29609 Mark Ave · Madison Heights, MI 48071

$234,900

3 bd · 1.5 ba · 1,538 sqft · SingleFamily public records · 6 Days on market

Built 1955 6,970 sqft lot Est $329k · 29% 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 +19.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.2/10.0
• 1% rule +5.0/10.0
• Livability +4.0/5.0
• Schools +3.3/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * * MULTIPLE OFFERS RECEIVED!! I need highest and best by 8pm Friday 6/12/26! * * * * Here is the charming mid-century modern ranch you've been waiting for! Welcome home to this beautifully cared-for home featuring three bedrooms all featuring the original vintage hardwood floors. The main bathroom features authentic 1950's tiles and it is so clean, you won't believe that it's vintage - and there is a half bathroom in the finished basement too! You'll love the large, eat-in kitchen and there are so many possibilities if you want to expand it or update it. Just off the kitchen is an awesome sunroom addition providing another living room, craft room, office or entertaining/relaxing space. Set on a nicely landscaped corner lot in a peaceful neighborhood, this home boasts curb appeal and has a fully fenced yard. There is ample space for entertaining, gardening, or playing in this yard and there's even a built in charcoal grill for those fun BBQ's and get-togethers with friends and loved ones! The detached 1.5-car garage offers secure parking and storage, while the finished basement adds valuable additional living space - ideal for a home office, workshop, recreation area, or extra storage, and there is a half bathroom and laundry room area also! Meticulous maintenance and pride of ownership is evident throughout. This is a great opportunity to own a fabulous home with good, solid bones and endless potential in Madison Heights. This home is within the Lamphere School District, which has earned the prestigious National Blue Ribbon School designation and is zoned for Lessenger Elementary and John Page Middle School. Updates include: Updated electrical, Weather Guard windows throughout (with ten more years left on the transferrable warranty), Sunroom, and New tear off roof in 2021! Priced lower than the competition to reflect the needed updates so don't miss out on this one and call today to schedule a showing! Immediate Occupancy. BATVAI and homestead taxes.

Key facts

• Sunroom addition
• Fully fenced yard
• 6,970 sq ft lot

Tags

• MID-CENTURY MODERN RANCH
• AUTHENTIC 1950'S TILES
• SUNROOM ADDITION
• LANDSCAPED CORNER LOT
• FULLY FENCED YARD
• BUILT IN CHARCOAL GRILL

Property features AI

Exterior

• Parking: Detached garage; 2 garage spaces; Driveway; Garage door opener; Garage with workshop area; Assigned parking; Garage faces rear/side
• Utilities: Public water; Public sewer; Circuit breaker electric service; Sewer available
• Home design: Single-family residence; One level; Ground-level entry; Brick construction
• Construction: Brick construction; Asphalt roof; Partially finished basement (with bath stubbed)
• Exterior features: Porch; Barbecue; Back yard with fencing (fenced); Corner lot; Paved road access

Interior

• Kitchen: Free-standing refrigerator; Free-standing freezer
• Bedrooms: Total of 6 rooms (bedroom count not specified)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air; Attic fan; Ceiling fans; Forced air heating (natural gas)
• Interior features: ENERGY STAR qualified windows; Partially finished basement with bath rough-in
• Laundry & utility: Laundry room; Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $266 ($3k/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 $234k (0.4% below list).
• Recommended offer: $234k (0.4% below list) — sets the bar for 1% rule.
• Cap rate 7.7% vs local median 5.7% in Madison Heights — 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 81/100 on livability (#62 in MI, #1,347 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D+, health & safety D.
• Lamphere Public Schools (suburban): math 28% / reading 49% proficiency, ranked #235 of 540 in MI (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.8%/yr); 135 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).
• This rent runs 40% of the median local income ($70k/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.
• Oakland County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $234,013 (0.4% below list)

Questions for the listing agent

1. Built in 1955 — 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: 1.00% ✗
• Cap rate: 7.65%
• Cash-on-cash: 4.86%
• DSCR: 1.22
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $329,132
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2611 N Wilson Ave	0.34mi	3/2.0	1,539 (+0%)	6mo	$385,000	$250	77
30344 Garry Ave	0.39mi	3/1.0	1,521 (-1%)	4mo	$230,900	$152	75
2612 N Wilson Ave	0.32mi	3/2.0	1,641 (+7%)	0mo	$344,000	$210	72
29361 Mark Ave	0.12mi	3/1.5	1,740 (+13%)	1mo	$281,500	$162	72
30725 Whittier Ave	0.57mi	3/2.0	1,579 (+3%)	1mo	$315,000	$199	66
3202 N Wilson Ave	0.61mi	3/2.0	1,522 (-1%)	4mo	$325,000	$214	64
1617 N Vermont Ave	0.64mi	3/2.0	1,587 (+3%)	0mo	$420,000	$265	63
3015 N Vermont Ave	0.61mi	3/1.0	1,680 (+9%)	0mo	$301,900	$180	54
2918 N Altadena Ave	0.67mi	3/2.0	1,682 (+9%)	2mo	$370,000	$220	49
2926 N Altadena Ave	0.69mi	3/1.0	1,395 (-9%)	3mo	$316,000	$227	48
30791 Whittier Ave	0.58mi	3/1.5	1,765 (+15%)	1mo	$302,500	$171	48
1205 N Wilson Ave	0.73mi	3/1.5	1,354 (-12%)	2mo	$335,000	$247	44

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 · 2.81% rent growth · sell at horizon

