23130 Audrey Ave · Warren, MI 48091

$129,900

2 bd · 1.0 ba · 952 sqft · SingleFamily public records · 13 Days on market

Built 1957 8,276 sqft lot Est $152k · 15% under ↓ 13% since listing

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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 +14.1/15.0
• DSCR +6.0/10.0
• 1% rule +5.4/10.0
• Livability +3.7/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this 2-bedroom, 1-bath home located in a desirable Warren neighborhood and priced to sell. This property features a spacious living room with fireplace, functional kitchen, and a large partially finished basement offering additional living space, storage, or recreation potential. With a few minor cosmetic updates, this home can easily be made move-in ready. Great opportunity for owner-occupants, first-time buyers, or investors. Conveniently located near shopping, dining, schools, and major freeways. Check it out at the new price before its gone!!

Key facts

• Functional kitchen
• 8,276 sq ft lot
• Garage

Tags

• LIVING ROOM WITH FIREPLACE
• FUNCTIONAL KITCHEN
• PARTIALLY FINISHED BASEMENT

Property features AI

Exterior

• Parking: Attached garage with direct access; Driveway; Garage faces front; 1 garage space
• Utilities: Public water; Public sewer (sewer available)
• Home design: Single family residence; One level; Ground-level entry; Brick and vinyl siding exterior; Lot roughly 0.19 acres (60 x 135)
• Construction: Brick and vinyl siding construction
• Exterior features: Back yard with fencing; Fenced lot; Paved road access

Interior

• Bedrooms: Total of 4 rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Window cooling units
• Interior features: Gas water heater; Fireplace in the living room; Partially finished basement; Basement present

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $135 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Cap rate 7.5% vs local median 5.3% in Warren — 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 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.
• Fitzgerald Public Schools (urban): math 8% / reading 23% proficiency, ranked #503 of 540 in MI (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 77% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.4%/yr); 168 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,321 units permitted in Macomb County in 2024 (86 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $129,900

Questions for the listing agent

1. Built in 1957 — 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 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?
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: 1.04% ✓
• Cap rate: 7.54%
• Cash-on-cash: 4.44%
• DSCR: 1.20
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $152,320
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23220 Audrey Ave	0.04mi	2/1.0	952 (0%)	1mo	$169,900	$178	97
23241 Hill Ave	0.09mi	2/1.0	912 (-4%)	1mo	$145,000	$159	88
22521 Panama Ave	0.31mi	2/1.0	936 (-2%)	8mo	$150,000	$160	76
22595 Curie Ave	0.21mi	2/1.0	887 (-7%)	4mo	$40,000	$45	75
23311 Panama Ave	0.23mi	3/1.0 (+1)	1,015 (+7%)	3mo	$175,000	$172	70
22694 Le Fever Ave	0.37mi	3/1.0 (+1)	1,000 (+5%)	2mo	$154,000	$154	67
22369 Cunningham Ave	0.43mi	3/1.0 (+1)	900 (-6%)	1mo	$150,000	$167	65
22011 Masch Ave	0.48mi	3/1.0 (+1)	1,000 (+5%)	5mo	$163,000	$163	60
4251 Dolores Ave	0.74mi	3/1.0 (+1)	960 (+1%)	3mo	$161,000	$168	56
22321 Logue Ave	0.51mi	3/1.0 (+1)	1,018 (+7%)	6mo	$145,000	$142	55
5584 Toepfer Rd	0.63mi	3/1.0 (+1)	1,007 (+6%)	8mo	$139,900	$139	50
24248 Cunningham Ave	0.66mi	2/1.0	845 (-11%)	7mo	$99,000	$117	45

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 · 2.35% rent growth · sell at horizon

5-year hold

• IRR: -10.1%
• Equity multiple: 0.63×
• Total profit: $-13,306
• Equity at exit: $19,369

10-year hold

• IRR: -1.6%
• Equity multiple: 0.89×
• Total profit: $-3,923
• Equity at exit: $11,231

Cash invested: $36,372 (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 48091

• Rents YoY: 2.4%
• Active inventory: 168
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,345 high
• Mortgage (P&I): −$681
• Tax from tax record: −$192 /mo · $2,310/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $135

Break-even live

Break-even rent $1,174

Max offer price $129,900

Occupancy floor 85%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22580 Masch Ave Warren, MI	3.0	1.0	988	$1,450	$1.47	24d	1	0.22mi
22622 Panama Ave Warren, MI	3.0	1.5	920	$1,395	$1.52	11d	1	0.27mi
21465 Syracuse Ave Warren, MI	3.0	1.0	990	$1,375	$1.39	43d	1	0.72mi
21410 Panama St Warren, MI	3.0	1.0	900	$1,600	$1.78	24d	1	0.73mi
3840 Bart Ave Warren, MI	3.0	1.0	1062	$1,350	$1.27	24d	1	0.78mi
20794 Audrey Ave Warren, MI	3.0	1.0	954	$1,350	$1.42	43d	1	0.95mi
4652 E 10 Mile Rd Warren, MI	2.0	1.0	950	$1,200	$1.26	43d	1	0.96mi
3974 Berkshire Ave Warren, MI	1.0	1.0	900	$1,500	$1.67	2d	1	0.97mi
2709 Capitol Ave Warren, MI	3.0	2.0	1056	$1,649	$1.56	43d	1	1.22mi
20263 Caldwell St Detroit, MI	3.0	1.0	909	$1,350	$1.49	16d	1	1.25mi
7043 Meadow Ave Warren, MI	2.0	1.0	911	$1,274	$1.40	43d	1	1.27mi
7275 Chalmers Ave Warren, MI	2.0	1.0	703	$1,200	$1.71	24d	1	1.30mi
7060 Victory Ave Warren, MI	3.0	1.0	945	$1,450	$1.53	11d	1	1.32mi
7033 Westminster Ave Warren, MI	2.0	1.0	561	$1,050	$1.87	43d	1	1.32mi
7511 Toepfer Rd Warren, MI	3.0	1.0	1032	$1,199	$1.16	22d	1	1.34mi
8036 Hupp Ave Warren, MI	2.0	1.0	680	$1,150	$1.69	43d	1	1.42mi
25005 Lawrence Ave Center Line, MI	1.0–2.0	1.0–1.5	1000	$955	$0.95	43d	1	1.46mi
8103 Lozier Ave Unit 2 Warren, MI	1.0	1.0	600	$650	$1.08	43d	1	1.47mi
21155 Warner Ave Warren, MI	2.0	1.0	756	$1,029	$1.36	24d	1	1.47mi
8125 Timken Ave Warren, MI	3.0	1.0	948	$1,270	$1.34	5d	1	1.49mi

