7535 Toepfer Rd · Warren, MI 48091

$78,900

2 bd · 1.5 ba · 700 sqft · SingleFamily public records · 118 Days on market

Built 1940 4,356 sqft lot $113/sqft · 12% below area Est $89k · 12% 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 +29.5/30.0
• ARV discount +12.8/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Brand New Roof! INVESTOR SPECIAL on this 2-bed home in a strong rental market. This would also be an excellent opportunity for home ownership at great price. Move -in ready with lots of potential. Come and turn this good house into a great home or rental. As-Is.

Key facts

• 4,356 sq ft lot
• Garage
• Built 1940

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $79k.

Deal economics

• At list price, monthly cash flow is $282 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).
• Recommended offer: $72k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 5.3% in Warren — 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 74/100 on livability (#171 in MI, #4,491 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D, amenities D, employment D.
• Van Dyke Public Schools (urban): math 7% / reading 19% proficiency, ranked #512 of 540 in MI (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.4%/yr); 168 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 71% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,321 units permitted in Macomb County in 2024 (86 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $545 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Macomb County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 2.4% rent growth), your $22k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($72k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 27y ago; this cycle's ask is 5% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $71,799 (9.0% below list)

Questions for the listing agent

1. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is D 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?
8. 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.
9. 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.
10. 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: 1.52% ✓
• Cap rate: 10.58%
• Cash-on-cash: 15.31%
• DSCR: 1.68
• GRM: 5.5

CMA / ARV

• ARV (median comp): $89,429
• List price: $78,900
• Delta: -11.77%
• 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
7044 Westminster Ave	0.30mi	2/1.0	700 (0%)	4mo	$103,000	$147	81
8477 Prospect Ave	0.49mi	2/1.0	696 (-1%)	1mo	$90,000	$129	73
7084 Rivard Ave	0.49mi	2/1.0	698 (-0%)	3mo	$54,500	$78	72
7204 Continental Ave	0.60mi	2/1.5	732 (+5%)	1mo	$82,500	$113	63
7036 Lozier Ave	0.71mi	2/1.0	696 (-1%)	1mo	$82,500	$119	63
8712 Ford Ave	0.68mi	2/1.0	704 (+1%)	3mo	$85,000	$121	63
11084 Studebaker Ave	0.74mi	2/1.0	700 (0%)	5mo	$53,000	$76	59
8701 Toepfer Rd	0.61mi	3/1.0 (+1)	720 (+3%)	3mo	$80,000	$111	57
21832 Conners Ave	0.32mi	2/1.0	600 (-14%)	3mo	$84,000	$140	57
8284 Dodge Ave	0.55mi	3/1.0 (+1)	740 (+6%)	2mo	$100,000	$135	56
8101 Rivard Ave	0.52mi	2/2.0	616 (-12%)	0mo	$75,000	$122	53
11011 Hupp Ave	0.72mi	2/1.0	792 (+13%)	2mo	$90,000	$114	41

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 · 2.35% rent growth · sell at horizon

5-year hold

• IRR: 5.3%
• Equity multiple: 1.20×
• Total profit: $4,479
• Equity at exit: $11,764

10-year hold

• IRR: 14.1%
• Equity multiple: 2.10×
• Total profit: $24,235
• Equity at exit: $6,822

Cash invested: $22,092 (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 48091

• Rents YoY: 2.4%
• Active inventory: 168
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,198 high
• Mortgage (P&I): −$414
• Tax from tax record: −$218 /mo · $2,614/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $282

Break-even live

Break-even rent $841

Max offer price $78,900

Occupancy floor 71%

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: $19,725
• Closing costs: $2,367
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7275 Chalmers Ave Warren, MI	2.0	1.0	703	$1,200	$1.71	24d	1	0.07mi
8036 Hupp Ave Warren, MI	2.0	1.0	680	$1,150	$1.69	44d	1	0.25mi
7033 Westminster Ave Warren, MI	2.0	1.0	561	$1,050	$1.87	44d	1	0.30mi
7605 Jackson Ave Warren, MI	2.0	1.0	600	$1,165	$1.94	24d	1	0.41mi
8103 Lozier Ave Unit 2 Warren, MI	1.0	1.0	600	$650	$1.08	44d	1	0.74mi
11236 Studebaker Ave Warren, MI	2.0	1.0	672	$1,175	$1.75	44d	1	0.82mi
11130 Stephens Rd Warren, MI	2.0	1.0	750	$1,300	$1.73	44d	1	1.23mi

