24324 Hebe Ave · Warren, MI 48091

$130,000

1 bd · 1.0 ba · 972 sqft · SingleFamily public records · 15 Days on market

Built 1946 8,276 sqft lot $134/sqft · 14% below area Est $151k · 14% 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 +16.2/30.0
• ARV discount +13.7/15.0
• DSCR +5.0/10.0
• 1% rule +4.0/10.0
• Livability +3.7/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming Warren Ranch with Mature Oak Trees Welcome to this well-maintained 2-bedroom, 1-bath ranch-style home in Warren, surrounded by beautiful mature oak trees that provide shade and curb appeal. This cozy home features a functional layout, comfortable living spaces, and a spacious 1.5-car garage with 220 amp service - perfect for hobbies, workshop space, or additional storage. Conveniently located near shopping, dining, and major roadways, this home offers both comfort and practicality.

Key facts

• 8,276 sq ft lot
• Garage
• Built 1946

Property features AI

Exterior

• Parking: Detached garage; Approximately 1.5 garage spaces
• Utilities: Public water; Public sewer
• Home design: Single family residence; One story; Ground-level entry; Vinyl siding
• Construction: Asphalt roof; Slab foundation
• Exterior features: Back yard fencing; Shed(s); Gravel road access

Interior

• Kitchen: Free-standing gas oven; Free-standing refrigerator; Dishwasher; Range hood; Garbage disposal
• Bedrooms: 5 total rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air; Ceiling fan(s); Forced air heating; Natural gas heating
• Interior features: Dishwasher; Garbage disposal; Range hood; Gas water heater; Crawl space basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $69 ($830/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $117k (9.8% below list).
• Recommended offer: $117k (9.8% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 5.3% in Warren — 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 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.
• Fitzgerald Public Schools (urban): math 8% / reading 23% proficiency, ranked #503 of 540 in MI (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 77% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.4%/yr); 168 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $899 of loan paydown is wiped out by about $4k 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 15 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 6 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.
• Current owner paid $55k; list at $130k implies a 136% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $117,321 (9.8% below list)

Questions for the listing agent

1. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.90% ✗
• Cap rate: 6.93%
• Cash-on-cash: 2.28%
• DSCR: 1.10
• GRM: 9.2

CMA / ARV

• ARV (median comp): $150,618
• List price: $130,000
• Delta: -13.69%
• 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
4259 Stephens Rd	0.17mi	2/1.0 (+1)	950 (-2%)	13mo	$128,800	$136	72
24596 Eureka Ave	0.15mi	2/1.0 (+1)	1,005 (+3%)	13mo	$139,000	$138	72
24248 Cunningham Ave	0.16mi	2/1.0 (+1)	845 (-13%)	7mo	$99,000	$117	60
3342 Bart St	0.67mi	2/1.0 (+1)	942 (-3%)	1mo	$95,000	$101	58
23220 Audrey Ave	0.73mi	2/1.0 (+1)	952 (-2%)	1mo	$169,900	$178	57
23241 Hill Ave	0.72mi	2/1.0 (+1)	912 (-6%)	1mo	$145,000	$159	50
25540 Eureka Dr Dr	0.62mi	2/1.0 (+1)	988 (+2%)	19mo	$110,000	$111	48
3785 Norbert Ave	0.30mi	2/1.0 (+1)	1,075 (+11%)	19mo	$157,000	$146	47
25435 Eureka Dr	0.53mi	2/1.0 (+1)	930 (-4%)	19mo	$105,000	$113	47
3594 Los Angeles Ave	0.73mi	2/1.0 (+1)	1,000 (+3%)	18mo	$116,000	$116	41
3103 Bart St	0.74mi	2/1.0 (+1)	1,070 (+10%)	15mo	$110,000	$103	31
3979 Bart Ave	0.46mi	2/1.5 (+1)	832 (-14%)	22mo	$123,000	$148	29

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 · 2.35% rent growth · sell at horizon

5-year hold

• IRR: -13.4%
• Equity multiple: 0.52×
• Total profit: $-17,431
• Equity at exit: $19,383

10-year hold

• IRR: -5.5%
• Equity multiple: 0.65×
• Total profit: $-12,625
• Equity at exit: $11,240

Cash invested: $36,400 (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 48091

• Rents YoY: 2.4%
• Active inventory: 168
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,173 high
• Mortgage (P&I): −$682
• Tax from tax record: −$122 /mo · $1,461/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $69

Break-even live

Break-even rent $1,086

Max offer price $130,000

Occupancy floor 89%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4652 E 10 Mile Rd Warren, MI	2.0	1.0	950	$1,200	$1.26	44d	1	0.35mi
4385 Frazho Rd Warren, MI	1.0–2.0	1.0	825	$968	$1.17	3d	6	0.83mi
1771 E Woodward Heights Blvd #8 Hazel Park, MI	1.0	1.0	800	$990	$1.24	3d	1	1.24mi
1770 E Woodward Heights Blvd Hazel Park, MI	1.0–2.0	1.0	712	$1,075	$1.51	5d	1	1.25mi
1770 E Woodward Heights Blvd Unit C1 Hazel Park, MI	1.0	1.0	550	$1,350	$2.45	24d	1	1.25mi
1770 E Woodward Heights Blvd Hazel Park, MI	2.0	1.0	850	$1,525	$1.79	13d	1	1.25mi
1770 E Woodward Heights Blvd Unit E3 Hazel Park, MI	2.0	1.0	850	$1,300	$1.53	24d	1	1.25mi
1770 E Woodward Heights Blvd Unit C6 Hazel Park, MI	1.0	1.0	550	$1,100	$2.00	24d	1	1.25mi
3974 Berkshire Ave Warren, MI	1.0	1.0	900	$1,500	$1.67	3d	1	1.38mi

