1015 W Marshall St · Ferndale, MI 48220

$210,000

3 bd · 2.0 ba · 2,317 sqft · SingleFamily public records · 7 Days on market

Built 1923 6,098 sqft lot Est $417k · 50% under

---

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 +27.2/30.0
• ARV discount +15.0/15.0
• DSCR +9.4/10.0
• 1% rule +7.3/10.0
• Livability +4.5/5.0
• Rent growth +4.1/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Centrally located in Ferndale, this 3-bedroom, 2.0-bath home offers a fantastic opportunity for investors or buyers looking to build instant equity with thoughtful updates. Owned by the same family for generations, the property is ready for its next chapter. Inside, you'll find spacious rooms with a functional layout that includes a separate living room and dining room. The living room features a fireplace, adding warmth and character. The third bedroom is located upstairs, providing additional privacy and flexibility for a home office or guest space. The basement includes a second full bathroom, laundry area, and ample storage space. Outside, enjoy a deep, large fenced-in lot along with a detached single-car garage - plenty of room for outdoor living, gardening, or future improvements. Home Sold AS IS.

Key facts

• Ample storage space
• Laundry area
• Second full bathroom

Tags

• SEPARATE LIVING ROOM
• DETACHED SINGLE-CAR GARAGE
• DEEP LARGE FENCED-IN LOT
• SECOND FULL BATHROOM
• LAUNDRY AREA
• AMPLE STORAGE SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $599 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $210k).
• Cap rate 9.7% vs local median 4.5% in Ferndale — 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 90/100 on livability (#8 in MI, #103 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: schools D+.
• 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.
• Market conditions: Rents rising fast (+6.2%/yr); 171 active listings in the ZIP; 4 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).
• This rent runs 34% 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 $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.
• At projected returns (-3.0% appreciation + 6.2% rent growth), your $59k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $210,000

Questions for the listing agent

1. Built in 1923 — 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. 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.
5. 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.
6. 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: 1.23% ✓
• Cap rate: 9.71%
• Cash-on-cash: 12.22%
• DSCR: 1.54
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $417,060
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
804 W Marshall St	0.17mi	3/2.0	2,460 (+6%)	6mo	$320,000	$130	77
520 W Saratoga St	0.49mi	3/2.0	2,372 (+2%)	1mo	$360,000	$152	72
726 W Breckenridge St	0.57mi	3/2.0	2,350 (+1%)	2mo	$402,000	$171	69
860 Gardendale St	0.38mi	4/2.0 (+1)	2,216 (-4%)	4mo	$399,900	$180	67
580 W Lewiston Ave	0.70mi	3/2.5	2,319 (+0%)	0mo	$575,000	$248	65
923 Gardendale St	0.35mi	3/2.0	1,992 (-14%)	0mo	$375,000	$188	60
23031 Republic Ave	0.69mi	4/2.0 (+1)	2,281 (-2%)	1mo	$270,000	$118	59
487 W Troy St	0.47mi	4/2.0 (+1)	2,478 (+7%)	6mo	$346,500	$140	57
1586 W Troy St	0.52mi	3/2.0	2,043 (-12%)	4mo	$370,000	$181	53
546 Leroy St	0.41mi	4/2.0 (+1)	2,003 (-14%)	6mo	$360,000	$180	49
619 Withington St	0.50mi	4/2.0 (+1)	1,971 (-15%)	2mo	$425,000	$216	45
298 W Saratoga St	0.65mi	3/2.0	1,972 (-15%)	4mo	$408,000	$207	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: 5.4%
• Equity multiple: 1.22×
• Total profit: $12,824
• Equity at exit: $31,312

10-year hold

• IRR: 17.6%
• Equity multiple: 2.68×
• Total profit: $98,522
• Equity at exit: $18,157

Cash invested: $58,800 (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: 171
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $2,582 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$253 /mo · $3,032/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$542
• Net cashflow: $599

Break-even live

Break-even rent $1,825

Max offer price $210,000

Occupancy floor 72%

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
611 W Nine Mile Rd Ferndale, MI	2.0	1.5	3100	$3,500	$1.13	24d	1	0.48mi
351 Edgewood Pl Unit 2 Ferndale, MI	3.0	2.0	1600	$2,200	$1.38	18d	1	0.85mi
320 E Troy St Ferndale, MI	4.0	2.0	1627	$2,200	$1.35	43d	1	0.92mi
2554 Woodstock Dr Highland Park, MI	3.0	1.5	1929	$2,250	$1.17	14d	1	1.10mi

Listing history 6 events

1. 2026-03-03
   status Pending 814-char remark

   Show marketing remark (814 chars)

   Centrally located in Ferndale, this 3-bedroom, 2.0-bath home offers a fantastic opportunity for investors or buyers looking to build instant equity with thoughtful updates. Owned by the same family for generations, the property is ready for its next chapter. Inside, you'll find spacious rooms with a functional layout that includes a separate living room and dining room. The living room features a fireplace, adding warmth and character. The third bedroom is located upstairs, providing additional privacy and flexibility for a home office or guest space. The basement includes a second full bathroom, laundry area, and ample storage space. Outside, enjoy a deep, large fenced-in lot along with a detached single-car garage - plenty of room for outdoor living, gardening, or future improvements. Home Sold AS IS.

