24306 Wagner Ave · Warren, MI 48089

$184,900

4 bd · 1.5 ba · 1,218 sqft · SingleFamily public records · 2 Days on market

Built 1953 7,405 sqft lot Est $177k · at est.

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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 +14.5/30.0
• ARV discount +5.4/15.0
• DSCR +4.4/10.0
• Livability +3.7/5.0
• 1% rule +3.5/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully updated 4-bedroom, 2-bath home offering 1,218 sq ft on an extra deep fenced lot (40x180). Recent improvements include a new roof with dimensional shingles, new electrical panel, and professional interior/exterior painting. The remodeled kitchen features granite countertops, stainless steel stove, refrigerator, microwave, dishwasher & durable composite tile flooring. Updated second-floor full bath includes a new vanity, sink, and composite tile flooring. Hardwood floors highlight the living room and two main-floor bedrooms, while the stairway and upper bedrooms feature brand-new carpet. Full basement with daylight windows and egress door leading to a covered patio. Enclosed front porch with additional storage space. Move-in ready with numerous updates throughout!

Key facts

• Remodeled kitchen
• Full basement
• New roof

Tags

• NEW ROOF
• REMODELED KITCHEN
• UPDATED SECOND-FLOOR BATH
• FULL BASEMENT
• ENCLOSED FRONT PORCH

Property features AI

Finance

• Other: Lot is paved and on a public-maintained road; Lot dimensions approximately 40 x 180 (0.17 acres); Subdivision: WAGNER LITTLE FARMS SUB; Located south of 10 Mile Road and east of Hoover
• HOA & community: Homeowners association present

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Residential zoning
• Construction: Aluminum siding; Block foundation; Built with block foundation
• Exterior features: Front porch

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator; Gas water heater
• Bedrooms: 6 total rooms (includes bedrooms and living spaces)
• Flooring: Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Eat-in kitchen; Basement with walk-out access, daylight windows, block construction and sump pump; crawl space area
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $39 ($471/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 $158k (14.8% below list).
• Recommended offer: $158k (14.8% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 5.2% in Warren — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 74/100 on livability (#171 in MI, #4,491 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D, amenities D, employment D.
• Van Dyke Public Schools (urban): math 7% / reading 19% proficiency, ranked #512 of 540 in MI (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.9%/yr); 168 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 1,321 units permitted in Macomb County in 2024 (86 in 5+ unit buildings).
• This rent runs 36% of the median local income ($52k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Macomb County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 21y 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.
• Current owner paid $22k; list at $185k implies a 740% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $157,526 (14.8% below list)

Questions for the listing agent

1. Built in 1953 — 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 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?
4. Crime grade is D 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: 0.85% ✗
• Cap rate: 6.55%
• Cash-on-cash: 0.91%
• DSCR: 1.04
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $176,610
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
24306 Wagner Ave	0.00mi	4/2.0	1,218 (0%)	0mo	$190,000	$156	98
24706 Wagner Ave	0.15mi	4/1.0	1,198 (-2%)	8mo	$169,900	$142	82
12178 Stephens Rd	0.22mi	3/1.0 (-1)	1,300 (+7%)	8mo	$145,000	$112	65
11780 Avondale Ave	0.38mi	3/1.0 (-1)	1,200 (-2%)	11mo	$160,000	$133	64
11581 Metter Ave	0.41mi	3/1.0 (-1)	1,137 (-7%)	4mo	$165,000	$145	60
25009 Roan Ave	0.33mi	3/1.5 (-1)	1,369 (+12%)	7mo	$205,000	$150	53
25009 Rayburn Dr	0.35mi	3/1.5 (-1)	1,053 (-14%)	9mo	$210,500	$200	48
11216 Unity Dr	0.67mi	3/1.5 (-1)	1,316 (+8%)	5mo	$192,000	$146	46
11215 Edgemont Ave	0.66mi	4/1.0	1,320 (+8%)	11mo	$160,000	$121	44
11169 Ocalla Dr	0.72mi	3/1.0 (-1)	1,064 (-13%)	2mo	$160,000	$150	36
24344 Rosemarie Ave	0.74mi	3/1.0 (-1)	1,064 (-13%)	2mo	$148,000	$139	36
11252 Ocalla Dr	0.66mi	3/1.0 (-1)	1,064 (-13%)	11mo	$150,000	$141	32

