7520 Studebaker Ave · Warren, MI 48091

$107,656

2 bd · 1.0 ba · 579 sqft · SingleFamily public records · 243 Days on market

Built 1940 4,356 sqft lot $186/sqft · 36% above area Est $82k · 31% over

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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 +20.3/30.0
• DSCR +6.4/10.0
• 1% rule +6.0/10.0
• Livability +3.7/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

We will entertain any creative scenario. Make us an offer. Land Contract, Lease with Option, must have some cash to put down and pass a background check. We love out-of-the-box opportunities. Got something to trade? Equity in something else, vacant land, expensive car? Possibilities are endless

Key facts

• 4,356 sq ft lot
• Built 1940
• Listed 242 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $108k.

Deal economics

• At list price, monthly cash flow is $137 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $108k).
• Recommended offer: $95k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 5.2% 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: amenities D, employment D, crime 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.
• Zoned schools: Mckinley Elementary School (math 12% / reading 27%, grade F, #1,110 of 1,397 statewide, top 81%, 344 students, 96% FRL); Lincoln Middle School (math 7% / reading 22%, grade F, #460 of 493 statewide, top 93%, 401 students, 96% FRL); Lincoln High School (math 2% / reading 17%, grade F, #692 of 713 statewide, top 98%, 440 students, 91% FRL).
• Market conditions: Rents rising (+2.4%/yr); 170 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $744 of loan paydown is wiped out by about $3k 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 243 days — a 12% lower offer ($95k) is reasonable based on typical stale-listing flexibility.
• 18 sale attempts since 31y ago; this cycle's ask has dropped $8k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $94,737 (12.0% below list)

Questions for the listing agent

1. It's been on market 243 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.10% ✓
• Cap rate: 7.82%
• Cash-on-cash: 5.45%
• DSCR: 1.24
• GRM: 7.6

CMA / ARV

• ARV (median comp): $82,093
• List price: $107,656
• Delta: 31.14%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7540 Prospect Ave	0.28mi	2/1.0	576 (-0%)	5mo	$38,000	$66	82
21832 Conners Ave	0.30mi	2/1.0	600 (+4%)	3mo	$84,000	$140	78
8094 Chalmers Ave	0.22mi	2/1.0	630 (+9%)	6mo	$64,000	$102	70
7083 Victory Ave	0.25mi	1/1.0 (-1)	594 (+3%)	20mo	$32,900	$55	62
6744 Paige Ave	0.54mi	2/1.0	591 (+2%)	16mo	$105,000	$178	58
8101 Rivard Ave	0.59mi	2/2.0	616 (+6%)	1mo	$75,000	$122	57
8278 Jackson Ave	0.62mi	2/1.0	592 (+2%)	12mo	$82,000	$139	57
20493 Carrie St	0.67mi	2/1.0	576 (-0%)	18mo	$25,000	$43	52
7559 Lozier Ave	0.64mi	2/1.0	600 (+4%)	20mo	$75,000	$125	47
7259 Republic Ave	0.60mi	3/1.0 (+1)	640 (+10%)	12mo	$82,500	$129	40
8477 Sherman Ave	0.59mi	1/1.0 (-1)	505 (-13%)	13mo	$60,000	$119	36
11041 Chalmers Ave	0.72mi	1/1.0 (-1)	500 (-14%)	20mo	$76,500	$153	22

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: -8.6%
• Equity multiple: 0.69×
• Total profit: $-9,437
• Equity at exit: $16,052

10-year hold

• IRR: 0.1%
• Equity multiple: 1.00×
• Total profit: $110
• Equity at exit: $9,308

Cash invested: $30,144 (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: 7.6×

Monthly cashflow live

• Estimated rent: $1,188 high
• Mortgage (P&I): −$565
• Tax from tax record: −$192 /mo · $2,304/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $137

Break-even live

Break-even rent $1,014

Max offer price $107,656

Occupancy floor 83%

Sensitivity live

Price	-10% $198	-5% $167	+0% $137	+5% $107	+10% $76
Rent	-10% $43	-5% $90	+0% $137	+5% $184	+10% $231
Rate	-1.0pp $191	-0.5pp $164	base $137	+0.5pp $109	+1.0pp $81

