6965 N Adams Rd · Troy, MI 48304

$345,000

4 bd · 2.5 ba · 2,155 sqft · SingleFamily public records · 20 Days on market

Built 1961 0.52 ac lot $160/sqft · 16% below area Est $409k · 16% under $6/mo HOA ↓ 1% 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 +23.2/30.0
• ARV discount +14.5/15.0
• DSCR +7.4/10.0
• 1% rule +5.4/10.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this delightful Colonial home, offering 2,155 square feet of comfortable living space with 4 spacious bedrooms and 2.5 bathrooms. Situated in the highly desirable Chapel Hill Estates, this property rests on a beautiful, tree-lined lot that provides both charm and privacy. Inside, the home boasts an owner’s suite with a full private bathroom, along with three additional generously sized bedrooms. The spacious eat-in kitchen is ideal for everyday meals and gatherings, while the formal living room and family room provide ample space for entertaining. The family room also includes a versatile area that can easily accommodate a second dining table or be tailored to your lifestyl

Key facts

• Accessible location
• Eat in kitchen
• Family room

Tags

• PRIVATE BATHROOM
• EAT IN KITCHEN
• FAMILY ROOM
• TREE LINED LOT
• SOUGHT AFTER NEIGHBORHOOD
• ACCESSIBLE LOCATION

Property features AI

Finance

• Other: Lot about 0.52 acre (approx. 150 x 150)
• HOA & community: Homeowners association with $75 annual fee (about $6.25/month)

Exterior

• Parking: Attached 2-car garage with direct access, garage door opener; garage faces side
• Utilities: Water: Other; Sewer: Septic tank
• Home design: Single-family residence; Two-story home; Ground-level entry; Brick and vinyl siding exterior; Faces unspecified direction
• Construction: Asphalt roof; Slab foundation
• Exterior features: Patio; Paved road access

Interior

• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Forced air heating (natural gas); No central air conditioning
• Interior features: Living room fireplace; Gas water heater; Total of 8 rooms

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $345k.

Deal economics

• At list price, monthly cash flow is $623 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $345k).
• Recommended offer: $340k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 3.6% in Troy — 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 78/100 on livability (#113 in MI, #2,684 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime 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: R Grant Graham Elem School (math 22% / reading 27%, grade F, #980 of 1,397 statewide, top 74%, 376 students, 61% 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 56% FRL vs 28% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 132 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).
• This rent runs 30% of the median local income ($143k/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 $10k 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

• It's been on market 20 days — a 2% lower offer ($340k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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.

Recommended offer $339,825 (1.5% below list)

Questions for the listing agent

1. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 8.46%
• Cash-on-cash: 7.74%
• DSCR: 1.34
• GRM: 8.0

CMA / ARV

• ARV (median comp): $408,640
• List price: $345,000
• Delta: -14.35%
• 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
942 Linden Way	0.19mi	3/2.5 (-1)	2,146 (-0%)	2mo	$429,000	$200	84
820 Linden Way	0.28mi	4/2.5	2,399 (+11%)	10mo	$459,900	$192	60
2800 Tewksbury Dr	0.52mi	3/2.5 (-1)	2,350 (+9%)	1mo	$605,000	$257	55
1186 Peveril Rd	0.59mi	3/3.0 (-1)	2,311 (+7%)	0mo	$539,000	$233	53
1420 Ashover Dr	0.35mi	4/2.5	2,469 (+15%)	8mo	$477,000	$193	52
1358 Winchcombe Dr	0.16mi	3/1.5 (-1)	2,424 (+12%)	12mo	$365,000	$151	52
1659 Ledbury Dr	0.24mi	3/2.0 (-1)	2,460 (+14%)	7mo	$360,000	$146	52
3397 EASTWOOD Dr	0.72mi	3/2.5 (-1)	2,016 (-6%)	0mo	$519,900	$258	50
2546 Limerick Ln	0.61mi	4/3.0	2,296 (+6%)	11mo	$605,000	$264	50
724 Nichols Rd	0.43mi	3/1.0 (-1)	2,280 (+6%)	12mo	$270,000	$118	49
1141 Winchcombe Dr	0.66mi	3/2.0 (-1)	2,367 (+10%)	2mo	$425,000	$180	44
3257 Saint Clair Dr	0.68mi	4/3.0	2,452 (+14%)	10mo	$370,000	$151	35

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: -4.5%
• Equity multiple: 0.83×
• Total profit: $-16,255
• Equity at exit: $51,441

10-year hold

• IRR: 5.2%
• Equity multiple: 1.38×
• Total profit: $36,755
• Equity at exit: $29,829

Cash invested: $96,600 (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 48304

