293 Fielding St · Ferndale, MI 48220

$199,900

3 bd · 2.0 ba · 1,975 sqft · SingleFamily public records · 21 Days on market

Built 1923 4,356 sqft lot $101/sqft · 47% below area Est $246k · 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 +18.6/30.0
• ARV discount +15.0/15.0
• 1% rule +6.5/10.0
• DSCR +5.8/10.0
• Livability +4.5/5.0
• Rent growth +4.1/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great price and huge potential on this 3 bedroom 2 full bath bungalow on a basement. Originally set up as a duplex, would be an ideal mother-in-law upper suite with its own potential kitchen (plumbing in place), bedroom, siting room and bath. Lower level has 2 bedrooms, another bath, dining room and kitchen. Hardwood floors throughout. Some recent partial remodeling done in kitchen (whte Shaker style cabinets & granite counters & designer faucet), bathrooms and some newer paint & fixtures. Newer furnace. Price reflects further possible needed updates/repairs. No FHA or VA offers please. Being sold strictly as-is. .. seller will do no cleanout or repairs. Fenced yard has a garage (2 car with 1 car door). Enclosed front porch/3 season room. Room sizes are estimates. Information in this listing is deemed reliable but not guaranteed. Taxes are non-homestead so will be rated at a lower millage for an owner occupant buyer. Owner is a licensed broker in the state of Michigan.

Key facts

• Designer faucet
• Fenced yard
• Granite counters

Tags

• HARDWOOD FLOORS
• SHAKER STYLE CABINETS
• GRANITE COUNTERS
• DESIGNER FAUCET
• FENCED YARD
• ENCLOSED FRONT PORCH

Property features AI

Finance

• Other: Lot dimensions approximately 35 x 122 (0.1 acre)
• Financial info: No investor or income/expense details provided
• HOA & community: No HOA information provided

Exterior

• Parking: Detached 2-car garage; Paved road access
• Security: No security features provided
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half stories; Ground-level entry with steps; Aluminum siding
• Construction: Block foundation
• Exterior features: Enclosed porch; Porch; Fenced backyard

Interior

• Kitchen: No kitchen appliance list provided
• Bedrooms: Total of 8 rooms (bedroom count not specified)
• Flooring: No flooring details provided
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Natural gas heating; No cooling
• Interior features: Gas water heater; Unfinished basement
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $192 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $197k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.4% 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+.
• 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.
• Zoned schools: Ferndale Lower Elementary Campus (476 students, 53% FRL); Ferndale Middle School (math 13% / reading 35%, grade F, #396 of 493 statewide, top 81%, 540 students, 62% FRL); Ferndale High School (math 32% / reading 57%, grade F, #214 of 713 statewide, top 36%, 712 students, 58% FRL).
• Market conditions: Rents rising fast (+6.2%/yr); 179 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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).
• This rent runs 31% of the median local income ($90k/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 $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

• It's been on market 21 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 19 sale attempts since 15y 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 3.0% of price; built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $196,901 (1.5% below list)

Questions for the listing agent

1. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.15% ✓
• Cap rate: 7.45%
• Cash-on-cash: 4.12%
• DSCR: 1.18
• GRM: 7.2

CMA / ARV

• ARV (median comp): $246,171
• List price: $199,900
• Delta: -18.80%
• 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
233 Silman St	0.24mi	3/2.0	1,970 (-0%)	1mo	$382,000	$194	88
287 Fielding. St	0.01mi	3/2.5	1,762 (-11%)	3mo	$331,000	$188	77
2548 Woodstock Dr	0.28mi	4/2.5 (+1)	1,997 (+1%)	4mo	$237,000	$119	75
923 Gardendale St	0.61mi	3/2.0	1,992 (+1%)	0mo	$375,000	$188	70
370 Channing St	0.34mi	3/1.0	1,821 (-8%)	2mo	$295,000	$162	65
211 Silman St	0.23mi	4/2.5 (+1)	2,187 (+11%)	2mo	$285,000	$130	62
298 W Saratoga St	0.75mi	3/2.0	1,972 (-0%)	4mo	$408,000	$207	62
770 Meadowdale St	0.49mi	3/1.0	1,779 (-10%)	0mo	$260,000	$146	56
398 W Hazelhurst St	0.53mi	3/1.5	1,784 (-10%)	4mo	$317,500	$178	54
408 College St	0.52mi	3/2.5	2,197 (+11%)	2mo	$585,000	$266	53
860 Gardendale St	0.57mi	4/2.0 (+1)	2,216 (+12%)	4mo	$399,900	$180	44
621 W Hazelhurst St	0.64mi	4/2.5 (+1)	1,758 (-11%)	0mo	$475,000	$270	44

