21004 Syracuse Ave · Warren, MI 48091

$147,000

3 bd · 1.0 ba · 960 sqft · SingleFamily public records · 18 Days on market

Built 1947 4,356 sqft lot $153/sqft · at area comps Est $146k · 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 +14.1/30.0
• ARV discount +7.2/15.0
• 1% rule +4.5/10.0
• DSCR +4.3/10.0
• Livability +3.7/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this charming 3-bedroom bungalow located in the heart of Warren! This well-maintained home offers a warm and inviting layout featuring beautiful hardwood floors and brand-new carpet in all bedrooms for added comfort. The spacious full basement provides endless possibilities -- perfect for additional living space, a home gym, workshop, or extra storage. Outside, you'll find a fully fenced yard ideal for pets, entertaining, or simply enjoying your own private outdoor space. A detached 2-car garage adds convenience and extra storage. Whether you're a first-time buyer or looking to downsize, this move-in ready home is a fantastic opportunity you won't want to miss!

Key facts

• 4,356 sq ft lot
• 2 garage spots
• Built 1947

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water
• Home design: Single-family residence; Residential property; Built in 1947
• Construction: Brick and vinyl siding construction
• Exterior features: 0.1-acre lot

Interior

• Kitchen: Kitchen (9 x 9)
• Bedrooms: Primary bedroom (20 x 15); Bedroom 2 (12 x 11); Bedroom 3 (13 x 12)
• Bathrooms: 1 full bathroom (9 x 9)
• Heating & cooling: Forced air heating
• Interior features: 7 total rooms; Full basement
• Laundry & utility: Dedicated laundry room (9 x 9)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $147k.

Deal economics

• At list price, monthly cash flow is $22 ($263/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 $140k (5.1% below list).
• Recommended offer: $140k (5.1% 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: amenities D, employment D, crime D-.
• Fitzgerald Public Schools (urban): math 8% / reading 23% proficiency, ranked #503 of 540 in MI (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 77% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Mound Park Elementary School (math 6% / reading 16%, grade F, #1,226 of 1,397 statewide, top 88%, 260 students, 87% FRL); Pd Chatterton Middle School (math 9% / reading 27%, grade F, #433 of 493 statewide, top 88%, 410 students, 86% FRL); Fitzgerald Senior High School (math 8% / reading 26%, grade F, #636 of 713 statewide, top 89%, 806 students, 82% FRL).
• Market conditions: Rents rising (+2.4%/yr); 170 active listings in the ZIP; 35 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 31% of the median local income ($54k/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 $4k 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

• It's been on market 18 days — a 2% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 19y 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 $100k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $139,540 (5.1% below list)

Questions for the listing agent

1. Built in 1947 — 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: 0.95% ✗
• Cap rate: 6.47%
• Cash-on-cash: 0.64%
• DSCR: 1.03
• GRM: 8.8

CMA / ARV

• ARV (median comp): $146,149
• List price: $147,000
• Delta: 0.58%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21029 Blackmar Ave	0.08mi	3/1.0	1,062 (+11%)	6mo	$120,000	$113	73
21410 Panama St	0.20mi	2/1.0 (-1)	900 (-6%)	5mo	$72,000	$80	71
20059 Bloom St	0.52mi	3/1.0	911 (-5%)	4mo	$90,000	$99	64
21455 Blackmar Ave	0.22mi	2/1.0 (-1)	1,087 (+13%)	0mo	$130,000	$120	62
7003 Rivard Ave	0.74mi	3/1.0	955 (-0%)	4mo	$102,000	$107	62
21034 Atlantic Ave	0.29mi	3/1.0	836 (-13%)	5mo	$120,000	$144	60
20057 Keystone St	0.57mi	3/1.0	1,019 (+6%)	7mo	$81,500	$80	57
22011 Masch Ave	0.68mi	3/1.0	1,000 (+4%)	5mo	$163,000	$163	57
21034 Audrey Ave	0.35mi	3/1.0	1,080 (+12%)	8mo	$50,000	$46	56
20818 Atlantic Ave	0.30mi	2/1.0 (-1)	836 (-13%)	6mo	$72,000	$86	55
22595 Curie Ave	0.74mi	2/1.0 (-1)	887 (-8%)	4mo	$40,000	$45	44
3191 E Outer Dr	0.67mi	3/1.5	1,072 (+12%)	6mo	$79,500	$74	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 · 2.35% rent growth · sell at horizon

