1523 E Madge Ave · Hazel Park, MI 48030

$129,000

3 bd · 1.0 ba · 855 sqft · SingleFamily public records · 52 Days on market

Built 1940 6,970 sqft lot Est $136k · 5% 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 +19.0/30.0
• ARV discount +9.8/15.0
• 1% rule +6.7/10.0
• DSCR +6.0/10.0
• 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

This 3-bedroom, 2-bath home has been completely remodeled inside and out, featuring a brand new kitchen, updated plumbing and electrical, new flooring, bathrooms, fixtures, and more - everything is essentially like new. Conveniently located near shops, restaurants, and local schools, it offers driveway parking, excellent curb appeal, and modern finishes throughout, making it move-in ready and one you won't want to miss!

Key facts

• Updated electrical
• Completely remodeled
• Brand new kitchen

Tags

• COMPLETELY REMODELED
• BRAND NEW KITCHEN
• UPDATED PLUMBING
• UPDATED ELECTRICAL
• NEW FLOORING
• NEW BATHROOMS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $134 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $129k).
• Recommended offer: $125k (3.0% below list) — sets the bar for market timing.

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+.
• 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.
• Zoned schools: United Oaks Elementary School (math 12% / reading 17%, grade F, #1,185 of 1,397 statewide, top 86%, 350 students, 86% FRL); Hazel Park Junior High School (math 11% / reading 30%, grade F, #418 of 493 statewide, top 85%, 430 students, 78% FRL); Hazel Park High School (math 12% / reading 27%, grade F, #622 of 713 statewide, top 88%, 587 students, 73% FRL).
• Market conditions: Rents rising (+2.9%/yr); 141 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $892 of loan paydown is wiped out by about $4k 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 52 days — a 3% lower offer ($125k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y 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 3.1% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $125,130 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 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 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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: 1.17% ✓
• Cap rate: 7.54%
• Cash-on-cash: 4.46%
• DSCR: 1.20
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $135,945
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1560 E Meyers Ave	0.04mi	2/1.0 (-1)	805 (-6%)	4mo	$72,000	$89	80
1032 E Maxlow Ave	0.30mi	2/1.5 (-1)	867 (+1%)	1mo	$185,000	$213	76
21330 Caledonia Ave	0.48mi	3/1.5	898 (+5%)	1mo	$175,000	$195	66
720 E Granet Ave	0.46mi	2/1.0 (-1)	891 (+4%)	3mo	$159,900	$179	64
2007 Pearl Ave	0.43mi	3/1.0	937 (+10%)	2mo	$131,500	$140	62
1644 E Goulson Ave	0.41mi	3/1.0	952 (+11%)	0mo	$139,950	$147	62
1706 E Pearl Ave	0.26mi	3/1.0	728 (-15%)	3mo	$165,000	$227	60
20747 Caledonia Ave	0.65mi	3/1.0	909 (+6%)	2mo	$144,900	$159	58
2184 Garrick Ave	0.47mi	3/1.0	960 (+12%)	1mo	$95,100	$99	57
20401 Greeley St	0.64mi	3/1.0	928 (+8%)	1mo	$55,000	$59	55
2120 Pearl Ave	0.45mi	2/1.0 (-1)	756 (-12%)	1mo	$113,000	$149	54
23036 Couzens Ave	0.63mi	3/1.0	973 (+14%)	1mo	$215,000	$221	47

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: -9.4%
• Equity multiple: 0.66×
• Total profit: $-12,374
• Equity at exit: $19,234

10-year hold

• IRR: 0.1%
• Equity multiple: 1.00×
• Total profit: $135
• Equity at exit: $11,154

Cash invested: $36,120 (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: 141
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,515 high
• Mortgage (P&I): −$676
• Tax from tax record: −$332 /mo · $3,987/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $134

