94 Dwight Ave · Pontiac, MI 48341

$540,000

1450 bd · 841.0 ba · 3,136 sqft · MultiFamily public records · 11 Days on market

Built 1930 0.39 ac lot

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 29 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Incredible opportunity to own a 29 unit multifamily building in Pontiac. This property has been completely gutted and is ready for your vision and construction. With brand new water lines already installed and all plans approved by the city, the project is set up for a smooth transition and the approved plans will be provided to the new buyer. The building offers massive potential for rental income and the ability to create long term generational wealth. Included in the sale is an additional lot directly across the street, adding even more value and future possibilities. Priced below appraised value, this is a rare chance to secure a large scale project with endless upside. Selling for under $95,000 appraised AS IS Value. (All showings will be accompanied by the listing agent, open tours will be available, for all people to come and see the property. )

Key facts

• 0.39 acre lot
• Built 1930
• Listed 11 days

What this means for you Summary

Snapshot

• This is a 29 × 50-bed/29.0-bath units multifamily listed at $540k.

Deal economics

• At list price, monthly cash flow is $33k ($392k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($46k rent vs $540k).
• Cap rate 78.8% vs local median 6.7% 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, schools F, crime 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.
• Market conditions: 100 active listings in the ZIP; 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).
• At $45,588/mo this rent would consume 1065% of the median local household income ($51k/yr) (locally 833% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k 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 $151k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 18y ago 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.
• Current owner paid $55k; list at $540k implies a 882% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $540,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 8.44% ✓
• Cap rate: 78.82%
• Cash-on-cash: 259.03%
• DSCR: 12.53
• GRM: 1.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 14.17×
• Total profit: $1,991,710
• Equity at exit: $80,516

10-year hold

• IRR: —
• Equity multiple: 30.19×
• Total profit: $4,412,967
• Equity at exit: $46,689

Cash invested: $151,200 (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 48341

• Active inventory: 100
• Price-to-rent: 28.6×

Monthly cashflow live

• Estimated rent: $45,588 medium
• Mortgage (P&I): −$2,832
• Tax from tax record: −$320 /mo · $3,834/yr
• Insurance: −$225
• HOA: −$0
• Vacancy / Maint / Mgmt: −$9,573
• Net cashflow: $32,638

Break-even live

Break-even rent $4,274

Max offer price $540,000

Occupancy floor 23%

29-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 29× units	50	29	$45,588
Total (29 units)			$45,588

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: $135,000
• Closing costs: $16,200
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2025-09-12
   status Pending 864-char remark

   Show marketing remark (864 chars)

   Incredible opportunity to own a 29 unit multifamily building in Pontiac. This property has been completely gutted and is ready for your vision and construction. With brand new water lines already installed and all plans approved by the city, the project is set up for a smooth transition and the approved plans will be provided to the new buyer. The building offers massive potential for rental income and the ability to create long term generational wealth. Included in the sale is an additional lot directly across the street, adding even more value and future possibilities. Priced below appraised value, this is a rare chance to secure a large scale project with endless upside. Selling for under $95,000 appraised AS IS Value. (All showings will be accompanied by the listing agent, open tours will be available, for all people to come and see the property. )

2. 2025-09-12
   status Pending

   Show marketing remark (864 chars)

   Incredible opportunity to own a 29 unit multifamily building in Pontiac. This property has been completely gutted and is ready for your vision and construction. With brand new water lines already installed and all plans approved by the city, the project is set up for a smooth transition and the approved plans will be provided to the new buyer. The building offers massive potential for rental income and the ability to create long term generational wealth. Included in the sale is an additional lot directly across the street, adding even more value and future possibilities. Priced below appraised value, this is a rare chance to secure a large scale project with endless upside. Selling for under $95,000 appraised AS IS Value. (All showings will be accompanied by the listing agent, open tours will be available, for all people to come and see the property. )

3. 2025-09-02
   listed $540,000 Active 864-char remark

   Show marketing remark (864 chars)

