44 W Elza Ave · Hazel Park, MI 48030

$49,900

1 bd · 1.0 ba · 573 sqft · SingleFamily public records · 7 Days on market

Built 1926 6,534 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Here is your opportunity to buy a great little house or an amazing piece of land to add onto or redevelop completely! Huge lot, great 2 car garage already on the property and close to Ferndale, Royal Oak, all the freeways and more. There's already new construction on this street going for HUGE money! Cash only, quick and easy closing. Get your offers before it's gone! This will be the cheapest you can buy a home west of John R!!!

Key facts

• 2 car garage
• Huge lot
• 6,534 sq ft lot

Tags

• HUGE LOT
• 2 CAR GARAGE
• NEW CONSTRUCTION ON STREET

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Ground-level entry with steps
• Construction: Vinyl siding; Approximately 600 above-grade finished square feet
• Exterior features: Paved road access; Lot approximately 0.15 acres (50 x 107.5)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Crawl space basement; Two total rooms

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $538 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Cap rate 19.2% vs local median 6.2% in Hazel Park — 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 (#65 in MI, #1,385 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+, schools D.
• Hazel Park School District (suburban): math 10% / reading 24% proficiency, ranked #490 of 540 in MI (top 91%) — 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 (+2.9%/yr); 135 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $345 of loan paydown is wiped out by about $1k 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 + 2.9% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 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: property tax is 2.7% of price; built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $49,900

Questions for the listing agent

1. Built in 1926 — 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: 2.36% ✓
• Cap rate: 19.22%
• Cash-on-cash: 46.18%
• DSCR: 3.05
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $125,487
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
74 W Bernhard Ave	0.06mi	2/1.0 (+1)	597 (+4%)	3mo	$131,000	$219	83
346 E Bernhard Ave	0.17mi	2/1.0 (+1)	643 (+12%)	2mo	$143,000	$222	65
101 W Maxlow Ave	0.06mi	2/1.0 (+1)	629 (+10%)	13mo	$132,000	$210	65
355 W Woodruff Ave	0.62mi	2/1.0 (+1)	589 (+3%)	11mo	$120,000	$204	52
1641 Silman St St	0.36mi	2/1.0 (+1)	640 (+12%)	11mo	$186,500	$291	50

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 · 2.9% rent growth · sell at horizon

5-year hold

• IRR: 43.3%
• Equity multiple: 2.87×
• Total profit: $26,091
• Equity at exit: $7,440

10-year hold

• IRR: 49.3%
• Equity multiple: 5.76×
• Total profit: $66,528
• Equity at exit: $4,314

Cash invested: $13,972 (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 48030

• Rents YoY: 2.9%
• Active inventory: 135
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,178 high
• Mortgage (P&I): −$262
• Tax from tax record: −$110 /mo · $1,326/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $538

Break-even live

Break-even rent $497

Max offer price $49,900

Occupancy floor 49%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
27 E Milton Ave Hazel Park, MI	1.0	1.0	568	$1,050	$1.85	14d	1	0.14mi
155 W George Ave Hazel Park, MI	2.0	1.0	725	$1,000	$1.38	24d	1	0.27mi
1211 E Bernhard Ave Hazel Park, MI	2.0	1.0	721	$1,500	$2.08	24d	1	0.61mi
23115 Tawas Ave Hazel Park, MI	2.0	1.0	706	$1,375	$1.95	24d	1	0.83mi
1621 E Evelyn Ave Hazel Park, MI	2.0	1.0	749	$1,295	$1.73	18d	1	0.87mi
690 E Marshall St Unit Lower Ferndale, MI	1.0	1.0	700	$1,295	$1.85	11d	1	0.91mi
23773 Hazelwood Ave Hazel Park, MI	2.0	1.0	671	$1,400	$2.09	12d	1	1.10mi
21516 Dequindre Rd Warren, MI	1.0–2.0	1.0	837	$1,040	$1.24	22d	1	1.11mi
1291 W State Fair Ave Detroit, MI	1.0–2.0	1.0	700	$850	$1.21	12d	2	1.18mi
552 E Saratoga St Unit Upper Unit Ferndale, MI	2.0	1.0	700	$1,300	$1.86	24d	1	1.26mi
1045 E Woodward Heights Blvd Hazel Park, MI	1.0–2.0	1.0	715	$1,049	$1.47	24d	3	1.28mi
165 E Hazelhurst St Unit 2 Ferndale, MI	1.0	1.0	500	$898	$1.80	18d	1	1.32mi
425 Vester St Unit A Ferndale, MI	2.0	1.0	525	$1,349	$2.57	5d	1	1.38mi
21155 Warner Ave Warren, MI	2.0	1.0	756	$1,029	$1.36	24d	1	1.39mi
218 Academy St Unit Upper Unit Ferndale, MI	1.0	1.0	500	$850	$1.70	5d	1	1.41mi
2215 Browning St Ferndale, MI	2.0	1.0	739	$1,350	$1.83	4d	1	1.42mi
1770 E Woodward Heights Blvd Unit C1 Hazel Park, MI	1.0	1.0	550	$1,350	$2.45	24d	1	1.48mi
1770 E Woodward Heights Blvd Hazel Park, MI	1.0–2.0	1.0	712	$1,075	$1.51	5d	1	1.48mi
1770 E Woodward Heights Blvd Unit C6 Hazel Park, MI	1.0	1.0	550	$1,100	$2.00	24d	1	1.48mi
22111 Woodward Ave Ferndale, MI	2.0	1.0	816	$2,556	$3.13	16d	1	1.48mi

