1618 Anita Ave · Grosse Pointe Woods, MI 48236

$235,000

4 bd · 2.0 ba · 1,400 sqft · SingleFamily public records · 11 Days on market

Built 1942 5,227 sqft lot Est $274k · 14% under

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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 +20.2/30.0
• ARV discount +14.0/15.0
• DSCR +6.4/10.0
• Schools +5.7/10.0
• 1% rule +4.8/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity abounds. Located within walking distance of shops, restaurants, library, & more. 1618 Anita offers many unique possibilities. This traditional brick home has been owned by the same family since it was constructed. Because of its layout & features this “income bungalow” can be freshened up to highlight the vintage charm of its original kitchens and bathrooms, or it could be renovated into a spectacular multifamily dwelling. Alternatively, it may make a substantial single-family conversion given the great price point. The home itself features a vestibule allowing entry access for each unit. The lower unit has a large living room w/ hardwood floors, high ceilings, & a fireplace. There is an ample formal dining room, an eat in kitchen that is bright & charming. The original ceramic tiled bath is vintage cool. Both bedrooms of the lower unit also feature oak hardwood floors. The upper unit is spacious, flexible in floorplan, & has many great features. There is an original ornamental fireplace in the living room, along w/ bright southern exposure. The especially spacious kitchen has a peek-a-boo cover for the stove & sink, built in ironing board, & eating space. There are 2 bedroom & a bonus room (office?). Here we also find our second original ceramic tiled full bath. There is also a wonderful enclosed balcony with terrific neighborhood views. Underneath it all is an unfinished basement w/ lots of storage, open utility access, & more. The front yard is landscaped for color throughout the season, the back yard is large, green, & open. This property is being sold “as-is”. Disclosure exempt. Buyer to assume city repairs. (Call LB). Possession will be given @ closing.

Key facts

• Enclosed balcony
• Spacious kitchen
• Large living room

Tags

• WALKING DISTANCE TO SHOPS
• LARGE LIVING ROOM
• ORIGINAL CERAMIC TILED BATH
• ORIGINAL ORNAMENTAL FIREPLACE
• SPACIOUS KITCHEN
• ENCLOSED BALCONY

Property features AI

Finance

• Other: Listing broker: RE/MAX First
• Financial info: No investor-specific income/expense details provided
• HOA & community: Sidewalks in the community; Pets allowed

Exterior

• Parking: On-street parking
• Security: No security features provided
• Utilities: Public water; Public sewer
• Home design: Multi-family residential income property; Two-story building; Brick construction; Block foundation
• Construction: Brick exterior; Asphalt roof; Block foundation
• Exterior features: Enclosed porch; Patio; Porch; Back yard fencing; Asphalt roof; Paved road access; Lot dimensions approximately 40 x 128 (0.12 acre)

Interior

• Kitchen: No specific kitchen appliance list provided
• Bedrooms: Two 2-bedroom units
• Flooring: No flooring details provided
• Bathrooms: Two full bathrooms (one in each unit)
• Heating & cooling: Forced-air heating with natural gas; No cooling
• Interior features: Gas water heater; Full, unfinished basement; Interior lighting
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $297 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $231k (1.7% below list).
• Recommended offer: $231k (1.7% below list) — sets the bar for 1% rule.
• Cap rate 7.8% vs local median 3.0% in Grosse Pointe 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 84/100 on livability (#34 in MI, #643 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: health & safety D+, amenities F.
• Grosse Pointe Public Schools (suburban): math 56% / reading 68% proficiency, ranked #24 of 540 in MI (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 13% free/reduced lunch — higher-income household profile.
• Market conditions: 159 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 1942 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $231,011 (1.7% below list)

