770 Meadowdale St · Ferndale, MI 48220

$239,900

3 bd · 1.0 ba · 1,783 sqft · SingleFamily public records · 4 Days on market

Built 1950 5,227 sqft lot $135/sqft · 24% below area Est $315k · 24% 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 +20.0/30.0
• ARV discount +15.0/15.0
• DSCR +6.3/10.0
• 1% rule +5.0/10.0
• 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

Welcome to the Dales! Great neighborhood & location close to downtown Ferndale restaurants, shopping, parks & more! This 3 bedroom Bungalow with garage has a large covered porch and private fenced backyard to enjoy. All windows have been replaced with top-of-the-line Anderson Windows. Gutters replaced and gutter guards installed. New hot water tank, central air. Inside are beautiful newly refinished hardwood floors. Separate dining room, large primary bedroom, finished basement. Freshly painted throughout. All appliances stay. Occupancy at closing. Don't miss the opportunity to make this move-in ready property your new home! Agent related to seller. Multiple offers. Highest and Best due by 5pm Sunday 5/17/26.

Key facts

• 5,227 sq ft lot
• Garage
• Built 1950

Property features AI

Finance

• Other: Pets allowed

Exterior

• Parking: Detached garage; Driveway; 1 garage space
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family residence; One and one-half stories; Ground-level entry with steps; Aluminum and vinyl siding; Asphalt roof
• Construction: Block foundation; Built with aluminum and vinyl siding
• Exterior features: Covered porch; Exterior lighting; Back yard fencing; Paved road access

Interior

• Kitchen: Free-standing gas range; Free-standing refrigerator; Gas water heater
• Bedrooms: 6 total rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Finished full basement; Basement lighting
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $293 ($4k/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 $240k (0.0% below list).
• Recommended offer: $240k (0.0% below list) — sets the bar for 1% rule.
• Cap rate 7.8% 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+; Watch: schools D+.
• 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.
• Market conditions: Rents rising fast (+6.2%/yr); 171 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 32% 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 $2k of loan paydown is wiped out by about $7k 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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $239,887

Questions for the listing agent

1. Built in 1950 — 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. 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.
5. 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.
6. 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: 1.00% ✗
• Cap rate: 7.76%
• Cash-on-cash: 5.23%
• DSCR: 1.23
• GRM: 8.3

CMA / ARV

• ARV (median comp): $314,697
• List price: $239,900
• Delta: -23.77%
• 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
770 Meadowdale St	0.00mi	3/1.0	1,779 (-0%)	0mo	$260,000	$146	99
621 W Hazelhurst St	0.19mi	4/2.5 (+1)	1,758 (-1%)	0mo	$475,000	$270	77
923 Gardendale St	0.13mi	3/2.0	1,992 (+12%)	0mo	$375,000	$188	70
1310 Pinecrest Dr	0.51mi	3/1.5	1,731 (-3%)	2mo	$264,900	$153	68
465 Pearson St	0.24mi	3/2.0	1,600 (-10%)	1mo	$395,000	$247	67
1060 W Hazelhurst St	0.45mi	3/2.0	1,874 (+5%)	1mo	$366,000	$195	65
335 Laprairie St	0.33mi	3/1.0	1,553 (-13%)	1mo	$236,000	$152	62
370 Channing St	0.71mi	3/1.0	1,821 (+2%)	2mo	$295,000	$162	62
985 W Hazelhurst St	0.38mi	3/2.5	1,550 (-13%)	2mo	$400,000	$258	53
550 Pinecrest Dr	0.48mi	3/1.5	1,547 (-13%)	1mo	$387,400	$250	53
233 Silman St	0.60mi	3/2.0	1,970 (+10%)	0mo	$382,000	$194	50
619 Withington St	0.63mi	4/2.0 (+1)	1,971 (+10%)	2mo	$425,000	$216	43

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: -4.7%
• Equity multiple: 0.82×
• Total profit: $-12,156
• Equity at exit: $35,770

10-year hold

• IRR: 8.3%
• Equity multiple: 1.73×
• Total profit: $48,843
• Equity at exit: $20,742

Cash invested: $67,172 (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: 171
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,399 high
• Mortgage (P&I): −$1,258
• Tax from tax record: −$244 /mo · $2,933/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$504
• Net cashflow: $293

