212 Sanderson Ave · Pontiac, MI 48341

$115,000

2 bd · 1.0 ba · 1,262 sqft · SingleFamily public records · 35 Days on market

Built 1910 4,356 sqft lot $91/sqft · 19% below area Est $96k · 20% over

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Why this score? — see what drove the C- 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 +27.3/30.0
• DSCR +9.5/10.0
• 1% rule +6.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Key facts

• 4,356 sq ft lot
• Garage
• Built 1910

Property features AI

Exterior

• Parking: Attached garage (1 car) with garage facing side
• Utilities: Public water; Public sewer
• Home design: Single-family residential; One and one-half story; Ground-level entry with steps
• Construction: Vinyl siding; Block foundation
• Exterior features: Covered porch; Paved road access

Interior

• Kitchen: Free-standing gas oven; Free-standing refrigerator
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Free-standing gas oven; Free-standing refrigerator; Unfinished basement; Five total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $332 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $112k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.8% 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; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).
• This rent runs 31% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 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 $32k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 17y 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.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $111,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.16% ✓
• Cap rate: 9.76%
• Cash-on-cash: 12.38%
• DSCR: 1.55
• GRM: 7.2

CMA / ARV

• ARV (median comp): $95,623
• List price: $115,000
• Delta: 20.26%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
105 Augusta Ave	0.04mi	3/1.5 (+1)	1,231 (-2%)	3mo	$114,000	$93	84
143 Thorpe St	0.40mi	3/1.0 (+1)	1,247 (-1%)	2mo	$174,900	$140	73
75 Green St	0.47mi	3/1.0 (+1)	1,218 (-4%)	2mo	$113,000	$93	66
140 W Howard St	0.52mi	3/1.5 (+1)	1,288 (+2%)	5mo	$105,000	$82	62
69 Lincoln St	0.36mi	3/2.0 (+1)	1,211 (-4%)	7mo	$175,000	$145	62
27 Crawford St	0.63mi	3/1.0 (+1)	1,302 (+3%)	4mo	$94,000	$72	57
93 Poplar Ave	0.73mi	3/1.5 (+1)	1,344 (+6%)	1mo	$191,500	$142	47
63 Mark Ave	0.50mi	3/1.0 (+1)	1,444 (+14%)	1mo	$61,000	$42	47
167 Mark Ave	0.47mi	3/2.0 (+1)	1,415 (+12%)	4mo	$162,000	$114	46
73 Poplar Ave	0.75mi	3/2.5 (+1)	1,367 (+8%)	3mo	$130,000	$95	38
38 Summit St	0.69mi	3/2.5 (+1)	1,361 (+8%)	12mo	$135,000	$99	34
51 Forest St	0.73mi	3/2.5 (+1)	1,361 (+8%)	11mo	$135,000	$99	32

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: 2.0%
• Equity multiple: 1.08×
• Total profit: $2,506
• Equity at exit: $17,147

10-year hold

• IRR: 11.6%
• Equity multiple: 1.91×
• Total profit: $29,336
• Equity at exit: $9,943

Cash invested: $32,200 (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: 7.2×

Monthly cashflow live

• Estimated rent: $1,334 high
• Mortgage (P&I): −$603
• Tax from tax record: −$71 /mo · $850/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $332

Break-even live

Break-even rent $914

Max offer price $115,000

Occupancy floor 70%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5 Carter St Pontiac, MI	1.0	1.0	880	$1,034	$1.18	5d	1	0.40mi
23 Henry Clay Ave Unit 1 Pontiac, MI	3.0	1.0	1200	$1,450	$1.21	18d	1	0.40mi
35 N Saginaw St Unit 2 Pontiac, MI	1.0	1.0	1000	$1,350	$1.35	43d	1	0.60mi
35 N Saginaw St Pontiac, MI	1.0	1.0	1000	$1,350	$1.35	43d	1	0.60mi
38 Spokane Dr Pontiac, MI	2.0	1.0	1000	$1,000	$1.00	43d	1	0.66mi
60 Waldo St Pontiac, MI	3.0	1.0	1100	$1,500	$1.36	5d	1	0.72mi
74 E Iroquois Rd Pontiac, MI	3.0	1.0	1661	$1,695	$1.02	24d	1	0.78mi
223 Tucker St Pontiac, MI	2.0	2.5	1295	$1,700	$1.31	18d	1	0.84mi
49 Oakhill St Pontiac, MI	3.0	1.0	1200	$1,575	$1.31	24d	1	0.92mi
4000 Winston Dr Pontiac, MI	2.0	1.5	1032	$515	$0.50	2d	1	0.95mi
65 Whitfield St Pontiac, MI	3.0	1.0	924	$1,175	$1.27	43d	1	1.03mi
20 Frank St Pontiac, MI	1.0	1.0	995	$800	$0.80	18d	1	1.05mi
27 Sylvan Pontiac, MI	2.0	1.5	1370	$1,175	$0.86	12d	1	1.21mi
949 Boston Ave Unit 1 Waterford Township, MI	2.0	1.0	1220	$1,150	$0.94	21d	1	1.22mi
949 Boston Ave Waterford Twp, MI	2.0	1.0	1320	$1,150	$0.87	43d	1	1.22mi
68 N Shirley St Pontiac, MI	3.0	1.0	950	$1,395	$1.47	18d	1	1.36mi
38 N Shirley St Pontiac, MI	3.0	1.0	1174	$1,425	$1.21	43d	1	1.37mi
995 Lakeview St Waterford, MI	2.0	1.5	884	$1,375	$1.56	24d	1	1.37mi
249 W Wilson Ave Unit 1 Pontiac, MI	3.0	1.0	900	$1,540	$1.71	43d	1	1.38mi
264 Nelson St Pontiac, MI	3.0	1.0	1478	$1,590	$1.08	43d	1	1.41mi