5-year hold

• IRR: -8.9%
• Equity multiple: 0.67×
• Total profit: $-21,548
• Equity at exit: $35,024

10-year hold

• IRR: 0.3%
• Equity multiple: 1.02×
• Total profit: $1,281
• Equity at exit: $20,310

Cash invested: $65,772 (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 48071

• Rents YoY: 2.8%
• Active inventory: 135
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,340 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$253 /mo · $3,034/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$491
• Net cashflow: $266

Break-even live

Break-even rent $2,003

Max offer price $234,900

Occupancy floor 84%

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: $58,725
• Closing costs: $7,047
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
642 Bellaire Ave Madison Heights, MI	3.0	2.5	1750	$2,423	$1.38	21d	1	0.73mi
1132 N Campbell Rd Royal Oak, MI	1.0–3.0	1.0–1.5	1050	$2,085	$1.99	1d	7	0.79mi
1106 Grove Ave Royal Oak, MI	4.0	2.5	1289	$2,325	$1.80	1d	1	0.82mi
614 E 13 Mile Rd Royal Oak, MI	2.0	1.0	1434	$2,995	$2.09	1d	1	0.91mi
508 Marlin Ave Royal Oak, MI	3.0	2.5	1678	$3,000	$1.79	20d	1	0.98mi
300 E Thirteen Mile Rd Madison Heights, MI	2.0	1.5	1350	$1,475	$1.09	17d	1	1.07mi
324 E Thirteen Mile Rd Madison Heights, MI	1.0–2.0	1.0–1.5	950	$1,775	$1.87	2d	1	1.12mi
2702 N Main St Royal Oak, MI	3.0	1.5	1500	$2,350	$1.57	2d	1	1.19mi
29607 Howard Ave Madison Heights, MI	3.0	2.5	1956	$1,950	$1.00	43d	1	1.20mi
709 Hawthorn Ave Royal Oak, MI	3.0	1.5	2248	$3,000	$1.33	24d	1	1.21mi
406 N Campbell Rd Royal Oak, MI	3.0	2.0	1814	$2,500	$1.38	1d	1	1.22mi
1608 Bauman Ave Royal Oak, MI	3.0	1.5	1233	$2,300	$1.87	1d	1	1.23mi
317 E Irving Ave Madison Heights, MI	2.0	2.5	1560	$2,700	$1.73	1d	1	1.24mi
1814 N Center St Royal Oak, MI	3.0	1.5	1072	$1,790	$1.67	3d	1	1.28mi
1045 E 12 Mile Rd Madison Heights, MI	3.0	1.0	1700	$4,000	$2.35	1d	1	1.39mi
1712 Midtown Cir Royal Oak, MI	2.0–3.0	2.0–2.5	1550	$2,901	$1.87	1d	8	1.41mi
211 Woodsboro Dr Unit LOWER Royal Oak, MI	3.0	2.0	1800	$1,425	$0.79	24d	1	1.41mi
3810 S Rochester Rd Royal Oak, MI	2.0	1.5	1208	$1,800	$1.49	24d	1	1.42mi
1414 Crooks Rd Unit 2 Royal Oak, MI	3.0	2.0	1400	$1,800	$1.29	24d	1	1.43mi

Listing history 5 events

1. 2026-06-17
   status $234,900 Pending 6 DOM
2. 2026-06-16
   days on market $234,900 Active 6 DOM
3. 2026-06-15
   days on market $234,900 Active 5 DOM
4. 2026-06-13
   remarks 699-char remark
5. 2026-06-13
   listed $234,900 Active 3 DOM

ⓘ 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: $3,034 · $253/mo
• Projected year-2 tax: $3,326 · $277/mo
• Expected delta: +$292/yr (+$24/mo · 9.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 45% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°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: $28,082
• − Mortgage interest: −$13,158
• − Property taxes: −$3,034
• − Insurance: −$1,174
• − Repairs & maintenance: −$2,247
• − Management: −$2,247
• − Depreciation: −$6,833
• Taxable loss: −$611
• Est. tax savings @ 24.0%: +$147
• After-tax cash flow: $3,341/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: Lamphere Public Schools
• NCES district ID: 2621120
• Math proficiency: 28% ▼ -8.00%
• Reading proficiency: 49% ▲ 1.00%
• Median HH income: $44,993
• Composite: 32.69/100
• National rank: #5649
• State rank: #235 of 540 in MI

Livability — Madison Heights

• Score: 81/100
• State rank: #62
• US rank: #1347

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Madison Heights, MI
• County: Oakland County · 1,009,092 people
• City population: 28,419
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 28,419
• Household income: $69,503
• Rent vs Own: 35.2% rent · 64.8% own
• Severe rent burden: 786.0

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 (79%)
• Race & ethnicity: White 79% Black 7% Asian 7% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 11% Lithuanian 3% Slovak 2%
• Foreign-born: 14% · China, Canada, South Korea
• Languages at home: 84% English-only · Chinese 3% Other Indo-European 3% Arabic 2%

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: ▼ -275.69%
• Current HPI: 243.4861
• Rent YoY: ▲ 2.81%
• 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

3 events — show timeline

• 2026-06-11 Listed $234,900 MiRealSource-MiMLS
• 2026-06-11 Listed $234,900 REALCOMP
• 2026-06-11 Coming Soon $234,900 MiRealSource-MiMLS

Property tax history

+2.3%/yr

Latest (2025): $3,034 · +3.0% YoY. Source: county tax records.