142 Perkins St · Pontiac, MI 48342

$79,900

3 bd · 1.5 ba · 1,854 sqft · SingleFamily public records · 89 Days on market

Built 1920 2,178 sqft lot $43/sqft · 67% below area Est $145k · 45% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity knocks!! Great potential! Two bedroom bungalow on a basement at a really great price!! Price reflects needed repairs and or updates. Being sold strictly as-is. .. seller will do no cleanout nor any repairs. Unusual floor plan with a huge living room with a vaulted ceiling and balcony. Large dining room could be made into third bedroom. No FHA or VA offers please. All sizes shown are strictly estimates. Information contained in this listing is deemed reliable but not guaranteed. .. .. .buyer or buyer's agent to verify all information. Seller will not consider offers where purchaser has not viewed the property first. Taxes are currently non-homestead but will be rated at a lower millage for an owner occupant buyer. Owner is a licensed broker in the state of Michigan. A licensed agent must be physically present for all showings…NO EXCEPTIONS.

Key facts

• 2,178 sq ft lot
• Built 1920
• Listed 88 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $892 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.
• Cap rate 19.7% vs local median 5.4% in Pontiac — 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 64/100 on livability (#499 in MI) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: health & safety D, crime F, amenities F.
• Pontiac City School District (urban): math 8% / reading 17% proficiency, ranked #514 of 540 in MI (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 81% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Whitman Elementary School (math 8% / reading 8%, grade F, #1,300 of 1,397 statewide, top 94%, 601 students, 81% FRL); Pontiac Middle School (math 8% / reading 23%, grade F, #450 of 493 statewide, top 91%, 729 students, 81% FRL); Pontiac High School (math 12% / reading 27%, grade F, #622 of 713 statewide, top 88%, 935 students, 75% FRL) — zoned schools at 79% FRL track the district average.
• Market conditions: 90 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $552 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 + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($75k) 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: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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: 2.23% ✓
• Cap rate: 19.69%
• Cash-on-cash: 47.84%
• DSCR: 3.13
• GRM: 3.7

CMA / ARV

• ARV (median comp): $144,765
• List price: $79,900
• Delta: -44.81%
• 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
140 Whittemore St	0.14mi	3/1.5	1,867 (+1%)	12mo	$200,000	$107	82
81 Willard St	0.11mi	4/1.0 (+1)	1,691 (-9%)	15mo	$166,000	$98	61
231 Going St	0.57mi	3/2.0	1,950 (+5%)	4mo	$147,500	$76	60
202 Fisher Ave	0.55mi	4/1.5 (+1)	1,934 (+4%)	4mo	$168,000	$87	58
200 Whittemore St	0.14mi	3/1.0	1,650 (-11%)	19mo	$135,000	$82	57
61 N Tasmania St	0.75mi	3/1.5	1,800 (-3%)	7mo	$122,000	$68	55
308 Chandler St	0.46mi	3/2.5	1,994 (+8%)	10mo	$212,500	$107	54
175 Rockwell Ave	0.49mi	3/1.5	2,032 (+10%)	19mo	$170,000	$84	45
362 Ferry Ave	0.75mi	4/1.5 (+1)	1,851 (-0%)	18mo	$201,000	$109	45
354 S Marshall St	0.72mi	4/2.0 (+1)	2,020 (+9%)	3mo	$156,000	$77	42
234 Chandler St	0.42mi	4/2.5 (+1)	1,593 (-14%)	11mo	$234,000	$147	39
228 S Marshall St	0.71mi	3/1.0	1,606 (-13%)	16mo	$135,500	$84	29

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: 45.3%
• Equity multiple: 2.96×
• Total profit: $43,860
• Equity at exit: $11,913

10-year hold

• IRR: 51.1%
• Equity multiple: 5.98×
• Total profit: $111,356
• Equity at exit: $6,908

Cash invested: $22,372 (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 48342

• Home prices YoY: -33.8%
• Active inventory: 90
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,784 high
• Mortgage (P&I): −$419
• Tax from tax record: −$65 /mo · $784/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $892

Break-even live

Break-even rent $655

Max offer price $79,900

Occupancy floor 45%

Sensitivity live

Price	-10% $937	-5% $914	+0% $892	+5% $869	+10% $847
Rent	-10% $751	-5% $821	+0% $892	+5% $962	+10% $1,033
Rate	-1.0pp $932	-0.5pp $912	base $892	+0.5pp $871	+1.0pp $850

