12475 Sarsfield Ave · Warren, MI 48089

$46,900

2 bd · 1.0 ba · 624 sqft · SingleFamily public records · 1 Days on market

Built 1941 5,227 sqft lot $75/sqft · 35% below area Est $73k · 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
• Livability +3.7/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention Investors! This small home has great possibilities. It is a 2-bedroom home located back on the lot, with a nice carport. It is in very poor condition but priced to reflect the work needed. Broker/Owner will consider Land Contract terms. Please call us for more information.

Key facts

• 5,227 sq ft lot
• Built 1941

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $47k.

Deal economics

• At list price, monthly cash flow is $666 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $47k).
• Cap rate 23.3% 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.
• Van Dyke Public Schools (urban): math 7% / reading 19% proficiency, ranked #512 of 540 in MI (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.9%/yr); 160 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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 $324 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 2.9% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 21y 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 $38k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $46,900

Questions for the listing agent

1. Built in 1941 — 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. 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.
6. 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.
7. 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: 2.65% ✓
• Cap rate: 23.33%
• Cash-on-cash: 60.84%
• DSCR: 3.71
• GRM: 3.1

CMA / ARV

• ARV (median comp): $72,656
• List price: $46,900
• Delta: -34.07%
• 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
12832 Sherman Ave	0.16mi	2/1.0	696 (+12%)	2mo	$100,000	$144	72
20083 Bradford St	0.60mi	2/1.0	648 (+4%)	0mo	$24,000	$37	65
20520 Dresden St	0.39mi	2/1.5	680 (+9%)	0mo	$33,000	$49	65
13075 Sherman Ave	0.30mi	2/1.0	700 (+12%)	6mo	$83,000	$119	61
13057 Sherman Ave	0.28mi	2/1.0	696 (+12%)	10mo	$104,000	$149	60
13119 Sherman Ave	0.33mi	2/1.0	696 (+12%)	7mo	$80,000	$115	60
13475 Coleen Ave	0.51mi	2/1.0	672 (+8%)	6mo	$65,000	$97	58
13407 Sherman Ave	0.45mi	2/1.0	696 (+12%)	9mo	$79,700	$115	52
22447 Sharrow Ave	0.63mi	2/1.0	696 (+12%)	0mo	$102,000	$147	51
13415 Sherman Ave	0.45mi	2/1.0	710 (+14%)	7mo	$113,300	$160	50
22446 Sharrow Ave	0.65mi	2/1.0	700 (+12%)	6mo	$75,000	$107	44
22811 Sharrow Ave	0.75mi	2/1.0	696 (+12%)	10mo	$99,000	$142	38

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 · 2.94% rent growth · sell at horizon

5-year hold

• IRR: 59.6%
• Equity multiple: 3.65×
• Total profit: $34,741
• Equity at exit: $6,993

10-year hold

• IRR: 64.3%
• Equity multiple: 7.44×
• Total profit: $84,600
• Equity at exit: $4,055

Cash invested: $13,132 (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 48089

• Rents YoY: 2.9%
• Active inventory: 160
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,243 high
• Mortgage (P&I): −$246
• Tax from tax record: −$51 /mo · $607/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $666

Break-even live

Break-even rent $400

Max offer price $46,900

Occupancy floor 41%

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: $11,725
• Closing costs: $1,407
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21412 Waltham Rd Warren, MI	2.0	1.0	696	$1,225	$1.76	43d	1	0.09mi
20242 Hickory St Detroit, MI	3.0	1.0	747	$1,300	$1.74	11d	1	0.62mi
11236 Studebaker Ave Warren, MI	2.0	1.0	672	$1,175	$1.75	43d	1	0.88mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	17d	1	1.21mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	43d	1	1.21mi
11130 Stephens Rd Warren, MI	2.0	1.0	750	$1,300	$1.73	43d	1	1.50mi

Listing history 35 events

1. 2026-06-17
   pricedays on marketlisting id $46,900 Active 1 DOM
2. 2026-06-15
   days on market $47,900 Active 68 DOM
3. 2026-06-13
   days on market $47,900 Active 66 DOM
4. 2026-06-13
   days on market $47,900 Active 65 DOM
5. 2026-06-09
   days on market $47,900 Active 62 DOM
6. 2026-06-08
   days on market $47,900 Active 61 DOM
7. 2026-06-07
   days on market $47,900 Active 60 DOM
8. 2026-06-04
   days on market $47,900 Active 57 DOM
9. 2026-06-03
   pricedays on market $47,900 Active 56 DOM
10. 2026-06-02
    status $49,900 Active 55 DOM
11. 2026-04-28
    price $49,900 283-char remark

    Show marketing remark (283 chars)

    Attention Investors! This small home has great possibilities. It is a 2-bedroom home located back on the lot, with a nice carport. It is in very poor condition but priced to reflect the work needed. Broker/Owner will consider Land Contract terms. Please call us for more information.

