2000 Moorhouse St · Ferndale, MI 48220

$170,000

2 bd · 1.0 ba · 998 sqft · SingleFamily public records · 10 Days on market

Built 1950 4,356 sqft lot Est $232k · 27% 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 +19.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.2/10.0
• 1% rule +4.8/10.0
• 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

Listing remarks MLS

Charming ranch offering just under 1,000 square feet of comfortable living space! This well-loved home has been cared for by the same owner for more than 50 years and is ready for its next chapter. Featuring two bedrooms, one full bath, a spacious living room, separate family room, and dedicated dining room, the layout offers great flow and abundant natural light throughout. Vinyl windows have been installed throughout, and the roof is approximately 15 years old. Outside, you'll find a large shed / one-car garage at the rear of the property, providing plenty of storage. A wonderful opportunity to update and make this home your own. Sold AS-IS, no repairs, replacements or updates will be made after inspection. All reasonable offers will be considered.

Key facts

• 4,356 sq ft lot
• Garage
• Built 1950

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Ground-level entry; Aluminum siding
• Construction: Built with aluminum siding; Asphalt roof; Slab foundation; One level
• Exterior features: Covered patio and porch

Interior

• Kitchen: Electric cooktop; Free-standing refrigerator
• Bedrooms: Total rooms: 7
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Unfurnished; Awning(s)
• Laundry & utility: Laundry room; Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $199 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $167k (1.7% below list).
• Recommended offer: $167k (1.7% below list) — sets the bar for 1% rule.
• Cap rate 7.7% 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); 180 active listings in the ZIP; 36 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 $5k 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 10 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 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $167,074 (1.7% below list)

Questions for the listing agent

1. Built in 1950 — 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. 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: 0.98% ✗
• Cap rate: 7.70%
• Cash-on-cash: 5.01%
• DSCR: 1.22
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $231,536
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2000 Moorhouse St	0.00mi	2/1.0	998 (0%)	1mo	$132,500	$133	99
1851 Moorhouse St	0.09mi	2/2.0	1,024 (+3%)	2mo	$252,500	$247	86
2171 Chestnut St	0.26mi	3/1.0 (+1)	967 (-3%)	2mo	$240,000	$248	76
2157 Symes St	0.36mi	3/1.0 (+1)	1,033 (+4%)	2mo	$204,000	$197	70
1130 E Breckenridge St	0.52mi	2/1.0	1,062 (+6%)	2mo	$135,000	$127	63
1220 Orchard St	0.44mi	3/1.0 (+1)	928 (-7%)	0mo	$269,900	$291	62
2723 Wolcott St	0.51mi	2/1.0	1,098 (+10%)	0mo	$252,000	$230	59
3221 Harris St	0.34mi	3/1.0 (+1)	1,128 (+13%)	0mo	$269,900	$239	57
2840 Horton St	0.65mi	3/1.0 (+1)	948 (-5%)	2mo	$220,000	$232	55
376 W Rowland Ave	0.75mi	3/1.0 (+1)	1,030 (+3%)	1mo	$236,000	$229	54
2850 Wolcott St	0.49mi	3/1.0 (+1)	880 (-12%)	1mo	$199,900	$227	52
3116 Horton St	0.68mi	3/2.0 (+1)	1,061 (+6%)	2mo	$299,500	$282	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: -5.1%
• Equity multiple: 0.81×
• Total profit: $-9,273
• Equity at exit: $25,348

10-year hold

• IRR: 8.0%
• Equity multiple: 1.69×
• Total profit: $32,859
• Equity at exit: $14,698

Cash invested: $47,600 (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 48220

• Rents YoY: 6.2%
• Active inventory: 180
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,671 high
• Mortgage (P&I): −$891
• Tax from tax record: −$159 /mo · $1,906/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $199

Break-even live

Break-even rent $1,419

Max offer price $170,000

Occupancy floor 83%

Sensitivity live

Price	-10% $295	-5% $247	+0% $199	+5% $151	+10% $103
Rent	-10% $67	-5% $133	+0% $199	+5% $265	+10% $331
Rate	-1.0pp $284	-0.5pp $242	base $199	+0.5pp $155	+1.0pp $110

