1261 Christine Terrace Ter · Madison Heights, MI 48071

$70,000

3 bd · 2.0 ba · 1,300 sqft · SingleFamily · 53 Days on market

Built 2017 Good condition $54/sqft · 65% below area $725/mo HOA · 36% of rent

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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
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +3.2/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * * Open House Saturday 4/11/26 12-3pm * * * Welcome home to this beautifully maintained and thoughtfully updated 3-bedroom, 2 full bath manufactured home, offering comfort, space, and affordability all in one. Situated on a spacious lot, this home provides a rare sense of openness while still being conveniently located. Inside, you’ll find a well-cared-for interior with updates throughout, featuring a functional layout that includes a generous kitchen, comfortable living spaces, and a private primary suite with a full bath. The additional bedrooms are nicely sized and perfect for family, guests, or a home office. Whether you’re looking for a more affordable housing option or a move-in ready home with room to breathe, this property offers incredible value and everyday livability. There is only land rent, there are no taxes to be paid on top of that.

Key facts

• Community pool
• Built 2017
• Listed 52 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $70k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $380 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.8% vs local median 5.7% in Madison Heights — 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 81/100 on livability (#62 in MI, #1,347 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D+, health & safety D.
• Madison District Public Schools (suburban): math 9% / reading 21% proficiency, ranked #502 of 540 in MI (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.8%/yr); 135 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).
• This rent runs 35% of the median local income ($70k/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 $484 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 + 2.8% rent growth), your $20k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Risks & watch-outs

• Watch-outs: HOA is 36% of rent.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $67,900 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 2.87% ✓
• Cap rate: 12.81%
• Cash-on-cash: 23.29%
• DSCR: 2.04
• GRM: 2.9

CMA / ARV

• ARV (median comp): $201,170
• List price: $70,000
• Delta: -65.20%
• 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
26636 Wolverine St	0.22mi	3/1.0	1,286 (-1%)	8mo	$220,000	$171	78
26584 Park Ct	0.13mi	3/1.0	1,218 (-6%)	8mo	$216,000	$177	72
27108 Vance St	0.43mi	3/1.5	1,300 (0%)	7mo	$272,500	$210	72
804 E Lincoln Ave	0.38mi	4/2.0 (+1)	1,346 (+4%)	7mo	$250,000	$186	66
975 E Barrett Ave	0.54mi	3/2.0	1,360 (+5%)	4mo	$195,000	$143	64
26144 Tawas St	0.28mi	4/2.0 (+1)	1,468 (+13%)	2mo	$305,000	$208	59
27129 Osmun St	0.58mi	3/1.0	1,400 (+8%)	4mo	$195,000	$139	53
26806 Wolverine St	0.27mi	3/1.0	1,112 (-14%)	9mo	$155,500	$140	52
592 E Dallas Ave	0.61mi	3/1.5	1,160 (-11%)	2mo	$190,000	$164	50
26668 Osmun St	0.42mi	3/1.0	1,148 (-12%)	9mo	$202,000	$176	50
27328 Park Ct	0.45mi	3/2.0	1,105 (-15%)	6mo	$222,000	$201	49
102 E Dallas Ave	0.71mi	4/1.0 (+1)	1,137 (-12%)	10mo	$230,000	$202	28

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 · 2.81% rent growth · sell at horizon

5-year hold

• IRR: 16.4%
• Equity multiple: 1.66×
• Total profit: $12,978
• Equity at exit: $10,437

10-year hold

• IRR: 25.1%
• Equity multiple: 3.19×
• Total profit: $42,863
• Equity at exit: $6,052

Cash invested: $19,600 (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 48071

• Rents YoY: 2.8%
• Active inventory: 135
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $2,012 high
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$88 /mo · $1,050/yr
• Insurance: −$29
• HOA: −$725
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $380

