28405 Stuart Ave · Southfield, MI 48076

$205,000

3 bd · 1.0 ba · 1,180 sqft · SingleFamily public records · 18 Days on market

Built 1956 0.25 ac lot Est $209k · at est.

---

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).

• Cash flow +14.4/30.0
• ARV discount +8.3/15.0
• DSCR +4.4/10.0
• 1% rule +4.0/10.0
• Rent growth +3.7/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Luxurious yet affordable ranch-style home in Southfield! This beautifully remodeled, clean, and spacious property features modern updates and new flooring. Conveniently located near Royal Oak, Birmingham, Berkley, and easy access to I-696.

Key facts

• Modern updates
• New flooring
• Ranch-style home

Tags

• RANCH-STYLE HOME
• REMODELED PROPERTY
• MODERN UPDATES
• NEW FLOORING
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $205k.

Deal economics

• At list price, monthly cash flow is $40 ($475/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (9.9% below list).
• Recommended offer: $185k (9.9% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 4.6% in Southfield — 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 72/100 on livability (#248 in MI) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: health & safety D, crime F, amenities F.
• Southfield Public School District (urban): math 17% / reading 37% proficiency, ranked #392 of 540 in MI (top 73%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Vandenberg Elementary School (math 17% / reading 27%, grade F, #1,035 of 1,397 statewide, top 77%, 306 students, 69% FRL) — zoned schools average 69% FRL vs 52% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.8%/yr); 96 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $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 18 days — a 2% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 24y 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.
• Current owner paid $19k; list at $205k implies a 979% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $184,603 (9.9% below list)

Questions for the listing agent

1. Built in 1956 — 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. Crime grade is F 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.90% ✗
• Cap rate: 6.52%
• Cash-on-cash: 0.83%
• DSCR: 1.04
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $208,860
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
28055 Aberdeen St	0.30mi	3/1.0	1,144 (-3%)	2mo	$235,000	$205	80
28463 Sutherland St	0.19mi	3/1.0	1,276 (+8%)	3mo	$155,000	$121	75
28060 Aberdeen St	0.31mi	3/1.0	1,144 (-3%)	7mo	$170,000	$149	75
28464 Stuart Ave	0.05mi	3/1.0	1,036 (-12%)	4mo	$210,000	$203	74
28309 Aberdeen St	0.25mi	3/1.0	1,036 (-12%)	1mo	$183,000	$177	67
28426 Sutherland St	0.22mi	3/1.0	1,036 (-12%)	5mo	$169,000	$163	66
27244 Spring Arbor Dr	0.56mi	3/1.0	1,241 (+5%)	8mo	$235,000	$189	59
28110 Marshall St	0.51mi	3/1.0	1,056 (-10%)	2mo	$181,000	$171	56
3012 Greenfield Rd	0.63mi	3/1.0	1,065 (-10%)	1mo	$245,000	$230	54
28578 Marshall St	0.53mi	3/1.5	1,056 (-10%)	2mo	$207,500	$196	54
16940 W 11 Mile Rd	0.67mi	2/1.5 (-1)	1,080 (-8%)	2mo	$116,000	$107	46
15840 Catalpa Dr	0.49mi	2/2.0 (-1)	1,300 (+10%)	7mo	$179,900	$138	46

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 · 4.84% rent growth · sell at horizon

5-year hold

• IRR: -12.9%
• Equity multiple: 0.53×
• Total profit: $-27,188
• Equity at exit: $30,566

10-year hold

• IRR: -1.3%
• Equity multiple: 0.90×
• Total profit: $-5,482
• Equity at exit: $17,725

Cash invested: $57,400 (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 48076

• Rents YoY: 4.8%
• Active inventory: 96
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,846 high
• Mortgage (P&I): −$1,075
• Tax from tax record: −$258 /mo · $3,100/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $40

Break-even live

Break-even rent $1,796

Max offer price $205,000

Occupancy floor 93%

Sensitivity live

Price	-10% $156	-5% $98	+0% $40	+5% $-18	+10% $-76
Rent	-10% $-106	-5% $-33	+0% $40	+5% $113	+10% $185
Rate	-1.0pp $143	-0.5pp $92	base $40	+0.5pp $-14	+1.0pp $-68

