2715 Inman St · Ferndale, MI 48220

$220,000

2 bd · 1.0 ba · 1,050 sqft · SingleFamily public records · 8 Days on market

Built 1925 6,098 sqft lot Est $265k · 17% under

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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 +15.0/15.0
• Cash flow +12.9/30.0
• Livability +4.5/5.0
• 1% rule +4.2/10.0
• Rent growth +4.1/5.0
• DSCR +3.8/10.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don't miss out on this charming 2 bedroom Ranch, located within walking distance to downtown Ferndale! This open concept home features updated kitchen with granite counters, tile backsplash, all appliances included and hardwood floors throughout. Living room is open to kitchen with breakfast bar, large master bedroom, BRAND NEW AC unit, private fenced yard, 1 car detached garage! Washer & dryer are included. Sellers are offering one year home warranty!

Key facts

• 6,098 sq ft lot
• 2 garage spots
• Built 1925

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Electric service (standard); Natural gas
• Home design: Residential property; One-story layout; Built in 1925
• Construction: Vinyl siding construction; Crawlspace foundation
• Exterior features: Vinyl siding; Paved street access; Frontage approximately 30 feet

Interior

• Kitchen: Entry-level kitchen (15 x 8); Dining room adjacent to kitchen (13 x 12)
• Bedrooms: Two entry-level bedrooms (18 x 12; 12 x 10)
• Bathrooms: One full bathroom (entry level, approx. 8 x 8)
• Heating & cooling: Forced air heating; Central A/C; Gas water heater; Natural gas heat/fuel
• Interior features: Six total rooms; Living room (22 x 12)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-18 ($-212/yr) — negative.
• To cash-flow at today's rent, offer at most $217k (1.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $202k (8.1% below list).
• Recommended offer: $202k (8.1% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $2k of loan paydown is wiped out by about $7k 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 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 24 sale attempts since 22y ago; this cycle's ask is 52% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $140k; list at $220k implies a 57% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $202,147 (8.1% 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 1925 — 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. 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?
6. 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.
7. 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.
8. 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: 0.92% ✗
• Cap rate: 6.20%
• Cash-on-cash: -0.34%
• DSCR: 0.98
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $264,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2723 Wolcott St	0.09mi	2/1.0	1,098 (+5%)	0mo	$252,000	$230	88
560 E Oakridge St	0.17mi	3/1.0 (+1)	1,084 (+3%)	2mo	$275,000	$254	81
2840 Horton St	0.09mi	3/1.0 (+1)	948 (-10%)	2mo	$220,000	$232	73
416 E Breckenridge St	0.46mi	2/1.0	1,101 (+5%)	0mo	$295,000	$268	70
68 Kensington Blvd	0.58mi	2/1.0	1,014 (-3%)	0mo	$199,900	$197	67
73 Amherst Rd	0.39mi	3/2.0 (+1)	1,100 (+5%)	0mo	$463,000	$421	64
36 Kensington Blvd	0.67mi	2/1.0	1,020 (-3%)	1mo	$315,000	$309	64
2000 Moorhouse St	0.61mi	2/1.0	998 (-5%)	1mo	$132,500	$133	63
3221 Harris St	0.51mi	3/1.0 (+1)	1,128 (+7%)	0mo	$269,900	$239	59
1327 Mohawk Ave	0.67mi	2/1.0	1,133 (+8%)	1mo	$285,000	$252	55
1220 Orchard St	0.50mi	3/1.0 (+1)	928 (-12%)	0mo	$269,900	$291	52
2140 Mahan St	0.72mi	2/2.0	1,176 (+12%)	2mo	$265,000	$225	41

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: -13.0%
• Equity multiple: 0.51×
• Total profit: $-29,885
• Equity at exit: $32,803

10-year hold

• IRR: 0.5%
• Equity multiple: 1.04×
• Total profit: $2,727
• Equity at exit: $19,022

Cash invested: $61,600 (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: 9.1×

Monthly cashflow live

• Estimated rent: $2,021 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$369 /mo · $4,432/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$425
• Net cashflow: $-18

Break-even live

Break-even rent $2,044

Max offer price $216,873

Occupancy floor 96%

Sensitivity live

Price	-10% $107	-5% $45	+0% $-18	+5% $-80	+10% $-142
Rent	-10% $-177	-5% $-98	+0% $-18	+5% $62	+10% $142
Rate	-1.0pp $93	-0.5pp $38	base $-18	+0.5pp $-75	+1.0pp $-133

