1031 E Breckenridge St · Ferndale, MI 48220

$150,000

2 bd · 1.0 ba · 1,098 sqft · SingleFamily public records · 10 Days on market

Built 1931 Est $262k · 43% under

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Why this score? — see what drove the C+ 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 +21.3/30.0
• ARV discount +15.0/15.0
• 1% rule +6.9/10.0
• DSCR +6.8/10.0
• Livability +4.5/5.0
• Rent growth +4.1/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a bank owned home to be sold in as is condition. Good condition. Priced to sell fast.

Key facts

• Privacy fence
• Built 1931
• Listed 9 days

Tags

• PRIVACY FENCE
• ORIGINAL HARDWOOD FLOORS
• DETACHED ONE CAR GARAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $219 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 8.0% 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+.
• Hazel Park School District (suburban): math 10% / reading 24% proficiency, ranked #490 of 540 in MI (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.2%/yr); 171 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $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 $42k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 20y 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 $29k; list at $150k implies a 420% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1931 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $150,000

Questions for the listing agent

1. Built in 1931 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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: 1.19% ✓
• Cap rate: 8.04%
• Cash-on-cash: 6.25%
• DSCR: 1.28
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $262,422
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1130 E Breckenridge St	0.05mi	2/1.0	1,062 (-3%)	2mo	$135,000	$127	90
416 E Breckenridge St	0.42mi	2/1.0	1,101 (+0%)	0mo	$295,000	$268	80
2723 Wolcott St	0.47mi	2/1.0	1,098 (0%)	0mo	$252,000	$230	78
560 E Oakridge St	0.58mi	3/1.0 (+1)	1,084 (-1%)	2mo	$275,000	$254	65
2000 Moorhouse St	0.53mi	2/1.0	998 (-9%)	1mo	$132,500	$133	60
486 University St	0.51mi	3/2.0 (+1)	1,054 (-4%)	1mo	$307,000	$291	59
350 Vester St	0.38mi	3/1.0 (+1)	1,209 (+10%)	1mo	$286,000	$237	59
3221 Harris St	0.72mi	3/1.0 (+1)	1,128 (+3%)	0mo	$269,900	$239	56
448 Wordsworth St	0.69mi	3/1.0 (+1)	1,182 (+8%)	1mo	$255,000	$216	49
791 Wordsworth St	0.66mi	3/1.0 (+1)	1,006 (-8%)	2mo	$240,000	$239	49
2171 Chestnut St	0.53mi	3/1.0 (+1)	967 (-12%)	2mo	$240,000	$248	49
2840 Horton St	0.61mi	3/1.0 (+1)	948 (-14%)	2mo	$220,000	$232	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: -2.6%
• Equity multiple: 0.90×
• Total profit: $-4,252
• Equity at exit: $22,365

10-year hold

• IRR: 10.7%
• Equity multiple: 1.98×
• Total profit: $41,062
• Equity at exit: $12,969

Cash invested: $42,000 (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: 171
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,784 high
• Mortgage (P&I): −$787
• Tax from tax record: −$341 /mo · $4,097/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $219

Break-even live

Break-even rent $1,507

Max offer price $150,000

Occupancy floor 83%

Sensitivity live

Price	-10% $304	-5% $261	+0% $219	+5% $176	+10% $134
Rent	-10% $78	-5% $148	+0% $219	+5% $289	+10% $360
Rate	-1.0pp $294	-0.5pp $257	base $219	+0.5pp $180	+1.0pp $140

