351 North Squirrel Rd Rd #208 · Auburn Hills, MI 48326

$70,000

3 bd · 2.0 ba · 1,152 sqft · SingleFamily

Built 2001 Good condition 4,356 sqft lot $898/mo HOA · 42% 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
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• Schools +3.7/10.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Put your tax return to good use. No property taxes! Nestled on a premier perimeter lot this fantastically maintained leased land manufactured home is ready to welcome a new owner. Major mechanical updates include, Furnace, AC, and HWH(2021), windows(2020), rat fencing(2024), skirting and insulation(2018). The eat in kitchen is a cooks paradise, and private master suite ensures restful nights. Relax on the back porch, and enjoy pleanty of space with 2 additional bedrooms and a large living room. This is a manufactured home on leased land the HOA reflects total monthly fees for resident in the community. 847 Lot rent, 3 site tax, 18 Trash Fee, and 30 maximum community water bill(in addition to residents personal water bill)

Key facts

• 4,356 sq ft lot
• Built 2001

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 $291 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Cap rate 11.3% vs local median 4.3% in Auburn Hills — 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 76/100 on livability (#151 in MI, #3,766 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D+, schools D, amenities F.
• Avondale School District (suburban): math 34% / reading 48% proficiency, ranked #162 of 540 in MI (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-2.3%/yr); 107 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $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.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 42% of rent.

Recommended offer $70,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 3.03% ✓
• Cap rate: 11.28%
• Cash-on-cash: 17.82%
• DSCR: 1.79
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $235,008
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
351 North Squirrel Road #63 Rd	0.00mi	3/2.0	1,196 (+4%)	3mo	$32,500	$27	91
2931 Auburn Rd	0.51mi	3/1.5	1,168 (+1%)	3mo	$192,500	$165	70
3040 Waukegan St	0.74mi	2/2.0 (-1)	1,157 (+0%)	11mo	$225,000	$194	50
141 Robert Ct	0.32mi	3/1.0	1,059 (-8%)	23mo	$220,500	$208	48
59 Cherryland St	0.68mi	3/1.0	1,187 (+3%)	15mo	$242,500	$204	46
286 Schoolcraft St	0.75mi	3/1.5	1,076 (-7%)	19mo	$310,000	$288	37
3041 Waukegan St	0.71mi	3/1.5	1,026 (-11%)	22mo	$225,000	$219	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 2.3%
• Equity multiple: 1.08×
• Total profit: $1,576
• Equity at exit: $10,437

10-year hold

• IRR: 3.7%
• Equity multiple: 1.19×
• Total profit: $3,636
• 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 48326

• Rents YoY: -2.3%
• Active inventory: 107
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $2,118 high
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$88 /mo · $1,050/yr
• Insurance: −$29
• HOA: −$898
• Vacancy / Maint / Mgmt: −$445
• Net cashflow: $291

Break-even live

Break-even rent $1,749

Max offer price $70,000

Occupancy floor 81%

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 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
201 N Squirrel Rd Auburn Hills, MI	2.0–3.0	2.5–3.0	1475	$2,320	$1.57	2d	14	0.24mi
27 S Squirrel Rd Unit 305 Auburn Hills, MI	2.0	2.0	885	$2,245	$2.54	2d	1	0.57mi
124 Optimist Auburn Hills, MI	2.0–3.0	2.0–2.5	1914	$3,535	$1.85	2d	9	0.79mi
3280 S Adams Rd Auburn Hills, MI	2.0	1.0	780	$1,426	$1.83	2d	2	1.09mi
2862 Tall Oaks Ct Auburn Hills, MI	2.0	2.0	987	$1,520	$1.54	2d	6	1.22mi
806 Bloomfield Village Blvd Unit K Auburn Hills, MI	2.0	1.0	881	$1,500	$1.70	44d	1	1.28mi
3161 Bloomfield Ln Auburn Hills, MI	1.0–2.0	1.0–1.5	937	$1,499	$1.60	2d	23	1.29mi
676 Sheffield Rd Auburn Hills, MI	3.0	1.5	1421	$2,495	$1.76	2d	1	1.30mi
2081 Oaknoll St Auburn Hills, MI	2.0	2.0	860	$1,600	$1.86	44d	1	1.45mi

HOA detail

• Monthly dues: $898 · $10,776/yr
• Likely covers: watertrash

Listing history 2 events

1. 2026-06-04
   remarks 699-char remark
2. 2026-06-04
   listed $70,000 Pending

ⓘ 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: $25,411
• − Mortgage interest: −$3,921
• − Property taxes: −$1,050
• − Insurance: −$350
• − Repairs & maintenance: −$2,033
• − Management: −$2,033
• − HOA: −$10,776
• − Depreciation: −$2,036
• Taxable income: $3,211
• Est. tax owed @ 24.0%: −$771
• After-tax cash flow: $2,723/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 · 2 photos

Good 80/100 Cosmetic rehab

This manufactured home is in good condition with recent updates, ready for a new owner. Minor cosmetic improvements could further enhance its value.

Value-add opportunities

• Both Painting exterior siding — Enhances curb appeal and value
• Both Landscaping improvements — Enhances curb appeal and value
• Both Interior touch-ups — Enhances interior appearance and value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior siding — Enhances curb appeal and value ↑
• Both Landscaping improvements — Enhances curb appeal and value ↑
• Both Interior touch-ups — Enhances interior appearance and 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: Avondale School District
• NCES district ID: 2603690
• Math proficiency: 34% ▼ -8.00%
• Reading proficiency: 48% ▼ -4.00%
• Median HH income: $71,549
• Composite: 37.33/100
• National rank: #4442
• State rank: #162 of 540 in MI

Livability — Auburn Hills

• Score: 76/100
• State rank: #151
• US rank: #3766

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Auburn Hills, MI
• County: Oakland County · 1,009,092 people
• City population: 24,514
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 24,514
• Household income: $85,190
• Rent vs Own: 48.3% rent · 51.7% own
• Severe rent burden: 986.0

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 0.64)
• Race & ethnicity: White 56% Asian 15% Black 11% Hispanic / Latino 11% Two or more races 11%
• Hispanic origin (detail): Mexican 7% Puerto Rican 2%
• Common ancestry: Romanian 6% Slovak 2% Lithuanian 2%
• Foreign-born: 19% · Canada, China, Jamaica
• Languages at home: 76% English-only · Spanish 8% Other Indo-European 6% Other Asian/Pacific 4%

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: ▼ -298.32%
• Current HPI: 178.7685
• Rent YoY: ▼ -2.27%
• 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

2 events — show timeline

• 2026-06-03 Listing Removed — MiRealSource-MiMLS
• 2026-06-03 Listed $70,000 MiRealSource-MiMLS