1219 Portsmouth Dr · Howell, MI 48843

$278,300

4 bd · 3.5 ba · 2,184 sqft · Condo public records · 63 Days on market

Built 2001 $127/sqft · at area comps Est $346k · 20% under $145/mo HOA · 5% of rent ↓ 7% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +13.8/30.0
• 1% rule +5.8/10.0
• DSCR +4.2/10.0
• Schools +4.1/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This lovely home may be exactly what you have been searching for! 4 bedrooms, 3.5 bathroom upscale multilevel living with spacious back deck. Plenty of space and alarge kitchen, near shopping, restaurants and more. Repairs needed. Visit it today to see the possibilities! RESERVE AUCTION PROPERTY- Property sold “AS-IS” without contingencies, repairs, warranties, guarantees or representation as to listing accuracy, property information, photo or other depiction included or described herein. Inspect before bidding.

Key facts

• $145 HOA
• 2 garage spots
• Built 2001

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath condo listed at $278k.

Deal economics

• At list price, monthly cash flow is $25 ($302/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $278k).
• Recommended offer: $262k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.4% vs local median 3.6% in Howell — 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 78/100 on livability (#107 in MI, #2,598 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: commute F.
• Howell Public Schools (suburban): math 41% / reading 52% proficiency, ranked #116 of 540 in MI (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 340 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 488 units permitted in Livingston County in 2024 (0 in 5+ unit buildings).
• This rent runs 38% of the median local income ($95k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 63 days — a 6% lower offer ($262k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 21y ago; this cycle's ask has dropped $26k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $228k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price.

Recommended offer $261,601 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.08% ✓
• Cap rate: 6.40%
• Cash-on-cash: 0.39%
• DSCR: 1.02
• GRM: 7.7

CMA / ARV

• ARV (median comp): $346,450
• List price: $278,300
• Delta: -19.67%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -15.5%
• Equity multiple: 0.45×
• Total profit: $-43,183
• Equity at exit: $41,495

10-year hold

• IRR: -6.9%
• Equity multiple: 0.56×
• Total profit: $-34,275
• Equity at exit: $24,062

Cash invested: $77,924 (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 48843

• Active inventory: 340
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $3,014 high
• Mortgage (P&I): −$1,459
• Tax from tax record: −$635 /mo · $7,626/yr
• Insurance: −$116
• HOA: −$145
• Vacancy / Maint / Mgmt: −$633
• Net cashflow: $25

Break-even live

Break-even rent $2,982

Max offer price $278,300

Occupancy floor 94%

Sensitivity live

Price	-10% $183	-5% $104	+0% $25	+5% $-54	+10% $-132
Rent	-10% $-213	-5% $-94	+0% $25	+5% $144	+10% $263
Rate	-1.0pp $165	-0.5pp $96	base $25	+0.5pp $-47	+1.0pp $-120

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: $69,575
• Closing costs: $8,349
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2102 Steelwood Dr Howell, MI	4.0	2.5	2218	$3,200	$1.44	18d	1	0.48mi
2132 Shale Dr Unit 84 Howell, MI	4.0	2.5	2218	$3,200	$1.44	18d	1	0.54mi
2147 Shale Dr Unit 82HOMESITE 82 Howell, MI	4.0	2.5	2218	$3,200	$1.44	18d	1	0.58mi
1043 Kenny Brook Ln Howell, MI	4.0	2.5	1830	$2,295	$1.25	2d	1	0.83mi
684 Glenlivet St Howell, MI	3.0	3.5	1812	$2,500	$1.38	24d	1	1.37mi

HOA detail condo

• Monthly dues: $145 · $1,740/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 30 events

1. 2026-06-02
   status $278,300 Pending 63 DOM
2. 2026-06-01
   days on market $278,300 Active 63 DOM
3. 2026-05-31
   days on market $278,300 Active 62 DOM
4. 2026-05-08
   price $278,300 549-char remark

   Show marketing remark (529 chars)

   This lovely home may be exactly what you have been searching for! 4 bedrooms, 3.5 bathroom upscale multilevel living with spacious back deck. Plenty of space and alarge kitchen, near shopping, restaurants and more. Repairs needed. Visit it today to see the possibilities! RESERVE AUCTION PROPERTY- Property sold “AS-IS” without contingencies, repairs, warranties, guarantees or representation as to listing accuracy, property information, photo or other depiction included or described herein. Inspect before bidding.

5. 2026-05-08
   price $278,300 529-char remark

   Show marketing remark (529 chars)

   This lovely home may be exactly what you have been searching for! 4 bedrooms, 3.5 bathroom upscale multilevel living with spacious back deck. Plenty of space and alarge kitchen, near shopping, restaurants and more. Repairs needed. Visit it today to see the possibilities! RESERVE AUCTION PROPERTY- Property sold “AS-IS” without contingencies, repairs, warranties, guarantees or representation as to listing accuracy, property information, photo or other depiction included or described herein. Inspect before bidding.

6. 2026-04-22
   price $286,900 549-char remark

   Show marketing remark (549 chars)

   This lovely home may be exactly what you have been searching for! 4 bedrooms, 3.5 bathroom upscale multilevel living with spacious back deck. Plenty of space and alarge kitchen, near shopping, restaurants and more. Repairs needed. Visit it today to see the possibilities! RESERVE AUCTION PROPERTY- Property sold “AS-IS” without contingencies, repairs, warranties, guarantees or representation as to listing accuracy, property information, photo or other depiction included or described herein. Inspect before bidding.

