3191 Harris St · Ferndale, MI 48220

$119,900

2 bd · 1.0 ba · 730 sqft · SingleFamily public records · 56 Days on market

Built 1923 5,009 sqft lot Est $195k · 38% under

---

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 +21.8/30.0
• ARV discount +15.0/15.0
• 1% rule +7.8/10.0
• DSCR +7.0/10.0
• Livability +4.5/5.0
• Rent growth +4.1/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Key facts

• 5,009 sq ft lot
• Garage
• Built 1923

Property features AI

Exterior

• Parking: Detached garage; Garage space about 1.5 cars
• Utilities: Natural gas available and connected; Electricity available
• Home design: Ranch-style single family residence; Built in 1923
• Construction: Vinyl siding; Asphalt roof
• Exterior features: Sidewalk on the lot; Public water

Interior

• Kitchen: Kitchen (8 x 12)
• Bedrooms: Primary bedroom (8 x 9)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Seven total rooms; Full basement
• Laundry & utility: Dedicated laundry room (5 x 9); Natural gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $187 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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+.
• Hazel Park School District (suburban): math 10% / reading 24% proficiency, ranked #490 of 540 in MI (top 91%) — 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 fast (+6.2%/yr); 171 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $829 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 $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 20 sale attempts since 3y ago; this cycle's ask has dropped $30k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $116,303 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.28% ✓
• Cap rate: 8.16%
• Cash-on-cash: 6.68%
• DSCR: 1.30
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $194,910
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3191 Harris St	0.00mi	3/1.0 (+1)	730 (0%)	0mo	$120,900	$166	95
3034 Paxton St	0.35mi	2/1.0	754 (+3%)	5mo	$241,000	$320	74
1902 Moorhouse St	0.30mi	2/1.0	768 (+5%)	5mo	$230,000	$299	73
1600 Woodward Hts	0.35mi	3/1.0 (+1)	750 (+3%)	3mo	$110,000	$147	71
1715 Brockton Ave	0.49mi	2/1.0	791 (+8%)	1mo	$250,000	$316	62
2040 Symes St	0.70mi	2/1.0	755 (+3%)	1mo	$172,500	$228	61
2306 Barrett Ave	0.44mi	2/1.0	805 (+10%)	5mo	$190,000	$236	58
2411 Harris St	0.49mi	2/1.0	814 (+12%)	1mo	$150,000	$184	57
2535 Bonner St	0.42mi	2/1.0	624 (-14%)	1mo	$235,000	$377	55
1538 S Campbell Rd	0.26mi	3/1.0 (+1)	831 (+14%)	6mo	$222,000	$267	55
2122 Brockton Ave	0.49mi	2/1.0	820 (+12%)	6mo	$210,000	$256	51
612 W Brockton Ave	0.73mi	2/1.5	800 (+10%)	1mo	$215,000	$269	47

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: -1.7%
• Equity multiple: 0.93×
• Total profit: $-2,217
• Equity at exit: $17,877

10-year hold

• IRR: 11.8%
• Equity multiple: 2.09×
• Total profit: $36,632
• Equity at exit: $10,367

Cash invested: $33,572 (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: 6.5×

Monthly cashflow live

• Estimated rent: $1,534 high
• Mortgage (P&I): −$629
• Tax from tax record: −$346 /mo · $4,157/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $187

Break-even live

Break-even rent $1,298

Max offer price $119,900

Occupancy floor 83%

Sensitivity live

Price	-10% $255	-5% $221	+0% $187	+5% $153	+10% $119
Rent	-10% $66	-5% $126	+0% $187	+5% $248	+10% $308
Rate	-1.0pp $247	-0.5pp $217	base $187	+0.5pp $156	+1.0pp $124

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2215 Browning St Ferndale, MI	2.0	1.0	739	$1,350	$1.83	5d	1	0.39mi
525 E Woodland St Ferndale, MI	1.0	1.0	400	$1,070	$2.67	22d	1	0.64mi
425 Vester St Unit A Ferndale, MI	2.0	1.0	525	$1,349	$2.57	5d	1	0.84mi
150 E Woodland St Unit 1 Ferndale, MI	1.0	1.0	700	$1,600	$2.29	44d	1	0.90mi
150 E Woodland St Unit 2 Ferndale, MI	1.0	1.0	700	$1,500	$2.14	44d	1	0.90mi
552 E Saratoga St Unit Upper Unit Ferndale, MI	2.0	1.0	700	$1,300	$1.86	24d	1	0.99mi
218 Academy St Unit Upper Unit Ferndale, MI	1.0	1.0	500	$850	$1.70	5d	1	1.16mi
23773 Hazelwood Ave Hazel Park, MI	2.0	1.0	671	$1,400	$2.09	13d	1	1.22mi
430 W 9 Mile Rd Ferndale, MI	1.0–2.0	1.0–2.0	754	$2,827	$3.75	2d	3	1.24mi
165 E Hazelhurst St Unit 2 Ferndale, MI	1.0	1.0	500	$898	$1.80	18d	1	1.26mi
22111 Woodward Ave Ferndale, MI	2.0	1.0	816	$3,355	$4.11	17d	1	1.30mi
690 E Marshall St Unit Lower Ferndale, MI	1.0	1.0	700	$1,295	$1.85	11d	1	1.31mi
23115 Tawas Ave Hazel Park, MI	2.0	1.0	706	$1,375	$1.95	24d	1	1.40mi
1045 E Woodward Heights Blvd Hazel Park, MI	1.0–2.0	1.0	715	$1,209	$1.69	24d	3	1.41mi
620 S Center St Unit 620-305 Royal Oak, MI	1.0	1.0	550	$1,350	$2.45	24d	1	1.46mi
900 Laprairie St Ferndale, MI	1.0	1.0	700	$1,015	$1.45	44d	1	1.48mi