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2705 Inman St Ferndale, MI	3.0	2.5	1429	$3,195	$2.24	0d	1	0.02mi
2803 Grayson St Ferndale, MI	3.0	2.0	1274	$2,000	$1.57	44d	1	0.17mi
1201 Woodward Hts Ferndale, MI	2.0	2.0	1200	$2,045	$1.70	25d	1	0.21mi
455 E Cambourne St Unit 2 Ferndale, MI	2.0	1.0	900	$2,400	$2.67	3d	1	0.37mi
453 E Cambourne St Unit 1 Ferndale, MI	2.0	1.0	1000	$2,500	$2.50	3d	1	0.37mi
400 E Cambourne St Unit 1 Ferndale, MI	2.0	1.0	1000	$1,400	$1.40	11d	1	0.41mi
501 E Breckenridge St Ferndale, MI	3.0	1.0	946	$1,800	$1.90	25d	1	0.43mi
150 E Woodland St Unit 1 Ferndale, MI	1.0	1.0	700	$1,600	$2.29	44d	1	0.46mi
150 E Woodland St Unit 2 Ferndale, MI	1.0	1.0	700	$1,500	$2.14	44d	1	0.46mi
1800 Browning St Ferndale, MI	2.0	1.0	809	$1,600	$1.98	5d	1	0.49mi
1414 Owana Ave Royal Oak, MI	3.0	1.0	1489	$1,675	$1.12	22d	1	0.62mi
226 Withington St Apt 10 Ferndale, MI	1.0	1.0	800	$1,325	$1.66	18d	1	0.64mi
2186 Garfield St Ferndale, MI	3.0	1.0	1300	$1,750	$1.35	25d	1	0.66mi
1816 Guthrie Ave Royal Oak, MI	3.0	1.0	1100	$1,800	$1.64	5d	1	0.66mi
2181 Coy St Ferndale, MI	3.0	1.0	1050	$1,995	$1.90	11d	1	0.68mi
552 E Saratoga St Unit Upper Unit Ferndale, MI	2.0	1.0	700	$1,300	$1.86	25d	1	0.69mi
1572 Maryland Club Dr Royal Oak, MI	2.0	2.0	1477	$2,450	$1.66	3d	1	0.72mi
2215 Browning St Ferndale, MI	2.0	1.0	739	$1,350	$1.83	5d	1	0.73mi
430 W 9 Mile Rd Ferndale, MI	1.0–2.0	2.0	826	$2,827	$3.42	0d	2	0.79mi
415 W Nine Mile Rd Ferndale, MI	1.0	1.0	912	$2,500	$2.74	18d	1	0.80mi
413 W Nine Mile Rd Ste B Ferndale, MI	1.0	1.0	897	$1,850	$2.06	18d	1	0.80mi
2420 Woodward Hts Ferndale, MI	3.0	1.0	1316	$2,200	$1.67	25d	1	0.86mi
1230 Diamond Ct Unit E Royal Oak, MI	2.0	2.0	1212	$2,800	$2.31	25d	1	0.88mi
916 Cherokee Ave Royal Oak, MI	2.0	1.5	944	$2,250	$2.38	3d	1	0.89mi
22111 Woodward Ave Ferndale, MI	2.0	1.0	816	$3,355	$4.11	17d	1	0.93mi
818 Etowah Ave Unit 1032341P Royal Oak, MI	2.0	1.0	893	$6,755	$7.56	14d	1	0.94mi
25090 Woodward Ave Royal Oak, MI	1.0–3.0	1.0–2.5	1146	$3,390	$2.96	0d	12	0.99mi
1820 E Troy St Ferndale, MI	3.0	1.0	1167	$1,500	$1.29	5d	1	1.03mi
739 S Alexander Ave Unit Top Level Royal Oak, MI	1.0	1.0	900	$1,200	$1.33	18d	1	1.04mi
1337 S Washington Ave Royal Oak, MI	2.0	2.0	1380	$2,350	$1.70	0d	1	1.06mi
901 Saint Louis St Ferndale, MI	2.0	1.0	800	$1,395	$1.74	44d	1	1.07mi
901 Saint Louis St Unit 901-02 Ferndale, MI	2.0	1.0	800	$1,395	$1.74	25d	1	1.07mi
900 Laprairie St Ferndale, MI	1.0	1.0	700	$1,015	$1.45	44d	1	1.09mi
690 E Marshall St Unit Lower Ferndale, MI	1.0	1.0	700	$1,295	$1.85	11d	1	1.10mi
1100 S Main St Royal Oak, MI	1.0–2.0	1.0–2.0	1179	$6,000	$5.09	0d	3	1.12mi
2023 Ardmore Dr Ferndale, MI	2.0	1.0	771	$1,250	$1.62	25d	1	1.16mi
851 Gardendale St Ferndale, MI	2.0	1.0	933	$1,625	$1.74	25d	1	1.19mi
617 S Edgeworth Ave Royal Oak, MI	2.0	1.0	955	$2,125	$2.23	25d	1	1.20mi
855 S Main St Royal Oak, MI	1.0	1.0	1003	$2,508	$2.50	0d	1	1.22mi
1220 W Nine Mile Rd Ferndale, MI	1.0	1.0	725	$995	$1.37	0d	2	1.23mi