Listing history 50 events

1. 2026-06-18
   days on market $78,900 Active 118 DOM
2. 2026-06-17
   days on market $78,900 Active 117 DOM
3. 2026-06-16
   days on market $78,900 Active 116 DOM
4. 2026-06-15
   days on market $78,900 Active 115 DOM
5. 2026-06-13
   days on market $78,900 Active 113 DOM
6. 2026-06-13
   days on market $78,900 Active 112 DOM
7. 2026-06-09
   days on market $78,900 Active 109 DOM
8. 2026-06-08
   days on market $78,900 Active 108 DOM
9. 2026-06-07
   days on market $78,900 Active 107 DOM
10. 2026-06-04
    days on market $78,900 Active 104 DOM
11. 2026-06-03
    days on market $78,900 Active 103 DOM
12. 2026-06-02
    days on market $78,900 Active 102 DOM
13. 2026-06-01
    days on market $78,900 Active 101 DOM
14. 2026-05-31
    days on market $78,900 Active 100 DOM
15. 2026-04-11
    price $78,900 262-char remark

    Show marketing remark (262 chars)

    Brand New Roof! INVESTOR SPECIAL on this 2-bed home in a strong rental market. This would also be an excellent opportunity for home ownership at great price. Move -in ready with lots of potential. Come and turn this good house into a great home or rental. As-Is.

16. 2026-04-10
    price $78,900 262-char remark

    Show marketing remark (262 chars)

    Brand New Roof! INVESTOR SPECIAL on this 2-bed home in a strong rental market. This would also be an excellent opportunity for home ownership at great price. Move -in ready with lots of potential. Come and turn this good house into a great home or rental. As-Is.

17. 2026-03-24
    price $79,900 262-char remark

    Show marketing remark (262 chars)

    Brand New Roof! INVESTOR SPECIAL on this 2-bed home in a strong rental market. This would also be an excellent opportunity for home ownership at great price. Move -in ready with lots of potential. Come and turn this good house into a great home or rental. As-Is.

18. 2026-03-24
    price $79,900 262-char remark

    Show marketing remark (262 chars)

    Brand New Roof! INVESTOR SPECIAL on this 2-bed home in a strong rental market. This would also be an excellent opportunity for home ownership at great price. Move -in ready with lots of potential. Come and turn this good house into a great home or rental. As-Is.

19. 2026-03-03
    soldstatus $100,000
20. 2026-02-20
    listed $74,900 Active 262-char remark

    Show marketing remark (262 chars)

    Brand New Roof! INVESTOR SPECIAL on this 2-bed home in a strong rental market. This would also be an excellent opportunity for home ownership at great price. Move -in ready with lots of potential. Come and turn this good house into a great home or rental. As-Is.

21. 2026-02-20
    listed $74,900 Active 262-char remark

    Show marketing remark (262 chars)

    Brand New Roof! INVESTOR SPECIAL on this 2-bed home in a strong rental market. This would also be an excellent opportunity for home ownership at great price. Move -in ready with lots of potential. Come and turn this good house into a great home or rental. As-Is.

22. 2026-02-10
    soldstatus $90,000
23. 2025-11-03
    historical
24. 2025-11-03
    historical
25. 2025-10-14
    price $74,900
26. 2025-10-13
    price $74,900
27. 2025-09-23
    price $89,900
28. 2025-09-23
    price $89,900
29. 2025-09-22
    price $94,900
30. 2025-09-22
    price $94,900
31. 2025-09-08
    listed $99,900 Active
32. 2025-09-08
    listed $99,900 Active
33. 2025-09-04
    historical $1,200
34. 2025-09-02
    historical
35. 2025-09-02
    historical
36. 2025-08-07
    listed $1,200
37. 2025-07-21
    listed $112,900 Active
38. 2025-07-21
    listed $112,900 Active
39. 2025-07-17
    historical $1,250
40. 2025-07-12
    listed $1,250
41. 2024-03-14
    historical $1,100
42. 2023-12-31
    listed $1,100
43. 2023-12-24
    historical $1,100
44. 2023-12-23
    listed $1,100
45. 2022-11-10
    soldstatus $58,000
46. 2022-10-21
    soldstatus $58,000 Sold
47. 2022-10-21
    soldstatus $58,000 Closed
48. 2022-10-20
    status Pending
49. 2022-10-20
    status Pending
50. 2022-10-10
    listed $64,900 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: $2,614 · $218/mo
• Projected year-2 tax: $2,614 · $218/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 5/10 Major FEMA zone X (unshaded) · 51% 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 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,375
• − Mortgage interest: −$4,420
• − Property taxes: −$2,614
• − Insurance: −$394
• − Repairs & maintenance: −$1,150
• − Management: −$1,150
• − Depreciation: −$2,295
• Taxable income: $2,351
• Est. tax owed @ 24.0%: −$564
• After-tax cash flow: $2,818/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: Van Dyke Public Schools
• NCES district ID: 2634680
• Math proficiency: 7% ▼ -11.00%
• Reading proficiency: 19% ▼ -5.00%
• Median HH income: $33,231
• Composite: 10.46/100
• National rank: #9784
• State rank: #512 of 540 in MI

