1198 Neafie Ave · Pontiac, MI 48342

$130,000

3 bd · 1.0 ba · 1,127 sqft · SingleFamily public records · 3 Days on market

Built 1958 6,098 sqft lot Est $165k · 21% under

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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 +24.6/30.0
• ARV discount +15.0/15.0
• DSCR +8.0/10.0
• 1% rule +5.8/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for your first investment property or a cash-flowing addition to your portfolio? Look no further! This well-maintained rental property features an updated kitchen, three generously sized bedrooms, and vaulted ceilings that create an open, airy feel. The property is currently registered as a rental and has been consistently maintained. The current tenant has occupied the home since 2021, is current on rent and water payments, and is on a month-to-month lease. All utilities and lawn/snow are tenant responsibility. The tenant would like to remain, offering a potential opportunity for immediate rental income. Property is being sold as a package only with MLS#20261044990.

Key facts

• Updated kitchen
• Vaulted ceilings
• 6,098 sq ft lot

Tags

• UPDATED KITCHEN
• VAULTED CEILINGS
• IMMEDIATE RENTAL INCOME

Property features AI

Exterior

• Parking: Carport; No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level; Ground-level entry; Brick construction
• Construction: Brick exterior; Slab foundation
• Exterior features: Paved road access; Lot approximately 0.14 acres (50 x 120)

Interior

• Kitchen: Dishwasher; Disposal; Gas range; Refrigerator; Microwave
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating (natural gas)
• Interior features: Dishwasher; Disposal; Free-standing gas range; Free-standing refrigerator; Microwave; 6 total rooms

🏷️ Possibly a rental listed for sale. The $130,000 price doesn't fit this home's estimated sale value (~$164,542) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $270 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Cap rate 8.8% 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: 87 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 12y 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.
• Current owner paid $21k; list at $130k implies a 519% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $130,000

Questions for the listing agent

1. Built in 1958 — 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. 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?
4. 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?
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: 1.08% ✓
• Cap rate: 8.78%
• Cash-on-cash: 8.89%
• DSCR: 1.40
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $164,542
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
483 Lynch Ave	0.17mi	3/1.0	1,032 (-8%)	8mo	$150,000	$145	71
476 Thors St	0.19mi	3/1.0	1,032 (-8%)	15mo	$167,000	$162	65
494 Thors St	0.20mi	3/1.0	1,010 (-10%)	12mo	$175,000	$173	63
1182 Dudley Ave	0.11mi	3/1.0	967 (-14%)	12mo	$190,000	$196	61
715 Kenilworth Ave	0.71mi	3/1.0	1,102 (-2%)	3mo	$130,000	$118	61
735 Cameron Ave	0.70mi	3/1.0	1,102 (-2%)	5mo	$142,000	$129	59
417 Kuhn St	0.15mi	3/1.0	980 (-13%)	15mo	$169,900	$173	59
493 Emerson Ave	0.36mi	3/1.0	1,020 (-10%)	15mo	$149,000	$146	55
184 N Astor St	0.74mi	3/1.0	1,046 (-7%)	1mo	$95,100	$91	53
473 Emerson Ave	0.35mi	3/1.0	1,003 (-11%)	19mo	$139,400	$139	50
448 Broadway St	0.64mi	3/1.0	1,056 (-6%)	16mo	$140,000	$133	46
724 Kenilworth Ave	0.71mi	3/1.5	957 (-15%)	15mo	$175,000	$183	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.8%
• Equity multiple: 0.89×
• Total profit: $-3,900
• Equity at exit: $19,383

10-year hold

• IRR: 6.8%
• Equity multiple: 1.51×
• Total profit: $18,661
• Equity at exit: $11,240

Cash invested: $36,400 (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 48342

• Home prices YoY: -33.8%
• Active inventory: 87
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,401 high
• Mortgage (P&I): −$682
• Tax from tax record: −$101 /mo · $1,213/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $270

