21724 Audrey Ave · Warren, MI 48091

$159,500

3 bd · 1.0 ba · 939 sqft · SingleFamily public records · 4 Days on market

Built 1955 7,405 sqft lot Est $145k · 10% over

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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 +16.4/30.0
• DSCR +5.1/10.0
• 1% rule +4.0/10.0
• Livability +3.7/5.0
• Rent growth +3.1/5.0
• ARV discount +2.9/15.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come check out this adorable ranch in Warren! So many of the expensive updates are done already, so all that is left is to give it your personal touches and make it a home! Furnace & AC were done in 2024, windows 2017, hot water heater 2011, roof 2010, main bath has been updated, wood blinds etc!! This 3 bedroom 2 bathroom home is ready for new people to continue its journey and become a place where memories are made and comfortable times are spent! The layout flows well, the basement has tons of room for activities, and the backyard is great for entertaining! Under the carpet in the living room there is the wood flooring!! There is a second full bathroom in the basement, it isn't fancy, but it works! This gem awaits, come make it yours!

Key facts

• Furnace and ac
• Basement room
• Hot water heater

Tags

• FURNACE AND AC
• HOT WATER HEATER
• MAIN BATH UPDATED
• WOOD BLINDS
• BASEMENT ROOM
• BACKYARD ENTERTAINING

Property features AI

Exterior

• Parking: Detached garage with 2 spaces; Driveway; Garage faces front; Garage door opener
• Utilities: Public water; Public sewer; 220 volt electric service
• Home design: Single-family residence; One story; Ground-level entry with steps; Aluminum siding, block and brick construction; Asphalt roof; Pets allowed
• Construction: Built with aluminum siding, block and brick; Asphalt roof; Full unfinished basement
• Exterior features: Awnings; Exterior lighting; Covered patio and porch; Back yard fencing; Paved road access

Interior

• Kitchen: Free-standing electric range; Free-standing refrigerator; Dishwasher not listed
• Bedrooms: 8 total rooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air; Ceiling fans; Forced-air heating; Natural gas heating
• Interior features: Smart thermostat; Unfurnished
• Laundry & utility: Washer; Dryer; Laundry room with washer and gas dryer hookups; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $91 ($1k/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 $143k (10.4% below list).
• Recommended offer: $143k (10.4% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 5.2% 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: amenities D, employment D, crime 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.
• Zoned schools: Mound Park Elementary School (math 6% / reading 16%, grade F, #1,226 of 1,397 statewide, top 88%, 260 students, 87% FRL); Pd Chatterton Middle School (math 9% / reading 27%, grade F, #433 of 493 statewide, top 88%, 410 students, 86% FRL); Fitzgerald Senior High School (math 8% / reading 26%, grade F, #636 of 713 statewide, top 89%, 806 students, 82% FRL).
• Market conditions: Rents rising (+2.4%/yr); 170 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 1,321 units permitted in Macomb County in 2024 (86 in 5+ unit buildings).
• This rent runs 32% of the median local income ($54k/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 $1k of loan paydown is wiped out by about $5k 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 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 29y ago 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 $82k; list at $160k implies a 95% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $142,944 (10.4% below list)

Questions for the listing agent

1. Built in 1955 — 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: 6.98%
• Cash-on-cash: 2.44%
• DSCR: 1.11
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $144,606
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
22011 Masch Ave	0.18mi	3/1.0	1,000 (+6%)	5mo	$163,000	$163	77
22369 Cunningham Ave	0.36mi	3/1.0	900 (-4%)	1mo	$150,000	$167	75
21410 Panama St	0.32mi	2/1.0 (-1)	900 (-4%)	5mo	$72,000	$80	70
22595 Curie Ave	0.34mi	2/1.0 (-1)	887 (-6%)	4mo	$40,000	$45	66
23220 Audrey Ave	0.57mi	2/1.0 (-1)	952 (+1%)	1mo	$169,900	$178	65
22694 Le Fever Ave	0.49mi	3/1.0	1,000 (+6%)	2mo	$154,000	$154	64
21034 Atlantic Ave	0.35mi	3/1.0	836 (-11%)	5mo	$120,000	$144	61
23241 Hill Ave	0.61mi	2/1.0 (-1)	912 (-3%)	1mo	$145,000	$159	60
22321 Logue Ave	0.47mi	3/1.0	1,018 (+8%)	6mo	$145,000	$142	59
21029 Blackmar Ave	0.44mi	3/1.0	1,062 (+13%)	6mo	$120,000	$113	53
20818 Atlantic Ave	0.43mi	2/1.0 (-1)	836 (-11%)	6mo	$72,000	$86	52
23311 Panama Ave	0.69mi	3/1.0	1,015 (+8%)	3mo	$175,000	$172	52