Livability — Warren

• Score: 74/100
• State rank: #171
• US rank: #4491

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Warren, MI
• County: Macomb County · 638,552 people
• City population: 114,937
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 30,696
• Household income: $54,230
• Rent vs Own: 35.1% rent · 64.9% own
• Severe rent burden: 1296.0

Population outlook (Macomb County) Hauer SSP2

• Today (2025): 925,296 people
• By 2030: 948,226 · +2.5%
• By 2040: 983,961 · +6.3%
• By 2050: 1,010,200 · +9.2%
• By 2075: 1,076,222 · +16.3%
• By 2100: 1,077,065 · +16.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 47% Black 25% Asian 19% Two or more races 5% Hispanic / Latino 3% Native American 2%
• Common ancestry: Romanian 7% Lithuanian 2% Slovak 1%
• Foreign-born: 16% · Canada
• Languages at home: 77% English-only · Other Indo-European 14% Other Asian/Pacific 3% Russian/Polish/Slavic 2%

Political lean MEDSL · Macomb

• 2024 margin: R (+13.7) · D 42.2% · R 55.9% · Other 1.9%
• 2008→2024 swing: -22.3pp toward R · 2008: 8.6pp · 2024: -13.7pp
• All cycles: 2024: R+13.7 2020: R+8.1 2016: R+11.6 2012: D+4.0 2008: D+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -199.66%
• Current HPI: 177.9273
• Rent YoY: ▲ 2.35%
• 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

+426.0% since first listed

47 events — show timeline

• 2026-04-11 Price Changed $78,900 MiRealSource-MiMLS
• 2026-04-10 Price Changed $78,900 REALCOMP
• 2026-03-24 Price Changed $79,900 MiRealSource-MiMLS
• 2026-03-24 Price Changed $79,900 REALCOMP
• 2026-03-03 Sold (Public Records) $100,000 Public Records
• 2026-02-20 Listed $74,900 REALCOMP
• 2026-02-20 Listed $74,900 MiRealSource-MiMLS
• 2026-02-10 Sold (Public Records) $90,000 Public Records
• 2025-11-03 Listing Removed — REALCOMP
• 2025-11-03 Listing Removed — MiRealSource-MiMLS
• 2025-10-14 Price Changed $74,900 MiRealSource-MiMLS
• 2025-10-13 Price Changed $74,900 REALCOMP
• 2025-09-23 Price Changed $89,900 MiRealSource-MiMLS
• 2025-09-23 Price Changed $89,900 REALCOMP
• 2025-09-22 Price Changed $94,900 MiRealSource-MiMLS
• 2025-09-22 Price Changed $94,900 REALCOMP
• 2025-09-08 Listed $99,900 REALCOMP
• 2025-09-08 Listed $99,900 MiRealSource-MiMLS
• 2025-09-04 Rental Removed $1,200 TURBOTENANT
• 2025-09-02 Listing Removed — MiRealSource-MiMLS
• 2025-09-02 Listing Removed — REALCOMP
• 2025-08-07 Listed for Rent $1,200 TURBOTENANT
• 2025-07-21 Listed $112,900 MiRealSource-MiMLS
• 2025-07-21 Listed $112,900 REALCOMP
• 2025-07-17 Rental Removed $1,250 TURBOTENANT
• 2025-07-12 Listed for Rent $1,250 TURBOTENANT
• 2024-03-14 Rental Removed $1,100 APPFOLIO
• 2023-12-31 Listed for Rent $1,100 APPFOLIO
• 2023-12-24 Rental Removed $1,100 TURBOTENANT
• 2023-12-23 Listed for Rent $1,100 TURBOTENANT
• 2022-11-10 Sold (Public Records) $58,000 Public Records
• 2022-10-21 Sold (MLS) $58,000 MiRealSource-MiMLS
• 2022-10-21 Sold (MLS) $58,000 REALCOMP
• 2022-10-20 Pending — MiRealSource-MiMLS
• 2022-10-20 Pending — REALCOMP
• 2022-10-10 Listed $64,900 MiRealSource-MiMLS
• 2022-10-10 Listed $64,900 REALCOMP
• 2002-11-20 Sold (Public Records) $27,000 Public Records
• 2001-06-20 Sold (MLS) $30,200 MiRealSource-MiMLS
• 2001-06-04 Listing Removed — MiRealSource-MiMLS
• 2001-04-24 Listed $44,900 MiRealSource-MiMLS
• 1999-08-04 Sold (Public Records) $27,000 Public Records
• 1999-07-02 Sold (MLS) $27,000 MiRealSource-MiMLS
• 1999-06-16 Listing Removed — MiRealSource-MiMLS
• 1999-06-08 Listed $29,500 MiRealSource-MiMLS
• 1992-06-08 Sold (Public Records) $15,000 Public Records
• 1991-04-04 Sold (Public Records) $15,000 Public Records

Property tax history

+7.7%/yr

Latest (2025): $2,614 · +2.6% YoY. Source: county tax records.