63 W Mahan Ave · Hazel Park, MI 48030

$179,900

3 bd · 1.0 ba · 1,524 sqft · SingleFamily public records · 4 Days on market

Built 1942 4,356 sqft lot Est $223k · 19% 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 +21.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +6.0/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Terrific North Hazel Park Home-- Updated 3 Bedroom Bungalow -- Light Filled Living Room & Kitchen with New Refrigerator & Stove also Dishwasher and Microwave, Generous Bedrooms, Renovated 1st Floor Full Bath and with Partially Finished Basement & Large 2 Car Garage, Garage Siding 2020 with New door and Opener. New Washer & Dryer, Laundry Tub-- Deep Basement ready to completely finish. Water Heater 2020 Make it Your Own New Home! * * Multiple offer deadline

Key facts

• 4,356 sq ft lot
• 2 garage spots
• Built 1942

Property features AI

Exterior

• Parking: Detached garage (22 x 24); Electric in garage; Garage door opener; 2 garage parking spaces
• Utilities: Public water; Natural gas service; Public sewer (implied by public water and typical utilities)
• Home design: Residential property; 1 1/2-story structure; Built in 1942; Basement foundation; Property allows pets; Subdivision: Buehler Farms; Frontage: 40 feet
• Construction: Aluminum and vinyl siding exterior
• Exterior features: Fenced yard; Patio; Paved street access

Interior

• Kitchen: Kitchen on the entry level (6 x 7); Dishwasher; Range/oven; Microwave; Refrigerator
• Bedrooms: Bedroom with 12 x 14 dimensions on the second level; Bedroom with 8 x 11 dimensions on the entry level; Bedroom (11' width) on the second level
• Flooring: Laminate in the living room; Concrete in the laundry room
• Bathrooms: One full bathroom (11 x 7) on the entry level
• Heating & cooling: Natural gas heating; Forced air heat; Ceiling fan(s) for cooling; Gas water heater
• Interior features: Total of 8 rooms; Partially finished basement
• Laundry & utility: Washer; Dryer; Basement laundry room (10 x 10) with concrete floor

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $271 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Cap rate 8.1% vs local median 6.2% in Hazel 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 81/100 on livability (#65 in MI, #1,385 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+, 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 (+2.9%/yr); 135 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).
• This rent runs 35% of the median local income ($67k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 11 sale attempts since 28y ago; this cycle's ask is 44% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $140k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $179,900

Questions for the listing agent

1. Built in 1942 — 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: 1.10% ✓
• Cap rate: 8.10%
• Cash-on-cash: 6.46%
• DSCR: 1.29
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $222,504
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
568 E Coy Ave	0.33mi	3/2.5	1,466 (-4%)	2mo	$302,000	$206	70
561 Andresen Ct	0.43mi	3/2.0	1,483 (-3%)	2mo	$219,900	$148	70
644 E Brickley Ave	0.39mi	2/1.0 (-1)	1,422 (-7%)	0mo	$155,000	$109	66
2406 Brickley St	0.46mi	3/1.0	1,392 (-9%)	1mo	$220,000	$158	64
2298 Browning St	0.51mi	4/2.0 (+1)	1,557 (+2%)	0mo	$185,000	$119	63
550 E Mapledale Ave	0.36mi	3/1.0	1,703 (+12%)	6mo	$249,000	$146	59
2333 Barrett Ave	0.56mi	3/2.0	1,420 (-7%)	2mo	$350,000	$246	57
23776 Vassar Ave	0.71mi	3/1.0	1,432 (-6%)	2mo	$191,750	$134	55
975 E Barrett Ave	0.63mi	3/2.0	1,360 (-11%)	4mo	$195,000	$143	46
2309 Dallas Ave	0.63mi	3/2.0	1,743 (+14%)	7mo	$227,250	$130	37
3323 Kenwood St	0.74mi	2/1.0 (-1)	1,711 (+12%)	7mo	$140,000	$82	34
804 E Lincoln Ave	0.69mi	4/2.0 (+1)	1,346 (-12%)	7mo	$250,000	$186	34

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 · 2.9% rent growth · sell at horizon

5-year hold

• IRR: -6.4%
• Equity multiple: 0.76×
• Total profit: $-12,031
• Equity at exit: $26,824

10-year hold

• IRR: 3.1%
• Equity multiple: 1.22×
• Total profit: $11,167
• Equity at exit: $15,554

Cash invested: $50,372 (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 48030

• Rents YoY: 2.9%
• Active inventory: 135
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,970 high
• Mortgage (P&I): −$943
• Tax from tax record: −$267 /mo · $3,206/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $271

