25612 Adams St · Novi, MI 48375

$54,600

3 bd · 2.0 ba · 1,248 sqft · Other · 35 Days on market

Built 2017 Good condition

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.5/10.0
• Livability +4.3/5.0
• Condition / age +3.8/5.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this well-maintained 2017 double-wide manufactured home offering 3 bedrooms, 2 full bathrooms, and 1,248 sqft of comfortable living space in a desirable Novi community. This home features a bright, open-concept layout with abundant natural light, creating a warm and inviting space for everyday living and entertaining. The functional floor plan includes spacious bedrooms with walk-in closets, along with a large primary suite featuring a private bathroom and additional storage. Enjoy added privacy with a wooded backyard and no rear neighbors, a rare and highly desirable feature. The property also offers parking for up to 3 vehicles and a spacious 136 sqft storage shed, perfect for

Key facts

• Wooded backyard
• No rear neighbors
• Open-concept layout

Tags

• DOUBLE-WIDE MANUFACTURED HOME
• OPEN-CONCEPT LAYOUT
• WOODED BACKYARD
• NO REAR NEIGHBORS
• PARKING FOR 3 VEHICLES
• 136 SQFT STORAGE SHED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $55k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $55k).
• Recommended offer: $53k (3.0% below list) — sets the bar for market timing.
• Cap rate 32.8% vs local median 2.8% in Novi — 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 86/100 on livability (#20 in MI, #377 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: commute F.
• Novi Community School District (urban): math 73% / reading 72% proficiency, ranked #7 of 540 in MI (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 7% free/reduced lunch — higher-income household profile.
• Zoned schools: Village Oaks Elementary School (math 72% / reading 62%, grade B+, #105 of 1,397 statewide, top 9%, 538 students, 19% FRL); Novi High School (math 75% / reading 83%, grade A-, #8 of 713 statewide, top 1%, 2,101 students, 11% FRL).
• Market conditions: Rents rising (+1.7%/yr); 143 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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 $377 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 1.7% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($53k) is reasonable based on typical stale-listing flexibility.

Recommended offer $52,962 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 3.67% ✓
• Cap rate: 32.81%
• Cash-on-cash: 94.70%
• DSCR: 5.21
• GRM: 2.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.68% rent growth · sell at horizon

5-year hold

• IRR: 94.1%
• Equity multiple: 5.28×
• Total profit: $65,394
• Equity at exit: $8,141

10-year hold

• IRR: 96.6%
• Equity multiple: 10.52×
• Total profit: $145,509
• Equity at exit: $4,721

Cash invested: $15,288 (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 48375

• Rents YoY: 1.7%
• Active inventory: 143
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $2,005 high
• Mortgage (P&I): −$286
• Tax est. 1.5%: −$68 /mo · $819/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$421
• Net cashflow: $1,206

Break-even live

Break-even rent $478

Max offer price $54,600

Occupancy floor 35%

Sensitivity live

Price	-10% $1,244	-5% $1,225	+0% $1,206	+5% $1,188	+10% $1,169
Rent	-10% $1,048	-5% $1,127	+0% $1,206	+5% $1,286	+10% $1,365
Rate	-1.0pp $1,234	-0.5pp $1,220	base $1,206	+0.5pp $1,192	+1.0pp $1,178

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: $13,650
• Closing costs: $1,638
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
24651 Olde Orchard St Novi, MI	2.0	2.5	1096	$1,795	$1.64	6d	1	0.64mi
24701 Bashian Dr #8 Novi, MI	2.0	2.5	1250	$1,800	$1.44	45d	1	0.65mi
25528 Portico Ln Unit 161 Novi, MI	2.0	2.0	1240	$1,800	$1.45	45d	1	0.98mi
23737 Stonehenge Blvd Novi, MI	2.0	1.0	936	$1,900	$2.03	19d	1	1.06mi
26375 Halsted Rd Farmington Hills, MI	2.0–3.0	2.5	1528	$2,339	$1.53	0d	8	1.08mi
37863 Wendy Lee St Farmington Hills, MI	3.0	2.0	1235	$2,450	$1.98	25d	1	1.12mi
23672 N Rockledge Novi, MI	2.0	1.0	970	$1,695	$1.75	14d	1	1.14mi
42101 Fountain Park Dr N Novi, MI	1.0–2.0	1.0–2.0	985	$1,824	$1.85	0d	21	1.26mi
24360 Independence Dr Farmington Hills, MI	1.0–3.0	1.0–2.0	967	$2,395	$2.48	0d	119	1.38mi
25300 Constitution Novi, MI	1.0–2.0	1.0–2.5	1241	$2,344	$1.89	0d	14	1.45mi

Listing history 13 events

1. 2026-06-16
   days on market $54,600 Active 35 DOM
2. 2026-06-15
   days on market $54,600 Active 34 DOM
3. 2026-06-13
   days on market $54,600 Active 32 DOM
4. 2026-06-13
   days on market $54,600 Active 31 DOM
5. 2026-06-09
   days on market $54,600 Active 28 DOM
6. 2026-06-08
   days on market $54,600 Active 27 DOM
7. 2026-06-07
   days on market $54,600 Active 26 DOM
8. 2026-06-04
   days on market $54,600 Active 23 DOM
9. 2026-06-03
   days on market $54,600 Active 22 DOM
10. 2026-06-02
    days on market $54,600 Active 21 DOM
11. 2026-06-01
    days on market $54,600 Active 20 DOM
12. 2026-05-31
    days on market $54,600 Active 19 DOM
13. 2026-05-12
    listed $54,600 Active 1381-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,057
• − Mortgage interest: −$3,058
• − Property taxes: −$819
• − Insurance: −$273
• − Repairs & maintenance: −$1,925
• − Management: −$1,925
• − Depreciation: −$1,588
• Taxable income: $14,469
• Est. tax owed @ 24.0%: −$3,473
• After-tax cash flow: $11,005/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.

Condition & rehab AI · 1 photo

Good 75/100 Cosmetic rehab

This 2017 double-wide manufactured home is in good condition with a good exterior and interior. It offers a good layout and is located in a desirable Novi community. Some landscaping and curb appeal improvements would further enhance its value.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances the home's curb appeal and can attract more buyers or renters.
• Both Painting exterior and interior — Fresh paint can make the home look more inviting and can increase its value.
• Both Landscaping and curb appeal improvements — Enhances the home's curb appeal and can attract more buyers or renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances the home's curb appeal and can attract more buyers or renters. ↑
• Both Painting exterior and interior — Fresh paint can make the home look more inviting and can increase its value. ↑
• Both Landscaping and curb appeal improvements — Enhances the home's curb appeal and can attract more buyers or renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Novi Community School District
• NCES district ID: 2626130
• Math proficiency: 73% ▼ -3.00%
• Reading proficiency: 72% ▼ -1.00%
• Median HH income: $90,023
• Composite: 65.28/100
• National rank: #489
• State rank: #7 of 540 in MI

Livability — Novi

• Score: 86/100
• State rank: #20
• US rank: #377

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Novi, MI
• County: Oakland County · 1,009,092 people
• City population: 43,845
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 24,029
• Household income: $112,545
• Rent vs Own: 29.9% rent · 70.1% own
• Severe rent burden: 517.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 56% Asian 27% Two or more races 7% Black 6% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 10% Lithuanian 3% Slovak 2%
• Foreign-born: 29% · China, Canada, South Korea
• Languages at home: 67% English-only · Other Asian/Pacific 12% Other Indo-European 8% Spanish 4%

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: ▼ -337.82%
• Current HPI: 166.0153
• Rent YoY: ▲ 1.68%
• 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