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: -5.6%
• Equity multiple: 0.78×
• Total profit: $-12,210
• Equity at exit: $29,806

10-year hold

• IRR: 8.0%
• Equity multiple: 1.71×
• Total profit: $39,898
• Equity at exit: $17,284

Cash invested: $55,972 (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 48220

• Rents YoY: 6.2%
• Active inventory: 179
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,304 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$496 /mo · $5,953/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$484
• Net cashflow: $192

Break-even live

Break-even rent $2,060

Max offer price $199,900

Occupancy floor 87%

Sensitivity live

Price	-10% $305	-5% $249	+0% $192	+5% $136	+10% $79
Rent	-10% $10	-5% $101	+0% $192	+5% $283	+10% $374
Rate	-1.0pp $293	-0.5pp $243	base $192	+0.5pp $140	+1.0pp $88

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
351 Edgewood Pl Unit 2 Ferndale, MI	3.0	2.0	1600	$2,200	$1.38	19d	1	0.11mi
2554 Woodstock Dr Highland Park, MI	3.0	1.5	1929	$2,250	$1.17	16d	1	0.24mi
394 Hilton Rd #101 Ferndale, MI	2.0	2.0	1506	$2,500	$1.66	4d	1	0.39mi
695 Livernois St Unit 1 Ferndale, MI	2.0	2.0	1500	$2,750	$1.83	14d	1	0.69mi
320 E Troy St Ferndale, MI	4.0	2.0	1627	$2,200	$1.35	45d	1	0.74mi
631 Shasta Pl Ferndale, MI	3.0	2.0	1317	$2,100	$1.59	45d	1	0.85mi
1330 E Chesterfield St Ferndale, MI	4.0	2.0	1795	$2,800	$1.56	0d	1	0.93mi
329 W Muir Ave Hazel Park, MI	4.0	2.0	1606	$2,000	$1.25	12d	1	1.18mi
1557 Leroy St Ferndale, MI	3.0	2.0	1380	$2,523	$1.83	6d	1	1.31mi
2705 Inman St Ferndale, MI	3.0	2.5	1429	$3,195	$2.24	0d	1	1.37mi
2803 Grayson St Ferndale, MI	3.0	2.0	1274	$2,000	$1.57	45d	1	1.42mi

Listing history 50 events

1. 2026-06-21
   days on market $199,900 Active 21 DOM
2. 2026-06-18
   days on market $199,900 Active 18 DOM
3. 2026-06-17
   days on market $199,900 Active 17 DOM
4. 2026-06-16
   days on market $199,900 Active 16 DOM
5. 2026-06-15
   days on market $199,900 Active 15 DOM
6. 2026-06-13
   days on market $199,900 Active 13 DOM
7. 2026-06-13
   days on market $199,900 Active 12 DOM
8. 2026-06-09
   days on market $199,900 Active 9 DOM
9. 2026-06-08
   days on market $199,900 Active 8 DOM
10. 2026-06-07
    days on market $199,900 Active 7 DOM
11. 2026-06-04
    days on market $199,900 Active 4 DOM
12. 2026-06-03
    days on market $199,900 Active 3 DOM
13. 2026-06-02
    days on market $199,900 Active 2 DOM
14. 2026-06-01
    days on marketlisting id $199,900 Active 1 DOM
15. 2026-02-18
    listed $199,900 Active 1001-char remark
16. 2026-02-17
    listed $199,900 Active 1001-char remark
17. 2026-02-17
    historical
18. 2026-02-17
    historical
19. 2026-01-26
    listed $224,900 Active
20. 2026-01-25
    listed $224,900 Active
21. 2025-12-18
    historical
22. 2025-12-17
    listed $240,000 Active
23. 2025-12-17
    listed $240,000 Active
24. 2024-09-20
    soldstatus $200,000 Sold
25. 2024-09-20
    soldstatus $200,000 Sold
26. 2024-09-20
    soldstatus $200,000 Closed
27. 2024-09-20
    soldstatus $200,000 Closed
28. 2024-08-21
    status Pending
29. 2024-08-21
    status Pending
30. 2024-08-21
    status Pending
31. 2024-08-21
    status Pending
32. 2024-07-04
    listed $199,900 Active
33. 2024-07-04
    listed $199,900 Active
34. 2024-07-04
    listed $199,900 Active
35. 2024-07-04
    listed $199,900 Active
36. 2024-06-30
    status Pending
37. 2024-06-30
    status Pending
38. 2024-06-28
    status Pending
39. 2024-06-28
    status Pending
40. 2024-06-28
    historical
41. 2024-06-28
    historical
42. 2024-06-28
    historical
43. 2024-06-28
    historical
44. 2024-06-22
    listed $199,900 Active
45. 2024-06-22
    listed $199,900 Active
46. 2024-06-22
    listed $199,900 Active
47. 2024-06-22
    listed $199,900 Active
48. 2012-08-08
    historical
49. 2012-04-09
    soldstatus $27,900
50. 2012-04-09
    soldstatus $27,900

