13713 Stone Falcon North Dr

Utica, MI 48315

$639,490D

4 bd · 2.5 ba · 3,172 sqft · Built 2026 · SingleFamily · Active · 85 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,950/mo
• Mortgage (P&I): −$3,354
• Tax + insurance: −$1,066
• HOA: −$103
• Vac / Maint / Mgmt: −$1,040
• Net cashflow: $-612/mo
• Annual: $-7,342/yr
• Cap rate: 5.14%
• Cash-on-cash: -4.10%
• DSCR: 0.82
• 1% rule: 0.77%
• Cash to close: $179,057

Investor read

• This is a 4-bed/2.5-bath single-family listed at $639k.
• At list price, monthly cash flow is $-612 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $551k (13.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $495k (22.6% below list).
• It's been on market 85 days — a 6% lower offer ($601k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $495k (22.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $19k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#106 in MI, #2,586 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D+, health & safety D+, employment D.
• Utica Community Schools (suburban): math 38% / reading 53% proficiency, ranked #126 of 540 in MI (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Richard J Duncan Elementary (math 49% / reading 67%, grade C+, #229 of 1,397 statewide, top 17%, 701 students, 29% FRL); Eisenhower High School (math 44% / reading 66%, grade C, #107 of 713 statewide, top 15%, 1,835 students, 21% FRL) — zoned schools at 25% FRL track the district average.
• Market conditions: 233 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,321 units permitted in Macomb County in 2024 (86 in 5+ unit buildings).
• Macomb County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 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.
• Cap rate 5.1% vs local median 3.4% in Utica — 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 85 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.