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 · 2.94% rent growth · sell at horizon

5-year hold

• IRR: -14.9%
• Equity multiple: 0.47×
• Total profit: $-27,577
• Equity at exit: $27,569

10-year hold

• IRR: -6.4%
• Equity multiple: 0.59×
• Total profit: $-21,269
• Equity at exit: $15,987

Cash invested: $51,772 (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 48089

• Rents YoY: 2.9%
• Active inventory: 168
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,575 high
• Mortgage (P&I): −$970
• Tax from tax record: −$159 /mo · $1,902/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $39

Break-even live

Break-even rent $1,526

Max offer price $184,900

Occupancy floor 93%

Sensitivity live

Price	-10% $144	-5% $92	+0% $39	+5% $-13	+10% $-65
Rent	-10% $-85	-5% $-23	+0% $39	+5% $101	+10% $164
Rate	-1.0pp $132	-0.5pp $86	base $39	+0.5pp $-9	+1.0pp $-57

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
25146 Wagner Ave Warren, MI	3.0	1.0	906	$1,900	$2.10	25d	1	0.40mi
11332 Republic Ave Warren, MI	3.0	1.0	1140	$1,500	$1.32	25d	1	0.81mi
11076 Essex Ave Warren, MI	4.0	1.0	1072	$1,400	$1.31	45d	1	0.85mi
22852 Sharrow Ave Warren, MI	3.0	1.0	1000	$1,400	$1.40	6d	1	0.93mi
8716 Timken Ave Warren, MI	3.0	1.0	1008	$1,400	$1.39	25d	1	0.96mi
8707 Continental Ave Warren, MI	3.0	1.0	968	$1,200	$1.24	19d	1	1.04mi
8707 Continental Ave Warren, MI	3.0	1.0	1100	$1,200	$1.09	6d	1	1.04mi
8693 Paige Ave Warren, MI	3.0	1.0	900	$1,300	$1.44	25d	1	1.09mi
8625 Dale Center Line, MI	3.0	1.5	1179	$1,796	$1.52	45d	1	1.10mi
11809 McKinley Dr Warren, MI	3.0	1.5	1212	$1,800	$1.49	19d	1	1.15mi
8428 Timken Ave Warren, MI	3.0	1.0	860	$1,250	$1.45	25d	1	1.16mi
8509 Paige Ave Warren, MI	3.0	1.0	950	$1,300	$1.37	25d	1	1.19mi
11319 Chalmers Ave Warren, MI	3.0	1.0	975	$1,500	$1.54	25d	1	1.30mi
11076 Hudson Ave Warren, MI	3.0	1.0	936	$1,395	$1.49	4d	1	1.31mi
8125 Timken Ave Warren, MI	3.0	1.0	948	$1,270	$1.34	6d	1	1.33mi
13050 Couwlier Ave Warren, MI	3.0	1.0	850	$1,320	$1.55	0d	1	1.35mi
21311 Waltham Rd Warren, MI	3.0	1.0	1000	$1,350	$1.35	0d	1	1.44mi
8632 Studebaker Ave Warren, MI	3.0	1.0	761	$1,300	$1.71	4d	1	1.47mi

Listing history 14 events

1. 2026-05-20
   status Pending

   Show marketing remark (790 chars)

   Beautifully updated 4-bedroom, 2-bath home offering 1,218 sq ft on an extra deep fenced lot (40x180). Recent improvements include a new roof with dimensional shingles, new electrical panel, and professional interior/exterior painting. The remodeled kitchen features granite countertops, stainless steel stove, refrigerator, microwave, dishwasher & durable composite tile flooring. Updated second-floor full bath includes a new vanity, sink, and composite tile flooring. Hardwood floors highlight the living room and two main-floor bedrooms, while the stairway and upper bedrooms feature brand-new carpet. Full basement with daylight windows and egress door leading to a covered patio. Enclosed front porch with additional storage space. Move-in ready with numerous updates throughout!

