61035 Eleven Mile Rd #4 · South Lyon, MI 48178

$79,900

2 bd · 1.0 ba · 1,325 sqft · Condo · 153 Days on market

Built 1972 Average condition $525/mo HOA

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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 +5.3/10.0
• Livability +4.2/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Colonial Acres 55 and over senior co-op community. This 2-bedroom ranch/ townhome is exactly what you have been looking forward to. Carefree living Updated Kitchen and Bathroom. Laminate flooring throughout. Sunroom and finished basement, TV room, crafty and wood working if that your hobby. Club house pool senior activities. + Close to the S. Lyon Senior Center. This section of the Co-op has a carport for shareholders. HOA dues include snow removal Lawn maintenance, gas and water. the property is located at 11 Mile and Pontiac Trail. Senior bus transportation available for a Small Fee. Dogs and cats welcome call clubhouse for pet breeds.

Key facts

• $525 HOA
• Built 1972
• Listed 153 days

🏢 Co-op / cooperative unit. The $79,900 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $80k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $390 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.2% vs local median 3.9% in South Lyon — 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 83/100 on livability (#46 in MI, #953 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities C-, commute F.
• 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: 366 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).
• This rent is only 17% 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 $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Oakland County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 153 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 27y ago; this cycle's ask has dropped $9k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.

Recommended offer $70,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 153 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Schools are B-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?
8. 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.
9. 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.
10. 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: 2.32% ✓
• Cap rate: 12.15%
• Cash-on-cash: 20.93%
• DSCR: 1.93
• GRM: 3.6

CMA / ARV

• ARV (median comp): $181,350
• List price: $79,900
• Delta: -55.94%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
25323 Franklin Ter	0.27mi	2/1.5	1,312 (-1%)	1mo	$95,000	$72	83
61101 Greenwood Dr	0.13mi	2/2.0	1,141 (-14%)	0mo	$165,000	$145	66
61031 Greenwood Dr	0.13mi	2/2.0	1,139 (-14%)	2mo	$178,000	$156	64
61031 Greenwood Dr	0.13mi	2/2.0	1,139 (-14%)	2mo	$178,000	$156	64
61051 Greenwood Dr	0.14mi	2/2.0	1,085 (-18%)	1mo	$163,000	$150	64
61171 Greenwood Dr	0.14mi	2/2.0	1,085 (-18%)	2mo	$150,000	$138	63
25322 Franklin Ter #7	0.27mi	2/2.0	1,560 (+18%)	0mo	$82,500	$53	58
766 Challenging Trl	0.52mi	2/2.5	1,422 (+7%)	2mo	$275,000	$193	56
25126 Jefferson Ct #1	0.34mi	2/2.0	1,600 (+21%)	0mo	$167,000	$104	55
61745 VALLEY FORGE Dr #1	0.42mi	2/2.0	1,650 (+24%)	0mo	$187,000	$113	51
761 Knollwood Cir	0.51mi	2/2.5	1,186 (-10%)	2mo	$320,000	$270	51
330 Whipple St	0.91mi	3/1.0 (+1)	1,059 (-20%)	2mo	$315,000	$297	34

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: 13.7%
• Equity multiple: 1.55×
• Total profit: $12,261
• Equity at exit: $11,913

10-year hold

• IRR: 22.7%
• Equity multiple: 2.97×
• Total profit: $44,110
• Equity at exit: $6,908

Cash invested: $22,372 (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 →

Active competition Active MLS

• For sale now: 0 active · 5 under contract

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 48178

• Active inventory: 366
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,858 high
• Mortgage (P&I): −$419
• Tax est. 1.5%: −$100 /mo · $1,198/yr
• Insurance: −$33
• HOA: −$525
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $390

Break-even live

Break-even rent $1,364

Max offer price $79,900

Occupancy floor 74%

Sensitivity live

Price	-10% $446	-5% $418	+0% $390	+5% $363	+10% $335
Rent	-10% $244	-5% $317	+0% $390	+5% $464	+10% $537
Rate	-1.0pp $431	-0.5pp $411	base $390	+0.5pp $370	+1.0pp $349

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: $19,975
• Closing costs: $2,397
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
663 Jamie Vis South Lyon, MI	3.0	2.5	1560	$2,749	$1.76	0d	1	0.29mi
549 Lakewood Dr South Lyon, MI	1.0–2.0	1.0	850	$1,559	$1.83	0d	1	0.55mi
671 E Crest Ln South Lyon, MI	3.0	1.5	1589	$2,250	$1.42	112d	1	0.68mi
425 Donovan St South Lyon, MI	3.0	1.0	1079	$1,675	$1.55	10d	1	0.78mi
275 Woodland Dr South Lyon, MI	3.0	2.0	1400	$2,250	$1.61	46d	1	0.96mi
113 W Liberty St Unit 1 South Lyon, MI	3.0	1.0	1050	$1,600	$1.52	84d	1	1.07mi
200 Brookwood Dr South Lyon, MI	1.0–2.0	1.0–2.0	934	$1,709	$1.83	4d	6	1.19mi
825 W Lake St South Lyon, MI	2.0	1.0	799	$1,656	$2.07	0d	7	1.23mi
249 Brookwood Dr #2 South Lyon, MI	2.0	1.0	1079	$1,475	$1.37	139d	1	1.32mi