Questions for the listing agent

1. Built in 1942 — 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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: 0.98% ✗
• Cap rate: 7.81%
• Cash-on-cash: 5.42%
• DSCR: 1.24
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $274,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1528 Roslyn Rd	0.27mi	4/2.0	1,373 (-2%)	1mo	$275,000	$200	83
1809 Roslyn Rd	0.29mi	3/2.0 (-1)	1,363 (-3%)	3mo	$270,000	$198	75
1463 Hollywood Ave	0.18mi	3/1.5 (-1)	1,506 (+8%)	4mo	$330,000	$219	69
1992 Lennon St	0.42mi	3/1.0 (-1)	1,400 (0%)	4mo	$275,000	$196	68
1866 Country Club Rd	0.53mi	3/1.5 (-1)	1,367 (-2%)	1mo	$299,000	$219	64
1741 Brys Dr	0.31mi	3/1.5 (-1)	1,550 (+11%)	2mo	$221,000	$143	59
2202 Hollywood Ave	0.56mi	3/1.0 (-1)	1,340 (-4%)	0mo	$207,000	$154	57
1218 Roslyn Rd	0.45mi	4/3.0	1,552 (+11%)	0mo	$325,000	$209	56
22050 Mauer St	0.68mi	4/2.0	1,500 (+7%)	1mo	$260,000	$173	56
1988 Hollywood Ave	0.36mi	3/2.0 (-1)	1,600 (+14%)	2mo	$250,000	$156	53
21720 Chalon St	0.75mi	3/1.5 (-1)	1,333 (-5%)	1mo	$260,000	$195	49
22150 Mauer St	0.64mi	3/1.5 (-1)	1,229 (-12%)	1mo	$238,000	$194	42

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: -7.9%
• Equity multiple: 0.71×
• Total profit: $-19,163
• Equity at exit: $35,039

10-year hold

• IRR: 1.6%
• Equity multiple: 1.12×
• Total profit: $7,605
• Equity at exit: $20,319

Cash invested: $65,800 (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 48236

• Active inventory: 159
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,310 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$197 /mo · $2,368/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$485
• Net cashflow: $297

Break-even live

Break-even rent $1,934

Max offer price $235,000

Occupancy floor 82%

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1992 Hawthorne Rd Grosse Pointe Woods, MI	3.0	2.0	1071	$2,100	$1.96	10d	1	0.35mi
1150 Anita Ave Grosse Pointe Woods, MI	3.0	1.5	1129	$2,600	$2.30	10d	1	0.44mi
1150 Anita Ave Grosse Pointe Woods, MI	3.0	1.5	1829	$2,600	$1.42	44d	1	0.44mi
1883 Lochmoor Blvd Grosse Pointe Woods, MI	3.0	2.5	1744	$2,900	$1.66	2d	1	0.61mi
20270 Hollywood St Harper Woods, MI	3.0	1.0	1228	$1,650	$1.34	2d	1	1.10mi
22617 Oconnor St Saint Clair Shores, MI	3.0	1.0	923	$2,000	$2.17	2d	1	1.28mi
20015 Lochmoor St Harper Woods, MI	3.0	1.0	1006	$1,500	$1.49	17d	1	1.30mi
20625 Elizabeth St Saint Clair Shores, MI	3.0	2.0	1074	$1,895	$1.76	44d	1	1.38mi

Listing history 3 events

1. 2026-05-31
   status $235,000 Pending 11 DOM
2. 2026-05-18
   listed $235,000 Active

   Show marketing remark (1817 chars)

   Opportunity abounds. Located within walking distance of shops, restaurants, library, & more. 1618 Anita offers many unique possibilities. This traditional brick home has been owned by the same family since it was constructed. Because of its layout & features this “income bungalow” can be freshened up to highlight the vintage charm of its original kitchens and bathrooms, or it could be renovated into a spectacular multifamily dwelling. Alternatively, it may make a substantial single-family conversion given the great price point. The home itself features a vestibule allowing entry access for each unit. The lower unit has a large living room w/ hardwood floors, high ceilings, & a fireplace. There is an ample formal dining room, an eat in kitchen that is bright & charming. The original ceramic tiled bath is vintage cool. Both bedrooms of the lower unit also feature oak hardwood floors. The upper unit is spacious, flexible in floorplan, & has many great features. There is an original ornamental fireplace in the living room, along w/ bright southern exposure. The especially spacious kitchen has a peek-a-boo cover for the stove & sink, built in ironing board, & eating space. There are 2 bedroom & a bonus room (office?). Here we also find our second original ceramic tiled full bath. There is also a wonderful enclosed balcony with terrific neighborhood views. Underneath it all is an unfinished basement w/ lots of storage, open utility access, & more. The front yard is landscaped for color throughout the season, the back yard is large, green, & open. This property is being sold “as-is”. Disclosure exempt. Buyer to assume city repairs. (Call LB). Possession will be given @ closing.

