21433 Bethlawn Blvd · Ferndale, MI 48220

$140,000

3 bd · 1.0 ba · 1,196 sqft · SingleFamily public records · 140 Days on market

Built 1947 6,534 sqft lot $117/sqft · 54% below area Est $217k · 36% 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 +29.4/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.3/10.0
• Livability +4.5/5.0
• Rent growth +4.1/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful brick bungalow ready for a new owner to move in or continue as a cash flowing investment property. Featuring a newer kitchen with white shaker cabinets, stainless steel appliances, and luxury vinyl plank flooring. Modern tile update in bathroom. Well maintained with many mechanicals replaced around 2017 such as the furnace, hot water tank, and roof. Incredible location! Minutes from downtown Ferndale / Royal Oak, Ferndale High, and major freeways.

Key facts

• Brick bungalow
• Newer kitchen
• Modern tile update

Tags

• BRICK BUNGALOW
• NEWER KITCHEN
• WHITE SHAKER CABINETS
• STAINLESS STEEL APPLIANCES
• LUXURY VINYL PLANK FLOORING
• MODERN TILE UPDATE

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 $497 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.6% 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 25d 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 $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.
• At projected returns (-3.0% appreciation + 6.2% rent growth), your $39k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 140 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 9y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; list at $140k implies a 87% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 140 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.23% ✓
• Cap rate: 10.55%
• Cash-on-cash: 15.21%
• DSCR: 1.68
• GRM: 6.8

CMA / ARV

• ARV (median comp): $217,082
• List price: $140,000
• Delta: -35.51%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21395 Westview Ave	0.14mi	3/1.0	1,100 (-8%)	3mo	$125,000	$114	78
20805 Bethlawn Blvd	0.37mi	3/1.5	1,083 (-9%)	3mo	$168,500	$156	62
1349 Northway St	0.49mi	2/1.5 (-1)	1,254 (+5%)	0mo	$235,000	$187	62
8530 Saratoga St	0.45mi	3/1.0	1,088 (-9%)	4mo	$207,000	$190	61
1028 W Hazelhurst St	0.49mi	3/1.0	1,087 (-9%)	2mo	$326,400	$300	61
641 Stratford Rd	0.53mi	2/1.0 (-1)	1,100 (-8%)	0mo	$220,000	$200	56
410 Stratford Rd	0.62mi	3/1.5	1,302 (+9%)	1mo	$360,000	$276	53
1368 Northway St	0.47mi	3/1.0	1,017 (-15%)	0mo	$264,900	$260	53
1356 Albany St	0.40mi	4/1.0 (+1)	1,032 (-14%)	1mo	$205,000	$199	53
1597 W Saratoga St	0.37mi	2/2.0 (-1)	1,035 (-14%)	3mo	$235,000	$227	48
23241 Republic Ave	0.70mi	3/1.0	1,057 (-12%)	3mo	$211,150	$200	45
10311 Saratoga St	0.73mi	2/1.0 (-1)	1,029 (-14%)	0mo	$139,000	$135	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 · 6.24% rent growth · sell at horizon

5-year hold

• IRR: 9.2%
• Equity multiple: 1.38×
• Total profit: $14,728
• Equity at exit: $20,874

10-year hold

• IRR: 20.8%
• Equity multiple: 3.01×
• Total profit: $78,910
• 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 48220

• Rents YoY: 6.2%
• Active inventory: 171
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,727 high
• Mortgage (P&I): −$734
• Tax from tax record: −$75 /mo · $898/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $497

Break-even live

Break-even rent $1,098

Max offer price $140,000

Occupancy floor 66%

Sensitivity live

Price	-10% $576	-5% $536	+0% $497	+5% $457	+10% $417
Rent	-10% $360	-5% $429	+0% $497	+5% $565	+10% $633
Rate	-1.0pp $567	-0.5pp $532	base $497	+0.5pp $460	+1.0pp $424

