1053 Wayburn St · Grosse Pointe Park, MI 48230

$194,900

5 bd · 1.0 ba · 1,332 sqft · SingleFamily public records · 12 Days on market

Built 1921 4,792 sqft lot $146/sqft · 19% below area Est $278k · 30% under

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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 +28.7/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.0/10.0
• Schools +5.7/10.0
• 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

Hard to find 5 bedroom opportunity that is priced to sell in Grosse Pointe Park. This bungalow is conveniently located in the charming West Park neighborhood near award-winning schools, and very walkable to multiple business & dining opportunities in the vibrant social district. Hardwood floors present throughout the lower floor, which features three bedrooms & one full bathroom. Meanwhile the upper floor offers two additional bedrooms, central living area, and rear balcony. Additional features include a very functional layout and convenient off-street parking. Additional half bath, wet bar, and ample storage in the basement. Two resident-only waterfront parks help to complete this truly charming home!

Key facts

• 4,792 sq ft lot
• 2 garage spots
• Community pool

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $650 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• Cap rate 10.3% vs local median 2.4% in Grosse Pointe 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 84/100 on livability (#36 in MI, #727 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: cost of living D+, 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: 90 active listings in the ZIP; high-income renter base; 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 $1k of loan paydown is wiped out by about $6k 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 $55k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 12 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 1921 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $194,900

Questions for the listing agent

1. Built in 1921 — 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: 1.20% ✓
• Cap rate: 10.30%
• Cash-on-cash: 14.30%
• DSCR: 1.64
• GRM: 6.9

CMA / ARV

• ARV (median comp): $277,500
• List price: $194,900
• Delta: -29.77%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1315 Newport St	0.46mi	4/1.0 (-1)	1,364 (+2%)	0mo	$10,000	$7	69
1060 Chalmers St	0.33mi	4/1.5 (-1)	1,368 (+3%)	8mo	$36,890	$27	67
1099 Beaconsfield Ave	0.21mi	5/2.0	1,442 (+8%)	20mo	$242,000	$168	56
1330 Beaconsfield St	0.49mi	4/1.0 (-1)	1,144 (-14%)	0mo	$285,000	$249	48
1429 Maryland St	0.60mi	4/2.0 (-1)	1,512 (+14%)	0mo	$270,000	$179	40

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: 4.6%
• Equity multiple: 1.18×
• Total profit: $9,777
• Equity at exit: $29,060

10-year hold

• IRR: 14.1%
• Equity multiple: 2.13×
• Total profit: $61,619
• Equity at exit: $16,851

Cash invested: $54,572 (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 48230

• Active inventory: 90
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,343 medium
• Mortgage (P&I): −$1,022
• Tax from tax record: −$98 /mo · $1,174/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$492
• Net cashflow: $650

Break-even live

Break-even rent $1,520

Max offer price $194,900

Occupancy floor 67%

Sensitivity live

Price	-10% $761	-5% $705	+0% $650	+5% $595	+10% $540
Rent	-10% $465	-5% $558	+0% $650	+5% $743	+10% $835
Rate	-1.0pp $748	-0.5pp $700	base $650	+0.5pp $600	+1.0pp $548

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: $48,725
• Closing costs: $5,847
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-04
   status Pending 723-char remark

   Show marketing remark (723 chars)

   Hard to find 5 bedroom opportunity that is priced to sell in Grosse Pointe Park. This bungalow is conveniently located in the charming West Park neighborhood near award-winning schools, and very walkable to multiple business & dining opportunities in the vibrant social district. Hardwood floors present throughout the lower floor, which features three bedrooms & one full bathroom. Meanwhile the upper floor offers two additional bedrooms, central living area, and rear balcony. Additional features include a very functional layout and convenient off-street parking. Additional half bath, wet bar, and ample storage in the basement. Two resident-only waterfront parks help to complete this truly charming home!