5-year hold

• IRR: -16.0%
• Equity multiple: 0.43×
• Total profit: $-23,269
• Equity at exit: $21,918

10-year hold

• IRR: -8.8%
• Equity multiple: 0.47×
• Total profit: $-21,889
• Equity at exit: $12,710

Cash invested: $41,160 (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 48091

• Rents YoY: 2.4%
• Active inventory: 170
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,395 high
• Mortgage (P&I): −$771
• Tax from tax record: −$248 /mo · $2,980/yr
• Insurance: −$61
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $22

Break-even live

Break-even rent $1,368

Max offer price $147,000

Occupancy floor 93%

Sensitivity live

Price	-10% $105	-5% $64	+0% $22	+5% $-20	+10% $-61
Rent	-10% $-88	-5% $-33	+0% $22	+5% $77	+10% $132
Rate	-1.0pp $96	-0.5pp $59	base $22	+0.5pp $-16	+1.0pp $-55

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: $36,750
• Closing costs: $4,410
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21410 Panama St Warren, MI	3.0	1.0	900	$1,600	$1.78	26d	1	0.24mi
21465 Syracuse Ave Warren, MI	3.0	1.0	990	$1,375	$1.39	45d	1	0.25mi
20263 Caldwell St Detroit, MI	3.0	1.0	909	$1,350	$1.49	18d	1	0.33mi
20794 Audrey Ave Warren, MI	3.0	1.0	954	$1,350	$1.42	45d	1	0.38mi
22622 Panama Ave Warren, MI	3.0	1.5	920	$1,395	$1.52	12d	1	0.75mi
7033 Westminster Ave Warren, MI	2.0	1.0	561	$1,050	$1.87	45d	1	0.76mi
7060 Victory Ave Warren, MI	3.0	1.0	945	$1,450	$1.53	13d	1	0.79mi
7043 Meadow Ave Warren, MI	2.0	1.0	911	$1,274	$1.40	45d	1	0.81mi
19415 Gable St Detroit, MI	3.0	1.0	1000	$1,373	$1.37	26d	1	0.86mi
19450 Fenelon St Detroit, MI	3.0	1.0	1062	$1,384	$1.30	6d	1	0.92mi
22580 Masch Ave Warren, MI	3.0	1.0	988	$1,450	$1.47	26d	1	0.92mi
19361 Moenart St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	25d	1	0.94mi
7275 Chalmers Ave Warren, MI	2.0	1.0	703	$1,200	$1.71	26d	1	0.97mi
7511 Toepfer Rd Warren, MI	3.0	1.0	1032	$1,199	$1.16	23d	1	0.97mi
19260 Bloom St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	6d	1	0.99mi
7605 Jackson Ave Warren, MI	2.0	1.0	600	$1,165	$1.94	26d	1	1.00mi
19682 Rogge St Detroit, MI	3.0	1.0	1000	$1,350	$1.35	0d	1	1.09mi
19691 Cliff St #1 Detroit, MI	2.0	1.0	850	$1,000	$1.18	0d	1	1.10mi
19930 Binder St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	18d	1	1.12mi
19162 Conley St Detroit, MI	2.0	1.0	1000	$1,300	$1.30	45d	1	1.13mi
8065 Meadow Ave Warren, MI	2.0	1.0	800	$1,050	$1.31	26d	1	1.13mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	45d	1	1.20mi
18884 Bloom St Detroit, MI	3.0	1.0	979	$975	$1.00	23d	1	1.20mi
6847 Continental Ave Warren, MI	4.0	1.0	1000	$1,595	$1.59	1d	1	1.20mi
18891 Moenart St Detroit, MI	3.0	1.0	870	$1,195	$1.37	18d	1	1.21mi
8036 Hupp Ave Warren, MI	2.0	1.0	680	$1,150	$1.69	45d	1	1.22mi
8162 Orchard Ave Warren, MI	2.0	1.0	900	$1,000	$1.11	45d	1	1.22mi
8242 Jackson Ave Warren, MI	3.0	1.0	840	$1,198	$1.43	45d	1	1.25mi
8285 Rivard Ave Warren, MI	3.0	1.0	902	$1,549	$1.72	26d	1	1.29mi
8251 Hudson Ave Warren, MI	3.0	1.0	908	$1,400	$1.54	26d	1	1.33mi
19171 Cliff St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	18d	1	1.36mi
19450 Norwood St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	6d	1	1.37mi
19694 Gallagher St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	16d	1	1.45mi
19360 Revere St Detroit, MI	3.0	1.0	1050	$1,250	$1.19	26d	1	1.46mi
20255 Harned St Detroit, MI	3.0	1.0	1000	$1,374	$1.37	18d	1	1.49mi