Listing history 16 events

1. 2026-05-15
   listed $130,000 Active 495-char remark

   Show marketing remark (495 chars)

   Charming Warren Ranch with Mature Oak Trees Welcome to this well-maintained 2-bedroom, 1-bath ranch-style home in Warren, surrounded by beautiful mature oak trees that provide shade and curb appeal. This cozy home features a functional layout, comfortable living spaces, and a spacious 1.5-car garage with 220 amp service - perfect for hobbies, workshop space, or additional storage. Conveniently located near shopping, dining, and major roadways, this home offers both comfort and practicality.

2. 2026-05-15
   listed $130,000 Active 500-char remark

   Show marketing remark (495 chars)

   Charming Warren Ranch with Mature Oak Trees Welcome to this well-maintained 2-bedroom, 1-bath ranch-style home in Warren, surrounded by beautiful mature oak trees that provide shade and curb appeal. This cozy home features a functional layout, comfortable living spaces, and a spacious 1.5-car garage with 220 amp service - perfect for hobbies, workshop space, or additional storage. Conveniently located near shopping, dining, and major roadways, this home offers both comfort and practicality.

3. 2026-05-13
   historical $130,000 495-char remark

   Show marketing remark (495 chars)

   Charming Warren Ranch with Mature Oak Trees Welcome to this well-maintained 2-bedroom, 1-bath ranch-style home in Warren, surrounded by beautiful mature oak trees that provide shade and curb appeal. This cozy home features a functional layout, comfortable living spaces, and a spacious 1.5-car garage with 220 amp service - perfect for hobbies, workshop space, or additional storage. Conveniently located near shopping, dining, and major roadways, this home offers both comfort and practicality.

4. 2025-11-10
   historical
5. 2025-10-10
   price $129,899
6. 2025-10-09
   price $129,899
7. 2025-10-05
   status Active
8. 2025-10-05
   status Active
9. 2025-10-01
   historical Active Under Contract
10. 2025-10-01
    historical Accepting Backup Offers
11. 2025-09-20
    listed $129,900 Active
12. 2025-09-20
    listed $129,900 Active
13. 2025-09-19
    historical
14. 2003-10-07
    soldstatus $55,000
15. 1997-05-22
    soldstatus $25,000
16. 1991-07-03
    soldstatus $20,000

ⓘ 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: $1,461 · $122/mo
• Projected year-2 tax: $1,732 · $144/mo
• Expected delta: +$270/yr (+$23/mo · 18.5%)

ⓘ 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: $14,079
• − Mortgage interest: −$7,282
• − Property taxes: −$1,461
• − Insurance: −$650
• − Repairs & maintenance: −$1,126
• − Management: −$1,126
• − Depreciation: −$3,782
• Taxable loss: −$1,349
• Est. tax savings @ 24.0%: +$324
• After-tax cash flow: $1,154/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: Fitzgerald Public Schools
• NCES district ID: 2614460
• Math proficiency: 8% ▼ -8.00%
• Reading proficiency: 23% ▼ -11.00%
• Median HH income: $34,828
• Composite: 12.67/100
• National rank: #9608
• State rank: #503 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): 30,696
• Household income: $54,230
• Rent vs Own: 35.1% rent · 64.9% own
• Severe rent burden: 1296.0

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 0.68)
• Race & ethnicity: White 47% Black 25% Asian 19% Two or more races 5% Hispanic / Latino 3% Native American 2%
• Common ancestry: Romanian 7% Lithuanian 2% Slovak 1%
• Foreign-born: 16% · Canada
• Languages at home: 77% English-only · Other Indo-European 14% Other Asian/Pacific 3% Russian/Polish/Slavic 2%

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: ▼ -199.66%
• Current HPI: 177.9273
• Rent YoY: ▲ 2.35%
• 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

+550.0% since first listed

18 events — show timeline

• 2026-05-29 Pending — MiRealSource-MiMLS
• 2026-05-29 Pending — REALCOMP
• 2026-05-15 Listed $130,000 MiRealSource-MiMLS
• 2026-05-15 Listed $130,000 REALCOMP
• 2026-05-13 Coming Soon $130,000 MiRealSource-MiMLS
• 2025-11-10 Listing Removed — MiRealSource-MiMLS
• 2025-10-10 Price Changed $129,899 MiRealSource-MiMLS
• 2025-10-09 Price Changed $129,899 REALCOMP
• 2025-10-05 Relisted — REALCOMP
• 2025-10-05 Relisted — MiRealSource-MiMLS
• 2025-10-01 Contingent — REALCOMP
• 2025-10-01 Contingent — MiRealSource-MiMLS
• 2025-09-20 Listed $129,900 REALCOMP
• 2025-09-20 Listed $129,900 MiRealSource-MiMLS
• 2025-09-19 Coming Soon — MiRealSource-MiMLS
• 2003-10-07 Sold (Public Records) $55,000 Public Records
• 1997-05-22 Sold (Public Records) $25,000 Public Records
• 1991-07-03 Sold (Public Records) $20,000 Public Records

Property tax history

+1.5%/yr

Latest (2025): $1,461 · +1.7% YoY. Source: county tax records.