26648 Schoenherr Rd · Warren, MI 48089

$99,000

2 bd · 1.0 ba · 728 sqft · SingleFamily public records · 17 Days on market

Built 1949 9,060 sqft lot Est $135k · 26% 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 +26.8/30.0
• ARV discount +15.0/15.0
• DSCR +9.2/10.0
• 1% rule +7.6/10.0
• Livability +3.7/5.0
• Rent growth +3.2/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cozy bungalow with tremendous potential! Priced to sell, this home offers a great opportunity for investors, first-time buyers, or anyone looking to add their personal touch. While some TLC is needed, the home is comfortably livable as-is. Features include a first-floor guest bedroom, spacious upper-level primary bedroom, and convenient main-floor laundry. An oversized shed provides additional storage space. Situated on a generous lot with easy access to I-96, this property combines value, convenience, and opportunity. Agent Owned

Key facts

• Oversized shed
• Generous lot
• Easy access to i-96

Tags

• FIRST-FLOOR GUEST BEDROOM
• MAIN-FLOOR LAUNDRY
• OVERSIZED SHED
• GENEROUS LOT
• EASY ACCESS TO I-96

Property features AI

Finance

• Financial info: Annual tax: $1,861

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; One and one-half story; Ground-level entry with steps; Vinyl siding
• Construction: Vinyl siding construction
• Exterior features: Paved road access; Lot dimensions approximately 60 x 151

Interior

• Kitchen: Free-standing electric oven; Free-standing refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Free-standing electric oven; Free-standing refrigerator; Crawl space basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $272 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.6% 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.
• Warren Woods Public Schools (urban): math 23% / reading 40% proficiency, ranked #336 of 540 in MI (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.9%/yr); 160 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $684 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 + 2.9% rent growth), your $28k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 20y ago; this cycle's ask has dropped $11k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $19k; list at $99k implies a 421% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $97,515 (1.5% below list)

Questions for the listing agent

1. Built in 1949 — 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. 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?
5. 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.
6. 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.
7. 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: 1.26% ✓
• Cap rate: 9.60%
• Cash-on-cash: 11.80%
• DSCR: 1.52
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $134,680
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13640 Herbert Ave	0.32mi	2/1.0	724 (-0%)	20mo	$134,000	$185	68
13739 Harold Ave	0.47mi	2/1.0	720 (-1%)	15mo	$148,000	$206	64
13638 Harold Ave	0.49mi	2/1.0	768 (+6%)	22mo	$65,000	$85	49

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 · 2.94% rent growth · sell at horizon

5-year hold

• IRR: 1.2%
• Equity multiple: 1.05×
• Total profit: $1,275
• Equity at exit: $14,761

10-year hold

• IRR: 10.8%
• Equity multiple: 1.84×
• Total profit: $23,304
• Equity at exit: $8,560

Cash invested: $27,720 (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 48089

• Rents YoY: 2.9%
• Active inventory: 160
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,251 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$155 /mo · $1,861/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $272

Break-even live

Break-even rent $906

Max offer price $99,000

Occupancy floor 73%

Sensitivity live

Price	-10% $329	-5% $301	+0% $272	+5% $244	+10% $216
Rent	-10% $174	-5% $223	+0% $272	+5% $322	+10% $371
Rate	-1.0pp $322	-0.5pp $298	base $272	+0.5pp $247	+1.0pp $221

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
26160 Regency Club Dr Warren, MI	1.0–3.0	1.0–2.0	1011	$1,470	$1.45	2d	15	0.93mi
27239 Hoover Rd Warren, MI	1.0–2.0	1.0	670	$945	$1.41	44d	1	1.06mi
25108 Hoover Rd Warren, MI	1.0–2.0	1.0	702	$1,324	$1.88	2d	65	1.27mi
28801 Imperial Dr Warren, MI	1.0–2.0	1.0	887	$1,205	$1.36	17d	6	1.28mi

Listing history 14 events

1. 2026-06-19
   remarks 613-char remark
2. 2026-06-18
   days on market $99,000 Active 17 DOM
3. 2026-06-17
   days on market $99,000 Active 16 DOM
4. 2026-06-16
   days on market $99,000 Active 15 DOM
5. 2026-06-15
   days on market $99,000 Active 14 DOM
6. 2026-06-13
   days on market $99,000 Active 12 DOM
7. 2026-06-13
   days on market $99,000 Active 11 DOM
8. 2026-06-09
   days on market $99,000 Active 8 DOM
9. 2026-06-08
   pricedays on market $99,000 Active 7 DOM
10. 2026-06-07
    days on market $109,900 Active 6 DOM
11. 2026-06-04
    days on market $109,900 Active 3 DOM
12. 2026-06-03
    days on market $109,900 Active 2 DOM
13. 2026-06-02
    remarks 536-char remark
14. 2026-06-02
    listed $109,900 Active 1 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: $1,861 · $155/mo
• Projected year-2 tax: $1,861 · $155/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 ≥96°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: $15,008
• − Mortgage interest: −$5,546
• − Property taxes: −$1,861
• − Insurance: −$495
• − Repairs & maintenance: −$1,201
• − Management: −$1,201
• − Depreciation: −$2,880
• Taxable income: $1,825
• Est. tax owed @ 24.0%: −$438
• After-tax cash flow: $2,832/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 Woods Public Schools
• NCES district ID: 2635220
• Math proficiency: 23% ▼ -9.00%
• Reading proficiency: 40% ▼ -5.00%
• Median HH income: $49,013
• Composite: 27.29/100
• National rank: #7003
• State rank: #336 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): 31,853
• Household income: $52,366
• Rent vs Own: 43.4% rent · 56.6% own
• Severe rent burden: 1754.0

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 0.61)
• Race & ethnicity: White 53% Black 31% Asian 7% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Romanian 11% Lithuanian 3% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Other Asian/Pacific 3% Other Indo-European 2% Arabic 1%

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: ▼ -211.46%
• Current HPI: 154.8325
• Rent YoY: ▲ 2.94%
• 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

+214.0% since first listed

12 events — show timeline

• 2026-06-01 Listed $109,900 REALCOMP
• 2026-06-01 Listed $109,900 MiRealSource-MiMLS
• 2010-10-18 Sold (MLS) $19,000 REALCOMP
• 2010-10-18 Sold (MLS) $19,000 MiRealSource-MiMLS
• 2010-07-29 Listing Removed — MiRealSource-MiMLS
• 2010-07-15 Listed $19,900 REALCOMP
• 2010-07-15 Listed $19,900 MiRealSource-MiMLS
• 2007-12-25 Listing Removed — REALCOMP
• 2007-09-25 Listed $99,000 REALCOMP
• 2007-03-01 Listing Removed — REALCOMP
• 2006-09-27 Listed $99,000 REALCOMP
• 1990-02-27 Sold (Public Records) $35,000 Public Records

Property tax history

+2.6%/yr

Latest (2025): $1,861 · +2.6% YoY. Source: county tax records.