Listing history 48 events

1. 2026-06-21
   days on market $147,000 Active 18 DOM
2. 2026-06-18
   days on market $147,000 Active 15 DOM
3. 2026-06-17
   days on market $147,000 Active 14 DOM
4. 2026-06-16
   days on market $147,000 Active 13 DOM
5. 2026-06-15
   days on market $147,000 Active 12 DOM
6. 2026-06-13
   days on market $147,000 Active 10 DOM
7. 2026-06-13
   days on market $147,000 Active 9 DOM
8. 2026-06-09
   days on market $147,000 Active 6 DOM
9. 2026-06-08
   days on market $147,000 Active 5 DOM
10. 2026-06-07
    days on market $147,000 Active 4 DOM
11. 2026-06-04
    days on marketlisting id $147,000 Active 1 DOM
12. 2026-02-17
    listed $147,000 Active 685-char remark
13. 2026-02-16
    listed $147,000 Active 685-char remark
14. 2026-02-16
    listed $147,000 Active
15. 2024-11-14
    historical
16. 2024-11-13
    historical
17. 2024-07-16
    price $130,000
18. 2024-07-15
    price $130,000
19. 2024-07-15
    price $130,000
20. 2024-06-03
    price $135,000
21. 2024-06-03
    price $135,000
22. 2024-06-03
    price $135,000
23. 2024-05-15
    listed $140,000 Active
24. 2024-05-15
    listed $140,000 Active
25. 2022-05-25
    soldstatus $100,000
26. 2022-05-20
    soldstatus $100,000 Sold
27. 2022-05-20
    soldstatus $100,000 Closed
28. 2022-05-06
    status Pending
29. 2022-05-06
    status Pending
30. 2022-05-06
    price $110,000
31. 2022-05-06
    price $110,000
32. 2022-05-06
    status Active
33. 2022-05-06
    status Active
34. 2022-05-04
    historical
35. 2022-05-04
    historical
36. 2022-04-26
    listed $99,900 Active
37. 2022-04-26
    listed $99,900 Active
38. 2013-12-06
    soldstatus $19,650
39. 2013-12-06
    soldstatus $19,650
40. 2013-11-05
    historical
41. 2013-09-09
    listed $19,000
42. 2013-09-09
    listed $19,000
43. 2008-04-29
    soldstatus $79,500
44. 2008-02-01
    soldstatus $79,500
45. 2008-02-01
    soldstatus $79,500
46. 2007-10-12
    historical
47. 2007-07-11
    listed $79,500
48. 2007-07-11
    listed $79,500