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 36 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	0.13mi
1800 Browning St Ferndale, MI	2.0	1.0	809	$1,600	$1.98	6d	1	0.14mi
2181 Coy St Ferndale, MI	3.0	1.0	1050	$1,995	$1.90	12d	1	0.26mi
1816 Guthrie Ave Royal Oak, MI	3.0	1.0	1100	$1,800	$1.64	6d	1	0.55mi
550 Rosewood St Unit 202 Ferndale, MI	1.0	1.0	655	$1,200	$1.83	0d	1	0.76mi
501 E Breckenridge St Ferndale, MI	3.0	1.0	946	$1,800	$1.90	25d	1	0.76mi
455 E Cambourne St Unit 2 Ferndale, MI	2.0	1.0	900	$2,400	$2.67	4d	1	0.78mi
453 E Cambourne St Unit 1 Ferndale, MI	2.0	1.0	1000	$2,500	$2.50	4d	1	0.78mi
425 Vester St Unit A Ferndale, MI	2.0	1.0	525	$1,349	$2.57	6d	1	0.79mi
2023 Ardmore Dr Ferndale, MI	2.0	1.0	771	$1,250	$1.62	25d	1	0.82mi
400 E Cambourne St Unit 1 Ferndale, MI	2.0	1.0	1000	$1,400	$1.40	12d	1	0.85mi
266 W Goulson Ave Hazel Park, MI	3.0	1.0	942	$1,600	$1.70	23d	1	0.86mi
552 E Saratoga St Unit Upper Unit Ferndale, MI	2.0	1.0	700	$1,300	$1.86	25d	1	0.90mi
23773 Hazelwood Ave Hazel Park, MI	2.0	1.0	671	$1,400	$2.09	13d	1	0.93mi
328 W Kalama Ave Madison Heights, MI	3.0	1.0	900	$1,575	$1.75	6d	1	0.95mi
23345 Tawas Ave Hazel Park, MI	3.0	1.0	1000	$1,550	$1.55	12d	1	1.03mi
617 S Edgeworth Ave Royal Oak, MI	2.0	1.0	955	$2,125	$2.23	25d	1	1.04mi
150 E Woodland St Unit 2 Ferndale, MI	1.0	1.0	700	$1,500	$2.14	44d	1	1.05mi
150 E Woodland St Unit 1 Ferndale, MI	1.0	1.0	700	$1,600	$2.29	44d	1	1.05mi
23115 Tawas Ave Hazel Park, MI	2.0	1.0	706	$1,375	$1.95	25d	1	1.08mi
916 Cherokee Ave Royal Oak, MI	2.0	1.5	944	$2,250	$2.38	4d	1	1.09mi
818 Etowah Ave Unit 1032341P Royal Oak, MI	2.0	1.0	893	$6,755	$7.56	15d	1	1.09mi
690 E Marshall St Unit Lower Ferndale, MI	1.0	1.0	700	$1,295	$1.85	12d	1	1.12mi
1045 E Woodward Heights Blvd Hazel Park, MI	1.0–2.0	1.0	715	$1,209	$1.69	25d	3	1.13mi
226 Withington St Apt 10 Ferndale, MI	1.0	1.0	800	$1,325	$1.66	19d	1	1.16mi
90 W Meyers Ave Hazel Park, MI	2.0	1.0	831	$1,800	$2.17	25d	1	1.21mi
22111 Woodward Ave Ferndale, MI	2.0	1.0	816	$3,355	$4.11	17d	1	1.26mi
739 S Alexander Ave Unit Top Level Royal Oak, MI	1.0	1.0	900	$1,200	$1.33	19d	1	1.28mi
790 Jewell St Ferndale, MI	2.0	1.0	800	$1,445	$1.81	25d	1	1.33mi
430 W 9 Mile Rd Ferndale, MI	1.0–2.0	2.0	826	$2,827	$3.42	0d	2	1.33mi
415 W Nine Mile Rd Ferndale, MI	1.0	1.0	912	$2,500	$2.74	19d	1	1.33mi
413 W Nine Mile Rd Ste B Ferndale, MI	1.0	1.0	897	$1,850	$2.06	19d	1	1.33mi
1561 E Webster St Ferndale, MI	2.0	1.0	939	$1,600	$1.70	25d	1	1.41mi
901 Saint Louis St Ferndale, MI	2.0	1.0	800	$1,395	$1.74	44d	1	1.41mi
901 Saint Louis St Unit 901-02 Ferndale, MI	2.0	1.0	800	$1,395	$1.74	25d	1	1.41mi
900 Laprairie St Ferndale, MI	1.0	1.0	700	$1,015	$1.45	44d	1	1.45mi

Listing history 5 events

1. 2026-05-20
   status Pending 760-char remark

   Show marketing remark (760 chars)

   Charming ranch offering just under 1,000 square feet of comfortable living space! This well-loved home has been cared for by the same owner for more than 50 years and is ready for its next chapter. Featuring two bedrooms, one full bath, a spacious living room, separate family room, and dedicated dining room, the layout offers great flow and abundant natural light throughout. Vinyl windows have been installed throughout, and the roof is approximately 15 years old. Outside, you'll find a large shed / one-car garage at the rear of the property, providing plenty of storage. A wonderful opportunity to update and make this home your own. Sold AS-IS, no repairs, replacements or updates will be made after inspection. All reasonable offers will be considered.

