21385 Garden Ln · Royal Oak, MI 48220

$110,000

2 bd · 1.0 ba · 1,023 sqft · SingleFamily public records · 27 Days on market

Built 1941 4,356 sqft lot

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Rent growth +4.1/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great home ready for new owner to renovate.

Key facts

• 4,356 sq ft lot
• Built 1941
• Listed 27 days

Property features AI

Finance

• Other: Subdivision: FOREST GROVENO 1; Directions: 8 Mile to Garden Lane (cross street: 8 Mile and Garden Lane)

Exterior

• Parking: No garage
• Utilities: Water available; Sewer available
• Home design: Single-family residence; One-story home with ground-level entry; Vinyl siding
• Construction: Built on a slab foundation
• Exterior features: Paved road access; Lot approximately 0.1 acre (45 x 102)

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating; ENERGY STAR qualified equipment; No central cooling
• Interior features: Three total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $457 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.3% vs local median 3.8% in Royal Oak — 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 83/100 on livability (#50 in MI, #1,020 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: amenities D+.
• Ferndale Public Schools (suburban): math 18% / reading 39% proficiency, ranked #366 of 540 in MI (top 68%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+6.2%/yr); 171 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $761 of loan paydown is wiped out by about $3k 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 $31k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y ago 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.
• Current owner paid $14k; list at $110k implies a 659% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $108,350 (1.5% below list)

Questions for the listing agent

1. Built in 1941 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.45% ✓
• Cap rate: 11.28%
• Cash-on-cash: 17.80%
• DSCR: 1.79
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $242,451
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21395 Westview Ave	0.10mi	3/1.0 (+1)	1,100 (+8%)	3mo	$125,000	$114	76
10311 Saratoga St	0.57mi	2/1.0	1,029 (+1%)	0mo	$139,000	$135	72
8796 Saratoga St	0.47mi	3/1.0 (+1)	985 (-4%)	0mo	$233,000	$237	66
1368 Northway St	0.67mi	3/1.0 (+1)	1,017 (-1%)	0mo	$264,900	$260	62
20805 Bethlawn Blvd	0.41mi	3/1.5 (+1)	1,083 (+6%)	3mo	$168,500	$156	62
8570 Troy St	0.52mi	3/1.5 (+1)	969 (-5%)	1mo	$260,000	$268	59
10280 Troy St	0.64mi	3/1.0 (+1)	988 (-3%)	1mo	$180,000	$182	58
10731 Albany St	0.66mi	3/1.0 (+1)	972 (-5%)	2mo	$159,000	$164	54
23241 Republic Ave	0.75mi	3/1.0 (+1)	1,057 (+3%)	3mo	$211,150	$200	52
1169 W Marshall St	0.53mi	3/1.0 (+1)	909 (-11%)	1mo	$216,000	$238	51
1028 W Hazelhurst St	0.72mi	3/1.0 (+1)	1,087 (+6%)	2mo	$326,400	$300	49
23066 Ithaca St	0.67mi	3/2.0 (+1)	932 (-9%)	3mo	$230,000	$247	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 · 6.24% rent growth · sell at horizon

5-year hold

• IRR: 13.1%
• Equity multiple: 1.54×
• Total profit: $16,680
• Equity at exit: $16,401

10-year hold

• IRR: 24.4%
• Equity multiple: 3.46×
• Total profit: $75,683
• Equity at exit: $9,511

Cash invested: $30,800 (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: 5.8×

Monthly cashflow live

• Estimated rent: $1,591 high
• Mortgage (P&I): −$577
• Tax from tax record: −$177 /mo · $2,129/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $457

