2469 Ferris Ave · Lincoln Park, MI 48146

$214,900

3 bd · 1.0 ba · 1,026 sqft · SingleFamily public records · 9 Days on market

Built 1955 4,356 sqft lot Est $144k · 50% over

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Why this score? — see what drove the F 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 +6.8/30.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• 1% rule +1.2/10.0
• DSCR +1.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this beautiful 3-bedroom, 1-bath brick ranch featuring a beautiful electric fireplace, luxury vinyl plank flooring, new carpeting, brand new counter tops, new back splash, brand new stainless steel appliances, fresh paint, tiled shower with sliding glass door, a partially finished basement for gatherings, and a spacious backyard perfect for summer nights. Don't miss out - homes like this don't last long! Ideally situated near I-75, schools, shopping centers, malls and lovely parks, this location offers both convenience and community. Don't miss out on this move-in-ready home!

Key facts

• 4,356 sq ft lot
• 2 garage spots
• Built 1955

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level; Ground-level entry with steps; Brick exterior
• Construction: Block foundation
• Exterior features: Paved road access; Lot approximately 0.1 acre (40 x 108)

Interior

• Bedrooms: Total rooms: 3
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Partially finished basement; Basement present

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $-338 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $155k (27.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $133k (38.1% below list).
• Recommended offer: $133k (38.1% below list) — sets the bar for 1% rule.
• Cap rate 4.4% vs local median 6.5% in Lincoln Park — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 80/100 on livability (#82 in MI, #1,720 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment D-.
• Lincoln Park School District (suburban): math 15% / reading 32% proficiency, ranked #440 of 540 in MI (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Keppen School (math 22% / reading 27%, grade F, #980 of 1,397 statewide, top 74%, 341 students, 96% FRL); Lincoln Park Middle School (math 12% / reading 35%, grade F, #399 of 493 statewide, top 81%, 1,105 students, 86% FRL); Lincoln Park High School (math 5% / reading 33%, grade F, #630 of 713 statewide, top 88%, 1,367 students, 79% FRL).
• Market conditions: Rents rising fast (+4.7%/yr); 154 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 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.
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 9 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.

Recommended offer $133,062 (38.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is F 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?
6. 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?
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: 0.62% ✗
• Cap rate: 4.41%
• Cash-on-cash: -6.73%
• DSCR: 0.70
• GRM: 13.5

CMA / ARV

• ARV (on-the-fly): $143,640
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1042 Champaign Rd	0.07mi	3/1.0	1,152 (+12%)	3mo	$150,500	$131	74
1215 Mill St	0.29mi	2/1.0 (-1)	1,054 (+3%)	5mo	$110,000	$104	72
816 London Ave	0.28mi	3/1.0	944 (-8%)	2mo	$187,000	$198	71
939 Stewart Ave	0.35mi	3/1.0	912 (-11%)	1mo	$138,000	$151	64
2458 River Dr	0.67mi	3/1.0	1,078 (+5%)	1mo	$144,000	$134	59
1415 Richmond Ave	0.49mi	3/1.0	1,134 (+10%)	2mo	$165,000	$146	58
1311 Gregory St	0.57mi	3/1.0	1,128 (+10%)	1mo	$145,900	$129	56
1377 Mill St	0.47mi	2/1.0 (-1)	1,124 (+10%)	2mo	$157,000	$140	55
568 Garfield Ave	0.59mi	3/1.0	1,116 (+9%)	4mo	$142,000	$127	55
483 Park Ave	0.70mi	3/2.0	988 (-4%)	3mo	$206,000	$209	54
1512 Marion Ave	0.75mi	3/2.0	1,056 (+3%)	6mo	$195,000	$185	52
1580 Richmond Ave	0.64mi	2/1.0 (-1)	924 (-10%)	4mo	$127,500	$138	46

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 · 4.65% rent growth · sell at horizon

5-year hold

• IRR: -26.3%
• Equity multiple: 0.10×
• Total profit: $-54,122
• Equity at exit: $32,042

10-year hold

• IRR: -19.1%
• Equity multiple: -0.09×
• Total profit: $-65,450
• Equity at exit: $18,581

Cash invested: $60,172 (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 48146

• Home prices YoY: -32.7%
• Rents YoY: 4.7%
• Active inventory: 154
• Price-to-rent: 13.5×

Monthly cashflow live

• Estimated rent: $1,331 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$172 /mo · $2,068/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $-338

