822 Bernie Ln · Madison Heights, MI 48071

$225,000

3 bd · 1.5 ba · 1,862 sqft · SingleFamily public records · 7 Days on market

Built 1958 5,227 sqft lot Est $250k · 10% under

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Why this score? — see what drove the C 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 +23.7/30.0
• ARV discount +11.9/15.0
• DSCR +7.6/10.0
• 1% rule +5.5/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this inviting 3 bedroom, 2 bath ranch offering an open floor concept, great natural light, and plenty of usable space throughout. The main floor features wood floors, a comfortable living area, and spacious bedrooms that give the home a warm and practical feel. The open layout creates an easy flow between the living, dining, and kitchen areas, making the space great for everyday living or entertaining. The fully finished basement adds even more room to enjoy, complete with a wet bar, second full bathroom, laundry room, and great storage space. Outside, you'll find a nice size front porch, fully fenced backyard, and a 2.5 car detached garage. A great Madison Heights ranch with the space, layout, and finished lower level to enjoy inside and out.

Key facts

• Wet bar
• Wood floors
• Open floor concept

Tags

• OPEN FLOOR CONCEPT
• NATURAL LIGHT
• WOOD FLOORS
• SPACIOUS BEDROOMS
• FULLY FINISHED BASEMENT
• WET BAR

Property features AI

Finance

• Other: Pets allowed

Exterior

• Parking: Detached garage; Driveway; Garage door opener; Garage faces side; Approximately 2.5 garage spaces
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family residence; One level; Ground-level entry with steps; Brick and vinyl siding exterior; Asphalt roof
• Construction: Built with brick and vinyl siding; Asphalt roof; Finished below-grade area
• Exterior features: Back yard with fencing; Shed(s); Paved road access

Interior

• Kitchen: Dishwasher; Disposal; Free-standing refrigerator; Microwave; Gas water heater
• Bedrooms: Total of 6 rooms (bedroom count not specified)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating with natural gas
• Interior features: Unfurnished; Finished basement; Porch
• Laundry & utility: Laundry room; Washer

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 $428 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $225k).
• Cap rate 8.6% vs local median 5.7% in Madison Heights — 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 81/100 on livability (#62 in MI, #1,347 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D+, health & safety D.
• Madison District Public Schools (suburban): math 9% / reading 21% proficiency, ranked #502 of 540 in MI (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.8%/yr); 141 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).
• This rent runs 41% of the median local income ($70k/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.
• Oakland County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 7 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.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $225,000

Questions for the listing agent

1. Built in 1958 — 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. 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.
5. 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.
6. 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: 1.05% ✓
• Cap rate: 8.57%
• Cash-on-cash: 8.14%
• DSCR: 1.36
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $249,508
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
833 Bernie Ln	0.03mi	4/1.5 (+1)	1,998 (+7%)	1mo	$235,000	$118	81
27604 Rialto St	0.10mi	3/1.5	1,680 (-10%)	1mo	$240,000	$143	78
348 Sonia Ave	0.16mi	3/1.5	1,680 (-10%)	0mo	$250,000	$149	76
822 Bernie Ln	0.00mi	3/2.0	2,128 (+14%)	0mo	$210,000	$99	74
309 Sonia Ave	0.21mi	2/1.5 (-1)	1,680 (-10%)	0mo	$225,000	$134	69
28303 Diesing Dr	0.65mi	3/1.5	1,909 (+2%)	0mo	$240,000	$126	65
1594 Harvard Dr	0.64mi	3/2.5	1,847 (-1%)	0mo	$415,000	$225	64
76 W Katherine Ave	0.61mi	3/1.5	2,018 (+8%)	0mo	$265,000	$131	57
29064 Howard Ave	0.64mi	3/2.0	1,736 (-7%)	1mo	$245,000	$141	56
28146 Park Ct	0.43mi	3/1.0	2,100 (+13%)	1mo	$235,000	$112	56
28419 Park Ct	0.48mi	3/2.0	2,100 (+13%)	0mo	$260,000	$124	54
28447 Brush St	0.60mi	3/2.0	1,659 (-11%)	1mo	$287,500	$173	51

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 · 2.81% rent growth · sell at horizon

5-year hold

• IRR: -4.1%
• Equity multiple: 0.85×
• Total profit: $-9,710
• Equity at exit: $33,548

10-year hold

• IRR: 5.3%
• Equity multiple: 1.39×
• Total profit: $24,637
• Equity at exit: $19,454

Cash invested: $63,000 (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 48071

• Rents YoY: 2.8%
• Active inventory: 141
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,372 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$173 /mo · $2,073/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$498
• Net cashflow: $428

Break-even live

Break-even rent $1,831

Max offer price $225,000

Occupancy floor 77%

Sensitivity live

Price	-10% $555	-5% $491	+0% $428	+5% $364	+10% $300
Rent	-10% $240	-5% $334	+0% $428	+5% $521	+10% $615
Rate	-1.0pp $541	-0.5pp $485	base $428	+0.5pp $369	+1.0pp $310

