561 Bennett Ave · Ferndale, MI 48220

$154,900

3 bd · 1.0 ba · 840 sqft · SingleFamily public records · 6 Days on market

Built 1953 5,227 sqft lot Est $192k · 19% under

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Why this score? — see what drove the D+ 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 +11.1/30.0
• 1% rule +5.8/10.0
• Livability +4.5/5.0
• Rent growth +4.1/5.0
• DSCR +3.2/10.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming ranch home on a quiet street, close to downtown Ferndale. Inside, you'll find a bright, open layout that connects the living room and kitchen, perfect for everyday living and entertaining. The kitchen features granite countertops and includes a stove, refrigerator, washer, and dryer. Freshly painted and professionally cleaned throughout, this home is truly move-in ready. The home offers three spacious bedrooms with great natural light and easy access to the full bath. Hardwood and ceramic tile floors provide a clean, timeless look throughout. Enjoy a private backyard ideal for relaxing, entertaining, or letting pets play. A large covered front porch adds a welcoming touch, perfect for morning coffee or connecting with neighbors. A detached 1-car garage adds convenience, and with shopping and freeway access nearby, everything you need is within easy reach. Property taxes are expected to decrease once the homestead exemption is in place. Just move in, make it yours, and enjoy.

Key facts

• Private backyard
• Open layout
• Shopping nearby

Tags

• OPEN LAYOUT
• GRANITE COUNTERTOPS
• PRIVATE BACKYARD
• LARGE COVERED FRONT PORCH
• DETACHED GARAGE
• SHOPPING NEARBY

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family residence; One level; Ground-level entry with steps
• Construction: Aluminum siding; Asphalt roof; Slab foundation; Built area above grade: 840 square feet
• Exterior features: Paved road access; Lot approximately 0.12 acres (50 x 105)

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: 6 total rooms (bedrooms not separately specified)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Gas water heater; Free-standing gas range; Free-standing refrigerator
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $-62 ($-750/yr) — negative.
• To cash-flow at today's rent, offer at most $144k (7.1% below list).
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $144k (7.1% below list) — sets the bar for cash-flow.
• Cap rate 5.8% vs local median 4.5% in Ferndale — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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+.
• 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); 180 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 22 sale attempts since 21y 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 4.0% of price; built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $143,862 (7.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 1.08% ✓
• Cap rate: 5.81%
• Cash-on-cash: -1.73%
• DSCR: 0.92
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $192,360
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
541 E Bennett Ave	0.01mi	3/1.0	844 (+0%)	7mo	$165,000	$195	93
601 E Webster St	0.15mi	3/1.0	854 (+2%)	12mo	$217,000	$254	80
246 E Chesterfield St	0.17mi	3/1.0	926 (+10%)	9mo	$185,000	$200	67
404 W Chesterfield St	0.51mi	2/1.0 (-1)	857 (+2%)	1mo	$215,000	$251	67
1491 E Webster St	0.47mi	3/1.0	908 (+8%)	2mo	$180,000	$198	63
507 Spencer St	0.22mi	3/1.0	935 (+11%)	11mo	$214,000	$229	62
364 Channing St	0.43mi	2/1.0 (-1)	800 (-5%)	7mo	$200,000	$250	61
1449 Jewell St	0.49mi	2/1.0 (-1)	731 (-13%)	1mo	$168,000	$230	50
1811 E Marshall St	0.69mi	2/1.0 (-1)	776 (-8%)	5mo	$162,500	$209	46
364 W Muir Ave	0.62mi	2/1.0 (-1)	745 (-11%)	9mo	$80,000	$107	40
1824 Wordsworth St	0.64mi	2/1.0 (-1)	725 (-14%)	8mo	$182,000	$251	36
431 W Madge Ave	0.68mi	2/1.0 (-1)	744 (-11%)	11mo	$105,000	$141	35

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: -14.4%
• Equity multiple: 0.46×
• Total profit: $-23,207
• Equity at exit: $23,096

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $358
• Equity at exit: $13,393

Cash invested: $43,372 (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 48220

