27483 Norma Dr · Warren, MI 48093

$224,900

3 bd · 2.0 ba · 1,845 sqft · SingleFamily public records · 60 Days on market

Built 1960 8,276 sqft lot $122/sqft · 8% above area Est $273k · 18% under ↓ 8% since listing

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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 +12.7/30.0
• DSCR +3.8/10.0
• 1% rule +3.7/10.0
• Livability +3.7/5.0
• Rent growth +3.1/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 27483 Norma Drive! This spacious 3-bedroom, 2-bath quad-level brick home is on desirable corner lot in Warren offering 1,845 SQFT and tons of potential. This home is excellent opportunity for buyers or investors looking to customize a home to their taste. The layout features both a living room and sunroom, a primary bedroom with an ensuite, hardwood floors, and abundant natural light. Major mechanical items have already been addressed, including a brand-new furnace, vinyl/aluminum windows, and a roof estimated to be about 5 years old. Outside, the property includes a newer driveway, detached 2-car garage with garage door access to the backyard, and a fenced-in yard. The backyard also features an inground 220-gallon pool, currently covered but fully functional. One of the largest homes on the street, offering significant upside and value-add potential for a flip, rental, or personalized renovation! Sold as-is. BTVAI.

Key facts

• Ensuite
• Natural light
• Sunroom

Tags

• CORNER LOT
• SUNROOM
• ENSUITE
• HARDWOOD FLOORS
• NATURAL LIGHT
• BRAND-NEW FURNACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $-25 ($-304/yr) — negative.
• To cash-flow at today's rent, offer at most $220k (2.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $195k (13.4% below list).
• Recommended offer: $195k (13.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 74/100 on livability (#171 in MI, #4,491 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D, amenities D, employment D.
• Warren Woods Public Schools (urban): math 23% / reading 40% proficiency, ranked #336 of 540 in MI (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.5%/yr); 128 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 1,321 units permitted in Macomb County in 2024 (86 in 5+ unit buildings).
• This rent runs 34% of the median local income ($68k/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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Macomb County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 4 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.

Recommended offer $194,849 (13.4% 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. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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?
8. 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.
9. 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.
10. 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: 0.87% ✗
• Cap rate: 6.16%
• Cash-on-cash: -0.48%
• DSCR: 0.98
• GRM: 9.6

CMA / ARV

• ARV (median comp): $272,981
• List price: $224,900
• Delta: -17.61%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
27471 Norma Dr	0.01mi	3/1.5	1,682 (-9%)	1mo	$269,000	$160	82
27881 Wagner Ave	0.31mi	3/2.5	1,815 (-2%)	6mo	$277,585	$153	76
26627 Norma St	0.35mi	3/2.0	1,739 (-6%)	1mo	$235,000	$135	73
26658 Norma Ave	0.33mi	3/1.5	2,010 (+9%)	0mo	$240,000	$119	67
26632 Marilyn Ave	0.40mi	3/1.5	1,986 (+8%)	4mo	$186,500	$94	64
26628 Richard Dr	0.66mi	3/1.0	1,800 (-2%)	2mo	$220,000	$122	59
11480 Hanford Dr	0.50mi	3/2.0	2,048 (+11%)	1mo	$222,000	$108	58
26230 Bonnie Ave	0.57mi	3/1.5	2,000 (+8%)	2mo	$243,000	$122	56
28621 Pinto Dr	0.66mi	3/2.0	1,960 (+6%)	5mo	$270,000	$138	54
12876 Martin Rd	0.57mi	3/2.0	2,059 (+12%)	1mo	$250,000	$121	53
27657 Lorraine Ave	0.75mi	3/1.5	2,045 (+11%)	2mo	$253,900	$124	44
26155 Newport Ave	0.74mi	3/1.5	2,071 (+12%)	2mo	$245,000	$118	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 · 2.52% rent growth · sell at horizon

5-year hold

• IRR: -17.6%
• Equity multiple: 0.38×
• Total profit: $-38,955
• Equity at exit: $33,533

10-year hold

• IRR: -10.6%
• Equity multiple: 0.37×
• Total profit: $-39,657
• Equity at exit: $19,445

Cash invested: $62,972 (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 48093

