498 Bird Ave · Birmingham, MI 48009

$410,000

3 bd · 1.0 ba · 1,452 sqft · SingleFamily public records · 20 Days on market

Built 1950 5,227 sqft lot Est $418k · at est.

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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 +12.3/30.0
• ARV discount +8.4/15.0
• Schools +6.1/10.0
• Livability +4.4/5.0
• DSCR +3.6/10.0
• Rent growth +3.4/5.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great location nestled between two custom homes this Birmingham Bungalow is ready to renovate or build your own custom home. This three bedroom bungalow features hardwood flooring, newer windows, partially finished basement and one full bath with the original tile on the tub and walls. The larger lot offer the option to build a new garage, or custom home. A spacious deck of the kitchen nook overlooks the oversized yard.

Key facts

• Hardwood flooring
• Oversized yard
• Spacious deck

Tags

• HARDWOOD FLOORING
• NEWER WINDOWS
• PARTIALLY FINISHED BASEMENT
• SPACIOUS DECK
• OVERSIZED YARD

Property features AI

Finance

• Other: Pets allowed with breed restrictions

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half stories; Ground-level entry with steps; Aluminum siding
• Construction: Aluminum siding construction; One and one-half story configuration; Partially finished basement (below grade finished area noted)
• Exterior features: Deck; Paved road access

Interior

• Kitchen: Dishwasher; Free-standing gas range; Free-standing refrigerator; Microwave
• Bedrooms: Total of 5 rooms (bedroom count not specified)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air; Ceiling fan(s); Forced air heating; Natural gas heating
• Interior features: Dishwasher; Free-standing gas range; Free-standing refrigerator; Microwave; Partially finished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $410k.

Deal economics

• At list price, monthly cash flow is $-78 ($-940/yr) — negative.
• To cash-flow at today's rent, offer at most $396k (3.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $337k (17.8% below list).
• Recommended offer: $337k (17.8% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 1.5% in Birmingham — 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 88/100 on livability (#12 in MI, #200 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, amenities A+; Watch: cost of living F.
• Birmingham Public Schools (suburban): math 58% / reading 71% proficiency, ranked #18 of 540 in MI (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 6% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+3.8%/yr); 212 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($404k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 24y ago; this cycle's ask is 32% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $205k; list at $410k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $337,062 (17.8% 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 1950 — 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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?
6. 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.
7. 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.
8. 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: 0.82% ✗
• Cap rate: 6.06%
• Cash-on-cash: -0.82%
• DSCR: 0.96
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $418,176
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15636 Kirkshire Ave	0.22mi	3/2.0	1,372 (-6%)	1mo	$395,000	$288	76
1495 Washington Blvd	0.44mi	3/2.0	1,430 (-2%)	3mo	$600,000	$420	70
16929 Dunblaine Ave	0.39mi	3/2.0	1,518 (+4%)	2mo	$420,000	$277	69
32463 Sheridan Dr	0.34mi	3/2.0	1,545 (+6%)	5mo	$420,000	$272	65
1007 Chester St	0.62mi	3/1.0	1,400 (-4%)	2mo	$489,000	$349	64
16115 Reedmere Ave	0.68mi	3/2.0	1,387 (-4%)	2mo	$555,000	$400	55
17335 Kirkshire Ave	0.48mi	3/2.0	1,594 (+10%)	8mo	$500,000	$314	51
32210 Sheridan Dr	0.48mi	3/2.0	1,638 (+13%)	5mo	$420,000	$256	48
1552 Bennaville Ave	0.57mi	3/1.0	1,632 (+12%)	8mo	$360,000	$221	46
522 W Lincoln St	0.65mi	3/2.0	1,602 (+10%)	3mo	$515,000	$321	46
1276 Holland St	0.70mi	2/1.0 (-1)	1,347 (-7%)	7mo	$362,000	$269	44
1427 Humphrey Ave	0.56mi	2/1.0 (-1)	1,275 (-12%)	8mo	$359,999	$282	42

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 · 3.75% rent growth · sell at horizon

5-year hold

• IRR: -16.8%
• Equity multiple: 0.40×
• Total profit: $-68,872
• Equity at exit: $61,132

10-year hold

• IRR: -7.4%
• Equity multiple: 0.51×
• Total profit: $-55,747
• Equity at exit: $35,449

Cash invested: $114,800 (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 48009

