226 Ruppert St · Wolverine Lake, MI 48382

$300,000

4 bd · 1.5 ba · 1,496 sqft · SingleFamily public records · 2 Days on market

Built 1970 10,019 sqft lot Est $254k · 18% over $16/mo HOA

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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 +27.2/30.0
• DSCR +9.5/10.0
• 1% rule +6.7/10.0
• Schools +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this well-maintained 1,500 sq. ft. tri-level home offering comfortable living spaces and desirable North Commerce Lake access. Located within the highly regarded Walled Lake School District, this charming home features three generously sized bedrooms, a full dual-entry bathroom, and a convenient powder room. The spacious living room is filled with natural light from a large picture window, while the oversized family room provides the perfect space for relaxing or entertaining. An updated eat-in kitchen offers abundant cabinetry, ample counter space, and a sliding door leading to a beautiful brick paver patio - ideal for outdoor dining and gatherings. Additional highlights in

Key facts

• Lake privileges
• Brick paver patio
• Fenced backyard

Tags

• NORTH COMMERCE LAKE ACCESS
• UPDATED EAT-IN KITCHEN
• BRICK PAVER PATIO
• FENCED BACKYARD
• UNDERGROUND SPRINKLER SYSTEM
• LAKE PRIVILEGES

Property features AI

Finance

• HOA & community: Has association fee — $191 yearly; fee includes trash removal; Association phone available

Exterior

• Parking: Attached 2-car garage with electric and garage door opener and direct access
• Security: Pets allowed
• Utilities: Private well water; Septic sewer; Gas water heater
• Home design: Tri-level residential home; Built in 1970; Entry-level living and lower-level family room
• Construction: Basement and slab foundation
• Exterior features: Aluminum and vinyl siding; Fenced yard; Lawn sprinkler system; Patio; Access to All Sports lake and lake/river privileges (North Commerce)

Interior

• Kitchen: Ceramic floor; Kitchen approx. 12 x 11; Dishwasher; Range/Oven; Microwave; Refrigerator
• Bedrooms: Bedroom 1 (second level) — 14 x 10, carpet; Bedroom 2 (second level) — 10 x 12, carpet; Bedroom 3 (second level) — approx. 11, carpet
• Flooring: Carpet in main living areas and bedrooms; Ceramic flooring in kitchen and bathrooms
• Bathrooms: One full bathroom (second level) with ceramic flooring — approx. 10 x 8; One lavatory (entry level) with ceramic flooring — approx. 5 x 4
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; Ceiling fans
• Interior features: DSL available; Finished basement
• Laundry & utility: Washer and dryer included; Laundry room (lower level) approx. 21 x 8

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $860 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $300k).
• Cap rate 9.7% vs local median 3.3% in Wolverine Lake — 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 73/100 on livability (#204 in MI) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: schools D, amenities F, commute F.
• Walled Lake Consolidated Schools (suburban): math 52% / reading 60% proficiency, ranked #58 of 540 in MI (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: 176 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $2k of loan paydown is wiped out by about $9k 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 $84k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $300,000

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.17% ✓
• Cap rate: 9.73%
• Cash-on-cash: 12.28%
• DSCR: 1.55
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $254,320
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
157 Cardinal St	0.15mi	3/1.5 (-1)	1,500 (+0%)	11mo	$231,000	$154	78
4975 Comstock St	0.57mi	3/2.0 (-1)	1,547 (+3%)	3mo	$330,000	$213	58
9681 Listeria St	0.44mi	3/2.0 (-1)	1,480 (-1%)	18mo	$300,000	$203	56
3266 Rio Vista St	0.58mi	4/1.0	1,601 (+7%)	5mo	$269,900	$169	55
4836 Sundew St	0.68mi	3/2.0 (-1)	1,502 (+0%)	8mo	$256,000	$170	54
4775 Halberd St	0.61mi	3/1.5 (-1)	1,580 (+6%)	4mo	$239,000	$151	54
144 Bobolink Ave	0.24mi	3/1.0 (-1)	1,700 (+14%)	8mo	$280,000	$165	52
4792 Broadway St	0.41mi	3/1.5 (-1)	1,582 (+6%)	20mo	$245,000	$155	49
650 Polvadera St	0.36mi	3/1.5 (-1)	1,320 (-12%)	15mo	$295,000	$223	47
4703 Halberd St	0.56mi	3/2.0 (-1)	1,577 (+5%)	16mo	$275,000	$174	45
3090 Twinleaf St	0.75mi	3/1.0 (-1)	1,644 (+10%)	3mo	$315,000	$192	39
3166 Arbutus St	0.69mi	3/2.0 (-1)	1,708 (+14%)	4mo	$280,000	$164	34

