2175 Garfield St · Ferndale, MI 48220

$199,900

3 bd · 1.0 ba · 1,602 sqft · SingleFamily public records · 22 Days on market

Built 1948 4,356 sqft lot Est $293k · 32% 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 +22.5/30.0
• ARV discount +15.0/15.0
• DSCR +7.2/10.0
• 1% rule +5.5/10.0
• Livability +4.5/5.0
• Rent growth +4.1/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in desirable Ferndale, Michigan, this home offers convenient access to major freeways for an easy commute. Features include coved ceilings, built-ins, and vinyl replacement windows throughout. The front bedroom offers two closets, while the upstairs boasts an extra-large closet for ample storage. The home includes new interior doors and an updated bathroom. The deep basement provides plenty of headroom and is equipped with a sump pump. Mechanical updates include a newer electric panel, furnace (2017), and air conditioning condenser (2014). Appliances are included. Note: Little black fence at driveway is excluded.

Key facts

• Extra-large closet
• New interior doors
• Coved ceilings

Tags

• COVED CEILINGS
• BUILT-INS
• VINYL REPLACEMENT WINDOWS
• EXTRA-LARGE CLOSET
• NEW INTERIOR DOORS
• UPDATED BATHROOM

Property features AI

Finance

• Financial info: Annual tax: $2,280

Exterior

• Parking: Detached 1-car garage
• Utilities: Public sewer; Electric with circuit breakers; Other water source
• Home design: Single-family residence; One-story layout; Ground-level entry
• Construction: Aluminum and vinyl siding; Block foundation; Asphalt roof; Built on a 0.1-acre lot (approx. 41 x 107.5)
• Exterior features: Fenced backyard; Paved road access

Interior

• Bedrooms: Total of 5 rooms (includes bedrooms and living areas)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Fireplace; Partially finished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $336 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $197k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 4.5% in Ferndale — 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 90/100 on livability (#8 in MI, #103 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: schools D+.
• Hazel Park School District (suburban): math 10% / reading 24% proficiency, ranked #490 of 540 in MI (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.2%/yr); 180 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,614 units permitted in Oakland County in 2024 (721 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 $6k of value loss. Plan a longer hold.
• Oakland County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 6.2% rent growth), your $56k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($197k) 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 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $196,901 (1.5% below list)

Questions for the listing agent

1. Built in 1948 — 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. 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.
5. 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.
6. 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: 1.05% ✓
• Cap rate: 8.31%
• Cash-on-cash: 7.20%
• DSCR: 1.32
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $293,166
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2298 Browning St	0.15mi	4/2.0 (+1)	1,557 (-3%)	0mo	$185,000	$119	79
2406 Brickley St	0.20mi	3/1.0	1,392 (-13%)	1mo	$220,000	$158	68
1444 Orchard St	0.52mi	3/1.5	1,522 (-5%)	1mo	$235,000	$154	64
1641 Woodward Hts	0.30mi	3/3.0	1,748 (+9%)	3mo	$320,000	$183	60
2120 Wrenson St	0.53mi	2/1.0 (-1)	1,492 (-7%)	0mo	$217,000	$145	59
2723 Inman St	0.67mi	3/2.0	1,527 (-5%)	1mo	$340,000	$223	56
2636 Harris St	0.34mi	3/2.5	1,820 (+14%)	3mo	$455,000	$250	53
2843 Grayson St	0.48mi	3/2.0	1,803 (+12%)	0mo	$358,750	$199	53
2333 Barrett Ave	0.51mi	3/2.0	1,420 (-11%)	2mo	$350,000	$246	52
76 W Coy Ave	0.57mi	3/1.5	1,821 (+14%)	4mo	$238,000	$131	45
1921 Kalama Ave	0.74mi	3/2.0	1,447 (-10%)	0mo	$361,000	$249	45
1964 Almont St	0.66mi	3/1.5	1,391 (-13%)	3mo	$220,000	$158	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 · 6.24% rent growth · sell at horizon

5-year hold

• IRR: -1.8%
• Equity multiple: 0.93×
• Total profit: $-3,932
• Equity at exit: $29,806

10-year hold

• IRR: 11.0%
• Equity multiple: 1.98×
• Total profit: $55,112
• Equity at exit: $17,284

Cash invested: $55,972 (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 48220

• Rents YoY: 6.2%
• Active inventory: 180
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,100 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$191 /mo · $2,297/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $336

