Real Estate Investing in Chesterfield, Michigan (48047)
Should you buy in 48047 (Chesterfield, MI)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Chesterfield, MI (48047)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 48047 Chesterfield
From an investor standpoint, ZIP 48047 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $348K median. It rewards specialists, not generalists.
Rent of $1,853/mo on a $348K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 48047 sits below the stated 0.0% once reality is priced in.
Nearby ZIPs in Chesterfield have seen price recovery that 48047 has not matched. Macomb County data supports the view that the spread is structural rather than temporary.
Who lives in 48047 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
leans the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Chesterfield:
Property Strategy for 48047
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $192,628 | $1,300 | 4.9% | +7.0% | $96,314 |
| 3BR | $353,965 | $1,590 | 3.2% | +7.3% | $117,988 |
| 4BR | $430,688 | $1,720 | 2.9% | +6.9% | $107,672 |
| 5BR | $495,087 | — | — | +6.4% | $99,017 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 48047 Compare?
| Metric | 48047 | Chesterfield | Detroit-Warren-Dearborn, MI | Michigan |
|---|---|---|---|---|
| Home Value | $347,579 | $330,179 | N/A | $253,279 |
| 5-Year CAGR | 6.1% | 5.9% | N/A | 6.8% |
| Avg Rent | $1,853 | $1,521 | N/A | - |
| Cap Rate | 4.2% | 3.6% | - | - |
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 48047 (Chesterfield, MI). Anonymous, moderated, never written by AI.
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Property managers serving Macomb County
Manage rentals here? List your business →Beacon Management offers property management services for various communities and properties across Michigan, including Ann Arbor, Auburn Hills, Bloomfield Hills, Canton, and Southfield. summary from their website
Key 3 Property Management Group offers property management services in Michigan. summary from their website
Michigan Property Management Solutions offers homes for rent in Michigan, near Macomb Twp., Fraser, Utica, Clinton Valley, and Detroit. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $347,579 |
| Monthly Rent | $1,853 |
| Price-to-Rent | 15.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.4% |
| Cap Rate | 4.2% |
| 5-Year IRR | 10.3% |
📈 Home Appreciation
| 1-Year | +7.0% ▲ |
| 3-Year CAGR | +5.1% ▲ |
| 5-Year CAGR | +6.1% ▲ |
| 10-Year CAGR | +6.4% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.5%) exceeds the estimated cap rate (4.2%). 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 48047
Population: 39,825
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 48047
Schools in This ZIP Code
Nearby Schools (3 more)
Schools in adjacent ZIP codes that may serve this area
Francis A Higgins Elem School
Joseph M Carkenord Elementary School
Middle School East
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
Which real estate strategy fits Chesterfield, MI?
The best-fit strategy in Chesterfield, MI is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
What is the typical renter like in Chesterfield, MI?
Tenant quality in Chesterfield, MI ranks as solid. Landlords generally report predictable occupancy at market rents of $1,853/mo.
Does Chesterfield, MI favor landlords or tenants?
Chesterfield, MI operates under MI law, which is landlord-friendly overall for landlords. Expect even-keeled treatment in typical lease and eviction cases.
Is Chesterfield, MI a good market for FHA house hackers?
Chesterfield, MI offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $1,853/mo rent level.
What is the average home sale price in Chesterfield, MI?
Typical homes in Chesterfield, MI go for around $348K. The 5-year CAGR of 0.0% consistent price movement.
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