• Rents YoY: 6.2%
• Active inventory: 180
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,679 high
• Mortgage (P&I): −$812
• Tax from tax record: −$512 /mo · $6,148/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $-62

Break-even live

Break-even rent $1,758

Max offer price $143,862

Occupancy floor 99%

Sensitivity live

Price	-10% $25	-5% $-19	+0% $-62	+5% $-106	+10% $-150
Rent	-10% $-195	-5% $-129	+0% $-62	+5% $4	+10% $70
Rate	-1.0pp $16	-0.5pp $-23	base $-62	+0.5pp $-103	+1.0pp $-143

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
790 Jewell St Ferndale, MI	2.0	1.0	800	$1,445	$1.81	25d	1	0.27mi
224 Fielding St Ferndale, MI	2.0	1.0	1000	$1,800	$1.80	25d	1	0.48mi
226 Fielding St Ferndale, MI	2.0	1.0	1000	$1,500	$1.50	25d	1	0.48mi
1561 E Webster St Ferndale, MI	2.0	1.0	939	$1,600	$1.70	25d	1	0.52mi
1291 W State Fair Ave Detroit, MI	1.0–2.0	1.0	700	$950	$1.36	13d	2	0.55mi
353 W Webster St Ferndale, MI	2.0	1.0	900	$1,525	$1.69	17d	1	0.57mi
155 W George Ave Hazel Park, MI	2.0	1.0	725	$1,000	$1.38	25d	1	0.72mi
20643 Stratford Rd Unit 1 Detroit, MI	2.0	1.5	1000	$1,250	$1.25	44d	1	0.86mi
901 Saint Louis St Ferndale, MI	2.0	1.0	800	$1,395	$1.74	44d	1	0.87mi
901 Saint Louis St Unit 901-02 Ferndale, MI	2.0	1.0	800	$1,395	$1.74	25d	1	0.87mi
22111 Woodward Ave Ferndale, MI	2.0	1.0	816	$3,355	$4.11	17d	1	0.88mi
552 E Saratoga St Unit Upper Unit Ferndale, MI	2.0	1.0	700	$1,300	$1.86	25d	1	0.90mi
20129 Stratford Rd Unit 2 Detroit, MI	2.0	1.0	1100	$1,223	$1.11	25d	1	0.92mi
90 W Meyers Ave Hazel Park, MI	2.0	1.0	831	$1,800	$2.17	25d	1	0.93mi
2023 Ardmore Dr Ferndale, MI	2.0	1.0	771	$1,250	$1.62	25d	1	0.96mi
407 E Hayes Ave Hazel Park, MI	3.0	1.0	1000	$1,750	$1.75	25d	1	1.00mi
429 E Milton Ave Hazel Park, MI	3.0	2.0	1075	$1,595	$1.48	0d	1	1.03mi
425 Vester St Unit A Ferndale, MI	2.0	1.0	525	$1,349	$2.57	6d	1	1.09mi
266 W Goulson Ave Hazel Park, MI	3.0	1.0	942	$1,600	$1.70	23d	1	1.11mi
851 Gardendale St Ferndale, MI	2.0	1.0	933	$1,625	$1.74	25d	1	1.12mi
19703 Keating St Highland Park, MI	3.0	1.0	1000	$1,200	$1.20	17d	1	1.14mi
501 E Breckenridge St Ferndale, MI	3.0	1.0	946	$1,800	$1.90	25d	1	1.17mi
2033 Wrenson St Ferndale, MI	3.0	1.0	816	$1,675	$2.05	0d	1	1.19mi
695 Livernois St Unit 2 Ferndale, MI	2.0	1.0	950	$2,350	$2.47	5d	1	1.22mi
510 Stratford Rd Ferndale, MI	2.0	1.0	965	$1,750	$1.81	44d	1	1.22mi
453 E Cambourne St Unit 1 Ferndale, MI	2.0	1.0	1000	$2,500	$2.50	4d	1	1.25mi
455 E Cambourne St Unit 2 Ferndale, MI	2.0	1.0	900	$2,400	$2.67	4d	1	1.25mi
400 E Cambourne St Unit 1 Ferndale, MI	2.0	1.0	1000	$1,400	$1.40	12d	1	1.25mi
20038 Santa Rosa Dr Detroit, MI	3.0	1.0	927	$1,300	$1.40	18d	1	1.29mi
578 Kensington Ave Ferndale, MI	2.0	1.0	860	$1,600	$1.86	6d	1	1.29mi
1019 E Hayes Ave Unit 1032331P Hazel Park, MI	3.0	1.0	1033	$5,281	$5.11	0d	1	1.35mi
430 W 9 Mile Rd Ferndale, MI	1.0–2.0	2.0	826	$2,827	$3.42	0d	2	1.38mi
404 W Golden Gate Highland Park, MI	2.0	1.0	1050	$1,100	$1.05	44d	1	1.39mi
406 W Goldengate St Detroit, MI	2.0	1.0	1050	$1,100	$1.05	44d	1	1.40mi
1211 E Bernhard Ave Hazel Park, MI	2.0	1.0	721	$1,500	$2.08	25d	1	1.46mi