ⓘ 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: $5,953 · $496/mo
• Projected year-2 tax: $5,953 · $496/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 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,644
• − Mortgage interest: −$11,198
• − Property taxes: −$5,953
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,212
• − Management: −$2,212
• − Depreciation: −$5,815
• Taxable loss: −$744
• Est. tax savings @ 24.0%: +$179
• After-tax cash flow: $2,485/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

+1010.6% since first listed

48 events — show timeline

• 2026-05-31 Listed $199,900 REALCOMP
• 2026-05-31 Listing Removed — MiRealSource-MiMLS
• 2026-05-31 Listed $199,900 MiRealSource-MiMLS
• 2026-05-31 Listing Removed — REALCOMP
• 2026-02-18 Listed $199,900 REALCOMP
• 2026-02-17 Listing Removed — MiRealSource-MiMLS
• 2026-02-17 Listing Removed — REALCOMP
• 2026-02-17 Listed $199,900 MiRealSource-MiMLS
• 2026-01-26 Listed $224,900 REALCOMP
• 2026-01-25 Listed $224,900 MiRealSource-MiMLS
• 2025-12-18 Listing Removed — MiRealSource-MiMLS
• 2025-12-17 Listed $240,000 MiRealSource-MiMLS
• 2025-12-17 Listed $240,000 REALCOMP
• 2024-09-20 Sold (MLS) $200,000 MiRealSource-MiMLS
• 2024-09-20 Sold (MLS) $200,000 MiRealSource-MiMLS
• 2024-09-20 Sold (MLS) $200,000 REALCOMP
• 2024-09-20 Sold (MLS) $200,000 REALCOMP
• 2024-08-21 Pending — MiRealSource-MiMLS
• 2024-08-21 Pending — REALCOMP
• 2024-08-21 Pending — MiRealSource-MiMLS
• 2024-08-21 Pending — REALCOMP
• 2024-07-04 Listed $199,900 MiRealSource-MiMLS
• 2024-07-04 Listed $199,900 MiRealSource-MiMLS
• 2024-07-04 Listed $199,900 REALCOMP
• 2024-07-04 Listed $199,900 REALCOMP
• 2024-06-30 Pending — MiRealSource-MiMLS
• 2024-06-30 Pending — REALCOMP
• 2024-06-28 Pending — MiRealSource-MiMLS
• 2024-06-28 Pending — REALCOMP
• 2024-06-28 Listing Removed — MiRealSource-MiMLS
• 2024-06-28 Listing Removed — MiRealSource-MiMLS
• 2024-06-28 Listing Removed — REALCOMP
• 2024-06-28 Listing Removed — REALCOMP
• 2024-06-22 Listed $199,900 MiRealSource-MiMLS
• 2024-06-22 Listed $199,900 MiRealSource-MiMLS
• 2024-06-22 Listed $199,900 REALCOMP
• 2024-06-22 Listed $199,900 REALCOMP
• 2012-08-08 Listing Removed — MiRealSource-MiMLS
• 2012-04-09 Sold (MLS) $27,900 REALCOMP
• 2012-04-09 Sold (MLS) $27,900 MiRealSource-MiMLS
• 2012-03-20 Listing Removed — REALCOMP
• 2012-03-20 Listing Removed — MiRealSource-MiMLS
• 2011-09-20 Listed $29,900 REALCOMP
• 2011-09-20 Listed $29,900 MiRealSource-MiMLS
• 2011-08-08 Listed $595 MiRealSource-MiMLS
• 1990-10-10 Sold (Public Records) $33,000 Public Records
• 1990-10-10 Sold (Public Records) $18,000 Public Records
• 1973-03-01 Sold (Public Records) $18,000 Public Records

Property tax history

+7.2%/yr

Latest (2025): $5,953 · +79.2% YoY. Source: county tax records.