8121 Cloverdale Ave · Ferndale, MI 48220

$224,900

3 bd · 2.0 ba · 2,063 sqft · SingleFamily public records · 35 Days on market

Built 1936 6,534 sqft lot $109/sqft · 35% below area Est $297k · 24% 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 +21.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.0/10.0
• 1% rule +5.6/10.0
• Livability +4.5/5.0
• Rent growth +4.1/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful and spacious home awaiting your arrival! This home sits on a double lot with plenty of room to call your own. Updated kitchen and a full first and second floor bath. Formal dining room. Two driveways for your convenience. Finished basement contains recreation room and plumbing for a potential half bathroom. Move-in condition! BATVAD

Key facts

• Two driveways
• Formal dining room
• Recreation room

Tags

• DOUBLE LOT
• UPDATED KITCHEN
• FORMAL DINING ROOM
• TWO DRIVEWAYS
• FINISHED BASEMENT
• RECREATION ROOM

Property features AI

Finance

• Other: Subdivision: DETROYAL PARK; Directions: West of Livernois, south of Eight Mile; cross streets Mitchelldale and Eight Mile

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two levels; Ground-level entry
• Construction: Aluminum and vinyl siding; Block foundation; Asphalt roof; Built area above grade 1,165 (sq ft); Finished area below grade 600 (sq ft)
• Exterior features: Front porch; Paved road access

Interior

• Kitchen: Free‑standing gas range; Free‑standing refrigerator
• Bedrooms: 5 total rooms (includes living spaces and bedrooms)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Finished basement; Gas water heater
• Laundry & utility: Washer included

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $352 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $225k).
• Recommended offer: $218k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 4.5% in Ferndale — 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 90/100 on livability (#8 in MI, #103 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+.
• Ferndale Public Schools (suburban): math 18% / reading 39% proficiency, ranked #366 of 540 in MI (top 68%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Ferndale Lower Elementary Campus (476 students, 53% FRL); Ferndale Middle School (math 13% / reading 35%, grade F, #396 of 493 statewide, top 81%, 540 students, 62% FRL); Ferndale High School (math 32% / reading 57%, grade F, #214 of 713 statewide, top 36%, 712 students, 58% FRL).
• Market conditions: Rents rising fast (+6.2%/yr); 179 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).
• This rent runs 32% of the median local income ($90k/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.
• At projected returns (-3.0% appreciation + 6.2% rent growth), your $63k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 23y 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.

Risks & watch-outs

• Watch-outs: built in 1936 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $218,153 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1936 — 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. 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: 1.06% ✓
• Cap rate: 8.17%
• Cash-on-cash: 6.71%
• DSCR: 1.30
• GRM: 7.9

CMA / ARV

• ARV (median comp): $296,520
• List price: $224,900
• Delta: -24.15%
• 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
21356 Ithaca Ave	0.49mi	3/1.5	2,052 (-0%)	1mo	$222,000	$108	73
20504 Cherrylawn St	0.42mi	3/2.0	2,150 (+4%)	5mo	$125,000	$58	69
1586 W Troy St	0.60mi	3/2.0	2,043 (-1%)	4mo	$370,000	$181	67
1677 Pearson St	0.36mi	3/2.0	1,815 (-12%)	0mo	$295,000	$163	63
1060 W Hazelhurst St	0.48mi	3/2.0	1,874 (-9%)	2mo	$366,000	$195	61
923 Gardendale St	0.72mi	3/2.0	1,992 (-3%)	0mo	$375,000	$188	60
10358 Cloverdale Ave	0.62mi	3/1.5	2,136 (+4%)	5mo	$220,000	$103	59
21040 Woodside Ave	0.38mi	3/1.0	1,858 (-10%)	4mo	$145,000	$78	58
21025 Glen Lodge Rd	0.37mi	3/2.0	1,774 (-14%)	2mo	$201,500	$114	58
20121 Woodingham Dr	0.64mi	4/3.0 (+1)	2,105 (+2%)	2mo	$300,000	$143	56
860 Gardendale St	0.73mi	4/2.0 (+1)	2,216 (+7%)	4mo	$399,900	$180	45
23031 Republic Ave	0.72mi	4/2.0 (+1)	2,281 (+11%)	1mo	$270,000	$118	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 · 6.24% rent growth · sell at horizon