Listing history 6 events

1. 2026-04-30
   status Pending 563-char remark

   Show marketing remark (563 chars)

   Welcome to this 2-bedroom, 1-bath home located in a desirable Warren neighborhood and priced to sell. This property features a spacious living room with fireplace, functional kitchen, and a large partially finished basement offering additional living space, storage, or recreation potential. With a few minor cosmetic updates, this home can easily be made move-in ready. Great opportunity for owner-occupants, first-time buyers, or investors. Conveniently located near shopping, dining, schools, and major freeways. Check it out at the new price before its gone!!

2. 2026-04-30
   status Pending

   Show marketing remark (563 chars)

   Welcome to this 2-bedroom, 1-bath home located in a desirable Warren neighborhood and priced to sell. This property features a spacious living room with fireplace, functional kitchen, and a large partially finished basement offering additional living space, storage, or recreation potential. With a few minor cosmetic updates, this home can easily be made move-in ready. Great opportunity for owner-occupants, first-time buyers, or investors. Conveniently located near shopping, dining, schools, and major freeways. Check it out at the new price before its gone!!

3. 2026-04-25
   price $129,900 563-char remark

   Show marketing remark (563 chars)

   Welcome to this 2-bedroom, 1-bath home located in a desirable Warren neighborhood and priced to sell. This property features a spacious living room with fireplace, functional kitchen, and a large partially finished basement offering additional living space, storage, or recreation potential. With a few minor cosmetic updates, this home can easily be made move-in ready. Great opportunity for owner-occupants, first-time buyers, or investors. Conveniently located near shopping, dining, schools, and major freeways. Check it out at the new price before its gone!!

4. 2026-04-24
   price $129,900
5. 2026-04-17
   listed $149,900 Active 563-char remark

   Show marketing remark (563 chars)

   Welcome to this 2-bedroom, 1-bath home located in a desirable Warren neighborhood and priced to sell. This property features a spacious living room with fireplace, functional kitchen, and a large partially finished basement offering additional living space, storage, or recreation potential. With a few minor cosmetic updates, this home can easily be made move-in ready. Great opportunity for owner-occupants, first-time buyers, or investors. Conveniently located near shopping, dining, schools, and major freeways. Check it out at the new price before its gone!!

6. 2026-04-17
   listed $149,900 Active

   Show marketing remark (563 chars)

   Welcome to this 2-bedroom, 1-bath home located in a desirable Warren neighborhood and priced to sell. This property features a spacious living room with fireplace, functional kitchen, and a large partially finished basement offering additional living space, storage, or recreation potential. With a few minor cosmetic updates, this home can easily be made move-in ready. Great opportunity for owner-occupants, first-time buyers, or investors. Conveniently located near shopping, dining, schools, and major freeways. Check it out at the new price before its gone!!

ⓘ 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: $2,310 · $192/mo
• Projected year-2 tax: $2,310 · $192/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 4/10 Moderate FEMA zone X (unshaded) · 22% 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 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,139
• − Mortgage interest: −$7,276
• − Property taxes: −$2,310
• − Insurance: −$650
• − Repairs & maintenance: −$1,291
• − Management: −$1,291
• − Depreciation: −$3,779
• Taxable loss: −$458
• Est. tax savings @ 24.0%: +$110
• After-tax cash flow: $1,726/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: Fitzgerald Public Schools
• NCES district ID: 2614460
• Math proficiency: 8% ▼ -8.00%
• Reading proficiency: 23% ▼ -11.00%
• Median HH income: $34,828
• Composite: 12.67/100
• National rank: #9608
• State rank: #503 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): 30,696
• Household income: $54,230
• Rent vs Own: 35.1% rent · 64.9% own
• Severe rent burden: 1296.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 47% Black 25% Asian 19% Two or more races 5% Hispanic / Latino 3% Native American 2%
• Common ancestry: Romanian 7% Lithuanian 2% Slovak 1%
• Foreign-born: 16% · Canada
• Languages at home: 77% English-only · Other Indo-European 14% Other Asian/Pacific 3% Russian/Polish/Slavic 2%

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: ▼ -199.66%
• Current HPI: 177.9273
• Rent YoY: ▲ 2.35%
• 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

-13.3% since first listed

6 events — show timeline

• 2026-04-30 Pending — MiRealSource-MiMLS
• 2026-04-30 Pending — REALCOMP
• 2026-04-25 Price Changed $129,900 MiRealSource-MiMLS
• 2026-04-24 Price Changed $129,900 REALCOMP
• 2026-04-17 Listed $149,900 REALCOMP
• 2026-04-17 Listed $149,900 MiRealSource-MiMLS

Property tax history

+1.8%/yr

Latest (2025): $2,310 · +2.6% YoY. Source: county tax records.