Break-even live

Break-even rent $1,530

Max offer price $70,000

Occupancy floor 76%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
27385 Park Ct Unit 1364147P Madison Heights, MI	3.0	1.0	904	$1,678	$1.86	2d	1	0.50mi
25151 Dequindre Rd Madison Heights, MI	3.0	2.0	1088	$1,279	$1.18	23d	1	0.76mi
328 W Kalama Ave Madison Heights, MI	3.0	1.0	900	$1,575	$1.75	5d	1	0.84mi
27489 Parkview Blvd Warren, MI	1.0–2.0	1.0–1.5	850	$1,465	$1.72	4d	12	0.84mi
959 E Shevlin Ave Hazel Park, MI	3.0	1.0	1419	$1,750	$1.23	14d	1	0.95mi
691 E Mapledale Ave Hazel Park, MI	2.0	1.0	1333	$1,500	$1.13	10d	1	1.02mi
28222 Saint Louise Dr Warren, MI	3.0	2.0	1600	$5,500	$3.44	1d	1	1.19mi
28218 Diesing Dr Madison Heights, MI	3.0	1.5	1009	$1,700	$1.68	43d	1	1.25mi
27865 Brettonwoods St Madison Heights, MI	3.0	2.0	964	$2,000	$2.07	11d	1	1.25mi
1045 E 12 Mile Rd Madison Heights, MI	3.0	1.0	1700	$4,000	$2.35	1d	1	1.27mi
2655 S Seaton Circuit St Warren, MI	3.0	1.5	1820	$1,650	$0.91	24d	1	1.28mi
14895 Twelve Mile Rd Warren, MI	1.0–2.0	1.0–1.5	1025	$1,560	$1.52	1d	4	1.30mi
322 Jeff Keeton Dr Hazel Park, MI	2.0	2.5	1334	$2,350	$1.76	1d	1	1.31mi
29264 Tessmer Ct Madison Heights, MI	2.0	1.5	1128	$1,395	$1.24	43d	1	1.37mi
617 S Edgeworth Ave Royal Oak, MI	2.0	1.0	955	$2,125	$2.23	24d	1	1.37mi
1554 Cynthia Ave Madison Heights, MI	3.0	1.5	1021	$1,950	$1.91	3d	1	1.46mi
1322 Elliott Ave Madison Heights, MI	3.0	1.5	1500	$2,100	$1.40	17d	1	1.50mi

HOA detail

• Monthly dues: $725 · $8,700/yr

Listing history 5 events

1. 2026-06-01
   days on market $70,000 Active 53 DOM
2. 2026-05-31
   days on market $70,000 Active 52 DOM
3. 2026-04-10
   listed $70,000 Active 880-char remark

   Show marketing remark (868 chars)

   * * * Open House Saturday 4/11/26 12-3pm * * * Welcome home to this beautifully maintained and thoughtfully updated 3-bedroom, 2 full bath manufactured home, offering comfort, space, and affordability all in one. Situated on a spacious lot, this home provides a rare sense of openness while still being conveniently located. Inside, you'll find a well-cared-for interior with updates throughout, featuring a functional layout that includes a generous kitchen, comfortable living spaces, and a private primary suite with a full bath. The additional bedrooms are nicely sized and perfect for family, guests, or a home office. Whether you're looking for a more affordable housing option or a move-in ready home with room to breathe, this property offers incredible value and everyday livability. There is only land rent, there are no taxes to be paid on top of that.

4. 2026-04-10
   listed $70,000 Active 868-char remark

   Show marketing remark (868 chars)

   * * * Open House Saturday 4/11/26 12-3pm * * * Welcome home to this beautifully maintained and thoughtfully updated 3-bedroom, 2 full bath manufactured home, offering comfort, space, and affordability all in one. Situated on a spacious lot, this home provides a rare sense of openness while still being conveniently located. Inside, you'll find a well-cared-for interior with updates throughout, featuring a functional layout that includes a generous kitchen, comfortable living spaces, and a private primary suite with a full bath. The additional bedrooms are nicely sized and perfect for family, guests, or a home office. Whether you're looking for a more affordable housing option or a move-in ready home with room to breathe, this property offers incredible value and everyday livability. There is only land rent, there are no taxes to be paid on top of that.

