26338 Wolverine St · Madison Heights, MI 48071

$166,000

4 bd · 1.5 ba · 2,156 sqft · SingleFamily public records · 50 Days on market

Built 1953 0.58 ac lot Est $261k · 36% under

---

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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 4-bedroom, 1.5-bathroom home in Madison Heights offers plenty of space and opportunity! The main floor features a living room, dining room, two bedrooms, and a full bathroom, while the upper level has two additional bedrooms. The full, partially finished basement includes a convenient half-bath and provides ample space for a recreation area, workshop, or extra storage. While the home could use some updates, it's full of potential and ready for the right buyer to make it their own. Easy online bidding process on the HUD website. How It Works: Bidding Opens 3/18/2026 Home Owner-Occupants, HUD-approved nonprofits, and government entities can bid only for the first 15 days. Days 1–10: HUD collects bids but doesn't look at them yet (they are sealed until the deadline) Day 11–15: Bids are opened and reviewed daily. After Day 15: If the home doesn't sell, it opens up to everyone - including investors. All bids must be submitted online through a HUD-registered broker. Equal Housing Opportunity. Insurable (IE). Case #: 2-6–1-9-3-0-9-3-2

Key facts

• 0.58 acre lot
• Built 1953
• Listed 50 days

Property features AI

Exterior

• Parking: Carport (no garage)
• Utilities: Public water available; Public sewer available
• Home design: Single-family residence; One-and-one-half levels; Ground-level entry with steps
• Construction: Aluminum and vinyl siding; Block foundation
• Exterior features: Paved road access; Lot approximately 0.58 acres (66 x 257)

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Full, partially finished basement; Seven total rooms

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $166k.

Deal economics

• At list price, monthly cash flow is $688 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $166k).
• Recommended offer: $161k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.3% vs local median 5.7% in Madison Heights — 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 (#62 in MI, #1,347 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D+, health & safety D.
• Madison District Public Schools (suburban): math 9% / reading 21% proficiency, ranked #502 of 540 in MI (top 93%) — 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 (+2.8%/yr); 135 active listings in the ZIP; 6 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).
• This rent runs 40% of the median local income ($70k/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.
• At projected returns (-3.0% appreciation + 2.8% rent growth), your $46k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($161k) is reasonable based on typical stale-listing flexibility.
• 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 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $161,020 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.39% ✓
• Cap rate: 11.27%
• Cash-on-cash: 17.76%
• DSCR: 1.79
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $260,876
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26346 Townley St	0.34mi	3/2.5 (-1)	2,036 (-6%)	9mo	$499,000	$245	58
822 Bernie Ln	0.71mi	3/2.0 (-1)	2,128 (-1%)	0mo	$210,000	$99	58
26446 Couzens Ave	0.12mi	3/2.0 (-1)	1,920 (-11%)	14mo	$200,000	$104	57
26730 Rialto St	0.28mi	3/1.0 (-1)	1,986 (-8%)	15mo	$240,000	$121	55
833 Bernie Ln	0.73mi	4/1.5	1,998 (-7%)	1mo	$235,000	$118	53
26734 Barrington St	0.73mi	3/2.0 (-1)	2,080 (-4%)	2mo	$295,000	$142	52
1842 Elizabeth Terrace Ter	0.47mi	4/2.0	2,027 (-6%)	18mo	$79,000	$39	51
26652 Groveland St	0.44mi	3/2.0 (-1)	1,912 (-11%)	7mo	$345,000	$180	48
27068 Hales St	0.41mi	3/2.5 (-1)	2,392 (+11%)	12mo	$270,000	$113	44
27365 Park Ct	0.54mi	3/2.5 (-1)	1,850 (-14%)	7mo	$264,000	$143	36
26612 Barrington St	0.72mi	3/2.5 (-1)	1,976 (-8%)	10mo	$247,000	$125	35
27741 Delton St	0.73mi	3/1.0 (-1)	1,884 (-13%)	9mo	$201,500	$107	30