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 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1557 Leroy St Ferndale, MI	3.0	2.0	1380	$2,523	$1.83	5d	1	0.25mi
21374 Ithaca Ave Ferndale, MI	3.0	1.0	996	$1,775	$1.78	25d	1	0.40mi
631 Shasta Pl Ferndale, MI	3.0	2.0	1317	$2,100	$1.59	44d	1	0.46mi
1491 W Nine Mile Rd Unit 9 Ferndale, MI	2.0	1.0	900	$1,350	$1.50	44d	1	0.48mi
22811 Rosewood St Oak Park, MI	3.0	1.0	1000	$1,600	$1.60	25d	1	0.53mi
578 Kensington Ave Ferndale, MI	2.0	1.0	860	$1,600	$1.86	5d	1	0.55mi
1260 W Nine Mile Rd Unit 13 Ferndale, MI	2.0	1.0	1000	$1,399	$1.40	15d	1	0.56mi
10020 Corning St Oak Park, MI	2.0	1.0	829	$1,400	$1.69	25d	1	0.60mi
695 Livernois St Unit 1 Ferndale, MI	2.0	2.0	1500	$2,750	$1.83	13d	1	0.62mi
695 Livernois St Unit 2 Ferndale, MI	2.0	1.0	950	$2,350	$2.47	5d	1	0.62mi
510 Stratford Rd Ferndale, MI	2.0	1.0	965	$1,750	$1.81	44d	1	0.62mi
10000 W Nine Mile Rd Unit 3 Oak Park, MI	2.0	1.0	900	$1,000	$1.11	44d	1	0.64mi
20458 Indiana St Detroit, MI	3.0	1.0	1049	$1,300	$1.24	18d	1	0.64mi
10050 W Nine Mile Rd Unit 18 Oak Park, MI	2.0	1.0	900	$1,000	$1.11	5d	1	0.65mi
20445 Kentucky St Detroit, MI	3.0	1.0	1046	$1,200	$1.15	25d	1	0.69mi
20515 Ilene St Detroit, MI	3.0	1.0	891	$1,450	$1.63	44d	1	0.72mi
10400 Saratoga St Oak Park, MI	2.0	1.0	829	$1,450	$1.75	5d	1	0.74mi
851 Gardendale St Ferndale, MI	2.0	1.0	933	$1,625	$1.74	25d	1	0.77mi
20185 Indiana St Detroit, MI	2.0	1.5	1096	$1,275	$1.16	44d	1	0.78mi
20460 Griggs St Detroit, MI	2.0	1.0	910	$1,100	$1.21	18d	1	0.78mi
20110 Northlawn St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	18d	1	0.81mi
20045 Greenlawn St Detroit, MI	3.0	1.0	925	$1,350	$1.46	44d	1	0.85mi
20009 Wisconsin St Detroit, MI	3.0	1.5	1051	$1,400	$1.33	18d	1	0.90mi
19986 Cherrylawn St Detroit, MI	4.0	1.5	1144	$1,700	$1.49	18d	1	0.90mi
430 W 9 Mile Rd Ferndale, MI	1.0–2.0	2.0	826	$2,827	$3.42	0d	2	0.95mi
23511 Majestic St Oak Park, MI	3.0	1.0	1100	$1,750	$1.59	25d	1	0.97mi
20429 Monte Vista St Detroit, MI	3.0	1.0	872	$1,300	$1.49	18d	1	0.98mi
20038 Santa Rosa Dr Detroit, MI	3.0	1.0	927	$1,300	$1.40	18d	1	1.02mi
20245 Manor Detroit, MI	3.0	1.0	1018	$1,400	$1.38	3d	1	1.05mi
20643 Stratford Rd Unit 1 Detroit, MI	2.0	1.5	1000	$1,250	$1.25	44d	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
12800 W 9 Mile Rd Oak Park, MI	1.0–2.0	1.0	775	$1,250	$1.61	25d	1	1.10mi
20122 Manor St Detroit, MI	3.0	1.0	1028	$1,200	$1.17	44d	1	1.11mi
20032 Monte Vista St Detroit, MI	3.0	1.0	1000	$1,294	$1.29	21d	1	1.11mi
22111 Woodward Ave Ferndale, MI	2.0	1.0	816	$3,355	$4.11	17d	1	1.16mi
20129 Stratford Rd Unit 2 Detroit, MI	2.0	1.0	1100	$1,223	$1.11	25d	1	1.21mi
19929 Monte Vista St Detroit, MI	3.0	1.0	860	$1,450	$1.69	18d	1	1.21mi
353 W Webster St Ferndale, MI	2.0	1.0	900	$1,525	$1.69	17d	1	1.27mi
22148 Dante St #211 Oak Park, MI	2.0	1.0	916	$1,475	$1.61	25d	1	1.27mi

Listing history 24 events

1. 2026-03-09
   price $140,000 461-char remark

   Show marketing remark (461 chars)

   Beautiful brick bungalow ready for a new owner to move in or continue as a cash flowing investment property. Featuring a newer kitchen with white shaker cabinets, stainless steel appliances, and luxury vinyl plank flooring. Modern tile update in bathroom. Well maintained with many mechanicals replaced around 2017 such as the furnace, hot water tank, and roof. Incredible location! Minutes from downtown Ferndale / Royal Oak, Ferndale High, and major freeways.

2. 2026-03-09
   price $140,000 461-char remark

   Show marketing remark (461 chars)

   Beautiful brick bungalow ready for a new owner to move in or continue as a cash flowing investment property. Featuring a newer kitchen with white shaker cabinets, stainless steel appliances, and luxury vinyl plank flooring. Modern tile update in bathroom. Well maintained with many mechanicals replaced around 2017 such as the furnace, hot water tank, and roof. Incredible location! Minutes from downtown Ferndale / Royal Oak, Ferndale High, and major freeways.