Break-even live

Break-even rent $1,345

Max offer price $129,000

Occupancy floor 86%

Sensitivity live

Price	-10% $207	-5% $171	+0% $134	+5% $98	+10% $61
Rent	-10% $15	-5% $74	+0% $134	+5% $194	+10% $254
Rate	-1.0pp $199	-0.5pp $167	base $134	+0.5pp $101	+1.0pp $67

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1621 E Evelyn Ave Hazel Park, MI	2.0	1.0	749	$1,295	$1.73	19d	1	0.05mi
1326 E Evelyn Ave Unit 1032332P Hazel Park, MI	3.0	2.0	1097	$6,448	$5.88	0d	1	0.16mi
1211 E Bernhard Ave Hazel Park, MI	2.0	1.0	721	$1,500	$2.08	26d	1	0.28mi
21516 Dequindre Rd Warren, MI	1.0–2.0	1.0	837	$1,375	$1.64	23d	1	0.30mi
1731 E Pearl Ave Hazel Park, MI	3.0	1.0	844	$1,500	$1.78	22d	1	0.30mi
1019 E Hayes Ave Unit 1032331P Hazel Park, MI	3.0	1.0	1033	$5,281	$5.11	0d	1	0.42mi
2034 John B Ave Warren, MI	3.0	1.0	920	$1,261	$1.37	45d	1	0.47mi
21155 Warner Ave Warren, MI	2.0	1.0	756	$1,029	$1.36	26d	1	0.61mi
23077 Davey Ave Hazel Park, MI	3.0	1.0	933	$1,895	$2.03	26d	1	0.62mi
429 E Milton Ave Hazel Park, MI	3.0	2.0	1075	$1,595	$1.48	1d	1	0.68mi
407 E Hayes Ave Hazel Park, MI	3.0	1.0	1000	$1,750	$1.75	26d	1	0.72mi
23115 Tawas Ave Hazel Park, MI	2.0	1.0	706	$1,375	$1.95	26d	1	0.82mi
90 W Meyers Ave Hazel Park, MI	2.0	1.0	831	$1,800	$2.17	26d	1	0.88mi
23345 Tawas Ave Hazel Park, MI	3.0	1.0	1000	$1,550	$1.55	12d	1	0.90mi
20255 Harned St Detroit, MI	3.0	1.0	1000	$1,374	$1.37	18d	1	0.94mi
2709 Capitol Ave Warren, MI	3.0	2.0	1056	$1,649	$1.56	45d	1	0.96mi
155 W George Ave Hazel Park, MI	2.0	1.0	725	$1,000	$1.38	26d	1	1.00mi
1770 E Woodward Heights Blvd Unit E3 Hazel Park, MI	2.0	1.0	850	$1,300	$1.53	26d	1	1.02mi
1770 E Woodward Heights Blvd Hazel Park, MI	2.0	1.0	850	$1,525	$1.79	14d	1	1.02mi
1770 E Woodward Heights Blvd Hazel Park, MI	1.0–2.0	1.0	712	$1,400	$1.96	6d	1	1.02mi
266 W Goulson Ave Hazel Park, MI	3.0	1.0	942	$1,600	$1.70	23d	1	1.06mi
23773 Hazelwood Ave Hazel Park, MI	2.0	1.0	671	$1,400	$2.09	14d	1	1.09mi
1045 E Woodward Heights Blvd Hazel Park, MI	1.0–2.0	1.0	715	$1,209	$1.69	26d	3	1.11mi
1561 E Webster St Ferndale, MI	2.0	1.0	939	$1,600	$1.70	26d	1	1.19mi
2023 Ardmore Dr Ferndale, MI	2.0	1.0	771	$1,250	$1.62	26d	1	1.21mi
19703 Keating St Highland Park, MI	3.0	1.0	1000	$1,200	$1.20	18d	1	1.24mi
3840 Bart Ave Warren, MI	3.0	1.0	1062	$1,350	$1.27	26d	1	1.31mi
19694 Gallagher St Detroit, MI	3.0	1.0	1000	$1,150	$1.15	16d	1	1.36mi

Listing history 18 events

1. 2026-04-22
   soldstatus $120,000
2. 2026-03-19
   status Pending 423-char remark

   Show marketing remark (423 chars)

   This 3-bedroom, 2-bath home has been completely remodeled inside and out, featuring a brand new kitchen, updated plumbing and electrical, new flooring, bathrooms, fixtures, and more - everything is essentially like new. Conveniently located near shops, restaurants, and local schools, it offers driveway parking, excellent curb appeal, and modern finishes throughout, making it move-in ready and one you won't want to miss!

