19285 Rockcastle St · Harper Woods, MI 48225

$79,900

2 bd · 1.0 ba · 1,053 sqft · Condo public records · 45 Days on market

Built 1957 $210/mo HOA · 16% of rent

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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
• Rent growth +3.8/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 2 bedroom, 1 bath upper level condominium in Harper Woods is located at Moross and I-94 with easy access to downtown Detroit, and is approximately 1 mile from Henry Ford Hospital (the former St. John Hospital). Cathedral ceilings, together with large windows with vertical blinds, gives it a spacious and airy feeling. Fully carpeted, with new windows in 2021. Kitchen includes refrigerator, microwave, gas range and dishwasher. The private basement has washer/dryer hookups and offers plenty of storage space. The condominium association fee of $210 per month includes water. Please note no pets are allowed. Certificate of Occupancy from the City of Harper Woods has already been received for this unit. Occupancy at closing. This unit includes one assigned parking space at the rear of the building. Seller is offering a $500 concession to buyer for the paint of their choice.

Key facts

• Large windows
• Cathedral ceilings
• New windows

Tags

• UPPER LEVEL CONDOMINIUM
• CATHEDRAL CEILINGS
• LARGE WINDOWS
• NEW WINDOWS
• KITCHEN INCLUDES REFRIGERATOR
• KITCHEN INCLUDES MICROWAVE

Property features AI

Finance

• Other: Property type: Residential condominium
• HOA & community: Homeowners association with a $210 monthly fee; HOA fee includes water

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Condominium; Two-level unit; Ground-level entry
• Construction: Brick construction; Block foundation; Built with an asphalt roof
• Exterior features: Asphalt roof; Paved road access

Interior

• Kitchen: Dishwasher; Free-standing electric oven; Free-standing gas range; Free-standing refrigerator; Garbage disposal
• Bedrooms: Total rooms: 5
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating (natural gas)
• Interior features: Dishwasher; Garbage disposal; Free-standing electric oven; Free-standing gas range; Free-standing refrigerator; Gas water heater; Unfinished basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $80k.

Deal economics

• At list price, monthly cash flow is $320 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.1% vs local median 7.7% in Harper Woods — 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 (#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 20d 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 $552 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 + 5.1% rent growth), your $22k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 27y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 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 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.62% ✓
• Cap rate: 11.09%
• Cash-on-cash: 17.15%
• DSCR: 1.76
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.1% rent growth · sell at horizon

5-year hold

• IRR: 11.3%
• Equity multiple: 1.46×
• Total profit: $10,308
• Equity at exit: $11,913

10-year hold

• IRR: 22.2%
• Equity multiple: 3.13×
• Total profit: $47,569
• Equity at exit: $6,908

Cash invested: $22,372 (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: 5.2×

Monthly cashflow live

• Estimated rent: $1,291 high
• Mortgage (P&I): −$419
• Tax from tax record: −$38 /mo · $453/yr
• Insurance: −$33
• HOA: −$210
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $320

Break-even live

Break-even rent $886

Max offer price $79,900

Occupancy floor 70%

Sensitivity live

Price	-10% $365	-5% $342	+0% $320	+5% $297	+10% $274
Rent	-10% $218	-5% $269	+0% $320	+5% $371	+10% $422
Rate	-1.0pp $360	-0.5pp $340	base $320	+0.5pp $299	+1.0pp $278