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1045 E 12 Mile Rd Madison Heights, MI	3.0	1.0	1700	$4,000	$2.35	0d	1	0.59mi
642 Bellaire Ave Madison Heights, MI	3.0	2.5	1750	$2,423	$1.38	23d	1	0.84mi
14895 Twelve Mile Rd Warren, MI	1.0–2.0	1.0–1.5	1025	$1,560	$1.52	3d	4	0.86mi
1322 Elliott Ave Madison Heights, MI	3.0	1.5	1500	$2,100	$1.40	19d	1	0.87mi
29607 Howard Ave Madison Heights, MI	3.0	2.5	1956	$1,950	$1.00	45d	1	1.00mi
740 Sheffield Dr Madison Heights, MI	3.0	1.5	2303	$2,000	$0.87	45d	1	1.07mi
28222 Saint Louise Dr Warren, MI	3.0	2.0	1600	$5,500	$3.44	0d	1	1.09mi
1132 N Campbell Rd Royal Oak, MI	2.0–3.0	1.0–1.5	1125	$2,085	$1.85	0d	8	1.24mi
406 N Campbell Rd Royal Oak, MI	3.0	2.0	1814	$2,500	$1.38	0d	1	1.32mi
2630 Antonia Ln Warren, MI	3.0	1.5	2264	$1,900	$0.84	45d	1	1.39mi
1106 Grove Ave Royal Oak, MI	4.0	2.5	1289	$2,325	$1.80	0d	1	1.42mi

Listing history 4 events

1. 2026-05-15
   status Pending

   Show marketing remark (764 chars)

   Welcome to this inviting 3 bedroom, 2 bath ranch offering an open floor concept, great natural light, and plenty of usable space throughout. The main floor features wood floors, a comfortable living area, and spacious bedrooms that give the home a warm and practical feel. The open layout creates an easy flow between the living, dining, and kitchen areas, making the space great for everyday living or entertaining. The fully finished basement adds even more room to enjoy, complete with a wet bar, second full bathroom, laundry room, and great storage space. Outside, you'll find a nice size front porch, fully fenced backyard, and a 2.5 car detached garage. A great Madison Heights ranch with the space, layout, and finished lower level to enjoy inside and out.

2. 2026-05-15
   status Pending 764-char remark

   Show marketing remark (764 chars)

   Welcome to this inviting 3 bedroom, 2 bath ranch offering an open floor concept, great natural light, and plenty of usable space throughout. The main floor features wood floors, a comfortable living area, and spacious bedrooms that give the home a warm and practical feel. The open layout creates an easy flow between the living, dining, and kitchen areas, making the space great for everyday living or entertaining. The fully finished basement adds even more room to enjoy, complete with a wet bar, second full bathroom, laundry room, and great storage space. Outside, you'll find a nice size front porch, fully fenced backyard, and a 2.5 car detached garage. A great Madison Heights ranch with the space, layout, and finished lower level to enjoy inside and out.

3. 2026-05-07
   listed $225,000 Active

   Show marketing remark (764 chars)

   Welcome to this inviting 3 bedroom, 2 bath ranch offering an open floor concept, great natural light, and plenty of usable space throughout. The main floor features wood floors, a comfortable living area, and spacious bedrooms that give the home a warm and practical feel. The open layout creates an easy flow between the living, dining, and kitchen areas, making the space great for everyday living or entertaining. The fully finished basement adds even more room to enjoy, complete with a wet bar, second full bathroom, laundry room, and great storage space. Outside, you'll find a nice size front porch, fully fenced backyard, and a 2.5 car detached garage. A great Madison Heights ranch with the space, layout, and finished lower level to enjoy inside and out.

4. 2026-05-07
   listed $225,000 Active 764-char remark

   Show marketing remark (764 chars)

   Welcome to this inviting 3 bedroom, 2 bath ranch offering an open floor concept, great natural light, and plenty of usable space throughout. The main floor features wood floors, a comfortable living area, and spacious bedrooms that give the home a warm and practical feel. The open layout creates an easy flow between the living, dining, and kitchen areas, making the space great for everyday living or entertaining. The fully finished basement adds even more room to enjoy, complete with a wet bar, second full bathroom, laundry room, and great storage space. Outside, you'll find a nice size front porch, fully fenced backyard, and a 2.5 car detached garage. A great Madison Heights ranch with the space, layout, and finished lower level to enjoy inside and out.

ⓘ 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: $2,073 · $173/mo
• Projected year-2 tax: $2,769 · $231/mo
• Expected delta: +$696/yr (+$58/mo · 33.6%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 71% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 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: $28,467
• − Mortgage interest: −$12,603
• − Property taxes: −$2,073
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,277
• − Management: −$2,277
• − Depreciation: −$6,545
• Taxable income: $1,565
• Est. tax owed @ 24.0%: −$376
• After-tax cash flow: $4,756/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: Madison District Public Schools
• NCES district ID: 2622290
• Math proficiency: 9% ▼ -11.00%
• Reading proficiency: 21% ▼ -12.00%
• Median HH income: $41,297
• Composite: 12.89/100
• National rank: #9586
• State rank: #502 of 540 in MI

Livability — Madison Heights

• Score: 81/100
• State rank: #62
• US rank: #1347

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Madison Heights, MI
• County: Oakland County · 1,009,092 people
• City population: 28,419
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 28,419
• Household income: $69,503
• Rent vs Own: 35.2% rent · 64.8% own
• Severe rent burden: 786.0

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 (79%)
• Race & ethnicity: White 79% Black 7% Asian 7% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 11% Lithuanian 3% Slovak 2%
• Foreign-born: 14% · China, Canada, South Korea
• Languages at home: 84% English-only · Chinese 3% Other Indo-European 3% Arabic 2%

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: ▼ -275.69%
• Current HPI: 243.4861
• Rent YoY: ▲ 2.81%
• 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

• 2026-05-15 Pending — REALCOMP
• 2026-05-15 Pending — MiRealSource-MiMLS
• 2026-05-07 Listed $225,000 MiRealSource-MiMLS
• 2026-05-07 Listed $225,000 REALCOMP

Property tax history

+2.6%/yr

Latest (2025): $2,073 · +2.6% YoY. Source: county tax records.