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: -13.1%
• Equity multiple: 0.53×
• Total profit: $-21,009
• Equity at exit: $23,782

10-year hold

• IRR: -5.2%
• Equity multiple: 0.67×
• Total profit: $-14,682
• Equity at exit: $13,791

Cash invested: $44,660 (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: 170
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,429 high
• Mortgage (P&I): −$836
• Tax from tax record: −$136 /mo · $1,627/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $91

Break-even live

Break-even rent $1,315

Max offer price $159,500

Occupancy floor 89%

Sensitivity live

Price	-10% $181	-5% $136	+0% $91	+5% $46	+10% $1
Rent	-10% $-22	-5% $34	+0% $91	+5% $147	+10% $204
Rate	-1.0pp $171	-0.5pp $131	base $91	+0.5pp $49	+1.0pp $7

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: $39,875
• Closing costs: $4,785
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21410 Panama St Warren, MI	3.0	1.0	900	$1,600	$1.78	26d	1	0.35mi
22580 Masch Ave Warren, MI	3.0	1.0	988	$1,450	$1.47	26d	1	0.37mi
21465 Syracuse Ave Warren, MI	3.0	1.0	990	$1,375	$1.39	45d	1	0.40mi
22622 Panama Ave Warren, MI	3.0	1.5	920	$1,395	$1.52	12d	1	0.42mi
20794 Audrey Ave Warren, MI	3.0	1.0	954	$1,350	$1.42	45d	1	0.47mi
20263 Caldwell St Detroit, MI	3.0	1.0	909	$1,350	$1.49	18d	1	0.80mi
3840 Bart Ave Warren, MI	3.0	1.0	1062	$1,350	$1.27	26d	1	0.97mi
19930 Binder St Detroit, MI	3.0	1.0	1000	$1,450	$1.45	18d	1	1.16mi
7043 Meadow Ave Warren, MI	2.0	1.0	911	$1,274	$1.40	45d	1	1.17mi
7033 Westminster Ave Warren, MI	2.0	1.0	561	$1,050	$1.87	45d	1	1.18mi
7060 Victory Ave Warren, MI	3.0	1.0	945	$1,450	$1.53	13d	1	1.19mi
21155 Warner Ave Warren, MI	2.0	1.0	756	$1,029	$1.36	26d	1	1.21mi
6847 Continental Ave Warren, MI	4.0	1.0	1000	$1,595	$1.59	1d	1	1.22mi
19450 Fenelon St Detroit, MI	3.0	1.0	1062	$1,384	$1.30	6d	1	1.24mi
7275 Chalmers Ave Warren, MI	2.0	1.0	703	$1,200	$1.71	26d	1	1.27mi
20255 Harned St Detroit, MI	3.0	1.0	1000	$1,374	$1.37	18d	1	1.29mi
7511 Toepfer Rd Warren, MI	3.0	1.0	1032	$1,199	$1.16	23d	1	1.30mi
2709 Capitol Ave Warren, MI	3.0	2.0	1056	$1,649	$1.56	45d	1	1.32mi
19361 Moenart St Unit 1 Detroit, MI	2.0	1.0	1000	$1,100	$1.10	25d	1	1.33mi
19415 Gable St Detroit, MI	3.0	1.0	1000	$1,373	$1.37	26d	1	1.38mi
19260 Bloom St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	6d	1	1.42mi
4652 E 10 Mile Rd Warren, MI	2.0	1.0	950	$1,200	$1.26	45d	1	1.42mi
19694 Gallagher St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	16d	1	1.42mi
19450 Norwood St Detroit, MI	3.0	1.0	1000	$1,200	$1.20	6d	1	1.43mi
21516 Dequindre Rd Warren, MI	1.0–2.0	1.0	837	$1,375	$1.64	23d	1	1.46mi
7605 Jackson Ave Warren, MI	2.0	1.0	600	$1,165	$1.94	26d	1	1.46mi
8036 Hupp Ave Warren, MI	2.0	1.0	680	$1,150	$1.69	45d	1	1.47mi
2034 John B Ave Warren, MI	3.0	1.0	920	$1,261	$1.37	45d	1	1.50mi
19162 Conley St Detroit, MI	2.0	1.0	1000	$1,300	$1.30	45d	1	1.50mi

