1967 Waltz Ave · Warren, MI 48091

$110,000

3 bd · 1.0 ba · 888 sqft · SingleFamily public records · 66 Days on market

Built 1959 4,792 sqft lot $124/sqft · 31% below area Est $160k · 31% under

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Why this score? — see what drove the B 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• 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

TENANT OCCUPIED! Ranch home in Warren with 3 bedrooms and 1 bath. Fenced in yard. Photos from before tenant occupancy. Tenant since 2015, paying $1,025 - currently in active lease agreement until 4/2026.

Key facts

• Fenced in yard
• 4,792 sq ft lot
• Built 1959

Tags

• FENCED IN YARD

🏷️ Possibly a rental listed for sale. The $110,000 price doesn't fit this home's estimated sale value (~$159,800) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $419 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $103k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 5.3% 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: schools D, amenities D, employment 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.
• Market conditions: Rents rising (+2.4%/yr); 168 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 34% 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 $761 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.
• At projected returns (-3.0% appreciation + 2.4% rent growth), your $31k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 12y 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 $74k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $103,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1959 — 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. 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: 1.40% ✓
• Cap rate: 10.87%
• Cash-on-cash: 16.33%
• DSCR: 1.73
• GRM: 6.0

CMA / ARV

• ARV (median comp): $159,800
• List price: $110,000
• Delta: -31.16%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1644 E Goulson Ave	0.34mi	3/1.0	952 (+7%)	0mo	$139,950	$147	72
2007 Pearl Ave	0.41mi	3/1.0	937 (+6%)	2mo	$131,500	$140	70
1721 E Woodward Heights Blvd	0.44mi	4/2.0 (+1)	868 (-2%)	2mo	$117,200	$135	65
23392 Cayuga Ave	0.67mi	2/1.0 (-1)	875 (-2%)	1mo	$145,000	$166	61
2184 Garrick Ave	0.58mi	3/1.0	960 (+8%)	1mo	$95,100	$99	59
3342 Bart St	0.56mi	2/1.0 (-1)	942 (+6%)	1mo	$95,000	$101	57
23826 Kate Ave	0.34mi	3/2.0	996 (+12%)	4mo	$173,000	$174	57
23384 Vassar Ave	0.72mi	3/1.0	940 (+6%)	0mo	$212,000	$226	57
23036 Couzens Ave	0.61mi	3/1.0	973 (+10%)	1mo	$215,000	$221	55
3471 Los Angeles Ave	0.61mi	3/1.0	988 (+11%)	2mo	$140,000	$142	51
2120 Pearl Ave	0.44mi	2/1.0 (-1)	756 (-15%)	1mo	$113,000	$149	49
1521 E Granet Ave	0.63mi	3/2.0	1,000 (+13%)	3mo	$195,000	$195	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: 6.6%
• Equity multiple: 1.26×
• Total profit: $7,924
• Equity at exit: $16,401

10-year hold

• IRR: 15.4%
• Equity multiple: 2.21×
• Total profit: $37,419
• Equity at exit: $9,511

Cash invested: $30,800 (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: 6.0×

Monthly cashflow live

• Estimated rent: $1,539 high
• Mortgage (P&I): −$577
• Tax from tax record: −$174 /mo · $2,087/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $419

Break-even live

Break-even rent $1,008

Max offer price $110,000

Occupancy floor 68%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23077 Davey Ave Hazel Park, MI	3.0	1.0	933	$1,895	$2.03	24d	1	0.19mi
2709 Capitol Ave Warren, MI	3.0	2.0	1056	$1,649	$1.56	43d	1	0.33mi
1770 E Woodward Heights Blvd Hazel Park, MI	2.0	1.0	850	$1,525	$1.79	12d	1	0.36mi
1770 E Woodward Heights Blvd Hazel Park, MI	1.0–2.0	1.0	712	$1,400	$1.96	5d	1	0.36mi
1770 E Woodward Heights Blvd Unit E3 Hazel Park, MI	2.0	1.0	850	$1,300	$1.53	24d	1	0.36mi
1731 E Pearl Ave Hazel Park, MI	3.0	1.0	844	$1,500	$1.78	20d	1	0.43mi
1045 E Woodward Heights Blvd Hazel Park, MI	1.0–2.0	1.0	715	$1,209	$1.69	24d	3	0.71mi
21516 Dequindre Rd Warren, MI	1.0–2.0	1.0	837	$1,375	$1.64	21d	1	0.75mi
1621 E Evelyn Ave Hazel Park, MI	2.0	1.0	749	$1,295	$1.73	18d	1	0.75mi
23115 Tawas Ave Hazel Park, MI	2.0	1.0	706	$1,375	$1.95	24d	1	0.77mi
23345 Tawas Ave Hazel Park, MI	3.0	1.0	1000	$1,550	$1.55	10d	1	0.77mi
3840 Bart Ave Warren, MI	3.0	1.0	1062	$1,350	$1.27	24d	1	0.78mi
1326 E Evelyn Ave Unit 1032332P Hazel Park, MI	3.0	2.0	1097	$6,448	$5.88	1d	1	0.85mi
23773 Hazelwood Ave Hazel Park, MI	2.0	1.0	671	$1,400	$2.09	12d	1	0.86mi
25151 Dequindre Rd Madison Heights, MI	3.0	2.0	1088	$1,279	$1.18	23d	1	0.94mi
21155 Warner Ave Warren, MI	2.0	1.0	756	$1,029	$1.36	24d	1	0.95mi
1211 E Bernhard Ave Hazel Park, MI	2.0	1.0	721	$1,500	$2.08	24d	1	1.00mi
2034 John B Ave Warren, MI	3.0	1.0	920	$1,261	$1.37	43d	1	1.04mi
1019 E Hayes Ave Unit 1032331P Hazel Park, MI	3.0	1.0	1033	$5,301	$5.13	1d	1	1.13mi
266 W Goulson Ave Hazel Park, MI	3.0	1.0	942	$1,600	$1.70	21d	1	1.26mi
90 W Meyers Ave Hazel Park, MI	2.0	1.0	831	$1,800	$2.17	24d	1	1.30mi
407 E Hayes Ave Hazel Park, MI	3.0	1.0	1000	$1,750	$1.75	24d	1	1.35mi
22580 Masch Ave Warren, MI	3.0	1.0	988	$1,450	$1.47	24d	1	1.38mi
20255 Harned St Detroit, MI	3.0	1.0	1000	$1,374	$1.37	16d	1	1.40mi
2023 Ardmore Dr Ferndale, MI	2.0	1.0	771	$1,250	$1.62	24d	1	1.45mi

