426 E Webster St · Ferndale, MI 48220

$200,000

3 bd · 1.0 ba · 929 sqft · SingleFamily public records · 16 Days on market

Built 1938 4,792 sqft lot $215/sqft · 6% below area Est $229k · 13% 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 +13.2/15.0
• Cash flow +10.7/30.0
• Livability +4.5/5.0
• Rent growth +4.1/5.0
• 1% rule +3.6/10.0
• DSCR +3.1/10.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fabulous Ferndale 3-bedroom bungalow! Covered porch welcomes you into the living room with hardwood floors and coved ceilings. Archway to dining room opens to kitchen with appliances included. Two bedrooms on the main level, plus large upper-level bedroom with cedar closet and built-in shelves! Laundry room off the kitchen has access to the backyard with patio and vinyl privacy fence! New roof 2025! New water heater 2024! Broker owned.

Key facts

• Covered porch
• Cedar closet
• Coved ceilings

Tags

• COVERED PORCH
• HARDWOOD FLOORS
• COVED CEILINGS
• ARCHWAY TO DINING ROOM
• KITCHEN WITH APPLIANCES
• CEDAR CLOSET

Property features AI

Finance

• HOA & community: Homeowners association present

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half stories; Vinyl siding
• Construction: Vinyl siding construction; Crawl space foundation; Built area above grade approximately 1,000 (finished)
• Exterior features: Patio; Porch; Shed(s); Paved road frontage; Lot approximately 45 x 110

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator
• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Steam heating; Ceiling fans; Wall/window air conditioning
• Interior features: Hardwood flooring; Disposal
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-96 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $183k (8.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $171k (14.4% below list).
• Recommended offer: $171k (14.4% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 4.5% in Ferndale — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 90/100 on livability (#8 in MI, #103 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+.
• 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; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,614 units permitted in Oakland County in 2024 (721 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.
• Oakland County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 23y 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 $150k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $171,136 (14.4% 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 1938 — 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. 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: 0.86% ✗
• Cap rate: 5.72%
• Cash-on-cash: -2.06%
• DSCR: 0.91
• GRM: 9.7

CMA / ARV

• ARV (median comp): $229,068
• List price: $200,000
• Delta: -15.00%
• 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
384 E Chesterfield St	0.11mi	3/2.0	1,006 (+8%)	2mo	$252,500	$251	76
791 Wordsworth St	0.31mi	3/1.0	1,006 (+8%)	2mo	$240,000	$239	70
1491 E Webster St	0.54mi	3/1.0	908 (-2%)	2mo	$180,000	$198	70
321 E Webster St	0.09mi	3/2.0	1,057 (+14%)	1mo	$315,000	$298	68
1448 E Webster St	0.52mi	3/1.0	985 (+6%)	0mo	$205,000	$208	65
404 W Chesterfield St	0.41mi	2/1.0 (-1)	857 (-8%)	1mo	$215,000	$251	62
207 W Hazelhurst St	0.68mi	2/1.0 (-1)	974 (+5%)	5mo	$190,000	$195	51
486 University St	0.47mi	3/2.0	1,054 (+14%)	1mo	$307,000	$291	51
207 Saint Louis St	0.62mi	3/2.0	1,014 (+9%)	2mo	$255,000	$251	50
292 W Marshall St	0.72mi	3/1.0	1,000 (+8%)	5mo	$250,000	$250	50
918 Saint Louis St	0.67mi	2/1.0 (-1)	1,007 (+8%)	3mo	$140,000	$139	47
808 Laprairie St	0.74mi	2/1.0 (-1)	1,050 (+13%)	2mo	$210,000	$200	37

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: -15.9%
• Equity multiple: 0.42×
• Total profit: $-32,701
• Equity at exit: $29,821

10-year hold

• IRR: -2.5%
• Equity multiple: 0.81×
• Total profit: $-10,821
• Equity at exit: $17,292

Cash invested: $56,000 (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: 9.7×

Monthly cashflow live

• Estimated rent: $1,711 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$316 /mo · $3,791/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $-96