2. 2026-05-20
   status Pending 790-char remark

   Show marketing remark (790 chars)

   Beautifully updated 4-bedroom, 2-bath home offering 1,218 sq ft on an extra deep fenced lot (40x180). Recent improvements include a new roof with dimensional shingles, new electrical panel, and professional interior/exterior painting. The remodeled kitchen features granite countertops, stainless steel stove, refrigerator, microwave, dishwasher & durable composite tile flooring. Updated second-floor full bath includes a new vanity, sink, and composite tile flooring. Hardwood floors highlight the living room and two main-floor bedrooms, while the stairway and upper bedrooms feature brand-new carpet. Full basement with daylight windows and egress door leading to a covered patio. Enclosed front porch with additional storage space. Move-in ready with numerous updates throughout!

3. 2026-05-18
   listed $184,900 Active

   Show marketing remark (790 chars)

   Beautifully updated 4-bedroom, 2-bath home offering 1,218 sq ft on an extra deep fenced lot (40x180). Recent improvements include a new roof with dimensional shingles, new electrical panel, and professional interior/exterior painting. The remodeled kitchen features granite countertops, stainless steel stove, refrigerator, microwave, dishwasher & durable composite tile flooring. Updated second-floor full bath includes a new vanity, sink, and composite tile flooring. Hardwood floors highlight the living room and two main-floor bedrooms, while the stairway and upper bedrooms feature brand-new carpet. Full basement with daylight windows and egress door leading to a covered patio. Enclosed front porch with additional storage space. Move-in ready with numerous updates throughout!

4. 2026-05-18
   listed $184,900 Active 790-char remark

   Show marketing remark (790 chars)

   Beautifully updated 4-bedroom, 2-bath home offering 1,218 sq ft on an extra deep fenced lot (40x180). Recent improvements include a new roof with dimensional shingles, new electrical panel, and professional interior/exterior painting. The remodeled kitchen features granite countertops, stainless steel stove, refrigerator, microwave, dishwasher & durable composite tile flooring. Updated second-floor full bath includes a new vanity, sink, and composite tile flooring. Hardwood floors highlight the living room and two main-floor bedrooms, while the stairway and upper bedrooms feature brand-new carpet. Full basement with daylight windows and egress door leading to a covered patio. Enclosed front porch with additional storage space. Move-in ready with numerous updates throughout!

5. 2013-08-13
   soldstatus $22,000 274-char remark

   Show marketing remark (274 chars)

   GREAT 3 BEDROOM BUNGALOW WITH 1 CAR GARAGE LOCATED IN WARREN. NICE KITCHEN AND BATHROOM!! PLEASE ALLOW 2-3 BUSINESS DAYS FOR SELLER RESPONSE. ALL CASH TRANSACTIONS ARE SUBJECT TO SPECIAL DEED RESTRICTIONS. ANY CORPORATION INVESTOR OFFERS MUST INCLUDE AN OPERATING AGREEMENT.

6. 2013-08-13
   soldstatus $22,000

   Show marketing remark (274 chars)

   GREAT 3 BEDROOM BUNGALOW WITH 1 CAR GARAGE LOCATED IN WARREN. NICE KITCHEN AND BATHROOM!! PLEASE ALLOW 2-3 BUSINESS DAYS FOR SELLER RESPONSE. ALL CASH TRANSACTIONS ARE SUBJECT TO SPECIAL DEED RESTRICTIONS. ANY CORPORATION INVESTOR OFFERS MUST INCLUDE AN OPERATING AGREEMENT.

7. 2013-06-07
   historical
8. 2013-05-28
   historical 274-char remark

   Show marketing remark (274 chars)

   GREAT 3 BEDROOM BUNGALOW WITH 1 CAR GARAGE LOCATED IN WARREN. NICE KITCHEN AND BATHROOM!! PLEASE ALLOW 2-3 BUSINESS DAYS FOR SELLER RESPONSE. ALL CASH TRANSACTIONS ARE SUBJECT TO SPECIAL DEED RESTRICTIONS. ANY CORPORATION INVESTOR OFFERS MUST INCLUDE AN OPERATING AGREEMENT.

9. 2013-05-13
   listed $22,000 274-char remark

   Show marketing remark (274 chars)

   GREAT 3 BEDROOM BUNGALOW WITH 1 CAR GARAGE LOCATED IN WARREN. NICE KITCHEN AND BATHROOM!! PLEASE ALLOW 2-3 BUSINESS DAYS FOR SELLER RESPONSE. ALL CASH TRANSACTIONS ARE SUBJECT TO SPECIAL DEED RESTRICTIONS. ANY CORPORATION INVESTOR OFFERS MUST INCLUDE AN OPERATING AGREEMENT.