Break-even live

Break-even rent $1,675

Max offer price $199,900

Occupancy floor 79%

Sensitivity live

Price	-10% $449	-5% $393	+0% $336	+5% $279	+10% $223
Rent	-10% $170	-5% $253	+0% $336	+5% $419	+10% $502
Rate	-1.0pp $437	-0.5pp $387	base $336	+0.5pp $284	+1.0pp $231

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2186 Garfield St Ferndale, MI	3.0	1.0	1300	$1,750	$1.35	25d	1	0.06mi
2181 Coy St Ferndale, MI	3.0	1.0	1050	$1,995	$1.90	12d	1	0.13mi
2420 Woodward Hts Ferndale, MI	3.0	1.0	1316	$2,200	$1.67	25d	1	0.35mi
1816 Guthrie Ave Royal Oak, MI	3.0	1.0	1100	$1,800	$1.64	6d	1	0.43mi
1201 Woodward Hts Ferndale, MI	2.0	2.0	1200	$2,045	$1.70	25d	1	0.47mi
2803 Grayson St Ferndale, MI	3.0	2.0	1274	$2,000	$1.57	45d	1	0.48mi
2705 Inman St Ferndale, MI	3.0	2.5	1429	$3,195	$2.24	0d	1	0.66mi
1414 Owana Ave Royal Oak, MI	3.0	1.0	1489	$1,675	$1.12	23d	1	0.72mi
322 Jeff Keeton Dr Hazel Park, MI	2.0	2.5	1334	$2,275	$1.71	0d	1	0.79mi
1820 E Troy St Ferndale, MI	3.0	1.0	1167	$1,500	$1.29	6d	1	0.84mi
691 E Mapledale Ave Hazel Park, MI	2.0	1.0	1333	$1,500	$1.13	12d	1	0.99mi
23400 Reynolds Ave Hazel Park, MI	3.0	1.0	1305	$1,900	$1.46	6d	1	1.00mi
1605 Anne Dr Royal Oak, MI	2.0	3.5	1814	$2,900	$1.60	4d	1	1.02mi
959 E Shevlin Ave Hazel Park, MI	3.0	1.0	1419	$1,750	$1.23	16d	1	1.08mi
320 E Troy St Ferndale, MI	4.0	2.0	1627	$2,200	$1.35	45d	1	1.10mi
1600 E 4th St Royal Oak, MI	3.0	1.0	1166	$3,200	$2.74	13d	1	1.13mi
1572 Maryland Club Dr Royal Oak, MI	2.0	2.0	1477	$2,450	$1.66	4d	1	1.14mi
23304 Cayuga Ave Hazel Park, MI	4.0	2.0	1540	$2,150	$1.40	25d	1	1.22mi
1230 Diamond Ct Unit E Royal Oak, MI	2.0	2.0	1212	$2,800	$2.31	25d	1	1.22mi
22111 Woodward Ave Ferndale, MI	2.0	1.0	816	$3,355	$4.11	18d	1	1.37mi
615 E 5th St Royal Oak, MI	4.0	3.0	1329	$3,000	$2.26	25d	1	1.47mi
25090 Woodward Ave Royal Oak, MI	1.0–3.0	1.0–2.5	1139	$4,195	$3.68	0d	11	1.49mi
159 Allenhurst Ave Royal Oak, MI	3.0	2.0	1955	$2,700	$1.38	0d	1	1.50mi

Listing history 6 events

1. 2026-05-01
   status Pending 628-char remark

   Show marketing remark (628 chars)

   Located in desirable Ferndale, Michigan, this home offers convenient access to major freeways for an easy commute. Features include coved ceilings, built-ins, and vinyl replacement windows throughout. The front bedroom offers two closets, while the upstairs boasts an extra-large closet for ample storage. The home includes new interior doors and an updated bathroom. The deep basement provides plenty of headroom and is equipped with a sump pump. Mechanical updates include a newer electric panel, furnace (2017), and air conditioning condenser (2014). Appliances are included. Note: Little black fence at driveway is excluded.

2. 2026-05-01
   status Pending

   Show marketing remark (628 chars)

   Located in desirable Ferndale, Michigan, this home offers convenient access to major freeways for an easy commute. Features include coved ceilings, built-ins, and vinyl replacement windows throughout. The front bedroom offers two closets, while the upstairs boasts an extra-large closet for ample storage. The home includes new interior doors and an updated bathroom. The deep basement provides plenty of headroom and is equipped with a sump pump. Mechanical updates include a newer electric panel, furnace (2017), and air conditioning condenser (2014). Appliances are included. Note: Little black fence at driveway is excluded.