2. 2026-03-03
   status Pending

   Show marketing remark (814 chars)

   Centrally located in Ferndale, this 3-bedroom, 2.0-bath home offers a fantastic opportunity for investors or buyers looking to build instant equity with thoughtful updates. Owned by the same family for generations, the property is ready for its next chapter. Inside, you'll find spacious rooms with a functional layout that includes a separate living room and dining room. The living room features a fireplace, adding warmth and character. The third bedroom is located upstairs, providing additional privacy and flexibility for a home office or guest space. The basement includes a second full bathroom, laundry area, and ample storage space. Outside, enjoy a deep, large fenced-in lot along with a detached single-car garage - plenty of room for outdoor living, gardening, or future improvements. Home Sold AS IS.

3. 2026-02-28
   historical Accepting Backup Offers 814-char remark

   Show marketing remark (814 chars)

   Centrally located in Ferndale, this 3-bedroom, 2.0-bath home offers a fantastic opportunity for investors or buyers looking to build instant equity with thoughtful updates. Owned by the same family for generations, the property is ready for its next chapter. Inside, you'll find spacious rooms with a functional layout that includes a separate living room and dining room. The living room features a fireplace, adding warmth and character. The third bedroom is located upstairs, providing additional privacy and flexibility for a home office or guest space. The basement includes a second full bathroom, laundry area, and ample storage space. Outside, enjoy a deep, large fenced-in lot along with a detached single-car garage - plenty of room for outdoor living, gardening, or future improvements. Home Sold AS IS.

4. 2026-02-28
   historical Active Under Contract

   Show marketing remark (814 chars)

   Centrally located in Ferndale, this 3-bedroom, 2.0-bath home offers a fantastic opportunity for investors or buyers looking to build instant equity with thoughtful updates. Owned by the same family for generations, the property is ready for its next chapter. Inside, you'll find spacious rooms with a functional layout that includes a separate living room and dining room. The living room features a fireplace, adding warmth and character. The third bedroom is located upstairs, providing additional privacy and flexibility for a home office or guest space. The basement includes a second full bathroom, laundry area, and ample storage space. Outside, enjoy a deep, large fenced-in lot along with a detached single-car garage - plenty of room for outdoor living, gardening, or future improvements. Home Sold AS IS.

5. 2026-02-24
   listed $210,000 Active 814-char remark

   Show marketing remark (814 chars)

   Centrally located in Ferndale, this 3-bedroom, 2.0-bath home offers a fantastic opportunity for investors or buyers looking to build instant equity with thoughtful updates. Owned by the same family for generations, the property is ready for its next chapter. Inside, you'll find spacious rooms with a functional layout that includes a separate living room and dining room. The living room features a fireplace, adding warmth and character. The third bedroom is located upstairs, providing additional privacy and flexibility for a home office or guest space. The basement includes a second full bathroom, laundry area, and ample storage space. Outside, enjoy a deep, large fenced-in lot along with a detached single-car garage - plenty of room for outdoor living, gardening, or future improvements. Home Sold AS IS.

6. 2026-02-24
   listed $210,000 Active

   Show marketing remark (814 chars)

   Centrally located in Ferndale, this 3-bedroom, 2.0-bath home offers a fantastic opportunity for investors or buyers looking to build instant equity with thoughtful updates. Owned by the same family for generations, the property is ready for its next chapter. Inside, you'll find spacious rooms with a functional layout that includes a separate living room and dining room. The living room features a fireplace, adding warmth and character. The third bedroom is located upstairs, providing additional privacy and flexibility for a home office or guest space. The basement includes a second full bathroom, laundry area, and ample storage space. Outside, enjoy a deep, large fenced-in lot along with a detached single-car garage - plenty of room for outdoor living, gardening, or future improvements. Home Sold AS IS.

ⓘ 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: $3,032 · $253/mo
• Projected year-2 tax: $3,133 · $261/mo
• Expected delta: +$101/yr (+$8/mo · 3.3%)

ⓘ 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 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,989
• − Mortgage interest: −$11,763
• − Property taxes: −$3,032
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,479
• − Management: −$2,479
• − Depreciation: −$6,109
• Taxable income: $4,076
• Est. tax owed @ 24.0%: −$978
• After-tax cash flow: $6,206/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: 57,974
• 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

+0.0% since first listed

6 events — show timeline

• 2026-03-03 Pending — MiRealSource-MiMLS
• 2026-03-03 Pending — REALCOMP
• 2026-02-28 Contingent — MiRealSource-MiMLS
• 2026-02-28 Contingent — REALCOMP
• 2026-02-24 Listed $210,000 REALCOMP
• 2026-02-24 Listed $210,000 MiRealSource-MiMLS

Property tax history

+1.6%/yr

Latest (2025): $3,032 · +1.5% YoY. Source: county tax records.