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19203 Edgefield St Harper Woods, MI	2.0	1.0	1100	$1,100	$1.00	26d	1	0.06mi
21301 Kingsville St Apt 108 Harper Woods, MI	1.0	1.0	700	$900	$1.29	5d	1	0.18mi
20926 Moross Rd Grosse Pointe, MI	3.0	1.0	1200	$1,350	$1.12	45d	1	0.21mi
21401 Kingsville St Harper Woods, MI	2.0	1.0	944	$1,200	$1.27	26d	1	0.25mi
19168 Berden St Grosse Pointe, MI	3.0	1.0	1200	$1,800	$1.50	0d	1	0.37mi
6301 Lodewyck St Detroit, MI	3.0	1.0	1084	$1,300	$1.20	14d	1	0.47mi
6301 Lodewyck St Detroit, MI	3.0	1.0	1084	$1,300	$1.20	0d	1	0.47mi
17720 Chester St Detroit, MI	2.0	1.0	986	$1,250	$1.27	45d	1	0.47mi
17710 Chester St Detroit, MI	2.0	1.0	984	$1,250	$1.27	45d	1	0.47mi
10542 Lanark St Detroit, MI	3.0	1.0	1023	$1,250	$1.22	45d	1	0.52mi
10870 Marne St Detroit, MI	3.0	1.0	1156	$1,100	$0.95	19d	1	0.54mi
6175 Marseilles St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	45d	1	0.55mi
10985 Peerless St Detroit, MI	3.0	1.0	1000	$1,364	$1.36	7d	1	0.60mi
19982 McCormick St Detroit, MI	3.0	1.0	866	$1,200	$1.39	5d	1	0.62mi
5915 Farmbrook St Detroit, MI	3.0	1.5	1000	$1,250	$1.25	26d	1	0.65mi
6325 Neff Ave Detroit, MI	3.0	1.0	1000	$1,500	$1.50	4d	1	0.66mi
6181 Neff Ave Detroit, MI	3.0	1.0	1102	$1,299	$1.18	19d	1	0.70mi
6154 Woodhall St Detroit, MI	2.0	1.0	1136	$1,000	$0.88	45d	1	0.74mi
19000 Chandler Park Dr Grosse Pointe, MI	2.0	1.0	1374	$2,195	$1.60	0d	1	0.75mi
19000 Chandler Park Dr Grosse Pointe, MI	2.0	1.0	1374	$2,300	$1.67	1d	1	0.75mi
22144 Moross Rd Grosse Pointe, MI	2.0	1.0	819	$1,350	$1.65	4d	1	0.77mi
22144 Moross Rd Grosse Pointe, MI	2.0	1.0	819	$1,350	$1.65	19d	1	0.77mi
22148 Moross Rd Grosse Pointe, MI	2.0	1.0	819	$1,250	$1.53	4d	1	0.78mi
22148 Moross Rd Grosse Pointe, MI	2.0	1.0	819	$1,250	$1.53	19d	1	0.78mi
6304 Bluehill St Detroit, MI	3.0	1.0	1088	$1,500	$1.38	45d	1	0.79mi
19661 Kenosha St Harper Woods, MI	3.0	2.0	1000	$1,400	$1.40	26d	1	0.80mi
19639 Moross Rd Unit 1 Detroit, MI	2.0	1.0	900	$1,100	$1.22	45d	1	0.84mi
5786 Neff Ave Detroit, MI	3.0	1.5	1100	$1,225	$1.11	18d	1	0.85mi
6225 Oldtown St Detroit, MI	3.0	1.0	1330	$1,199	$0.90	19d	1	0.87mi
10692 Meuse St Detroit, MI	3.0	1.0	955	$1,250	$1.31	14d	1	0.87mi
5955 Guilford St Detroit, MI	3.0	1.0	802	$1,400	$1.75	19d	1	0.88mi
19442 Kingsville St Harper Woods, MI	3.0	1.0	1000	$1,500	$1.50	19d	1	0.92mi
19435 McCormick St Detroit, MI	3.0	2.0	1148	$1,300	$1.13	19d	1	0.93mi
10370 Britain St Detroit, MI	3.0	1.0	1100	$1,100	$1.00	45d	1	0.95mi
10400 Britain St Detroit, MI	3.0	1.0	890	$1,100	$1.24	45d	1	0.96mi
9313 Harvard Rd Detroit, MI	3.0	1.5	1329	$1,200	$0.90	19d	1	0.98mi
5233 Farmbrook St Detroit, MI	3.0	1.0	1449	$1,250	$0.86	0d	1	0.99mi
9241 Boleyn St Detroit, MI	3.0	1.0	1350	$1,350	$1.00	45d	1	1.00mi
10177 Boleyn St Detroit, MI	3.0	1.0	767	$1,250	$1.63	45d	1	1.07mi
10037 Grayton St Detroit, MI	3.0	1.0	1000	$1,400	$1.40	5d	1	1.10mi

HOA detail condo

• Monthly dues: $210 · $2,520/yr
• Likely covers: watergasparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 36 events

1. 2026-06-21
   days on market $79,900 Active 45 DOM
2. 2026-06-18
   days on market $79,900 Active 42 DOM
3. 2026-06-17
   days on market $79,900 Active 41 DOM
4. 2026-06-16
   days on market $79,900 Active 40 DOM
5. 2026-06-15
   days on market $79,900 Active 39 DOM
6. 2026-06-13
   days on market $79,900 Active 37 DOM
7. 2026-06-13
   days on market $79,900 Active 36 DOM
8. 2026-06-09
   days on market $79,900 Active 33 DOM
9. 2026-06-08
   days on market $79,900 Active 32 DOM
10. 2026-06-07
    days on market $79,900 Active 31 DOM
11. 2026-06-04
    days on market $79,900 Active 28 DOM
12. 2026-06-03
    days on market $79,900 Active 27 DOM
13. 2026-06-02
    days on market $79,900 Active 26 DOM
14. 2026-06-01
    days on market $79,900 Active 25 DOM
15. 2026-05-31
    days on market $79,900 Active 24 DOM
16. 2026-05-07
    listed $84,900 Active

