28696 Patricia Ave · Warren, MI 48092

$250,000

3 bd · 1.0 ba · 1,013 sqft · SingleFamily public records · 5 Days on market

Built 1960 7,405 sqft lot $247/sqft · 67% above area Est $268k · 7% under

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Why this score? — see what drove the D 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 +11.3/30.0
• ARV discount +10.5/15.0
• Rent growth +4.5/5.0
• Livability +3.7/5.0
• DSCR +3.3/10.0
• 1% rule +2.7/10.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* Multiple offers - highest and best due Monday 12 noon Seller will select offer by end of day Monday * Charming brick ranch lovingly maintained by the original owner, set on a well-maintained lot with manicured landscaping and a functional layout. Step inside to a light-filled living room featuring a large picture window. The eat-in kitchen offers ample cabinet storage, space for a dining table, and sliding glass doors that lead to a three-seasons room. Surrounded by windows, this additional space provides views of the backyard and a comfortable area to relax or entertain. The primary bedroom includes an ensuite bathroom, while two additional bedrooms and a full bathroom complete the main level. The finished basement adds extra living space with retro wood-paneled walls and a built-in bar area, along with a laundry room and storage. Outside, enjoy a fenced backyard with room for outdoor activities and a two-car garage. Conveniently located near shopping and dining along Mound Road, this home offers a solid opportunity to update and make it your own.

Key facts

• 7,405 sq ft lot
• 2 garage spots
• Built 1960

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level above grade; Ground-level entry; Brick construction
• Construction: Brick exterior; Finished below-grade area
• Exterior features: Paved road; Lot approximately 0.17 acres (55 x 131); No pool

Interior

• Kitchen: Dishwasher; Free-standing gas range; Microwave; Free-standing refrigerator
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Finished basement; 7 total rooms
• Laundry & utility: Laundry room; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $-93 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $234k (6.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $192k (23.2% below list).
• Recommended offer: $192k (23.2% below list) — sets the bar for 1% rule.

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 Consolidated Schools (urban): math 18% / reading 39% proficiency, ranked #373 of 540 in MI (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+8.0%/yr); 96 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 1,321 units permitted in Macomb County in 2024 (86 in 5+ unit buildings).
• This rent runs 31% of the median local income ($74k/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 $8k 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.

Negotiation context

• Only 5 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.

Recommended offer $192,062 (23.2% 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 1960 — 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 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?
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: 0.77% ✗
• Cap rate: 5.85%
• Cash-on-cash: -1.59%
• DSCR: 0.93
• GRM: 10.8

CMA / ARV

• ARV (median comp): $268,106
• List price: $250,000
• Delta: -6.75%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4348 Martin Rd	0.65mi	3/1.0	1,000 (-1%)	4mo	$175,000	$175	64
4628 Hayman Dr	0.41mi	3/1.5	1,008 (-0%)	19mo	$225,000	$223	62
28556 Milton St	0.16mi	3/1.5	1,160 (+14%)	7mo	$220,500	$190	60
27575 Strathmoor Dr Dr	0.68mi	3/1.0	1,040 (+3%)	7mo	$225,000	$216	58
28150 Loretta Ave	0.41mi	3/1.0	1,128 (+11%)	6mo	$150,000	$133	57
27649 Milton Ave	0.59mi	4/1.0 (+1)	1,100 (+9%)	7mo	$153,000	$139	47
5148 Elmer Ave	0.33mi	3/1.5	882 (-13%)	19mo	$185,000	$210	45
5669 Heathdale Ave	0.58mi	3/1.0	957 (-6%)	23mo	$129,000	$135	45
27317 Welsh Dr	0.72mi	3/1.0	1,143 (+13%)	1mo	$225,000	$197	44
4488 Linville St	0.63mi	3/1.0	942 (-7%)	21mo	$224,000	$238	42
29565 Apolonia Dr	0.64mi	3/1.5	1,132 (+12%)	12mo	$250,000	$221	38

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -13.9%
• Equity multiple: 0.48×
• Total profit: $-36,315
• Equity at exit: $37,276