   Incredible opportunity to own a 29 unit multifamily building in Pontiac. This property has been completely gutted and is ready for your vision and construction. With brand new water lines already installed and all plans approved by the city, the project is set up for a smooth transition and the approved plans will be provided to the new buyer. The building offers massive potential for rental income and the ability to create long term generational wealth. Included in the sale is an additional lot directly across the street, adding even more value and future possibilities. Priced below appraised value, this is a rare chance to secure a large scale project with endless upside. Selling for under $95,000 appraised AS IS Value. (All showings will be accompanied by the listing agent, open tours will be available, for all people to come and see the property. )

4. 2025-09-02
   listed $540,000 Active

   Show marketing remark (864 chars)

   Incredible opportunity to own a 29 unit multifamily building in Pontiac. This property has been completely gutted and is ready for your vision and construction. With brand new water lines already installed and all plans approved by the city, the project is set up for a smooth transition and the approved plans will be provided to the new buyer. The building offers massive potential for rental income and the ability to create long term generational wealth. Included in the sale is an additional lot directly across the street, adding even more value and future possibilities. Priced below appraised value, this is a rare chance to secure a large scale project with endless upside. Selling for under $95,000 appraised AS IS Value. (All showings will be accompanied by the listing agent, open tours will be available, for all people to come and see the property. )

5. 2025-08-31
   historical $540,000 864-char remark

   Show marketing remark (864 chars)

   Incredible opportunity to own a 29 unit multifamily building in Pontiac. This property has been completely gutted and is ready for your vision and construction. With brand new water lines already installed and all plans approved by the city, the project is set up for a smooth transition and the approved plans will be provided to the new buyer. The building offers massive potential for rental income and the ability to create long term generational wealth. Included in the sale is an additional lot directly across the street, adding even more value and future possibilities. Priced below appraised value, this is a rare chance to secure a large scale project with endless upside. Selling for under $95,000 appraised AS IS Value. (All showings will be accompanied by the listing agent, open tours will be available, for all people to come and see the property. )

6. 2020-08-07
   soldstatus $55,000
7. 2009-03-12
   soldstatus $270,000
8. 2008-09-22
   historical
9. 2008-01-22
   listed $529,000
10. 2004-03-16
    soldstatus $589,000
11. 2003-01-14
    soldstatus $185,000

ⓘ 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: $3,834 · $320/mo
• Projected year-2 tax: $6,075 · $506/mo
• Expected delta: +$2,241/yr (+$187/mo · 58.4%)

ⓘ 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: $547,056
• − Mortgage interest: −$30,248
• − Property taxes: −$3,834
• − Insurance: −$2,700
• − Repairs & maintenance: −$43,764
• − Management: −$43,764
• − Depreciation: −$15,709
• Taxable income: $407,035
• Est. tax owed @ 24.0%: −$97,688
• After-tax cash flow: $293,970/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
• County: Oakland County · 1,009,092 people
• City population: 44,593
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 18,924
• Household income: $51,390
• Rent vs Own: 46.6% rent · 53.4% own
• Severe rent burden: 833.0

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 0.61)
• Race & ethnicity: Black 57% White 22% Hispanic / Latino 12% Two or more races 11% Asian 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2%
• Common ancestry: Slovak 2% Romanian 1% Swiss 1%
• Foreign-born: 10% · Canada
• Languages at home: 86% English-only · Spanish 9% Other Indo-European 1% Other Asian/Pacific 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: ▼ -204.11%
• Current HPI: 257.8941
• 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

+191.9% since first listed

11 events — show timeline

• 2025-09-12 Pending — MiRealSource-MiMLS
• 2025-09-12 Pending — REALCOMP
• 2025-09-02 Listed $540,000 MiRealSource-MiMLS
• 2025-09-02 Listed $540,000 REALCOMP
• 2025-08-31 Coming Soon $540,000 MiRealSource-MiMLS
• 2020-08-07 Sold (Public Records) $55,000 Public Records
• 2009-03-12 Sold (Public Records) $270,000 Public Records
• 2008-09-22 Listing Removed — MiRealSource-MiMLS
• 2008-01-22 Listed $529,000 MiRealSource-MiMLS
• 2004-03-16 Sold (Public Records) $589,000 Public Records
• 2003-01-14 Sold (Public Records) $185,000 Public Records

Property tax history

-6.8%/yr

Latest (2025): $3,834 · +2.9% YoY. Source: county tax records.