26902 Sandy Hl #11 · South Lyon, MI 48165

$99,900

1 bd · 1.0 ba · 750 sqft · Condo · 114 Days on market

Built 1966 $325/mo HOA · 19% of rent

---

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 +29.5/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This beautifully updated first-floor unit offers comfort, style, and a stunning lake view from the patio in this 55+ community. The kitchen has been refreshed with updated cabinets, sleek new countertops, a modern faucet, and an above-range microwave, making it both functional and inviting. The bathroom features an updated shower/tub with new walls, a stylish vanity, and upgraded hardware. Enjoy the warmth of wood flooring in the kitchen, dining area, and hallway, complemented by brand-new carpet in the living room and bedroom. The spacious bedroom includes a large closet for ample storage. Fresh paint throughout gives the home a bright, clean feel. Additional highlights include a carport, Maytag washer and dryer in the basement, refrigerator and stove, and the peace of mind of a back-up generator. This move-in-ready unit combines modern updates with everyday convenience in a serene lakeside setting.

Key facts

• $325 HOA
• Built 1966
• Listed 114 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $100k.

Deal economics

• At list price, monthly cash flow is $359 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $91k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 2.6% in South Lyon — 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 83/100 on livability (#46 in MI, #953 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities C-, commute F.
• South Lyon Community Schools (suburban): math 46% / reading 59% proficiency, ranked #74 of 540 in MI (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: 89 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 $691 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Recommended offer $90,909 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-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?
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: 1.74% ✓
• Cap rate: 10.60%
• Cash-on-cash: 15.40%
• DSCR: 1.69
• GRM: 4.8

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: 6.3%
• Equity multiple: 1.25×
• Total profit: $6,898
• Equity at exit: $14,895

10-year hold

• IRR: 15.8%
• Equity multiple: 2.30×
• Total profit: $36,360
• Equity at exit: $8,638

Cash invested: $27,972 (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 48165

• Active inventory: 89
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,740 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,498/yr
• Insurance: −$42
• HOA: −$325
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $359

Break-even live

Break-even rent $1,285

Max offer price $99,900

Occupancy floor 74%

Sensitivity live

Price	-10% $428	-5% $393	+0% $359	+5% $324	+10% $290
Rent	-10% $221	-5% $290	+0% $359	+5% $428	+10% $496
Rate	-1.0pp $409	-0.5pp $384	base $359	+0.5pp $333	+1.0pp $307

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $325 · $3,900/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2025-08-13
   status Pending 913-char remark

   Show marketing remark (913 chars)

   This beautifully updated first-floor unit offers comfort, style, and a stunning lake view from the patio in this 55+ community. The kitchen has been refreshed with updated cabinets, sleek new countertops, a modern faucet, and an above-range microwave, making it both functional and inviting. The bathroom features an updated shower/tub with new walls, a stylish vanity, and upgraded hardware. Enjoy the warmth of wood flooring in the kitchen, dining area, and hallway, complemented by brand-new carpet in the living room and bedroom. The spacious bedroom includes a large closet for ample storage. Fresh paint throughout gives the home a bright, clean feel. Additional highlights include a carport, Maytag washer and dryer in the basement, refrigerator and stove, and the peace of mind of a back-up generator. This move-in-ready unit combines modern updates with everyday convenience in a serene lakeside setting.

2. 2025-08-13
   status Pending

   Show marketing remark (913 chars)

   This beautifully updated first-floor unit offers comfort, style, and a stunning lake view from the patio in this 55+ community. The kitchen has been refreshed with updated cabinets, sleek new countertops, a modern faucet, and an above-range microwave, making it both functional and inviting. The bathroom features an updated shower/tub with new walls, a stylish vanity, and upgraded hardware. Enjoy the warmth of wood flooring in the kitchen, dining area, and hallway, complemented by brand-new carpet in the living room and bedroom. The spacious bedroom includes a large closet for ample storage. Fresh paint throughout gives the home a bright, clean feel. Additional highlights include a carport, Maytag washer and dryer in the basement, refrigerator and stove, and the peace of mind of a back-up generator. This move-in-ready unit combines modern updates with everyday convenience in a serene lakeside setting.

3. 2025-08-03
   historical Keep Showing-Contgcy Appl 913-char remark

   Show marketing remark (913 chars)

   This beautifully updated first-floor unit offers comfort, style, and a stunning lake view from the patio in this 55+ community. The kitchen has been refreshed with updated cabinets, sleek new countertops, a modern faucet, and an above-range microwave, making it both functional and inviting. The bathroom features an updated shower/tub with new walls, a stylish vanity, and upgraded hardware. Enjoy the warmth of wood flooring in the kitchen, dining area, and hallway, complemented by brand-new carpet in the living room and bedroom. The spacious bedroom includes a large closet for ample storage. Fresh paint throughout gives the home a bright, clean feel. Additional highlights include a carport, Maytag washer and dryer in the basement, refrigerator and stove, and the peace of mind of a back-up generator. This move-in-ready unit combines modern updates with everyday convenience in a serene lakeside setting.

