904 Rowland Rd · Addison, MI 48367

$150,000

4 bd · 2.0 ba · 1,524 sqft · Manufactured public records · 28 Days on market

Built 1970 0.50 ac lot ↓ 25% since listing

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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 +14.6/30.0
• ARV discount +7.5/15.0
• 1% rule +4.7/10.0
• DSCR +4.5/10.0
• Schools +4.5/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a manufactured home and needs to be financed by cash or land contract. Great Opportunity for Sweat Equity! Discover the potential in this peaceful and private 4-bedroom, 2-bath ranch nestled on a spacious fenced-in lot. This home offers the perfect blend of country charm and convenience, located near the Polly Ann Trail, providing easy access to outdoor recreation from Lake Orion to Lapeer. Recent updates include a new roof (2021), new well (2021), and updated plumbing and wiring - giving you a solid foundation to build upon. The home does need some finishing touches: the second bathroom requires repair, flooring throughout needs replacement, and the back deck could use staining. The fourth bedroom's closet is conveniently located across the hall. This property is priced accordingly.

Key facts

• New well
• Updated wiring
• Fenced-in lot

Tags

• FENCED-IN LOT
• NEW ROOF
• NEW WELL
• UPDATED PLUMBING
• UPDATED WIRING
• FOURTH BEDROOM CLOSET

Property features AI

Exterior

• Parking: No garage
• Utilities: Private well water; Septic tank sewer
• Home design: Single-family home; One story; Ground-level entry; Aluminum siding
• Construction: Aluminum siding construction
• Exterior features: Covered porch; Fenced backyard; Shed on property; Asphalt roof; Dirt road access; Lot approximately 0.5 acre (100 x 200)

Interior

• Kitchen: Dishwasher; Free-standing gas oven; Free-standing refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Gas water heater; Crawl space basement; 8 total rooms

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $150k.

Deal economics

• At list price, monthly cash flow is $36 ($429/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $145k (3.3% below list).
• Recommended offer: $145k (3.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 60/100 on livability (#580 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D-, amenities F, commute F.
• Oxford Community Schools (suburban): math 42% / reading 58% proficiency, ranked #82 of 540 in MI (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Leonard Elementary School (math 37% / reading 57%, grade D-, #433 of 1,397 statewide, top 34%, 272 students, 30% FRL); Oxford Middle School (math 41% / reading 59%, grade C, #117 of 493 statewide, top 25%, 963 students, 26% FRL); Oxford High School (math 38% / reading 65%, grade D+, #140 of 713 statewide, top 20%, 1,690 students, 27% FRL).
• Market conditions: 42 active listings in the ZIP; 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 $1k of loan paydown is wiped out by about $4k 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 28 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 16 sale attempts since 5y 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.

Recommended offer $145,016 (3.3% below list)

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is D 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?
4. 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?
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: 0.97% ✗
• Cap rate: 6.58%
• Cash-on-cash: 1.02%
• DSCR: 1.05
• GRM: 8.6

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: -14.6%
• Equity multiple: 0.48×
• Total profit: $-21,964
• Equity at exit: $22,365

10-year hold

• IRR: -5.9%
• Equity multiple: 0.62×
• Total profit: $-15,924
• Equity at exit: $12,969

Cash invested: $42,000 (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 48367

• Home prices YoY: -34.7%
• Active inventory: 42
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,450 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$261 /mo · $3,129/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $36

Break-even live

Break-even rent $1,405

Max offer price $150,000

Occupancy floor 93%

Sensitivity live

Price	-10% $121	-5% $78	+0% $36	+5% $-7	+10% $-49
Rent	-10% $-79	-5% $-22	+0% $36	+5% $93	+10% $150
Rate	-1.0pp $111	-0.5pp $74	base $36	+0.5pp $-3	+1.0pp $-43

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 41 events

1. 2026-05-11
   status Pending 804-char remark

   Show marketing remark (804 chars)

