28326 Los Olas Dr · Warren, MI 48093

$199,900

3 bd · 1.5 ba · 1,119 sqft · SingleFamily public records · 17 Days on market

Built 1959 6,534 sqft lot Est $222k · 10% 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).

• ARV discount +11.9/15.0
• Cash flow +11.5/30.0
• Livability +3.7/5.0
• DSCR +3.4/10.0
• 1% rule +3.2/10.0
• Rent growth +3.1/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

!!GREAT HOME!!GREAT PRICE!!UPDATED RANCH W/ NEWOAK KITCHEN & NEWER VINYL WINDOWS!!OPEN FLOORPLAN, FIN. BSMT, LARGE YARD W/ DECK & GREATLOCATION ON A TREELINED STREET!!WHAT MORE COULDYOU ASK FOR??BETTER HURRY THIS ONE WON'T LAST!!

Key facts

• 6,534 sq ft lot
• 2 garage spots
• Built 1959

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer; Electric service (standard); Natural gas; Gas water heater
• Home design: Residential property; One-story structure; Built in 1959; Basement foundation
• Construction: Brick construction; Basement foundation; Built in 1959
• Exterior features: Brick exterior; Deck; Fenced yard; Porch

Interior

• Kitchen: Kitchen on entry level (approx. 10 x 12); Range/Oven; Microwave; Refrigerator; Dishwasher; Disposal
• Bedrooms: Bedroom 1 on entry level with wood flooring (approx. 11 x 12); Bedroom 2 on entry level with wood flooring (approx. 10 x 12); Bedroom 3 on entry level with wood flooring (approx. 12 wide)
• Flooring: Wood flooring in bedrooms and living room; Ceramic flooring in bathroom
• Bathrooms: One full bathroom and one lavatory (two total lavs); Entry-level bathroom with ceramic flooring
• Heating & cooling: Forced air heating; Central air conditioning; Ceiling fan(s); Attic fan; Natural gas heating fuel
• Interior features: Seven total rooms; Partially finished basement
• Laundry & utility: Washer and Dryer included; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-65 ($-783/yr) — negative.
• To cash-flow at today's rent, offer at most $188k (5.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $164k (17.8% below list).
• Recommended offer: $164k (17.8% 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 (+2.5%/yr); 128 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $1k of loan paydown is wiped out by about $6k 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

• It's been on market 17 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $128k; list at $200k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $164,286 (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 1959 — 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: 0.82% ✗
• Cap rate: 5.90%
• Cash-on-cash: -1.40%
• DSCR: 0.94
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $221,562
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
28328 Palm Beach Dr	0.06mi	3/1.5	1,210 (+8%)	5mo	$240,000	$198	80
11095 Martin Rd	0.17mi	3/1.5	1,211 (+8%)	1mo	$293,400	$242	77
11234 Irvington St	0.23mi	3/2.0	1,230 (+10%)	4mo	$266,000	$216	68
8171 Marian St	0.51mi	3/1.5	1,100 (-2%)	9mo	$275,000	$250	65
7528 Anna Ave	0.70mi	3/1.0	1,112 (-1%)	1mo	$128,000	$115	63
8121 Marian St	0.55mi	3/2.0	1,130 (+1%)	9mo	$200,000	$177	63
8460 Busko Ave	0.37mi	3/1.0	1,032 (-8%)	8mo	$150,000	$145	61
8210 Linda St	0.44mi	3/1.5	1,215 (+9%)	8mo	$242,500	$200	59
8170 Gerald Ave	0.47mi	3/1.5	1,005 (-10%)	4mo	$249,900	$249	58
29780 Lorraine Ave	0.69mi	3/1.0	1,187 (+6%)	0mo	$215,000	$181	55
8475 Farnum Ave	0.44mi	3/1.0	1,264 (+13%)	8mo	$178,000	$141	50
27125 Gilbert Dr	0.64mi	3/2.0	1,250 (+12%)	6mo	$224,000	$179	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 · 2.52% rent growth · sell at horizon

5-year hold

• IRR: -19.1%
• Equity multiple: 0.33×
• Total profit: $-37,326
• Equity at exit: $29,806

10-year hold

• IRR: -12.7%
• Equity multiple: 0.27×
• Total profit: $-41,010
• Equity at exit: $17,284

Cash invested: $55,972 (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 48093

• Rents YoY: 2.5%
• Active inventory: 128
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,643 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$232 /mo · $2,779/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $-65

Break-even live

Break-even rent $1,725

Max offer price $188,369

Occupancy floor 99%

Sensitivity live

Price	-10% $48	-5% $-9	+0% $-65	+5% $-122	+10% $-178
Rent	-10% $-195	-5% $-130	+0% $-65	+5% $0	+10% $65
Rate	-1.0pp $35	-0.5pp $-14	base $-65	+0.5pp $-117	+1.0pp $-170