5-year hold

• IRR: -2.4%
• Equity multiple: 0.90×
• Total profit: $-6,004
• Equity at exit: $33,533

10-year hold

• IRR: 10.5%
• Equity multiple: 1.93×
• Total profit: $58,796
• Equity at exit: $19,445

Cash invested: $62,972 (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 48220

• Rents YoY: 6.2%
• Active inventory: 179
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,376 medium
• Mortgage (P&I): −$1,179
• Tax from tax record: −$252 /mo · $3,021/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$499
• Net cashflow: $352

Break-even live

Break-even rent $1,930

Max offer price $224,900

Occupancy floor 80%

Sensitivity live

Price	-10% $479	-5% $416	+0% $352	+5% $288	+10% $225
Rent	-10% $164	-5% $258	+0% $352	+5% $446	+10% $540
Rate	-1.0pp $465	-0.5pp $409	base $352	+0.5pp $294	+1.0pp $235

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
695 Livernois St Unit 1 Ferndale, MI	2.0	2.0	1500	$2,750	$1.83	14d	1	0.52mi
351 Edgewood Pl Unit 2 Ferndale, MI	3.0	2.0	1600	$2,200	$1.38	19d	1	1.08mi
320 E Troy St Ferndale, MI	4.0	2.0	1627	$2,200	$1.35	45d	1	1.29mi
2554 Woodstock Dr Highland Park, MI	3.0	1.5	1929	$2,250	$1.17	16d	1	1.30mi

Listing history 16 events

1. 2026-05-12
   historical Accepting Backup Offers 344-char remark

   Show marketing remark (344 chars)

   Beautiful and spacious home awaiting your arrival! This home sits on a double lot with plenty of room to call your own. Updated kitchen and a full first and second floor bath. Formal dining room. Two driveways for your convenience. Finished basement contains recreation room and plumbing for a potential half bathroom. Move-in condition! BATVAD

2. 2026-05-12
   historical Active Under Contract 344-char remark

   Show marketing remark (344 chars)

   Beautiful and spacious home awaiting your arrival! This home sits on a double lot with plenty of room to call your own. Updated kitchen and a full first and second floor bath. Formal dining room. Two driveways for your convenience. Finished basement contains recreation room and plumbing for a potential half bathroom. Move-in condition! BATVAD

3. 2026-04-23
   listed $224,900 Active 344-char remark

   Show marketing remark (344 chars)

   Beautiful and spacious home awaiting your arrival! This home sits on a double lot with plenty of room to call your own. Updated kitchen and a full first and second floor bath. Formal dining room. Two driveways for your convenience. Finished basement contains recreation room and plumbing for a potential half bathroom. Move-in condition! BATVAD

4. 2026-04-23
   listed $224,900 Active 344-char remark

   Show marketing remark (344 chars)

   Beautiful and spacious home awaiting your arrival! This home sits on a double lot with plenty of room to call your own. Updated kitchen and a full first and second floor bath. Formal dining room. Two driveways for your convenience. Finished basement contains recreation room and plumbing for a potential half bathroom. Move-in condition! BATVAD

5. 2005-12-12
   soldstatus $89,000

   Show marketing remark (142 chars)

   Home with many bedrooms and 2 lots (note 2 property Id numbers - 2533378019 & 253378020) Needs some interior updates but very nice home.

6. 2005-12-12
   soldstatus $89,000

   Show marketing remark (142 chars)

   Home with many bedrooms and 2 lots (note 2 property Id numbers - 2533378019 & 253378020) Needs some interior updates but very nice home.

