28678 Hales St · Madison Heights, MI 48071

$210,000

3 bd · 1.5 ba · 1,382 sqft · SingleFamily public records · 2 Days on market

Built 1957 5,227 sqft lot Est $236k · 11% 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 +16.9/30.0
• ARV discount +12.5/15.0
• 1% rule +6.0/10.0
• DSCR +5.2/10.0
• Livability +4.0/5.0
• Schools +3.3/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step into this move in ready 3 bedroom, 1.5 bath home offering a spacious layout and thoughtful updates. The main level features a dedicated dining room, convenient laundry room, and a half bath for guests. The eat in kitchen has been updated with a new countertop and provides a stylish and functional space for everyday meals and entertaining. Fresh paint, new carpet, and natural light throughout gives the home a bright and open feel, while hardwood flooring lies beneath the upstairs carpet offering even more potential. All three bedrooms are located upstairs along with the full bath, creating a private retreat away from the main living areas. The full bathroom features new tile, adding a fresh and modern touch. An added bonus is the flexible upstairs space that offers the potential to create a fourth bedroom, expand the primary bedroom, or a home office to fit your needs. Ideally located close to expressways, parks, and dining this home provides practicality, comfort, and endless possibilities with easy access to commute and all of the amenities Madison Heights and the nearby cities have to offer. Don't miss your opportunity to make it your own!

Key facts

• Updated countertop
• New tile
• 5,227 sq ft lot

Tags

• DEDICATED DINING ROOM
• CONVENIENT LAUNDRY ROOM
• UPDATED COUNTERTOP
• FLEXIBLE UPSTAIRS SPACE
• NEW TILE
• EASY ACCESS TO COMMUTE

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $136 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $210k).
• Cap rate 7.1% vs local median 5.7% in Madison Heights — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 81/100 on livability (#62 in MI, #1,347 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: health & safety D.
• Lamphere Public Schools (suburban): math 28% / reading 49% proficiency, ranked #235 of 540 in MI (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Edmonson Elementary School (math 27% / reading 57%, grade F, #547 of 1,397 statewide, top 41%, 280 students, 56% FRL); Page Middle School (math 23% / reading 47%, grade F, #283 of 493 statewide, top 58%, 554 students, 54% FRL); Lamphere High School (math 32% / reading 57%, grade F, #214 of 713 statewide, top 36%, 729 students, 48% FRL).
• Market conditions: Rents rising (+2.8%/yr); 141 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).
• This rent runs 40% of the median local income ($70k/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.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $134k; list at $210k implies a 57% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $210,000

Questions for the listing agent

1. Built in 1957 — 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: 1.10% ✓
• Cap rate: 7.07%
• Cash-on-cash: 2.79%
• DSCR: 1.12
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $236,322
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
730 Eastlawn Ave	0.28mi	3/1.5	1,458 (+6%)	4mo	$202,000	$139	74
29067 Edward Ave	0.37mi	3/1.0	1,435 (+4%)	9mo	$245,000	$171	67
28767 Alden St	0.23mi	4/3.0 (+1)	1,452 (+5%)	6mo	$260,000	$179	64
29147 Milton Ave	0.31mi	3/1.0	1,237 (-10%)	2mo	$202,500	$164	64
29139 Milton Ave	0.30mi	3/1.0	1,196 (-14%)	1mo	$222,222	$186	61
1233 Elliott Ave	0.44mi	3/1.5	1,500 (+8%)	7mo	$275,000	$183	60
27807 Delton St	0.57mi	3/2.0	1,502 (+9%)	1mo	$240,000	$160	56
28720 Alden St	0.25mi	4/2.0 (+1)	1,587 (+15%)	4mo	$270,000	$170	53
29100 Tawas St	0.33mi	2/1.0 (-1)	1,182 (-14%)	1mo	$210,000	$178	53
29316 Herbert St	0.35mi	3/2.0	1,548 (+12%)	11mo	$260,000	$168	52
27449 Groveland St	0.74mi	3/1.0	1,460 (+6%)	9mo	$255,000	$175	47
1623 Beaupre Ave	0.59mi	3/1.5	1,578 (+14%)	11mo	$248,000	$157	40

