11092 Indianwood Ct · Green Oak, MI 48178

$119,900

3 bd · 2.0 ba · 1,568 sqft · Other · 245 Days on market

Built 2005 4,356 sqft lot $76/sqft · 19% above area Est $101k · 19% over ↓ 4% since listing

---

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 +29.9/30.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Schools +4.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to a beautifully maintained 3-bedroom, 2-bath manufactured home nestled in the tranquil and highly regarded Woodland Ridge Manufactured Home Park. With 1,568 square feet of thoughtfully designed living space, this home offers comfort, convenience, and just the right touch of charm. Step inside to discover vaulted ceilings that create an airy, open feel, complemented by skylights that let in plenty of natural light. The spacious living area blends seamlessly with the dining and kitchen spaces, perfect for both daily living and entertaining. The primary bedroom includes a private full bath, offering a quiet retreat at the end of the day. Function meets ease with features like Trex decking, making outdoor maintenance a breeze, and ramps leading both to the front door and through the garage for easy access. The attached 1.5-car garage isn't just a place to park; it's also a handy extension of your living space, particularly on rainy days when you'd prefer to enter through your own garage. This home is located within the South Lyon School District and welcomes pets, so bring the whole family, including the furry members. Monthly lot rent is $895 and includes access to the community and garbage. There are no property taxes on the house, just $10 per month property tax for the deck and garage. The community amenities cover all the bases: walking trails, a pool for hot summer days, 2 dog parks, tennis and basketball courts, a clubhouse, and a playground for the young, or young at heart. NOTE: Buyers must be approved by the community after an accepted offer. Manufactured home loans are accepted. (Please reach out to me if you need a contact for a Manufactured home loan, I do them). Agents you don't need a special license to bring a buyer, only to list them. BATAVI.

Key facts

• Attached garage
• Trex decking
• Pool

Tags

• VAULTED CEILINGS
• SKYLIGHTS
• TREX DECKING
• ATTACHED GARAGE
• WALKING TRAILS
• POOL

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $120k.

Deal economics

• At list price, monthly cash flow is $444 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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: 345 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 488 units permitted in Livingston County in 2024 (0 in 5+ unit buildings).
• This rent is only 15% of the median local income ($132k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Livingston County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 245 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $105,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 245 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.34% ✓
• Cap rate: 10.74%
• Cash-on-cash: 15.87%
• DSCR: 1.71
• GRM: 6.2

CMA / ARV

• ARV (median comp): $100,778
• List price: $119,900
• Delta: 18.97%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 6.8%
• Equity multiple: 1.26×
• Total profit: $8,868
• Equity at exit: $17,877

10-year hold

• IRR: 16.1%
• Equity multiple: 2.32×
• Total profit: $44,226
• Equity at exit: $10,367

Cash invested: $33,572 (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 48178

• Active inventory: 345
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,611 medium
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,798/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $444

Break-even live

Break-even rent $1,049

Max offer price $119,900

Occupancy floor 67%

Sensitivity live

Price	-10% $527	-5% $485	+0% $444	+5% $402	+10% $361
Rent	-10% $317	-5% $380	+0% $444	+5% $508	+10% $571
Rate	-1.0pp $504	-0.5pp $474	base $444	+0.5pp $413	+1.0pp $381

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11222 Shady Brook Ct Unit 367 South Lyon, MI	4.0	2.0	1680	$1,549	$0.92	0d	1	0.40mi
11803 Stoneridge Ct Unit 307 South Lyon, MI	3.0	2.0	1344	$1,569	$1.17	44d	1	0.50mi

Listing history 18 events

1. 2026-06-18
   days on market $119,900 Active 245 DOM
2. 2026-06-17
   days on market $119,900 Active 244 DOM
3. 2026-06-16
   days on market $119,900 Active 243 DOM
4. 2026-06-15
   days on market $119,900 Active 242 DOM
5. 2026-06-13
   days on market $119,900 Active 240 DOM
6. 2026-06-13
   days on market $119,900 Active 239 DOM
7. 2026-06-09
   days on market $119,900 Active 236 DOM
8. 2026-06-08
   days on market $119,900 Active 235 DOM
9. 2026-06-07
   days on market $119,900 Active 234 DOM
10. 2026-06-04
    days on market $119,900 Active 231 DOM
11. 2026-06-03
    days on market $119,900 Active 230 DOM
12. 2026-06-02
    days on market $119,900 Active 229 DOM
13. 2026-06-01
    days on market $119,900 Active 228 DOM
14. 2026-05-31
    days on market $119,900 Active 227 DOM
15. 2026-02-25
    price $119,900 1794-char remark