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: 1.9%
• Equity multiple: 1.07×
• Total profit: $6,099
• Equity at exit: $44,731

10-year hold

• IRR: 11.5%
• Equity multiple: 1.90×
• Total profit: $75,621
• Equity at exit: $25,939

Cash invested: $84,000 (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 48382

• Active inventory: 176
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $3,500 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$191 /mo · $2,291/yr
• Insurance: −$125
• HOA: −$16
• Vacancy / Maint / Mgmt: −$735
• Net cashflow: $860

Break-even live

Break-even rent $2,412

Max offer price $300,000

Occupancy floor 70%

Sensitivity live

Price	-10% $1,030	-5% $945	+0% $860	+5% $775	+10% $690
Rent	-10% $583	-5% $722	+0% $860	+5% $998	+10% $1,136
Rate	-1.0pp $1,011	-0.5pp $936	base $860	+0.5pp $782	+1.0pp $703

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
486 Charlevoix St Commerce Township, MI	3.0	2.0	1740	$3,500	$2.01	0d	1	1.45mi

HOA detail

• Monthly dues: $16 · $192/yr

Listing history 6 events

1. 2026-06-17
   status $300,000 Pending 2 DOM
2. 2026-06-16
   days on market $300,000 Active 2 DOM
3. 2026-06-15
   days on marketlisting id $300,000 Active 1 DOM
4. 2026-06-15
   days on market $300,000 Active 3 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $300,000 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: $2,291 · $191/mo
• Projected year-2 tax: $3,456 · $288/mo
• Expected delta: +$1,164/yr (+$97/mo · 50.8%)

ⓘ 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 ≥95°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: $42,000
• − Mortgage interest: −$16,805
• − Property taxes: −$2,291
• − Insurance: −$1,500
• − Repairs & maintenance: −$3,360
• − Management: −$3,360
• − HOA: −$192
• − Depreciation: −$8,727
• Taxable income: $5,765
• Est. tax owed @ 24.0%: −$1,384
• After-tax cash flow: $8,934/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: Walled Lake Consolidated Schools
• NCES district ID: 2635160
• Math proficiency: 52% ▼ -4.00%
• Reading proficiency: 60% ▼ -1.00%
• Median HH income: $69,184
• Composite: 49.57/100
• National rank: #1987
• State rank: #58 of 540 in MI

Livability — Wolverine Lake

• Score: 73/100
• State rank: #204
• US rank: #5186

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 23,550

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 (86%)
• Race & ethnicity: White 86% Two or more races 5% Hispanic / Latino 4% Asian 3% Black 3%
• Common ancestry: Romanian 11% Lithuanian 3% Slovak 3%
• Foreign-born: 9% · Canada, China, South Korea
• Languages at home: 90% English-only · Other Indo-European 2% Russian/Polish/Slavic 2% Arabic 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: ▼ -265.18%
• Current HPI: 202.3058
• 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

1 event — show timeline

• 2026-06-12 Listed $300,000 MiRealSource-MiMLS

Property tax history

+2.2%/yr

Latest (2025): $2,291 · +3.8% YoY. Source: county tax records.