8412 Stephens Rd · Warren, MI 48089

$89,000

3 bd · 1.0 ba · 944 sqft · SingleFamily public records · 10 Days on market

Built 1963 4,792 sqft lot Est $131k · 32% under

---

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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 8412 Stephens, Warren - an exceptional opportunity for savvy investors, flippers, or first-time homebuyers looking to create value and make a home their own. This 3-bedroom, 1-bath ranch offers a functional open layout with a spacious living room and durable ceramic tile flooring throughout the main level. The generously sized breakfast nook flows seamlessly into the kitchen, creating an inviting space ready for your personal updates and vision. Three main-floor bedrooms and an updated full bathroom provide a solid foundation, while the oversized laundry room with direct backyard access adds everyday convenience. Outside, you'll find a fully fenced yard and a 2-car detached garage, offering ample parking, storage, or workshop potential. Easy access to I-696, shopping, restaurants, and entertainment, this property presents an excellent opportunity to renovate, rent, or occupy while building instant sweat equity. Whether you're expanding your investment portfolio or searching for an affordable home with upside potential, this is a chance you won't want to miss. All measurements are approximate. Buyer and buyer's agent to verify all information. A licensed agent must be present for all showing appointments. Home is being sold "as is". Property Taxes are Non-Homestead.

Key facts

• Breakfast nook
• Open layout
• Fully fenced yard

Tags

• OPEN LAYOUT
• CERAMIC TILE FLOORING
• BREAKFAST NOOK
• OVERSIZED LAUNDRY ROOM
• DIRECT BACKYARD ACCESS
• FULLY FENCED YARD

Property features AI

Finance

• HOA & community: Sidewalks in the community

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer; Cable available
• Home design: Single family residence; One story; Ground-level entry with steps; Aluminum siding
• Construction: Built with aluminum siding; Slab foundation; Asphalt roof
• Exterior features: Fenced backyard; Paved road frontage

Interior

• Kitchen: Free-standing gas range; Free-standing refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating (electric); Ceiling fan(s); Has heating
• Interior features: Awning(s); Covered patio/porch, deck and porch; Laundry room; Seven total rooms
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $410 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Cap rate 11.8% vs local median 5.2% in Warren — 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 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: amenities D, employment D, crime D-.
• Van Dyke Public Schools (urban): math 7% / reading 19% proficiency, ranked #512 of 540 in MI (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Marjorie Carlson Elementary School (math 8% / reading 17%, grade F, #1,203 of 1,397 statewide, top 87%, 349 students, 92% FRL); Lincoln Middle School (math 7% / reading 22%, grade F, #460 of 493 statewide, top 93%, 401 students, 96% FRL); Lincoln High School (math 2% / reading 17%, grade F, #692 of 713 statewide, top 98%, 440 students, 91% FRL).
• Market conditions: Rents rising (+2.9%/yr); 168 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 ($52k/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 $615 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 2.9% rent growth), your $25k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 14y 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 $21k; list at $89k implies a 324% gain — meaningful room to come down on a strong offer.

Recommended offer $89,000

Questions for the listing agent

1. Built in 1963 — 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 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?
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: 1.53% ✓
• Cap rate: 11.82%
• Cash-on-cash: 19.74%
• DSCR: 1.88
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $131,216
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8292 Superior St	0.12mi	3/1.0	921 (-2%)	0mo	$165,000	$179	90
11108 Essex Ave	0.40mi	3/1.0	946 (+0%)	0mo	$114,900	$121	80
8659 Essex Ave	0.23mi	3/1.0	1,034 (+10%)	2mo	$150,000	$145	72
8420 Republic Ave	0.33mi	3/1.0	1,015 (+8%)	2mo	$150,000	$148	70
8620 Stephens Rd	0.14mi	2/1.0 (-1)	840 (-11%)	1mo	$107,000	$127	69
8654 Continental Ave	0.42mi	3/1.0	1,008 (+7%)	1mo	$103,000	$102	68
6871 Lozier Ave	0.67mi	3/1.0	930 (-2%)	2mo	$100,000	$108	65
24894 Marigold Ave	0.56mi	3/1.0	888 (-6%)	2mo	$105,000	$118	62
11004 Republic Ave	0.43mi	2/1.0 (-1)	868 (-8%)	2mo	$94,000	$108	60
24344 Rosemarie Ave	0.40mi	3/1.0	1,064 (+13%)	2mo	$148,000	$139	59
25063 Campbell Ave	0.71mi	3/1.0	1,033 (+9%)	0mo	$150,000	$145	51
11276 Ocalla Dr	0.47mi	2/1.0 (-1)	1,064 (+13%)	2mo	$163,000	$153	50