7. 2026-04-21
   price $286,900 529-char remark

   Show marketing remark (529 chars)

   This lovely home may be exactly what you have been searching for! 4 bedrooms, 3.5 bathroom upscale multilevel living with spacious back deck. Plenty of space and alarge kitchen, near shopping, restaurants and more. Repairs needed. Visit it today to see the possibilities! RESERVE AUCTION PROPERTY- Property sold “AS-IS” without contingencies, repairs, warranties, guarantees or representation as to listing accuracy, property information, photo or other depiction included or described herein. Inspect before bidding.

8. 2026-03-30
   listed $304,300 Active 549-char remark

   Show marketing remark (529 chars)

   This lovely home may be exactly what you have been searching for! 4 bedrooms, 3.5 bathroom upscale multilevel living with spacious back deck. Plenty of space and alarge kitchen, near shopping, restaurants and more. Repairs needed. Visit it today to see the possibilities! RESERVE AUCTION PROPERTY- Property sold “AS-IS” without contingencies, repairs, warranties, guarantees or representation as to listing accuracy, property information, photo or other depiction included or described herein. Inspect before bidding.

9. 2026-03-30
   listed $304,300 Active 529-char remark

   Show marketing remark (529 chars)

   This lovely home may be exactly what you have been searching for! 4 bedrooms, 3.5 bathroom upscale multilevel living with spacious back deck. Plenty of space and alarge kitchen, near shopping, restaurants and more. Repairs needed. Visit it today to see the possibilities! RESERVE AUCTION PROPERTY- Property sold “AS-IS” without contingencies, repairs, warranties, guarantees or representation as to listing accuracy, property information, photo or other depiction included or described herein. Inspect before bidding.

10. 2025-09-21
    historical
11. 2025-09-21
    historical
12. 2025-08-07
    price $308,500
13. 2025-08-07
    price $308,500
14. 2025-07-21
    price $313,500
15. 2025-07-21
    price $313,500
16. 2025-06-30
    price $318,500
17. 2025-06-30
    price $318,500
18. 2025-06-11
    price $329,400
19. 2025-06-11
    price $329,400
20. 2025-05-21
    price $343,900
21. 2025-05-20
    price $343,900
22. 2025-05-02
    price $362,000
23. 2025-05-01
    price $362,000
24. 2025-04-11
    listed $383,800 Active
25. 2025-04-11
    listed $383,800 Active
26. 2020-08-03
    soldstatus $228,150
27. 2006-12-31
    historical
28. 2006-01-12
    listed $294,900
29. 2006-01-01
    historical
30. 2005-05-11
    listed $298,500

ⓘ 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: $7,626 · $635/mo
• Projected year-2 tax: $7,626 · $635/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥96°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: $36,168
• − Mortgage interest: −$15,589
• − Property taxes: −$7,626
• − Insurance: −$1,392
• − Repairs & maintenance: −$2,893
• − Management: −$2,893
• − HOA: −$1,740
• − Depreciation: −$8,096
• Taxable loss: −$4,062
• Est. tax savings @ 24.0%: +$975
• After-tax cash flow: $1,277/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: Howell Public Schools
• NCES district ID: 2618720
• Math proficiency: 41% ▼ -6.00%
• Reading proficiency: 52% ▼ -4.00%
• Median HH income: $66,453
• Composite: 41.42/100
• National rank: #3473
• State rank: #116 of 540 in MI

Livability — Howell

• Score: 78/100
• State rank: #107
• US rank: #2598

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Livingston County · 121,626 people
• City population: 48,014
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 48,014
• Household income: $94,577
• Rent vs Own: 22.0% rent · 78.0% own
• Severe rent burden: 644.0

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 (92%)
• Race & ethnicity: White 92% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Romanian 12% Italian 5% Lithuanian 4%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Arabic 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: ▼ -326.17%
• Current HPI: 180.5058
• 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

-6.8% since first listed

27 events — show timeline

• 2026-05-08 Price Changed $278,300 MiRealSource-MiMLS
• 2026-05-08 Price Changed $278,300 REALCOMP
• 2026-04-22 Price Changed $286,900 MiRealSource-MiMLS
• 2026-04-21 Price Changed $286,900 REALCOMP
• 2026-03-30 Listed $304,300 REALCOMP
• 2026-03-30 Listed $304,300 MiRealSource-MiMLS
• 2025-09-21 Listing Removed — MiRealSource-MiMLS
• 2025-09-21 Listing Removed — REALCOMP
• 2025-08-07 Price Changed $308,500 MiRealSource-MiMLS
• 2025-08-07 Price Changed $308,500 REALCOMP
• 2025-07-21 Price Changed $313,500 MiRealSource-MiMLS
• 2025-07-21 Price Changed $313,500 REALCOMP
• 2025-06-30 Price Changed $318,500 MiRealSource-MiMLS
• 2025-06-30 Price Changed $318,500 REALCOMP
• 2025-06-11 Price Changed $329,400 MiRealSource-MiMLS
• 2025-06-11 Price Changed $329,400 REALCOMP
• 2025-05-21 Price Changed $343,900 MiRealSource-MiMLS
• 2025-05-20 Price Changed $343,900 REALCOMP
• 2025-05-02 Price Changed $362,000 MiRealSource-MiMLS
• 2025-05-01 Price Changed $362,000 REALCOMP
• 2025-04-11 Listed $383,800 MiRealSource-MiMLS
• 2025-04-11 Listed $383,800 REALCOMP
• 2020-08-03 Sold (Public Records) $228,150 Public Records
• 2006-12-31 Listing Removed — REALCOMP
• 2006-01-12 Listed $294,900 REALCOMP
• 2006-01-01 Listing Removed — REALCOMP
• 2005-05-11 Listed $298,500 REALCOMP

Property tax history

+10.2%/yr

Latest (2025): $7,626 · +13.0% YoY. Source: county tax records.