14500 Bishop St · Oak Park, MI 48237

$120,000

3 bd · 1.0 ba · 1,099 sqft · SingleFamily public records · 1 Days on market

Built 1953 6,534 sqft lot Est $185k · 35% 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 +26.4/30.0
• ARV discount +15.0/15.0
• DSCR +9.0/10.0
• 1% rule +8.5/10.0
• Livability +4.2/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 BED 1 BATH CORNER RANCH IN PAK PARK BATVAI

Key facts

• 6,534 sq ft lot
• Built 1953

Property features AI

Finance

• Other: Subdivision: Edward Rose Greenfield Acres; Directions: Northfield to Marlowe to Bishop
• Financial info: $3,427 annual tax amount

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Ground-level entry with steps
• Construction: Brick and vinyl siding exterior
• Exterior features: Paved road access; Lot approximately 0.15 acres (69.7 x 95)

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); No central air conditioning
• Interior features: Finished basement; Six total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $314 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Cap rate 9.4% vs local median 4.9% in Oak Park — 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 (#41 in MI, #888 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools C-, employment D+, crime D.
• Oak Park School District (suburban): math 5% / reading 15% proficiency, ranked #521 of 540 in MI (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 77% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.7%/yr); 80 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $830 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.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 20y 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.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $120,000

Questions for the listing agent

1. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.35% ✓
• Cap rate: 9.44%
• Cash-on-cash: 11.23%
• DSCR: 1.50
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $184,632
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
24151 Church St	0.12mi	3/1.0	1,100 (+0%)	1mo	$150,000	$136	94
15211 Joan St	0.26mi	3/1.0	1,106 (+1%)	2mo	$125,000	$113	85
24270 Radclift St	0.21mi	3/1.5	1,086 (-1%)	8mo	$188,000	$173	80
14421 Rosemary Blvd	0.27mi	3/1.5	1,050 (-4%)	2mo	$200,000	$190	77
24310 Kipling St	0.44mi	3/1.0	1,129 (+3%)	2mo	$190,000	$168	73
24670 Gardner St	0.41mi	3/1.0	1,211 (+10%)	1mo	$197,000	$163	63
14221 W 10 Mile Rd	0.45mi	3/1.0	1,198 (+9%)	4mo	$190,000	$159	61
23071 Kenosha St	0.48mi	2/1.0 (-1)	1,021 (-7%)	5mo	$180,000	$176	56
22130 Kenosha St S	0.67mi	3/1.0	1,200 (+9%)	1mo	$150,000	$125	53
24700 Westhampton St	0.59mi	3/1.0	1,200 (+9%)	6mo	$200,000	$167	52
23041 Marlow St	0.51mi	3/1.5	1,250 (+14%)	7mo	$254,000	$203	45
22020 Sussex St	0.71mi	3/1.5	1,203 (+10%)	7mo	$260,000	$216	44

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 · 2.71% rent growth · sell at horizon

5-year hold

• IRR: 0.2%
• Equity multiple: 1.01×
• Total profit: $212
• Equity at exit: $17,892

10-year hold

• IRR: 9.6%
• Equity multiple: 1.73×
• Total profit: $24,481
• Equity at exit: $10,375

Cash invested: $33,600 (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 48237

• Rents YoY: 2.7%
• Active inventory: 80
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,619 high
• Mortgage (P&I): −$629
• Tax from tax record: −$286 /mo · $3,428/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $314

