28740 Fairfax St · Southfield, MI 48076

$200,000

3 bd · 1.0 ba · 1,792 sqft · SingleFamily public records · 5 Days on market

Built 1948 5,663 sqft lot Est $349k · 43% 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 +21.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +5.7/10.0
• 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

* * Highest and Best offers due Saturday, 9/13 at 4:00 PM * * . Welcome to 28740 Fairfax! This beautifully updated 3-bedroom, 1-bath gungalow is perfectly nestled on the border of Southfield and Berkley, offering the best of both communities. Step into a bright and airy living room featuring a large picture window that fills the space with natural light. The updated kitchen boasts granite countertops, newer cabinets, and stainless steel appliances, flowing seamlessly into the dining area with a sliding doorwall leading to a spacious backyard deck - ideal for entertaining or relaxing outdoors. Additional updates include refinished hardwood floors, new carpet, newer roof and siding, sliding doorwall, furnace, central A/C, and more. The remodeled bathroom adds modern comfort and style. Don't miss this move-in-ready gem in a desirable location!

Key facts

• 5,663 sq ft lot
• Built 1948
• Listed 5 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $309 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Cap rate 8.1% 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: health & safety D, crime F, amenities 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.
• Zoned schools: Vandenberg Elementary School (math 17% / reading 27%, grade F, #1,035 of 1,397 statewide, top 77%, 306 students, 69% FRL) — zoned schools average 69% FRL vs 52% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.8%/yr); 96 active listings in the ZIP; 11 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 $6k 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 5 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 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $200,000

Questions for the listing agent

1. Built in 1948 — 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 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?
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: 1.07% ✓
• Cap rate: 8.14%
• Cash-on-cash: 6.61%
• DSCR: 1.29
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $349,440
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
28042 Brentwood St	0.40mi	3/2.0	1,716 (-4%)	1mo	$337,500	$197	69
3676 Prairie Ave	0.45mi	3/2.5	1,818 (+2%)	3mo	$621,500	$342	68
28466 Brentwood St	0.21mi	3/1.0	1,533 (-14%)	0mo	$185,100	$121	66
17377 Avilla Blvd	0.62mi	3/2.0	1,750 (-2%)	5mo	$289,000	$165	59
3665 Bacon Ave	0.47mi	3/1.5	2,027 (+13%)	0mo	$357,000	$176	54
3911 Thomas Ave	0.45mi	3/2.0	1,590 (-11%)	3mo	$340,000	$214	54
27754 Spring Arbor Dr	0.68mi	3/2.0	1,898 (+6%)	2mo	$350,000	$184	53
28316 Sutherland St	0.34mi	4/2.0 (+1)	1,558 (-13%)	4mo	$303,500	$195	50
2756 Buckingham Ave	0.74mi	3/1.0	1,650 (-8%)	5mo	$321,000	$195	48
17360 Redwood Ave	0.64mi	3/1.5	2,028 (+13%)	2mo	$270,000	$133	44
3104 Prairie Ave	0.72mi	3/2.0	1,587 (-11%)	0mo	$370,000	$233	43
29945 Everett St	0.57mi	4/1.5 (+1)	1,568 (-12%)	5mo	$265,000	$169	42

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: -4.1%
• Equity multiple: 0.84×
• Total profit: $-8,692
• Equity at exit: $29,821

10-year hold

• IRR: 7.6%
• Equity multiple: 1.63×
• Total profit: $35,056
• Equity at exit: $17,292

Cash invested: $56,000 (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 48076

• Rents YoY: 4.8%
• Active inventory: 96
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,140 high
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$449
• Net cashflow: $309

Break-even live

Break-even rent $1,750

Max offer price $200,000

Occupancy floor 81%

Sensitivity live

Price	-10% $447	-5% $378	+0% $309	+5% $239	+10% $170
Rent	-10% $139	-5% $224	+0% $309	+5% $393	+10% $478
Rate	-1.0pp $409	-0.5pp $359	base $309	+0.5pp $257	+1.0pp $204

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3324 Greenfield Rd Berkley, MI	2.0	2.0	1563	$2,200	$1.41	46d	1	0.17mi
28291 Pierce St Southfield, MI	2.0	1.0	1332	$1,580	$1.19	26d	1	0.45mi
28051 Stuart Ave Southfield, MI	3.0	1.5	1441	$2,000	$1.39	19d	1	0.60mi
3003 Garden Ave Royal Oak, MI	3.0	3.0	1788	$2,850	$1.59	19d	1	0.67mi
30256 Southfield Rd Southfield, MI	3.0	2.0	1227	$1,662	$1.35	7d	2	0.95mi
30256 Southfield Rd Southfield, MI	3.0	2.0	1238	$1,675	$1.35	26d	1	0.95mi
18175 Avilla Blvd Lathrup Village, MI	3.0	1.5	1531	$2,300	$1.50	46d	1	0.96mi
17440 W Eleven Mile Rd Lathrup Village, MI	2.0	2.5	1264	$1,949	$1.54	7d	1	1.10mi
30300 Southfield Rd Southfield, MI	1.0–3.0	1.0–2.5	1450	$2,150	$1.48	1d	1	1.19mi
2330 Wiltshire Rd Berkley, MI	3.0	1.0	1254	$2,400	$1.91	4d	1	1.26mi
3902 Springer Ave Royal Oak, MI	4.0	2.5	2225	$2,800	$1.26	17d	1	1.38mi

