4508 Buckingham Dr · Warren, MI 48092

$175,000

3 bd · 1.0 ba · 985 sqft · SingleFamily public records · 4 Days on market

Built 1960 7,405 sqft lot $178/sqft · 13% above area Est $233k · 25% 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 +16.6/30.0
• ARV discount +15.0/15.0
• DSCR +5.2/10.0
• Rent growth +4.5/5.0
• 1% rule +4.3/10.0
• Livability +3.7/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * MULTIPLE OFFERS: Per seller, highest/best offers due Monday 5/4 at 9am * * 3 bedroom brick ranch offering incredible potential! Perfect for investors or buyers ready to customize and create their ideal space. Hardwood floors, updated kitchen, covered back porch and so much more! Full basement w/ glass block windows and a 2 car detached garage . .. plus, a fenced yard & covered back patio. Flat-screen TV can stay! Prime location near shopping, restaurants, and expressways -- set in a fantastic neighborhood. Re-imagine, renovate and make it your own! THIS HOME IS BEING SOLD AS IS.

Key facts

• 7,405 sq ft lot
• 2 garage spots
• Built 1960

Property features AI

Finance

• Other: Lot approximately 0.17 acres (55 x 131); Directions: Enter Garbor east off of Ryan Road north of 696
• Financial info: No investor or rental income/expense details provided
• HOA & community: Subdivision: MORNINGSIDE MANOR SUB; Community sidewalks

Exterior

• Parking: Detached 2-car garage; Paved access
• Security: No security features listed
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Ground-level entry with steps; Brick construction; Faces not specified
• Construction: Brick exterior; Block foundation; Asphalt roof; Built details not specified
• Exterior features: Covered patio and porch; Front porch; Exterior lighting; Back yard fenced

Interior

• Kitchen: No kitchen appliance list provided
• Bedrooms: Total of 5 rooms (bedroom count not specified)
• Flooring: No flooring information provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Gas water heater; Partially finished basement; Basement present
• Laundry & utility: No laundry or utility appliances listed

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $106 ($1k/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 $163k (6.8% below list).
• Recommended offer: $163k (6.8% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 5.3% in Warren — 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 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.
• Warren Consolidated Schools (urban): math 18% / reading 39% proficiency, ranked #373 of 540 in MI (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+8.0%/yr); 96 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 1,321 units permitted in Macomb County in 2024 (86 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 $5k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $49k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 32y 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.

Recommended offer $163,054 (6.8% below list)

Questions for the listing agent

1. Built in 1960 — 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. 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.
6. 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.
7. 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: 0.93% ✗
• Cap rate: 7.02%
• Cash-on-cash: 2.60%
• DSCR: 1.12
• GRM: 8.9

CMA / ARV

• ARV (median comp): $232,996
• List price: $175,000
• Delta: -24.89%
• 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
27250 Haverhill Dr	0.09mi	3/1.0	963 (-2%)	0mo	$219,000	$227	92
4436 Buckingham Dr	0.06mi	3/1.5	985 (0%)	13mo	$239,000	$243	84
4348 Martin Rd	0.33mi	3/1.0	1,000 (+2%)	4mo	$175,000	$175	79
27575 Strathmoor Dr Dr	0.17mi	3/1.0	1,040 (+6%)	7mo	$225,000	$216	77
4578 Stratford Dr	0.13mi	3/1.5	927 (-6%)	15mo	$220,000	$237	70
26379 Audrey Ave	0.58mi	3/2.0	1,000 (+2%)	3mo	$215,000	$215	64
27103 Warner Ave	0.74mi	3/1.0	973 (-1%)	6mo	$177,000	$182	58
26746 Grobbel Ave	0.56mi	3/2.0	1,031 (+5%)	6mo	$255,000	$247	57
27649 Milton Ave	0.31mi	4/1.0 (+1)	1,100 (+12%)	7mo	$153,000	$139	55
28150 Loretta Ave	0.44mi	3/1.0	1,128 (+14%)	6mo	$150,000	$133	50
5234 Andriths Ave	0.66mi	3/1.0	1,037 (+5%)	13mo	$230,000	$222	50
27110 Welsh Dr	0.50mi	3/1.5	1,119 (+14%)	11mo	$227,000	$203	43