ⓘ 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: $2,980 · $248/mo
• Projected year-2 tax: $2,980 · $248/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,745
• − Mortgage interest: −$8,234
• − Property taxes: −$2,980
• − Insurance: −$735
• − Repairs & maintenance: −$1,340
• − Management: −$1,340
• − Depreciation: −$4,276
• Taxable loss: −$2,160
• Est. tax savings @ 24.0%: +$518
• After-tax cash flow: $782/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: Fitzgerald Public Schools
• NCES district ID: 2614460
• Math proficiency: 8% ▼ -8.00%
• Reading proficiency: 23% ▼ -11.00%
• Median HH income: $34,828
• Composite: 12.67/100
• National rank: #9608
• State rank: #503 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): 30,696
• Household income: $54,230
• Rent vs Own: 35.1% rent · 64.9% own
• Severe rent burden: 1296.0

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 0.68)
• Race & ethnicity: White 47% Black 25% Asian 19% Two or more races 5% Hispanic / Latino 3% Native American 2%
• Common ancestry: Romanian 7% Lithuanian 2% Slovak 1%
• Foreign-born: 16% · Canada
• Languages at home: 77% English-only · Other Indo-European 14% Other Asian/Pacific 3% Russian/Polish/Slavic 2%

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: ▼ -199.66%
• Current HPI: 177.9273
• Rent YoY: ▲ 2.35%
• 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

+84.9% since first listed

41 events — show timeline

• 2026-06-03 Listed $147,000 SW Michigan MLS
• 2026-06-03 Listed $147,000 REALCOMP
• 2026-06-03 Listed $147,000 MiRealSource-MiMLS
• 2026-05-29 Listing Removed — MiRealSource-MiMLS
• 2026-05-28 Listing Removed — REALCOMP
• 2026-02-17 Listed $147,000 REALCOMP
• 2026-02-16 Listed $147,000 MiRealSource-MiMLS
• 2024-11-14 Listing Removed — MiRealSource-MiMLS
• 2024-11-13 Listing Removed — REALCOMP
• 2024-07-16 Price Changed $130,000 MiRealSource-MiMLS
• 2024-07-15 Price Changed $130,000 REALCOMP
• 2024-07-15 Price Changed $130,000 SW Michigan MLS
• 2024-06-03 Price Changed $135,000 MiRealSource-MiMLS
• 2024-06-03 Price Changed $135,000 REALCOMP
• 2024-06-03 Price Changed $135,000 SW Michigan MLS
• 2024-05-15 Listed $140,000 MiRealSource-MiMLS
• 2024-05-15 Listed $140,000 REALCOMP
• 2022-05-25 Sold (Public Records) $100,000 Public Records
• 2022-05-20 Sold (MLS) $100,000 MiRealSource-MiMLS
• 2022-05-20 Sold (MLS) $100,000 REALCOMP
• 2022-05-06 Pending — MiRealSource-MiMLS
• 2022-05-06 Pending — REALCOMP
• 2022-05-06 Price Changed $110,000 MiRealSource-MiMLS
• 2022-05-06 Price Changed $110,000 REALCOMP
• 2022-05-06 Relisted — MiRealSource-MiMLS
• 2022-05-06 Relisted — REALCOMP
• 2022-05-04 Listing Removed — REALCOMP
• 2022-05-04 Listing Removed — MiRealSource-MiMLS
• 2022-04-26 Listed $99,900 MiRealSource-MiMLS
• 2022-04-26 Listed $99,900 REALCOMP
• 2013-12-06 Sold (MLS) $19,650 REALCOMP
• 2013-12-06 Sold (MLS) $19,650 MiRealSource-MiMLS
• 2013-11-05 Listing Removed — MiRealSource-MiMLS
• 2013-09-09 Listed $19,000 REALCOMP
• 2013-09-09 Listed $19,000 MiRealSource-MiMLS
• 2008-04-29 Sold (Public Records) $79,500 Public Records
• 2008-02-01 Sold (MLS) $79,500 MiRealSource-MiMLS
• 2008-02-01 Sold (MLS) $79,500 REALCOMP
• 2007-10-12 Listing Removed — MiRealSource-MiMLS
• 2007-07-11 Listed $79,500 MiRealSource-MiMLS
• 2007-07-11 Listed $79,500 REALCOMP

Property tax history

+11.6%/yr

Latest (2025): $2,980 · +2.6% YoY. Source: county tax records.