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

$74,900

2 bd · 1.0 ba · 1,325 sqft · Condo · 24 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. With so many improvements already completed, including the stunning 2025 bathroom renovation, updated kitchen, refreshed interior, and Florida room enhancements, this home offers comfort, convenience, and exceptional potential for its next owner. Why take on the hassle of renovations when you can move right in and start enjoying your new lifestyle? Schedule your private showing today and see everything this lovely condo has to offer! This section of the Co-op has a carport no moving your car around after a snow fall. 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. Application fee is $75 for first occupant and $45 for each additional occupant. Buyer is required to pay a $525 closing fee to co-op and $300 to the co-op reserve fund escrow.

Key facts

• Laminate flooring
• Club house pool
• Sunroom

Tags

• UPDATED KITCHEN
• UPDATED BATHROOM
• LAMINATE FLOORING
• SUNROOM
• FINISHED BASEMENT
• CLUB HOUSE POOL

🏢 Co-op / cooperative unit. The $74,900 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 $75k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $433 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $74k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.2% 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: 484 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 34d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% 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 $518 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 $21k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 27y 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.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.

Recommended offer $73,776 (1.5% below list)

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 2.49% ✓
• Cap rate: 13.23%
• Cash-on-cash: 24.78%
• DSCR: 2.10
• GRM: 3.3

CMA / ARV

• ARV (median comp): $172,157
• List price: $74,900
• Delta: -56.49%
• 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%)	3mo	$95,000	$72	81
61154 Greenwood Dr	0.14mi	2/2.0	1,141 (-14%)	2mo	$150,000	$131	65
61101 Greenwood Dr	0.13mi	2/2.0	1,141 (-14%)	2mo	$165,000	$145	65
61051 Greenwood Dr	0.14mi	2/2.0	1,085 (-18%)	2mo	$163,000	$150	63
61165 Greenwood Dr	0.23mi	2/2.0	1,141 (-14%)	0mo	$205,000	$180	62
25325 Potomac Dr #3	0.29mi	2/2.0	1,500 (+13%)	0mo	$69,000	$46	60
25106 Franklin Ter #6	0.40mi	1/1.5 (-1)	1,440 (+9%)	1mo	$68,000	$47	59
25322 Franklin Ter #7	0.27mi	2/2.0	1,560 (+18%)	2mo	$82,500	$53	57
25126 Jefferson Ct #1	0.34mi	2/2.0	1,600 (+21%)	2mo	$167,000	$104	54
61745 VALLEY FORGE Dr #1	0.42mi	2/2.0	1,650 (+24%)	2mo	$187,000	$113	50
860 Knollwood Cir	0.56mi	2/2.5	1,186 (-10%)	1mo	$310,000	$261	49
412 Dorothy St	1.40mi	2/1.5	1,003 (-24%)	0mo	$237,500	$237	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: 18.5%
• Equity multiple: 1.75×
• Total profit: $15,794
• Equity at exit: $11,168

10-year hold

• IRR: 27.1%
• Equity multiple: 3.42×
• Total profit: $50,692
• Equity at exit: $6,476

Cash invested: $20,972 (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: 484
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,868 high
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,124/yr
• Insurance: −$31
• HOA: −$525
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $433

Break-even live

Break-even rent $1,320

Max offer price $74,900

Occupancy floor 72%

Sensitivity live

Price	-10% $485	-5% $459	+0% $433	+5% $407	+10% $381
Rent	-10% $285	-5% $359	+0% $433	+5% $507	+10% $581
Rate	-1.0pp $471	-0.5pp $452	base $433	+0.5pp $414	+1.0pp $394

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: $18,725
• Closing costs: $2,247
• 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	157d	1	0.68mi
425 Donovan St South Lyon, MI	3.0	1.0	1079	$1,675	$1.55	33d	1	0.78mi
275 Woodland Dr South Lyon, MI	3.0	2.0	1400	$2,250	$1.61	91d	1	0.96mi
113 W Liberty St Unit 1 South Lyon, MI	3.0	1.0	1050	$1,600	$1.52	129d	1	1.07mi
200 Brookwood Dr South Lyon, MI	1.0–2.0	1.0–2.0	921	$1,671	$1.81	3d	5	1.19mi
249 Brookwood Dr #2 South Lyon, MI	2.0	1.0	1079	$1,475	$1.37	184d	1	1.32mi
491 Ada St South Lyon, MI	3.0	1.0	1000	$2,000	$2.00	10d	1	1.41mi

Property features AI

Finance

• HOA & community: Monthly association fee includes gas, lawn maintenance, snow removal, trash removal, water and sewer, and exterior maintenanceCats and dogs allowed; breed restrictions apply

Exterior

• Parking: Carport
• Utilities: Natural gasBaseboard heatingPrivate wellSeptic
• Home design: CondominiumOne story
• Construction: Built in 1972Brick and wood exteriorBasement foundation
• Exterior features: Porch

Interior

• Kitchen: Dishwasher, range/oven, refrigerator
• Bedrooms: 2 bedrooms on the entry level
• Flooring: Laminate and ceramic flooring
• Bathrooms: 1 full bathroom
• Interior features: Cable and internet availableFinished basement
• Laundry & utility: Washer and dryer

