1915 Symes St · Ferndale, MI 48220

$185,000

3 bd · 1.0 ba · 980 sqft · SingleFamily public records · 14 Days on market

Built 1959 Est $243k · 24% 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).

• ARV discount +15.0/15.0
• Cash flow +14.8/30.0
• 1% rule +4.6/10.0
• DSCR +4.5/10.0
• 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

& quot; & quot; This home is being sold as is. The roof was done in 2017. (Tree is no longer there pictures are from 2018) Please call number and leave a message [phone] to request a showing. Thank you& quot; & quot; & quot; & quot; & quot; & quot;

Key facts

• Built 1959
• Listed 14 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $51 ($609/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 $177k (4.2% below list).
• Recommended offer: $177k (4.2% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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+.
• 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.
• Zoned schools: Hazel Park Junior High School (math 11% / reading 30%, grade F, #418 of 493 statewide, top 85%, 430 students, 78% FRL); Hazel Park High School (math 12% / reading 27%, grade F, #622 of 713 statewide, top 88%, 587 students, 73% FRL).
• Market conditions: Rents rising fast (+6.2%/yr); 179 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 $6k 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 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $135k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $177,197 (4.2% below list)

Questions for the listing agent

1. Built in 1959 — 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: 0.96% ✗
• Cap rate: 6.62%
• Cash-on-cash: 1.18%
• DSCR: 1.05
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $243,040
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1220 Orchard St	0.27mi	3/1.0	928 (-5%)	1mo	$269,900	$291	78
2171 Chestnut St	0.41mi	3/1.0	967 (-1%)	2mo	$240,000	$248	77
1130 E Breckenridge St	0.22mi	2/1.0 (-1)	1,062 (+8%)	2mo	$135,000	$127	69
791 Wordsworth St	0.60mi	3/1.0	1,006 (+3%)	2mo	$240,000	$239	66
2000 Moorhouse St	0.54mi	2/1.0 (-1)	998 (+2%)	1mo	$132,500	$133	66
535 E Lewiston Ave	0.69mi	3/1.0	1,000 (+2%)	2mo	$220,000	$220	63
1939 Bonner St	0.15mi	2/1.0 (-1)	833 (-15%)	1mo	$219,000	$263	62
486 University St	0.55mi	3/2.0	1,054 (+8%)	1mo	$307,000	$291	57
1516 Browning St	0.63mi	4/1.0 (+1)	1,072 (+9%)	1mo	$275,000	$257	49
2850 Wolcott St	0.74mi	3/1.0	880 (-10%)	1mo	$199,900	$227	48
416 E Breckenridge St	0.67mi	2/1.0 (-1)	1,101 (+12%)	1mo	$295,000	$268	42
2723 Wolcott St	0.70mi	2/1.0 (-1)	1,098 (+12%)	0mo	$252,000	$230	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: -10.6%
• Equity multiple: 0.60×
• Total profit: $-20,710
• Equity at exit: $27,584

10-year hold

• IRR: 2.9%
• Equity multiple: 1.24×
• Total profit: $12,575
• Equity at exit: $15,995

Cash invested: $51,800 (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: 179
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,772 high
• Mortgage (P&I): −$970
• Tax from tax record: −$302 /mo · $3,622/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $51

Break-even live

Break-even rent $1,708

Max offer price $185,000

Occupancy floor 92%

Sensitivity live

Price	-10% $156	-5% $103	+0% $51	+5% $-2	+10% $-54
Rent	-10% $-89	-5% $-19	+0% $51	+5% $121	+10% $191
Rate	-1.0pp $144	-0.5pp $98	base $51	+0.5pp $3	+1.0pp $-46