Break-even live

Break-even rent $1,833

Max offer price $183,028

Occupancy floor —

Sensitivity live

Price	-10% $17	-5% $-39	+0% $-96	+5% $-153	+10% $-209
Rent	-10% $-231	-5% $-164	+0% $-96	+5% $-28	+10% $39
Rate	-1.0pp $5	-0.5pp $-45	base $-96	+0.5pp $-148	+1.0pp $-201

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
790 Jewell St Ferndale, MI	2.0	1.0	800	$1,445	$1.81	26d	1	0.21mi
224 Fielding St Ferndale, MI	2.0	1.0	1000	$1,800	$1.80	26d	1	0.34mi
226 Fielding St Ferndale, MI	2.0	1.0	1000	$1,500	$1.50	26d	1	0.35mi
353 W Webster St Ferndale, MI	2.0	1.0	900	$1,525	$1.69	18d	1	0.46mi
1561 E Webster St Ferndale, MI	2.0	1.0	939	$1,600	$1.70	26d	1	0.58mi
1291 W State Fair Ave Detroit, MI	1.0–2.0	1.0	700	$950	$1.36	14d	2	0.71mi
901 Saint Louis St Unit 901-02 Ferndale, MI	2.0	1.0	800	$1,395	$1.74	26d	1	0.71mi
901 Saint Louis St Ferndale, MI	2.0	1.0	800	$1,395	$1.74	45d	1	0.71mi
22111 Woodward Ave Ferndale, MI	2.0	1.0	816	$3,355	$4.11	18d	1	0.71mi
552 E Saratoga St Unit Upper Unit Ferndale, MI	2.0	1.0	700	$1,300	$1.86	26d	1	0.74mi
20643 Stratford Rd Unit 1 Detroit, MI	2.0	1.5	1000	$1,250	$1.25	45d	1	0.79mi
155 W George Ave Hazel Park, MI	2.0	1.0	725	$1,000	$1.38	26d	1	0.82mi
20129 Stratford Rd Unit 2 Detroit, MI	2.0	1.0	1100	$1,223	$1.11	26d	1	0.89mi
2023 Ardmore Dr Ferndale, MI	2.0	1.0	771	$1,250	$1.62	26d	1	0.91mi
425 Vester St Unit A Ferndale, MI	2.0	1.0	525	$1,349	$2.57	7d	1	0.92mi
90 W Meyers Ave Hazel Park, MI	2.0	1.0	831	$1,800	$2.17	26d	1	0.95mi
851 Gardendale St Ferndale, MI	2.0	1.0	933	$1,625	$1.74	26d	1	0.97mi
501 E Breckenridge St Ferndale, MI	3.0	1.0	946	$1,800	$1.90	26d	1	1.01mi
266 W Goulson Ave Hazel Park, MI	3.0	1.0	942	$1,600	$1.70	23d	1	1.08mi
453 E Cambourne St Unit 1 Ferndale, MI	2.0	1.0	1000	$2,500	$2.50	4d	1	1.08mi
2033 Wrenson St Ferndale, MI	3.0	1.0	816	$1,675	$2.05	0d	1	1.09mi
400 E Cambourne St Unit 1 Ferndale, MI	2.0	1.0	1000	$1,400	$1.40	12d	1	1.09mi
407 E Hayes Ave Hazel Park, MI	3.0	1.0	1000	$1,750	$1.75	26d	1	1.09mi
455 E Cambourne St Unit 2 Ferndale, MI	2.0	1.0	900	$2,400	$2.67	4d	1	1.09mi
695 Livernois St Unit 2 Ferndale, MI	2.0	1.0	950	$2,350	$2.47	6d	1	1.09mi
429 E Milton Ave Hazel Park, MI	3.0	2.0	1075	$1,595	$1.48	1d	1	1.11mi
510 Stratford Rd Ferndale, MI	2.0	1.0	965	$1,750	$1.81	45d	1	1.11mi
578 Kensington Ave Ferndale, MI	2.0	1.0	860	$1,600	$1.86	7d	1	1.17mi
430 W 9 Mile Rd Ferndale, MI	1.0–2.0	2.0	826	$2,827	$3.42	0d	2	1.21mi
20038 Santa Rosa Dr Detroit, MI	3.0	1.0	927	$1,300	$1.40	19d	1	1.25mi
19703 Keating St Highland Park, MI	3.0	1.0	1000	$1,200	$1.20	18d	1	1.30mi
1019 E Hayes Ave Unit 1032331P Hazel Park, MI	3.0	1.0	1033	$5,281	$5.11	0d	1	1.44mi
1800 Browning St Ferndale, MI	2.0	1.0	809	$1,600	$1.98	7d	1	1.49mi

