23284 Almira St · Southfield, MI 48033

$140,000

3 bd · 1.0 ba · 1,194 sqft · SingleFamily public records · 14 Days on market

Built 1938 1.43 ac lot Est $184k · 24% under

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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 +25.5/30.0
• ARV discount +15.0/15.0
• DSCR +8.4/10.0
• 1% rule +6.6/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

CALLING ALL INVESTORS!! THIS IS IT. .. LOOK NO FURTHER AN EXCEPTIONAL INVESTMENT PROPERTY SITS ON 0.47 ACRES OF LAND A 3 BEDROOM 1 FULL BATH RANCH WITH DETACHED LARGE GARAGE. SCHEDULE YOUR PRIVATE SHOWING TODAY! THIS PROPERTY WON'T LAST LONG! HOME IS BEING SOLD AS-IS. BATVAI.

Key facts

• 1.43 acre lot
• 2 garage spots
• Built 1938

Property features AI

Finance

• Other: Located in Southfield (City); east side of the street; directions: N of 9 Mile Rd, W of Telegraph Rd, E of Beech St.

Exterior

• Parking: Detached 2-car garage
• Utilities: Natural gas heat; Public water; Public sewer (assumed from public water listing and typical municipal services)
• Home design: Residential single-story home; Built in 1938; Entry-level living
• Construction: Vinyl-sided construction; Crawl foundation
• Exterior features: Vinyl siding; Paved street access; Frontage approximately 30 ft; Approximately 1.43 acres

Interior

• Bedrooms: Three bedrooms on the entry level (approximate dimensions: two at 9 x 10; one about 10 ft wide)
• Flooring: Bedroom and bathroom floor coverings listed as Other
• Bathrooms: One full bathroom on the entry level (approx. 7 x 8)
• Heating & cooling: Forced air heating; Central A/C
• Interior features: Total of 4 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $327 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Cap rate 9.1% vs local median 4.4% in Southfield — 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 72/100 on livability (#248 in MI) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D, health & safety D, crime F.
• Southfield Public School District (urban): math 17% / reading 37% proficiency, ranked #392 of 540 in MI (top 73%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents soft (-2.0%/yr); 80 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).
• This rent runs 32% of the median local income ($61k/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 $968 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.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y ago; this cycle's ask is 77% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $66k; list at $140k implies a 112% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,000

Questions for the listing agent

1. Built in 1938 — 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. Crime grade is F 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?
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: 1.16% ✓
• Cap rate: 9.09%
• Cash-on-cash: 10.00%
• DSCR: 1.44
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $183,876
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23318 Churches St	0.21mi	2/1.0 (-1)	1,200 (+0%)	6mo	$142,000	$118	79
24220 Sunnypoint Dr	0.51mi	3/1.5	1,167 (-2%)	4mo	$180,000	$154	67
23128 Almira St	0.07mi	3/2.0	1,320 (+11%)	18mo	$190,000	$144	60
23409 Bush St	0.45mi	3/1.0	1,249 (+5%)	17mo	$195,000	$156	57
24951 W 9 Mile Rd	0.22mi	3/1.0	1,032 (-14%)	16mo	$244,000	$236	54
24291 Sargent Ave	0.33mi	2/2.0 (-1)	1,363 (+14%)	16mo	$210,000	$154	39
23440 Beech Rd	0.63mi	3/1.0	1,287 (+8%)	23mo	$220,000	$171	38

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -4.7%
• Equity multiple: 0.83×
• Total profit: $-6,618
• Equity at exit: $20,874

10-year hold

• IRR: 1.1%
• Equity multiple: 1.07×
• Total profit: $2,734
• Equity at exit: $12,105

Cash invested: $39,200 (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 48033

• Rents YoY: -2.0%
• Active inventory: 80
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,620 high
• Mortgage (P&I): −$734
• Tax from tax record: −$161 /mo · $1,931/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $327