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
29250 Longview Ave Apt 14 Warren, MI	2.0	1.0	950	$1,000	$1.05	44d	1	0.53mi
28250 Hoover Rd Warren, MI	1.0–2.0	1.0–2.0	912	$1,640	$1.80	0d	17	0.56mi
8429 Towne Center Cir S #52 Warren, MI	2.0	2.0	1240	$1,775	$1.43	25d	1	0.59mi
11116 Racine Rd Warren, MI	3.0	1.5	1433	$2,000	$1.40	0d	1	0.60mi
8457 Towne Center Cir Unit 90 Warren, MI	2.0	2.0	1319	$1,800	$1.36	44d	1	0.64mi
29400 Towne Center Cir Warren, MI	1.0–3.0	1.0–2.0	1114	$2,099	$1.88	0d	1	0.65mi
27239 Hoover Rd Warren, MI	1.0–2.0	1.0	670	$945	$1.41	44d	1	0.68mi
28801 Imperial Dr Warren, MI	1.0–2.0	1.0	887	$1,205	$1.36	17d	6	0.79mi
27107 Seyburn Ave Warren, MI	2.0	1.0	750	$1,300	$1.73	22d	1	0.93mi
11809 McKinley Dr Warren, MI	3.0	1.5	1212	$1,800	$1.49	18d	1	0.99mi
8625 Dale Center Line, MI	3.0	1.5	1179	$1,796	$1.52	44d	1	1.24mi
13250 De Mott Dr Warren, MI	3.0	1.5	1386	$1,900	$1.37	44d	1	1.33mi
13006 E 11 Mile Rd Unit 6 Warren, MI	2.0	1.0	850	$1,075	$1.26	15d	1	1.38mi
13006 E 11 Mile Rd Unit 6 Warren, MI	2.0	1.0	850	$1,050	$1.24	44d	1	1.38mi
30428 Iroquois Dr Warren, MI	3.0	1.0	1000	$1,800	$1.80	2d	1	1.50mi

Listing history 16 events

1. 2026-06-13
   statusdays on market $199,900 Pending 17 DOM
2. 2026-06-10
   price $199,900 Active 15 DOM
3. 2026-06-09
   days on market $219,900 Active 15 DOM
4. 2026-06-08
   days on market $219,900 Active 14 DOM
5. 2026-06-07
   days on market $219,900 Active 13 DOM
6. 2026-06-04
   days on market $219,900 Active 10 DOM
7. 2026-06-03
   days on market $219,900 Active 9 DOM
8. 2026-06-02
   days on market $219,900 Active 8 DOM
9. 2026-06-01
   days on market $219,900 Active 7 DOM
10. 2026-05-31
    days on market $219,900 Active 6 DOM
11. 2026-05-23
    historical $219,900
12. 1999-10-06
    soldstatus $128,000
13. 1999-08-25
    soldstatus $128,000 241-char remark

    Show marketing remark (241 chars)

    !!GREAT HOME!!GREAT PRICE!!UPDATED RANCH W/ NEWOAK KITCHEN & NEWER VINYL WINDOWS!!OPEN FLOORPLAN, FIN. BSMT, LARGE YARD W/ DECK & GREATLOCATION ON A TREELINED STREET!!WHAT MORE COULDYOU ASK FOR??BETTER HURRY THIS ONE WON'T LAST!!

14. 1999-07-27
    historical 241-char remark

    Show marketing remark (241 chars)

    !!GREAT HOME!!GREAT PRICE!!UPDATED RANCH W/ NEWOAK KITCHEN & NEWER VINYL WINDOWS!!OPEN FLOORPLAN, FIN. BSMT, LARGE YARD W/ DECK & GREATLOCATION ON A TREELINED STREET!!WHAT MORE COULDYOU ASK FOR??BETTER HURRY THIS ONE WON'T LAST!!

15. 1999-07-19
    listed $124,900 241-char remark

    Show marketing remark (241 chars)

    !!GREAT HOME!!GREAT PRICE!!UPDATED RANCH W/ NEWOAK KITCHEN & NEWER VINYL WINDOWS!!OPEN FLOORPLAN, FIN. BSMT, LARGE YARD W/ DECK & GREATLOCATION ON A TREELINED STREET!!WHAT MORE COULDYOU ASK FOR??BETTER HURRY THIS ONE WON'T LAST!!

16. 1993-03-17
    soldstatus $86,900

ⓘ 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: $2,779 · $232/mo
• Projected year-2 tax: $2,928 · $244/mo
• Expected delta: +$150/yr (+$12/mo · 5.4%)

ⓘ 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: $19,714
• − Mortgage interest: −$11,198
• − Property taxes: −$2,779
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,577
• − Management: −$1,577
• − Depreciation: −$5,815
• Taxable loss: −$4,231
• Est. tax savings @ 24.0%: +$1,015
• After-tax cash flow: $232/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): 25,014
• Household income: $68,218
• Rent vs Own: 25.5% rent · 74.5% own
• Severe rent burden: 632.0

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: Predominantly White (66%)
• Race & ethnicity: White 66% Black 18% Asian 9% Two or more races 6% Hispanic / Latino 1%
• Common ancestry: Romanian 14% Lithuanian 3% Arab 2%
• Foreign-born: 15% · Vietnam, Canada, China
• Languages at home: 80% English-only · Other Indo-European 5% Arabic 4% Russian/Polish/Slavic 4%

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: ▼ -223.26%
• Current HPI: 203.6554
• Rent YoY: ▲ 2.52%
• 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

+153.0% since first listed

6 events — show timeline

• 2026-05-23 Coming Soon $219,900 MiRealSource-MiMLS
• 1999-10-06 Sold (Public Records) $128,000 Public Records
• 1999-08-25 Sold (MLS) $128,000 MiRealSource-MiMLS
• 1999-07-27 Listing Removed — MiRealSource-MiMLS
• 1999-07-19 Listed $124,900 MiRealSource-MiMLS
• 1993-03-17 Sold (Public Records) $86,900 Public Records

Property tax history

+2.0%/yr

Latest (2025): $2,779 · +2.2% YoY. Source: county tax records.