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
28051 Stuart Ave Southfield, MI	3.0	1.5	1441	$2,000	$1.39	19d	1	0.13mi
28291 Pierce St Southfield, MI	2.0	1.0	1332	$1,580	$1.19	26d	1	0.14mi
28124 Brentwood St Southfield, MI	3.0	1.0	1056	$1,800	$1.70	26d	1	0.58mi
18248 W 12 Mile Rd Southfield, MI	1.0–2.0	1.0–2.0	902	$2,254	$2.50	0d	1	0.63mi
17440 W Eleven Mile Rd Lathrup Village, MI	2.0	2.5	1264	$1,949	$1.54	7d	1	0.66mi
27435 Greenfield Rd Southfield, MI	2.0	2.0	1200	$1,399	$1.17	7d	1	0.71mi
3644 Greenfield Rd Unit 3664 Greenfield Berkley, MI	2.0	1.5	950	$1,700	$1.79	20d	1	0.78mi
15833 W Eleven Mile Rd Southfield, MI	1.0–2.0	1.0	905	$1,424	$1.57	1d	5	0.90mi
29890 Everett St Southfield, MI	3.0	1.5	1100	$2,200	$2.00	46d	1	0.91mi
30256 Southfield Rd Southfield, MI	3.0	2.0	1238	$1,675	$1.35	26d	1	0.99mi
30256 Southfield Rd Southfield, MI	3.0	2.0	1227	$1,662	$1.35	7d	2	0.99mi
30276 Southfield Rd Unit 215 Southfield, MI	2.0	2.0	956	$1,399	$1.46	22d	1	1.02mi
30268 Southfield Rd #230 Southfield, MI	2.0	2.0	956	$1,450	$1.52	46d	1	1.06mi
18333 South Dr Southfield, MI	1.0–2.0	1.0–2.0	1044	$1,975	$1.89	1d	5	1.07mi
3185 Buckingham Ave Berkley, MI	3.0	1.0	1091	$1,895	$1.74	26d	1	1.10mi
30300 Southfield Rd Southfield, MI	1.0–3.0	1.0–2.5	1450	$2,150	$1.48	1d	1	1.20mi
3936 Royal Ave Berkley, MI	3.0	2.0	900	$2,000	$2.22	46d	1	1.23mi
19500 W 11 Mile Rd Lathrup Village, MI	2.0	2.0	1393	$1,520	$1.09	14d	1	1.31mi
18335 W 13 Mile Rd Southfield, MI	1.0–2.0	1.0–2.0	925	$1,864	$2.02	1d	8	1.33mi
15075 Lincoln St Oak Park, MI	2.0	1.0–2.0	746	$1,240	$1.66	5d	1	1.50mi

Listing history 24 events

1. 2025-11-18
   status Pending 239-char remark

   Show marketing remark (239 chars)

   Luxurious yet affordable ranch-style home in Southfield! This beautifully remodeled, clean, and spacious property features modern updates and new flooring. Conveniently located near Royal Oak, Birmingham, Berkley, and easy access to I-696.

2. 2025-11-18
   status Pending

   Show marketing remark (239 chars)

   Luxurious yet affordable ranch-style home in Southfield! This beautifully remodeled, clean, and spacious property features modern updates and new flooring. Conveniently located near Royal Oak, Birmingham, Berkley, and easy access to I-696.

3. 2025-10-31
   listed $205,000 Active

   Show marketing remark (239 chars)

   Luxurious yet affordable ranch-style home in Southfield! This beautifully remodeled, clean, and spacious property features modern updates and new flooring. Conveniently located near Royal Oak, Birmingham, Berkley, and easy access to I-696.

4. 2025-10-31
   listed $205,000 Active 239-char remark

   Show marketing remark (239 chars)

   Luxurious yet affordable ranch-style home in Southfield! This beautifully remodeled, clean, and spacious property features modern updates and new flooring. Conveniently located near Royal Oak, Birmingham, Berkley, and easy access to I-696.