   This is a manufactured home and needs to be financed by cash or land contract. Great Opportunity for Sweat Equity! Discover the potential in this peaceful and private 4-bedroom, 2-bath ranch nestled on a spacious fenced-in lot. This home offers the perfect blend of country charm and convenience, located near the Polly Ann Trail, providing easy access to outdoor recreation from Lake Orion to Lapeer. Recent updates include a new roof (2021), new well (2021), and updated plumbing and wiring - giving you a solid foundation to build upon. The home does need some finishing touches: the second bathroom requires repair, flooring throughout needs replacement, and the back deck could use staining. The fourth bedroom's closet is conveniently located across the hall. This property is priced accordingly.

2. 2026-05-11
   status Pending

   Show marketing remark (804 chars)

   This is a manufactured home and needs to be financed by cash or land contract. Great Opportunity for Sweat Equity! Discover the potential in this peaceful and private 4-bedroom, 2-bath ranch nestled on a spacious fenced-in lot. This home offers the perfect blend of country charm and convenience, located near the Polly Ann Trail, providing easy access to outdoor recreation from Lake Orion to Lapeer. Recent updates include a new roof (2021), new well (2021), and updated plumbing and wiring - giving you a solid foundation to build upon. The home does need some finishing touches: the second bathroom requires repair, flooring throughout needs replacement, and the back deck could use staining. The fourth bedroom's closet is conveniently located across the hall. This property is priced accordingly.

3. 2026-04-13
   listed $150,000 Active
4. 2026-04-10
   listed $150,000 Active 804-char remark

   Show marketing remark (804 chars)

   This is a manufactured home and needs to be financed by cash or land contract. Great Opportunity for Sweat Equity! Discover the potential in this peaceful and private 4-bedroom, 2-bath ranch nestled on a spacious fenced-in lot. This home offers the perfect blend of country charm and convenience, located near the Polly Ann Trail, providing easy access to outdoor recreation from Lake Orion to Lapeer. Recent updates include a new roof (2021), new well (2021), and updated plumbing and wiring - giving you a solid foundation to build upon. The home does need some finishing touches: the second bathroom requires repair, flooring throughout needs replacement, and the back deck could use staining. The fourth bedroom's closet is conveniently located across the hall. This property is priced accordingly.

5. 2026-03-31
   historical
6. 2026-02-11
   status Active
7. 2026-02-11
   status Active
8. 2026-01-19
   historical Active Under Contract
9. 2026-01-19
   historical Keep Showing-Contgcy Appl
10. 2025-11-11
    status Active
11. 2025-11-11
    status Active
12. 2025-11-04
    status Pending
13. 2025-11-04
    status Pending
14. 2025-11-04
    historical
15. 2025-10-29
    listed $160,000 Active
16. 2025-10-29
    listed $160,000 Active
17. 2025-06-09
    historical
18. 2025-05-20
    price $200,000
19. 2025-05-20
    price $200,000
20. 2025-05-17
    price $220,000
21. 2025-05-16
    price $220,000
22. 2025-05-14
    price $230,000
23. 2025-05-13
    price $230,000
24. 2025-05-06
    listed $235,000 Active
25. 2025-05-06
    listed $235,000 Active
26. 2021-11-24
    soldstatus $190,000 Sold
27. 2021-11-24
    soldstatus $190,000 Closed
28. 2021-11-01
    status Pending
29. 2021-11-01
    status Pending
30. 2021-10-18
    status Active
31. 2021-10-18
    status Active
32. 2021-08-02
    status Pending
33. 2021-08-02
    status Pending
34. 2021-07-23
    status Active
35. 2021-07-23
    status Active
36. 2021-07-12
    status Pending
37. 2021-07-12
    status Pending
38. 2021-07-08
    listed $200,000 Active
39. 2021-07-08
    listed $200,000 Active
40. 2021-07-06
    historical $200,000
41. 2021-07-06
    historical $200,000