Listing history 5 events

1. 2025-09-15
   status Pending 855-char remark

   Show marketing remark (855 chars)

   * * Highest and Best offers due Saturday, 9/13 at 4:00 PM * * . Welcome to 28740 Fairfax! This beautifully updated 3-bedroom, 1-bath gungalow is perfectly nestled on the border of Southfield and Berkley, offering the best of both communities. Step into a bright and airy living room featuring a large picture window that fills the space with natural light. The updated kitchen boasts granite countertops, newer cabinets, and stainless steel appliances, flowing seamlessly into the dining area with a sliding doorwall leading to a spacious backyard deck - ideal for entertaining or relaxing outdoors. Additional updates include refinished hardwood floors, new carpet, newer roof and siding, sliding doorwall, furnace, central A/C, and more. The remodeled bathroom adds modern comfort and style. Don't miss this move-in-ready gem in a desirable location!

2. 2025-09-15
   status Pending

   Show marketing remark (855 chars)

   * * Highest and Best offers due Saturday, 9/13 at 4:00 PM * * . Welcome to 28740 Fairfax! This beautifully updated 3-bedroom, 1-bath gungalow is perfectly nestled on the border of Southfield and Berkley, offering the best of both communities. Step into a bright and airy living room featuring a large picture window that fills the space with natural light. The updated kitchen boasts granite countertops, newer cabinets, and stainless steel appliances, flowing seamlessly into the dining area with a sliding doorwall leading to a spacious backyard deck - ideal for entertaining or relaxing outdoors. Additional updates include refinished hardwood floors, new carpet, newer roof and siding, sliding doorwall, furnace, central A/C, and more. The remodeled bathroom adds modern comfort and style. Don't miss this move-in-ready gem in a desirable location!

3. 2025-09-11
   listed $200,000 Active 855-char remark

   Show marketing remark (855 chars)

   * * Highest and Best offers due Saturday, 9/13 at 4:00 PM * * . Welcome to 28740 Fairfax! This beautifully updated 3-bedroom, 1-bath gungalow is perfectly nestled on the border of Southfield and Berkley, offering the best of both communities. Step into a bright and airy living room featuring a large picture window that fills the space with natural light. The updated kitchen boasts granite countertops, newer cabinets, and stainless steel appliances, flowing seamlessly into the dining area with a sliding doorwall leading to a spacious backyard deck - ideal for entertaining or relaxing outdoors. Additional updates include refinished hardwood floors, new carpet, newer roof and siding, sliding doorwall, furnace, central A/C, and more. The remodeled bathroom adds modern comfort and style. Don't miss this move-in-ready gem in a desirable location!

4. 2025-09-11
   listed $200,000 Active

   Show marketing remark (855 chars)

   * * Highest and Best offers due Saturday, 9/13 at 4:00 PM * * . Welcome to 28740 Fairfax! This beautifully updated 3-bedroom, 1-bath gungalow is perfectly nestled on the border of Southfield and Berkley, offering the best of both communities. Step into a bright and airy living room featuring a large picture window that fills the space with natural light. The updated kitchen boasts granite countertops, newer cabinets, and stainless steel appliances, flowing seamlessly into the dining area with a sliding doorwall leading to a spacious backyard deck - ideal for entertaining or relaxing outdoors. Additional updates include refinished hardwood floors, new carpet, newer roof and siding, sliding doorwall, furnace, central A/C, and more. The remodeled bathroom adds modern comfort and style. Don't miss this move-in-ready gem in a desirable location!

5. 2025-09-09
   historical $200,000 855-char remark

   Show marketing remark (855 chars)

   * * Highest and Best offers due Saturday, 9/13 at 4:00 PM * * . Welcome to 28740 Fairfax! This beautifully updated 3-bedroom, 1-bath gungalow is perfectly nestled on the border of Southfield and Berkley, offering the best of both communities. Step into a bright and airy living room featuring a large picture window that fills the space with natural light. The updated kitchen boasts granite countertops, newer cabinets, and stainless steel appliances, flowing seamlessly into the dining area with a sliding doorwall leading to a spacious backyard deck - ideal for entertaining or relaxing outdoors. Additional updates include refinished hardwood floors, new carpet, newer roof and siding, sliding doorwall, furnace, central A/C, and more. The remodeled bathroom adds modern comfort and style. Don't miss this move-in-ready gem in a desirable location!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $25,681
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,054
• − Management: −$2,054
• − Depreciation: −$5,818
• Taxable income: $551
• Est. tax owed @ 24.0%: −$132
• After-tax cash flow: $3,570/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

+0.0% since first listed

5 events — show timeline

• 2025-09-15 Pending — MiRealSource-MiMLS
• 2025-09-15 Pending — REALCOMP
• 2025-09-11 Listed $200,000 MiRealSource-MiMLS
• 2025-09-11 Listed $200,000 REALCOMP
• 2025-09-09 Coming Soon $200,000 MiRealSource-MiMLS

Property tax history

-13.7%/yr

Latest (2025): $291 · -86.2% YoY. Source: county tax records.