3. 2026-02-17
   price $145,000 461-char remark

   Show marketing remark (461 chars)

   Beautiful brick bungalow ready for a new owner to move in or continue as a cash flowing investment property. Featuring a newer kitchen with white shaker cabinets, stainless steel appliances, and luxury vinyl plank flooring. Modern tile update in bathroom. Well maintained with many mechanicals replaced around 2017 such as the furnace, hot water tank, and roof. Incredible location! Minutes from downtown Ferndale / Royal Oak, Ferndale High, and major freeways.

4. 2026-02-16
   price $145,000 461-char remark

   Show marketing remark (461 chars)

   Beautiful brick bungalow ready for a new owner to move in or continue as a cash flowing investment property. Featuring a newer kitchen with white shaker cabinets, stainless steel appliances, and luxury vinyl plank flooring. Modern tile update in bathroom. Well maintained with many mechanicals replaced around 2017 such as the furnace, hot water tank, and roof. Incredible location! Minutes from downtown Ferndale / Royal Oak, Ferndale High, and major freeways.

5. 2026-01-06
   listed $150,000 Active 461-char remark

   Show marketing remark (461 chars)

   Beautiful brick bungalow ready for a new owner to move in or continue as a cash flowing investment property. Featuring a newer kitchen with white shaker cabinets, stainless steel appliances, and luxury vinyl plank flooring. Modern tile update in bathroom. Well maintained with many mechanicals replaced around 2017 such as the furnace, hot water tank, and roof. Incredible location! Minutes from downtown Ferndale / Royal Oak, Ferndale High, and major freeways.

6. 2026-01-06
   listed $150,000 Active 461-char remark

   Show marketing remark (461 chars)

   Beautiful brick bungalow ready for a new owner to move in or continue as a cash flowing investment property. Featuring a newer kitchen with white shaker cabinets, stainless steel appliances, and luxury vinyl plank flooring. Modern tile update in bathroom. Well maintained with many mechanicals replaced around 2017 such as the furnace, hot water tank, and roof. Incredible location! Minutes from downtown Ferndale / Royal Oak, Ferndale High, and major freeways.

7. 2024-07-20
   historical $1,600
8. 2024-06-26
   listed $1,600
9. 2023-06-06
   historical
10. 2018-02-12
    soldstatus $75,000
11. 2018-02-05
    soldstatus $75,000
12. 2018-02-05
    soldstatus $75,000
13. 2017-12-27
    historical
14. 2017-12-27
    historical
15. 2017-11-28
    historical
16. 2017-11-28
    listed $79,900
17. 2017-11-28
    listed $89,900
18. 2017-11-28
    historical
19. 2017-11-28
    listed $79,900
20. 2017-11-28
    historical
21. 2017-11-28
    listed $89,900
22. 2017-11-28
    historical
23. 2017-10-05
    listed $99,900
24. 2017-10-05
    listed $99,900

ⓘ 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: $898 · $75/mo
• Projected year-2 tax: $1,527 · $127/mo
• Expected delta: +$629/yr (+$52/mo · 70.1%)

ⓘ 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 4/10 Moderate 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,720
• − Mortgage interest: −$7,842
• − Property taxes: −$898
• − Insurance: −$700
• − Repairs & maintenance: −$1,658
• − Management: −$1,658
• − Depreciation: −$4,073
• Taxable income: $3,892
• Est. tax owed @ 24.0%: −$934
• After-tax cash flow: $5,027/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

• 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

+40.1% since first listed

24 events — show timeline

• 2026-03-09 Price Changed $140,000 MiRealSource-MiMLS
• 2026-03-09 Price Changed $140,000 REALCOMP
• 2026-02-17 Price Changed $145,000 MiRealSource-MiMLS
• 2026-02-16 Price Changed $145,000 REALCOMP
• 2026-01-06 Listed $150,000 REALCOMP
• 2026-01-06 Listed $150,000 MiRealSource-MiMLS
• 2024-07-20 Rental Removed $1,600 REALCOMP
• 2024-06-26 Listed for Rent $1,600 REALCOMP
• 2023-06-06 Rental Removed — REALSOURCE
• 2018-02-12 Sold (Public Records) $75,000 Public Records
• 2018-02-05 Sold (MLS) $75,000 MiRealSource-MiMLS
• 2018-02-05 Sold (MLS) $75,000 REALCOMP
• 2017-12-27 Listing Removed — MiRealSource-MiMLS
• 2017-12-27 Listing Removed — REALCOMP
• 2017-11-28 Listing Removed — MiRealSource-MiMLS
• 2017-11-28 Listed $89,900 MiRealSource-MiMLS
• 2017-11-28 Listing Removed — MiRealSource-MiMLS
• 2017-11-28 Listed $79,900 MiRealSource-MiMLS
• 2017-11-28 Listing Removed — REALCOMP
• 2017-11-28 Listed $89,900 REALCOMP
• 2017-11-28 Listed $79,900 REALCOMP
• 2017-11-28 Listing Removed — REALCOMP
• 2017-10-05 Listed $99,900 MiRealSource-MiMLS
• 2017-10-05 Listed $99,900 REALCOMP

Property tax history

-2.3%/yr

Latest (2025): $898 · -47.0% YoY. Source: county tax records.