10-year hold

• IRR: 1.1%
• Equity multiple: 1.10×
• Total profit: $6,788
• Equity at exit: $21,615

Cash invested: $70,000 (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 48092

• Rents YoY: 8.0%
• Active inventory: 96
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,921 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$195 /mo · $2,339/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $-93

Break-even live

Break-even rent $2,038

Max offer price $233,606

Occupancy floor 100%

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
29745 Fox Run Cir Warren, MI	3.0	2.0	1487	$2,200	$1.48	43d	1	0.58mi
28439 Wexford Dr Warren, MI	3.0	1.5	1253	$2,099	$1.68	24d	1	0.79mi
4473 Buchanan Ave Warren, MI	3.0	1.5	1064	$1,650	$1.55	24d	1	1.31mi
31499 Mound Rd Warren, MI	1.0–2.0	1.0	900	$1,413	$1.57	2d	5	1.32mi
26009 Pinehurst Dr Warren, MI	2.0	1.5	1310	$2,100	$1.60	1d	1	1.42mi
29408 Dequindre Rd Unit 203 Warren, MI	2.0	1.0	900	$1,145	$1.27	4d	1	1.45mi
27489 Parkview Blvd Warren, MI	1.0–2.0	1.0–1.5	850	$1,465	$1.72	4d	12	1.48mi
4385 Frazho Rd Warren, MI	1.0–2.0	1.0	825	$1,305	$1.58	2d	6	1.50mi

Listing history 5 events

1. 2026-05-05
   status Pending 1067-char remark

   Show marketing remark (1067 chars)

   * Multiple offers - highest and best due Monday 12 noon Seller will select offer by end of day Monday * Charming brick ranch lovingly maintained by the original owner, set on a well-maintained lot with manicured landscaping and a functional layout. Step inside to a light-filled living room featuring a large picture window. The eat-in kitchen offers ample cabinet storage, space for a dining table, and sliding glass doors that lead to a three-seasons room. Surrounded by windows, this additional space provides views of the backyard and a comfortable area to relax or entertain. The primary bedroom includes an ensuite bathroom, while two additional bedrooms and a full bathroom complete the main level. The finished basement adds extra living space with retro wood-paneled walls and a built-in bar area, along with a laundry room and storage. Outside, enjoy a fenced backyard with room for outdoor activities and a two-car garage. Conveniently located near shopping and dining along Mound Road, this home offers a solid opportunity to update and make it your own.

2. 2026-05-05
   status Pending 1068-char remark

   Show marketing remark (1067 chars)

   * Multiple offers - highest and best due Monday 12 noon Seller will select offer by end of day Monday * Charming brick ranch lovingly maintained by the original owner, set on a well-maintained lot with manicured landscaping and a functional layout. Step inside to a light-filled living room featuring a large picture window. The eat-in kitchen offers ample cabinet storage, space for a dining table, and sliding glass doors that lead to a three-seasons room. Surrounded by windows, this additional space provides views of the backyard and a comfortable area to relax or entertain. The primary bedroom includes an ensuite bathroom, while two additional bedrooms and a full bathroom complete the main level. The finished basement adds extra living space with retro wood-paneled walls and a built-in bar area, along with a laundry room and storage. Outside, enjoy a fenced backyard with room for outdoor activities and a two-car garage. Conveniently located near shopping and dining along Mound Road, this home offers a solid opportunity to update and make it your own.

3. 2026-05-01
   listed $250,000 Active 1067-char remark

   Show marketing remark (1067 chars)

   * Multiple offers - highest and best due Monday 12 noon Seller will select offer by end of day Monday * Charming brick ranch lovingly maintained by the original owner, set on a well-maintained lot with manicured landscaping and a functional layout. Step inside to a light-filled living room featuring a large picture window. The eat-in kitchen offers ample cabinet storage, space for a dining table, and sliding glass doors that lead to a three-seasons room. Surrounded by windows, this additional space provides views of the backyard and a comfortable area to relax or entertain. The primary bedroom includes an ensuite bathroom, while two additional bedrooms and a full bathroom complete the main level. The finished basement adds extra living space with retro wood-paneled walls and a built-in bar area, along with a laundry room and storage. Outside, enjoy a fenced backyard with room for outdoor activities and a two-car garage. Conveniently located near shopping and dining along Mound Road, this home offers a solid opportunity to update and make it your own.