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 · 2.81% rent growth · sell at horizon

5-year hold

• IRR: 9.1%
• Equity multiple: 1.36×
• Total profit: $16,512
• Equity at exit: $24,751

10-year hold

• IRR: 18.1%
• Equity multiple: 2.49×
• Total profit: $69,124
• Equity at exit: $14,353

Cash invested: $46,480 (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 48071

• Rents YoY: 2.8%
• Active inventory: 135
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $2,313 high
• Mortgage (P&I): −$871
• Tax from tax record: −$200 /mo · $2,397/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$486
• Net cashflow: $688

Break-even live

Break-even rent $1,442

Max offer price $166,000

Occupancy floor 65%

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: $41,500
• Closing costs: $4,980
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
959 E Shevlin Ave Hazel Park, MI	3.0	1.0	1419	$1,750	$1.23	14d	1	0.94mi
2630 Antonia Ln Warren, MI	3.0	1.5	2264	$1,900	$0.84	44d	1	0.94mi
1045 E 12 Mile Rd Madison Heights, MI	3.0	1.0	1700	$4,000	$2.35	1d	1	1.26mi
28222 Saint Louise Dr Warren, MI	3.0	2.0	1600	$5,500	$3.44	1d	1	1.30mi
2655 S Seaton Circuit St Warren, MI	3.0	1.5	1820	$1,650	$0.91	24d	1	1.39mi
642 Bellaire Ave Madison Heights, MI	3.0	2.5	1750	$2,423	$1.38	21d	1	1.40mi

Listing history 4 events

1. 2026-05-07
   status Pending

   Show marketing remark (1105 chars)

   This 4-bedroom, 1.5-bathroom home in Madison Heights offers plenty of space and opportunity! The main floor features a living room, dining room, two bedrooms, and a full bathroom, while the upper level has two additional bedrooms. The full, partially finished basement includes a convenient half-bath and provides ample space for a recreation area, workshop, or extra storage. While the home could use some updates, it's full of potential and ready for the right buyer to make it their own. Easy online bidding process on the HUD website. How It Works: Bidding Opens 3/18/2026 Home Owner-Occupants, HUD-approved nonprofits, and government entities can bid only for the first 15 days. Days 1–10: HUD collects bids but doesn't look at them yet (they are sealed until the deadline) Day 11–15: Bids are opened and reviewed daily. After Day 15: If the home doesn't sell, it opens up to everyone - including investors. All bids must be submitted online through a HUD-registered broker. Equal Housing Opportunity. Insurable (IE). Case #: 2-6–1-9-3-0-9-3-2

2. 2026-05-07
   status Pending 1105-char remark

   Show marketing remark (1105 chars)

   This 4-bedroom, 1.5-bathroom home in Madison Heights offers plenty of space and opportunity! The main floor features a living room, dining room, two bedrooms, and a full bathroom, while the upper level has two additional bedrooms. The full, partially finished basement includes a convenient half-bath and provides ample space for a recreation area, workshop, or extra storage. While the home could use some updates, it's full of potential and ready for the right buyer to make it their own. Easy online bidding process on the HUD website. How It Works: Bidding Opens 3/18/2026 Home Owner-Occupants, HUD-approved nonprofits, and government entities can bid only for the first 15 days. Days 1–10: HUD collects bids but doesn't look at them yet (they are sealed until the deadline) Day 11–15: Bids are opened and reviewed daily. After Day 15: If the home doesn't sell, it opens up to everyone - including investors. All bids must be submitted online through a HUD-registered broker. Equal Housing Opportunity. Insurable (IE). Case #: 2-6–1-9-3-0-9-3-2

3. 2026-03-18
   listed $166,000 Active

   Show marketing remark (1105 chars)

