2972 E Textile Rd · Pittsfield, MI 48108

$175,000

2 bd · 1.5 ba · 1,296 sqft · SingleFamily public records · 7 Days on market

Built 1945 0.40 ac lot Est $249k · 30% under

---

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 +21.8/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +6.7/10.0
• Schools +6.5/10.0
• Rent growth +3.9/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Very private yard. Home needs complete makeover! Investors, Good location! Needs roof, floors for sure! All room sizes estimated.

Key facts

• 0.4 acre lot
• Built 1945
• Listed 7 days

Property features AI

Exterior

• Utilities: Private well water; Septic system; Natural gas
• Home design: Residential property; One-story structure; Built in 1945
• Construction: Slab foundation; Aluminum exterior; Built in 1945
• Exterior features: Aluminum exterior construction; Gravel road access; Frontage approx. 92 feet; Approximately 0.4 acre lot

Interior

• Kitchen: Kitchen on entry level (approx. 14 x 15)
• Bedrooms: Bedroom 1 on entry level, approximately 12 x 12; Bedroom 2 on entry level, approximately 10 x 10
• Bathrooms: One full bathroom on entry level (approx. 8 x 7); Two total lavatories (one lavatory approx. 5 x 4)
• Heating & cooling: Natural gas fuel; Heating: Other (see remarks); Cooling: Other
• Interior features: 6 total rooms; Living room located on entry level, approximately 15 x 15; Kitchen located on entry level, approximately 14 x 15

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $146 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Ann Arbor Public Schools (urban): math 71% / reading 81% proficiency, ranked #6 of 540 in MI (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Ann Arbor Open At Mack School (math 74% / reading 84%, grade A, #21 of 1,397 statewide, top 2%, 517 students, 11% FRL); Scarlett Middle School (math 37% / reading 57%, grade D+, #143 of 493 statewide, top 30%, 615 students, 53% FRL); Huron High School (math 66% / reading 79%, grade B+, #25 of 713 statewide, top 4%, 1,635 students, 31% FRL).
• Market conditions: Rents rising fast (+5.7%/yr); 148 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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 $25k; list at $175k implies a 600% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo; built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $175,000

Questions for the listing agent

1. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.17% ✓
• Cap rate: 8.15%
• Cash-on-cash: 6.63%
• DSCR: 1.29
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $248,832
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5662 Hampshire Ln	0.58mi	2/2.5	1,487 (+15%)	1mo	$285,000	$192	43

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 · 5.72% rent growth · sell at horizon

5-year hold

• IRR: -7.0%
• Equity multiple: 0.73×
• Total profit: $-13,166
• Equity at exit: $26,093

10-year hold

• IRR: 6.2%
• Equity multiple: 1.53×
• Total profit: $26,123
• Equity at exit: $15,131

Cash invested: $49,000 (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 48108

• Rents YoY: 5.7%
• Active inventory: 148
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,040 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$350 /mo · $4,206/yr
• Insurance: −$73
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $146

Break-even live

Break-even rent $1,856

Max offer price $175,000

Occupancy floor 88%

Sensitivity live

Price	-10% $245	-5% $195	+0% $146	+5% $96	+10% $46
Rent	-10% $-16	-5% $65	+0% $146	+5% $226	+10% $307
Rate	-1.0pp $234	-0.5pp $190	base $146	+0.5pp $100	+1.0pp $54

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5825 Plum Hollow Dr Ypsilanti, MI	1.0–2.0	1.0–2.0	880	$1,909	$2.17	15d	1	0.52mi
5675 Hampshire Ln Unit 1 Ypsilanti, MI	2.0	2.0	1395	$2,000	$1.43	45d	1	0.62mi

Listing history 9 events

1. 2026-06-22
   days on market $175,000 Active 7 DOM
2. 2026-06-18
   days on market $175,000 Active 4 DOM
3. 2026-06-17
   days on market $175,000 Active 3 DOM
4. 2026-06-16
   days on market $175,000 Active 2 DOM
5. 2026-06-15
   remarks 358-char remark
6. 2026-06-15
   days on marketlisting id $175,000 Active 1 DOM
7. 2026-06-15
   days on market $175,000 Active 3 DOM
8. 2026-06-14
   remarks 22-char remark
9. 2026-06-14
   listed $175,000 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: $4,206 · $350/mo
• Projected year-2 tax: $4,206 · $350/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone A · 95% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,483
• − Mortgage interest: −$9,803
• − Property taxes: −$4,206
• − Insurance: −$2,378
• − Repairs & maintenance: −$1,959
• − Management: −$1,959
• − Depreciation: −$5,091
• Taxable loss: −$911
• Est. tax savings @ 24.0%: +$219
• After-tax cash flow: $1,965/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: Ann Arbor Public Schools
• NCES district ID: 2602820
• Math proficiency: 71% ▲ 5.00%
• Reading proficiency: 81% ▲ 11.00%
• Median HH income: $60,768
• Composite: 65.34/100
• National rank: #487
• State rank: #6 of 540 in MI

Livability — Pittsfield

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

Census & demographics

• County: Washtenaw County · 306,860 people
• Metro: Ann Arbor, MI
• Population (ZIP): 27,666
• Household income: $89,355
• Rent vs Own: 44.6% rent · 55.4% own
• Severe rent burden: 1390.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 58% Black 16% Asian 14% Two or more races 8% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 5% Italian 2% Slovak 2%
• Foreign-born: 23% · China, Canada, South Korea
• Languages at home: 72% English-only · Arabic 5% Other Indo-European 5% Chinese 5%

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: ▼ -221.96%
• Current HPI: 216.8067
• Rent YoY: ▲ 5.72%
• Metro: Ann Arbor, 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

+338.6% since first listed

7 events — show timeline

• 2026-06-12 Listed $175,000 MiRealSource-MiMLS
• 2014-12-29 Sold (MLS) $25,000 MiRealSource-MiMLS
• 2014-12-29 Sold (MLS) $25,000 REALCOMP
• 2014-12-22 Listing Removed — REALCOMP
• 2014-12-22 Pending — MiRealSource-MiMLS
• 2014-12-12 Listed $39,900 MiRealSource-MiMLS
• 2014-11-14 Listed $39,900 REALCOMP

Property tax history

+7.8%/yr

Latest (2025): $4,206 · +2.8% YoY. Source: county tax records.