5. 2026-04-08
   historical $70,000 868-char remark

   Show marketing remark (868 chars)

   * * * Open House Saturday 4/11/26 12-3pm * * * Welcome home to this beautifully maintained and thoughtfully updated 3-bedroom, 2 full bath manufactured home, offering comfort, space, and affordability all in one. Situated on a spacious lot, this home provides a rare sense of openness while still being conveniently located. Inside, you'll find a well-cared-for interior with updates throughout, featuring a functional layout that includes a generous kitchen, comfortable living spaces, and a private primary suite with a full bath. The additional bedrooms are nicely sized and perfect for family, guests, or a home office. Whether you're looking for a more affordable housing option or a move-in ready home with room to breathe, this property offers incredible value and everyday livability. There is only land rent, there are no taxes to be paid on top of that.

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 69% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,139
• − Mortgage interest: −$3,921
• − Property taxes: −$1,050
• − Insurance: −$350
• − Repairs & maintenance: −$1,931
• − Management: −$1,931
• − HOA: −$8,700
• − Depreciation: −$2,036
• Taxable income: $4,219
• Est. tax owed @ 24.0%: −$1,013
• After-tax cash flow: $3,552/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 · 12 photos

Good 75/100 Cosmetic rehab

This beautifully maintained and updated 3-bedroom, 2-bath manufactured home is move-in ready with good condition and minimal repairs needed.

Value-add opportunities

• Resale Paint exterior trim — Enhances curb appeal and value
• Resale Replace outdoor light fixtures — Improves curb appeal and safety
• Resale Replace countertops and backsplash — Modernizes kitchen and adds value
• Resale Replace flooring — Modernizes and adds value
• Resale Replace appliances — Modernizes kitchen and adds value
• Resale Paint interior walls — Modernizes and adds value
• Resale Replace light fixtures — Modernizes and adds value
• Resale Replace bathroom fixtures — Modernizes and adds value

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior trim — Enhances curb appeal and value ↑
• Resale Replace outdoor light fixtures — Improves curb appeal and safety ↑
• Resale Replace countertops and backsplash — Modernizes kitchen and adds value ↑
• Resale Replace flooring — Modernizes and adds value ↑
• Resale Replace appliances — Modernizes kitchen and adds value ↑
• Resale Paint interior walls — Modernizes and adds value ↑
• Resale Replace light fixtures — Modernizes and adds value ↑
• Resale Replace bathroom fixtures — Modernizes and adds value ↑

ⓘ 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: Madison District Public Schools
• NCES district ID: 2622290
• Math proficiency: 9% ▼ -11.00%
• Reading proficiency: 21% ▼ -12.00%
• Median HH income: $41,297
• Composite: 12.89/100
• National rank: #9586
• State rank: #502 of 540 in MI

Livability — Madison Heights

• Score: 81/100
• State rank: #62
• US rank: #1347

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Madison Heights, MI
• County: Oakland County · 1,009,092 people
• City population: 28,419
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 28,419
• Household income: $69,503
• Rent vs Own: 35.2% rent · 64.8% own
• Severe rent burden: 786.0

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% Black 7% Asian 7% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 11% Lithuanian 3% Slovak 2%
• Foreign-born: 14% · China, Canada, South Korea
• Languages at home: 84% English-only · Chinese 3% Other Indo-European 3% Arabic 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: ▼ -275.69%
• Current HPI: 243.4861
• Rent YoY: ▲ 2.81%
• 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

+0.0% since first listed

3 events — show timeline

• 2026-04-10 Listed $70,000 REALCOMP
• 2026-04-10 Listed $70,000 MiRealSource-MiMLS
• 2026-04-08 Coming Soon $70,000 MiRealSource-MiMLS