
• Cap rate: 24.60%
• Cash-on-cash: 65.37%
• DSCR: 3.91
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $54,080
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
213 Avalon St	0.18mi	3/2.5	1,404 (+4%)	1mo	$139,000	$99	80
199 Waverly St	0.13mi	3/1.0	1,324 (-2%)	11mo	$35,000	$26	80
134 Tyler St	0.03mi	4/1.0 (+1)	1,280 (-5%)	4mo	$28,000	$22	80
186 Tyler St	0.09mi	3/1.5	1,428 (+6%)	19mo	$91,000	$64	70
1568 Highland St	0.64mi	4/2.0 (+1)	1,344 (-1%)	6mo	$65,000	$48	57
189 Tuxedo St	0.65mi	3/1.0	1,425 (+5%)	4mo	$25,000	$18	56
114 E E Grand	0.53mi	3/2.0	1,323 (-2%)	20mo	$131,000	$99	53
137 Rhode Island St	0.64mi	3/2.0	1,405 (+4%)	12mo	$47,000	$33	52
1689 Tyler St	0.71mi	3/1.5	1,260 (-7%)	6mo	$77,300	$61	50
225 Farrand Park	0.72mi	3/1.0	1,458 (+8%)	2mo	$20,000	$14	49
202 Farrand Park	0.68mi	3/1.0	1,482 (+10%)	4mo	$40,000	$27	46
1563 W Buena Vista St	0.56mi	2/1.0 (-1)	1,312 (-3%)	18mo	$52,000	$40	46

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: 64.6%
• Equity multiple: 3.89×
• Total profit: $40,093
• Equity at exit: $7,381

10-year hold

• IRR: 68.9%
• Equity multiple: 7.99×
• Total profit: $96,932
• Equity at exit: $4,280

Cash invested: $13,860 (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: 3.0×

Monthly cashflow live

• Estimated rent: $1,394 high
• Mortgage (P&I): −$260
• Tax from tax record: −$66 /mo · $788/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $755

Break-even live

Break-even rent $438

Max offer price $49,500

Occupancy floor 41%

Sensitivity live

Price	-10% $783	-5% $769	+0% $755	+5% $741	+10% $727
Rent	-10% $645	-5% $700	+0% $755	+5% $810	+10% $865
Rate	-1.0pp $780	-0.5pp $768	base $755	+0.5pp $742	+1.0pp $729

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: $12,375
• Closing costs: $1,485
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
64 Glendale St Highland Park, MI	4.0	1.0	1464	$1,500	$1.02	11d	1	0.21mi
27 Pasadena St Highland Park, MI	2.0	1.0	900	$825	$0.92	44d	1	0.31mi
101 Colorado St Unit NA Highland Park, MI	4.0	1.5	1695	$1,780	$1.05	0d	1	0.53mi
168 Beresford St Highland Park, MI	4.0	1.0	1541	$1,475	$0.96	18d	1	0.60mi
165 Rhode Island St Highland Park, MI	4.0	1.5	1639	$1,200	$0.73	18d	1	0.67mi
1926 Clements St Unit 1926 Detroit, MI	3.0	1.0	1150	$1,250	$1.09	20d	1	0.82mi
1926 Clements St Detroit, MI	3.0	1.0	1150	$1,150	$1.00	5d	1	0.82mi
520 Englewood St Detroit, MI	4.0	1.5	1086	$1,725	$1.59	25d	1	0.99mi
2285 Cortland St Detroit, MI	2.0	1.0	900	$1,000	$1.11	17d	1	1.06mi
1427 Calvert Ave Detroit, MI	3.0	1.0	1100	$1,750	$1.59	44d	1	1.06mi
1427 Calvert Ave Detroit, MI	3.0	1.0	1100	$1,850	$1.68	25d	1	1.06mi
2023 Tuxedo St Detroit, MI	2.0	1.0	950	$1,050	$1.11	25d	1	1.09mi
242 Ferris St Highland Park, MI	3.0	1.0	1192	$1,275	$1.07	0d	1	1.14mi
326 Eason St Highland Park, MI	3.0	1.0	1256	$1,300	$1.04	18d	1	1.15mi
2474 Fullerton St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	15d	1	1.17mi
9844 Woodrow Wilson St Detroit, MI	3.0	1.0	1187	$1,300	$1.10	13d	1	1.18mi
101 Stevens St Highland Park, MI	3.0	1.5	1152	$1,600	$1.39	18d	1	1.19mi
613 Belmont St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	18d	1	1.23mi
1929 Calvert Ave Unit 2 Detroit, MI	3.0	1.0	1414	$1,199	$0.85	15d	1	1.24mi
2045 Calvert St Detroit, MI	2.0	2.0	1400	$1,600	$1.14	44d	1	1.31mi
2638 Richton St Unit 2638 Richton Upper Detroit, MI	2.0	1.0	1000	$900	$0.90	44d	1	1.38mi
2676 Sturtevant St Unit 1 Detroit, MI	2.0	1.0	1000	$1,000	$1.00	25d	1	1.38mi
505 Westminster St Detroit, MI	3.0	1.0	1700	$1,400	$0.82	18d	1	1.39mi
9429 Brush St Unit 1B Detroit, MI	2.0	1.0	1500	$1,523	$1.02	44d	1	1.43mi
70 Clairmount Ave Unit 2B Detroit, MI	2.0	1.0	955	$1,400	$1.47	3d	1	1.45mi
156 Leicester Ct Apt 2 Detroit, MI	3.0	1.0	1000	$1,250	$1.25	44d	1	1.47mi
17550 2nd Ave Detroit, MI	2.0	1.0	1350	$1,150	$0.85	18d	1	1.48mi