Break-even live

Break-even rent $1,013

Max offer price $110,000

Occupancy floor 66%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21374 Ithaca Ave Ferndale, MI	3.0	1.0	996	$1,775	$1.78	24d	1	0.19mi
1557 Leroy St Ferndale, MI	3.0	2.0	1380	$2,523	$1.83	5d	1	0.42mi
22811 Rosewood St Oak Park, MI	3.0	1.0	1000	$1,600	$1.60	24d	1	0.48mi
10020 Corning St Oak Park, MI	2.0	1.0	829	$1,400	$1.69	24d	1	0.54mi
20458 Indiana St Detroit, MI	3.0	1.0	1049	$1,300	$1.24	18d	1	0.54mi
20515 Ilene St Detroit, MI	3.0	1.0	891	$1,450	$1.63	44d	1	0.55mi
20445 Kentucky St Detroit, MI	3.0	1.0	1046	$1,200	$1.15	24d	1	0.56mi
1491 W Nine Mile Rd Unit 9 Ferndale, MI	2.0	1.0	900	$1,350	$1.50	44d	1	0.59mi
10000 W Nine Mile Rd Unit 3 Oak Park, MI	2.0	1.0	900	$1,000	$1.11	44d	1	0.61mi
20460 Griggs St Detroit, MI	2.0	1.0	910	$1,100	$1.21	17d	1	0.61mi
10050 W Nine Mile Rd Unit 18 Oak Park, MI	2.0	1.0	900	$1,000	$1.11	5d	1	0.61mi
10400 Saratoga St Oak Park, MI	2.0	1.0	829	$1,450	$1.75	5d	1	0.61mi
631 Shasta Pl Ferndale, MI	3.0	2.0	1317	$2,100	$1.59	44d	1	0.64mi
20185 Indiana St Detroit, MI	2.0	1.5	1096	$1,275	$1.16	44d	1	0.67mi
1260 W Nine Mile Rd Unit 13 Ferndale, MI	2.0	1.0	1000	$1,399	$1.40	15d	1	0.72mi
578 Kensington Ave Ferndale, MI	2.0	1.0	860	$1,600	$1.86	5d	1	0.73mi
20110 Northlawn St Detroit, MI	3.0	1.0	1100	$1,350	$1.23	17d	1	0.77mi
20429 Monte Vista St Detroit, MI	3.0	1.0	872	$1,300	$1.49	17d	1	0.78mi
510 Stratford Rd Ferndale, MI	2.0	1.0	965	$1,750	$1.81	44d	1	0.80mi
20009 Wisconsin St Detroit, MI	3.0	1.5	1051	$1,400	$1.33	17d	1	0.82mi
695 Livernois St Unit 3 Ferndale, MI	1.0	1.0	830	$2,150	$2.59	13d	1	0.82mi
695 Livernois St Unit 2 Ferndale, MI	2.0	1.0	950	$2,350	$2.47	4d	1	0.82mi
695 Livernois St Unit 1 Ferndale, MI	2.0	2.0	1500	$2,750	$1.83	13d	1	0.82mi
20045 Greenlawn St Detroit, MI	3.0	1.0	925	$1,350	$1.46	44d	1	0.85mi
20245 Manor Detroit, MI	3.0	1.0	1018	$1,400	$1.38	3d	1	0.86mi
20122 Manor St Detroit, MI	3.0	1.0	1028	$1,200	$1.17	44d	1	0.93mi
23511 Majestic St Oak Park, MI	3.0	1.0	1100	$1,750	$1.59	24d	1	0.94mi
20032 Monte Vista St Detroit, MI	3.0	1.0	1000	$1,294	$1.29	20d	1	0.94mi
12800 W 9 Mile Rd Oak Park, MI	1.0–2.0	1.0	775	$1,250	$1.61	24d	1	0.96mi
851 Gardendale St Ferndale, MI	2.0	1.0	933	$1,625	$1.74	24d	1	0.98mi
19929 Monte Vista St Detroit, MI	3.0	1.0	860	$1,450	$1.69	17d	1	1.04mi
20038 Santa Rosa Dr Detroit, MI	3.0	1.0	927	$1,300	$1.40	17d	1	1.10mi
22148 Dante St #212 Oak Park, MI	2.0	2.0	916	$1,475	$1.61	22d	1	1.10mi
22148 Dante St #211 Oak Park, MI	2.0	1.0	916	$1,475	$1.61	24d	1	1.10mi
22148 Dante St #211 Oak Park, MI	2.0	2.0	916	$1,475	$1.61	18d	1	1.10mi
22108 Dante St #115 Oak Park, MI	2.0	2.0	898	$1,250	$1.39	24d	1	1.12mi
22108 Dante St Oak Park, MI	2.0	1.0	898	$1,250	$1.39	24d	1	1.14mi
413 W Nine Mile Rd Ste B Ferndale, MI	1.0	1.0	897	$1,850	$2.06	18d	1	1.15mi
415 W Nine Mile Rd Ferndale, MI	1.0	1.0	912	$2,500	$2.74	18d	1	1.15mi
430 W 9 Mile Rd Ferndale, MI	1.0–2.0	1.0–2.0	754	$2,827	$3.75	2d	3	1.16mi