Break-even live

Break-even rent $1,627

Max offer price $179,900

Occupancy floor 81%

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
322 Jeff Keeton Dr Hazel Park, MI	2.0	2.5	1334	$2,350	$1.76	1d	1	0.45mi
691 E Mapledale Ave Hazel Park, MI	2.0	1.0	1333	$1,500	$1.13	10d	1	0.46mi
959 E Shevlin Ave Hazel Park, MI	3.0	1.0	1419	$1,750	$1.23	14d	1	0.52mi
2420 Woodward Hts Ferndale, MI	3.0	1.0	1316	$2,200	$1.67	24d	1	0.56mi
2181 Coy St Ferndale, MI	3.0	1.0	1050	$1,995	$1.90	10d	1	0.59mi
2186 Garfield St Ferndale, MI	3.0	1.0	1300	$1,750	$1.35	24d	1	0.60mi
23400 Reynolds Ave Hazel Park, MI	3.0	1.0	1305	$1,900	$1.46	4d	1	0.74mi
1816 Guthrie Ave Royal Oak, MI	3.0	1.0	1100	$1,800	$1.64	4d	1	0.83mi
23304 Cayuga Ave Hazel Park, MI	4.0	2.0	1540	$2,150	$1.40	24d	1	0.92mi
25151 Dequindre Rd Madison Heights, MI	3.0	2.0	1088	$1,279	$1.18	23d	1	1.04mi
1201 Woodward Hts Ferndale, MI	2.0	2.0	1200	$2,045	$1.70	24d	1	1.06mi
2803 Grayson St Ferndale, MI	3.0	2.0	1274	$2,000	$1.57	43d	1	1.08mi
1820 E Troy St Ferndale, MI	3.0	1.0	1167	$1,500	$1.29	4d	1	1.08mi
1414 Owana Ave Royal Oak, MI	3.0	1.0	1489	$1,675	$1.12	21d	1	1.17mi
2705 Inman St Ferndale, MI	3.0	2.5	1429	$3,195	$2.24	1d	1	1.26mi
1600 E 4th St Royal Oak, MI	3.0	1.0	1166	$3,200	$2.74	12d	1	1.30mi

Listing history 5 events

1. 2026-06-08
   status $179,900 Pending 4 DOM
2. 2026-06-07
   days on market $179,900 Active 4 DOM
3. 2026-06-04
   statuslisting id $179,900 Active 1 DOM
4. 2026-06-02
   remarks 699-char remark
5. 2026-06-02
   listed $179,900 Coming Soon 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: $3,206 · $267/mo
• Projected year-2 tax: $3,206 · $267/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: $23,644
• − Mortgage interest: −$10,077
• − Property taxes: −$3,206
• − Insurance: −$900
• − Repairs & maintenance: −$1,892
• − Management: −$1,892
• − Depreciation: −$5,233
• Taxable income: $445
• Est. tax owed @ 24.0%: −$107
• After-tax cash flow: $3,146/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 — Hazel Park

• Score: 81/100
• State rank: #65
• US rank: #1385

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hazel Park, MI
• County: Oakland County · 1,009,092 people
• City population: 14,963
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 14,963
• Household income: $67,073
• Rent vs Own: 33.9% rent · 66.1% own
• Severe rent burden: 432.0

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 (74%)
• Race & ethnicity: White 74% Two or more races 10% Black 10% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Romanian 11% Slovak 3% Lithuanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 5% Arabic 1% Russian/Polish/Slavic 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: ▼ -184.32%
• Current HPI: 285.5923
• Rent YoY: ▲ 2.90%
• 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

+822.6% since first listed

33 events — show timeline

• 2026-06-02 Coming Soon $179,900 MiRealSource-MiMLS
• 2021-05-11 Sold (Public Records) $140,000 Public Records
• 2021-04-28 Sold (MLS) $140,000 MiRealSource-MiMLS
• 2021-04-28 Sold (MLS) $140,000 REALCOMP
• 2021-03-23 Pending — MiRealSource-MiMLS
• 2021-03-23 Pending — REALCOMP
• 2021-03-17 Listed $124,500 MiRealSource-MiMLS
• 2021-03-17 Listed $124,500 REALCOMP
• 2014-10-03 Sold (MLS) $850 MiRealSource-MiMLS
• 2014-09-17 Listing Removed — MiRealSource-MiMLS
• 2014-05-07 Listed $850 MiRealSource-MiMLS
• 2007-07-30 Listing Removed — REALCOMP
• 2007-07-30 Listing Removed — MiRealSource-MiMLS
• 2007-05-07 Listing Removed — REALCOMP
• 2007-05-07 Listing Removed — MiRealSource-MiMLS
• 2007-05-07 Listed $109,850 REALCOMP
• 2007-05-07 Listed $109,850 MiRealSource-MiMLS
• 2006-12-14 Listed $118,500 REALCOMP
• 2006-12-14 Listed $118,500 MiRealSource-MiMLS
• 2004-02-06 Sold (Public Records) $110,300 Public Records
• 2004-01-12 Sold (MLS) $111,000 REALCOMP
• 2004-01-12 Sold (MLS) $111,000 MiRealSource-MiMLS
• 2004-01-05 Listing Removed — MiRealSource-MiMLS
• 2003-10-07 Listed $109,900 REALCOMP
• 2003-10-07 Listed $109,900 MiRealSource-MiMLS
• 2003-10-06 Listing Removed — REALCOMP
• 2003-08-25 Listed $119,900 REALCOMP
• 1998-10-07 Sold (MLS) $84,000 MiRealSource-MiMLS
• 1998-10-06 Listing Removed — MiRealSource-MiMLS
• 1998-08-20 Sold (Public Records) $86,000 Public Records
• 1998-04-13 Listed $85,000 MiRealSource-MiMLS
• 1994-03-14 Sold (Public Records) $49,000 Public Records
• 1973-10-01 Sold (Public Records) $19,500 Public Records

Property tax history

+5.7%/yr

Latest (2025): $3,206 · +1.9% YoY. Source: county tax records.