27474 Norma Dr · Warren, MI 48093

$224,900

3 bd · 1.5 ba · 1,354 sqft · SingleFamily public records · 1 Days on market

Built 1963 6,970 sqft lot Est $242k · 7% under

---

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 +10.7/15.0
• Cash flow +10.0/30.0
• Livability +3.7/5.0
• Rent growth +3.1/5.0
• 1% rule +2.8/10.0
• DSCR +2.8/10.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

53 years of living well in this home is ready to be turned over to a new owner! 2018 had a tear off roof, central air conditioning and a high efficiency furnace installed to keep the place in good shape while you remake the interior. There is a rare private bath in one bedroom; a family room addition opening to a covered patio; copper plumbing; vinyl windows; glass block windows; spacious kitchen with a dining area open to the family room; lav at the side door; basement rec room. .. a place to settle in and make your own!

Key facts

• 6,970 sq ft lot
• 2 garage spots
• Built 1963

Property features AI

Finance

• HOA & community: Homeowners association

Exterior

• Parking: Detached 2-car garage with garage door opener
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level
• Construction: Brick construction; Concrete basement
• Exterior features: Patio; Fenced yard

Interior

• Kitchen: Oven; Range; Refrigerator
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Eat-in kitchen; Family room fireplace; Therapeutic whirlpool
• Laundry & utility: Washer; Dryer; Gas water heater; Humidifier

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $-137 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $201k (10.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $176k (21.5% below list).
• Recommended offer: $176k (21.5% below list) — sets the bar for 1% rule.

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.
• Warren Woods Public Schools (urban): math 23% / reading 40% proficiency, ranked #336 of 540 in MI (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.5%/yr); 122 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,321 units permitted in Macomb County in 2024 (86 in 5+ unit buildings).
• This rent runs 31% of the median local income ($68k/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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• Only 1 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.

Recommended offer $176,498 (21.5% 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 1963 — 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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.78% ✗
• Cap rate: 5.56%
• Cash-on-cash: -2.61%
• DSCR: 0.88
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $242,366
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
27548 Bonnie Dr	0.14mi	3/1.5	1,318 (-3%)	1mo	$288,500	$219	88
11820 Mckinley Dr	0.40mi	3/2.0	1,303 (-4%)	6mo	$220,000	$169	68
28540 Roan Dr	0.62mi	3/1.0	1,380 (+2%)	3mo	$220,000	$159	64
13262 Carol Ave	0.65mi	3/1.5	1,424 (+5%)	1mo	$262,900	$185	60
27125 Gilbert Dr	0.45mi	3/2.0	1,250 (-8%)	6mo	$224,000	$179	59
27264 Gilbert Dr Dr	0.40mi	3/2.0	1,463 (+8%)	10mo	$256,000	$175	58
11311 Irvington Dr	0.58mi	4/2.0 (+1)	1,408 (+4%)	4mo	$253,000	$180	56
13342 De Mott Dr	0.70mi	3/1.5	1,421 (+5%)	6mo	$255,000	$179	54
11234 Irvington St	0.59mi	3/2.0	1,230 (-9%)	4mo	$266,000	$216	52
11095 Martin Rd	0.69mi	3/1.5	1,211 (-11%)	1mo	$293,400	$242	49
27177 Shelbourne Dr	0.59mi	3/1.5	1,537 (+14%)	2mo	$250,000	$163	48
11138 Jim Pl	0.74mi	3/1.0	1,480 (+9%)	10mo	$211,000	$143	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 · 2.52% rent growth · sell at horizon

5-year hold

• IRR: -21.2%
• Equity multiple: 0.27×
• Total profit: $-46,001
• Equity at exit: $33,533

10-year hold

• IRR: -15.8%
• Equity multiple: 0.13×
• Total profit: $-54,684
• Equity at exit: $19,445

Cash invested: $62,972 (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 48093

• Rents YoY: 2.5%
• Active inventory: 122
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,765 high
• Mortgage (P&I): −$1,179
• Tax from tax record: −$258 /mo · $3,098/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $-137