Listing history 50 events

1. 2026-04-25
   status Pending
2. 2026-04-25
   status Pending
3. 2026-04-25
   status Pending
4. 2026-04-18
   price $119,900
5. 2026-04-17
   price $119,900
6. 2026-04-17
   price $119,900
7. 2026-04-10
   price $129,900
8. 2026-04-09
   price $129,900
9. 2026-04-09
   price $129,900
10. 2026-03-12
    price $139,900
11. 2026-03-11
    price $139,900
12. 2026-03-11
    price $139,900
13. 2026-02-28
    listed $149,900 Active
14. 2026-02-28
    listed $149,900 Active
15. 2026-02-28
    listed $149,900 Active
16. 2026-02-07
    historical
17. 2026-02-06
    historical
18. 2026-01-23
    price $159,880
19. 2026-01-23
    price $159,880
20. 2026-01-23
    price $159,880
21. 2026-01-11
    price $169,880
22. 2026-01-11
    price $169,880
23. 2026-01-10
    price $169,880
24. 2026-01-06
    listed $179,880 Active
25. 2026-01-06
    listed $179,880 Active
26. 2025-11-11
    historical
27. 2025-11-07
    listed $189,900 Active
28. 2025-11-07
    listed $189,900 Active
29. 2025-11-07
    historical
30. 2025-01-08
    historical
31. 2025-01-08
    historical
32. 2024-12-03
    historical $1,350
33. 2024-11-06
    price $180,000
34. 2024-11-05
    price $180,000
35. 2024-11-05
    price $180,000
36. 2024-10-30
    historical $1,350
37. 2024-10-28
    listed $1,350
38. 2024-10-24
    listed $1,500
39. 2024-10-20
    historical $1,350
40. 2024-10-17
    price $1,350
41. 2024-10-15
    price $189,900
42. 2024-10-14
    price $189,900
43. 2024-10-14
    price $189,900
44. 2024-10-07
    listed $199,000 Active
45. 2024-10-07
    listed $199,000 Active
46. 2024-09-11
    price $1,400
47. 2024-08-28
    price $1,500
48. 2024-08-22
    listed $1,600
49. 2024-08-21
    historical
50. 2024-08-21
    historical

ⓘ 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: $4,157 · $346/mo
• Projected year-2 tax: $4,157 · $346/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 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,411
• − Mortgage interest: −$6,716
• − Property taxes: −$4,157
• − Insurance: −$600
• − Repairs & maintenance: −$1,473
• − Management: −$1,473
• − Depreciation: −$3,488
• Taxable income: $504
• Est. tax owed @ 24.0%: −$121
• After-tax cash flow: $2,122/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: Hazel Park School District
• NCES district ID: 2618030
• Math proficiency: 10% ▼ -2.00%
• Reading proficiency: 24% ▲ 1.00%
• Median HH income: $36,181
• Composite: 14.05/100
• National rank: #9466
• State rank: #490 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

• Census place: Ferndale, MI
• 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