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -6.8%
• Equity multiple: 0.74×
• Total profit: $-12,973
• Equity at exit: $26,093

10-year hold

• IRR: 8.1%
• Equity multiple: 1.75×
• Total profit: $36,659
• Equity at exit: $15,131

Cash invested: $49,000 (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 48092

• Rents YoY: 8.0%
• Active inventory: 96
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,631 high
• Mortgage (P&I): −$918
• Tax from tax record: −$191 /mo · $2,296/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$342
• Net cashflow: $106

Break-even live

Break-even rent $1,496

Max offer price $175,000

Occupancy floor 88%

Sensitivity live

Price	-10% $205	-5% $156	+0% $106	+5% $57	+10% $7
Rent	-10% $-23	-5% $42	+0% $106	+5% $171	+10% $235
Rate	-1.0pp $194	-0.5pp $151	base $106	+0.5pp $61	+1.0pp $15

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4385 Frazho Rd Warren, MI	1.0–2.0	1.0	825	$1,305	$1.58	3d	6	0.69mi
27489 Parkview Blvd Warren, MI	1.0–2.0	1.0–1.5	850	$1,465	$1.72	0d	11	0.95mi
4652 E 10 Mile Rd Warren, MI	2.0	1.0	950	$1,200	$1.26	44d	1	1.23mi
29408 Dequindre Rd Unit 203 Warren, MI	2.0	1.0	900	$1,145	$1.27	5d	1	1.45mi
14895 Twelve Mile Rd Warren, MI	1.0–2.0	1.0–1.5	1025	$1,560	$1.52	2d	4	1.47mi

Listing history 9 events

1. 2026-05-04
   status Pending 600-char remark

   Show marketing remark (600 chars)

   * * MULTIPLE OFFERS: Per seller, highest/best offers due Monday 5/4 at 9am * * 3 bedroom brick ranch offering incredible potential! Perfect for investors or buyers ready to customize and create their ideal space. Hardwood floors, updated kitchen, covered back porch and so much more! Full basement w/ glass block windows and a 2 car detached garage . .. plus, a fenced yard & covered back patio. Flat-screen TV can stay! Prime location near shopping, restaurants, and expressways -- set in a fantastic neighborhood. Re-imagine, renovate and make it your own! THIS HOME IS BEING SOLD AS IS.

2. 2026-05-04
   status Pending 601-char remark

   Show marketing remark (600 chars)

   * * MULTIPLE OFFERS: Per seller, highest/best offers due Monday 5/4 at 9am * * 3 bedroom brick ranch offering incredible potential! Perfect for investors or buyers ready to customize and create their ideal space. Hardwood floors, updated kitchen, covered back porch and so much more! Full basement w/ glass block windows and a 2 car detached garage . .. plus, a fenced yard & covered back patio. Flat-screen TV can stay! Prime location near shopping, restaurants, and expressways -- set in a fantastic neighborhood. Re-imagine, renovate and make it your own! THIS HOME IS BEING SOLD AS IS.

3. 2026-05-01
   listed $175,000 Active 600-char remark

   Show marketing remark (600 chars)

   * * MULTIPLE OFFERS: Per seller, highest/best offers due Monday 5/4 at 9am * * 3 bedroom brick ranch offering incredible potential! Perfect for investors or buyers ready to customize and create their ideal space. Hardwood floors, updated kitchen, covered back porch and so much more! Full basement w/ glass block windows and a 2 car detached garage . .. plus, a fenced yard & covered back patio. Flat-screen TV can stay! Prime location near shopping, restaurants, and expressways -- set in a fantastic neighborhood. Re-imagine, renovate and make it your own! THIS HOME IS BEING SOLD AS IS.