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. 2026-11-08
   days on market $74,900 Active 24 DOM
2. 2026-11-07
   days on market $74,900 Active 23 DOM
3. 2026-11-06
   days on market $74,900 Active 22 DOM
4. 2026-11-05
   days on market $74,900 Active 21 DOM
5. 2026-11-04
   days on market $74,900 Active 20 DOM
6. 2026-11-02
   days on market $74,900 Active 18 DOM
7. 2026-11-01
   days on market $74,900 Active 17 DOM
8. 2026-10-31
   days on market $74,900 Active 16 DOM
9. 2026-10-30
   days on market $74,900 Active 15 DOM
10. 2026-10-29
    days on market $74,900 Active 14 DOM
11. 2026-10-28
    days on market $74,900 Active 13 DOM
12. 2026-10-27
    days on marketlisting id $74,900 Active 12 DOM
13. 2026-10-26
    days on market $74,900 Active 11 DOM
14. 2026-10-26
    days on market $74,900 Active 10 DOM
15. 2026-10-24
    days on market $74,900 Active 9 DOM
16. 2026-10-23
    days on market $74,900 Active 8 DOM
17. 2026-10-22
    days on market $74,900 Active 7 DOM
18. 2026-10-21
    days on market $74,900 Active 6 DOM
19. 2026-10-20
    days on market $74,900 Active 5 DOM
20. 2026-10-19
    days on market $74,900 Active 4 DOM
21. 2026-10-18
    days on market $74,900 Active 3 DOM
22. 2026-10-17
    days on market $74,900 Active 2 DOM
23. 2026-10-15
    pricedays on marketlisting id $74,900 Active 1 DOM

    Show marketing remark (1297 chars)

    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. With so many improvements already completed, including the stunning 2025 bathroom renovation, updated kitchen, refreshed interior, and Florida room enhancements, this home offers comfort, convenience, and exceptional potential for its next owner. Why take on the hassle of renovations when you can move right in and start enjoying your new lifestyle? Schedule your private showing today and see everything this lovely condo has to offer! This section of the Co-op has a carport no moving your car around after a snow fall. 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. Application fee is $75 for first occupant and $45 for each additional occupant. Buyer is required to pay a $525 closing fee to co-op and $300 to the co-op reserve fund escrow.

24. 2026-10-13
    days on market $79,900 Active 173 DOM
25. 2026-10-12
    days on market $79,900 Active 172 DOM
26. 2026-10-11
    days on market $79,900 Active 171 DOM
27. 2026-10-10
    days on market $79,900 Active 170 DOM
28. 2026-10-09
    days on market $79,900 Active 169 DOM
29. 2026-10-08
    days on market $79,900 Active 168 DOM
30. 2026-10-07
    days on market $79,900 Active 167 DOM
31. 2026-10-06
    days on market $79,900 Active 166 DOM
32. 2026-10-05
    days on market $79,900 Active 165 DOM
33. 2026-10-04
    days on market $79,900 Active 164 DOM
34. 2026-10-03
    days on market $79,900 Active 163 DOM
35. 2026-10-02
    days on market $79,900 Active 162 DOM
36. 2026-10-01
    days on market $79,900 Active 161 DOM
37. 2026-09-30
    days on market $79,900 Active 160 DOM
38. 2026-09-29
    days on market $79,900 Active 159 DOM
39. 2026-09-28
    days on market $79,900 Active 158 DOM
40. 2026-09-27
    days on market $79,900 Active 157 DOM
41. 2026-09-25
    days on market $79,900 Active 155 DOM
42. 2026-09-24
    days on market $79,900 Active 154 DOM
43. 2026-09-23
    days on market $79,900 Active 153 DOM
44. 2026-09-22
    days on market $79,900 Active 152 DOM
45. 2026-09-21
    days on market $79,900 Active 151 DOM
46. 2026-09-20
    days on market $79,900 Active 150 DOM
47. 2026-09-19
    days on market $79,900 Active 149 DOM
48. 2026-09-18
    days on market $79,900 Active 148 DOM
49. 2026-09-17
    days on market $79,900 Active 147 DOM
50. 2026-09-16
    days on market $79,900 Active 146 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: $22,415
• − Mortgage interest: −$4,196
• − Property taxes: −$1,124
• − Insurance: −$374
• − Repairs & maintenance: −$1,793
• − Management: −$1,793
• − HOA: −$6,300
• − Depreciation: −$2,179
• Taxable income: $4,656
• Est. tax owed @ 24.0%: −$1,117
• After-tax cash flow: $4,079/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%
• 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

• HOA & community: Monthly association fee includes gas, lawn maintenance, snow removal, trash removal, water and sewer, and exterior maintenanceCats and dogs allowed; breed restrictions apply

Exterior

• Parking: Carport
• Utilities: Natural gasBaseboard heatingPrivate wellSeptic
• Home design: CondominiumOne story
• Construction: Built in 1972Brick and wood exteriorBasement foundation
• Exterior features: Porch

Interior

• Kitchen: Dishwasher, range/oven, refrigerator
• Bedrooms: 2 bedrooms on the entry level
• Flooring: Laminate and ceramic flooring
• Bathrooms: 1 full bathroom
• Interior features: Cable and internet availableFinished basement
• Laundry & utility: Washer and dryer

Price history

+29.1% since first listed

34 events — show timeline

• 2026-10-15 Listed $74,900 REALCOMP
• 2026-10-15 Listed $74,900 MiRealSource-MiMLS
• 2026-10-13 Listing Removed — MiRealSource-MiMLS
• 2026-08-28 Price Changed $79,900 MiRealSource-MiMLS
• 2026-08-27 Price Changed $79,900 REALCOMP
• 2026-07-22 Listing Removed — REALCOMP
• 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 — MiRealSource-MiMLS
• 2011-06-20 Listing Removed — REALCOMP
• 2011-04-13 Listed $33,900 MiRealSource-MiMLS
• 2011-04-13 Listed $33,900 REALCOMP
• 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