   This 4-bedroom, 1.5-bathroom home in Madison Heights offers plenty of space and opportunity! The main floor features a living room, dining room, two bedrooms, and a full bathroom, while the upper level has two additional bedrooms. The full, partially finished basement includes a convenient half-bath and provides ample space for a recreation area, workshop, or extra storage. While the home could use some updates, it's full of potential and ready for the right buyer to make it their own. Easy online bidding process on the HUD website. How It Works: Bidding Opens 3/18/2026 Home Owner-Occupants, HUD-approved nonprofits, and government entities can bid only for the first 15 days. Days 1–10: HUD collects bids but doesn't look at them yet (they are sealed until the deadline) Day 11–15: Bids are opened and reviewed daily. After Day 15: If the home doesn't sell, it opens up to everyone - including investors. All bids must be submitted online through a HUD-registered broker. Equal Housing Opportunity. Insurable (IE). Case #: 2-6–1-9-3-0-9-3-2

4. 2026-03-18
   listed $166,000 Active 1105-char remark

   Show marketing remark (1105 chars)

   This 4-bedroom, 1.5-bathroom home in Madison Heights offers plenty of space and opportunity! The main floor features a living room, dining room, two bedrooms, and a full bathroom, while the upper level has two additional bedrooms. The full, partially finished basement includes a convenient half-bath and provides ample space for a recreation area, workshop, or extra storage. While the home could use some updates, it's full of potential and ready for the right buyer to make it their own. Easy online bidding process on the HUD website. How It Works: Bidding Opens 3/18/2026 Home Owner-Occupants, HUD-approved nonprofits, and government entities can bid only for the first 15 days. Days 1–10: HUD collects bids but doesn't look at them yet (they are sealed until the deadline) Day 11–15: Bids are opened and reviewed daily. After Day 15: If the home doesn't sell, it opens up to everyone - including investors. All bids must be submitted online through a HUD-registered broker. Equal Housing Opportunity. Insurable (IE). Case #: 2-6–1-9-3-0-9-3-2

ⓘ 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: $2,397 · $200/mo
• Projected year-2 tax: $2,477 · $206/mo
• Expected delta: +$80/yr (+$7/mo · 3.3%)

ⓘ 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: $27,759
• − Mortgage interest: −$9,299
• − Property taxes: −$2,397
• − Insurance: −$830
• − Repairs & maintenance: −$2,221
• − Management: −$2,221
• − Depreciation: −$4,829
• Taxable income: $5,963
• Est. tax owed @ 24.0%: −$1,431
• After-tax cash flow: $6,825/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: Madison District Public Schools
• NCES district ID: 2622290
• Math proficiency: 9% ▼ -11.00%
• Reading proficiency: 21% ▼ -12.00%
• Median HH income: $41,297
• Composite: 12.89/100
• National rank: #9586
• State rank: #502 of 540 in MI

Livability — Madison Heights

• Score: 81/100
• State rank: #62
• US rank: #1347

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Madison Heights, MI
• County: Oakland County · 1,009,092 people
• City population: 28,419
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 28,419
• Household income: $69,503
• Rent vs Own: 35.2% rent · 64.8% own
• Severe rent burden: 786.0

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 (79%)
• Race & ethnicity: White 79% Black 7% Asian 7% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 11% Lithuanian 3% Slovak 2%
• Foreign-born: 14% · China, Canada, South Korea
• Languages at home: 84% English-only · Chinese 3% Other Indo-European 3% Arabic 2%

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: ▼ -275.69%
• Current HPI: 243.4861
• Rent YoY: ▲ 2.81%
• 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

4 events — show timeline

• 2026-05-07 Pending — REALCOMP
• 2026-05-07 Pending — MiRealSource-MiMLS
• 2026-03-18 Listed $166,000 REALCOMP
• 2026-03-18 Listed $166,000 MiRealSource-MiMLS

Property tax history

+2.7%/yr

Latest (2025): $2,397 · +30.0% YoY. Source: county tax records.