21005 Reimanville Ave · Detroit, MI 48220

$129,900

5 bd · 1.5 ba · 1,525 sqft · SingleFamily public records · 60 Days on market

Built 1974 5,227 sqft lot $85/sqft · 35% below area Est $200k · 35% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.1/5.0
• Livability +3.7/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention Investors and Contractors! This spacious 5-bedroom, 2-bath quad-level home in Royal Heights offers incredible potential for a high-value renovation. Featuring a large floor plan and a solid 1974 build, this property is a blank canvas ready for a full rehab. Located in the Ferndale school district with easy access to major thoroughfares. Being sold as-is - bring your vision and design ideas!!!

Key facts

• Easy access
• Large floor plan
• Solid build

Tags

• LARGE FLOOR PLAN
• SOLID BUILD
• EASY ACCESS

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Ground-level entry
• Construction: Constructed with block, brick and wood siding; Block foundation
• Exterior features: Paved road access; Lot approximately 0.12 acres (40 x 135)

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: 7 total rooms; Unfinished basement

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $803 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.7% vs local median 10.0% in Detroit — 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 73/100 on livability (#218 in MI) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment F.
• 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; 2 comparable units currently listed for rent nearby; 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 $898 of loan paydown is wiped out by about $4k 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 $36k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $23k; list at $130k implies a 467% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price.

Recommended offer $126,003 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 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 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F 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?
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: 1.87% ✓
• Cap rate: 13.71%
• Cash-on-cash: 26.50%
• DSCR: 2.18
• GRM: 4.5

CMA / ARV

• ARV (median comp): $199,750
• List price: $129,900
• Delta: -34.97%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21004 Reimanville Ave	0.03mi	5/3.0	1,604 (+5%)	8mo	$165,000	$103	77
21032 Woodside Ave	0.23mi	5/2.0	1,684 (+10%)	6mo	$205,000	$122	65
20863 Garden Ln	0.16mi	4/1.5 (-1)	1,339 (-12%)	11mo	$85,000	$63	58
1003 Emwill St	0.61mi	4/1.0 (-1)	1,542 (+1%)	10mo	$200,000	$130	54
20470 Kentucky St	0.37mi	4/1.0 (-1)	1,408 (-8%)	11mo	$105,000	$75	54
20823 Bethlawn Blvd	0.11mi	4/2.5 (-1)	1,317 (-14%)	13mo	$275,000	$209	52
21020 Bethlawn Blvd	0.11mi	4/2.0 (-1)	1,344 (-12%)	24mo	$84,000	$63	48
20817 Mendota Ave	0.54mi	4/2.0 (-1)	1,570 (+3%)	23mo	$223,000	$142	44
1445 W Saratoga St	0.68mi	4/1.0 (-1)	1,544 (+1%)	20mo	$300,000	$194	42
20427 Wyoming St	0.46mi	4/1.5 (-1)	1,310 (-14%)	10mo	$85,000	$65	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 · 6.24% rent growth · sell at horizon

5-year hold

• IRR: 24.4%
• Equity multiple: 2.06×
• Total profit: $38,426
• Equity at exit: $19,369

10-year hold

• IRR: 34.5%
• Equity multiple: 4.73×
• Total profit: $135,781
• Equity at exit: $11,231

Cash invested: $36,372 (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: 4.5×

Monthly cashflow live

• Estimated rent: $2,423 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$376 /mo · $4,510/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$509
• Net cashflow: $803

Break-even live

Break-even rent $1,407

Max offer price $129,900

Occupancy floor 62%

Sensitivity live

Price	-10% $877	-5% $840	+0% $803	+5% $766	+10% $730
Rent	-10% $612	-5% $707	+0% $803	+5% $899	+10% $995
Rate	-1.0pp $869	-0.5pp $836	base $803	+0.5pp $769	+1.0pp $735

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19986 Cherrylawn St Detroit, MI	4.0	1.5	1144	$1,700	$1.49	19d	1	0.63mi
320 E Troy St Ferndale, MI	4.0	2.0	1627	$2,200	$1.35	45d	1	1.49mi

Listing history 18 events

1. 2026-06-21
   days on market $129,900 Active 60 DOM
2. 2026-06-18
   days on market $129,900 Active 57 DOM
3. 2026-06-17
   days on market $129,900 Active 56 DOM
4. 2026-06-16
   days on market $129,900 Active 55 DOM
5. 2026-06-15
   days on market $129,900 Active 54 DOM
6. 2026-06-13
   days on market $129,900 Active 52 DOM
7. 2026-06-13
   days on market $129,900 Active 51 DOM
8. 2026-06-09
   days on market $129,900 Active 48 DOM
9. 2026-06-08
   days on market $129,900 Active 47 DOM
10. 2026-06-07
    days on market $129,900 Active 46 DOM
11. 2026-06-04
    days on market $129,900 Active 43 DOM
12. 2026-06-03
    days on market $129,900 Active 42 DOM
13. 2026-06-02
    days on market $129,900 Active 41 DOM
14. 2026-06-01
    days on market $129,900 Active 40 DOM
15. 2026-05-31
    days on market $129,900 Active 39 DOM
16. 2026-04-22
    listed $139,999 Active 409-char remark

    Show marketing remark (405 chars)

    Attention Investors and Contractors! This spacious 5-bedroom, 2-bath quad-level home in Royal Heights offers incredible potential for a high-value renovation. Featuring a large floor plan and a solid 1974 build, this property is a blank canvas ready for a full rehab. Located in the Ferndale school district with easy access to major thoroughfares. Being sold as-is - bring your vision and design ideas!!!

17. 2026-04-22
    listed $139,999 Active 405-char remark

    Show marketing remark (405 chars)

    Attention Investors and Contractors! This spacious 5-bedroom, 2-bath quad-level home in Royal Heights offers incredible potential for a high-value renovation. Featuring a large floor plan and a solid 1974 build, this property is a blank canvas ready for a full rehab. Located in the Ferndale school district with easy access to major thoroughfares. Being sold as-is - bring your vision and design ideas!!!

18. 1971-12-01
    soldstatus $22,900

ⓘ 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: $4,510 · $376/mo
• Projected year-2 tax: $4,510 · $376/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,078
• − Mortgage interest: −$7,276
• − Property taxes: −$4,510
• − Insurance: −$650
• − Repairs & maintenance: −$2,326
• − Management: −$2,326
• − Depreciation: −$3,779
• Taxable income: $8,211
• Est. tax owed @ 24.0%: −$1,971
• After-tax cash flow: $7,667/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 — Detroit

• Score: 73/100
• State rank: #218
• US rank: #5427

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Oakland County · 1,009,092 people
• City population: 572,865
• 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

+467.2% since first listed

5 events — show timeline

• 2026-05-30 Price Changed $129,900 MiRealSource-MiMLS
• 2026-05-30 Price Changed $129,900 REALCOMP
• 2026-04-22 Listed $139,999 REALCOMP
• 2026-04-22 Listed $139,999 MiRealSource-MiMLS
• 1971-12-01 Sold (Public Records) $22,900 Public Records

Property tax history

+10.2%/yr

Latest (2025): $4,510 · +100.1% YoY. Source: county tax records.