    Show marketing remark (1794 chars)

    Welcome to a beautifully maintained 3-bedroom, 2-bath manufactured home nestled in the tranquil and highly regarded Woodland Ridge Manufactured Home Park. With 1,568 square feet of thoughtfully designed living space, this home offers comfort, convenience, and just the right touch of charm. Step inside to discover vaulted ceilings that create an airy, open feel, complemented by skylights that let in plenty of natural light. The spacious living area blends seamlessly with the dining and kitchen spaces, perfect for both daily living and entertaining. The primary bedroom includes a private full bath, offering a quiet retreat at the end of the day. Function meets ease with features like Trex decking, making outdoor maintenance a breeze, and ramps leading both to the front door and through the garage for easy access. The attached 1.5-car garage isn't just a place to park; it's also a handy extension of your living space, particularly on rainy days when you'd prefer to enter through your own garage. This home is located within the South Lyon School District and welcomes pets, so bring the whole family, including the furry members. Monthly lot rent is $895 and includes access to the community and garbage. There are no property taxes on the house, just $10 per month property tax for the deck and garage. The community amenities cover all the bases: walking trails, a pool for hot summer days, 2 dog parks, tennis and basketball courts, a clubhouse, and a playground for the young, or young at heart. NOTE: Buyers must be approved by the community after an accepted offer. Manufactured home loans are accepted. (Please reach out to me if you need a contact for a Manufactured home loan, I do them). Agents you don't need a special license to bring a buyer, only to list them. BATAVI.

16. 2026-02-24
    price $119,900 1812-char remark

    Show marketing remark (1812 chars)

    Welcome to a beautifully maintained 3-bedroom, 2-bath manufactured home nestled in the tranquil and highly regarded Woodland Ridge Manufactured Home Park. With 1,568 square feet of thoughtfully designed living space, this home offers comfort, convenience, and just the right touch of charm. Step inside to discover vaulted ceilings that create an airy, open feel, complemented by skylights that let in plenty of natural light. The spacious living area blends seamlessly with the dining and kitchen spaces, perfect for both daily living and entertaining. The primary bedroom includes a private full bath, offering a quiet retreat at the end of the day. Function meets ease with features like Trex decking, making outdoor maintenance a breeze, and ramps leading both to the front door and through the garage for easy access. The attached 1.5-car garage isn’t just a place to park; it’s also a handy extension of your living space, particularly on rainy days when you’d prefer to enter through your own garage. This home is located within the South Lyon School District and welcomes pets, so bring the whole family, including the furry members. Monthly lot rent is $895 and includes access to the community and garbage. There are no property taxes on the house, just $10 per month property tax for the deck and garage. The community amenities cover all the bases: walking trails, a pool for hot summer days, 2 dog parks, tennis and basketball courts, a clubhouse, and a playground for the young, or young at heart. NOTE: Buyers must be approved by the community after an accepted offer. Manufactured home loans are accepted. (Please reach out to me if you need a contact for a Manufactured home loan, I do them). Agents you don't need a special license to bring a buyer, only to list them. BATAVI.

17. 2025-10-16
    listed $125,000 Active 1794-char remark

    Show marketing remark (1812 chars)

    Welcome to a beautifully maintained 3-bedroom, 2-bath manufactured home nestled in the tranquil and highly regarded Woodland Ridge Manufactured Home Park. With 1,568 square feet of thoughtfully designed living space, this home offers comfort, convenience, and just the right touch of charm. Step inside to discover vaulted ceilings that create an airy, open feel, complemented by skylights that let in plenty of natural light. The spacious living area blends seamlessly with the dining and kitchen spaces, perfect for both daily living and entertaining. The primary bedroom includes a private full bath, offering a quiet retreat at the end of the day. Function meets ease with features like Trex decking, making outdoor maintenance a breeze, and ramps leading both to the front door and through the garage for easy access. The attached 1.5-car garage isn’t just a place to park; it’s also a handy extension of your living space, particularly on rainy days when you’d prefer to enter through your own garage. This home is located within the South Lyon School District and welcomes pets, so bring the whole family, including the furry members. Monthly lot rent is $895 and includes access to the community and garbage. There are no property taxes on the house, just $10 per month property tax for the deck and garage. The community amenities cover all the bases: walking trails, a pool for hot summer days, 2 dog parks, tennis and basketball courts, a clubhouse, and a playground for the young, or young at heart. NOTE: Buyers must be approved by the community after an accepted offer. Manufactured home loans are accepted. (Please reach out to me if you need a contact for a Manufactured home loan, I do them). Agents you don't need a special license to bring a buyer, only to list them. BATAVI.