Break-even live

Break-even rent $1,059

Max offer price $130,000

Occupancy floor 76%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1173 Featherstone Rd Pontiac, MI	3.0	1.5	970	$1,495	$1.54	24d	1	0.13mi
750 Scottwood St Pontiac, MI	3.0	1.0	920	$1,395	$1.52	12d	1	0.88mi
16 Victory Dr Unit 18 Pontiac, MI	2.0	1.0	1118	$1,150	$1.03	43d	1	1.08mi
16 Victory Dr Unit 18 Pontiac, MI	2.0	1.0	1114	$1,150	$1.03	24d	1	1.08mi
188 Vernon Dr Pontiac, MI	3.0	1.0	1100	$1,500	$1.36	24d	1	1.11mi
957 Perry St Pontiac, MI	1.0–3.0	1.0	835	$1,099	$1.32	43d	1	1.12mi
672 Linda Vista Dr Pontiac, MI	3.0	1.0	900	$1,500	$1.67	3d	1	1.15mi
107 N Sanford St Pontiac, MI	4.0	1.5	1467	$1,750	$1.19	43d	1	1.26mi
90 Martin Luther King Jr Blvd S Pontiac, MI	2.0	1.0	900	$1,000	$1.11	43d	1	1.28mi
51 S Francis St Unit 4 Pontiac, MI	2.0	1.0	850	$1,000	$1.18	43d	1	1.34mi
83 S Edith St Pontiac, MI	2.0	1.0	818	$1,450	$1.77	24d	1	1.35mi
68 N Shirley St Pontiac, MI	3.0	1.0	950	$1,395	$1.47	17d	1	1.37mi
38 N Shirley St Pontiac, MI	3.0	1.0	1174	$1,425	$1.21	43d	1	1.40mi
611 E Madison Ave Pontiac, MI	3.0	1.5	950	$1,395	$1.47	43d	1	1.43mi
505 Old Oak Ct Pontiac, MI	2.0	1.0	1100	$1,299	$1.18	43d	1	1.45mi
128 S Edith St Pontiac, MI	2.0–3.0	2.0	1155	$1,700	$1.47	17d	1	1.45mi
264 Nelson St Pontiac, MI	3.0	1.0	1478	$1,590	$1.08	43d	1	1.46mi
505 Old Oak Ct Unit 7 Pontiac, MI	2.0	1.0	950	$1,279	$1.35	43d	1	1.48mi
695 1st Ave Pontiac, MI	3.0	1.0	986	$1,295	$1.31	43d	1	1.50mi

Listing history 4 events

1. 2026-06-18
   days on market $130,000 Active 3 DOM
2. 2026-06-17
   days on market $130,000 Active 2 DOM
3. 2026-06-16
   remarks 683-char remark
4. 2026-06-16
   listed $130,000 Active 1 DOM

ⓘ 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: $1,213 · $101/mo
• Projected year-2 tax: $1,608 · $134/mo
• Expected delta: +$394/yr (+$33/mo · 32.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°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: $16,812
• − Mortgage interest: −$7,282
• − Property taxes: −$1,213
• − Insurance: −$650
• − Repairs & maintenance: −$1,345
• − Management: −$1,345
• − Depreciation: −$3,782
• Taxable income: $1,195
• Est. tax owed @ 24.0%: −$287
• After-tax cash flow: $2,951/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
• City population: 44,593
• Population (ZIP): 17,227

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 0.62)
• Race & ethnicity: Black 57% Hispanic / Latino 19% White 13% Two or more races 13% Asian 4%
• Hispanic origin (detail): Mexican 11% Puerto Rican 2%
• Common ancestry: Romanian 1% Lithuanian 1% Italian 1%
• Foreign-born: 10% · Canada, Vietnam
• Languages at home: 79% English-only · Spanish 15% Other Asian/Pacific 4% Other Indo-European 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: ▼ -109.18%
• Current HPI: 214.3258
• 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

+519.0% since first listed

10 events — show timeline

• 2026-06-15 Listed $130,000 REALCOMP
• 2026-06-15 Listed $130,000 MiRealSource-MiMLS
• 2015-03-26 Sold (MLS) $21,000 MiRealSource-MiMLS
• 2015-03-26 Sold (MLS) $21,000 MiRealSource-MiMLS
• 2015-03-26 Sold (MLS) $21,000 REALCOMP
• 2015-01-29 Listing Removed — REALCOMP
• 2015-01-29 Pending — MiRealSource-MiMLS
• 2014-12-12 Listed $21,000 MiRealSource-MiMLS
• 2014-12-04 Listed $21,000 REALCOMP
• 2014-12-04 Listed $21,000 MiRealSource-MiMLS

Property tax history

+4.9%/yr

Latest (2025): $1,213 · +2.7% YoY. Source: county tax records.