28148 Fairfax St · Southfield, MI 48076

$154,900

3 bd · 1.0 ba · 945 sqft · SingleFamily public records · 89 Days on market

Built 1956 5,663 sqft lot $164/sqft · 11% below area Est $175k · 11% 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 +23.8/30.0
• ARV discount +12.6/15.0
• DSCR +7.6/10.0
• 1% rule +6.7/10.0
• Rent growth +3.7/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully remodeled home located in the heart of Southfield. This property boasts modern updates, including new luxury vinyl plank flooring throughout, a contemporary kitchen complete with sleek countertops and stylish tile work, and freshly painted interiors. The bathroom has also been tastefully updated for comfort and convenience. Enjoy the fantastic location, just a short drive from the vibrant communities of Royal Oak and Berkley. Nearby shopping, dining, and easy access to major highways make this home a perfect choice for those seeking both convenience and quality living. Don't miss the opportunity to own this charming home that combines modern features with a prime location. Schedule your showing today!

Key facts

• Close to restaurants
• Tiles
• Bathroom

Tags

• KITCHEN W COUNTER TOPS
• TILES
• BATHROOM
• HEART OF SOUTHFIELD
• CLOSE TO SHOPPING
• CLOSE TO RESTAURANTS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $296 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $146k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 4.6% 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 rising fast (+4.8%/yr); 96 active listings in the ZIP; 24 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 $1k of loan paydown is wiped out by about $5k 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 + 4.8% rent growth), your $43k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 24 sale attempts since 31y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $80k; list at $155k implies a 94% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,606 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1956 — 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. 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?
7. 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.
8. 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.
9. 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: 1.17% ✓
• Cap rate: 8.59%
• Cash-on-cash: 8.20%
• DSCR: 1.36
• GRM: 7.1

CMA / ARV

• ARV (median comp): $174,573
• List price: $154,900
• Delta: -11.27%
• 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
2690 Ellwood Ave	0.24mi	3/1.0	998 (+6%)	2mo	$175,000	$175	78
28110 Marshall St	0.06mi	3/1.0	1,056 (+12%)	2mo	$181,000	$171	76
3012 Greenfield Rd	0.20mi	3/1.0	1,065 (+13%)	1mo	$245,000	$230	69
28578 Marshall St	0.21mi	3/1.5	1,056 (+12%)	2mo	$207,500	$196	66
28464 Stuart Ave	0.44mi	3/1.0	1,036 (+10%)	4mo	$210,000	$203	60
3659 Ellwood Ave	0.54mi	3/1.0	1,025 (+8%)	2mo	$280,000	$273	59
2260 Ellwood Ave	0.41mi	2/2.0 (-1)	875 (-7%)	4mo	$333,000	$381	57
3626 Prairie Ave	0.61mi	2/2.0 (-1)	976 (+3%)	2mo	$279,900	$287	55
3170 Tyler Ave	0.73mi	2/1.0 (-1)	887 (-6%)	3mo	$185,500	$209	48
2330 Buckingham Ave	0.72mi	3/1.0	1,053 (+11%)	3mo	$215,000	$204	45
3952 Greenfield Rd	0.69mi	2/2.0 (-1)	868 (-8%)	3mo	$141,000	$162	43
1864 Bacon Ave	0.69mi	4/2.0 (+1)	1,072 (+13%)	1mo	$300,000	$280	36

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 · 4.84% rent growth · sell at horizon

5-year hold

• IRR: -1.6%
• Equity multiple: 0.94×
• Total profit: $-2,754
• Equity at exit: $23,096

10-year hold

• IRR: 10.0%
• Equity multiple: 1.85×
• Total profit: $36,681
• Equity at exit: $13,393

Cash invested: $43,372 (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 48076

• Rents YoY: 4.8%
• Active inventory: 96
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,807 high
• Mortgage (P&I): −$812
• Tax from tax record: −$254 /mo · $3,047/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$379
• Net cashflow: $296

