2268 Highland St · Detroit, MI 48206

$10,000

3 bd · 1.0 ba · 1,163 sqft · SingleFamily public records · 15 Days on market

Built 1922 3,049 sqft lot $9/sqft · 67% below area

---

Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +3.8/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment Opportunity – Sold As Is. Cash Only. Great potential for investors or rehabbers looking to add value. Property is being sold in its current condition with no repairs or warranties provided by the seller. Serious cash buyers only.

Key facts

• 3,049 sq ft lot
• Built 1922
• Listed 15 days

Property features AI

Finance

• Other: Listing broker: Elite Real Estate Professionals, Inc.
• Financial info: Annual tax approximately $955
• HOA & community: Homeowners association present

Exterior

• Parking: Details not provided
• Security: Details not provided
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two levels; Residential property
• Construction: Built with asphalt construction materials; Above-grade finished area approximately 1,163; Lot approximately 0.07 acres (about 3,049 sq ft)
• Exterior features: Lot in E S MOONS NORWOOD PARK subdivision; Located near 14th and Elmhurst

Interior

• Kitchen: Details not provided
• Bedrooms: Details not provided
• Flooring: Details not provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No cooling
• Interior features: Has basement; Three total rooms
• Laundry & utility: Details not provided

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $10k.

Deal economics

• At list price, monthly cash flow is $946 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $10k).
• Recommended offer: $10k (1.5% below list) — sets the bar for market timing.
• Cap rate 119.8% vs local median 10.0% in Detroit — 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 (#218 in MI) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment F.
• Detroit Public Schools Community District (urban): math 10% / reading 24% proficiency, ranked #499 of 540 in MI (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 90% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Durfee Elementarymiddle School (593 students, 91% FRL); Central High School (math 24% / reading 24%, grade F, #481 of 713 statewide, top 81%, 353 students, 89% FRL) — zoned schools at 90% FRL track the district average.
• Market conditions: Rents rising fast (+5.2%/yr); 273 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 34% of the median local income ($45k/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 $69 of loan paydown is wiped out by about $300 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 + 5.2% rent growth), your $3k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($10k) 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 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $9,850 (1.5% below list)

Questions for the listing agent

1. Built in 1922 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 12.85% ✓
• Cap rate: 119.82%
• Cash-on-cash: 405.46%
• DSCR: 19.04
• GRM: 0.6

CMA / ARV

• ARV (median comp): $29,898
• List price: $10,000
• Delta: -66.55%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2268 Highland St	0.00mi	3/1.0	1,163 (0%)	0mo	$10,000	$9	100
2509 Richton St	0.26mi	3/1.0	1,114 (-4%)	2mo	$15,000	$13	80
2401 Cortland St	0.14mi	3/1.0	1,176 (+1%)	15mo	$18,000	$15	79
2474 Sturtevant St	0.20mi	3/1.0	1,092 (-6%)	4mo	$28,000	$26	77
2291 Tuxedo St	0.30mi	3/1.5	1,197 (+3%)	4mo	$35,000	$29	76
2420 Monterey St	0.21mi	3/1.0	1,080 (-7%)	14mo	$48,000	$44	67
1689 Tyler St	0.40mi	3/1.5	1,260 (+8%)	6mo	$77,300	$61	60
371 Highland St	0.51mi	4/1.0 (+1)	1,128 (-3%)	14mo	$55,000	$49	55
13141 Montville Pl	0.31mi	4/2.0 (+1)	1,296 (+11%)	15mo	$29,900	$23	45
2505 La Belle St	0.75mi	3/1.0	1,027 (-12%)	2mo	$25,000	$24	44
2674 Glynn Ct	0.75mi	3/1.0	1,248 (+7%)	15mo	$55,000	$44	41
2930 Waverly St	0.64mi	3/1.0	1,292 (+11%)	16mo	$34,000	$26	38

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 · 5.2% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 22.99×
• Total profit: $61,562
• Equity at exit: $1,491

10-year hold

• IRR: —
• Equity multiple: 52.34×
• Total profit: $143,753
• Equity at exit: $865

Cash invested: $2,800 (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 48206