10. 2013-05-13
    listed $22,000

    Show marketing remark (274 chars)

    GREAT 3 BEDROOM BUNGALOW WITH 1 CAR GARAGE LOCATED IN WARREN. NICE KITCHEN AND BATHROOM!! PLEASE ALLOW 2-3 BUSINESS DAYS FOR SELLER RESPONSE. ALL CASH TRANSACTIONS ARE SUBJECT TO SPECIAL DEED RESTRICTIONS. ANY CORPORATION INVESTOR OFFERS MUST INCLUDE AN OPERATING AGREEMENT.

11. 2006-01-24
    historical
12. 2006-01-24
    historical
13. 2005-07-24
    listed $95,000
14. 2005-07-24
    listed $95,000

ⓘ 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: $1,902 · $159/mo
• Projected year-2 tax: $2,375 · $198/mo
• Expected delta: +$473/yr (+$39/mo · 24.8%)

ⓘ 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 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,903
• − Mortgage interest: −$10,357
• − Property taxes: −$1,902
• − Insurance: −$924
• − Repairs & maintenance: −$1,512
• − Management: −$1,512
• − Depreciation: −$5,379
• Taxable loss: −$2,684
• Est. tax savings @ 24.0%: +$644
• After-tax cash flow: $1,115/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: Van Dyke Public Schools
• NCES district ID: 2634680
• Math proficiency: 7% ▼ -11.00%
• Reading proficiency: 19% ▼ -5.00%
• Median HH income: $33,231
• Composite: 10.46/100
• National rank: #9784
• State rank: #512 of 540 in MI

Livability — Warren

• Score: 74/100
• State rank: #171
• US rank: #4491

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Warren, MI
• County: Macomb County · 638,552 people
• City population: 114,937
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 31,853
• Household income: $52,366
• Rent vs Own: 43.4% rent · 56.6% own
• Severe rent burden: 1754.0

Population outlook (Macomb County) Hauer SSP2

• Today (2025): 925,296 people
• By 2030: 948,226 · +2.5%
• By 2040: 983,961 · +6.3%
• By 2050: 1,010,200 · +9.2%
• By 2075: 1,076,222 · +16.3%
• By 2100: 1,077,065 · +16.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 53% Black 31% Asian 7% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Romanian 11% Lithuanian 3% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Other Asian/Pacific 3% Other Indo-European 2% Arabic 1%

Political lean MEDSL · Macomb

• 2024 margin: R (+13.7) · D 42.2% · R 55.9% · Other 1.9%
• 2008→2024 swing: -22.3pp toward R · 2008: 8.6pp · 2024: -13.7pp
• All cycles: 2024: R+13.7 2020: R+8.1 2016: R+11.6 2012: D+4.0 2008: D+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -211.46%
• Current HPI: 154.8325
• Rent YoY: ▲ 2.94%
• 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

+94.6% since first listed

14 events — show timeline

• 2026-05-20 Pending — REALCOMP
• 2026-05-20 Pending — MiRealSource-MiMLS
• 2026-05-18 Listed $184,900 REALCOMP
• 2026-05-18 Listed $184,900 MiRealSource-MiMLS
• 2013-08-13 Sold (MLS) $22,000 MiRealSource-MiMLS
• 2013-08-13 Sold (MLS) $22,000 REALCOMP
• 2013-06-07 Listing Removed — MiRealSource-MiMLS
• 2013-05-28 Listing Removed — REALCOMP
• 2013-05-13 Listed $22,000 MiRealSource-MiMLS
• 2013-05-13 Listed $22,000 REALCOMP
• 2006-01-24 Listing Removed — REALCOMP
• 2006-01-24 Listing Removed — MiRealSource-MiMLS
• 2005-07-24 Listed $95,000 REALCOMP
• 2005-07-24 Listed $95,000 MiRealSource-MiMLS

Property tax history

+2.3%/yr

Latest (2025): $1,902 · +2.6% YoY. Source: county tax records.