18. 2025-10-16
    listed $125,000 Active 1812-char remark

    Show marketing remark (1812 chars)

    Welcome to a beautifully maintained 3-bedroom, 2-bath manufactured home nestled in the tranquil and highly regarded Woodland Ridge Manufactured Home Park. With 1,568 square feet of thoughtfully designed living space, this home offers comfort, convenience, and just the right touch of charm. Step inside to discover vaulted ceilings that create an airy, open feel, complemented by skylights that let in plenty of natural light. The spacious living area blends seamlessly with the dining and kitchen spaces, perfect for both daily living and entertaining. The primary bedroom includes a private full bath, offering a quiet retreat at the end of the day. Function meets ease with features like Trex decking, making outdoor maintenance a breeze, and ramps leading both to the front door and through the garage for easy access. The attached 1.5-car garage isn’t just a place to park; it’s also a handy extension of your living space, particularly on rainy days when you’d prefer to enter through your own garage. This home is located within the South Lyon School District and welcomes pets, so bring the whole family, including the furry members. Monthly lot rent is $895 and includes access to the community and garbage. There are no property taxes on the house, just $10 per month property tax for the deck and garage. The community amenities cover all the bases: walking trails, a pool for hot summer days, 2 dog parks, tennis and basketball courts, a clubhouse, and a playground for the young, or young at heart. NOTE: Buyers must be approved by the community after an accepted offer. Manufactured home loans are accepted. (Please reach out to me if you need a contact for a Manufactured home loan, I do them). Agents you don't need a special license to bring a buyer, only to list them. BATAVI.

ⓘ 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: $19,329
• − Mortgage interest: −$6,716
• − Property taxes: −$1,798
• − Insurance: −$600
• − Repairs & maintenance: −$1,546
• − Management: −$1,546
• − Depreciation: −$3,488
• Taxable income: $3,634
• Est. tax owed @ 24.0%: −$872
• After-tax cash flow: $4,455/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: 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 — Green Oak

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Oakland County · 1,009,092 people
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 37,789
• Household income: $131,558
• Rent vs Own: 8.8% rent · 91.2% own
• Severe rent burden: 141.0

Population outlook (Livingston County) Hauer SSP2

• Today (2025): 202,920 people
• By 2030: 209,173 · +3.1%
• By 2040: 216,878 · +6.9%
• By 2050: 217,485 · +7.2%
• By 2075: 217,590 · +7.2%
• By 2100: 197,095 · -2.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 4% Asian 4% Hispanic / Latino 3% Black 1%
• Common ancestry: Romanian 14% Lithuanian 4% Slovak 4%
• Foreign-born: 7% · Canada, South Korea, China
• Languages at home: 93% English-only · Other Indo-European 2% Other Asian/Pacific 1% Chinese 1%

Political lean MEDSL · Livingston

• 2024 margin: Strong R (+23.9) · D 37.4% · R 61.3% · Other 1.3%
• 2008→2024 swing: -10.7pp toward R · 2008: -13.3pp · 2024: -23.9pp
• All cycles: 2024: R+23.9 2020: R+22.6 2016: R+29.6 2012: R+23.3 2008: R+13.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -251.96%
• Current HPI: 197.5122
• 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

-4.1% since first listed

4 events — show timeline

• 2026-02-25 Price Changed $119,900 MiRealSource-MiMLS
• 2026-02-24 Price Changed $119,900 REALCOMP
• 2025-10-16 Listed $125,000 REALCOMP
• 2025-10-16 Listed $125,000 MiRealSource-MiMLS

Property tax history

+2.1%/yr

Latest (2025): $181 · +2.8% YoY. Source: county tax records.