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 · 2.81% rent growth · sell at horizon

5-year hold

• IRR: -12.0%
• Equity multiple: 0.56×
• Total profit: $-25,597
• Equity at exit: $31,312

10-year hold

• IRR: -3.1%
• Equity multiple: 0.79×
• Total profit: $-12,166
• 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 48071

• Rents YoY: 2.8%
• Active inventory: 141
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $2,309 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$498 /mo · $5,982/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$485
• Net cashflow: $136

Break-even live

Break-even rent $2,136

Max offer price $210,000

Occupancy floor 89%

Sensitivity live

Price	-10% $255	-5% $196	+0% $136	+5% $77	+10% $18
Rent	-10% $-46	-5% $45	+0% $136	+5% $228	+10% $319
Rate	-1.0pp $242	-0.5pp $190	base $136	+0.5pp $82	+1.0pp $27

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 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1045 E 12 Mile Rd Madison Heights, MI	3.0	1.0	1700	$4,000	$2.35	0d	1	0.16mi
1322 Elliott Ave Madison Heights, MI	3.0	1.5	1500	$2,100	$1.40	19d	1	0.41mi
1554 Cynthia Ave Madison Heights, MI	3.0	1.5	1021	$1,950	$1.91	5d	1	0.44mi
29264 Tessmer Ct Madison Heights, MI	2.0	1.5	1128	$1,395	$1.24	45d	1	0.44mi
14895 Twelve Mile Rd Warren, MI	1.0–2.0	1.0–1.5	1025	$1,560	$1.52	3d	4	0.46mi
29336 Dequindre Rd Unit 103 Warren, MI	2.0	1.0	900	$1,245	$1.38	6d	1	0.62mi
27385 Park Ct Unit 1364147P Madison Heights, MI	3.0	1.0	904	$1,618	$1.79	1d	1	0.63mi
29408 Dequindre Rd Unit 203 Warren, MI	2.0	1.0	900	$1,145	$1.27	6d	1	0.70mi
28218 Diesing Dr Madison Heights, MI	3.0	1.5	1009	$1,700	$1.68	45d	1	0.78mi
28222 Saint Louise Dr Warren, MI	3.0	2.0	1600	$5,500	$3.44	0d	1	0.88mi
27489 Parkview Blvd Warren, MI	1.0–2.0	1.0–1.5	850	$1,465	$1.72	1d	11	0.92mi
642 Bellaire Ave Madison Heights, MI	3.0	2.5	1750	$2,423	$1.38	23d	1	0.96mi
27865 Brettonwoods St Madison Heights, MI	3.0	2.0	964	$2,000	$2.07	13d	1	0.99mi
300 E Thirteen Mile Rd Madison Heights, MI	2.0	1.5	1350	$1,475	$1.09	19d	1	1.16mi
324 E Thirteen Mile Rd Madison Heights, MI	1.0–2.0	1.0–1.5	950	$1,775	$1.87	4d	1	1.24mi
1545 E Thirteen Mile Rd Madison Heights, MI	2.0	1.0–2.0	870	$1,910	$2.20	1d	15	1.24mi
28439 Wexford Dr Warren, MI	3.0	1.5	1253	$2,099	$1.68	26d	1	1.29mi
1132 N Campbell Rd Royal Oak, MI	2.0–3.0	1.0–1.5	1125	$2,085	$1.85	1d	8	1.45mi
317 E Irving Ave Madison Heights, MI	2.0	2.5	1560	$2,700	$1.73	0d	1	1.46mi
1725 Gardenia Ave Royal Oak, MI	2.0	1.0	900	$1,350	$1.50	26d	1	1.49mi