ⓘ 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: $3,129 · $261/mo
• Projected year-2 tax: $3,129 · $261/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $17,402
• − Mortgage interest: −$8,402
• − Property taxes: −$3,129
• − Insurance: −$750
• − Repairs & maintenance: −$1,392
• − Management: −$1,392
• − Depreciation: −$4,364
• Taxable loss: −$2,028
• Est. tax savings @ 24.0%: +$487
• After-tax cash flow: $915/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: Oxford Community Schools
• NCES district ID: 2627240
• Math proficiency: 42% ▼ -9.00%
• Reading proficiency: 58% ▼ -5.00%
• Median HH income: $77,057
• Composite: 45.31/100
• National rank: #2645
• State rank: #82 of 540 in MI

Livability — Addison

• Score: 60/100
• State rank: #580
• US rank: #18632

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,548

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 (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 12% Lithuanian 4% Portuguese 2%
• Foreign-born: 6% · Canada
• Languages at home: 93% English-only · Other Indo-European 2% Arabic 2% Spanish 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: ▼ -119.69%
• Current HPI: 224.8567
• 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

-25.0% since first listed

41 events — show timeline

• 2026-05-11 Pending — MiRealSource-MiMLS
• 2026-05-11 Pending — REALCOMP
• 2026-04-13 Listed $150,000 REALCOMP
• 2026-04-10 Listed $150,000 MiRealSource-MiMLS
• 2026-03-31 Listing Removed — MiRealSource-MiMLS
• 2026-02-11 Relisted — MiRealSource-MiMLS
• 2026-02-11 Relisted — REALCOMP
• 2026-01-19 Contingent — REALCOMP
• 2026-01-19 Contingent — MiRealSource-MiMLS
• 2025-11-11 Relisted — MiRealSource-MiMLS
• 2025-11-11 Relisted — REALCOMP
• 2025-11-04 Pending — MiRealSource-MiMLS
• 2025-11-04 Pending — REALCOMP
• 2025-11-04 Listing Removed — REALCOMP
• 2025-10-29 Listed $160,000 MiRealSource-MiMLS
• 2025-10-29 Listed $160,000 REALCOMP
• 2025-06-09 Listing Removed — MiRealSource-MiMLS
• 2025-05-20 Price Changed $200,000 MiRealSource-MiMLS
• 2025-05-20 Price Changed $200,000 REALCOMP
• 2025-05-17 Price Changed $220,000 MiRealSource-MiMLS
• 2025-05-16 Price Changed $220,000 REALCOMP
• 2025-05-14 Price Changed $230,000 MiRealSource-MiMLS
• 2025-05-13 Price Changed $230,000 REALCOMP
• 2025-05-06 Listed $235,000 REALCOMP
• 2025-05-06 Listed $235,000 MiRealSource-MiMLS
• 2021-11-24 Sold (MLS) $190,000 MiRealSource-MiMLS
• 2021-11-24 Sold (MLS) $190,000 REALCOMP
• 2021-11-01 Pending — MiRealSource-MiMLS
• 2021-11-01 Pending — REALCOMP
• 2021-10-18 Relisted — REALCOMP
• 2021-10-18 Relisted — MiRealSource-MiMLS
• 2021-08-02 Pending — MiRealSource-MiMLS
• 2021-08-02 Pending — REALCOMP
• 2021-07-23 Relisted — MiRealSource-MiMLS
• 2021-07-23 Relisted — REALCOMP
• 2021-07-12 Pending — MiRealSource-MiMLS
• 2021-07-12 Pending — REALCOMP
• 2021-07-08 Listed $200,000 MiRealSource-MiMLS
• 2021-07-08 Listed $200,000 REALCOMP
• 2021-07-06 Coming Soon $200,000 MiRealSource-MiMLS
• 2021-07-06 Coming Soon $200,000 REALCOMP

Property tax history

+10.0%/yr

Latest (2025): $3,129 · -31.7% YoY. Source: county tax records.