Listing history 8 events

1. 2026-06-13
   statusdays on market $220,000 Pending 8 DOM
2. 2026-06-09
   days on market $220,000 Active 5 DOM
3. 2026-06-08
   days on market $220,000 Active 4 DOM
4. 2026-06-07
   statuslisting id $220,000 Active 3 DOM
5. 2026-06-04
   days on market $220,000 Coming Soon 3 DOM
6. 2026-06-03
   days on market $220,000 Coming Soon 2 DOM
7. 2026-06-02
   remarks 699-char remark
8. 2026-06-02
   listed $220,000 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: $4,432 · $369/mo
• Projected year-2 tax: $4,432 · $369/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 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $24,258
• − Mortgage interest: −$12,323
• − Property taxes: −$4,432
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,941
• − Management: −$1,941
• − Depreciation: −$6,400
• Taxable loss: −$3,879
• Est. tax savings @ 24.0%: +$931
• After-tax cash flow: $718/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: 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

+816.7% since first listed

62 events — show timeline

• 2026-06-01 Coming Soon $220,000 MiRealSource-MiMLS
• 2018-07-02 Sold (Public Records) $140,000 Public Records
• 2018-06-19 Sold (MLS) $140,000 REALCOMP
• 2018-06-19 Sold (MLS) $140,000 MiRealSource-MiMLS
• 2018-06-07 Pending — MiRealSource-MiMLS
• 2018-05-21 Price Changed $145,000 MiRealSource-MiMLS
• 2018-05-10 Listing Removed — MiRealSource-MiMLS
• 2018-05-10 Listing Removed — REALCOMP
• 2018-05-10 Listed $145,000 REALCOMP
• 2018-05-10 Listed $150,000 MiRealSource-MiMLS
• 2018-04-30 Relisted — MiRealSource-MiMLS
• 2018-04-26 Pending — MiRealSource-MiMLS
• 2018-04-26 Relisted — MiRealSource-MiMLS
• 2018-04-25 Pending — MiRealSource-MiMLS
• 2018-03-18 Relisted — MiRealSource-MiMLS
• 2018-03-02 Pending — MiRealSource-MiMLS
• 2018-02-18 Relisted — MiRealSource-MiMLS
• 2018-02-12 Pending — MiRealSource-MiMLS
• 2018-02-08 Listed $150,000 MiRealSource-MiMLS
• 2018-02-08 Listed $150,000 REALCOMP
• 2016-07-05 Sold (Public Records) $116,000 Public Records
• 2016-06-16 Sold (MLS) $116,000 MiRealSource-MiMLS
• 2016-06-16 Sold (MLS) $116,000 REALCOMP
• 2016-05-18 Pending — MiRealSource-MiMLS
• 2016-05-18 Pending — REALCOMP
• 2016-05-04 Listing Removed — MiRealSource-MiMLS
• 2016-04-30 Listed $124,900 MiRealSource-MiMLS
• 2016-04-30 Listed $124,900 REALCOMP
• 2014-02-07 Sold (Public Records) $98,000 Public Records
• 2013-12-31 Sold (MLS) $98,000 REALCOMP
• 2013-12-31 Sold (MLS) $98,000 MiRealSource-MiMLS
• 2013-11-06 Listing Removed — MiRealSource-MiMLS
• 2013-10-29 Listed $95,000 REALCOMP
• 2013-10-29 Listed $95,000 MiRealSource-MiMLS
• 2009-02-20 Listing Removed — REALCOMP
• 2009-02-20 Listing Removed — MiRealSource-MiMLS
• 2009-02-02 Listing Removed — REALCOMP
• 2009-02-02 Listed $93,000 REALCOMP
• 2008-08-25 Listed $93,000 MiRealSource-MiMLS
• 2008-08-20 Listed $98,500 REALCOMP
• 2006-12-26 Sold (MLS) $49,000 MiRealSource-MiMLS
• 2006-12-26 Sold (MLS) $49,000 REALCOMP
• 2006-11-07 Listing Removed — MiRealSource-MiMLS
• 2006-10-20 Listing Removed — REALCOMP
• 2006-10-19 Listing Removed — MiRealSource-MiMLS
• 2006-10-19 Listed $49,900 MiRealSource-MiMLS
• 2006-10-19 Listed $49,900 REALCOMP
• 2006-09-29 Listing Removed — REALCOMP
• 2006-09-29 Listing Removed — MiRealSource-MiMLS
• 2006-09-28 Listed $69,900 MiRealSource-MiMLS
• 2006-09-28 Listed $69,900 REALCOMP
• 2006-04-14 Listed $69,900 REALCOMP
• 2006-04-14 Listed $69,900 MiRealSource-MiMLS
• 2004-09-07 Listing Removed — REALCOMP
• 2004-07-06 Listed $94,500 REALCOMP
• 2004-07-05 Listing Removed — REALCOMP
• 2004-04-05 Listed $98,900 REALCOMP
• 2004-04-02 Listing Removed — REALCOMP
• 2004-02-09 Listed $109,900 REALCOMP
• 1999-12-27 Sold (Public Records) $82,400 Public Records
• 1992-12-01 Sold (Public Records) $24,000 Public Records
• 1987-12-01 Sold (Public Records) $24,000 Public Records

Property tax history

+7.7%/yr

Latest (2025): $4,432 · +1.3% YoY. Source: county tax records.