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21 N Saginaw St Pontiac, MI	2.0	2.5	2500	$2,500	$1.00	0d	1	0.67mi
128 S Edith St Pontiac, MI	2.0–3.0	2.0	1155	$1,700	$1.47	19d	1	0.68mi
107 N Sanford St Pontiac, MI	4.0	1.5	1467	$1,750	$1.19	45d	1	0.87mi
442 Central Ave Unit 1 Pontiac, MI	2.0	1.0	1500	$1,500	$1.00	6d	1	0.88mi
442 Central Ave Pontiac, MI	2.0	1.0	1500	$1,250	$0.83	18d	1	0.88mi
124 Alice Ave Bloomfield Township, MI	3.0	1.0	1440	$2,000	$1.39	6d	1	1.36mi
74 E Iroquois Rd Pontiac, MI	3.0	1.0	1661	$1,695	$1.02	26d	1	1.43mi

Listing history 10 events

1. 2026-06-09
   days on market $79,900 Active 89 DOM
2. 2026-06-08
   days on market $79,900 Active 88 DOM
3. 2026-06-07
   days on market $79,900 Active 87 DOM
4. 2026-06-04
   days on market $79,900 Active 84 DOM
5. 2026-06-03
   days on market $79,900 Active 83 DOM
6. 2026-06-02
   days on market $79,900 Active 82 DOM
7. 2026-06-01
   days on market $79,900 Active 81 DOM
8. 2026-05-31
   days on market $79,900 Active 80 DOM
9. 2026-03-12
   listed $79,900 Active 870-char remark

   Show marketing remark (883 chars)

   Opportunity knocks!! Great potential! Two bedroom bungalow on a basement at a really great price!! Price reflects needed repairs and or updates. Being sold strictly as-is. .. seller will do no cleanout nor any repairs. Unusual floor plan with a huge living room with a vaulted ceiling and balcony. Large dining room could be made into third bedroom. No FHA or VA offers please. All sizes shown are strictly estimates. Information contained in this listing is deemed reliable but not guaranteed. .. .. .buyer or buyer's agent to verify all information. Seller will not consider offers where purchaser has not viewed the property first. Taxes are currently non-homestead but will be rated at a lower millage for an owner occupant buyer. Owner is a licensed broker in the state of Michigan. A licensed agent must be physically present for all showings…NO EXCEPTIONS.

10. 2026-03-12
    listed $79,900 Active 883-char remark

    Show marketing remark (883 chars)

    Opportunity knocks!! Great potential! Two bedroom bungalow on a basement at a really great price!! Price reflects needed repairs and or updates. Being sold strictly as-is. .. seller will do no cleanout nor any repairs. Unusual floor plan with a huge living room with a vaulted ceiling and balcony. Large dining room could be made into third bedroom. No FHA or VA offers please. All sizes shown are strictly estimates. Information contained in this listing is deemed reliable but not guaranteed. .. .. .buyer or buyer's agent to verify all information. Seller will not consider offers where purchaser has not viewed the property first. Taxes are currently non-homestead but will be rated at a lower millage for an owner occupant buyer. Owner is a licensed broker in the state of Michigan. A licensed agent must be physically present for all showings…NO EXCEPTIONS.

ⓘ 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: $784 · $65/mo
• Projected year-2 tax: $1,007 · $84/mo
• Expected delta: +$223/yr (+$19/mo · 28.5%)

ⓘ 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 ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,409
• − Mortgage interest: −$4,476
• − Property taxes: −$784
• − Insurance: −$400
• − Repairs & maintenance: −$1,713
• − Management: −$1,713
• − Depreciation: −$2,324
• Taxable income: $10,001
• Est. tax owed @ 24.0%: −$2,400
• After-tax cash flow: $8,302/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: Pontiac City School District
• NCES district ID: 2628740
• Math proficiency: 8% ▼ -5.00%
• Reading proficiency: 17% ▼ -3.00%
• Median HH income: $33,888
• Composite: 10.12/100
• National rank: #9802
• State rank: #514 of 540 in MI

Livability — Pontiac

• Score: 64/100
• State rank: #499
• US rank: #14703

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pontiac, MI
• City population: 44,593
• Population (ZIP): 17,227

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 0.62)
• Race & ethnicity: Black 57% Hispanic / Latino 19% White 13% Two or more races 13% Asian 4%
• Hispanic origin (detail): Mexican 11% Puerto Rican 2%
• Common ancestry: Romanian 1% Lithuanian 1% Italian 1%
• Foreign-born: 10% · Canada, Vietnam
• Languages at home: 79% English-only · Spanish 15% Other Asian/Pacific 4% Other Indo-European 1%

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: ▼ -109.18%
• Current HPI: 214.3258
• Rent YoY: —
• Metro: —
• 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

2 events — show timeline

• 2026-03-12 Listed $79,900 MiRealSource-MiMLS
• 2026-03-12 Listed $79,900 REALCOMP

Property tax history

-4.9%/yr

Latest (2025): $784 · -56.2% YoY. Source: county tax records.