Property features AI

Finance

• Other: Pets allowed with possible breed restrictions; contact required for details
• HOA & community: Homeowners association with monthly fee of $525HOA covers gas, structure and grounds maintenance, pest control, snow removal, trash, and water

Exterior

• Parking: Parking lotNo garageCarportShared driveway
• Utilities: Private well waterSeptic tankCable availableUnderground utilities
• Home design: CondominiumResidential propertyOne levelGround-level entry with stepsBrick and wood siding exterior
• Construction: Brick and wood siding construction
• Exterior features: Covered porch/patio

Interior

• Kitchen: DishwasherFree-standing electric rangeFree-standing refrigeratorRange hood
• Bedrooms: Total rooms: 5
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heatingNatural gas heatingNo central cooling
• Interior features: Finished basementRange hood
• Laundry & utility: WasherDryer

HOA detail $525/mo · $6,300/yr condo

• Likely covers: watergassnow removalpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-09-23
   days on market $79,900 Active 153 DOM
2. 2026-09-22
   days on market $79,900 Active 152 DOM
3. 2026-09-21
   days on market $79,900 Active 151 DOM
4. 2026-09-20
   days on market $79,900 Active 150 DOM
5. 2026-09-19
   days on market $79,900 Active 149 DOM
6. 2026-09-18
   days on market $79,900 Active 148 DOM
7. 2026-09-17
   days on market $79,900 Active 147 DOM
8. 2026-09-16
   days on market $79,900 Active 146 DOM
9. 2026-09-15
   days on market $79,900 Active 145 DOM
10. 2026-09-14
    days on market $79,900 Active 144 DOM
11. 2026-09-13
    days on market $79,900 Active 143 DOM
12. 2026-09-12
    days on market $79,900 Active 142 DOM
13. 2026-09-11
    days on market $79,900 Active 141 DOM
14. 2026-09-05
    days on market $79,900 Active 135 DOM
15. 2026-09-04
    days on market $79,900 Active 134 DOM
16. 2026-09-03
    days on market $79,900 Active 133 DOM
17. 2026-08-31
    days on market $79,900 Active 130 DOM
18. 2026-08-30
    days on market $79,900 Active 129 DOM
19. 2026-08-29
    days on market $79,900 Active 128 DOM
20. 2026-08-28
    pricedays on market $79,900 Active 127 DOM
21. 2026-08-27
    days on market $84,900 Active 126 DOM
22. 2026-08-26
    days on market $84,900 Active 125 DOM
23. 2026-08-25
    days on market $84,900 Active 124 DOM
24. 2026-08-24
    days on market $84,900 Active 123 DOM
25. 2026-08-23
    days on market $84,900 Active 122 DOM
26. 2026-08-22
    days on market $84,900 Active 121 DOM
27. 2026-08-21
    days on market $84,900 Active 120 DOM
28. 2026-08-20
    days on market $84,900 Active 119 DOM
29. 2026-08-19
    days on market $84,900 Active 118 DOM
30. 2026-08-18
    days on market $84,900 Active 117 DOM
31. 2026-08-17
    remarks 699-char remark
32. 2026-08-17
    days on market $84,900 Active 116 DOM
33. 2026-08-16
    days on market $84,900 Active 115 DOM
34. 2026-08-15
    days on market $84,900 Active 114 DOM
35. 2026-08-14
    days on market $84,900 Active 113 DOM
36. 2026-08-13
    days on market $84,900 Active 112 DOM
37. 2026-08-12
    days on market $84,900 Active 111 DOM
38. 2026-08-11
    days on market $84,900 Active 110 DOM
39. 2026-08-10
    days on market $84,900 Active 109 DOM
40. 2026-08-09
    days on market $84,900 Active 108 DOM
41. 2026-08-08
    days on market $84,900 Active 107 DOM
42. 2026-08-06
    days on market $84,900 Active 105 DOM
43. 2026-08-05
    days on market $84,900 Active 104 DOM
44. 2026-08-04
    status $84,900 Active 103 DOM
45. 2026-07-23
    listing id $84,900 Pending 103 DOM
46. 2026-07-22
    status $84,900 Pending 103 DOM
47. 2026-07-22
    days on market $84,900 Active 103 DOM
48. 2026-07-21
    days on market $84,900 Active 102 DOM
49. 2026-07-20
    days on market $84,900 Active 101 DOM
50. 2026-07-18
    days on market $84,900 Active 99 DOM

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 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: $22,291
• − Mortgage interest: −$4,476
• − Property taxes: −$1,198
• − Insurance: −$400
• − Repairs & maintenance: −$1,783
• − Management: −$1,783
• − HOA: −$6,300
• − Depreciation: −$2,324
• Taxable income: $4,026
• Est. tax owed @ 24.0%: −$966
• After-tax cash flow: $3,717/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.