Break-even live

Break-even rent $1,431

Max offer price $154,900

Occupancy floor 79%

Sensitivity live

Price	-10% $384	-5% $340	+0% $296	+5% $253	+10% $209
Rent	-10% $154	-5% $225	+0% $296	+5% $368	+10% $439
Rate	-1.0pp $374	-0.5pp $336	base $296	+0.5pp $256	+1.0pp $215

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
28124 Brentwood St Southfield, MI	3.0	1.0	1056	$1,800	$1.70	25d	1	0.13mi
3644 Greenfield Rd Unit 3664 Greenfield Berkley, MI	2.0	1.5	950	$1,700	$1.79	19d	1	0.51mi
3185 Buckingham Ave Berkley, MI	3.0	1.0	1091	$1,895	$1.74	25d	1	0.66mi
15833 W Eleven Mile Rd Southfield, MI	1.0–2.0	1.0	905	$1,424	$1.57	0d	5	0.76mi
29890 Everett St Southfield, MI	3.0	1.5	1100	$2,200	$2.00	45d	1	0.82mi
3936 Royal Ave Berkley, MI	3.0	2.0	900	$2,000	$2.22	45d	1	0.88mi
18248 W 12 Mile Rd Southfield, MI	1.0–2.0	1.0–2.0	902	$2,254	$2.50	2d	1	1.04mi
2575 Catalpa Dr Unit 2575-16 Berkley, MI	2.0	1.0	1100	$1,495	$1.36	25d	1	1.10mi
2575 Catalpa Dr Unit 2575-06 Berkley, MI	2.0	2.0	1100	$1,695	$1.54	25d	1	1.10mi
2639 Oxford Rd Berkley, MI	2.0	1.0	1010	$2,495	$2.47	0d	1	1.12mi
30276 Southfield Rd Unit 215 Southfield, MI	2.0	2.0	956	$1,399	$1.46	21d	1	1.26mi
15075 Lincoln St Oak Park, MI	2.0	1.0–2.0	746	$1,240	$1.66	4d	1	1.29mi
14801 Lincoln St Oak Park, MI	2.0	1.0–1.5	990	$1,240	$1.25	4d	1	1.30mi
30268 Southfield Rd #230 Southfield, MI	2.0	2.0	956	$1,450	$1.52	45d	1	1.31mi
2200 Berkley Ave Apt 102 Berkley, MI	2.0	1.0	900	$1,299	$1.44	0d	1	1.37mi
25600 Briar Dr Oak Park, MI	2.0–3.0	1.5	1235	$1,935	$1.57	25d	7	1.37mi
18333 South Dr Southfield, MI	1.0–2.0	1.0–2.0	1044	$1,975	$1.89	0d	5	1.37mi
4120 W 13 Mile Rd Royal Oak, MI	1.0–2.0	1.0	775	$1,300	$1.68	0d	4	1.39mi
30300 Southfield Rd Southfield, MI	1.0–3.0	1.0–2.5	1450	$2,150	$1.48	0d	1	1.41mi
25500 Greenfield Rd Oak Park, MI	2.0	1.0	637	$1,310	$2.05	3d	12	1.44mi
4030 W 13 Mile Rd Unit J2 Royal Oak, MI	2.0	1.0	724	$1,450	$2.00	19d	1	1.45mi
4030 W 13 Mile Rd Unit J2 Royal Oak, MI	2.0	1.0	724	$1,450	$2.00	21d	1	1.45mi
4030 W 13 Mile Rd Unit J2 Royal Oak, MI	2.0	1.0	724	$1,600	$2.21	25d	1	1.45mi
4000 W 13 Mile Rd Royal Oak, MI	2.0	1.0	780	$1,444	$1.85	3d	3	1.47mi