Listing history 8 events

1. 2026-05-01
   status Pending 753-char remark

   Show marketing remark (753 chars)

   Come check out this adorable ranch in Warren! So many of the expensive updates are done already, so all that is left is to give it your personal touches and make it a home! Furnace & AC were done in 2024, windows 2017, hot water heater 2011, roof 2010, main bath has been updated, wood blinds etc!! This 3 bedroom 2 bathroom home is ready for new people to continue its journey and become a place where memories are made and comfortable times are spent! The layout flows well, the basement has tons of room for activities, and the backyard is great for entertaining! Under the carpet in the living room there is the wood flooring!! There is a second full bathroom in the basement, it isn't fancy, but it works! This gem awaits, come make it yours!

2. 2026-05-01
   status Pending

   Show marketing remark (753 chars)

   Come check out this adorable ranch in Warren! So many of the expensive updates are done already, so all that is left is to give it your personal touches and make it a home! Furnace & AC were done in 2024, windows 2017, hot water heater 2011, roof 2010, main bath has been updated, wood blinds etc!! This 3 bedroom 2 bathroom home is ready for new people to continue its journey and become a place where memories are made and comfortable times are spent! The layout flows well, the basement has tons of room for activities, and the backyard is great for entertaining! Under the carpet in the living room there is the wood flooring!! There is a second full bathroom in the basement, it isn't fancy, but it works! This gem awaits, come make it yours!

3. 2026-04-27
   listed $159,500 Active

   Show marketing remark (753 chars)

   Come check out this adorable ranch in Warren! So many of the expensive updates are done already, so all that is left is to give it your personal touches and make it a home! Furnace & AC were done in 2024, windows 2017, hot water heater 2011, roof 2010, main bath has been updated, wood blinds etc!! This 3 bedroom 2 bathroom home is ready for new people to continue its journey and become a place where memories are made and comfortable times are spent! The layout flows well, the basement has tons of room for activities, and the backyard is great for entertaining! Under the carpet in the living room there is the wood flooring!! There is a second full bathroom in the basement, it isn't fancy, but it works! This gem awaits, come make it yours!

4. 2026-04-27
   listed $159,500 Active 753-char remark

   Show marketing remark (753 chars)

   Come check out this adorable ranch in Warren! So many of the expensive updates are done already, so all that is left is to give it your personal touches and make it a home! Furnace & AC were done in 2024, windows 2017, hot water heater 2011, roof 2010, main bath has been updated, wood blinds etc!! This 3 bedroom 2 bathroom home is ready for new people to continue its journey and become a place where memories are made and comfortable times are spent! The layout flows well, the basement has tons of room for activities, and the backyard is great for entertaining! Under the carpet in the living room there is the wood flooring!! There is a second full bathroom in the basement, it isn't fancy, but it works! This gem awaits, come make it yours!

5. 1997-06-19
   soldstatus $81,900
6. 1997-05-08
   soldstatus $81,900
7. 1997-04-21
   historical
8. 1997-03-18
   listed $81,900

ⓘ 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: $1,627 · $136/mo
• Projected year-2 tax: $2,042 · $170/mo
• Expected delta: +$415/yr (+$35/mo · 25.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 55% 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: $17,153
• − Mortgage interest: −$8,934
• − Property taxes: −$1,627
• − Insurance: −$798
• − Repairs & maintenance: −$1,372
• − Management: −$1,372
• − Depreciation: −$4,640
• Taxable loss: −$1,590
• Est. tax savings @ 24.0%: +$382
• After-tax cash flow: $1,471/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

+94.7% since first listed

8 events — show timeline

• 2026-05-01 Pending — MiRealSource-MiMLS
• 2026-05-01 Pending — REALCOMP
• 2026-04-27 Listed $159,500 REALCOMP
• 2026-04-27 Listed $159,500 MiRealSource-MiMLS
• 1997-06-19 Sold (Public Records) $81,900 Public Records
• 1997-05-08 Sold (MLS) $81,900 MiRealSource-MiMLS
• 1997-04-21 Listing Removed — MiRealSource-MiMLS
• 1997-03-18 Listed $81,900 MiRealSource-MiMLS

Property tax history

+2.3%/yr

Latest (2025): $1,627 · +2.5% YoY. Source: county tax records.