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: $26,914
• Closing costs: $3,230
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7275 Chalmers Ave Warren, MI	2.0	1.0	703	$1,200	$1.71	26d	1	0.03mi
8036 Hupp Ave Warren, MI	2.0	1.0	680	$1,150	$1.69	45d	1	0.23mi
7033 Westminster Ave Warren, MI	2.0	1.0	561	$1,050	$1.87	45d	1	0.34mi
7605 Jackson Ave Warren, MI	2.0	1.0	600	$1,165	$1.94	26d	1	0.48mi
8103 Lozier Ave Unit 2 Warren, MI	1.0	1.0	600	$650	$1.08	45d	1	0.68mi
11236 Studebaker Ave Warren, MI	2.0	1.0	672	$1,175	$1.75	45d	1	0.86mi
11130 Stephens Rd Warren, MI	2.0	1.0	750	$1,275	$1.70	1d	1	1.21mi

Listing history 50 events

1. 2025-10-10
   price $107,656 295-char remark

   Show marketing remark (295 chars)

   We will entertain any creative scenario. Make us an offer. Land Contract, Lease with Option, must have some cash to put down and pass a background check. We love out-of-the-box opportunities. Got something to trade? Equity in something else, vacant land, expensive car? Possibilities are endless

2. 2025-10-09
   price $107,656 295-char remark

   Show marketing remark (295 chars)

   We will entertain any creative scenario. Make us an offer. Land Contract, Lease with Option, must have some cash to put down and pass a background check. We love out-of-the-box opportunities. Got something to trade? Equity in something else, vacant land, expensive car? Possibilities are endless

3. 2025-10-02
   status Active 295-char remark

   Show marketing remark (295 chars)

   We will entertain any creative scenario. Make us an offer. Land Contract, Lease with Option, must have some cash to put down and pass a background check. We love out-of-the-box opportunities. Got something to trade? Equity in something else, vacant land, expensive car? Possibilities are endless

4. 2025-10-02
   status Active 295-char remark

   Show marketing remark (295 chars)

   We will entertain any creative scenario. Make us an offer. Land Contract, Lease with Option, must have some cash to put down and pass a background check. We love out-of-the-box opportunities. Got something to trade? Equity in something else, vacant land, expensive car? Possibilities are endless

5. 2025-06-06
   status Pending 295-char remark

   Show marketing remark (295 chars)

   We will entertain any creative scenario. Make us an offer. Land Contract, Lease with Option, must have some cash to put down and pass a background check. We love out-of-the-box opportunities. Got something to trade? Equity in something else, vacant land, expensive car? Possibilities are endless

6. 2025-06-06
   status Pending 295-char remark

   Show marketing remark (295 chars)

   We will entertain any creative scenario. Make us an offer. Land Contract, Lease with Option, must have some cash to put down and pass a background check. We love out-of-the-box opportunities. Got something to trade? Equity in something else, vacant land, expensive car? Possibilities are endless

7. 2025-06-03
   listed $115,750 Active 295-char remark

   Show marketing remark (295 chars)

   We will entertain any creative scenario. Make us an offer. Land Contract, Lease with Option, must have some cash to put down and pass a background check. We love out-of-the-box opportunities. Got something to trade? Equity in something else, vacant land, expensive car? Possibilities are endless

8. 2025-06-03
   listed $115,750 Active 295-char remark

   Show marketing remark (295 chars)

   We will entertain any creative scenario. Make us an offer. Land Contract, Lease with Option, must have some cash to put down and pass a background check. We love out-of-the-box opportunities. Got something to trade? Equity in something else, vacant land, expensive car? Possibilities are endless

9. 2024-09-10
   historical
10. 2024-09-10
    historical
11. 2024-07-19
    listed $107,000 Active
12. 2024-07-19
    listed $107,000 Active
13. 2022-08-16
    soldstatus $100,000
14. 2022-01-29
    historical
15. 2022-01-29
    historical
16. 2022-01-20
    status Active
17. 2022-01-20
    status Active
18. 2022-01-18
    status Pending
19. 2022-01-18
    status Pending
20. 2022-01-16
    price $59,900
21. 2022-01-16
    price $59,900
22. 2022-01-04
    status Active
23. 2022-01-04
    status Active
24. 2021-12-22
    status Pending
25. 2021-12-21
    status Pending
26. 2021-12-15
    price $65,000
27. 2021-12-14
    price $65,000
28. 2021-12-06
    price $69,000
29. 2021-12-06
    price $69,000
30. 2021-11-23
    listed $69,900 Active
31. 2021-11-23
    listed $69,900 Active
32. 2020-09-21
    historical
33. 2020-09-21
    historical
34. 2020-08-12
    price $57,400
35. 2020-08-12
    price $57,400
36. 2020-07-15
    status Active
37. 2020-07-09
    historical
38. 2020-07-09
    listed $59,900 Active
39. 2020-07-09
    listed $59,900 Active
40. 2001-07-10
    soldstatus $38,050
41. 2000-04-20
    soldstatus $41,500
42. 1999-08-30
    historical
43. 1999-06-06
    listed $41,500
44. 1998-06-16
    soldstatus $43,500
45. 1998-06-03
    soldstatus $43,500
46. 1998-03-23
    historical
47. 1998-03-13
    listed $44,900
48. 1996-01-17
    soldstatus $28,900
49. 1995-12-20
    soldstatus $28,900
50. 1995-10-24
    historical

