9740 Russell St · South Lyon, MI 48167

$89,999

3 bd · 2.5 ba · 2,200 sqft · Manufactured · 212 Days on market

Built 1999 Average condition 4,356 sqft lot $41/sqft · 6% above area Est $85k · 6% over $790/mo HOA · 36% of rent ↓ 5% since listing

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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 +4.9/15.0
• Schools +4.7/10.0
• Livability +4.2/5.0
• Rent growth +3.5/5.0
• Condition / age +2.8/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Only one owner ! Very well maintained! 3 bedrooms 2 . 5 bath. Brand New carpet & window trim. Drywall throughout. Primary bedroom is huge, and features a large closet, and large ensuite with garden tub, & separate shower. Additionally 2 more large bedrooms, and a full bath are located on the opposite end of home for added privacy. NIcely appointed kitchen with island, formal dining room, and a giant great room for all your family gatherings. This home also has an oversized utility/laundry/mudroom for extra storage and includes the convenience of a 3rd bathroom. Nicely landscaped with beautiful mature trees and flower beds, and a shed for all your toys & tools. Newer asphalt shingle roof. Buyer to verify all data.

Key facts

• New carpet
• Large closet
• Separate shower

Tags

• NEW CARPET
• LARGE CLOSET
• LARGE ENSUITE
• GARDEN TUB
• SEPARATE SHOWER
• NICELY APPOINTED KITCHEN

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath manufactured listed at $90k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $338 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.8% 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: Rents rising (+4.0%/yr); 221 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 996 units permitted in Washtenaw County in 2024 (492 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Washtenaw County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $25k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 212 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 36% of rent.

Recommended offer $79,199 (12.0% below list)

Questions for the listing agent

1. It's been on market 212 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 2.46% ✓
• Cap rate: 10.79%
• Cash-on-cash: 16.08%
• DSCR: 1.72
• GRM: 3.4

CMA / ARV

• ARV (median comp): $85,062
• List price: $89,999
• Delta: 5.80%
• Verdict: FAIR
• Comps: 12 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.97% rent growth · sell at horizon

5-year hold

• IRR: 9.5%
• Equity multiple: 1.38×
• Total profit: $9,618
• Equity at exit: $13,419

10-year hold

• IRR: 20.3%
• Equity multiple: 2.88×
• Total profit: $47,302
• Equity at exit: $7,781

Cash invested: $25,200 (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 48167

• Rents YoY: 4.0%
• Active inventory: 221
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $2,215 medium
• Mortgage (P&I): −$472
• Tax est. 1.5%: −$112 /mo · $1,350/yr
• Insurance: −$37
• HOA: −$790
• Vacancy / Maint / Mgmt: −$465
• Net cashflow: $338

Break-even live

Break-even rent $1,787

Max offer price $89,999

Occupancy floor 80%

Sensitivity live

Price	-10% $400	-5% $369	+0% $338	+5% $306	+10% $275
Rent	-10% $163	-5% $250	+0% $338	+5% $425	+10% $513
Rate	-1.0pp $383	-0.5pp $360	base $338	+0.5pp $314	+1.0pp $291

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9800 Bloomsbury Cir Northville, MI	3.0	2.0	1456	$1,629	$1.12	3d	1	0.02mi

HOA detail

• Monthly dues: $790 · $9,480/yr

Listing history 19 events

1. 2026-06-21
   days on market $89,999 Active 212 DOM
2. 2026-06-18
   days on market $89,999 Active 209 DOM
3. 2026-06-17
   days on market $89,999 Active 208 DOM
4. 2026-06-16
   days on market $89,999 Active 207 DOM
5. 2026-06-15
   days on market $89,999 Active 206 DOM
6. 2026-06-13
   days on market $89,999 Active 204 DOM
7. 2026-06-13
   days on market $89,999 Active 203 DOM
8. 2026-06-09
   days on market $89,999 Active 200 DOM
9. 2026-06-08
   days on market $89,999 Active 199 DOM
10. 2026-06-07
    days on market $89,999 Active 198 DOM
11. 2026-06-04
    days on market $89,999 Active 195 DOM
12. 2026-06-03
    days on market $89,999 Active 194 DOM
13. 2026-06-02
    days on market $89,999 Active 193 DOM
14. 2026-06-01
    days on market $89,999 Active 192 DOM
15. 2026-05-31
    days on market $89,999 Active 191 DOM
16. 2026-04-25
    price $89,999 739-char remark

    Show marketing remark (739 chars)

    Only one owner ! Very well maintained! 3 bedrooms 2 . 5 bath. Brand New carpet & window trim. Drywall throughout. Primary bedroom is huge, and features a large closet, and large ensuite with garden tub, & separate shower. Additionally 2 more large bedrooms, and a full bath are located on the opposite end of home for added privacy. NIcely appointed kitchen with island, formal dining room, and a giant great room for all your family gatherings. This home also has an oversized utility/laundry/mudroom for extra storage and includes the convenience of a 3rd bathroom. Nicely landscaped with beautiful mature trees and flower beds, and a shed for all your toys & tools. Newer asphalt shingle roof. Buyer to verify all data.