3. 2026-05-18
   listed $235,000 Active 1817-char remark

   Show marketing remark (1817 chars)

   Opportunity abounds. Located within walking distance of shops, restaurants, library, & more. 1618 Anita offers many unique possibilities. This traditional brick home has been owned by the same family since it was constructed. Because of its layout & features this “income bungalow” can be freshened up to highlight the vintage charm of its original kitchens and bathrooms, or it could be renovated into a spectacular multifamily dwelling. Alternatively, it may make a substantial single-family conversion given the great price point. The home itself features a vestibule allowing entry access for each unit. The lower unit has a large living room w/ hardwood floors, high ceilings, & a fireplace. There is an ample formal dining room, an eat in kitchen that is bright & charming. The original ceramic tiled bath is vintage cool. Both bedrooms of the lower unit also feature oak hardwood floors. The upper unit is spacious, flexible in floorplan, & has many great features. There is an original ornamental fireplace in the living room, along w/ bright southern exposure. The especially spacious kitchen has a peek-a-boo cover for the stove & sink, built in ironing board, & eating space. There are 2 bedroom & a bonus room (office?). Here we also find our second original ceramic tiled full bath. There is also a wonderful enclosed balcony with terrific neighborhood views. Underneath it all is an unfinished basement w/ lots of storage, open utility access, & more. The front yard is landscaped for color throughout the season, the back yard is large, green, & open. This property is being sold “as-is”. Disclosure exempt. Buyer to assume city repairs. (Call LB). Possession will be given @ closing.

ⓘ 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: $2,368 · $197/mo
• Projected year-2 tax: $2,993 · $249/mo
• Expected delta: +$626/yr (+$52/mo · 26.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 93% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $27,721
• − Mortgage interest: −$13,164
• − Property taxes: −$2,368
• − Insurance: −$1,175
• − Repairs & maintenance: −$2,218
• − Management: −$2,218
• − Depreciation: −$6,836
• Taxable loss: −$257
• Est. tax savings @ 24.0%: +$62
• After-tax cash flow: $3,630/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: Grosse Pointe Public Schools
• NCES district ID: 2625740
• Math proficiency: 56% ▼ -2.00%
• Reading proficiency: 68% ▲ 2.00%
• Median HH income: $89,975
• Composite: 56.51/100
• National rank: #1152
• State rank: #24 of 540 in MI

Livability — Grosse Pointe Woods

• Score: 84/100
• State rank: #34
• US rank: #643

Category grades

Amenities F Commute A+ Cost of living B Crime A Employment A+ Housing A+ Health & safety D+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grosse Pointe Woods, MI
• City population: 31,383
• Population (ZIP): 31,383

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 White (82%)
• Race & ethnicity: White 82% Black 11% Two or more races 5% Asian 2% Hispanic / Latino 1%
• Common ancestry: Romanian 10% Lithuanian 5% Italian 4%
• Foreign-born: 7% · Canada
• Languages at home: 93% English-only · Other Indo-European 2% 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: ▼ -285.11%
• Current HPI: 181.0475
• Rent YoY: —
• Metro: —
• 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 $235,000 MiRealSource-MiMLS
• 2026-05-18 Listed $235,000 REALCOMP

Property tax history

-3.6%/yr

Latest (2025): $2,368 · -50.8% YoY. Source: county tax records.