4. 2026-05-01
   listed $175,000 Active 601-char remark

   Show marketing remark (600 chars)

   * * MULTIPLE OFFERS: Per seller, highest/best offers due Monday 5/4 at 9am * * 3 bedroom brick ranch offering incredible potential! Perfect for investors or buyers ready to customize and create their ideal space. Hardwood floors, updated kitchen, covered back porch and so much more! Full basement w/ glass block windows and a 2 car detached garage . .. plus, a fenced yard & covered back patio. Flat-screen TV can stay! Prime location near shopping, restaurants, and expressways -- set in a fantastic neighborhood. Re-imagine, renovate and make it your own! THIS HOME IS BEING SOLD AS IS.

5. 2026-04-27
   historical $175,000 600-char remark

   Show marketing remark (600 chars)

   * * MULTIPLE OFFERS: Per seller, highest/best offers due Monday 5/4 at 9am * * 3 bedroom brick ranch offering incredible potential! Perfect for investors or buyers ready to customize and create their ideal space. Hardwood floors, updated kitchen, covered back porch and so much more! Full basement w/ glass block windows and a 2 car detached garage . .. plus, a fenced yard & covered back patio. Flat-screen TV can stay! Prime location near shopping, restaurants, and expressways -- set in a fantastic neighborhood. Re-imagine, renovate and make it your own! THIS HOME IS BEING SOLD AS IS.

6. 2004-02-09
   soldstatus $160,000
7. 1994-09-28
   soldstatus $79,900
8. 1994-09-23
   soldstatus $79,900

   Show marketing remark (4 chars)

   one!

9. 1994-08-04
   listed $79,900

   Show marketing remark (4 chars)

   one!

ⓘ 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: $2,296 · $191/mo
• Projected year-2 tax: $2,496 · $208/mo
• Expected delta: +$199/yr (+$17/mo · 8.7%)

ⓘ 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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,566
• − Mortgage interest: −$9,803
• − Property taxes: −$2,296
• − Insurance: −$875
• − Repairs & maintenance: −$1,565
• − Management: −$1,565
• − Depreciation: −$5,091
• Taxable loss: −$1,629
• Est. tax savings @ 24.0%: +$391
• After-tax cash flow: $1,665/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: Warren Consolidated Schools
• NCES district ID: 2635190
• Math proficiency: 18% ▼ -14.00%
• Reading proficiency: 39% ▼ -8.00%
• Median HH income: $52,259
• Composite: 25.09/100
• National rank: #7533
• State rank: #373 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): 27,374
• Household income: $73,808
• Rent vs Own: 22.3% rent · 77.7% own
• Severe rent burden: 675.0

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 0.55)
• Race & ethnicity: White 63% Asian 17% Black 14% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 10% Arab 4% Subsaharan African 2%
• Foreign-born: 22% · Vietnam, Canada, China
• Languages at home: 70% English-only · Other Indo-European 11% Arabic 5% Russian/Polish/Slavic 3%

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: ▼ -262.85%
• Current HPI: 189.7524
• Rent YoY: ▲ 8.03%
• 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

+137.8% since first listed

12 events — show timeline

• 2026-06-08 Sold (Public Records) $190,000 Public Records
• 2026-05-29 Sold (MLS) $190,000 REALCOMP
• 2026-05-29 Sold (MLS) $190,000 MiRealSource-MiMLS
• 2026-05-04 Pending — MiRealSource-MiMLS
• 2026-05-04 Pending — REALCOMP
• 2026-05-01 Listed $175,000 MiRealSource-MiMLS
• 2026-05-01 Listed $175,000 REALCOMP
• 2026-04-27 Coming Soon $175,000 MiRealSource-MiMLS
• 2004-02-09 Sold (Public Records) $160,000 Public Records
• 1994-09-28 Sold (Public Records) $79,900 Public Records
• 1994-09-23 Sold (MLS) $79,900 MiRealSource-MiMLS
• 1994-08-04 Listed $79,900 MiRealSource-MiMLS

Property tax history

+2.0%/yr

Latest (2025): $2,296 · +2.2% YoY. Source: county tax records.