26268 Patricia Ave · Warren, MI 48091

$220,000

3 bd · 1.0 ba · 999 sqft · SingleFamily public records · 10 Days on market

Built 1960 7,405 sqft lot Est $197k · 12% over

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Why this score? — see what drove the F 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 +6.8/30.0
• Livability +3.7/5.0
• Rent growth +3.1/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• ARV discount +2.2/15.0
• 1% rule +1.3/10.0
• DSCR +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

HOME WARRANTYGREAT BUY FOR A 3 BEDROOM BRICK RANCH WITHBASEMENT IN A GREAT AREA IN WARREN. . ALLAPPLIANCESS TO STAY except REFRIGERATOR. .IMMED. OCCUPANCY!!!!!!!!!!!!!

Key facts

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

Property features AI

Exterior

• Parking: Detached garage with approximately 2.5 parking spaces
• Utilities: Public water; Natural gas; Forced air heating
• Home design: Residential single-story home; Built in 1960; Basement present
• Construction: Brick construction; Basement foundation; Year built: 1960
• Exterior features: Brick exterior; Paved street frontage

Interior

• Kitchen: Entry-level kitchen (approx. 10 x 10)
• Bedrooms: Three bedrooms on the entry level (approx. 12 x 10; 10 x 8; 10 width)
• Bathrooms: Two full bathrooms (one on entry level, one in the basement)
• Heating & cooling: Forced air heating; Natural gas fuel
• Interior features: 7 total rooms; Finished basement
• Laundry & utility: Basement laundry/utility access

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-343 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $159k (27.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $138k (37.4% below list).
• Recommended offer: $138k (37.4% below list) — sets the bar for 1% rule.

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 (+2.4%/yr); 168 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,321 units permitted in Macomb County in 2024 (86 in 5+ unit buildings).
• This rent runs 30% 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 $2k of loan paydown is wiped out by about $7k 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 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $90k; list at $220k implies a 144% gain — meaningful room to come down on a strong offer.

Recommended offer $137,729 (37.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.63% ✗
• Cap rate: 4.42%
• Cash-on-cash: -6.68%
• DSCR: 0.70
• GRM: 13.3

CMA / ARV

• ARV (on-the-fly): $196,803
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26379 Audrey Ave	0.08mi	3/2.0	1,000 (+0%)	3mo	$215,000	$215	90
26746 Grobbel Ave	0.29mi	3/2.0	1,031 (+3%)	6mo	$255,000	$247	72
25838 Masch Ave	0.25mi	3/1.0	1,115 (+12%)	7mo	$216,000	$194	63
27250 Haverhill Dr	0.71mi	3/1.0	963 (-4%)	0mo	$219,000	$227	60
26177 Cunningham Dr	0.35mi	3/1.5	1,145 (+15%)	0mo	$235,000	$205	57
24849 Curie St	0.72mi	3/1.0	1,018 (+2%)	11mo	$195,000	$192	54
25729 Loretta Ave	0.38mi	3/1.5	1,145 (+15%)	9mo	$221,000	$193	49
27110 Welsh Dr	0.44mi	3/1.5	1,119 (+12%)	11mo	$227,000	$203	48
27317 Welsh Dr	0.57mi	3/1.0	1,143 (+14%)	1mo	$225,000	$197	48
25459 Curie Ave	0.38mi	2/1.0 (-1)	1,148 (+15%)	11mo	$190,000	$166	43
14930 E 10 Mile Rd Rd	0.68mi	3/1.0	1,126 (+13%)	6mo	$150,000	$133	42
27649 Milton Ave	0.71mi	4/1.0 (+1)	1,100 (+10%)	7mo	$153,000	$139	39

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: -28.6%
• Equity multiple: 0.05×
• Total profit: $-58,422
• Equity at exit: $32,803

10-year hold

• IRR: -30.7%
• Equity multiple: -0.34×
• Total profit: $-82,764
• Equity at exit: $19,022