17. 2026-04-24
    price $89,999 739-char remark

    Show marketing remark (739 chars)

    Only one owner ! Very well maintained! 3 bedrooms 2 . 5 bath. Brand New carpet & window trim. Drywall throughout. Primary bedroom is huge, and features a large closet, and large ensuite with garden tub, & separate shower. Additionally 2 more large bedrooms, and a full bath are located on the opposite end of home for added privacy. NIcely appointed kitchen with island, formal dining room, and a giant great room for all your family gatherings. This home also has an oversized utility/laundry/mudroom for extra storage and includes the convenience of a 3rd bathroom. Nicely landscaped with beautiful mature trees and flower beds, and a shed for all your toys & tools. Newer asphalt shingle roof. Buyer to verify all data.

18. 2025-11-20
    listed $95,000 Active 739-char remark

    Show marketing remark (739 chars)

    Only one owner ! Very well maintained! 3 bedrooms 2 . 5 bath. Brand New carpet & window trim. Drywall throughout. Primary bedroom is huge, and features a large closet, and large ensuite with garden tub, & separate shower. Additionally 2 more large bedrooms, and a full bath are located on the opposite end of home for added privacy. NIcely appointed kitchen with island, formal dining room, and a giant great room for all your family gatherings. This home also has an oversized utility/laundry/mudroom for extra storage and includes the convenience of a 3rd bathroom. Nicely landscaped with beautiful mature trees and flower beds, and a shed for all your toys & tools. Newer asphalt shingle roof. Buyer to verify all data.

19. 2025-11-20
    listed $95,000 Active 739-char remark

    Show marketing remark (739 chars)

    Only one owner ! Very well maintained! 3 bedrooms 2 . 5 bath. Brand New carpet & window trim. Drywall throughout. Primary bedroom is huge, and features a large closet, and large ensuite with garden tub, & separate shower. Additionally 2 more large bedrooms, and a full bath are located on the opposite end of home for added privacy. NIcely appointed kitchen with island, formal dining room, and a giant great room for all your family gatherings. This home also has an oversized utility/laundry/mudroom for extra storage and includes the convenience of a 3rd bathroom. Nicely landscaped with beautiful mature trees and flower beds, and a shed for all your toys & tools. Newer asphalt shingle roof. Buyer to verify all data.

ⓘ 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: $26,575
• − Mortgage interest: −$5,041
• − Property taxes: −$1,350
• − Insurance: −$450
• − Repairs & maintenance: −$2,126
• − Management: −$2,126
• − HOA: −$9,480
• − Depreciation: −$2,618
• Taxable income: $3,384
• Est. tax owed @ 24.0%: −$812
• After-tax cash flow: $3,239/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 · 12 photos

Average 55/100 Moderate rehab

This home requires moderate repairs and maintenance to improve its curb appeal and interior condition, with updates to the exterior siding, interior walls, and kitchen cabinets expected to significantly increase its resale value.

Repairs flagged

• Minor exterior siding — Some discoloration
• Minor interior walls — Some discoloration
• Minor kitchen cabinets — Some wear

Value-add opportunities

• Resale Paint exterior siding — Enhances curb appeal
• Resale Replace worn carpet — Improves comfort and appearance
• Resale Update kitchen cabinets — Modernizes space and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Some discoloration	Minor	$500–3,000
interior walls · Some discoloration	Minor	$500–3,000
kitchen cabinets · Some wear	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Resale Paint exterior siding — Enhances curb appeal ↑
• Resale Replace worn carpet — Improves comfort and appearance ↑
• Resale Update kitchen cabinets — Modernizes space and adds 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: 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

• County: Wayne County · 1,562,939 people
• City population: 37,789
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 24,713
• Household income: $124,630
• Rent vs Own: 25.9% rent · 74.1% own
• Severe rent burden: 441.0

Population outlook (Washtenaw County) Hauer SSP2

• Today (2025): 402,878 people
• By 2030: 424,104 · +5.3%
• By 2040: 464,633 · +15.3%
• By 2050: 504,728 · +25.3%
• By 2075: 614,463 · +52.5%
• By 2100: 676,181 · +67.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Asian 10% Two or more races 5% Hispanic / Latino 4% Black 4%
• Common ancestry: Romanian 11% Lithuanian 4% Slovak 3%
• Foreign-born: 15% · Canada, China, South Korea
• Languages at home: 85% English-only · Other Indo-European 4% Other Asian/Pacific 3% Chinese 2%

Political lean MEDSL · Washtenaw

• 2024 margin: Solid D (+44.4) · D 71.0% · R 26.6% · Other 2.4%
• 2008→2024 swing: +3.5pp toward D · 2008: 41.0pp · 2024: 44.4pp
• All cycles: 2024: D+44.4 2020: D+46.6 2016: D+41.5 2012: D+36.0 2008: D+41.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -275.65%
• Current HPI: 176.171
• Rent YoY: ▲ 3.97%
• 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

-5.3% since first listed

4 events — show timeline

• 2026-04-25 Price Changed $89,999 MiRealSource-MiMLS
• 2026-04-24 Price Changed $89,999 REALCOMP
• 2025-11-20 Listed $95,000 REALCOMP
• 2025-11-20 Listed $95,000 MiRealSource-MiMLS