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2033 Wrenson St Ferndale, MI	3.0	1.0	816	$1,675	$2.05	0d	1	0.17mi
2023 Ardmore Dr Ferndale, MI	2.0	1.0	771	$1,250	$1.62	26d	1	0.38mi
266 W Goulson Ave Hazel Park, MI	3.0	1.0	942	$1,600	$1.70	23d	1	0.53mi
552 E Saratoga St Unit Upper Unit Ferndale, MI	2.0	1.0	700	$1,300	$1.86	26d	1	0.54mi
425 Vester St Unit A Ferndale, MI	2.0	1.0	525	$1,349	$2.57	6d	1	0.55mi
501 E Breckenridge St Ferndale, MI	3.0	1.0	946	$1,800	$1.90	26d	1	0.58mi
1800 Browning St Ferndale, MI	2.0	1.0	809	$1,600	$1.98	6d	1	0.60mi
2215 Browning St Ferndale, MI	2.0	1.0	739	$1,350	$1.83	6d	1	0.63mi
453 E Cambourne St Unit 1 Ferndale, MI	2.0	1.0	1000	$2,500	$2.50	4d	1	0.65mi
455 E Cambourne St Unit 2 Ferndale, MI	2.0	1.0	900	$2,400	$2.67	4d	1	0.66mi
400 E Cambourne St Unit 1 Ferndale, MI	2.0	1.0	1000	$1,400	$1.40	12d	1	0.72mi
790 Jewell St Ferndale, MI	2.0	1.0	800	$1,445	$1.81	26d	1	0.78mi
90 W Meyers Ave Hazel Park, MI	2.0	1.0	831	$1,800	$2.17	26d	1	0.78mi
2181 Coy St Ferndale, MI	3.0	1.0	1050	$1,995	$1.90	12d	1	0.82mi
1561 E Webster St Ferndale, MI	2.0	1.0	939	$1,600	$1.70	26d	1	0.88mi
22111 Woodward Ave Ferndale, MI	2.0	1.0	816	$3,355	$4.11	18d	1	0.90mi
23115 Tawas Ave Hazel Park, MI	2.0	1.0	706	$1,375	$1.95	26d	1	0.97mi
23345 Tawas Ave Hazel Park, MI	3.0	1.0	1000	$1,550	$1.55	12d	1	0.98mi
23773 Hazelwood Ave Hazel Park, MI	2.0	1.0	671	$1,400	$2.09	14d	1	0.98mi
224 Fielding St Ferndale, MI	2.0	1.0	1000	$1,800	$1.80	26d	1	1.03mi
226 Fielding St Ferndale, MI	2.0	1.0	1000	$1,500	$1.50	26d	1	1.03mi
901 Saint Louis St Ferndale, MI	2.0	1.0	800	$1,395	$1.74	45d	1	1.04mi
901 Saint Louis St Unit 901-02 Ferndale, MI	2.0	1.0	800	$1,395	$1.74	26d	1	1.04mi
1816 Guthrie Ave Royal Oak, MI	3.0	1.0	1100	$1,800	$1.64	6d	1	1.07mi
155 W George Ave Hazel Park, MI	2.0	1.0	725	$1,000	$1.38	26d	1	1.10mi
430 W 9 Mile Rd Ferndale, MI	1.0–2.0	2.0	826	$2,827	$3.42	0d	2	1.16mi
353 W Webster St Ferndale, MI	2.0	1.0	900	$1,525	$1.69	18d	1	1.17mi
429 E Milton Ave Hazel Park, MI	3.0	2.0	1075	$1,595	$1.48	1d	1	1.17mi
407 E Hayes Ave Hazel Park, MI	3.0	1.0	1000	$1,750	$1.75	26d	1	1.19mi
1045 E Woodward Heights Blvd Hazel Park, MI	1.0–2.0	1.0	715	$1,209	$1.69	26d	3	1.23mi
851 Gardendale St Ferndale, MI	2.0	1.0	933	$1,625	$1.74	26d	1	1.30mi
1019 E Hayes Ave Unit 1032331P Hazel Park, MI	3.0	1.0	1033	$5,281	$5.11	0d	1	1.45mi
328 W Kalama Ave Madison Heights, MI	3.0	1.0	900	$1,575	$1.75	6d	1	1.46mi
1326 E Evelyn Ave Unit 1032332P Hazel Park, MI	3.0	2.0	1097	$6,448	$5.88	0d	1	1.47mi
1211 E Bernhard Ave Hazel Park, MI	2.0	1.0	721	$1,500	$2.08	26d	1	1.48mi
695 Livernois St Unit 2 Ferndale, MI	2.0	1.0	950	$2,350	$2.47	6d	1	1.50mi

Listing history 2 events

1. 2026-05-12
   listed $185,000 Active
2. 2018-12-12
   soldstatus $135,000

ⓘ 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: $3,622 · $302/mo
• Projected year-2 tax: $3,622 · $302/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: $21,264
• − Mortgage interest: −$10,363
• − Property taxes: −$3,622
• − Insurance: −$925
• − Repairs & maintenance: −$1,701
• − Management: −$1,701
• − Depreciation: −$5,382
• Taxable loss: −$2,430
• Est. tax savings @ 24.0%: +$583
• After-tax cash flow: $1,193/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

+37.0% since first listed

2 events — show timeline

• 2026-05-12 Listed $185,000 FSBO.com
• 2018-12-12 Sold (Public Records) $135,000 Public Records

Property tax history

+8.2%/yr

Latest (2025): $3,622 · +2.1% YoY. Source: county tax records.