Listing history 21 events

1. 2026-06-18
   days on market $110,000 Active 27 DOM
2. 2026-06-17
   days on market $110,000 Active 26 DOM
3. 2026-06-16
   days on market $110,000 Active 25 DOM
4. 2026-06-15
   days on market $110,000 Active 24 DOM
5. 2026-06-13
   days on market $110,000 Active 22 DOM
6. 2026-06-13
   days on market $110,000 Active 21 DOM
7. 2026-06-09
   days on market $110,000 Active 18 DOM
8. 2026-06-08
   days on market $110,000 Active 17 DOM
9. 2026-06-07
   days on market $110,000 Active 16 DOM
10. 2026-06-04
    days on market $110,000 Active 13 DOM
11. 2026-06-03
    days on market $110,000 Active 12 DOM
12. 2026-06-02
    days on market $110,000 Active 11 DOM
13. 2026-06-01
    days on market $110,000 Active 10 DOM
14. 2026-05-31
    days on market $110,000 Active 9 DOM
15. 2026-05-22
    listed $110,000 Active

    Show marketing remark (43 chars)

    Great home ready for new owner to renovate.

16. 2026-05-22
    listed $110,000 Active 43-char remark

    Show marketing remark (43 chars)

    Great home ready for new owner to renovate.

17. 2009-10-08
    historical
18. 2009-10-07
    listed $5,900
19. 2008-02-22
    historical
20. 2007-12-28
    listed $9,900
21. 1986-07-01
    soldstatus $14,500

ⓘ 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: $2,129 · $177/mo
• Projected year-2 tax: $2,129 · $177/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 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $19,094
• − Mortgage interest: −$6,162
• − Property taxes: −$2,129
• − Insurance: −$550
• − Repairs & maintenance: −$1,528
• − Management: −$1,528
• − Depreciation: −$3,200
• Taxable income: $3,998
• Est. tax owed @ 24.0%: −$960
• After-tax cash flow: $4,523/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: Ferndale Public Schools
• NCES district ID: 2614280
• Math proficiency: 18% ▼ -3.00%
• Reading proficiency: 39% ▲ 5.00%
• Median HH income: $56,069
• Composite: 25.46/100
• National rank: #7449
• State rank: #366 of 540 in MI

Livability — Royal Oak

• Score: 83/100
• State rank: #50
• US rank: #1020

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Oakland County · 1,009,092 people
• City population: 57,974
• 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

+658.6% since first listed

7 events — show timeline

• 2026-05-22 Listed $110,000 MiRealSource-MiMLS
• 2026-05-22 Listed $110,000 REALCOMP
• 2009-10-08 Listing Removed — REALCOMP
• 2009-10-07 Listed $5,900 REALCOMP
• 2008-02-22 Listing Removed — REALCOMP
• 2007-12-28 Listed $9,900 REALCOMP
• 1986-07-01 Sold (Public Records) $14,500 Public Records

Property tax history

+1.5%/yr

Latest (2025): $2,129 · +71.4% YoY. Source: county tax records.