Break-even live

Break-even rent $1,758

Max offer price $155,252

Occupancy floor —

Sensitivity live

Price	-10% $-216	-5% $-277	+0% $-338	+5% $-398	+10% $-459
Rent	-10% $-443	-5% $-390	+0% $-338	+5% $-285	+10% $-233
Rate	-1.0pp $-229	-0.5pp $-283	base $-338	+0.5pp $-393	+1.0pp $-450

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: $53,725
• Closing costs: $6,447
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1343 Pagel Ave Unit 2-Upper Lincoln Park, MI	2.0	1.0	1000	$1,250	$1.25	20d	1	0.52mi
1581 Empire Ave Lincoln Park, MI	2.0	1.0	900	$1,350	$1.50	26d	1	0.68mi
1537 Chandler Ave Lincoln Park, MI	2.0	1.0	725	$1,100	$1.52	19d	1	0.73mi
1473 Empire Ave Lincoln Park, MI	3.0	2.0	1342	$1,700	$1.27	0d	1	0.79mi
1552 Hanover St Lincoln Park, MI	2.0	1.0	800	$1,250	$1.56	26d	1	0.85mi
357 Emmons Blvd Lincoln Park, MI	3.0	1.0	1268	$1,695	$1.34	0d	1	0.85mi
1331 Pingree Ave Lincoln Park, MI	2.0	1.0	725	$1,300	$1.79	1d	1	0.95mi
1532 Euclid St #1 Lincoln Park, MI	2.0	1.0	850	$1,450	$1.71	26d	1	0.99mi
708 Highland St Unit 1 Wyandotte, MI	2.0	1.0	800	$950	$1.19	20d	1	1.03mi
1524 Cicotte Ave Lincoln Park, MI	2.0	1.0	900	$1,250	$1.39	17d	1	1.14mi
4573 3rd St Ecorse, MI	2.0	1.0	1000	$1,300	$1.30	17d	1	1.15mi
4282 7th St Ecorse, MI	3.0	1.0	1144	$1,250	$1.09	26d	1	1.25mi
854 Harrison Blvd Lincoln Park, MI	3.0	1.0	1410	$1,750	$1.24	45d	1	1.27mi
750 Harrison Blvd Unit 5 Lincoln Park, MI	2.0	1.0	800	$995	$1.24	7d	1	1.27mi
610 Harrison Blvd Unit 46 Lincoln Park, MI	2.0	1.0	800	$995	$1.24	4d	1	1.28mi
610 Harrison Blvd Apt 43 Lincoln Park, MI	2.0	1.0	800	$1,050	$1.31	26d	1	1.28mi
720 Harrison Blvd Unit 20 Lincoln Park, MI	2.0	1.0	800	$1,025	$1.28	4d	1	1.28mi
424 4th St Wyandotte, MI	2.0	1.0	925	$1,350	$1.46	26d	1	1.29mi
2235 Moore Rd Unit 1 Lincoln Park, MI	2.0	1.0	800	$1,000	$1.25	26d	1	1.38mi
4015 16th St Ecorse, MI	3.0	1.5	1170	$1,300	$1.11	26d	1	1.40mi
3575 S Ethel St Detroit, MI	3.0	1.0	894	$1,350	$1.51	19d	1	1.40mi
4581 High St Unit 13 Ecorse, MI	2.0	1.0	700	$1,050	$1.50	26d	1	1.41mi
1750 Saint Johns Blvd Unit 17 Lincoln Park, MI	2.0	1.0	750	$1,025	$1.37	26d	1	1.41mi
1760 Saint Johns Blvd Apt 14 Lincoln Park, MI	2.0	1.0	750	$995	$1.33	26d	1	1.42mi
4471 High St Unit 71-7 Ecorse, MI	2.0	1.0	700	$1,150	$1.64	26d	1	1.46mi
4471 High St Unit 81-13 Ecorse, MI	2.0	1.0	700	$1,050	$1.50	26d	1	1.46mi
4435 High St Ecorse, MI	2.0	1.0	792	$1,095	$1.38	7d	1	1.48mi
1774 College Ave Lincoln Park, MI	3.0	1.0	944	$1,525	$1.62	0d	1	1.50mi

Listing history 4 events

1. 2026-05-16
   status Pending 598-char remark

   Show marketing remark (598 chars)

   Welcome home to this beautiful 3-bedroom, 1-bath brick ranch featuring a beautiful electric fireplace, luxury vinyl plank flooring, new carpeting, brand new counter tops, new back splash, brand new stainless steel appliances, fresh paint, tiled shower with sliding glass door, a partially finished basement for gatherings, and a spacious backyard perfect for summer nights. Don't miss out - homes like this don't last long! Ideally situated near I-75, schools, shopping centers, malls and lovely parks, this location offers both convenience and community. Don't miss out on this move-in-ready home!