Listing history 50 events

1. 2026-06-21
   days on market $154,900 Active 89 DOM
2. 2026-06-18
   days on market $154,900 Active 86 DOM
3. 2026-06-17
   days on market $154,900 Active 85 DOM
4. 2026-06-16
   days on market $154,900 Active 84 DOM
5. 2026-06-15
   days on market $154,900 Active 83 DOM
6. 2026-06-13
   days on market $154,900 Active 81 DOM
7. 2026-06-13
   pricedays on market $154,900 Active 80 DOM
8. 2026-06-09
   days on market $165,000 Active 77 DOM
9. 2026-06-08
   days on market $165,000 Active 76 DOM
10. 2026-06-07
    days on market $165,000 Active 75 DOM
11. 2026-06-04
    days on market $165,000 Active 72 DOM
12. 2026-06-03
    days on market $165,000 Active 71 DOM
13. 2026-06-02
    days on market $165,000 Active 70 DOM
14. 2026-06-01
    days on market $165,000 Active 69 DOM
15. 2026-05-31
    days on market $165,000 Active 68 DOM
16. 2026-03-24
    listed $165,000 Active 738-char remark

    Show marketing remark (738 chars)

    Welcome to this beautifully remodeled home located in the heart of Southfield. This property boasts modern updates, including new luxury vinyl plank flooring throughout, a contemporary kitchen complete with sleek countertops and stylish tile work, and freshly painted interiors. The bathroom has also been tastefully updated for comfort and convenience. Enjoy the fantastic location, just a short drive from the vibrant communities of Royal Oak and Berkley. Nearby shopping, dining, and easy access to major highways make this home a perfect choice for those seeking both convenience and quality living. Don't miss the opportunity to own this charming home that combines modern features with a prime location. Schedule your showing today!

17. 2026-03-24
    listed $165,000 Active 738-char remark

    Show marketing remark (738 chars)

    Welcome to this beautifully remodeled home located in the heart of Southfield. This property boasts modern updates, including new luxury vinyl plank flooring throughout, a contemporary kitchen complete with sleek countertops and stylish tile work, and freshly painted interiors. The bathroom has also been tastefully updated for comfort and convenience. Enjoy the fantastic location, just a short drive from the vibrant communities of Royal Oak and Berkley. Nearby shopping, dining, and easy access to major highways make this home a perfect choice for those seeking both convenience and quality living. Don't miss the opportunity to own this charming home that combines modern features with a prime location. Schedule your showing today!

18. 2026-03-12
    historical
19. 2026-03-10
    listed $165,000 Active
20. 2026-03-10
    listed $165,000 Active
21. 2025-12-24
    historical $1,600
22. 2025-06-26
    listed $1,600
23. 2017-11-30
    soldstatus $80,000 Sold
24. 2017-11-30
    soldstatus $80,000 Closed
25. 2017-11-27
    soldstatus $80,000
26. 2017-10-10
    status Pending
27. 2017-10-10
    status Pending
28. 2017-09-15
    historical
29. 2017-09-15
    listed $89,900 Active
30. 2017-09-15
    listed $89,900 Active
31. 2017-09-15
    historical
32. 2017-07-31
    historical
33. 2017-07-31
    listed $95,900 Active
34. 2017-07-31
    listed $95,900 Active
35. 2017-07-31
    historical
36. 2017-07-15
    price $99,900
37. 2017-07-14
    historical
38. 2017-07-14
    price $99,900
39. 2017-07-14
    listed $99,900 Active
40. 2017-07-14
    status Active
41. 2017-07-14
    listed $99,900 Active
42. 2017-07-14
    status Active
43. 2017-07-14
    historical
44. 2017-03-23
    historical
45. 2017-03-23
    historical
46. 2017-03-13
    status Active
47. 2017-03-13
    status Active
48. 2017-03-08
    status Pending
49. 2017-03-07
    status Pending
50. 2017-02-23
    listed $69,900 Active

ⓘ 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: $3,047 · $254/mo
• Projected year-2 tax: $3,047 · $254/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 · 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: $21,678
• − Mortgage interest: −$8,677
• − Property taxes: −$3,047
• − Insurance: −$774
• − Repairs & maintenance: −$1,734
• − Management: −$1,734
• − Depreciation: −$4,506
• Taxable income: $1,205
• Est. tax owed @ 24.0%: −$289
• After-tax cash flow: $3,267/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): 25,405
• Household income: $90,058
• Rent vs Own: 26.4% rent · 73.6% own
• Severe rent burden: 607.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 57% White 32% Two or more races 7% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 3% Slovak 1% Scotch-Irish 1%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 90% English-only · Spanish 3% Arabic 2% 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: ▼ -192.13%
• Current HPI: 229.2304
• Rent YoY: ▲ 4.84%
• 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