2. 2026-05-20
   status Pending

   Show marketing remark (760 chars)

   Charming ranch offering just under 1,000 square feet of comfortable living space! This well-loved home has been cared for by the same owner for more than 50 years and is ready for its next chapter. Featuring two bedrooms, one full bath, a spacious living room, separate family room, and dedicated dining room, the layout offers great flow and abundant natural light throughout. Vinyl windows have been installed throughout, and the roof is approximately 15 years old. Outside, you'll find a large shed / one-car garage at the rear of the property, providing plenty of storage. A wonderful opportunity to update and make this home your own. Sold AS-IS, no repairs, replacements or updates will be made after inspection. All reasonable offers will be considered.

3. 2026-05-11
   listed $170,000 Active

   Show marketing remark (760 chars)

   Charming ranch offering just under 1,000 square feet of comfortable living space! This well-loved home has been cared for by the same owner for more than 50 years and is ready for its next chapter. Featuring two bedrooms, one full bath, a spacious living room, separate family room, and dedicated dining room, the layout offers great flow and abundant natural light throughout. Vinyl windows have been installed throughout, and the roof is approximately 15 years old. Outside, you'll find a large shed / one-car garage at the rear of the property, providing plenty of storage. A wonderful opportunity to update and make this home your own. Sold AS-IS, no repairs, replacements or updates will be made after inspection. All reasonable offers will be considered.

4. 2026-05-11
   listed $170,000 Active 760-char remark

   Show marketing remark (760 chars)

   Charming ranch offering just under 1,000 square feet of comfortable living space! This well-loved home has been cared for by the same owner for more than 50 years and is ready for its next chapter. Featuring two bedrooms, one full bath, a spacious living room, separate family room, and dedicated dining room, the layout offers great flow and abundant natural light throughout. Vinyl windows have been installed throughout, and the roof is approximately 15 years old. Outside, you'll find a large shed / one-car garage at the rear of the property, providing plenty of storage. A wonderful opportunity to update and make this home your own. Sold AS-IS, no repairs, replacements or updates will be made after inspection. All reasonable offers will be considered.

5. 2026-05-05
   historical $170,000 760-char remark

   Show marketing remark (760 chars)

   Charming ranch offering just under 1,000 square feet of comfortable living space! This well-loved home has been cared for by the same owner for more than 50 years and is ready for its next chapter. Featuring two bedrooms, one full bath, a spacious living room, separate family room, and dedicated dining room, the layout offers great flow and abundant natural light throughout. Vinyl windows have been installed throughout, and the roof is approximately 15 years old. Outside, you'll find a large shed / one-car garage at the rear of the property, providing plenty of storage. A wonderful opportunity to update and make this home your own. Sold AS-IS, no repairs, replacements or updates will be made after inspection. All reasonable offers will be considered.

ⓘ 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: $1,906 · $159/mo
• Projected year-2 tax: $2,262 · $188/mo
• Expected delta: +$356/yr (+$30/mo · 18.7%)

ⓘ 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: $20,049
• − Mortgage interest: −$9,523
• − Property taxes: −$1,906
• − Insurance: −$850
• − Repairs & maintenance: −$1,604
• − Management: −$1,604
• − Depreciation: −$4,945
• Taxable loss: −$383
• Est. tax savings @ 24.0%: +$92
• After-tax cash flow: $2,477/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

+0.0% since first listed

5 events — show timeline

• 2026-05-20 Pending — MiRealSource-MiMLS
• 2026-05-20 Pending — REALCOMP
• 2026-05-11 Listed $170,000 REALCOMP
• 2026-05-11 Listed $170,000 MiRealSource-MiMLS
• 2026-05-05 Coming Soon $170,000 MiRealSource-MiMLS

Property tax history

+2.0%/yr

Latest (2025): $1,906 · +2.1% YoY. Source: county tax records.