7348 Bennett Dr · Whitmore Lake, MI 48189

$200,000

3 bd · 1.0 ba · 1,260 sqft · SingleFamily public records · 26 Days on market

Built 1948 0.55 ac lot Est $290k · 31% 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 +23.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +5.5/10.0
• Schools +3.9/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity to transform this 3 bedroom, 1 bath home situated on a spacious lot. The property features an enclosed patio and offers plenty of potential for the right buyer looking to renovate, invest, or build equity. Property is being sold as-is. Buyers should exercise caution when touring the property. The true value is in the land, with the home sitting on approximately half an acre, offering strong potential for redevelopment or a full renovation project. Property recently appraised for $200k and the appraisal is available with a written offer.

Key facts

• Enclosed patio
• 0.55 acre lot
• Built 1948

Tags

• ENCLOSED PATIO
• SPACIOUS HALF-ACRE LOT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $388 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $197k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 2.8% in Whitmore 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 71/100 on livability (#279 in MI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Pinckney Community Schools (suburban): math 34% / reading 52% proficiency, ranked #135 of 540 in MI (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: 87 active listings in the ZIP; solid renter incomes; 488 units permitted in Livingston County in 2024 (0 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 $6k 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.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($197k) 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.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $197,000 (1.5% below list)

Questions for the listing agent

1. Built in 1948 — 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. 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.
4. 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.
5. 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: 1.05% ✓
• Cap rate: 8.62%
• Cash-on-cash: 8.32%
• DSCR: 1.37
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $289,800
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7345 Bennett Dr	0.02mi	3/2.0	1,372 (+9%)	18mo	$252,000	$184	65
8027 Fair Oaks Dr	0.75mi	3/1.5	1,288 (+2%)	15mo	$296,000	$230	47
11616 Hall Rd	0.60mi	2/2.0 (-1)	1,443 (+14%)	1mo	$435,000	$301	38

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: -3.7%
• Equity multiple: 0.86×
• Total profit: $-7,724
• Equity at exit: $29,821

10-year hold

• IRR: 6.0%
• Equity multiple: 1.45×
• Total profit: $24,955
• Equity at exit: $17,292

Cash invested: $56,000 (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 48189

• Active inventory: 87
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,098 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$137 /mo · $1,642/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $388

Break-even live

Break-even rent $1,606

Max offer price $200,000

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-04-06
   status Pending

   Show marketing remark (560 chars)

   Great opportunity to transform this 3 bedroom, 1 bath home situated on a spacious lot. The property features an enclosed patio and offers plenty of potential for the right buyer looking to renovate, invest, or build equity. Property is being sold as-is. Buyers should exercise caution when touring the property. The true value is in the land, with the home sitting on approximately half an acre, offering strong potential for redevelopment or a full renovation project. Property recently appraised for $200k and the appraisal is available with a written offer.

2. 2026-04-06
   status Pending 560-char remark

   Show marketing remark (560 chars)

   Great opportunity to transform this 3 bedroom, 1 bath home situated on a spacious lot. The property features an enclosed patio and offers plenty of potential for the right buyer looking to renovate, invest, or build equity. Property is being sold as-is. Buyers should exercise caution when touring the property. The true value is in the land, with the home sitting on approximately half an acre, offering strong potential for redevelopment or a full renovation project. Property recently appraised for $200k and the appraisal is available with a written offer.

3. 2026-03-25
   historical Accepting Backup Offers 560-char remark

   Show marketing remark (560 chars)

   Great opportunity to transform this 3 bedroom, 1 bath home situated on a spacious lot. The property features an enclosed patio and offers plenty of potential for the right buyer looking to renovate, invest, or build equity. Property is being sold as-is. Buyers should exercise caution when touring the property. The true value is in the land, with the home sitting on approximately half an acre, offering strong potential for redevelopment or a full renovation project. Property recently appraised for $200k and the appraisal is available with a written offer.

4. 2026-03-25
   historical Active Under Contract

   Show marketing remark (560 chars)

   Great opportunity to transform this 3 bedroom, 1 bath home situated on a spacious lot. The property features an enclosed patio and offers plenty of potential for the right buyer looking to renovate, invest, or build equity. Property is being sold as-is. Buyers should exercise caution when touring the property. The true value is in the land, with the home sitting on approximately half an acre, offering strong potential for redevelopment or a full renovation project. Property recently appraised for $200k and the appraisal is available with a written offer.

5. 2026-03-11
   listed $200,000 Active

   Show marketing remark (560 chars)

   Great opportunity to transform this 3 bedroom, 1 bath home situated on a spacious lot. The property features an enclosed patio and offers plenty of potential for the right buyer looking to renovate, invest, or build equity. Property is being sold as-is. Buyers should exercise caution when touring the property. The true value is in the land, with the home sitting on approximately half an acre, offering strong potential for redevelopment or a full renovation project. Property recently appraised for $200k and the appraisal is available with a written offer.

6. 2026-03-11
   listed $200,000 Active 560-char remark

   Show marketing remark (560 chars)

   Great opportunity to transform this 3 bedroom, 1 bath home situated on a spacious lot. The property features an enclosed patio and offers plenty of potential for the right buyer looking to renovate, invest, or build equity. Property is being sold as-is. Buyers should exercise caution when touring the property. The true value is in the land, with the home sitting on approximately half an acre, offering strong potential for redevelopment or a full renovation project. Property recently appraised for $200k and the appraisal is available with a written offer.

ⓘ 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: $1,642 · $137/mo
• Projected year-2 tax: $2,361 · $197/mo
• Expected delta: +$719/yr (+$60/mo · 43.8%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥97°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: $25,172
• − Mortgage interest: −$11,203
• − Property taxes: −$1,642
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,014
• − Management: −$2,014
• − Depreciation: −$5,818
• Taxable income: $1,481
• Est. tax owed @ 24.0%: −$355
• After-tax cash flow: $4,303/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: Pinckney Community Schools
• NCES district ID: 2628140
• Math proficiency: 34% ▼ -10.00%
• Reading proficiency: 52% ▼ -3.00%
• Median HH income: $74,072
• Composite: 39.21/100
• National rank: #4016
• State rank: #135 of 540 in MI

Livability — Whitmore Lake

• Score: 71/100
• State rank: #279
• US rank: #6864

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

• County: Washtenaw County · 306,860 people
• City population: 13,893
• Metro: Ann Arbor, MI
• Population (ZIP): 13,893
• Household income: $87,145
• Rent vs Own: 20.7% rent · 79.3% own
• Severe rent burden: 105.0

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 (91%)
• Race & ethnicity: White 91% Hispanic / Latino 3% Two or more races 3% Black 2% Asian 1%
• Common ancestry: Romanian 9% Lithuanian 6% Slovak 5%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · French/Haitian/Cajun 1% Spanish 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: ▼ -192.47%
• Current HPI: 187.7383
• 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

+0.0% since first listed

6 events — show timeline

• 2026-04-06 Pending — REALCOMP
• 2026-04-06 Pending — MiRealSource-MiMLS
• 2026-03-25 Contingent — MiRealSource-MiMLS
• 2026-03-25 Contingent — REALCOMP
• 2026-03-11 Listed $200,000 MiRealSource-MiMLS
• 2026-03-11 Listed $200,000 REALCOMP

Property tax history

+3.4%/yr

Latest (2025): $1,642 · +2.8% YoY. Source: county tax records.