2938 Dearborn Ave · Rochester Hills, MI 48309

$300,000

2 bd · 1.0 ba · 1,370 sqft · SingleFamily public records · 2 Days on market

Built 1948 0.68 ac lot Est $288k · at est.

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Why this score? — see what drove the F 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 +8.0/30.0
• ARV discount +5.6/15.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• DSCR +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful TURN KEY open-concept ranch in the heart of Rochester Hills w/ expansive property spanning over half an acre! Updated kitchen w/ large center island, perfect for entertaining. Subway tile, butcher block countertops & open shelving create a timeless, inviting feel. Designated dining area flows into spacious family room w/ ample space for office or reading nook, plus cozy fireplace for relaxing evenings at home. Spacious laundry area and mudroom w/ added cabinetry opens to newly stained back deck, perfect for summer nights. Clean, neutral palette and cohesive updated design throughout entire home. Extensive updates include complete exterior painting, new T1-11 siding, newer LG washer & dryer, new gutters/downspouts/soffits, new front decking, comprehensive garage hardware upgrades, garage door jamb & rear door replacement, new water main line, added recessed lighting, updated pendant fixtures, ceiling and interior paint, plus mudroom improvements. Truly move-in ready w/ space & an amazing Rochester Hills location! Husqvarna riding lawnmower stays with the property.

Key facts

• 0.68 acre lot
• 2 garage spots
• Built 1948

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Natural gas connected; High-speed internet; Tankless water heater
• Home design: Ranch-style single-family residence; One story
• Construction: Built in 1948; Concrete and wood siding construction; Asphalt shingle roof; Crawl space basement
• Exterior features: Paved road access; Lot size about 0.68 acres

Interior

• Kitchen: Dishwasher; Disposal; Freezer; Microwave; Oven; Refrigerator; Eat-in kitchen
• Bedrooms: Primary bedroom (17 x 12); Bedroom 2 (12 x 9)
• Bathrooms: 1 full bathroom (9 x 6)
• Heating & cooling: Forced air heating; Has cooling
• Interior features: Garage door opener; Eat-in kitchen; Wood-burning fireplace; Window screens; 7 total rooms
• Laundry & utility: Washer; Dryer; Laundry room (12 x 15)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $-308 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $246k (18.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $220k (26.7% below list).
• Recommended offer: $220k (26.7% below list) — sets the bar for 1% rule.
• Cap rate 5.1% vs local median 2.8% in Rochester Hills — 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 77/100 on livability (#127 in MI, #3,163 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Avondale School District (suburban): math 34% / reading 48% proficiency, ranked #162 of 540 in MI (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Woodland Elementary School (math 22% / reading 42%, grade F, #814 of 1,397 statewide, top 61%, 352 students, 35% FRL); Avondale Middle School (math 30% / reading 43%, grade F, #264 of 493 statewide, top 54%, 630 students, 58% FRL); Avondale High School (math 37% / reading 67%, grade D+, #128 of 713 statewide, top 19%, 1,004 students, 48% FRL) — zoned schools average 47% FRL vs 28% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 155 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 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 $2k of loan paydown is wiped out by about $9k 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 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 5y 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 $240k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $219,919 (26.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.73% ✗
• Cap rate: 5.06%
• Cash-on-cash: -4.40%
• DSCR: 0.80
• GRM: 11.4

CMA / ARV

• ARV (on-the-fly): $287,700
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2951 Dearborn Ave	0.04mi	3/1.5 (+1)	1,316 (-4%)	20mo	$276,000	$210	68
1918 Alsdorf Ave	0.67mi	3/1.0 (+1)	1,368 (-0%)	2mo	$275,000	$201	62
2934 Walsh Dr	0.22mi	3/1.0 (+1)	1,196 (-13%)	12mo	$242,000	$202	54
1905 June Ave	0.51mi	3/1.0 (+1)	1,342 (-2%)	19mo	$232,000	$173	52
1377 Ruby Ave	0.69mi	3/1.5 (+1)	1,482 (+8%)	11mo	$365,000	$246	38
3646 Cone Ave	0.72mi	3/2.0 (+1)	1,440 (+5%)	24mo	$416,101	$289	29

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -23.7%
• Equity multiple: 0.19×
• Total profit: $-68,222
• Equity at exit: $44,731

10-year hold

• IRR: -18.7%
• Equity multiple: -0.01×
• Total profit: $-84,611
• Equity at exit: $25,939

Cash invested: $84,000 (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 48309

• Active inventory: 155
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $2,199 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$347 /mo · $4,167/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$462
• Net cashflow: $-308