Listing history 5 events

1. 2026-06-21
   days on market $154,900 Active 6 DOM
2. 2026-06-18
   days on market $154,900 Active 3 DOM
3. 2026-06-17
   days on market $154,900 Active 2 DOM
4. 2026-06-15
   remarks 693-char remark

   Show marketing remark (998 chars)

   Charming ranch home on a quiet street, close to downtown Ferndale. Inside, you'll find a bright, open layout that connects the living room and kitchen, perfect for everyday living and entertaining. The kitchen features granite countertops and includes a stove, refrigerator, washer, and dryer. Freshly painted and professionally cleaned throughout, this home is truly move-in ready. The home offers three spacious bedrooms with great natural light and easy access to the full bath. Hardwood and ceramic tile floors provide a clean, timeless look throughout. Enjoy a private backyard ideal for relaxing, entertaining, or letting pets play. A large covered front porch adds a welcoming touch, perfect for morning coffee or connecting with neighbors. A detached 1-car garage adds convenience, and with shopping and freeway access nearby, everything you need is within easy reach. Property taxes are expected to decrease once the homestead exemption is in place. Just move in, make it yours, and enjoy.

5. 2026-06-15
   listed $154,900 Active 1 DOM

   Show marketing remark (998 chars)

   Charming ranch home on a quiet street, close to downtown Ferndale. Inside, you'll find a bright, open layout that connects the living room and kitchen, perfect for everyday living and entertaining. The kitchen features granite countertops and includes a stove, refrigerator, washer, and dryer. Freshly painted and professionally cleaned throughout, this home is truly move-in ready. The home offers three spacious bedrooms with great natural light and easy access to the full bath. Hardwood and ceramic tile floors provide a clean, timeless look throughout. Enjoy a private backyard ideal for relaxing, entertaining, or letting pets play. A large covered front porch adds a welcoming touch, perfect for morning coffee or connecting with neighbors. A detached 1-car garage adds convenience, and with shopping and freeway access nearby, everything you need is within easy reach. Property taxes are expected to decrease once the homestead exemption is in place. Just move in, make it yours, and enjoy.

ⓘ 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: $6,148 · $512/mo
• Projected year-2 tax: $6,148 · $512/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 · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,152
• − Mortgage interest: −$8,677
• − Property taxes: −$6,148
• − Insurance: −$774
• − Repairs & maintenance: −$1,612
• − Management: −$1,612
• − Depreciation: −$4,506
• Taxable loss: −$3,177
• Est. tax savings @ 24.0%: +$763
• After-tax cash flow: $13/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 — 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