Listing history 22 events

1. 2026-05-04
   historical Accepting Backup Offers
2. 2026-05-04
   historical Active Under Contract
3. 2026-04-23
   listed $115,000 Active
4. 2026-04-23
   listed $115,000 Active
5. 2024-06-24
   historical
6. 2024-06-24
   historical
7. 2024-01-02
   status Active
8. 2024-01-02
   status Active
9. 2024-01-01
   historical
10. 2024-01-01
    historical
11. 2023-10-11
    price $79,000
12. 2023-09-05
    listed $85,000 Active
13. 2023-09-05
    listed $79,000 Active
14. 2017-03-07
    soldstatus $100,000
15. 2009-11-16
    soldstatus $1,980
16. 2009-11-16
    soldstatus $1,980
17. 2009-10-26
    historical
18. 2009-10-07
    listed $1,980
19. 2009-10-07
    listed $1,980
20. 2001-06-15
    soldstatus $10,000
21. 1989-08-17
    soldstatus $10,700
22. 1978-01-06
    soldstatus $13,500

ⓘ 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: $850 · $71/mo
• Projected year-2 tax: $1,310 · $109/mo
• Expected delta: +$461/yr (+$38/mo · 54.2%)

ⓘ 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: $16,012
• − Mortgage interest: −$6,442
• − Property taxes: −$850
• − Insurance: −$575
• − Repairs & maintenance: −$1,281
• − Management: −$1,281
• − Depreciation: −$3,345
• Taxable income: $2,238
• Est. tax owed @ 24.0%: −$537
• After-tax cash flow: $3,451/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

+774.1% since first listed

26 events — show timeline

• 2026-06-08 Sold (MLS) $118,000 MiRealSource-MiMLS
• 2026-06-08 Sold (MLS) $118,000 REALCOMP
• 2026-05-29 Pending — MiRealSource-MiMLS
• 2026-05-29 Pending — REALCOMP
• 2026-05-04 Contingent — MiRealSource-MiMLS
• 2026-05-04 Contingent — REALCOMP
• 2026-04-23 Listed $115,000 REALCOMP
• 2026-04-23 Listed $115,000 MiRealSource-MiMLS
• 2024-06-24 Listing Removed — MiRealSource-MiMLS
• 2024-06-24 Listing Removed — REALCOMP
• 2024-01-02 Relisted — MiRealSource-MiMLS
• 2024-01-02 Relisted — REALCOMP
• 2024-01-01 Listing Removed — MiRealSource-MiMLS
• 2024-01-01 Listing Removed — REALCOMP
• 2023-10-11 Price Changed $79,000 REALCOMP
• 2023-09-05 Listed $79,000 MiRealSource-MiMLS
• 2023-09-05 Listed $85,000 REALCOMP
• 2017-03-07 Sold (Public Records) $100,000 Public Records
• 2009-11-16 Sold (MLS) $1,980 MiRealSource-MiMLS
• 2009-11-16 Sold (MLS) $1,980 REALCOMP
• 2009-10-26 Listing Removed — MiRealSource-MiMLS
• 2009-10-07 Listed $1,980 MiRealSource-MiMLS
• 2009-10-07 Listed $1,980 REALCOMP
• 2001-06-15 Sold (Public Records) $10,000 Public Records
• 1989-08-17 Sold (Public Records) $10,700 Public Records
• 1978-01-06 Sold (Public Records) $13,500 Public Records

Property tax history

+0.6%/yr

Latest (2025): $850 · +2.7% YoY. Source: county tax records.