• Rents YoY: 5.2%
• Active inventory: 273
• Price-to-rent: 0.6×

Monthly cashflow live

• Estimated rent: $1,285 high
• Mortgage (P&I): −$52
• Tax est. 1.5%: −$12 /mo · $150/yr
• Insurance: −$4
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $946

Break-even live

Break-even rent $87

Max offer price $10,000

Occupancy floor 21%

Sensitivity live

Price	-10% $953	-5% $950	+0% $946	+5% $943	+10% $939
Rent	-10% $845	-5% $895	+0% $946	+5% $997	+10% $1,048
Rate	-1.0pp $951	-0.5pp $949	base $946	+0.5pp $943	+1.0pp $941

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: $2,500
• Closing costs: $300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2285 Cortland St Detroit, MI	2.0	1.0	900	$1,000	$1.11	18d	1	0.06mi
2474 Fullerton St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	17d	1	0.21mi
2023 Tuxedo St Detroit, MI	2.0	1.0	950	$1,050	$1.11	26d	1	0.31mi
2638 Richton St Unit 2638 Richton Upper Detroit, MI	2.0	1.0	1000	$900	$0.90	45d	1	0.34mi
2676 Sturtevant St Unit 1 Detroit, MI	2.0	1.0	1000	$1,000	$1.00	26d	1	0.38mi
2634 Lawrence St Detroit, MI	3.0	1.5	1388	$1,600	$1.15	4d	1	0.55mi
1926 Clements St Detroit, MI	3.0	1.0	1150	$1,150	$1.00	7d	1	0.56mi
1926 Clements St Unit 1926 Detroit, MI	3.0	1.0	1150	$1,250	$1.09	22d	1	0.56mi
13639 La Salle Blvd Detroit, MI	2.0	1.0	800	$695	$0.87	13d	1	0.58mi
2045 Calvert St Detroit, MI	2.0	2.0	1400	$1,600	$1.14	45d	1	0.61mi
1929 Calvert Ave Unit 2 Detroit, MI	3.0	1.0	1414	$1,199	$0.85	17d	1	0.63mi
2433 Pasadena St Unit 2435 Detroit, MI	2.0	1.0	700	$1,025	$1.46	45d	1	0.64mi
3224 Monterey St Unit 2E Detroit, MI	2.0	1.0	1200	$1,350	$1.12	45d	1	0.64mi
2653 Calvert Ave Unit 1 Detroit, MI	3.0	1.0	1305	$1,200	$0.92	45d	1	0.69mi
2727 Calvert Ave Unit 1 Detroit, MI	3.0	1.5	1350	$1,200	$0.89	45d	1	0.72mi
2925 Calvert St Detroit, MI	3.0	1.0	1400	$1,300	$0.93	18d	1	0.76mi
9844 Woodrow Wilson St Detroit, MI	3.0	1.0	1187	$1,300	$1.10	14d	1	0.78mi
1427 Calvert Ave Detroit, MI	3.0	1.0	1100	$1,850	$1.68	26d	1	0.80mi
1427 Calvert Ave Detroit, MI	3.0	1.0	1100	$1,750	$1.59	45d	1	0.80mi
3224 Calvert St Detroit, MI	3.0	1.0	1150	$1,150	$1.00	45d	1	0.84mi
3226 Calvert Ave Detroit, MI	3.0	1.0	1100	$1,200	$1.09	14d	1	0.85mi
3266 Calvert Ave Fl 2 Detroit, MI	3.0	1.0	1279	$1,300	$1.02	26d	1	0.88mi
1251 Glynn Ct Detroit, MI	2.0	1.0	705	$1,288	$1.83	4d	2	0.88mi
3740 Tyler St Unit 1 Detroit, MI	3.0	1.0	1300	$1,300	$1.00	7d	1	0.92mi
3783 Tyler St Unit Lower Detroit, MI	3.0	1.0	1000	$1,150	$1.15	45d	1	0.95mi
3824 Tyler St Apt 1 Detroit, MI	3.0	1.0	900	$1,523	$1.69	18d	1	0.99mi
2034 Ewald Cir Detroit, MI	2.0	1.0	1000	$995	$0.99	7d	1	1.02mi
3295 Rochester St Unit 2 Detroit, MI	2.0	1.0	800	$1,000	$1.25	6d	1	1.03mi
3295 Rochester St Unit 2 Detroit, MI	2.0	1.0	782	$850	$1.09	45d	1	1.03mi
127 W Buena Vista St Unit 129 Highland Park, MI	2.0	1.0	800	$1,000	$1.25	45d	1	1.03mi
3812 W Grand St Detroit, MI	2.0	1.0	1100	$1,025	$0.93	18d	1	1.08mi
4045 Clements St Detroit, MI	3.0	1.0	850	$1,150	$1.35	45d	1	1.10mi
4045 Clements St Detroit, MI	3.0	1.0	850	$1,150	$1.35	26d	1	1.10mi
4203 Tyler St Detroit, MI	2.0	1.0	950	$895	$0.94	45d	1	1.11mi
4268 Cortland St Unit 1 Detroit, MI	2.0	1.0	1000	$1,050	$1.05	45d	1	1.12mi
64 Glendale St Highland Park, MI	4.0	1.0	1464	$1,500	$1.02	12d	1	1.13mi
2254 Taylor St Unit Taylor St unit Detroit, MI	3.0	1.0	1307	$1,550	$1.19	5d	1	1.13mi
3422 Edison St Detroit, MI	3.0	1.0	1300	$1,295	$1.00	18d	1	1.15mi
2463 Taylor St Detroit, MI	3.0	1.0	1350	$1,100	$0.81	45d	1	1.18mi
4336 Buena Vista St Detroit, MI	3.0	1.0	1300	$1,100	$0.85	45d	1	1.23mi