+659.3% since first listed

65 events — show timeline

• 2026-06-15 Listed $154,900 REALCOMP
• 2026-06-15 Listed $154,900 MiRealSource-MiMLS
• 2025-10-07 Rental Removed $1,500 REALSOURCE
• 2025-10-06 Listing Removed — MiRealSource-MiMLS
• 2025-10-06 Listing Removed — REALCOMP
• 2025-09-26 Price Changed $1,500 REALSOURCE
• 2025-09-16 Listed $149,900 REALCOMP
• 2025-09-16 Listing Removed — MiRealSource-MiMLS
• 2025-09-16 Listing Removed — REALCOMP
• 2025-09-16 Listed $149,900 MiRealSource-MiMLS
• 2025-09-11 Price Changed $1,545 REALSOURCE
• 2025-08-15 Listed for Rent $1,595 REALSOURCE
• 2025-07-31 Price Changed $159,900 MiRealSource-MiMLS
• 2025-07-31 Price Changed $159,900 REALCOMP
• 2025-06-16 Listed $169,900 REALCOMP
• 2025-06-16 Listing Removed — MiRealSource-MiMLS
• 2025-06-16 Listing Removed — REALCOMP
• 2025-06-16 Listed $169,900 MiRealSource-MiMLS
• 2025-05-22 Listed $179,900 REALCOMP
• 2025-05-22 Listed $179,900 MiRealSource-MiMLS
• 2022-08-24 Sold (MLS) $140,000 MiRealSource-MiMLS
• 2022-08-24 Sold (MLS) $140,000 REALCOMP
• 2022-08-04 Pending — MiRealSource-MiMLS
• 2022-08-04 Pending — REALCOMP
• 2022-07-22 Price Changed $155,000 MiRealSource-MiMLS
• 2022-07-22 Price Changed $155,000 REALCOMP
• 2022-07-09 Price Changed $169,000 MiRealSource-MiMLS
• 2022-07-09 Price Changed $169,000 REALCOMP
• 2022-06-25 Listed $174,500 MiRealSource-MiMLS
• 2022-06-25 Coming Soon $174,500 MiRealSource-MiMLS
• 2022-06-25 Listed $174,500 MiRealSource-MiMLS
• 2022-06-25 Listed $174,500 REALCOMP
• 2022-06-24 Coming Soon $174,500 MiRealSource-MiMLS
• 2022-06-24 Coming Soon $174,500 REALCOMP
• 2021-04-17 Listing Removed — REALCOMP
• 2021-04-17 Listing Removed — MiRealSource-MiMLS
• 2021-03-25 Listed $165,000 MiRealSource-MiMLS
• 2021-03-25 Listed $165,000 REALCOMP
• 2021-03-18 Coming Soon — MiRealSource-MiMLS
• 2021-03-18 Coming Soon — REALCOMP
• 2017-07-07 Sold (Public Records) $85,000 Public Records
• 2017-03-21 Listing Removed — REALCOMP
• 2017-03-13 Pending — MiRealSource-MiMLS
• 2017-03-13 Pending — REALCOMP
• 2017-03-13 Listing Removed — MiRealSource-MiMLS
• 2016-12-28 Relisted — MiRealSource-MiMLS
• 2016-12-28 Relisted — REALCOMP
• 2016-12-02 Listing Removed — REALCOMP
• 2016-12-02 Listing Removed — MiRealSource-MiMLS
• 2016-11-12 Price Changed $88,500 MiRealSource-MiMLS
• 2016-11-11 Price Changed $88,500 REALCOMP
• 2016-10-12 Listed $95,000 MiRealSource-MiMLS
• 2016-10-12 Listed $95,000 REALCOMP
• 2007-04-20 Listing Removed — MiRealSource-MiMLS
• 2007-04-18 Listing Removed — REALCOMP
• 2006-04-20 Listed $86,990 MiRealSource-MiMLS
• 2006-04-18 Listed $86,990 REALCOMP
• 2006-01-13 Listing Removed — MiRealSource-MiMLS
• 2006-01-13 Listing Removed — REALCOMP
• 2005-06-23 Listed $84,950 MiRealSource-MiMLS
• 2005-06-23 Listed $84,950 REALCOMP
• 1996-11-22 Sold (Public Records) $57,900 Public Records
• 1995-12-08 Sold (Public Records) $21,000 Public Records
• 1991-06-10 Sold (Public Records) $34,900 Public Records
• 1973-06-01 Sold (Public Records) $20,400 Public Records

Property tax history

+10.4%/yr

Latest (2025): $6,148 · +1.7% YoY. Source: county tax records.