2. 2026-05-16
   status Pending

   Show marketing remark (598 chars)

   Welcome home to this beautiful 3-bedroom, 1-bath brick ranch featuring a beautiful electric fireplace, luxury vinyl plank flooring, new carpeting, brand new counter tops, new back splash, brand new stainless steel appliances, fresh paint, tiled shower with sliding glass door, a partially finished basement for gatherings, and a spacious backyard perfect for summer nights. Don't miss out - homes like this don't last long! Ideally situated near I-75, schools, shopping centers, malls and lovely parks, this location offers both convenience and community. Don't miss out on this move-in-ready home!

3. 2026-05-07
   listed $214,900 Active 598-char remark

   Show marketing remark (598 chars)

   Welcome home to this beautiful 3-bedroom, 1-bath brick ranch featuring a beautiful electric fireplace, luxury vinyl plank flooring, new carpeting, brand new counter tops, new back splash, brand new stainless steel appliances, fresh paint, tiled shower with sliding glass door, a partially finished basement for gatherings, and a spacious backyard perfect for summer nights. Don't miss out - homes like this don't last long! Ideally situated near I-75, schools, shopping centers, malls and lovely parks, this location offers both convenience and community. Don't miss out on this move-in-ready home!

4. 2026-05-07
   listed $214,900 Active

   Show marketing remark (598 chars)

   Welcome home to this beautiful 3-bedroom, 1-bath brick ranch featuring a beautiful electric fireplace, luxury vinyl plank flooring, new carpeting, brand new counter tops, new back splash, brand new stainless steel appliances, fresh paint, tiled shower with sliding glass door, a partially finished basement for gatherings, and a spacious backyard perfect for summer nights. Don't miss out - homes like this don't last long! Ideally situated near I-75, schools, shopping centers, malls and lovely parks, this location offers both convenience and community. Don't miss out on this move-in-ready home!

ⓘ 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: $2,068 · $172/mo
• Projected year-2 tax: $2,689 · $224/mo
• Expected delta: +$621/yr (+$52/mo · 30.0%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 21% 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: $15,967
• − Mortgage interest: −$12,038
• − Property taxes: −$2,068
• − Insurance: −$1,074
• − Repairs & maintenance: −$1,277
• − Management: −$1,277
• − Depreciation: −$6,252
• Taxable loss: −$8,019
• Est. tax savings @ 24.0%: +$1,925
• After-tax cash flow: $-2,127/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: Lincoln Park School District
• NCES district ID: 2621600
• Math proficiency: 15% ▼ -5.00%
• Reading proficiency: 32% ▬ 0.00%
• Median HH income: $41,486
• Composite: 19.93/100
• National rank: #8678
• State rank: #440 of 540 in MI

Livability — Lincoln Park

• Score: 80/100
• State rank: #82
• US rank: #1720

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lincoln Park, MI
• County: Wayne County · 1,562,939 people
• City population: 39,257
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 39,257
• Household income: $58,616
• Rent vs Own: 31.2% rent · 68.8% own
• Severe rent burden: 1142.0

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 1,675,273 people
• By 2030: 1,620,300 · -3.3%
• By 2040: 1,502,341 · -10.3%
• By 2050: 1,384,039 · -17.4%
• By 2075: 1,124,592 · -32.9%
• By 2100: 881,193 · -47.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 60% Hispanic / Latino 25% Two or more races 12% Black 9% Native American 1%
• Hispanic origin (detail): Mexican 19% Puerto Rican 3%
• Common ancestry: Romanian 6% Lithuanian 4% Slovak 1%
• Foreign-born: 9% · Canada
• Languages at home: 80% English-only · Spanish 17% Arabic 2%

Political lean MEDSL · Wayne

• 2024 margin: Strong D (+29.0) · D 62.7% · R 33.7% · Other 3.6%
• 2008→2024 swing: -20.5pp toward R · 2008: 49.5pp · 2024: 29.0pp
• All cycles: 2024: D+29.0 2020: D+38.1 2016: D+37.3 2012: D+46.9 2008: D+49.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -108.25%
• Current HPI: 222.8545
• Rent YoY: ▲ 4.65%
• 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

4 events — show timeline

• 2026-05-16 Pending — MiRealSource-MiMLS
• 2026-05-16 Pending — REALCOMP
• 2026-05-07 Listed $214,900 REALCOMP
• 2026-05-07 Listed $214,900 MiRealSource-MiMLS

Property tax history

+0.8%/yr

Latest (2025): $2,068 · -13.5% YoY. Source: county tax records.