Real Estate Investing in Deerfield, Michigan (49238)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 49238 (Deerfield, MI)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 16.9% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Deerfield, MI (49238)?
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Market Analysis: 49238 Deerfield
ZIP 49238 in Deerfield, MI carries a substantial set of headwinds. Home values near $246K and rents of $1,026/mo sit inside a market where underwriting has to be tight.
For an experienced owner, 49238 can be a a strong candidate for hunting ground — but the discount at $246K reflects genuine risk that outside investors often underestimate.
Stepping back, 49238 offers a low basis, the region around Deerfield has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
The demographic picture in 49238 includes headwinds that any investor should price in. Income distribution skews lower than Deerfield averages, and tenant stability requires active management.
Strategically, 49238 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Deerfield:
Property Strategy for 49238
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 3BR | $217,386 | $1,430 | 4.7% | +7.2% | $72,462 |
| 4BR | $203,674 | $1,810 | 6.4% | — | $50,919 |
Market Trends
Home Value History (with trend line)
📊 How Does 49238 Compare?
| Metric | 49238 | Deerfield | Adrian, MI | Michigan |
|---|---|---|---|---|
| Home Value | $245,513 | $245,513 | N/A | $253,279 |
| 5-Year CAGR | 5.4% | 5.4% | N/A | 6.8% |
| Avg Rent | $1,026 | $1,026 | N/A | - |
| Cap Rate | 3.3% | 3.3% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 49238 (Deerfield, MI). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $245,513 |
| Monthly Rent | $1,026 |
| Price-to-Rent | 19.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.0% |
| Cap Rate | 3.3% |
| 5-Year IRR | 8.6% |
📈 Home Appreciation
| 1-Year | +11.2% ▲ |
| 3-Year CAGR | +5.8% ▲ |
| 5-Year CAGR | +5.4% ▲ |
| 10-Year CAGR | +6.5% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.3%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 49238
Population: 2,009
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 49238
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
Is Deerfield, MI a good market for buy-and-hold investors?
Investors tracking Deerfield, MI will find a 3.0/5 rating supported by $246K median home values and $1,026/mo rents. That profile suits long-term holders targeting consistent returns.
What strategy should investors use in Deerfield, MI?
A careful cash-flow rentals with hands-on management strategy Deerfield, MI best. The market produces even-keeled results for that approach at the $246K price point.
What is the rental occupancy rate in Deerfield, MI?
Deerfield, MI vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
Is Deerfield, MI suited for a house hack?
The a challenging house-hack environment in Deerfield, MI reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
How strong are rents in Deerfield, MI?
Investors in Deerfield, MI typically see rents near $1,026/mo per month against $246K home values - a solid setup for rental cash flow.
You know 49238 now. You don’t know where it ranks.
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How 49238 ranks in Adrian, MI
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