7. 2005-12-09
   soldstatus $89,000
8. 2005-11-23
   historical
9. 2005-09-27
   listed $89,900

   Show marketing remark (142 chars)

   Home with many bedrooms and 2 lots (note 2 property Id numbers - 2533378019 & 253378020) Needs some interior updates but very nice home.

10. 2005-09-27
    listed $89,900

    Show marketing remark (142 chars)

    Home with many bedrooms and 2 lots (note 2 property Id numbers - 2533378019 & 253378020) Needs some interior updates but very nice home.

11. 2004-12-21
    soldstatus $152,990
12. 2004-05-23
    historical
13. 2004-02-23
    listed $174,000
14. 2003-06-02
    soldstatus $160,000
15. 2003-04-21
    historical
16. 2003-02-27
    listed $159,900

ⓘ 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: $3,021 · $252/mo
• Projected year-2 tax: $3,242 · $270/mo
• Expected delta: +$221/yr (+$18/mo · 7.3%)

ⓘ 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 · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,511
• − Mortgage interest: −$12,598
• − Property taxes: −$3,021
• − Insurance: −$1,124
• − Repairs & maintenance: −$2,281
• − Management: −$2,281
• − Depreciation: −$6,543
• Taxable income: $663
• Est. tax owed @ 24.0%: −$159
• After-tax cash flow: $4,066/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: Ferndale Public Schools
• NCES district ID: 2614280
• Math proficiency: 18% ▼ -3.00%
• Reading proficiency: 39% ▲ 5.00%
• Median HH income: $56,069
• Composite: 25.46/100
• National rank: #7449
• State rank: #366 of 540 in MI

Livability — Ferndale

• Score: 90/100
• State rank: #8
• US rank: #103

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Oakland County · 1,009,092 people
• City population: 21,527
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 21,527
• Household income: $89,881
• Rent vs Own: 36.3% rent · 63.7% own
• Severe rent burden: 670.0

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 (72%)
• Race & ethnicity: White 72% Black 15% Two or more races 6% Hispanic / Latino 5% Asian 3%
• Common ancestry: Romanian 11% Lithuanian 6% Slovak 3%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 2% Other Indo-European 1% German/W. Germanic 1%

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: ▼ -394.92%
• Current HPI: 273.0986
• Rent YoY: ▲ 6.24%
• 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

+32.6% since first listed

20 events — show timeline

• 2026-06-02 Sold (MLS) $212,000 MiRealSource-MiMLS
• 2026-06-02 Sold (MLS) $212,000 REALCOMP
• 2026-05-28 Pending — MiRealSource-MiMLS
• 2026-05-28 Pending — REALCOMP
• 2026-05-12 Contingent — MiRealSource-MiMLS
• 2026-05-12 Contingent — REALCOMP
• 2026-04-23 Listed $224,900 REALCOMP
• 2026-04-23 Listed $224,900 MiRealSource-MiMLS
• 2005-12-12 Sold (MLS) $89,000 MiRealSource-MiMLS
• 2005-12-12 Sold (MLS) $89,000 REALCOMP
• 2005-12-09 Sold (Public Records) $89,000 Public Records
• 2005-11-23 Listing Removed — MiRealSource-MiMLS
• 2005-09-27 Listed $89,900 MiRealSource-MiMLS
• 2005-09-27 Listed $89,900 REALCOMP
• 2004-12-21 Sold (Public Records) $152,990 Public Records
• 2004-05-23 Listing Removed — REALCOMP
• 2004-02-23 Listed $174,000 REALCOMP
• 2003-06-02 Sold (MLS) $160,000 MiRealSource-MiMLS
• 2003-04-21 Listing Removed — MiRealSource-MiMLS
• 2003-02-27 Listed $159,900 MiRealSource-MiMLS

Property tax history

+4.1%/yr

Latest (2025): $3,021 · +95.0% YoY. Source: county tax records.