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 · 2.94% rent growth · sell at horizon

5-year hold

• IRR: 11.8%
• Equity multiple: 1.47×
• Total profit: $11,662
• Equity at exit: $13,270

10-year hold

• IRR: 20.7%
• Equity multiple: 2.75×
• Total profit: $43,656
• Equity at exit: $7,695

Cash invested: $24,920 (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 48089

• Rents YoY: 2.9%
• Active inventory: 168
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,362 high
• Mortgage (P&I): −$467
• Tax from tax record: −$162 /mo · $1,948/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $410

Break-even live

Break-even rent $843

Max offer price $89,000

Occupancy floor 65%

Sensitivity live

Price	-10% $460	-5% $435	+0% $410	+5% $385	+10% $360
Rent	-10% $302	-5% $356	+0% $410	+5% $464	+10% $518
Rate	-1.0pp $455	-0.5pp $433	base $410	+0.5pp $387	+1.0pp $363

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8428 Timken Ave Warren, MI	3.0	1.0	860	$1,250	$1.45	26d	1	0.21mi
8212 Timken Ave Warren, MI	2.0	1.0	756	$1,320	$1.75	26d	1	0.25mi
8125 Timken Ave Warren, MI	3.0	1.0	948	$1,270	$1.34	7d	1	0.26mi
8716 Timken Ave Warren, MI	3.0	1.0	1008	$1,400	$1.39	26d	1	0.32mi
8636 Republic Ave Warren, MI	2.0	1.0	800	$1,250	$1.56	16d	1	0.35mi
11076 Essex Ave Warren, MI	4.0	1.0	1072	$1,400	$1.31	45d	1	0.37mi
11130 Stephens Rd Warren, MI	2.0	1.0	750	$1,275	$1.70	1d	1	0.38mi
8509 Paige Ave Warren, MI	3.0	1.0	950	$1,300	$1.37	26d	1	0.41mi
8707 Continental Ave Warren, MI	3.0	1.0	968	$1,200	$1.24	19d	1	0.41mi
8707 Continental Ave Warren, MI	3.0	1.0	1100	$1,200	$1.09	7d	1	0.41mi
8693 Paige Ave Warren, MI	3.0	1.0	900	$1,300	$1.44	26d	1	0.45mi
11331 Continental Ave Warren, MI	2.0	1.0	765	$1,250	$1.63	26d	1	0.61mi
6847 Continental Ave Warren, MI	4.0	1.0	1000	$1,595	$1.59	1d	1	0.72mi
8036 Hupp Ave Warren, MI	2.0	1.0	680	$1,150	$1.69	45d	1	0.78mi
11359 Maxwell Ave Unit 11359 Warren, MI	2.0	1.0	900	$1,000	$1.11	5d	1	0.78mi
25005 Lawrence Ave Center Line, MI	1.0–2.0	1.0–1.5	1000	$955	$0.95	45d	1	0.80mi
8251 Hudson Ave Warren, MI	3.0	1.0	908	$1,400	$1.54	26d	1	0.82mi
8632 Studebaker Ave Warren, MI	3.0	1.0	761	$1,300	$1.71	5d	1	0.90mi
11076 Hudson Ave Warren, MI	3.0	1.0	936	$1,395	$1.49	5d	1	0.90mi
11404 Warren Blvd Unit 102 Warren, MI	2.0	1.0	900	$1,250	$1.39	26d	1	0.92mi
8640 Chalmers Ave Warren, MI	3.0	1.0	804	$1,423	$1.77	26d	1	0.95mi
11236 Studebaker Ave Warren, MI	2.0	1.0	672	$1,175	$1.75	45d	1	0.98mi
25108 Hoover Rd Warren, MI	1.0–2.0	1.0	702	$1,324	$1.88	1d	61	0.99mi
7275 Chalmers Ave Warren, MI	2.0	1.0	703	$1,200	$1.71	26d	1	1.02mi
11319 Chalmers Ave Warren, MI	3.0	1.0	975	$1,500	$1.54	26d	1	1.04mi
8162 Orchard Ave Warren, MI	2.0	1.0	900	$1,000	$1.11	45d	1	1.05mi
7511 Toepfer Rd Warren, MI	3.0	1.0	1032	$1,199	$1.16	23d	1	1.05mi
8065 Meadow Ave Warren, MI	2.0	1.0	800	$1,050	$1.31	26d	1	1.10mi
7043 Meadow Ave Warren, MI	2.0	1.0	911	$1,274	$1.40	45d	1	1.20mi
25146 Wagner Ave Warren, MI	3.0	1.0	906	$1,900	$2.10	26d	1	1.25mi
7060 Victory Ave Warren, MI	3.0	1.0	945	$1,450	$1.53	13d	1	1.28mi
7033 Westminster Ave Warren, MI	2.0	1.0	561	$1,050	$1.87	45d	1	1.32mi
11228 Sherman Ave Warren, MI	2.0	1.0	1000	$1,200	$1.20	14d	1	1.33mi
8242 Jackson Ave Warren, MI	3.0	1.0	840	$1,198	$1.43	45d	1	1.39mi
7605 Jackson Ave Warren, MI	2.0	1.0	600	$1,165	$1.94	26d	1	1.39mi
8285 Rivard Ave Warren, MI	3.0	1.0	902	$1,549	$1.72	26d	1	1.41mi