3. 2026-04-13
   historical Accepting Backup Offers 628-char remark

   Show marketing remark (628 chars)

   Located in desirable Ferndale, Michigan, this home offers convenient access to major freeways for an easy commute. Features include coved ceilings, built-ins, and vinyl replacement windows throughout. The front bedroom offers two closets, while the upstairs boasts an extra-large closet for ample storage. The home includes new interior doors and an updated bathroom. The deep basement provides plenty of headroom and is equipped with a sump pump. Mechanical updates include a newer electric panel, furnace (2017), and air conditioning condenser (2014). Appliances are included. Note: Little black fence at driveway is excluded.

4. 2026-04-13
   historical Active Under Contract

   Show marketing remark (628 chars)

   Located in desirable Ferndale, Michigan, this home offers convenient access to major freeways for an easy commute. Features include coved ceilings, built-ins, and vinyl replacement windows throughout. The front bedroom offers two closets, while the upstairs boasts an extra-large closet for ample storage. The home includes new interior doors and an updated bathroom. The deep basement provides plenty of headroom and is equipped with a sump pump. Mechanical updates include a newer electric panel, furnace (2017), and air conditioning condenser (2014). Appliances are included. Note: Little black fence at driveway is excluded.

5. 2026-04-09
   listed $199,900 Active
6. 2026-04-06
   listed $199,900 Active 628-char remark

   Show marketing remark (628 chars)

   Located in desirable Ferndale, Michigan, this home offers convenient access to major freeways for an easy commute. Features include coved ceilings, built-ins, and vinyl replacement windows throughout. The front bedroom offers two closets, while the upstairs boasts an extra-large closet for ample storage. The home includes new interior doors and an updated bathroom. The deep basement provides plenty of headroom and is equipped with a sump pump. Mechanical updates include a newer electric panel, furnace (2017), and air conditioning condenser (2014). Appliances are included. Note: Little black fence at driveway is excluded.

ⓘ 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: $2,297 · $191/mo
• Projected year-2 tax: $2,688 · $224/mo
• Expected delta: +$391/yr (+$33/mo · 17.0%)

ⓘ 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 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,199
• − Mortgage interest: −$11,198
• − Property taxes: −$2,297
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,016
• − Management: −$2,016
• − Depreciation: −$5,815
• Taxable income: $858
• Est. tax owed @ 24.0%: −$206
• After-tax cash flow: $3,825/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: Hazel Park School District
• NCES district ID: 2618030
• Math proficiency: 10% ▼ -2.00%
• Reading proficiency: 24% ▲ 1.00%
• Median HH income: $36,181
• Composite: 14.05/100
• National rank: #9466
• State rank: #490 of 540 in MI

Livability — Ferndale

• Score: 90/100
• State rank: #8
• US rank: #103

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ferndale, MI
• County: Oakland County · 1,009,092 people
• City population: 21,527
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 21,527
• Household income: $89,881
• Rent vs Own: 36.3% rent · 63.7% own
• Severe rent burden: 670.0

Population outlook (Oakland County) Hauer SSP2

• Today (2025): 1,335,747 people
• By 2030: 1,375,100 · +2.9%
• By 2040: 1,435,385 · +7.5%
• By 2050: 1,469,250 · +10.0%
• By 2075: 1,531,946 · +14.7%
• By 2100: 1,450,485 · +8.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Black 15% Two or more races 6% Hispanic / Latino 5% Asian 3%
• Common ancestry: Romanian 11% Lithuanian 6% Slovak 3%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 2% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Oakland

• 2024 margin: D (+10.6) · D 54.4% · R 43.8% · Other 1.9%
• 2008→2024 swing: -3.9pp toward R · 2008: 14.5pp · 2024: 10.6pp
• All cycles: 2024: D+10.6 2020: D+14.1 2016: D+8.1 2012: D+8.1 2008: D+14.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -394.92%
• Current HPI: 273.0986
• Rent YoY: ▲ 6.24%
• 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

• 2026-05-01 Pending — MiRealSource-MiMLS
• 2026-05-01 Pending — REALCOMP
• 2026-04-13 Contingent — MiRealSource-MiMLS
• 2026-04-13 Contingent — REALCOMP
• 2026-04-09 Listed $199,900 REALCOMP
• 2026-04-06 Listed $199,900 MiRealSource-MiMLS

Property tax history

+1.9%/yr

Latest (2025): $2,297 · +1.9% YoY. Source: county tax records.