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
501 E Breckenridge St Ferndale, MI	3.0	1.0	946	$1,800	$1.90	24d	1	0.32mi
552 E Saratoga St Unit Upper Unit Ferndale, MI	2.0	1.0	700	$1,300	$1.86	24d	1	0.36mi
453 E Cambourne St Unit 1 Ferndale, MI	2.0	1.0	1000	$2,500	$2.50	3d	1	0.39mi
455 E Cambourne St Unit 2 Ferndale, MI	2.0	1.0	900	$2,400	$2.67	3d	1	0.39mi
1201 Woodward Hts Ferndale, MI	2.0	2.0	1200	$2,045	$1.70	24d	1	0.42mi
400 E Cambourne St Unit 1 Ferndale, MI	2.0	1.0	1000	$1,400	$1.40	11d	1	0.45mi
2803 Grayson St Ferndale, MI	3.0	2.0	1274	$2,000	$1.57	44d	1	0.47mi
1820 E Troy St Ferndale, MI	3.0	1.0	1167	$1,500	$1.29	5d	1	0.51mi
1800 Browning St Ferndale, MI	2.0	1.0	809	$1,600	$1.98	5d	1	0.53mi
2705 Inman St Ferndale, MI	3.0	2.5	1429	$3,195	$2.24	2d	1	0.54mi
690 E Marshall St Unit Lower Ferndale, MI	1.0	1.0	700	$1,295	$1.85	11d	1	0.62mi
2420 Woodward Hts Ferndale, MI	3.0	1.0	1316	$2,200	$1.67	24d	1	0.62mi
2186 Garfield St Ferndale, MI	3.0	1.0	1300	$1,750	$1.35	24d	1	0.63mi
2023 Ardmore Dr Ferndale, MI	2.0	1.0	771	$1,250	$1.62	24d	1	0.64mi
2215 Browning St Ferndale, MI	2.0	1.0	739	$1,350	$1.83	5d	1	0.66mi
22111 Woodward Ave Ferndale, MI	2.0	1.0	816	$3,355	$4.11	17d	1	0.73mi
226 Withington St Apt 10 Ferndale, MI	1.0	1.0	800	$1,325	$1.66	18d	1	0.76mi
150 E Woodland St Unit 1 Ferndale, MI	1.0	1.0	700	$1,600	$2.29	44d	1	0.78mi
150 E Woodland St Unit 2 Ferndale, MI	1.0	1.0	700	$1,500	$2.14	44d	1	0.78mi
2181 Coy St Ferndale, MI	3.0	1.0	1050	$1,995	$1.90	11d	1	0.78mi
266 W Goulson Ave Hazel Park, MI	3.0	1.0	942	$1,600	$1.70	22d	1	0.79mi
790 Jewell St Ferndale, MI	2.0	1.0	800	$1,445	$1.81	24d	1	0.86mi
901 Saint Louis St Unit 901-02 Ferndale, MI	2.0	1.0	800	$1,395	$1.74	24d	1	0.88mi
901 Saint Louis St Ferndale, MI	2.0	1.0	800	$1,395	$1.74	44d	1	0.88mi
413 W Nine Mile Rd Ste B Ferndale, MI	1.0	1.0	897	$1,850	$2.06	18d	1	0.91mi
415 W Nine Mile Rd Ferndale, MI	1.0	1.0	912	$2,500	$2.74	18d	1	0.91mi
430 W 9 Mile Rd Ferndale, MI	1.0–2.0	1.0–2.0	754	$2,827	$3.75	2d	3	0.92mi
900 Laprairie St Ferndale, MI	1.0	1.0	700	$1,015	$1.45	44d	1	0.93mi
224 Fielding St Ferndale, MI	2.0	1.0	1000	$1,800	$1.80	24d	1	0.97mi
1816 Guthrie Ave Royal Oak, MI	3.0	1.0	1100	$1,800	$1.64	5d	1	0.97mi
226 Fielding St Ferndale, MI	2.0	1.0	1000	$1,500	$1.50	24d	1	0.97mi
90 W Meyers Ave Hazel Park, MI	2.0	1.0	831	$1,800	$2.17	24d	1	1.03mi
1561 E Webster St Ferndale, MI	2.0	1.0	939	$1,600	$1.70	24d	1	1.06mi
1414 Owana Ave Royal Oak, MI	3.0	1.0	1489	$1,675	$1.12	22d	1	1.08mi
353 W Webster St Ferndale, MI	2.0	1.0	900	$1,525	$1.69	17d	1	1.09mi
322 Jeff Keeton Dr Hazel Park, MI	2.0	2.5	1334	$2,350	$1.76	2d	1	1.11mi
851 Gardendale St Ferndale, MI	2.0	1.0	933	$1,625	$1.74	24d	1	1.12mi
23400 Reynolds Ave Hazel Park, MI	3.0	1.0	1305	$1,900	$1.46	5d	1	1.16mi
23115 Tawas Ave Hazel Park, MI	2.0	1.0	706	$1,375	$1.95	24d	1	1.22mi
23345 Tawas Ave Hazel Park, MI	3.0	1.0	1000	$1,550	$1.55	11d	1	1.23mi

Listing history 7 events

1. 2026-06-15
   days on market $150,000 Active 10 DOM
2. 2026-06-13
   days on market $150,000 Active 8 DOM
3. 2026-06-13
   days on market $150,000 Active 7 DOM
4. 2026-06-09
   days on market $150,000 Active 4 DOM
5. 2026-06-08
   days on market $150,000 Active 3 DOM
6. 2026-06-07
   remarks 699-char remark
7. 2026-06-07
   listed $150,000 Active 2 DOM

ⓘ 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: $4,097 · $341/mo
• Projected year-2 tax: $4,097 · $341/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 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,406
• − Mortgage interest: −$8,402
• − Property taxes: −$4,097
• − Insurance: −$750
• − Repairs & maintenance: −$1,712
• − Management: −$1,712
• − Depreciation: −$4,364
• Taxable income: $368
• Est. tax owed @ 24.0%: −$88
• After-tax cash flow: $2,536/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: Hazel Park School District
• NCES district ID: 2618030
• Math proficiency: 10% ▼ -2.00%
• Reading proficiency: 24% ▲ 1.00%
• Median HH income: $36,181
• Composite: 14.05/100
• National rank: #9466
• State rank: #490 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

+30.5% since first listed

11 events — show timeline

• 2026-06-06 Listed $150,000 FSBO.com
• 2010-06-02 Sold (Public Records) $28,845 Public Records
• 2007-12-26 Sold (MLS) $28,500 MiRealSource-MiMLS
• 2007-12-26 Sold (MLS) $28,500 REALCOMP
• 2007-12-10 Listing Removed — MiRealSource-MiMLS
• 2007-09-24 Listed $39,900 MiRealSource-MiMLS
• 2007-09-24 Listed $39,900 REALCOMP
• 2007-04-05 Listing Removed — MiRealSource-MiMLS
• 2007-04-05 Listing Removed — REALCOMP
• 2006-10-06 Listed $114,900 MiRealSource-MiMLS
• 2006-10-06 Listed $114,900 REALCOMP

Property tax history

+4.8%/yr

Latest (2025): $4,097 · +35.9% YoY. Source: county tax records.