12. 2026-04-28
    price $49,900 283-char remark

    Show marketing remark (283 chars)

    Attention Investors! This small home has great possibilities. It is a 2-bedroom home located back on the lot, with a nice carport. It is in very poor condition but priced to reflect the work needed. Broker/Owner will consider Land Contract terms. Please call us for more information.

13. 2026-04-28
    price $49,900

    Show marketing remark (283 chars)

    Attention Investors! This small home has great possibilities. It is a 2-bedroom home located back on the lot, with a nice carport. It is in very poor condition but priced to reflect the work needed. Broker/Owner will consider Land Contract terms. Please call us for more information.

14. 2026-04-23
    price $52,900 283-char remark

    Show marketing remark (283 chars)

    Attention Investors! This small home has great possibilities. It is a 2-bedroom home located back on the lot, with a nice carport. It is in very poor condition but priced to reflect the work needed. Broker/Owner will consider Land Contract terms. Please call us for more information.

15. 2026-04-23
    status Active 283-char remark

    Show marketing remark (283 chars)

    Attention Investors! This small home has great possibilities. It is a 2-bedroom home located back on the lot, with a nice carport. It is in very poor condition but priced to reflect the work needed. Broker/Owner will consider Land Contract terms. Please call us for more information.

16. 2026-04-23
    price $52,900 283-char remark

    Show marketing remark (283 chars)

    Attention Investors! This small home has great possibilities. It is a 2-bedroom home located back on the lot, with a nice carport. It is in very poor condition but priced to reflect the work needed. Broker/Owner will consider Land Contract terms. Please call us for more information.

17. 2026-04-23
    status Active 283-char remark

    Show marketing remark (283 chars)

    Attention Investors! This small home has great possibilities. It is a 2-bedroom home located back on the lot, with a nice carport. It is in very poor condition but priced to reflect the work needed. Broker/Owner will consider Land Contract terms. Please call us for more information.

18. 2026-04-23
    status Active

    Show marketing remark (283 chars)

    Attention Investors! This small home has great possibilities. It is a 2-bedroom home located back on the lot, with a nice carport. It is in very poor condition but priced to reflect the work needed. Broker/Owner will consider Land Contract terms. Please call us for more information.

19. 2026-04-23
    price $52,900

    Show marketing remark (283 chars)

    Attention Investors! This small home has great possibilities. It is a 2-bedroom home located back on the lot, with a nice carport. It is in very poor condition but priced to reflect the work needed. Broker/Owner will consider Land Contract terms. Please call us for more information.

20. 2026-03-05
    status Pending 283-char remark

    Show marketing remark (283 chars)

    Attention Investors! This small home has great possibilities. It is a 2-bedroom home located back on the lot, with a nice carport. It is in very poor condition but priced to reflect the work needed. Broker/Owner will consider Land Contract terms. Please call us for more information.

21. 2026-03-05
    status Pending 283-char remark

    Show marketing remark (283 chars)

    Attention Investors! This small home has great possibilities. It is a 2-bedroom home located back on the lot, with a nice carport. It is in very poor condition but priced to reflect the work needed. Broker/Owner will consider Land Contract terms. Please call us for more information.

22. 2026-03-05
    status Pending

    Show marketing remark (283 chars)

    Attention Investors! This small home has great possibilities. It is a 2-bedroom home located back on the lot, with a nice carport. It is in very poor condition but priced to reflect the work needed. Broker/Owner will consider Land Contract terms. Please call us for more information.

23. 2026-02-16
    listed $49,000 Active 283-char remark

    Show marketing remark (283 chars)

    Attention Investors! This small home has great possibilities. It is a 2-bedroom home located back on the lot, with a nice carport. It is in very poor condition but priced to reflect the work needed. Broker/Owner will consider Land Contract terms. Please call us for more information.