Break-even live

Break-even rent $1,938

Max offer price $200,710

Occupancy floor —

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11809 McKinley Dr Warren, MI	3.0	1.5	1212	$1,800	$1.49	17d	1	0.35mi
28250 Hoover Rd Warren, MI	1.0–2.0	1.0–2.0	912	$1,705	$1.87	2d	17	0.54mi
13250 De Mott Dr Warren, MI	3.0	1.5	1386	$1,900	$1.37	43d	1	0.66mi
28801 Imperial Dr Warren, MI	1.0–2.0	1.0	887	$1,205	$1.36	16d	6	0.77mi
8625 Dale Center Line, MI	3.0	1.5	1179	$1,796	$1.52	43d	1	1.03mi
25146 Wagner Ave Warren, MI	3.0	1.0	906	$1,900	$2.10	24d	1	1.06mi
11404 Warren Blvd Unit 102 Warren, MI	2.0	1.0	900	$1,250	$1.39	24d	1	1.11mi
11116 Racine Rd Warren, MI	3.0	1.5	1433	$2,000	$1.40	1d	1	1.26mi
29250 Longview Ave Apt 14 Warren, MI	2.0	1.0	950	$1,000	$1.05	43d	1	1.33mi
8429 Towne Center Cir S #52 Warren, MI	2.0	2.0	1240	$1,775	$1.43	24d	1	1.38mi
8459 Towne Center Cir N #96 Warren, MI	2.0	2.5	1646	$2,000	$1.22	1d	1	1.43mi
8457 Towne Center Cir Unit 90 Warren, MI	2.0	2.0	1319	$1,800	$1.36	43d	1	1.43mi
29400 Towne Center Cir Warren, MI	1.0–3.0	1.0–2.0	1114	$2,099	$1.88	1d	1	1.45mi

Listing history 4 events

1. 2026-05-21
   status Pending

   Show marketing remark (528 chars)

   53 years of living well in this home is ready to be turned over to a new owner! 2018 had a tear off roof, central air conditioning and a high efficiency furnace installed to keep the place in good shape while you remake the interior. There is a rare private bath in one bedroom; a family room addition opening to a covered patio; copper plumbing; vinyl windows; glass block windows; spacious kitchen with a dining area open to the family room; lav at the side door; basement rec room. .. a place to settle in and make your own!

2. 2026-05-21
   status Pending 528-char remark

   Show marketing remark (528 chars)

   53 years of living well in this home is ready to be turned over to a new owner! 2018 had a tear off roof, central air conditioning and a high efficiency furnace installed to keep the place in good shape while you remake the interior. There is a rare private bath in one bedroom; a family room addition opening to a covered patio; copper plumbing; vinyl windows; glass block windows; spacious kitchen with a dining area open to the family room; lav at the side door; basement rec room. .. a place to settle in and make your own!

3. 2026-05-21
   listed $224,900 Active

   Show marketing remark (528 chars)

   53 years of living well in this home is ready to be turned over to a new owner! 2018 had a tear off roof, central air conditioning and a high efficiency furnace installed to keep the place in good shape while you remake the interior. There is a rare private bath in one bedroom; a family room addition opening to a covered patio; copper plumbing; vinyl windows; glass block windows; spacious kitchen with a dining area open to the family room; lav at the side door; basement rec room. .. a place to settle in and make your own!

4. 2026-05-21
   listed $224,900 Active 528-char remark

   Show marketing remark (528 chars)

   53 years of living well in this home is ready to be turned over to a new owner! 2018 had a tear off roof, central air conditioning and a high efficiency furnace installed to keep the place in good shape while you remake the interior. There is a rare private bath in one bedroom; a family room addition opening to a covered patio; copper plumbing; vinyl windows; glass block windows; spacious kitchen with a dining area open to the family room; lav at the side door; basement rec room. .. a place to settle in and make 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: $3,098 · $258/mo
• Projected year-2 tax: $3,281 · $273/mo
• Expected delta: +$183/yr (+$15/mo · 5.9%)

ⓘ 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: $21,180
• − Mortgage interest: −$12,598
• − Property taxes: −$3,098
• − Insurance: −$1,124
• − Repairs & maintenance: −$1,694
• − Management: −$1,694
• − Depreciation: −$6,543
• Taxable loss: −$5,572
• Est. tax savings @ 24.0%: +$1,337
• After-tax cash flow: $-306/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: Warren Woods Public Schools
• NCES district ID: 2635220
• Math proficiency: 23% ▼ -9.00%
• Reading proficiency: 40% ▼ -5.00%
• Median HH income: $49,013
• Composite: 27.29/100
• National rank: #7003
• State rank: #336 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): 25,014
• Household income: $68,218
• Rent vs Own: 25.5% rent · 74.5% own
• Severe rent burden: 632.0

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: Predominantly White (66%)
• Race & ethnicity: White 66% Black 18% Asian 9% Two or more races 6% Hispanic / Latino 1%
• Common ancestry: Romanian 14% Lithuanian 3% Arab 2%
• Foreign-born: 15% · Vietnam, Canada, China
• Languages at home: 80% English-only · Other Indo-European 5% Arabic 4% Russian/Polish/Slavic 4%

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: ▼ -223.26%
• Current HPI: 203.6554
• Rent YoY: ▲ 2.52%
• 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

4 events — show timeline

• 2026-05-21 Pending — REALCOMP
• 2026-05-21 Pending — MiRealSource-MiMLS
• 2026-05-21 Listed $224,900 MiRealSource-MiMLS
• 2026-05-21 Listed $224,900 REALCOMP

Property tax history

+2.6%/yr

Latest (2025): $3,098 · +2.5% YoY. Source: county tax records.