Break-even live

Break-even rent $2,028

Max offer price $239,900

Occupancy floor 83%

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
695 Livernois St Unit 1 Ferndale, MI	2.0	2.0	1500	$2,750	$1.83	12d	1	0.26mi
351 Edgewood Pl Unit 2 Ferndale, MI	3.0	2.0	1600	$2,200	$1.38	17d	1	0.42mi
631 Shasta Pl Ferndale, MI	3.0	2.0	1317	$2,100	$1.59	43d	1	0.46mi
320 E Troy St Ferndale, MI	4.0	2.0	1627	$2,200	$1.35	43d	1	0.60mi
2554 Woodstock Dr Highland Park, MI	3.0	1.5	1929	$2,250	$1.17	14d	1	0.70mi
1557 Leroy St Ferndale, MI	3.0	2.0	1380	$2,523	$1.83	5d	1	0.83mi
394 Hilton Rd #101 Ferndale, MI	2.0	2.0	1506	$2,500	$1.66	2d	1	0.84mi
2705 Inman St Ferndale, MI	3.0	2.5	1429	$3,195	$2.24	1d	1	1.18mi
2803 Grayson St Ferndale, MI	3.0	2.0	1274	$2,000	$1.57	43d	1	1.29mi
1330 E Chesterfield St Ferndale, MI	4.0	2.0	1795	$2,800	$1.56	1d	1	1.38mi

Listing history 11 events

1. 2026-05-18
   status Pending 730-char remark

   Show marketing remark (730 chars)

   Welcome to the Dales! Great neighborhood & location close to downtown Ferndale restaurants, shopping, parks & more! This 3 bedroom Bungalow with garage has a large covered porch and private fenced backyard to enjoy. All windows have been replaced with top-of-the-line Anderson Windows. Gutters replaced and gutter guards installed. New hot water tank, central air. Inside are beautiful newly refinished hardwood floors. Separate dining room, large primary bedroom, finished basement. Freshly painted throughout. All appliances stay. Occupancy at closing. Don't miss the opportunity to make this move-in ready property your new home! Agent related to seller. Multiple offers. Highest and Best due by 5pm Sunday 5/17/26.

2. 2026-05-18
   status Pending 736-char remark

   Show marketing remark (730 chars)

   Welcome to the Dales! Great neighborhood & location close to downtown Ferndale restaurants, shopping, parks & more! This 3 bedroom Bungalow with garage has a large covered porch and private fenced backyard to enjoy. All windows have been replaced with top-of-the-line Anderson Windows. Gutters replaced and gutter guards installed. New hot water tank, central air. Inside are beautiful newly refinished hardwood floors. Separate dining room, large primary bedroom, finished basement. Freshly painted throughout. All appliances stay. Occupancy at closing. Don't miss the opportunity to make this move-in ready property your new home! Agent related to seller. Multiple offers. Highest and Best due by 5pm Sunday 5/17/26.

3. 2026-05-15
   listed $239,900 Active 730-char remark

   Show marketing remark (730 chars)

   Welcome to the Dales! Great neighborhood & location close to downtown Ferndale restaurants, shopping, parks & more! This 3 bedroom Bungalow with garage has a large covered porch and private fenced backyard to enjoy. All windows have been replaced with top-of-the-line Anderson Windows. Gutters replaced and gutter guards installed. New hot water tank, central air. Inside are beautiful newly refinished hardwood floors. Separate dining room, large primary bedroom, finished basement. Freshly painted throughout. All appliances stay. Occupancy at closing. Don't miss the opportunity to make this move-in ready property your new home! Agent related to seller. Multiple offers. Highest and Best due by 5pm Sunday 5/17/26.

4. 2026-05-15
   listed $239,900 Active 736-char remark

   Show marketing remark (730 chars)

   Welcome to the Dales! Great neighborhood & location close to downtown Ferndale restaurants, shopping, parks & more! This 3 bedroom Bungalow with garage has a large covered porch and private fenced backyard to enjoy. All windows have been replaced with top-of-the-line Anderson Windows. Gutters replaced and gutter guards installed. New hot water tank, central air. Inside are beautiful newly refinished hardwood floors. Separate dining room, large primary bedroom, finished basement. Freshly painted throughout. All appliances stay. Occupancy at closing. Don't miss the opportunity to make this move-in ready property your new home! Agent related to seller. Multiple offers. Highest and Best due by 5pm Sunday 5/17/26.