Condition & rehab AI · 12 photos

Average 55/100 Cosmetic rehab Est. rehab $6,625–$19,875 screening

This 2-bedroom ranch/townhome in a senior co-op community offers a good starting point with average condition and potential for cosmetic updates to boost its resale and rental value.

Repairs flagged

• Minor ceiling fans — need cleaning
• Minor lighting — basic fixtures

Value-add opportunities

• Both painting and updating lighting fixtures — enhances curb appeal and interior aesthetics ↑
• Both ceiling fans — improves comfort and energy efficiency ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 53/100

Zoned Schools

Elementary Frank E Bartlett School F MI #484/1,397 Nat'l #16,061/41,679 High South Lyon High School B- MI #66/713 Nat'l #3,404/17,239

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

A Composite livability gradescore 83/100

Livability — South Lyon

• Score: 83/100
• State rank: #46
• US rank: #953

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Lyon, MI
• County: Oakland County · 1,335,747 people
• City population: 37,789
• 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: 8% of renters

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Population outlook (Oakland County) Hauer SSP2

• Today (2025): 1,335,747 people
• By 2030: 1,375,100 · +2.9%
• By 2040: 1,435,385 · +7.5%
• By 2050: 1,469,250 · +10.0%
• By 2075: 1,531,946 · +14.7%
• By 2100: 1,450,485 · +8.6%

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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%

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Political lean MEDSL · Oakland

• 2024 margin: D (+10.6) · D 54.4% · R 43.8% · Other 1.9%
• 2008→2024 swing: -3.9pp toward R · 2008: 14.5pp · 2024: 10.6pp
• All cycles: 2024: D+10.6 2020: D+14.1 2016: D+8.1 2012: D+8.1 2008: D+14.5

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

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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

Property features AI

Finance

• Other: Pets allowed with possible breed restrictions; contact required for details
• HOA & community: Homeowners association with monthly fee of $525HOA covers gas, structure and grounds maintenance, pest control, snow removal, trash, and water

Exterior

• Parking: Parking lotNo garageCarportShared driveway
• Utilities: Private well waterSeptic tankCable availableUnderground utilities
• Home design: CondominiumResidential propertyOne levelGround-level entry with stepsBrick and wood siding exterior
• Construction: Brick and wood siding construction
• Exterior features: Covered porch/patio

Interior

• Kitchen: DishwasherFree-standing electric rangeFree-standing refrigeratorRange hood
• Bedrooms: Total rooms: 5
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heatingNatural gas heatingNo central cooling
• Interior features: Finished basementRange hood
• Laundry & utility: WasherDryer

Price history

+46.4% since first listed

28 events — show timeline

• 2026-05-30 Price Changed $84,900 MiRealSource-MiMLS
• 2026-05-29 Price Changed $84,900 REALCOMP
• 2026-04-10 Listed $89,000 REALCOMP
• 2026-04-10 Listed $89,000 MiRealSource-MiMLS
• 2020-09-29 Pending — REALCOMP
• 2020-09-29 Sold (MLS) $70,000 Greater Lansing AoR
• 2020-09-29 Sold (MLS) $70,000 REALCOMP
• 2020-09-02 Contingent — MiRealSource-MiMLS
• 2020-09-02 Contingent — REALCOMP
• 2020-08-19 Listed $70,000 MiRealSource-MiMLS
• 2020-08-19 Listed $70,000 Greater Lansing AoR
• 2020-08-19 Listed $70,000 REALCOMP
• 2011-06-20 Listing Removed — REALCOMP
• 2011-06-20 Listing Removed — MiRealSource-MiMLS
• 2011-04-13 Listed $33,900 REALCOMP
• 2011-04-13 Listed $33,900 MiRealSource-MiMLS
• 2007-05-30 Sold (MLS) $28,400 REALCOMP
• 2006-09-05 Listed $34,900 REALCOMP
• 2005-09-20 Listing Removed — REALCOMP
• 2005-06-29 Listed $53,900 REALCOMP
• 2005-06-09 Listing Removed — REALCOMP
• 2005-02-24 Listed $53,900 REALCOMP
• 2000-08-04 Sold (MLS) $55,000 REALCOMP
• 2000-05-22 Listed $60,000 REALCOMP
• 2000-03-01 Listing Removed — REALCOMP
• 1999-12-31 Listing Removed — REALCOMP
• 1999-11-15 Listed $57,000 REALCOMP
• 1999-04-29 Listed $58,000 REALCOMP