• Rents YoY: 3.8%
• Active inventory: 212
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $3,371 high
• Mortgage (P&I): −$2,150
• Tax from tax record: −$420 /mo · $5,043/yr
• Insurance: −$171
• HOA: −$0
• Vacancy / Maint / Mgmt: −$708
• Net cashflow: $-78

Break-even live

Break-even rent $3,470

Max offer price $396,156

Occupancy floor 97%

Sensitivity live

Price	-10% $154	-5% $38	+0% $-78	+5% $-194	+10% $-310
Rent	-10% $-345	-5% $-212	+0% $-78	+5% $55	+10% $188
Rate	-1.0pp $128	-0.5pp $26	base $-78	+0.5pp $-185	+1.0pp $-293

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: $102,500
• Closing costs: $12,300
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
487 Smith Ave Birmingham, MI	3.0	2.0	1326	$3,950	$2.98	6d	1	0.11mi
16244 Kirkshire Ave Beverly Hills, MI	3.0	2.0	1331	$3,500	$2.63	0d	1	0.14mi
755 Emmons Ave Birmingham, MI	3.0	1.0	1160	$1,900	$1.64	26d	1	0.24mi
1948 Henrietta St Birmingham, MI	3.0	1.0	1057	$2,500	$2.37	26d	1	0.29mi
991 Humphrey Ave Birmingham, MI	3.0	1.0	1115	$2,200	$1.97	0d	1	0.42mi
115 E Lincoln St Birmingham, MI	3.0	3.0	1637	$4,200	$2.57	26d	1	0.54mi
707 S Worth St Birmingham, MI	1.0–2.0	1.0–2.0	1290	$6,900	$5.35	0d	21	0.72mi
555 S Old Woodward Ave Birmingham, MI	1.0–2.0	1.0–2.0	1036	$4,161	$4.02	0d	4	0.76mi
4526 Cooper Ave Royal Oak, MI	3.0	1.0	1000	$2,500	$2.50	20d	1	0.80mi
4307 Cooper Ave Royal Oak, MI	3.0	2.0	1679	$2,550	$1.52	20d	1	0.84mi
343 S Elm St Unit A Birmingham, MI	2.0	1.5	1100	$3,000	$2.73	18d	1	0.92mi
211 E Merrill St Birmingham, MI	1.0–3.0	1.0–2.0	1059	$5,240	$4.95	0d	7	0.96mi
3912 Hillside Dr Royal Oak, MI	3.0	1.5	1196	$2,495	$2.09	4d	1	1.01mi
1711 Villa Rd Birmingham, MI	3.0	1.5	1653	$2,500	$1.51	26d	1	1.08mi
202 N Old Woodward Ave Unit 202 Birmingham, MI	2.0	2.0	1475	$5,900	$4.00	26d	1	1.09mi
111 Willits St #305 Birmingham, MI	2.0	2.5	1698	$6,750	$3.98	26d	1	1.10mi
4120 W 13 Mile Rd Royal Oak, MI	1.0–2.0	1.0	775	$1,300	$1.68	1d	4	1.10mi
401 S Eton St Birmingham, MI	2.0–4.0	2.5	2277	$7,200	$3.16	6d	2	1.16mi
1997 Villa Rd Birmingham, MI	1.0–3.0	1.0–2.5	1050	$2,575	$2.45	1d	10	1.16mi
4302 Mandalay Ave Royal Oak, MI	3.0	1.0	900	$2,200	$2.44	26d	1	1.31mi
2101 E Maple Rd Birmingham, MI	2.0	1.0	1000	$1,695	$1.70	16d	1	1.32mi
30300 Southfield Rd Southfield, MI	1.0–3.0	1.0–2.5	1450	$2,150	$1.48	1d	1	1.35mi
3257 Newbury Pl Unit 20 Troy, MI	2.0	3.0	1480	$2,450	$1.66	0d	1	1.38mi
3248 Newbury Pl #11 Troy, MI	2.0	2.5	1398	$2,250	$1.61	26d	1	1.41mi
18335 W 13 Mile Rd Southfield, MI	1.0–2.0	1.0–2.0	925	$1,864	$2.02	1d	8	1.42mi
3286 Camden Dr Troy, MI	2.0	2.5	1550	$2,450	$1.58	25d	1	1.42mi
633 N Old Woodward Ave Birmingham, MI	2.0	2.5	1392	$4,300	$3.09	26d	1	1.45mi
30256 Southfield Rd Southfield, MI	3.0	2.0	1227	$1,662	$1.35	7d	2	1.45mi
30256 Southfield Rd Southfield, MI	3.0	2.0	1238	$1,675	$1.35	26d	1	1.45mi