24. 2026-02-15
    listed $49,000 Active 283-char remark

    Show marketing remark (283 chars)

    Attention Investors! This small home has great possibilities. It is a 2-bedroom home located back on the lot, with a nice carport. It is in very poor condition but priced to reflect the work needed. Broker/Owner will consider Land Contract terms. Please call us for more information.

25. 2026-02-15
    listed $49,000 Active

    Show marketing remark (283 chars)

    Attention Investors! This small home has great possibilities. It is a 2-bedroom home located back on the lot, with a nice carport. It is in very poor condition but priced to reflect the work needed. Broker/Owner will consider Land Contract terms. Please call us for more information.

26. 2006-06-14
    soldstatus $37,500
27. 2006-06-02
    soldstatus $37,500
28. 2006-06-02
    soldstatus $37,500
29. 2006-05-27
    historical
30. 2006-02-06
    listed $43,800
31. 2006-02-06
    listed $43,800
32. 2006-02-06
    historical
33. 2006-02-06
    historical
34. 2005-08-17
    listed $48,800
35. 2005-08-17
    listed $48,800

ⓘ 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: $607 · $51/mo
• Projected year-2 tax: $665 · $55/mo
• Expected delta: +$58/yr (+$5/mo · 9.5%)

ⓘ 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 ≥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: $14,914
• − Mortgage interest: −$2,627
• − Property taxes: −$607
• − Insurance: −$234
• − Repairs & maintenance: −$1,193
• − Management: −$1,193
• − Depreciation: −$1,364
• Taxable income: $7,695
• Est. tax owed @ 24.0%: −$1,847
• After-tax cash flow: $6,142/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: Van Dyke Public Schools
• NCES district ID: 2634680
• Math proficiency: 7% ▼ -11.00%
• Reading proficiency: 19% ▼ -5.00%
• Median HH income: $33,231
• Composite: 10.46/100
• National rank: #9784
• State rank: #512 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): 31,853
• Household income: $52,366
• Rent vs Own: 43.4% rent · 56.6% own
• Severe rent burden: 1754.0

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 0.61)
• Race & ethnicity: White 53% Black 31% Asian 7% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Romanian 11% Lithuanian 3% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Other Asian/Pacific 3% Other Indo-European 2% Arabic 1%

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: ▼ -211.46%
• Current HPI: 154.8325
• Rent YoY: ▲ 2.94%
• 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

+2.3% since first listed

25 events — show timeline

• 2026-04-28 Price Changed $49,900 MiRealSource-MiMLS
• 2026-04-28 Price Changed $49,900 REALCOMP
• 2026-04-28 Price Changed $49,900 SW Michigan MLS
• 2026-04-23 Price Changed $52,900 MiRealSource-MiMLS
• 2026-04-23 Relisted — REALCOMP
• 2026-04-23 Price Changed $52,900 REALCOMP
• 2026-04-23 Relisted — MiRealSource-MiMLS
• 2026-04-23 Relisted — SW Michigan MLS
• 2026-04-23 Price Changed $52,900 SW Michigan MLS
• 2026-03-05 Pending — REALCOMP
• 2026-03-05 Pending — MiRealSource-MiMLS
• 2026-03-05 Pending — SW Michigan MLS
• 2026-02-16 Listed $49,000 REALCOMP
• 2026-02-15 Listed $49,000 SW Michigan MLS
• 2026-02-15 Listed $49,000 MiRealSource-MiMLS
• 2006-06-14 Sold (Public Records) $37,500 Public Records
• 2006-06-02 Sold (MLS) $37,500 REALCOMP
• 2006-06-02 Sold (MLS) $37,500 MiRealSource-MiMLS
• 2006-05-27 Listing Removed — MiRealSource-MiMLS
• 2006-02-06 Listing Removed — REALCOMP
• 2006-02-06 Listing Removed — MiRealSource-MiMLS
• 2006-02-06 Listed $43,800 REALCOMP
• 2006-02-06 Listed $43,800 MiRealSource-MiMLS
• 2005-08-17 Listed $48,800 REALCOMP
• 2005-08-17 Listed $48,800 MiRealSource-MiMLS

Property tax history

+2.3%/yr

Latest (2025): $607 · +2.5% YoY. Source: county tax records.