Listing history 7 events

1. 2026-06-04
   status $49,900 Pending 7 DOM
2. 2026-06-03
   days on market $49,900 Active 7 DOM
3. 2026-06-02
   days on market $49,900 Active 6 DOM
4. 2026-06-01
   days on market $49,900 Active 5 DOM
5. 2026-05-31
   days on market $49,900 Active 4 DOM
6. 2026-05-27
   listed $49,900 Active

   Show marketing remark (433 chars)

   Here is your opportunity to buy a great little house or an amazing piece of land to add onto or redevelop completely! Huge lot, great 2 car garage already on the property and close to Ferndale, Royal Oak, all the freeways and more. There's already new construction on this street going for HUGE money! Cash only, quick and easy closing. Get your offers before it's gone! This will be the cheapest you can buy a home west of John R!!!

7. 2026-05-27
   listed $49,900 Active 433-char remark

   Show marketing remark (433 chars)

   Here is your opportunity to buy a great little house or an amazing piece of land to add onto or redevelop completely! Huge lot, great 2 car garage already on the property and close to Ferndale, Royal Oak, all the freeways and more. There's already new construction on this street going for HUGE money! Cash only, quick and easy closing. Get your offers before it's gone! This will be the cheapest you can buy a home west of John R!!!

ⓘ 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: $1,326 · $110/mo
• Projected year-2 tax: $1,326 · $110/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 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,137
• − Mortgage interest: −$2,795
• − Property taxes: −$1,326
• − Insurance: −$250
• − Repairs & maintenance: −$1,131
• − Management: −$1,131
• − Depreciation: −$1,452
• Taxable income: $6,053
• Est. tax owed @ 24.0%: −$1,453
• After-tax cash flow: $5,000/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: Hazel Park School District
• NCES district ID: 2618030
• Math proficiency: 10% ▼ -2.00%
• Reading proficiency: 24% ▲ 1.00%
• Median HH income: $36,181
• Composite: 14.05/100
• National rank: #9466
• State rank: #490 of 540 in MI

Livability — Hazel Park

• Score: 81/100
• State rank: #65
• US rank: #1385

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hazel Park, MI
• County: Oakland County · 1,009,092 people
• City population: 14,963
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 14,963
• Household income: $67,073
• Rent vs Own: 33.9% rent · 66.1% own
• Severe rent burden: 432.0

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 (74%)
• Race & ethnicity: White 74% Two or more races 10% Black 10% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Romanian 11% Slovak 3% Lithuanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 5% Arabic 1% 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: ▼ -184.32%
• Current HPI: 285.5923
• Rent YoY: ▲ 2.90%
• 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

2 events — show timeline

• 2026-05-27 Listed $49,900 REALCOMP
• 2026-05-27 Listed $49,900 MiRealSource-MiMLS

Property tax history

+2.7%/yr

Latest (2025): $1,326 · +7.4% YoY. Source: county tax records.