36 Louise St · Highland Park, MI 48203

$59,900

4 bd · 1.5 ba · 2,339 sqft · SingleFamily public records · 8 Days on market

Built 1920 5,663 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Contractor and Investors dream! Buyers targeting Highland Park's historic market before values rise further and able to add sweat equity. Featuring a solid Brick home with spacious floorplan, property offers strong potential for rental income, resale, or portfolio expansion in a market where affordable inventory continues to tighten. Ideal for: • Investors seeking a clean rental opportunity • Cash buyers wanting a smooth, quick-close transaction Key Highlights: • Strong rental and resale demand in the surrounding area • Convenient access to Detroit's historic neighborhoods and major corridors • Seller motivated for qualified cash buyers ready to move quickly

Key facts

• 5,663 sq ft lot
• Garage
• Built 1920

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public sewer; No water source specified
• Home design: Single-family residence; Residential property; Ground-level entry with steps
• Construction: Brick construction; Block foundation; Above-grade finished living area reported
• Exterior features: Paved road access; Lot approximately 0.13 acres (45 x 125)

Interior

• Bedrooms: Total of 6 rooms (bedroom count not specified)
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Steam heating; No cooling
• Interior features: Fireplace in the great room; Unfinished basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $821 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Cap rate 22.7% 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: 216 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $1,596/mo this rent would consume 50% 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 $414 of loan paydown is wiped out by about $2k 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 $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 12y 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $59,900

Questions for the listing agent

1. Built in 1920 — 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: 2.67% ✓
• Cap rate: 22.74%
• Cash-on-cash: 58.74%
• DSCR: 3.61
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $226,883
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
36 Louise St	0.00mi	4/2.5	2,339 (0%)	1mo	$58,000	$25	95
54 Eason St	0.08mi	4/2.0	2,441 (+4%)	23mo	$180,000	$74	68
55 Moss St	0.17mi	4/1.5	2,094 (-10%)	10mo	$204,000	$97	66
203 Puritan St	0.39mi	5/1.5 (+1)	2,266 (-3%)	19mo	$145,000	$64	56
114 Puritan St	0.25mi	4/2.5	2,528 (+8%)	23mo	$255,000	$101	52
1920 W Mcnichols Rd	0.71mi	3/2.5 (-1)	2,637 (+13%)	20mo	$360,000	$137	20

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: 57.4%
• Equity multiple: 3.54×
• Total profit: $42,625
• Equity at exit: $8,931

10-year hold

• IRR: 62.3%
• Equity multiple: 7.24×
• Total profit: $104,614
• Equity at exit: $5,179

Cash invested: $16,772 (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: 3.1×

Monthly cashflow live

• Estimated rent: $1,596 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$101 /mo · $1,213/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $821

Break-even live

Break-even rent $557

Max offer price $59,900

Occupancy floor 44%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
106 Geneva St Highland Park, MI	5.0	1.0	1920	$1,450	$0.76	10d	1	0.16mi
16503 Linwood St Detroit, MI	4.0	2.0	2415	$1,800	$0.75	3d	1	1.16mi
15537 Normandy St Detroit, MI	3.0	1.0	2626	$1,400	$0.53	43d	1	1.26mi
101 Colorado St Unit NA Highland Park, MI	4.0	1.5	1695	$1,500	$0.88	24d	1	1.43mi

Listing history 5 events

1. 2026-05-20
   listed $59,900 Active 756-char remark

   Show marketing remark (756 chars)

   Contractor and Investors dream! Buyers targeting Highland Park's historic market before values rise further and able to add sweat equity. Featuring a solid Brick home with spacious floorplan, property offers strong potential for rental income, resale, or portfolio expansion in a market where affordable inventory continues to tighten. Ideal for: • Investors seeking a clean rental opportunity • Cash buyers wanting a smooth, quick-close transaction Key Highlights: • Strong rental and resale demand in the surrounding area • Convenient access to Detroit's historic neighborhoods and major corridors • Seller motivated for qualified cash buyers ready to move quickly

2. 2026-05-20
   listed $59,900 Active

   Show marketing remark (756 chars)

   Contractor and Investors dream! Buyers targeting Highland Park's historic market before values rise further and able to add sweat equity. Featuring a solid Brick home with spacious floorplan, property offers strong potential for rental income, resale, or portfolio expansion in a market where affordable inventory continues to tighten. Ideal for: • Investors seeking a clean rental opportunity • Cash buyers wanting a smooth, quick-close transaction Key Highlights: • Strong rental and resale demand in the surrounding area • Convenient access to Detroit's historic neighborhoods and major corridors • Seller motivated for qualified cash buyers ready to move quickly

3. 2026-05-16
   historical $59,900 756-char remark

   Show marketing remark (756 chars)

   Contractor and Investors dream! Buyers targeting Highland Park's historic market before values rise further and able to add sweat equity. Featuring a solid Brick home with spacious floorplan, property offers strong potential for rental income, resale, or portfolio expansion in a market where affordable inventory continues to tighten. Ideal for: • Investors seeking a clean rental opportunity • Cash buyers wanting a smooth, quick-close transaction Key Highlights: • Strong rental and resale demand in the surrounding area • Convenient access to Detroit's historic neighborhoods and major corridors • Seller motivated for qualified cash buyers ready to move quickly

4. 2015-03-31
   historical
5. 2014-10-21
   listed $700

ⓘ 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: $1,213 · $101/mo
• Projected year-2 tax: $1,213 · $101/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 ≥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: $19,157
• − Mortgage interest: −$3,355
• − Property taxes: −$1,213
• − Insurance: −$300
• − Repairs & maintenance: −$1,533
• − Management: −$1,533
• − Depreciation: −$1,743
• Taxable income: $9,482
• Est. tax owed @ 24.0%: −$2,276
• After-tax cash flow: $7,577/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

5 events — show timeline

• 2026-05-20 Listed $59,900 MiRealSource-MiMLS
• 2026-05-20 Listed $59,900 REALCOMP
• 2026-05-16 Coming Soon $59,900 MiRealSource-MiMLS
• 2015-03-31 Listing Removed — MiRealSource-MiMLS
• 2014-10-21 Listed $700 MiRealSource-MiMLS

Property tax history

-4.1%/yr

Latest (2025): $1,213 · -18.5% YoY. Source: county tax records.