Break-even live

Break-even rent $2,589

Max offer price $245,568

Occupancy floor —

Sensitivity live

Price	-10% $-138	-5% $-223	+0% $-308	+5% $-393	+10% $-478
Rent	-10% $-482	-5% $-395	+0% $-308	+5% $-221	+10% $-134
Rate	-1.0pp $-157	-0.5pp $-232	base $-308	+0.5pp $-386	+1.0pp $-465

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2740 Upper Ridge Dr Rochester Hills, MI	2.0	2.0	1093	$3,480	$3.18	4d	1	0.47mi
2800 Overlook Dr Rochester Hills, MI	1.0–2.0	1.0–2.0	853	$1,833	$2.15	1d	12	0.49mi
1886 Ruby Ave Rochester Hills, MI	3.0	2.0	1755	$2,600	$1.48	0d	1	0.77mi
3465 Hazelton Ave Rochester Hills, MI	3.0	1.5	1240	$3,690	$2.98	4d	1	0.93mi
2600 W Auburn Rd Rochester Hills, MI	2.0–3.0	2.0	1264	$1,309	$1.04	6d	1	1.25mi
2450 Norfolk Unit 4104 Rochester Hills, MI	1.0	1.0	1000	$1,590	$1.59	23d	1	1.36mi
2450 Norfolk Unit 10202 Rochester Hills, MI	2.0	2.0	1340	$1,640	$1.22	1d	1	1.36mi

Listing history 17 events

1. 2026-06-01
   status $300,000 Pending 2 DOM
2. 2026-05-31
   days on market $300,000 Active 2 DOM
3. 2026-05-29
   listed $300,000 Active 1112-char remark

   Show marketing remark (1016 chars)

   Beautiful TURN KEY open-concept ranch in the heart of Rochester Hills w/ expansive property spanning over half an acre! Updated kitchen w/ large center island, perfect for entertaining. Subway tile, butcher block countertops & open shelving create a timeless, inviting feel. Designated dining area flows into spacious family room w/ ample space for office or reading nook, plus cozy fireplace for relaxing evenings at home. Spacious laundry area and mudroom w/ added cabinetry opens to newly stained back deck, perfect for summer nights. Clean, neutral palette and cohesive updated design throughout entire home. Extensive updates include complete exterior painting, new T1-11 siding, newer LG washer & dryer, new gutters/downspouts/soffits, new front decking, comprehensive garage hardware upgrades, garage door jamb & rear door replacement, new water main line, added recessed lighting, updated pendant fixtures, ceiling and interior paint, plus mudroom improvements. Truly move-in ready w/ space

4. 2026-05-29
   listed $300,000 Active

   Show marketing remark (1016 chars)

   Beautiful TURN KEY open-concept ranch in the heart of Rochester Hills w/ expansive property spanning over half an acre! Updated kitchen w/ large center island, perfect for entertaining. Subway tile, butcher block countertops & open shelving create a timeless, inviting feel. Designated dining area flows into spacious family room w/ ample space for office or reading nook, plus cozy fireplace for relaxing evenings at home. Spacious laundry area and mudroom w/ added cabinetry opens to newly stained back deck, perfect for summer nights. Clean, neutral palette and cohesive updated design throughout entire home. Extensive updates include complete exterior painting, new T1-11 siding, newer LG washer & dryer, new gutters/downspouts/soffits, new front decking, comprehensive garage hardware upgrades, garage door jamb & rear door replacement, new water main line, added recessed lighting, updated pendant fixtures, ceiling and interior paint, plus mudroom improvements. Truly move-in ready w/ space

5. 2026-05-29
   listed $300,000 Active 1016-char remark

   Show marketing remark (1016 chars)

   Beautiful TURN KEY open-concept ranch in the heart of Rochester Hills w/ expansive property spanning over half an acre! Updated kitchen w/ large center island, perfect for entertaining. Subway tile, butcher block countertops & open shelving create a timeless, inviting feel. Designated dining area flows into spacious family room w/ ample space for office or reading nook, plus cozy fireplace for relaxing evenings at home. Spacious laundry area and mudroom w/ added cabinetry opens to newly stained back deck, perfect for summer nights. Clean, neutral palette and cohesive updated design throughout entire home. Extensive updates include complete exterior painting, new T1-11 siding, newer LG washer & dryer, new gutters/downspouts/soffits, new front decking, comprehensive garage hardware upgrades, garage door jamb & rear door replacement, new water main line, added recessed lighting, updated pendant fixtures, ceiling and interior paint, plus mudroom improvements. Truly move-in ready w/ space

6. 2026-05-27
   historical $300,000 1016-char remark

   Show marketing remark (1016 chars)