Listing history 16 events

1. 2026-06-21
   days on market $49,500 Active 35 DOM
2. 2026-06-18
   days on market $49,500 Active 32 DOM
3. 2026-06-17
   days on market $49,500 Active 31 DOM
4. 2026-06-16
   days on market $49,500 Active 30 DOM
5. 2026-06-15
   days on market $49,500 Active 29 DOM
6. 2026-06-13
   days on market $49,500 Active 27 DOM
7. 2026-06-09
   days on market $49,500 Active 23 DOM
8. 2026-06-08
   days on market $49,500 Active 22 DOM
9. 2026-06-07
   days on market $49,500 Active 21 DOM
10. 2026-06-04
    days on market $49,500 Active 18 DOM
11. 2026-06-03
    days on market $49,500 Active 17 DOM
12. 2026-06-02
    days on market $49,500 Active 16 DOM
13. 2026-06-01
    days on market $49,500 Active 15 DOM
14. 2026-05-31
    days on market $49,500 Active 14 DOM
15. 2026-05-18
    listed $49,500 Active
16. 2026-05-17
    listed $49,500 Active 1099-char remark

    Show marketing remark (1099 chars)

    This “very large” Colonial offers enormous potential for investors or homeowners looking for their next project. Recently and thoroughly cleaned, the property now provides a fresh canvas ideal for a flip, rental investment, or long-term residence. The main level features a spacious living room and dining area with decent hardwood flooring throughout, along with a traditional-sized kitchen and a three-season room located just off the kitchen - perfect for additional entertaining or relaxation space. Upstairs includes three generously sized bedrooms, a full bathroom, and a large attic area offering additional storage or possible future expansion opportunities. The partially finished basement includes an updated water meter and added usable space. The garage has recently been torn down, creating an expansive backyard with endless possibilities for landscaping, parking, recreation, or future additions. Seller is motivated and willing to consider all reasonable offers. Great opportunity to unlock the value and potential of this classic Colonial property.

ⓘ 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: $788 · $66/mo
• Projected year-2 tax: $788 · $66/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 · 14 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: $16,724
• − Mortgage interest: −$2,773
• − Property taxes: −$788
• − Insurance: −$248
• − Repairs & maintenance: −$1,338
• − Management: −$1,338
• − Depreciation: −$1,440
• Taxable income: $8,799
• Est. tax owed @ 24.0%: −$2,112
• After-tax cash flow: $6,949/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
• City population: 572,865
• 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

2 events — show timeline

• 2026-05-18 Listed $49,500 REALCOMP
• 2026-05-17 Listed $49,500 MiRealSource-MiMLS

Property tax history

-0.8%/yr

Latest (2025): $788 · +2.5% YoY. Source: county tax records.