+605.3% since first listed

91 events — show timeline

• 2026-04-25 Pending — REALCOMP
• 2026-04-25 Pending — MiRealSource-MiMLS
• 2026-04-25 Pending — SW Michigan MLS
• 2026-04-18 Price Changed $119,900 MiRealSource-MiMLS
• 2026-04-17 Price Changed $119,900 REALCOMP
• 2026-04-17 Price Changed $119,900 SW Michigan MLS
• 2026-04-10 Price Changed $129,900 MiRealSource-MiMLS
• 2026-04-09 Price Changed $129,900 REALCOMP
• 2026-04-09 Price Changed $129,900 SW Michigan MLS
• 2026-03-12 Price Changed $139,900 MiRealSource-MiMLS
• 2026-03-11 Price Changed $139,900 REALCOMP
• 2026-03-11 Price Changed $139,900 SW Michigan MLS
• 2026-02-28 Listed $149,900 SW Michigan MLS
• 2026-02-28 Listed $149,900 MiRealSource-MiMLS
• 2026-02-28 Listed $149,900 REALCOMP
• 2026-02-07 Listing Removed — MiRealSource-MiMLS
• 2026-02-06 Listing Removed — REALCOMP
• 2026-01-23 Price Changed $159,880 MiRealSource-MiMLS
• 2026-01-23 Price Changed $159,880 REALCOMP
• 2026-01-23 Price Changed $159,880 SW Michigan MLS
• 2026-01-11 Price Changed $169,880 MiRealSource-MiMLS
• 2026-01-11 Price Changed $169,880 REALCOMP
• 2026-01-10 Price Changed $169,880 SW Michigan MLS
• 2026-01-06 Listed $179,880 REALCOMP
• 2026-01-06 Listed $179,880 MiRealSource-MiMLS
• 2025-11-11 Listing Removed — MiRealSource-MiMLS
• 2025-11-07 Listed $189,900 REALCOMP
• 2025-11-07 Listed $189,900 MiRealSource-MiMLS
• 2025-11-07 Coming Soon — MiRealSource-MiMLS
• 2025-01-08 Listing Removed — REALCOMP
• 2025-01-08 Listing Removed — MiRealSource-MiMLS
• 2024-12-03 Rental Removed $1,350 REALCOMP
• 2024-11-06 Price Changed $180,000 MiRealSource-MiMLS
• 2024-11-05 Price Changed $180,000 REALCOMP
• 2024-11-05 Price Changed $180,000 SW Michigan MLS
• 2024-10-30 Rental Removed $1,350 RENTSPREE
• 2024-10-28 Listed for Rent $1,350 REALCOMP
• 2024-10-24 Listed for Rent $1,500 RENTSPREE
• 2024-10-20 Rental Removed $1,350 REALCOMP
• 2024-10-17 Price Changed $1,350 REALCOMP
• 2024-10-15 Price Changed $189,900 MiRealSource-MiMLS
• 2024-10-14 Price Changed $189,900 REALCOMP
• 2024-10-14 Price Changed $189,900 SW Michigan MLS
• 2024-10-07 Listed $199,000 MiRealSource-MiMLS
• 2024-10-07 Listed $199,000 REALCOMP
• 2024-09-11 Price Changed $1,400 REALCOMP
• 2024-08-28 Price Changed $1,500 REALCOMP
• 2024-08-22 Listed for Rent $1,600 REALCOMP
• 2024-08-21 Listing Removed — MiRealSource-MiMLS
• 2024-08-21 Listing Removed — REALCOMP
• 2024-08-19 Listed $1,600 MiRealSource-MiMLS
• 2024-08-19 Listed $1,600 REALCOMP
• 2024-08-14 Rental Removed $1,600 REALSOURCE
• 2024-08-13 Listing Removed — MiRealSource-MiMLS
• 2024-08-13 Listing Removed — REALCOMP
• 2024-07-24 Listed for Rent $1,600 REALSOURCE
• 2024-07-24 Price Changed $199,900 MiRealSource-MiMLS
• 2024-07-24 Price Changed $199,900 REALCOMP
• 2024-06-14 Listed $209,000 MiRealSource-MiMLS
• 2024-06-14 Listed $209,000 REALCOMP
• 2024-01-13 Rental Removed $1,200 REALCOMP
• 2023-12-31 Price Changed $1,200 REALCOMP
• 2023-11-29 Listing Removed — MiRealSource-MiMLS
• 2023-11-29 Listing Removed — REALCOMP
• 2023-11-24 Price Changed $159,900 MiRealSource-MiMLS
• 2023-11-24 Price Changed $1,250 REALCOMP
• 2023-11-24 Price Changed $159,900 REALCOMP
• 2023-11-14 Price Changed $165,000 MiRealSource-MiMLS
• 2023-11-13 Price Changed $165,000 REALCOMP
• 2023-11-09 Price Changed $1,400 REALCOMP
• 2023-10-31 Price Changed $169,900 MiRealSource-MiMLS
• 2023-10-30 Price Changed $169,900 REALCOMP
• 2023-10-25 Price Changed $1,500 REALCOMP
• 2023-10-13 Price Changed $179,900 MiRealSource-MiMLS
• 2023-10-13 Price Changed $179,900 REALCOMP
• 2023-10-13 Listed for Rent $1,650 REALCOMP
• 2023-09-28 Price Changed $189,900 REALCOMP
• 2023-09-28 Listed $189,900 MiRealSource-MiMLS
• 2023-09-28 Listed $179,900 REALCOMP
• 2022-12-08 Listing Removed — MiRealSource-MiMLS
• 2022-12-08 Listing Removed — REALCOMP
• 2022-11-24 Price Changed $175,900 MiRealSource-MiMLS
• 2022-11-23 Price Changed $175,900 REALCOMP
• 2022-11-16 Price Changed $179,900 MiRealSource-MiMLS
• 2022-11-16 Price Changed $179,900 REALCOMP
• 2022-11-02 Price Changed $194,900 MiRealSource-MiMLS
• 2022-11-01 Price Changed $194,900 REALCOMP
• 2022-10-25 Price Changed $199,900 MiRealSource-MiMLS
• 2022-10-24 Price Changed $213,000 MiRealSource-MiMLS
• 2019-08-30 Sold (Public Records) $106,900 Public Records
• 1996-01-05 Sold (Public Records) $17,000 Public Records

Property tax history

+9.2%/yr

Latest (2025): $4,157 · +2.0% YoY. Source: county tax records.