Listing history 8 events

1. 2026-06-21
   days on market $89,000 Active 10 DOM
2. 2026-06-18
   days on market $89,000 Active 7 DOM
3. 2026-06-17
   days on market $89,000 Active 6 DOM
4. 2026-06-16
   days on market $89,000 Active 5 DOM
5. 2026-06-15
   days on market $89,000 Active 4 DOM
6. 2026-06-13
   days on market $89,000 Active 2 DOM
7. 2026-06-13
   remarks 693-char remark
8. 2026-06-13
   listed $89,000 Active 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: $1,948 · $162/mo
• Projected year-2 tax: $1,948 · $162/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 · 14 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: $16,347
• − Mortgage interest: −$4,985
• − Property taxes: −$1,948
• − Insurance: −$445
• − Repairs & maintenance: −$1,308
• − Management: −$1,308
• − Depreciation: −$2,589
• Taxable income: $3,764
• Est. tax owed @ 24.0%: −$903
• After-tax cash flow: $4,017/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: Van Dyke Public Schools
• NCES district ID: 2634680
• Math proficiency: 7% ▼ -11.00%
• Reading proficiency: 19% ▼ -5.00%
• Median HH income: $33,231
• Composite: 10.46/100
• National rank: #9784
• State rank: #512 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): 31,853
• Household income: $52,366
• Rent vs Own: 43.4% rent · 56.6% own
• Severe rent burden: 1754.0

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 53% Black 31% Asian 7% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Romanian 11% Lithuanian 3% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Other Asian/Pacific 3% Other Indo-European 2% Arabic 1%

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: ▼ -211.46%
• Current HPI: 154.8325
• Rent YoY: ▲ 2.94%
• 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

+256.0% since first listed

8 events — show timeline

• 2026-06-11 Listed $89,000 MiRealSource-MiMLS
• 2026-06-11 Listed $89,000 REALCOMP
• 2013-01-07 Sold (MLS) $21,000 MiRealSource-MiMLS
• 2013-01-07 Sold (MLS) $21,000 REALCOMP
• 2012-12-24 Listing Removed — MiRealSource-MiMLS
• 2012-12-24 Listing Removed — REALCOMP
• 2012-10-26 Listed $25,000 MiRealSource-MiMLS
• 2012-10-26 Listed $25,000 REALCOMP

Property tax history

-0.1%/yr

Latest (2025): $1,948 · +2.6% YoY. Source: county tax records.