Break-even live

Break-even rent $1,207

Max offer price $140,000

Occupancy floor 75%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22419 Fairway Dr Southfield, MI	3.0	1.0	1262	$1,850	$1.47	24d	1	0.85mi
23741 Pond Rd Southfield, MI	1.0–2.0	1.0–2.0	1189	$1,786	$1.50	1d	13	0.90mi
25400 Basin St Southfield, MI	1.0–2.0	1.0	825	$1,400	$1.70	5d	11	0.99mi
25740 Shiawassee St Southfield, MI	1.0–2.0	1.0	850	$1,253	$1.47	43d	10	1.05mi
23404 Plum Hollow St Southfield, MI	3.0	1.5	1050	$2,000	$1.90	24d	1	1.19mi
23411 W Eight Mile Rd Detroit, MI	1.0–2.0	1.0	742	$1,000	$1.35	43d	1	1.32mi
20410 Five Points St Redford, MI	3.0	1.0	950	$1,600	$1.68	5d	1	1.33mi
24111 Civic Center Dr Southfield, MI	1.0–2.0	1.0–2.0	810	$1,350	$1.67	43d	27	1.35mi
20083 Salem St Detroit, MI	3.0	1.0	969	$1,050	$1.08	5d	1	1.38mi
20083 Salem St Detroit, MI	3.0	1.0	969	$1,050	$1.08	10d	1	1.38mi
21642 Hidden Rivers Dr S #27 Southfield, MI	3.0	2.5	1354	$2,100	$1.55	43d	1	1.46mi

Listing history 12 events

1. 2026-06-18
   days on market $140,000 Active 14 DOM
2. 2026-06-17
   days on market $140,000 Active 13 DOM
3. 2026-06-16
   days on market $140,000 Active 12 DOM
4. 2026-06-15
   days on market $140,000 Active 11 DOM
5. 2026-06-13
   days on market $140,000 Active 9 DOM
6. 2026-06-13
   days on market $140,000 Active 8 DOM
7. 2026-06-09
   days on market $140,000 Active 5 DOM
8. 2026-06-08
   days on market $140,000 Active 4 DOM
9. 2026-06-07
   statusdays on marketlisting id $140,000 Active 3 DOM
10. 2026-06-04
    days on market $140,000 Coming Soon 2 DOM
11. 2026-06-03
    remarks 699-char remark
12. 2026-06-03
    listed $140,000 Coming Soon 1 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: $1,931 · $161/mo
• Projected year-2 tax: $2,044 · $170/mo
• Expected delta: +$112/yr (+$9/mo · 5.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $19,444
• − Mortgage interest: −$7,842
• − Property taxes: −$1,931
• − Insurance: −$700
• − Repairs & maintenance: −$1,555
• − Management: −$1,555
• − Depreciation: −$4,073
• Taxable income: $1,786
• Est. tax owed @ 24.0%: −$429
• After-tax cash flow: $3,490/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: Southfield Public School District
• NCES district ID: 2632310
• Math proficiency: 17% ▼ -3.00%
• Reading proficiency: 37% ▲ 1.00%
• Median HH income: $51,400
• Composite: 23.77/100
• National rank: #7814
• State rank: #392 of 540 in MI

Livability — Southfield

• Score: 72/100
• State rank: #248
• US rank: #6175

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Southfield, MI
• County: Oakland County · 1,009,092 people
• City population: 54,914
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 17,277
• Household income: $61,016
• Rent vs Own: 48.1% rent · 51.9% own
• Severe rent burden: 1166.0

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 Black (68%)
• Race & ethnicity: Black 68% White 24% Two or more races 6% Asian 2% Hispanic / Latino 1%
• Common ancestry: Romanian 3% Scotch-Irish 1% Slovak 1%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Spanish 1% Arabic 1% Russian/Polish/Slavic 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: ▼ -175.44%
• Current HPI: 187.5011
• Rent YoY: ▼ -1.96%
• 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

+77.2% since first listed

8 events — show timeline

• 2026-06-03 Coming Soon $140,000 MiRealSource-MiMLS
• 2023-10-05 Sold (Public Records) $66,000 Public Records
• 2023-09-22 Sold (MLS) $66,000 MiRealSource-MiMLS
• 2023-09-22 Sold (MLS) $66,000 REALCOMP
• 2023-09-20 Pending — REALCOMP
• 2023-09-20 Pending — MiRealSource-MiMLS
• 2023-08-25 Listed $79,000 MiRealSource-MiMLS
• 2023-08-25 Listed $79,000 REALCOMP

Property tax history

+1.5%/yr

Latest (2023): $1,931 · +5.6% YoY. Source: county tax records.