    Show marketing remark (884 chars)

    This 2 bedroom, 1 bath upper level condominium in Harper Woods is located at Moross and I-94 with easy access to downtown Detroit, and is approximately 1 mile from Henry Ford Hospital (the former St. John Hospital). Cathedral ceilings, together with large windows with vertical blinds, gives it a spacious and airy feeling. Fully carpeted, with new windows in 2021. Kitchen includes refrigerator, microwave, gas range and dishwasher. The private basement has washer/dryer hookups and offers plenty of storage space. The condominium association fee of $210 per month includes water. Please note no pets are allowed. Certificate of Occupancy from the City of Harper Woods has already been received for this unit. Occupancy at closing. This unit includes one assigned parking space at the rear of the building. Seller is offering a $500 concession to buyer for the paint of their choice.

17. 2026-05-07
    listed $84,900 Active 884-char remark

    Show marketing remark (884 chars)

    This 2 bedroom, 1 bath upper level condominium in Harper Woods is located at Moross and I-94 with easy access to downtown Detroit, and is approximately 1 mile from Henry Ford Hospital (the former St. John Hospital). Cathedral ceilings, together with large windows with vertical blinds, gives it a spacious and airy feeling. Fully carpeted, with new windows in 2021. Kitchen includes refrigerator, microwave, gas range and dishwasher. The private basement has washer/dryer hookups and offers plenty of storage space. The condominium association fee of $210 per month includes water. Please note no pets are allowed. Certificate of Occupancy from the City of Harper Woods has already been received for this unit. Occupancy at closing. This unit includes one assigned parking space at the rear of the building. Seller is offering a $500 concession to buyer for the paint of their choice.

18. 2009-01-03
    historical
19. 2009-01-03
    historical
20. 2008-09-24
    listed $38,000
21. 2008-09-24
    listed $45,000
22. 2007-12-31
    historical
23. 2007-11-16
    historical
24. 2007-05-15
    listed $64,800
25. 2007-05-11
    listed $64,500
26. 2007-02-15
    historical
27. 2006-07-07
    listed $37,500
28. 2005-11-30
    historical
29. 2005-05-07
    listed $95,000
30. 2004-12-09
    soldstatus $95,000
31. 1999-11-18
    soldstatus $63,000
32. 1999-11-11
    soldstatus $142,000
33. 1999-09-17
    soldstatus $63,000
34. 1999-07-21
    historical
35. 1999-06-22
    listed $64,899
36. 1997-06-19
    soldstatus $44,000

ⓘ 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: $453 · $38/mo
• Projected year-2 tax: $842 · $70/mo
• Expected delta: +$389/yr (+$32/mo · 85.9%)

ⓘ 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,489
• − Mortgage interest: −$4,476
• − Property taxes: −$453
• − Insurance: −$400
• − Repairs & maintenance: −$1,239
• − Management: −$1,239
• − HOA: −$2,520
• − Depreciation: −$2,324
• Taxable income: $2,839
• Est. tax owed @ 24.0%: −$681
• After-tax cash flow: $3,155/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

+93.0% since first listed

21 events — show timeline

• 2026-05-07 Listed $84,900 MiRealSource-MiMLS
• 2026-05-07 Listed $84,900 REALCOMP
• 2009-01-03 Listing Removed — MiRealSource-MiMLS
• 2009-01-03 Listing Removed — REALCOMP
• 2008-09-24 Listed $45,000 MiRealSource-MiMLS
• 2008-09-24 Listed $38,000 REALCOMP
• 2007-12-31 Listing Removed — REALCOMP
• 2007-11-16 Listing Removed — MiRealSource-MiMLS
• 2007-05-15 Listed $64,800 REALCOMP
• 2007-05-11 Listed $64,500 MiRealSource-MiMLS
• 2007-02-15 Listing Removed — MiRealSource-MiMLS
• 2006-07-07 Listed $37,500 MiRealSource-MiMLS
• 2005-11-30 Listing Removed — MiRealSource-MiMLS
• 2005-05-07 Listed $95,000 MiRealSource-MiMLS
• 2004-12-09 Sold (Public Records) $95,000 Public Records
• 1999-11-18 Sold (Public Records) $63,000 Public Records
• 1999-11-11 Sold (Public Records) $142,000 Public Records
• 1999-09-17 Sold (MLS) $63,000 MiRealSource-MiMLS
• 1999-07-21 Listing Removed — MiRealSource-MiMLS
• 1999-06-22 Listed $64,899 MiRealSource-MiMLS
• 1997-06-19 Sold (Public Records) $44,000 Public Records

Property tax history

-2.9%/yr

Latest (2025): $453 · -46.7% YoY. Source: county tax records.