475 North Maple #20 · Saline, MI 48176

$56,900

3 bd · 2.0 ba · 1,056 sqft · Other · 183 Days on market

Built 2025 ↓ 27% 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 +7.5/15.0
• Schools +5.9/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Your brand new 3 bedroom, 2 bathroom home is waiting for you to move in! This comfortable home features premium entry doors, a modern bathroom, as well as new brand name appliances. In the community, enjoy with your friends and family all the amenities we have to offer such as community events, , and . This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

Key facts

• Built 2025
• Listed 182 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $57k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $57k).
• Recommended offer: $50k (12.0% below list) — sets the bar for market timing.
• Cap rate 29.9% vs local median 2.1% in Saline — 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 81/100 on livability (#67 in MI, #1,442 nationally) — a professional / high-income tenant draw. Strengths: schools A+, housing A+, health & safety A+; Watch: amenities D, commute F.
• Saline Area Schools (suburban): math 59% / reading 70% proficiency, ranked #20 of 540 in MI (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 8% free/reduced lunch — higher-income household profile.
• Market conditions: 226 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $393 of loan paydown is wiped out by about $2k 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 + 3.0% rent growth), your $16k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 183 days — a 12% lower offer ($50k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $22k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $50,072 (12.0% below list)

Questions for the listing agent

1. It's been on market 183 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. Schools are A-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?
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: 3.37% ✓
• Cap rate: 29.92%
• Cash-on-cash: 84.37%
• DSCR: 4.75
• GRM: 2.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 84.8%
• Equity multiple: 4.90×
• Total profit: $62,152
• Equity at exit: $8,484

10-year hold

• IRR: 88.0%
• Equity multiple: 10.17×
• Total profit: $146,104
• Equity at exit: $4,920

Cash invested: $15,932 (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 48176

• Active inventory: 226
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,916 medium
• Mortgage (P&I): −$298
• Tax est. 1.5%: −$71 /mo · $854/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $1,120

Break-even live

Break-even rent $498

Max offer price $56,900

Occupancy floor 37%

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: $14,225
• Closing costs: $1,707
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
203 S Harris St Saline, MI	2.0	1.0	950	$1,700	$1.79	43d	1	0.61mi
814 Claudine Ct Saline, MI	2.0–3.0	2.0–2.5	1436	$2,999	$2.09	13d	1	0.67mi
135 W Michigan Ave Saline, MI	2.0	1.0	832	$1,400	$1.68	21d	1	0.72mi
801 Valley Cir Dr Saline, MI	2.0	1.0	885	$1,360	$1.54	13d	12	1.49mi

Listing history 8 events

1. 2026-04-15
   price $56,900 448-char remark

   Show marketing remark (448 chars)

   Your brand new 3 bedroom, 2 bathroom home is waiting for you to move in! This comfortable home features premium entry doors, a modern bathroom, as well as new brand name appliances. In the community, enjoy with your friends and family all the amenities we have to offer such as community events, , and . This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

2. 2026-04-14
   price $59,900 448-char remark

   Show marketing remark (448 chars)

   Your brand new 3 bedroom, 2 bathroom home is waiting for you to move in! This comfortable home features premium entry doors, a modern bathroom, as well as new brand name appliances. In the community, enjoy with your friends and family all the amenities we have to offer such as community events, , and . This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

3. 2026-03-18
   status Active 448-char remark

   Show marketing remark (448 chars)

   Your brand new 3 bedroom, 2 bathroom home is waiting for you to move in! This comfortable home features premium entry doors, a modern bathroom, as well as new brand name appliances. In the community, enjoy with your friends and family all the amenities we have to offer such as community events, , and . This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

4. 2026-03-12
   historical 448-char remark

   Show marketing remark (448 chars)

   Your brand new 3 bedroom, 2 bathroom home is waiting for you to move in! This comfortable home features premium entry doors, a modern bathroom, as well as new brand name appliances. In the community, enjoy with your friends and family all the amenities we have to offer such as community events, , and . This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

5. 2026-02-27
   price $62,400 448-char remark

   Show marketing remark (448 chars)

   Your brand new 3 bedroom, 2 bathroom home is waiting for you to move in! This comfortable home features premium entry doors, a modern bathroom, as well as new brand name appliances. In the community, enjoy with your friends and family all the amenities we have to offer such as community events, , and . This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

6. 2026-02-01
   price $69,400 448-char remark

   Show marketing remark (448 chars)

   Your brand new 3 bedroom, 2 bathroom home is waiting for you to move in! This comfortable home features premium entry doors, a modern bathroom, as well as new brand name appliances. In the community, enjoy with your friends and family all the amenities we have to offer such as community events, , and . This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

7. 2026-01-06
   price $69,900 448-char remark

   Show marketing remark (448 chars)

   Your brand new 3 bedroom, 2 bathroom home is waiting for you to move in! This comfortable home features premium entry doors, a modern bathroom, as well as new brand name appliances. In the community, enjoy with your friends and family all the amenities we have to offer such as community events, , and . This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

8. 2025-11-17
   listed $78,400 Active 448-char remark

   Show marketing remark (448 chars)

   Your brand new 3 bedroom, 2 bathroom home is waiting for you to move in! This comfortable home features premium entry doors, a modern bathroom, as well as new brand name appliances. In the community, enjoy with your friends and family all the amenities we have to offer such as community events, , and . This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,988
• − Mortgage interest: −$3,187
• − Property taxes: −$854
• − Insurance: −$284
• − Repairs & maintenance: −$1,839
• − Management: −$1,839
• − Depreciation: −$1,655
• Taxable income: $13,329
• Est. tax owed @ 24.0%: −$3,199
• After-tax cash flow: $10,243/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: Saline Area Schools
• NCES district ID: 2630660
• Math proficiency: 59% ▼ -11.00%
• Reading proficiency: 70% ▼ -2.00%
• Median HH income: $96,722
• Composite: 59.23/100
• National rank: #939
• State rank: #20 of 540 in MI

Livability — Saline

• Score: 81/100
• State rank: #67
• US rank: #1442

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Saline, MI
• County: Washtenaw County · 306,860 people
• City population: 23,451
• Metro: Ann Arbor, MI
• Population (ZIP): 23,451
• Household income: $114,206
• Rent vs Own: 16.2% rent · 83.8% own
• Severe rent burden: 315.0

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 (85%)
• Race & ethnicity: White 85% Two or more races 6% Hispanic / Latino 5% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Romanian 8% Lithuanian 3% Iranian 3%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 90% English-only · Other Indo-European 3% Spanish 2% Chinese 1%

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: ▼ -133.08%
• Current HPI: 192.5282
• Rent YoY: —
• 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

-27.4% since first listed

8 events — show timeline

• 2026-04-15 Price Changed $56,900 Zillow
• 2026-04-14 Price Changed $59,900 Zillow
• 2026-03-18 Relisted — Zillow
• 2026-03-12 Delisted — Zillow
• 2026-02-27 Price Changed $62,400 Zillow
• 2026-02-01 Price Changed $69,400 Zillow
• 2026-01-06 Price Changed $69,900 Zillow
• 2025-11-17 Listed $78,400 Zillow