4. 2026-05-01
   listed $250,000 Active 1068-char remark

   Show marketing remark (1067 chars)

   * Multiple offers - highest and best due Monday 12 noon Seller will select offer by end of day Monday * Charming brick ranch lovingly maintained by the original owner, set on a well-maintained lot with manicured landscaping and a functional layout. Step inside to a light-filled living room featuring a large picture window. The eat-in kitchen offers ample cabinet storage, space for a dining table, and sliding glass doors that lead to a three-seasons room. Surrounded by windows, this additional space provides views of the backyard and a comfortable area to relax or entertain. The primary bedroom includes an ensuite bathroom, while two additional bedrooms and a full bathroom complete the main level. The finished basement adds extra living space with retro wood-paneled walls and a built-in bar area, along with a laundry room and storage. Outside, enjoy a fenced backyard with room for outdoor activities and a two-car garage. Conveniently located near shopping and dining along Mound Road, this home offers a solid opportunity to update and make it your own.

5. 2026-04-27
   historical $250,000 1067-char remark

   Show marketing remark (1067 chars)

   * Multiple offers - highest and best due Monday 12 noon Seller will select offer by end of day Monday * Charming brick ranch lovingly maintained by the original owner, set on a well-maintained lot with manicured landscaping and a functional layout. Step inside to a light-filled living room featuring a large picture window. The eat-in kitchen offers ample cabinet storage, space for a dining table, and sliding glass doors that lead to a three-seasons room. Surrounded by windows, this additional space provides views of the backyard and a comfortable area to relax or entertain. The primary bedroom includes an ensuite bathroom, while two additional bedrooms and a full bathroom complete the main level. The finished basement adds extra living space with retro wood-paneled walls and a built-in bar area, along with a laundry room and storage. Outside, enjoy a fenced backyard with room for outdoor activities and a two-car garage. Conveniently located near shopping and dining along Mound Road, this home offers a solid opportunity to update and make it your own.

ⓘ 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: $2,339 · $195/mo
• Projected year-2 tax: $3,094 · $258/mo
• Expected delta: +$756/yr (+$63/mo · 32.3%)

ⓘ 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 · 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: $23,047
• − Mortgage interest: −$14,004
• − Property taxes: −$2,339
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,844
• − Management: −$1,844
• − Depreciation: −$7,273
• Taxable loss: −$5,506
• Est. tax savings @ 24.0%: +$1,321
• After-tax cash flow: $208/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 Consolidated Schools
• NCES district ID: 2635190
• Math proficiency: 18% ▼ -14.00%
• Reading proficiency: 39% ▼ -8.00%
• Median HH income: $52,259
• Composite: 25.09/100
• National rank: #7533
• State rank: #373 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): 27,374
• Household income: $73,808
• Rent vs Own: 22.3% rent · 77.7% own
• Severe rent burden: 675.0

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 0.55)
• Race & ethnicity: White 63% Asian 17% Black 14% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 10% Arab 4% Subsaharan African 2%
• Foreign-born: 22% · Vietnam, Canada, China
• Languages at home: 70% English-only · Other Indo-European 11% Arabic 5% Russian/Polish/Slavic 3%

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: ▼ -262.85%
• Current HPI: 189.7524
• Rent YoY: ▲ 8.03%
• 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

+5.2% since first listed

7 events — show timeline

• 2026-05-29 Sold (MLS) $263,000 MiRealSource-MiMLS
• 2026-05-29 Sold (MLS) $263,000 REALCOMP
• 2026-05-05 Pending — MiRealSource-MiMLS
• 2026-05-05 Pending — REALCOMP
• 2026-05-01 Listed $250,000 MiRealSource-MiMLS
• 2026-05-01 Listed $250,000 REALCOMP
• 2026-04-27 Coming Soon $250,000 MiRealSource-MiMLS

Property tax history

+2.0%/yr

Latest (2025): $2,339 · +2.2% YoY. Source: county tax records.