3. 2026-03-19
   status Pending

   Show marketing remark (423 chars)

   This 3-bedroom, 2-bath home has been completely remodeled inside and out, featuring a brand new kitchen, updated plumbing and electrical, new flooring, bathrooms, fixtures, and more - everything is essentially like new. Conveniently located near shops, restaurants, and local schools, it offers driveway parking, excellent curb appeal, and modern finishes throughout, making it move-in ready and one you won't want to miss!

4. 2026-01-27
   listed $129,000 Active
5. 2026-01-26
   listed $129,000 Active 423-char remark

   Show marketing remark (423 chars)

   This 3-bedroom, 2-bath home has been completely remodeled inside and out, featuring a brand new kitchen, updated plumbing and electrical, new flooring, bathrooms, fixtures, and more - everything is essentially like new. Conveniently located near shops, restaurants, and local schools, it offers driveway parking, excellent curb appeal, and modern finishes throughout, making it move-in ready and one you won't want to miss!

6. 2025-12-04
   historical
7. 2025-10-17
   price $149,900
8. 2025-10-16
   price $149,900
9. 2025-10-06
   price $159,900
10. 2025-10-06
    price $159,900
11. 2025-09-22
    listed $174,900 Active
12. 2025-09-22
    listed $174,900 Active
13. 2025-09-20
    historical
14. 2023-10-27
    status Pending
15. 2023-10-26
    soldstatus $40,000 Sold
16. 2023-10-26
    soldstatus $40,000 Closed
17. 2023-09-22
    listed $49,900 Active
18. 2023-09-22
    listed $49,900 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: $3,987 · $332/mo
• Projected year-2 tax: $3,987 · $332/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 2/10 Low 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: $18,179
• − Mortgage interest: −$7,226
• − Property taxes: −$3,987
• − Insurance: −$645
• − Repairs & maintenance: −$1,454
• − Management: −$1,454
• − Depreciation: −$3,753
• Taxable loss: −$340
• Est. tax savings @ 24.0%: +$82
• After-tax cash flow: $1,693/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

+140.5% since first listed

18 events — show timeline

• 2026-04-22 Sold (Public Records) $120,000 Public Records
• 2026-03-19 Pending — MiRealSource-MiMLS
• 2026-03-19 Pending — REALCOMP
• 2026-01-27 Listed $129,000 REALCOMP
• 2026-01-26 Listed $129,000 MiRealSource-MiMLS
• 2025-12-04 Listing Removed — MiRealSource-MiMLS
• 2025-10-17 Price Changed $149,900 MiRealSource-MiMLS
• 2025-10-16 Price Changed $149,900 REALCOMP
• 2025-10-06 Price Changed $159,900 MiRealSource-MiMLS
• 2025-10-06 Price Changed $159,900 REALCOMP
• 2025-09-22 Listed $174,900 MiRealSource-MiMLS
• 2025-09-22 Listed $174,900 REALCOMP
• 2025-09-20 Coming Soon — MiRealSource-MiMLS
• 2023-10-27 Pending — REALCOMP
• 2023-10-26 Sold (MLS) $40,000 MiRealSource-MiMLS
• 2023-10-26 Sold (MLS) $40,000 REALCOMP
• 2023-09-22 Listed $49,900 MiRealSource-MiMLS
• 2023-09-22 Listed $49,900 REALCOMP

Property tax history

+12.4%/yr

Latest (2025): $3,987 · +20.0% YoY. Source: county tax records.