Listing history 3 events

1. 2026-06-21
   statusdays on marketlisting id $210,000 Active 2 DOM
2. 2026-06-18
   remarks 699-char remark

   Show marketing remark (1164 chars)

   Step into this move in ready 3 bedroom, 1.5 bath home offering a spacious layout and thoughtful updates. The main level features a dedicated dining room, convenient laundry room, and a half bath for guests. The eat in kitchen has been updated with a new countertop and provides a stylish and functional space for everyday meals and entertaining. Fresh paint, new carpet, and natural light throughout gives the home a bright and open feel, while hardwood flooring lies beneath the upstairs carpet offering even more potential. All three bedrooms are located upstairs along with the full bath, creating a private retreat away from the main living areas. The full bathroom features new tile, adding a fresh and modern touch. An added bonus is the flexible upstairs space that offers the potential to create a fourth bedroom, expand the primary bedroom, or a home office to fit your needs. Ideally located close to expressways, parks, and dining this home provides practicality, comfort, and endless possibilities with easy access to commute and all of the amenities Madison Heights and the nearby cities have to offer. Don't miss your opportunity to make it your own!

3. 2026-06-18
   listed $210,000 Coming Soon 1 DOM

   Show marketing remark (1164 chars)

   Step into this move in ready 3 bedroom, 1.5 bath home offering a spacious layout and thoughtful updates. The main level features a dedicated dining room, convenient laundry room, and a half bath for guests. The eat in kitchen has been updated with a new countertop and provides a stylish and functional space for everyday meals and entertaining. Fresh paint, new carpet, and natural light throughout gives the home a bright and open feel, while hardwood flooring lies beneath the upstairs carpet offering even more potential. All three bedrooms are located upstairs along with the full bath, creating a private retreat away from the main living areas. The full bathroom features new tile, adding a fresh and modern touch. An added bonus is the flexible upstairs space that offers the potential to create a fourth bedroom, expand the primary bedroom, or a home office to fit your needs. Ideally located close to expressways, parks, and dining this home provides practicality, comfort, and endless possibilities with easy access to commute and all of the amenities Madison Heights and the nearby cities have to offer. Don't miss your opportunity to make it your own!

ⓘ 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: $5,982 · $498/mo
• Projected year-2 tax: $5,982 · $498/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: $27,702
• − Mortgage interest: −$11,763
• − Property taxes: −$5,982
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,216
• − Management: −$2,216
• − Depreciation: −$6,109
• Taxable loss: −$1,634
• Est. tax savings @ 24.0%: +$392
• After-tax cash flow: $2,030/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: Lamphere Public Schools
• NCES district ID: 2621120
• Math proficiency: 28% ▼ -8.00%
• Reading proficiency: 49% ▲ 1.00%
• Median HH income: $44,993
• Composite: 32.69/100
• National rank: #5649
• State rank: #235 of 540 in MI

Livability — Madison Heights

• Score: 81/100
• State rank: #62
• US rank: #1347

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Madison Heights, MI
• County: Oakland County · 1,009,092 people
• City population: 28,419
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 28,419
• Household income: $69,503
• Rent vs Own: 35.2% rent · 64.8% own
• Severe rent burden: 786.0

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 (79%)
• Race & ethnicity: White 79% Black 7% Asian 7% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 11% Lithuanian 3% Slovak 2%
• Foreign-born: 14% · China, Canada, South Korea
• Languages at home: 84% English-only · Chinese 3% Other Indo-European 3% Arabic 2%

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: ▼ -275.69%
• Current HPI: 243.4861
• Rent YoY: ▲ 2.81%
• 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

+56.7% since first listed

2 events — show timeline

• 2026-06-18 Coming Soon $210,000 MiRealSource-MiMLS
• 2001-05-17 Sold (Public Records) $134,000 Public Records

Property tax history

+9.8%/yr

Latest (2025): $5,982 · +120.0% YoY. Source: county tax records.