4. 2025-08-03
   historical Active Under Contract

   Show marketing remark (913 chars)

   This beautifully updated first-floor unit offers comfort, style, and a stunning lake view from the patio in this 55+ community. The kitchen has been refreshed with updated cabinets, sleek new countertops, a modern faucet, and an above-range microwave, making it both functional and inviting. The bathroom features an updated shower/tub with new walls, a stylish vanity, and upgraded hardware. Enjoy the warmth of wood flooring in the kitchen, dining area, and hallway, complemented by brand-new carpet in the living room and bedroom. The spacious bedroom includes a large closet for ample storage. Fresh paint throughout gives the home a bright, clean feel. Additional highlights include a carport, Maytag washer and dryer in the basement, refrigerator and stove, and the peace of mind of a back-up generator. This move-in-ready unit combines modern updates with everyday convenience in a serene lakeside setting.

5. 2025-04-23
   status Active
6. 2025-04-09
   historical
7. 2025-04-08
   listed $99,900 Active 913-char remark

   Show marketing remark (913 chars)

   This beautifully updated first-floor unit offers comfort, style, and a stunning lake view from the patio in this 55+ community. The kitchen has been refreshed with updated cabinets, sleek new countertops, a modern faucet, and an above-range microwave, making it both functional and inviting. The bathroom features an updated shower/tub with new walls, a stylish vanity, and upgraded hardware. Enjoy the warmth of wood flooring in the kitchen, dining area, and hallway, complemented by brand-new carpet in the living room and bedroom. The spacious bedroom includes a large closet for ample storage. Fresh paint throughout gives the home a bright, clean feel. Additional highlights include a carport, Maytag washer and dryer in the basement, refrigerator and stove, and the peace of mind of a back-up generator. This move-in-ready unit combines modern updates with everyday convenience in a serene lakeside setting.

8. 2025-04-08
   listed $99,900 Active

   Show marketing remark (913 chars)

   This beautifully updated first-floor unit offers comfort, style, and a stunning lake view from the patio in this 55+ community. The kitchen has been refreshed with updated cabinets, sleek new countertops, a modern faucet, and an above-range microwave, making it both functional and inviting. The bathroom features an updated shower/tub with new walls, a stylish vanity, and upgraded hardware. Enjoy the warmth of wood flooring in the kitchen, dining area, and hallway, complemented by brand-new carpet in the living room and bedroom. The spacious bedroom includes a large closet for ample storage. Fresh paint throughout gives the home a bright, clean feel. Additional highlights include a carport, Maytag washer and dryer in the basement, refrigerator and stove, and the peace of mind of a back-up generator. This move-in-ready unit combines modern updates with everyday convenience in a serene lakeside setting.

9. 2025-04-07
   historical $99,900 913-char remark

   Show marketing remark (913 chars)

   This beautifully updated first-floor unit offers comfort, style, and a stunning lake view from the patio in this 55+ community. The kitchen has been refreshed with updated cabinets, sleek new countertops, a modern faucet, and an above-range microwave, making it both functional and inviting. The bathroom features an updated shower/tub with new walls, a stylish vanity, and upgraded hardware. Enjoy the warmth of wood flooring in the kitchen, dining area, and hallway, complemented by brand-new carpet in the living room and bedroom. The spacious bedroom includes a large closet for ample storage. Fresh paint throughout gives the home a bright, clean feel. Additional highlights include a carport, Maytag washer and dryer in the basement, refrigerator and stove, and the peace of mind of a back-up generator. This move-in-ready unit combines modern updates with everyday convenience in a serene lakeside setting.

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

Taxation est. · year 1

• Rental income: $20,876
• − Mortgage interest: −$5,596
• − Property taxes: −$1,498
• − Insurance: −$500
• − Repairs & maintenance: −$1,670
• − Management: −$1,670
• − HOA: −$3,900
• − Depreciation: −$2,906
• Taxable income: $3,135
• Est. tax owed @ 24.0%: −$752
• After-tax cash flow: $3,555/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: South Lyon Community Schools
• NCES district ID: 2632250
• Math proficiency: 46% ▼ -10.00%
• Reading proficiency: 59% ▼ -4.00%
• Median HH income: $71,419
• Composite: 46.86/100
• National rank: #2372
• State rank: #74 of 540 in MI

Livability — South Lyon

• Score: 83/100
• State rank: #46
• US rank: #953

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 37,789
• Population (ZIP): 9,141

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 (76%)
• Race & ethnicity: White 76% Asian 11% Two or more races 10% Hispanic / Latino 8% Black 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 9% Italian 2% Lithuanian 2%
• Foreign-born: 8% · Canada, Vietnam, China
• Languages at home: 87% English-only · Other Asian/Pacific 6% Spanish 4% Vietnamese 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: ▼ -169.34%
• Current HPI: 211.8766
• 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

9 events — show timeline

• 2025-08-13 Pending — MiRealSource-MiMLS
• 2025-08-13 Pending — REALCOMP
• 2025-08-03 Contingent — MiRealSource-MiMLS
• 2025-08-03 Contingent — REALCOMP
• 2025-04-23 Relisted — REALCOMP
• 2025-04-09 Listing Removed — REALCOMP
• 2025-04-08 Listed $99,900 MiRealSource-MiMLS
• 2025-04-08 Listed $99,900 REALCOMP
• 2025-04-07 Coming Soon $99,900 MiRealSource-MiMLS