• Rents YoY: 2.5%
• Active inventory: 128
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,948 high
• Mortgage (P&I): −$1,179
• Tax from tax record: −$291 /mo · $3,498/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $-25

Break-even live

Break-even rent $1,981

Max offer price $220,432

Occupancy floor 96%

Sensitivity live

Price	-10% $102	-5% $38	+0% $-25	+5% $-89	+10% $-153
Rent	-10% $-179	-5% $-102	+0% $-25	+5% $52	+10% $129
Rate	-1.0pp $88	-0.5pp $32	base $-25	+0.5pp $-84	+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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13250 De Mott Dr Warren, MI	3.0	1.5	1386	$1,900	$1.37	44d	1	0.69mi
11116 Racine Rd Warren, MI	3.0	1.5	1433	$2,000	$1.40	0d	1	1.17mi
25125 Campbell Ave Warren, MI	3.0	1.5	2086	$2,000	$0.96	2d	1	1.26mi
8429 Towne Center Cir S #52 Warren, MI	2.0	2.0	1240	$1,775	$1.43	25d	1	1.30mi
8459 Towne Center Cir N #96 Warren, MI	2.0	2.5	1646	$2,000	$1.22	0d	1	1.34mi
8457 Towne Center Cir Unit 90 Warren, MI	2.0	2.0	1319	$1,800	$1.36	44d	1	1.35mi
29400 Towne Center Cir Warren, MI	1.0–3.0	1.0–2.0	1114	$2,099	$1.88	0d	1	1.36mi
27284 Bunert Rd Warren, MI	3.0	1.0	2209	$2,300	$1.04	0d	1	1.37mi

Listing history 10 events

1. 2026-05-12
   status Pending 940-char remark

   Show marketing remark (940 chars)

   Welcome to 27483 Norma Drive! This spacious 3-bedroom, 2-bath quad-level brick home is on desirable corner lot in Warren offering 1,845 SQFT and tons of potential. This home is excellent opportunity for buyers or investors looking to customize a home to their taste. The layout features both a living room and sunroom, a primary bedroom with an ensuite, hardwood floors, and abundant natural light. Major mechanical items have already been addressed, including a brand-new furnace, vinyl/aluminum windows, and a roof estimated to be about 5 years old. Outside, the property includes a newer driveway, detached 2-car garage with garage door access to the backyard, and a fenced-in yard. The backyard also features an inground 220-gallon pool, currently covered but fully functional. One of the largest homes on the street, offering significant upside and value-add potential for a flip, rental, or personalized renovation! Sold as-is. BTVAI.

2. 2026-05-12
   status Pending 940-char remark

   Show marketing remark (940 chars)

   Welcome to 27483 Norma Drive! This spacious 3-bedroom, 2-bath quad-level brick home is on desirable corner lot in Warren offering 1,845 SQFT and tons of potential. This home is excellent opportunity for buyers or investors looking to customize a home to their taste. The layout features both a living room and sunroom, a primary bedroom with an ensuite, hardwood floors, and abundant natural light. Major mechanical items have already been addressed, including a brand-new furnace, vinyl/aluminum windows, and a roof estimated to be about 5 years old. Outside, the property includes a newer driveway, detached 2-car garage with garage door access to the backyard, and a fenced-in yard. The backyard also features an inground 220-gallon pool, currently covered but fully functional. One of the largest homes on the street, offering significant upside and value-add potential for a flip, rental, or personalized renovation! Sold as-is. BTVAI.

3. 2026-03-13
   listed $224,900 Active 940-char remark

   Show marketing remark (940 chars)

   Welcome to 27483 Norma Drive! This spacious 3-bedroom, 2-bath quad-level brick home is on desirable corner lot in Warren offering 1,845 SQFT and tons of potential. This home is excellent opportunity for buyers or investors looking to customize a home to their taste. The layout features both a living room and sunroom, a primary bedroom with an ensuite, hardwood floors, and abundant natural light. Major mechanical items have already been addressed, including a brand-new furnace, vinyl/aluminum windows, and a roof estimated to be about 5 years old. Outside, the property includes a newer driveway, detached 2-car garage with garage door access to the backyard, and a fenced-in yard. The backyard also features an inground 220-gallon pool, currently covered but fully functional. One of the largest homes on the street, offering significant upside and value-add potential for a flip, rental, or personalized renovation! Sold as-is. BTVAI.