Listing history 13 events

1. 2026-06-21
   days on market $410,000 Active 20 DOM
2. 2026-06-18
   days on market $410,000 Active 17 DOM
3. 2026-06-17
   days on market $410,000 Active 16 DOM
4. 2026-06-16
   days on market $410,000 Active 15 DOM
5. 2026-06-15
   days on market $410,000 Active 14 DOM
6. 2026-06-13
   days on market $410,000 Active 12 DOM
7. 2026-06-09
   days on market $410,000 Active 8 DOM
8. 2026-06-08
   days on market $410,000 Active 7 DOM
9. 2026-06-07
   days on market $410,000 Active 6 DOM
10. 2026-06-04
    days on market $410,000 Active 3 DOM
11. 2026-06-03
    days on market $410,000 Active 2 DOM
12. 2026-06-02
    remarks 423-char remark

    Show marketing remark (423 chars)

    Great location nestled between two custom homes this Birmingham Bungalow is ready to renovate or build your own custom home. This three bedroom bungalow features hardwood flooring, newer windows, partially finished basement and one full bath with the original tile on the tub and walls. The larger lot offer the option to build a new garage, or custom home. A spacious deck of the kitchen nook overlooks the oversized yard.

13. 2026-06-02
    listed $410,000 Active 1 DOM

    Show marketing remark (423 chars)

    Great location nestled between two custom homes this Birmingham Bungalow is ready to renovate or build your own custom home. This three bedroom bungalow features hardwood flooring, newer windows, partially finished basement and one full bath with the original tile on the tub and walls. The larger lot offer the option to build a new garage, or custom home. A spacious deck of the kitchen nook overlooks the oversized yard.

ⓘ 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: $5,043 · $420/mo
• Projected year-2 tax: $5,678 · $473/mo
• Expected delta: +$636/yr (+$53/mo · 12.6%)

ⓘ 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 2/10 Low 6 d/yr ≥97°F today · 13 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: $40,447
• − Mortgage interest: −$22,966
• − Property taxes: −$5,043
• − Insurance: −$2,050
• − Repairs & maintenance: −$3,236
• − Management: −$3,236
• − Depreciation: −$11,927
• Taxable loss: −$8,011
• Est. tax savings @ 24.0%: +$1,923
• After-tax cash flow: $982/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: Birmingham Public Schools
• NCES district ID: 2605850
• Math proficiency: 58% ▼ -8.00%
• Reading proficiency: 71% ▼ -3.00%
• Median HH income: $110,445
• Composite: 60.54/100
• National rank: #839
• State rank: #18 of 540 in MI

Livability — Birmingham

• Score: 88/100
• State rank: #12
• US rank: #200

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Birmingham, MI
• County: Oakland County · 1,009,092 people
• City population: 21,772
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 21,772
• Household income: $153,401
• Rent vs Own: 22.9% rent · 77.1% own
• Severe rent burden: 476.0

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 (84%)
• Race & ethnicity: White 84% Two or more races 6% Asian 5% Hispanic / Latino 4% Black 4%
• Common ancestry: Romanian 8% Lithuanian 3% Scotch-Irish 3%
• Foreign-born: 10% · Canada, South Korea
• Languages at home: 90% English-only · Other Indo-European 3% Arabic 1% Spanish 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: ▼ -644.58%
• Current HPI: 201.3418
• Rent YoY: ▲ 3.75%
• 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

+385.2% since first listed

11 events — show timeline

• 2026-06-02 Price Changed $410,000 MiRealSource-MiMLS
• 2026-06-02 Price Changed $410,000 REALCOMP
• 2026-06-01 Listed $310,000 REALCOMP
• 2026-06-01 Listed $310,000 MiRealSource-MiMLS
• 2002-05-20 Sold (Public Records) $205,000 Public Records
• 2002-04-25 Sold (MLS) $205,000 MiRealSource-MiMLS
• 2002-04-08 Listing Removed — MiRealSource-MiMLS
• 2002-03-13 Listed $214,900 MiRealSource-MiMLS
• 1998-10-01 Sold (Public Records) $156,000 Public Records
• 1993-12-30 Sold (Public Records) $97,000 Public Records
• 1988-11-01 Sold (Public Records) $84,500 Public Records

Property tax history

+2.0%/yr

Latest (2025): $5,043 · +2.6% YoY. Source: county tax records.