Cash invested: $61,600 (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: 168
• Price-to-rent: 13.3×

Monthly cashflow live

• Estimated rent: $1,377 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$186 /mo · $2,228/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $-343

Break-even live

Break-even rent $1,811

Max offer price $159,413

Occupancy floor —

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: $55,000
• Closing costs: $6,600
• 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	2d	6	0.46mi
4652 E 10 Mile Rd Warren, MI	2.0	1.0	950	$1,200	$1.26	43d	1	0.71mi
25005 Lawrence Ave Center Line, MI	1.0–2.0	1.0–1.5	1000	$955	$0.95	43d	1	1.23mi
27107 Seyburn Ave Warren, MI	2.0	1.0	750	$1,300	$1.73	21d	1	1.35mi
27489 Parkview Blvd Warren, MI	1.0–2.0	1.0–1.5	850	$1,465	$1.72	4d	12	1.49mi

Listing history 13 events

1. 2026-06-08
   statusdays on market $220,000 Pending 10 DOM
2. 2026-06-07
   days on market $220,000 Active 9 DOM
3. 2026-06-04
   days on market $220,000 Active 6 DOM
4. 2026-06-03
   days on market $220,000 Active 5 DOM
5. 2026-06-02
   days on market $220,000 Active 4 DOM
6. 2026-06-01
   remarks 693-char remark
7. 2026-06-01
   days on market $220,000 Active 3 DOM
8. 2026-05-31
   days on market $220,000 Active 2 DOM
9. 2026-05-27
   historical $220,000
10. 1996-11-27
    soldstatus $90,000
11. 1996-08-21
    soldstatus $90,000 167-char remark

    Show marketing remark (167 chars)

    HOME WARRANTYGREAT BUY FOR A 3 BEDROOM BRICK RANCH WITHBASEMENT IN A GREAT AREA IN WARREN. . ALLAPPLIANCESS TO STAY except REFRIGERATOR. .IMMED. OCCUPANCY!!!!!!!!!!!!!

12. 1996-07-25
    historical 167-char remark

    Show marketing remark (167 chars)

    HOME WARRANTYGREAT BUY FOR A 3 BEDROOM BRICK RANCH WITHBASEMENT IN A GREAT AREA IN WARREN. . ALLAPPLIANCESS TO STAY except REFRIGERATOR. .IMMED. OCCUPANCY!!!!!!!!!!!!!

13. 1996-07-19
    listed $89,999 167-char remark

    Show marketing remark (167 chars)

    HOME WARRANTYGREAT BUY FOR A 3 BEDROOM BRICK RANCH WITHBASEMENT IN A GREAT AREA IN WARREN. . ALLAPPLIANCESS TO STAY except REFRIGERATOR. .IMMED. OCCUPANCY!!!!!!!!!!!!!

ⓘ 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: $2,228 · $186/mo
• Projected year-2 tax: $2,808 · $234/mo
• Expected delta: +$580/yr (+$48/mo · 26.0%)

ⓘ 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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,527
• − Mortgage interest: −$12,323
• − Property taxes: −$2,228
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,322
• − Management: −$1,322
• − Depreciation: −$6,400
• Taxable loss: −$8,168
• Est. tax savings @ 24.0%: +$1,960
• After-tax cash flow: $-2,155/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): 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

+144.4% since first listed

5 events — show timeline

• 2026-05-27 Coming Soon $220,000 MiRealSource-MiMLS
• 1996-11-27 Sold (Public Records) $90,000 Public Records
• 1996-08-21 Sold (MLS) $90,000 MiRealSource-MiMLS
• 1996-07-25 Listing Removed — MiRealSource-MiMLS
• 1996-07-19 Listed $89,999 MiRealSource-MiMLS

Property tax history

+2.0%/yr

Latest (2025): $2,228 · +2.2% YoY. Source: county tax records.