ⓘ 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: $2,304 · $192/mo
• Projected year-2 tax: $2,304 · $192/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: $14,254
• − Mortgage interest: −$6,030
• − Property taxes: −$2,304
• − Insurance: −$538
• − Repairs & maintenance: −$1,140
• − Management: −$1,140
• − Depreciation: −$3,132
• Taxable loss: −$31
• Est. tax savings @ 24.0%: +$7
• After-tax cash flow: $1,652/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): 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

+272.5% since first listed

51 events — show timeline

• 2025-10-10 Price Changed $107,656 MiRealSource-MiMLS
• 2025-10-09 Price Changed $107,656 REALCOMP
• 2025-10-02 Relisted — MiRealSource-MiMLS
• 2025-10-02 Relisted — REALCOMP
• 2025-06-06 Pending — MiRealSource-MiMLS
• 2025-06-06 Pending — REALCOMP
• 2025-06-03 Listed $115,750 REALCOMP
• 2025-06-03 Listed $115,750 MiRealSource-MiMLS
• 2024-09-10 Listing Removed — MiRealSource-MiMLS
• 2024-09-10 Listing Removed — REALCOMP
• 2024-07-19 Listed $107,000 MiRealSource-MiMLS
• 2024-07-19 Listed $107,000 REALCOMP
• 2022-08-16 Sold (Public Records) $100,000 Public Records
• 2022-01-29 Listing Removed — REALCOMP
• 2022-01-29 Listing Removed — MiRealSource-MiMLS
• 2022-01-20 Relisted — MiRealSource-MiMLS
• 2022-01-20 Relisted — REALCOMP
• 2022-01-18 Pending — MiRealSource-MiMLS
• 2022-01-18 Pending — REALCOMP
• 2022-01-16 Price Changed $59,900 MiRealSource-MiMLS
• 2022-01-16 Price Changed $59,900 REALCOMP
• 2022-01-04 Relisted — MiRealSource-MiMLS
• 2022-01-04 Relisted — REALCOMP
• 2021-12-22 Pending — MiRealSource-MiMLS
• 2021-12-21 Pending — REALCOMP
• 2021-12-15 Price Changed $65,000 MiRealSource-MiMLS
• 2021-12-14 Price Changed $65,000 REALCOMP
• 2021-12-06 Price Changed $69,000 MiRealSource-MiMLS
• 2021-12-06 Price Changed $69,000 REALCOMP
• 2021-11-23 Listed $69,900 MiRealSource-MiMLS
• 2021-11-23 Listed $69,900 REALCOMP
• 2020-09-21 Listing Removed — REALCOMP
• 2020-09-21 Listing Removed — MiRealSource-MiMLS
• 2020-08-12 Price Changed $57,400 MiRealSource-MiMLS
• 2020-08-12 Price Changed $57,400 REALCOMP
• 2020-07-15 Relisted — REALCOMP
• 2020-07-09 Listing Removed — REALCOMP
• 2020-07-09 Listed $59,900 MiRealSource-MiMLS
• 2020-07-09 Listed $59,900 REALCOMP
• 2001-07-10 Sold (Public Records) $38,050 Public Records
• 2000-04-20 Sold (MLS) $41,500 MiRealSource-MiMLS
• 1999-08-30 Listing Removed — MiRealSource-MiMLS
• 1999-06-06 Listed $41,500 MiRealSource-MiMLS
• 1998-06-16 Sold (Public Records) $43,500 Public Records
• 1998-06-03 Sold (MLS) $43,500 MiRealSource-MiMLS
• 1998-03-23 Listing Removed — MiRealSource-MiMLS
• 1998-03-13 Listed $44,900 MiRealSource-MiMLS
• 1996-01-17 Sold (MLS) $28,900 MiRealSource-MiMLS
• 1995-12-20 Sold (Public Records) $28,900 Public Records
• 1995-10-24 Listing Removed — MiRealSource-MiMLS
• 1995-05-06 Listed $28,900 MiRealSource-MiMLS

Property tax history

+11.0%/yr

Latest (2025): $2,304 · +2.6% YoY. Source: county tax records.