Listing history 2 events

1. 2026-05-14
   listed $10,000 Active 246-char remark

   Show marketing remark (246 chars)

   Investment Opportunity – Sold As Is. Cash Only. Great potential for investors or rehabbers looking to add value. Property is being sold in its current condition with no repairs or warranties provided by the seller. Serious cash buyers only.

2. 2026-05-14
   listed $10,000 Active 252-char remark

   Show marketing remark (246 chars)

   Investment Opportunity – Sold As Is. Cash Only. Great potential for investors or rehabbers looking to add value. Property is being sold in its current condition with no repairs or warranties provided by the seller. Serious cash buyers only.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°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: $15,420
• − Mortgage interest: −$560
• − Property taxes: −$150
• − Insurance: −$50
• − Repairs & maintenance: −$1,234
• − Management: −$1,234
• − Depreciation: −$291
• Taxable income: $11,902
• Est. tax owed @ 24.0%: −$2,857
• After-tax cash flow: $8,496/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: Detroit Public Schools Community District
• NCES district ID: 2601103
• Math proficiency: 10% ▼ -2.00%
• Reading proficiency: 24% ▲ 6.00%
• Median HH income: $25,815
• Composite: 13.06/100
• National rank: #9564
• State rank: #499 of 540 in MI

Livability — Detroit

• Score: 73/100
• State rank: #218
• US rank: #5427

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Detroit, MI
• County: Wayne County · 1,562,939 people
• City population: 572,865
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 15,227
• Household income: $45,046
• Rent vs Own: 46.4% rent · 53.6% own
• Severe rent burden: 646.0

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 (81%)
• Race & ethnicity: Black 81% White 12% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Iranian 3% Romanian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 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: ▼ -139.60%
• Current HPI: 130.9545
• Rent YoY: ▲ 5.20%
• 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

6 events — show timeline

• 2026-06-09 Sold (MLS) $10,000 REALCOMP
• 2026-06-09 Sold (MLS) $10,000 MiRealSource-MiMLS
• 2026-05-29 Pending — REALCOMP
• 2026-05-29 Pending — MiRealSource-MiMLS
• 2026-05-14 Listed $10,000 REALCOMP
• 2026-05-14 Listed $10,000 MiRealSource-MiMLS

Property tax history

+21.7%/yr

Latest (2025): $2,083 · +1.1% YoY. Source: county tax records.