+334.2% since first listed

53 events — show timeline

• 2026-03-24 Listed $165,000 REALCOMP
• 2026-03-24 Listed $165,000 MiRealSource-MiMLS
• 2026-03-12 Listing Removed — MiRealSource-MiMLS
• 2026-03-10 Listed $165,000 REALCOMP
• 2026-03-10 Listed $165,000 MiRealSource-MiMLS
• 2025-12-24 Rental Removed $1,600 REALSOURCE
• 2025-06-26 Listed for Rent $1,600 REALSOURCE
• 2017-11-30 Sold (MLS) $80,000 MiRealSource-MiMLS
• 2017-11-30 Sold (MLS) $80,000 REALCOMP
• 2017-11-27 Sold (Public Records) $80,000 Public Records
• 2017-10-10 Pending — MiRealSource-MiMLS
• 2017-10-10 Pending — REALCOMP
• 2017-09-15 Listing Removed — REALCOMP
• 2017-09-15 Listed $89,900 MiRealSource-MiMLS
• 2017-09-15 Listed $89,900 REALCOMP
• 2017-09-15 Listing Removed — MiRealSource-MiMLS
• 2017-07-31 Listing Removed — REALCOMP
• 2017-07-31 Listed $95,900 MiRealSource-MiMLS
• 2017-07-31 Listed $95,900 REALCOMP
• 2017-07-31 Listing Removed — MiRealSource-MiMLS
• 2017-07-15 Price Changed $99,900 MiRealSource-MiMLS
• 2017-07-14 Listing Removed — REALCOMP
• 2017-07-14 Price Changed $99,900 REALCOMP
• 2017-07-14 Listed $99,900 MiRealSource-MiMLS
• 2017-07-14 Relisted — MiRealSource-MiMLS
• 2017-07-14 Listed $99,900 REALCOMP
• 2017-07-14 Relisted — REALCOMP
• 2017-07-14 Listing Removed — MiRealSource-MiMLS
• 2017-03-23 Listing Removed — REALCOMP
• 2017-03-23 Listing Removed — MiRealSource-MiMLS
• 2017-03-13 Relisted — MiRealSource-MiMLS
• 2017-03-13 Relisted — REALCOMP
• 2017-03-08 Pending — MiRealSource-MiMLS
• 2017-03-07 Pending — REALCOMP
• 2017-02-23 Listed $69,900 MiRealSource-MiMLS
• 2017-02-21 Listed $69,900 REALCOMP
• 2009-11-24 Listing Removed — REALCOMP
• 2009-09-29 Listed $50,000 REALCOMP
• 2007-06-11 Listing Removed — MiRealSource-MiMLS
• 2007-06-06 Listed $900 MiRealSource-MiMLS
• 2006-12-31 Listing Removed — REALCOMP
• 2006-01-26 Listed $105,900 REALCOMP
• 2004-10-02 Listing Removed — REALCOMP
• 2004-04-02 Listed $117,000 REALCOMP
• 1998-03-17 Listing Removed — REALCOMP
• 1997-12-12 Listed $84,900 REALCOMP
• 1996-07-12 Listing Removed — REALCOMP
• 1996-06-20 Listed $74,900 REALCOMP
• 1995-10-18 Listing Removed — REALCOMP
• 1995-08-21 Listed $69,900 REALCOMP
• 1992-06-01 Sold (Public Records) $55,900 Public Records
• 1991-05-20 Sold (Public Records) $37,000 Public Records
• 1988-06-14 Sold (Public Records) $38,000 Public Records

Property tax history

+6.5%/yr

Latest (2024): $3,047 · -14.6% YoY. Source: county tax records.