4. 2026-03-13
   listed $224,900 Active 940-char remark

   Show marketing remark (940 chars)

   Welcome to 27483 Norma Drive! This spacious 3-bedroom, 2-bath quad-level brick home is on desirable corner lot in Warren offering 1,845 SQFT and tons of potential. This home is excellent opportunity for buyers or investors looking to customize a home to their taste. The layout features both a living room and sunroom, a primary bedroom with an ensuite, hardwood floors, and abundant natural light. Major mechanical items have already been addressed, including a brand-new furnace, vinyl/aluminum windows, and a roof estimated to be about 5 years old. Outside, the property includes a newer driveway, detached 2-car garage with garage door access to the backyard, and a fenced-in yard. The backyard also features an inground 220-gallon pool, currently covered but fully functional. One of the largest homes on the street, offering significant upside and value-add potential for a flip, rental, or personalized renovation! Sold as-is. BTVAI.

5. 2026-03-03
   historical
6. 2026-03-03
   historical
7. 2025-12-30
   price $240,000
8. 2025-12-29
   price $240,000
9. 2025-12-03
   listed $244,000 Active
10. 2025-12-03
    listed $244,000 Active

ⓘ 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: $3,498 · $291/mo
• Projected year-2 tax: $3,498 · $291/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 ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,382
• − Mortgage interest: −$12,598
• − Property taxes: −$3,498
• − Insurance: −$1,124
• − Repairs & maintenance: −$1,871
• − Management: −$1,871
• − Depreciation: −$6,543
• Taxable loss: −$4,122
• Est. tax savings @ 24.0%: +$989
• After-tax cash flow: $686/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: Warren Woods Public Schools
• NCES district ID: 2635220
• Math proficiency: 23% ▼ -9.00%
• Reading proficiency: 40% ▼ -5.00%
• Median HH income: $49,013
• Composite: 27.29/100
• National rank: #7003
• State rank: #336 of 540 in MI

Livability — Warren

• Score: 74/100
• State rank: #171
• US rank: #4491

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Warren, MI
• County: Macomb County · 638,552 people
• City population: 114,937
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 25,014
• Household income: $68,218
• Rent vs Own: 25.5% rent · 74.5% own
• Severe rent burden: 632.0

Population outlook (Macomb County) Hauer SSP2

• Today (2025): 925,296 people
• By 2030: 948,226 · +2.5%
• By 2040: 983,961 · +6.3%
• By 2050: 1,010,200 · +9.2%
• By 2075: 1,076,222 · +16.3%
• By 2100: 1,077,065 · +16.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Black 18% Asian 9% Two or more races 6% Hispanic / Latino 1%
• Common ancestry: Romanian 14% Lithuanian 3% Arab 2%
• Foreign-born: 15% · Vietnam, Canada, China
• Languages at home: 80% English-only · Other Indo-European 5% Arabic 4% Russian/Polish/Slavic 4%

Political lean MEDSL · Macomb

• 2024 margin: R (+13.7) · D 42.2% · R 55.9% · Other 1.9%
• 2008→2024 swing: -22.3pp toward R · 2008: 8.6pp · 2024: -13.7pp
• All cycles: 2024: R+13.7 2020: R+8.1 2016: R+11.6 2012: D+4.0 2008: D+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -223.26%
• Current HPI: 203.6554
• Rent YoY: ▲ 2.52%
• 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

-7.8% since first listed

10 events — show timeline

• 2026-05-12 Pending — MiRealSource-MiMLS
• 2026-05-12 Pending — REALCOMP
• 2026-03-13 Listed $224,900 REALCOMP
• 2026-03-13 Listed $224,900 MiRealSource-MiMLS
• 2026-03-03 Listing Removed — REALCOMP
• 2026-03-03 Listing Removed — MiRealSource-MiMLS
• 2025-12-30 Price Changed $240,000 MiRealSource-MiMLS
• 2025-12-29 Price Changed $240,000 REALCOMP
• 2025-12-03 Listed $244,000 MiRealSource-MiMLS
• 2025-12-03 Listed $244,000 REALCOMP

Property tax history

+2.5%/yr

Latest (2025): $3,498 · +2.5% YoY. Source: county tax records.