Break-even live

Break-even rent $1,221

Max offer price $120,000

Occupancy floor 76%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13600 Kenwood St Oak Park, MI	1.0–2.0	1.0	770	$1,649	$2.14	1d	26	0.54mi
25221 W Rue Versailles Dr Oak Park, MI	1.0–2.0	1.0	850	$1,055	$1.24	24d	1	0.63mi
15800 Providence Dr Southfield, MI	3.0	1.0–2.0	1140	$1,895	$1.66	1d	22	0.64mi
14051 W Nine Mile Rd Oak Park, MI	2.0	1.0	900	$1,100	$1.22	24d	1	0.66mi
25337 S Montmartre Ct Unit 2 Oak Park, MI	2.0	1.0	981	$1,200	$1.22	24d	1	0.69mi
25225 Greenfield Rd Southfield, MI	1.0–2.0	1.0	705	$1,133	$1.61	43d	6	0.75mi
23300 Providence Dr Southfield, MI	2.0–3.0	2.0	1342	$1,749	$1.30	1d	15	0.77mi
23600 Lamplighter Dr Southfield, MI	1.0–2.0	1.0–2.0	1085	$1,765	$1.63	2d	15	0.77mi
25500 Greenfield Rd Oak Park, MI	2.0	1.0	637	$1,310	$2.05	1d	12	0.79mi
13710 Balfour St Oak Park, MI	4.0	1.0	1152	$2,450	$2.13	16d	1	0.81mi
25600 Briar Dr Oak Park, MI	2.0–3.0	1.5	1235	$1,935	$1.57	23d	7	0.84mi
15075 Lincoln St Oak Park, MI	2.0	1.0–2.0	746	$1,240	$1.66	2d	1	0.88mi
14801 Lincoln St Oak Park, MI	2.0	1.0–1.5	990	$1,240	$1.25	2d	1	0.89mi
16176 Cumberland Rd Southfield, MI	2.0–3.0	2.0	1450	$1,675	$1.16	43d	1	0.90mi
22108 Dante St #115 Oak Park, MI	2.0	2.0	898	$1,250	$1.39	24d	1	0.96mi
22108 Dante St Oak Park, MI	2.0	1.0	898	$1,250	$1.39	24d	1	0.97mi
22148 Dante St #211 Oak Park, MI	2.0	2.0	916	$1,475	$1.61	17d	1	0.98mi
22148 Dante St #211 Oak Park, MI	2.0	1.0	916	$1,475	$1.61	24d	1	0.98mi
22148 Dante St #212 Oak Park, MI	2.0	2.0	916	$1,475	$1.61	21d	1	0.98mi
16200 W 9 Mile Rd Southfield, MI	1.0–2.0	1.0–2.0	971	$1,700	$1.75	4d	2	0.99mi
16300 W 9 Mile Rd Southfield, MI	1.0–2.0	1.0–2.0	950	$1,350	$1.42	43d	1	1.03mi
21850 Coolidge Hwy #203 Oak Park, MI	3.0	2.0	1100	$1,700	$1.55	4d	1	1.06mi
21880 Coolidge Hwy #203 Oak Park, MI	2.0	1.0	938	$1,300	$1.39	24d	1	1.06mi
21800 Coolidge Hwy Oak Park, MI	1.0–2.0	1.0	938	$1,300	$1.39	24d	3	1.08mi
12800 W 9 Mile Rd Oak Park, MI	1.0–2.0	1.0	775	$1,250	$1.61	24d	1	1.11mi
16500 N Park Dr Southfield, MI	1.0–3.0	1.0–2.5	1500	$2,289	$1.53	1d	1	1.37mi
23511 Majestic St Oak Park, MI	3.0	1.0	1100	$1,750	$1.59	24d	1	1.44mi
15833 W Eleven Mile Rd Southfield, MI	1.0–2.0	1.0	905	$1,424	$1.57	1d	6	1.46mi
10400 Saratoga St Oak Park, MI	2.0	1.0	829	$1,450	$1.75	4d	1	1.46mi
24540 Pinehurst Ave Unit 1 Oak Park, MI	2.0	3.0	1272	$2,500	$1.97	1d	1	1.48mi

Listing history 2 events

1. 2026-06-19
   remarks 44-char remark
2. 2026-06-19
   listed $120,000 Active 1 DOM

ⓘ 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: $3,428 · $286/mo
• Projected year-2 tax: $3,428 · $286/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 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $19,432
• − Mortgage interest: −$6,722
• − Property taxes: −$3,428
• − Insurance: −$600
• − Repairs & maintenance: −$1,555
• − Management: −$1,555
• − Depreciation: −$3,491
• Taxable income: $2,082
• Est. tax owed @ 24.0%: −$500
• After-tax cash flow: $3,272/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: Oak Park School District
• NCES district ID: 2626190
• Math proficiency: 5% ▼ -5.00%
• Reading proficiency: 15% ▼ -5.00%
• Median HH income: $46,117
• Composite: 9.21/100
• National rank: #9862
• State rank: #521 of 540 in MI

Livability — Oak Park

• Score: 83/100
• State rank: #41
• US rank: #888

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oak Park, MI
• County: Oakland County · 1,009,092 people
• City population: 29,318
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 29,318
• Household income: $71,510
• Rent vs Own: 36.7% rent · 63.3% own
• Severe rent burden: 960.0

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 0.59)
• Race & ethnicity: Black 53% White 36% Two or more races 6% Asian 3% Hispanic / Latino 1%
• Common ancestry: Romanian 4% Scotch-Irish 3% Slovak 1%
• Foreign-born: 8% · Vietnam, Canada, South Korea
• Languages at home: 90% English-only · Russian/Polish/Slavic 3% Arabic 1% Vietnamese 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: ▼ -336.34%
• Current HPI: 229.1148
• Rent YoY: ▲ 2.71%
• 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

+203.8% since first listed

20 events — show timeline

• 2026-06-18 Listed $120,000 REALCOMP
• 2026-06-18 Listed $120,000 MiRealSource-MiMLS
• 2016-07-15 Sold (MLS) $105,000 MiRealSource-MiMLS
• 2016-07-15 Sold (MLS) $105,000 REALCOMP
• 2016-07-02 Pending — MiRealSource-MiMLS
• 2016-07-02 Pending — REALCOMP
• 2016-06-25 Listed $105,000 MiRealSource-MiMLS
• 2016-06-25 Listed $105,000 REALCOMP
• 2013-04-23 Sold (MLS) $39,000 MiRealSource-MiMLS
• 2013-04-23 Sold (MLS) $39,000 REALCOMP
• 2013-04-18 Listing Removed — MiRealSource-MiMLS
• 2013-04-18 Listing Removed — REALCOMP
• 2012-11-27 Listed $32,900 MiRealSource-MiMLS
• 2012-11-27 Listed $32,900 REALCOMP
• 2006-08-08 Sold (Public Records) $115,000 Public Records
• 2006-07-21 Sold (MLS) $115,000 REALCOMP
• 2006-06-08 Listed $115,900 REALCOMP
• 2003-10-20 Sold (Public Records) $79,500 Public Records
• 1991-11-14 Sold (Public Records) $42,000 Public Records
• 1989-09-26 Sold (Public Records) $39,500 Public Records

Property tax history

+6.0%/yr

Latest (2025): $3,428 · +31.0% YoY. Source: county tax records.