2. 2026-05-04
   status Pending 723-char remark

   Show marketing remark (723 chars)

   Hard to find 5 bedroom opportunity that is priced to sell in Grosse Pointe Park. This bungalow is conveniently located in the charming West Park neighborhood near award-winning schools, and very walkable to multiple business & dining opportunities in the vibrant social district. Hardwood floors present throughout the lower floor, which features three bedrooms & one full bathroom. Meanwhile the upper floor offers two additional bedrooms, central living area, and rear balcony. Additional features include a very functional layout and convenient off-street parking. Additional half bath, wet bar, and ample storage in the basement. Two resident-only waterfront parks help to complete this truly charming home!

3. 2026-04-23
   listed $194,900 Active 723-char remark

   Show marketing remark (723 chars)

   Hard to find 5 bedroom opportunity that is priced to sell in Grosse Pointe Park. This bungalow is conveniently located in the charming West Park neighborhood near award-winning schools, and very walkable to multiple business & dining opportunities in the vibrant social district. Hardwood floors present throughout the lower floor, which features three bedrooms & one full bathroom. Meanwhile the upper floor offers two additional bedrooms, central living area, and rear balcony. Additional features include a very functional layout and convenient off-street parking. Additional half bath, wet bar, and ample storage in the basement. Two resident-only waterfront parks help to complete this truly charming home!

4. 2026-04-23
   listed $194,900 Active 723-char remark

   Show marketing remark (723 chars)

   Hard to find 5 bedroom opportunity that is priced to sell in Grosse Pointe Park. This bungalow is conveniently located in the charming West Park neighborhood near award-winning schools, and very walkable to multiple business & dining opportunities in the vibrant social district. Hardwood floors present throughout the lower floor, which features three bedrooms & one full bathroom. Meanwhile the upper floor offers two additional bedrooms, central living area, and rear balcony. Additional features include a very functional layout and convenient off-street parking. Additional half bath, wet bar, and ample storage in the basement. Two resident-only waterfront parks help to complete this truly charming home!

5. 2026-04-21
   historical $194,900 723-char remark

   Show marketing remark (723 chars)

   Hard to find 5 bedroom opportunity that is priced to sell in Grosse Pointe Park. This bungalow is conveniently located in the charming West Park neighborhood near award-winning schools, and very walkable to multiple business & dining opportunities in the vibrant social district. Hardwood floors present throughout the lower floor, which features three bedrooms & one full bathroom. Meanwhile the upper floor offers two additional bedrooms, central living area, and rear balcony. Additional features include a very functional layout and convenient off-street parking. Additional half bath, wet bar, and ample storage in the basement. Two resident-only waterfront parks help to complete this truly charming home!

ⓘ 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: $1,174 · $98/mo
• Projected year-2 tax: $2,088 · $174/mo
• Expected delta: +$914/yr (+$76/mo · 77.9%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 28% 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: $28,121
• − Mortgage interest: −$10,917
• − Property taxes: −$1,174
• − Insurance: −$974
• − Repairs & maintenance: −$2,250
• − Management: −$2,250
• − Depreciation: −$5,670
• Taxable income: $4,886
• Est. tax owed @ 24.0%: −$1,173
• After-tax cash flow: $6,630/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 Park

• Score: 84/100
• State rank: #36
• US rank: #727

Category grades

Amenities F Commute A+ Cost of living D+ 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 Park, MI
• County: Wayne County · 1,562,939 people
• City population: 17,174
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 17,174
• Household income: $137,310
• Rent vs Own: 21.5% rent · 78.5% own
• Severe rent burden: 294.0

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 White (85%)
• Race & ethnicity: White 85% Two or more races 6% Black 4% Hispanic / Latino 2% Asian 1%
• Common ancestry: Romanian 13% Slovak 6% Lithuanian 5%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Other Indo-European 3% Spanish 2% German/W. Germanic 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: ▼ -357.44%
• Current HPI: 185.478
• 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

• 2026-05-04 Pending — MiRealSource-MiMLS
• 2026-05-04 Pending — REALCOMP
• 2026-04-23 Listed $194,900 MiRealSource-MiMLS
• 2026-04-23 Listed $194,900 REALCOMP
• 2026-04-21 Coming Soon $194,900 MiRealSource-MiMLS

Property tax history

-5.1%/yr

Latest (2025): $1,174 · -51.4% YoY. Source: county tax records.