5. 2025-10-28
   historical
6. 2025-10-28
   historical
7. 2025-09-27
   price $209,000
8. 2025-09-26
   price $209,000
9. 2025-08-29
   price $219,000
10. 2025-08-29
    price $219,000
11. 2025-08-15
    price $224,900
12. 2025-08-15
    price $224,900
13. 2025-07-17
    listed $235,000 Active
14. 2025-07-17
    listed $235,000 Active
15. 2009-05-12
    soldstatus $19,000
16. 2009-05-12
    soldstatus $19,000
17. 2009-04-29
    historical
18. 2008-12-09
    listed $24,900
19. 2008-12-09
    listed $24,900
20. 2008-10-30
    historical
21. 2008-09-04
    listed $76,900
22. 2002-08-23
    soldstatus $126,800
23. 2002-08-06
    soldstatus $126,800
24. 2002-06-19
    listed $124,900

ⓘ 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: $3,100 · $258/mo
• Projected year-2 tax: $3,128 · $261/mo
• Expected delta: +$29/yr (+$2/mo · 0.9%)

ⓘ 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 2/10 Low 7 d/yr ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,152
• − Mortgage interest: −$11,483
• − Property taxes: −$3,100
• − Insurance: −$1,025
• − Repairs & maintenance: −$1,772
• − Management: −$1,772
• − Depreciation: −$5,964
• Taxable loss: −$2,964
• Est. tax savings @ 24.0%: +$711
• After-tax cash flow: $1,186/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: Southfield Public School District
• NCES district ID: 2632310
• Math proficiency: 17% ▼ -3.00%
• Reading proficiency: 37% ▲ 1.00%
• Median HH income: $51,400
• Composite: 23.77/100
• National rank: #7814
• State rank: #392 of 540 in MI

Livability — Southfield

• Score: 72/100
• State rank: #248
• US rank: #6175

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Southfield, MI
• County: Oakland County · 1,009,092 people
• City population: 54,914
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 25,405
• Household income: $90,058
• Rent vs Own: 26.4% rent · 73.6% own
• Severe rent burden: 607.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 57% White 32% Two or more races 7% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 3% Slovak 1% Scotch-Irish 1%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 90% English-only · Spanish 3% Arabic 2% 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: ▼ -192.13%
• Current HPI: 229.2304
• Rent YoY: ▲ 4.84%
• 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

+64.1% since first listed

24 events — show timeline

• 2025-11-18 Pending — MiRealSource-MiMLS
• 2025-11-18 Pending — REALCOMP
• 2025-10-31 Listed $205,000 REALCOMP
• 2025-10-31 Listed $205,000 MiRealSource-MiMLS
• 2025-10-28 Listing Removed — MiRealSource-MiMLS
• 2025-10-28 Listing Removed — REALCOMP
• 2025-09-27 Price Changed $209,000 MiRealSource-MiMLS
• 2025-09-26 Price Changed $209,000 REALCOMP
• 2025-08-29 Price Changed $219,000 MiRealSource-MiMLS
• 2025-08-29 Price Changed $219,000 REALCOMP
• 2025-08-15 Price Changed $224,900 MiRealSource-MiMLS
• 2025-08-15 Price Changed $224,900 REALCOMP
• 2025-07-17 Listed $235,000 REALCOMP
• 2025-07-17 Listed $235,000 MiRealSource-MiMLS
• 2009-05-12 Sold (MLS) $19,000 REALCOMP
• 2009-05-12 Sold (MLS) $19,000 MiRealSource-MiMLS
• 2009-04-29 Listing Removed — MiRealSource-MiMLS
• 2008-12-09 Listed $24,900 REALCOMP
• 2008-12-09 Listed $24,900 MiRealSource-MiMLS
• 2008-10-30 Listing Removed — REALCOMP
• 2008-09-04 Listed $76,900 REALCOMP
• 2002-08-23 Sold (Public Records) $126,800 Public Records
• 2002-08-06 Sold (MLS) $126,800 REALCOMP
• 2002-06-19 Listed $124,900 REALCOMP

Property tax history

+0.9%/yr

Latest (2025): $3,100 · +20.1% YoY. Source: county tax records.