Listing history 27 events

1. 2026-06-21
   days on market $200,000 Active 16 DOM
2. 2026-06-18
   days on market $200,000 Active 13 DOM
3. 2026-06-17
   days on market $200,000 Active 12 DOM
4. 2026-06-16
   days on market $200,000 Active 11 DOM
5. 2026-06-15
   days on market $200,000 Active 10 DOM
6. 2026-06-13
   days on market $200,000 Active 8 DOM
7. 2026-06-13
   days on market $200,000 Active 7 DOM
8. 2026-06-09
   days on market $200,000 Active 4 DOM
9. 2026-06-08
   days on market $200,000 Active 3 DOM
10. 2026-06-07
    remarks 442-char remark
11. 2026-06-07
    pricestatusdays on marketlisting id $200,000 Active 2 DOM
12. 2026-04-28
    listed $194,711 Active 451-char remark
13. 2026-04-28
    listed $194,711 Active 451-char remark
14. 2021-04-30
    soldstatus $150,000 Sold
15. 2021-04-30
    soldstatus $150,000 Closed
16. 2021-03-28
    status Pending
17. 2021-03-28
    status Pending
18. 2021-03-25
    listed $139,900 Active
19. 2021-03-25
    listed $139,900 Active
20. 2021-03-18
    historical $139,900
21. 2021-03-18
    historical $139,900
22. 2003-12-29
    soldstatus $94,000
23. 2003-10-24
    soldstatus $94,000
24. 2003-10-22
    historical
25. 2003-08-18
    listed $95,000
26. 1988-05-01
    soldstatus $33,500
27. 1978-09-01
    soldstatus $19,900

ⓘ 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: $3,791 · $316/mo
• Projected year-2 tax: $3,791 · $316/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 6/10 Major FEMA zone X (unshaded) · 69% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,536
• − Mortgage interest: −$11,203
• − Property taxes: −$3,791
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,643
• − Management: −$1,643
• − Depreciation: −$5,818
• Taxable loss: −$4,562
• Est. tax savings @ 24.0%: +$1,095
• After-tax cash flow: $-58/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 — Ferndale

• Score: 90/100
• State rank: #8
• US rank: #103

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ferndale, MI
• County: Oakland County · 1,009,092 people
• City population: 21,527
• 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

+905.0% since first listed

20 events — show timeline

• 2026-06-05 Listed $200,000 MiRealSource-MiMLS
• 2026-06-05 Listed $200,000 REALCOMP
• 2026-05-23 Listing Removed — REALCOMP
• 2026-05-23 Listing Removed — MiRealSource-MiMLS
• 2026-04-28 Listed $194,711 REALCOMP
• 2026-04-28 Listed $194,711 MiRealSource-MiMLS
• 2021-04-30 Sold (MLS) $150,000 MiRealSource-MiMLS
• 2021-04-30 Sold (MLS) $150,000 REALCOMP
• 2021-03-28 Pending — MiRealSource-MiMLS
• 2021-03-28 Pending — REALCOMP
• 2021-03-25 Listed $139,900 MiRealSource-MiMLS
• 2021-03-25 Listed $139,900 REALCOMP
• 2021-03-18 Coming Soon $139,900 MiRealSource-MiMLS
• 2021-03-18 Coming Soon $139,900 REALCOMP
• 2003-12-29 Sold (Public Records) $94,000 Public Records
• 2003-10-24 Sold (MLS) $94,000 MiRealSource-MiMLS
• 2003-10-22 Listing Removed — MiRealSource-MiMLS
• 2003-08-18 Listed $95,000 MiRealSource-MiMLS
• 1988-05-01 Sold (Public Records) $33,500 Public Records
• 1978-09-01 Sold (Public Records) $19,900 Public Records

Property tax history

+9.1%/yr

Latest (2025): $3,791 · +1.4% YoY. Source: county tax records.