• Active inventory: 132
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $3,587 high
• Mortgage (P&I): −$1,809
• Tax from tax record: −$252 /mo · $3,021/yr
• Insurance: −$144
• HOA: −$6
• Vacancy / Maint / Mgmt: −$753
• Net cashflow: $623

Break-even live

Break-even rent $2,798

Max offer price $345,000

Occupancy floor 78%

Sensitivity live

Price	-10% $819	-5% $721	+0% $623	+5% $526	+10% $428
Rent	-10% $340	-5% $482	+0% $623	+5% $765	+10% $907
Rate	-1.0pp $797	-0.5pp $711	base $623	+0.5pp $534	+1.0pp $443

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: $86,250
• Closing costs: $10,350
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3200 South Blvd Bloomfield Hills, MI	2.0–3.0	2.0	1782	$4,250	$2.38	0d	1	0.77mi
915 Huntclub Blvd Auburn Hills, MI	4.0	2.5	2403	$3,200	$1.33	17d	1	0.98mi
124 Optimist Unit 1201 Rochester Hills, MI	3.0	2.5	2504	$3,535	$1.41	0d	1	1.17mi
124 Optimist Auburn Hills, MI	3.0	2.0–2.5	2123	$3,042	$1.43	0d	5	1.17mi
201 N Squirrel Rd Auburn Hills, MI	2.0–3.0	2.5–3.0	1475	$2,320	$1.57	0d	15	1.40mi
676 Sheffield Rd Auburn Hills, MI	3.0	1.5	1421	$2,495	$1.76	0d	1	1.50mi

HOA detail

• Monthly dues: $6 · $72/yr

Listing history 17 events

1. 2026-06-21
   days on market $345,000 Active 20 DOM
2. 2026-06-18
   days on market $345,000 Active 17 DOM
3. 2026-06-17
   days on market $345,000 Active 16 DOM
4. 2026-06-16
   days on market $345,000 Active 15 DOM
5. 2026-06-15
   days on market $345,000 Active 14 DOM
6. 2026-06-13
   days on market $345,000 Active 12 DOM
7. 2026-06-13
   days on market $345,000 Active 11 DOM
8. 2026-06-09
   days on market $345,000 Active 8 DOM
9. 2026-06-08
   days on market $345,000 Active 7 DOM
10. 2026-06-07
    days on market $345,000 Active 6 DOM
11. 2026-06-04
    days on market $345,000 Active 3 DOM
12. 2026-06-03
    days on market $345,000 Active 2 DOM
13. 2026-06-02
    pricedays on marketlisting id $345,000 Active 1 DOM
14. 2026-06-01
    days on market $350,000 Active 241 DOM
15. 2026-05-31
    days on market $350,000 Active 240 DOM
16. 2025-10-03
    listed $350,000 Active 1176-char remark
17. 2025-10-03
    listed $350,000 Active 1170-char remark

ⓘ 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: $3,021 · $252/mo
• Projected year-2 tax: $4,167 · $347/mo
• Expected delta: +$1,146/yr (+$96/mo · 37.9%)

ⓘ 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 ≥98°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: $43,049
• − Mortgage interest: −$19,325
• − Property taxes: −$3,021
• − Insurance: −$1,725
• − Repairs & maintenance: −$3,444
• − Management: −$3,444
• − HOA: −$72
• − Depreciation: −$10,036
• Taxable income: $1,982
• Est. tax owed @ 24.0%: −$476
• After-tax cash flow: $7,005/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 — Troy

• Score: 78/100
• State rank: #113
• US rank: #2684

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

• County: Oakland County · 1,009,092 people
• City population: 87,898
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 17,387
• Household income: $143,204
• Rent vs Own: 11.3% rent · 88.7% own
• Severe rent burden: 85.0

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 (79%)
• Race & ethnicity: White 79% Asian 10% Two or more races 4% Black 4% Hispanic / Latino 2%
• Common ancestry: Romanian 6% Lithuanian 3% Slovak 2%
• Foreign-born: 17% · China, Canada, South Korea
• Languages at home: 79% English-only · Other Indo-European 6% Arabic 5% Other Asian/Pacific 3%

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: ▼ -195.96%
• Current HPI: 160.6477
• Rent YoY: —
• 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

-1.4% since first listed

6 events — show timeline

• 2026-06-01 Listed $345,000 REALCOMP
• 2026-06-01 Listed $345,000 MiRealSource-MiMLS
• 2026-06-01 Listing Removed — MiRealSource-MiMLS
• 2026-06-01 Listing Removed — REALCOMP
• 2025-10-03 Listed $350,000 REALCOMP
• 2025-10-03 Listed $350,000 MiRealSource-MiMLS

Property tax history

+2.1%/yr

Latest (2025): $3,021 · +2.7% YoY. Source: county tax records.