5. 2026-05-13
   historical $239,900 730-char remark

   Show marketing remark (730 chars)

   Welcome to the Dales! Great neighborhood & location close to downtown Ferndale restaurants, shopping, parks & more! This 3 bedroom Bungalow with garage has a large covered porch and private fenced backyard to enjoy. All windows have been replaced with top-of-the-line Anderson Windows. Gutters replaced and gutter guards installed. New hot water tank, central air. Inside are beautiful newly refinished hardwood floors. Separate dining room, large primary bedroom, finished basement. Freshly painted throughout. All appliances stay. Occupancy at closing. Don't miss the opportunity to make this move-in ready property your new home! Agent related to seller. Multiple offers. Highest and Best due by 5pm Sunday 5/17/26.

6. 2011-10-05
   soldstatus $63,000
7. 2011-09-16
   soldstatus $63,000

   Show marketing remark (310 chars)

   MOVE RIGHT IN TO THIS WELL MAINTAINED HOME. HAVE YOUR NEXT FAMILY GET TOGETHER IN THE FINISHED BASEMENT WITH BAR. TREE LINED STREET. NEW ROOF AND GUTTERS IN 2005. NEW FLOOR IN BATH IN 2007. NEW ELECTRICAL PANEL IN 2007. NEW FURNACE 2009. NEW FLOOR IN KITCHEN, PAINTED THROUGH-OUT WITH NEW MOLDINGS IN 2010.

8. 2011-09-16
   soldstatus $63,000

   Show marketing remark (310 chars)

   MOVE RIGHT IN TO THIS WELL MAINTAINED HOME. HAVE YOUR NEXT FAMILY GET TOGETHER IN THE FINISHED BASEMENT WITH BAR. TREE LINED STREET. NEW ROOF AND GUTTERS IN 2005. NEW FLOOR IN BATH IN 2007. NEW ELECTRICAL PANEL IN 2007. NEW FURNACE 2009. NEW FLOOR IN KITCHEN, PAINTED THROUGH-OUT WITH NEW MOLDINGS IN 2010.

9. 2011-09-12
   historical
10. 2011-08-08
    listed $65,000

    Show marketing remark (310 chars)

    MOVE RIGHT IN TO THIS WELL MAINTAINED HOME. HAVE YOUR NEXT FAMILY GET TOGETHER IN THE FINISHED BASEMENT WITH BAR. TREE LINED STREET. NEW ROOF AND GUTTERS IN 2005. NEW FLOOR IN BATH IN 2007. NEW ELECTRICAL PANEL IN 2007. NEW FURNACE 2009. NEW FLOOR IN KITCHEN, PAINTED THROUGH-OUT WITH NEW MOLDINGS IN 2010.

11. 2011-08-08
    listed $65,000

    Show marketing remark (310 chars)

    MOVE RIGHT IN TO THIS WELL MAINTAINED HOME. HAVE YOUR NEXT FAMILY GET TOGETHER IN THE FINISHED BASEMENT WITH BAR. TREE LINED STREET. NEW ROOF AND GUTTERS IN 2005. NEW FLOOR IN BATH IN 2007. NEW ELECTRICAL PANEL IN 2007. NEW FURNACE 2009. NEW FLOOR IN KITCHEN, PAINTED THROUGH-OUT WITH NEW MOLDINGS IN 2010.

ⓘ 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: $2,933 · $244/mo
• Projected year-2 tax: $3,314 · $276/mo
• Expected delta: +$381/yr (+$32/mo · 13.0%)

ⓘ 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: $28,786
• − Mortgage interest: −$13,438
• − Property taxes: −$2,933
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,303
• − Management: −$2,303
• − Depreciation: −$6,979
• Taxable loss: −$369
• Est. tax savings @ 24.0%: +$88
• After-tax cash flow: $3,601/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

+300.0% since first listed

13 events — show timeline

• 2026-06-08 Sold (MLS) $260,000 MiRealSource-MiMLS
• 2026-06-08 Sold (MLS) $260,000 REALCOMP
• 2026-05-18 Pending — MiRealSource-MiMLS
• 2026-05-18 Pending — REALCOMP
• 2026-05-15 Listed $239,900 MiRealSource-MiMLS
• 2026-05-15 Listed $239,900 REALCOMP
• 2026-05-13 Coming Soon $239,900 MiRealSource-MiMLS
• 2011-10-05 Sold (Public Records) $63,000 Public Records
• 2011-09-16 Sold (MLS) $63,000 MiRealSource-MiMLS
• 2011-09-16 Sold (MLS) $63,000 REALCOMP
• 2011-09-12 Listing Removed — MiRealSource-MiMLS
• 2011-08-08 Listed $65,000 MiRealSource-MiMLS
• 2011-08-08 Listed $65,000 REALCOMP

Property tax history

-0.5%/yr

Latest (2025): $2,933 · +1.6% YoY. Source: county tax records.