   Beautiful TURN KEY open-concept ranch in the heart of Rochester Hills w/ expansive property spanning over half an acre! Updated kitchen w/ large center island, perfect for entertaining. Subway tile, butcher block countertops & open shelving create a timeless, inviting feel. Designated dining area flows into spacious family room w/ ample space for office or reading nook, plus cozy fireplace for relaxing evenings at home. Spacious laundry area and mudroom w/ added cabinetry opens to newly stained back deck, perfect for summer nights. Clean, neutral palette and cohesive updated design throughout entire home. Extensive updates include complete exterior painting, new T1-11 siding, newer LG washer & dryer, new gutters/downspouts/soffits, new front decking, comprehensive garage hardware upgrades, garage door jamb & rear door replacement, new water main line, added recessed lighting, updated pendant fixtures, ceiling and interior paint, plus mudroom improvements. Truly move-in ready w/ space

7. 2026-05-27
   historical $300,000

   Show marketing remark (1016 chars)

   Beautiful TURN KEY open-concept ranch in the heart of Rochester Hills w/ expansive property spanning over half an acre! Updated kitchen w/ large center island, perfect for entertaining. Subway tile, butcher block countertops & open shelving create a timeless, inviting feel. Designated dining area flows into spacious family room w/ ample space for office or reading nook, plus cozy fireplace for relaxing evenings at home. Spacious laundry area and mudroom w/ added cabinetry opens to newly stained back deck, perfect for summer nights. Clean, neutral palette and cohesive updated design throughout entire home. Extensive updates include complete exterior painting, new T1-11 siding, newer LG washer & dryer, new gutters/downspouts/soffits, new front decking, comprehensive garage hardware upgrades, garage door jamb & rear door replacement, new water main line, added recessed lighting, updated pendant fixtures, ceiling and interior paint, plus mudroom improvements. Truly move-in ready w/ space

8. 2021-09-30
   soldstatus $240,000 Sold
9. 2021-09-30
   soldstatus $240,000 Closed
10. 2021-08-30
    status Pending
11. 2021-08-30
    status Pending
12. 2021-08-26
    listed $229,900 Active
13. 2021-08-26
    listed $229,900 Active
14. 2021-08-22
    historical $229,900
15. 2021-08-21
    historical $229,900
16. 2012-08-23
    soldstatus $92,000
17. 1996-03-21
    soldstatus $102,000

ⓘ 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: $4,167 · $347/mo
• Projected year-2 tax: $4,394 · $366/mo
• Expected delta: +$226/yr (+$19/mo · 5.4%)

ⓘ 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 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,390
• − Mortgage interest: −$16,805
• − Property taxes: −$4,167
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,111
• − Management: −$2,111
• − Depreciation: −$8,727
• Taxable loss: −$9,031
• Est. tax savings @ 24.0%: +$2,167
• After-tax cash flow: $-1,530/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: Avondale School District
• NCES district ID: 2603690
• Math proficiency: 34% ▼ -8.00%
• Reading proficiency: 48% ▼ -4.00%
• Median HH income: $71,549
• Composite: 37.33/100
• National rank: #4442
• State rank: #162 of 540 in MI

Livability — Rochester Hills

• Score: 77/100
• State rank: #127
• US rank: #3163

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rochester Hills, MI
• City population: 44,714
• Population (ZIP): 30,254

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 (75%)
• Race & ethnicity: White 75% Asian 12% Two or more races 6% Hispanic / Latino 4% Black 4%
• Common ancestry: Romanian 10% Lithuanian 3% Slovak 3%
• Foreign-born: 19% · Canada, China, South Korea
• Languages at home: 80% English-only · Other Indo-European 6% Chinese 3% Russian/Polish/Slavic 2%

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: ▼ -136.99%
• Current HPI: 201.9197
• Rent YoY: —
• Metro: —
• 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

+194.1% since first listed

15 events — show timeline

• 2026-05-29 Listed $300,000 REALCOMP
• 2026-05-29 Listed $300,000 SW Michigan MLS
• 2026-05-29 Listed $300,000 MiRealSource-MiMLS
• 2026-05-27 Coming Soon $300,000 MiRealSource-MiMLS
• 2026-05-27 Coming Soon $300,000 SW Michigan MLS
• 2021-09-30 Sold (MLS) $240,000 MiRealSource-MiMLS
• 2021-09-30 Sold (MLS) $240,000 REALCOMP
• 2021-08-30 Pending — MiRealSource-MiMLS
• 2021-08-30 Pending — REALCOMP
• 2021-08-26 Listed $229,900 MiRealSource-MiMLS
• 2021-08-26 Listed $229,900 REALCOMP
• 2021-08-22 Coming Soon $229,900 MiRealSource-MiMLS
• 2021-08-21 Coming Soon $229,900 REALCOMP
• 2012-08-23 Sold (Public Records) $92,000 Public Records
• 1996-03-21 Sold (Public Records) $102,000 Public Records

Property tax history

+7.4%/yr

Latest (2025): $4,167 · +4.2% YoY. Source: county tax records.