Listing history 16 events

1. 2026-03-16
   listed $110,000 Active 203-char remark

   Show marketing remark (203 chars)

   TENANT OCCUPIED! Ranch home in Warren with 3 bedrooms and 1 bath. Fenced in yard. Photos from before tenant occupancy. Tenant since 2015, paying $1,025 - currently in active lease agreement until 4/2026.

2. 2026-03-16
   listed $110,000 Active 203-char remark

   Show marketing remark (203 chars)

   TENANT OCCUPIED! Ranch home in Warren with 3 bedrooms and 1 bath. Fenced in yard. Photos from before tenant occupancy. Tenant since 2015, paying $1,025 - currently in active lease agreement until 4/2026.

3. 2026-03-16
   listed $110,000 Active

   Show marketing remark (203 chars)

   TENANT OCCUPIED! Ranch home in Warren with 3 bedrooms and 1 bath. Fenced in yard. Photos from before tenant occupancy. Tenant since 2015, paying $1,025 - currently in active lease agreement until 4/2026.

4. 2018-06-04
   soldstatus $74,200
5. 2015-03-30
   soldstatus $775
6. 2015-03-20
   historical
7. 2014-12-22
   listed $775
8. 2014-11-14
   soldstatus $37,500
9. 2014-11-14
   soldstatus $37,500
10. 2014-11-14
    soldstatus $37,500 Sold
11. 2014-11-08
    historical
12. 2014-11-08
    historical
13. 2014-11-06
    price $35,000
14. 2014-10-09
    listed $35,000
15. 2014-10-09
    listed $35,000
16. 2014-10-09
    listed $39,900 Active

ⓘ 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: $2,087 · $174/mo
• Projected year-2 tax: $2,087 · $174/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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,468
• − Mortgage interest: −$6,162
• − Property taxes: −$2,087
• − Insurance: −$550
• − Repairs & maintenance: −$1,477
• − Management: −$1,477
• − Depreciation: −$3,200
• Taxable income: $3,515
• Est. tax owed @ 24.0%: −$844
• After-tax cash flow: $4,188/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

+214.3% since first listed

16 events — show timeline

• 2026-03-16 Listed $110,000 REALCOMP
• 2026-03-16 Listed $110,000 SW Michigan MLS
• 2026-03-16 Listed $110,000 MiRealSource-MiMLS
• 2018-06-04 Sold (Public Records) $74,200 Public Records
• 2015-03-30 Sold (MLS) $775 MiRealSource-MiMLS
• 2015-03-20 Listing Removed — MiRealSource-MiMLS
• 2014-12-22 Listed $775 MiRealSource-MiMLS
• 2014-11-14 Sold (MLS) $37,500 REALCOMP
• 2014-11-14 Sold (MLS) $37,500 MiRealSource-MiMLS
• 2014-11-14 Sold (MLS) $37,500 MiRealSource-MiMLS
• 2014-11-08 Listing Removed — REALCOMP
• 2014-11-08 Listing Removed — MiRealSource-MiMLS
• 2014-11-06 Price Changed $35,000 REALCOMP
• 2014-10-09 Listed $39,900 REALCOMP
• 2014-10-09 Listed $35,000 MiRealSource-MiMLS
• 2014-10-09 Listed $35,000 MiRealSource-MiMLS

Property tax history

+6.0%/yr

Latest (2025): $2,087 · +2.6% YoY. Source: county tax records.