364 Tourangeau Dr · Rochester Hills, MI 48307

$29,900

2 bd · 2.0 ba · 1,200 sqft · SingleFamily · 115 Days on market

Built 2000 400 sqft lot $25/sqft · 89% below area

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• Schools +5.9/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.9/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Rochester Schools!!! 2Bedroom 2bath Modular Move in Ready! Amazing! Community! This Clean neat Modular has been freshly painted! Open floor plan with Huge eat in kitchen open to family room.

Key facts

• Open floor plan
• Modular
• Move in ready

Tags

• MODULAR
• MOVE IN READY
• HUGE EAT IN KITCHEN
• OPEN FLOOR PLAN

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $30k).
• Recommended offer: $27k (9.0% below list) — sets the bar for market timing.
• Cap rate 56.8% vs local median 3.2% in Rochester Hills — 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 77/100 on livability (#127 in MI, #3,163 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Rochester Community School District (suburban): math 60% / reading 69% proficiency, ranked #21 of 540 in MI (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+1.8%/yr); 208 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $897 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 + 1.8% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($27k) 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.

Recommended offer $27,209 (9.0% below list)

Questions for the listing agent

1. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
5. 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?
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 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: 6.20% ✓
• Cap rate: 56.79%
• Cash-on-cash: 180.36%
• DSCR: 9.02
• GRM: 1.3

CMA / ARV

• ARV (median comp): $276,755
• List price: $29,900
• Delta: -89.20%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
840 John R Rd	0.49mi	2/1.0	1,183 (-1%)	13mo	$250,000	$211	60

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 · 1.78% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 9.73×
• Total profit: $73,075
• Equity at exit: $4,458

10-year hold

• IRR: —
• Equity multiple: 19.86×
• Total profit: $157,936
• Equity at exit: $2,585

Cash invested: $8,372 (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 →

ZIP-level market 48307

• Rents YoY: 1.8%
• Active inventory: 208
• Price-to-rent: 1.3×

Monthly cashflow live

• Estimated rent: $1,854 high
• Mortgage (P&I): −$157
• Tax est. 1.5%: −$37 /mo · $448/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $1,258

Break-even live

Break-even rent $262

Max offer price $29,900

Occupancy floor 27%

Sensitivity live

Price	-10% $1,279	-5% $1,269	+0% $1,258	+5% $1,248	+10% $1,238
Rent	-10% $1,112	-5% $1,185	+0% $1,258	+5% $1,332	+10% $1,405
Rate	-1.0pp $1,273	-0.5pp $1,266	base $1,258	+0.5pp $1,251	+1.0pp $1,243

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1515 Goldrush Rochester Hills, MI	1.0–3.0	1.0–2.5	1573	$2,125	$1.35	0d	6	0.21mi
1880 E Avon Rd Rochester Hills, MI	2.0	2.0	1294	$4,470	$3.45	0d	1	0.47mi
1090 Academy Dr Rochester Hills, MI	2.0–3.0	2.0	1565	$2,185	$1.40	0d	1	0.64mi
1908 Flagstone Cir Rochester, MI	2.0	2.0	1338	$1,750	$1.31	5d	1	0.99mi
430 Baldwin Ave #75 Rochester, MI	2.0	1.0	997	$1,450	$1.45	44d	1	1.16mi
440 Baldwin Ave Rochester, MI	2.0	1.0	1050	$1,350	$1.29	44d	1	1.16mi
701 Green Cir Rochester, MI	1.0–3.0	1.0–2.5	1133	$2,011	$1.77	0d	46	1.22mi
480 Baldwin Ave #20 Rochester, MI	2.0	1.0	839	$1,400	$1.67	44d	1	1.23mi

Listing history 16 events

1. 2026-06-18
   days on market $29,900 Active 115 DOM
2. 2026-06-17
   days on market $29,900 Active 114 DOM
3. 2026-06-16
   days on market $29,900 Active 113 DOM
4. 2026-06-15
   days on market $29,900 Active 112 DOM
5. 2026-06-13
   days on market $29,900 Active 110 DOM
6. 2026-06-13
   days on market $29,900 Active 109 DOM
7. 2026-06-09
   days on market $29,900 Active 106 DOM
8. 2026-06-08
   days on market $29,900 Active 105 DOM
9. 2026-06-07
   days on market $29,900 Active 104 DOM
10. 2026-06-04
    days on market $29,900 Active 101 DOM
11. 2026-06-03
    days on market $29,900 Active 100 DOM
12. 2026-06-02
    days on market $29,900 Active 99 DOM
13. 2026-06-01
    days on market $29,900 Active 98 DOM
14. 2026-05-31
    days on market $29,900 Active 97 DOM
15. 2026-02-18
    listed $29,900 Active 191-char remark

    Show marketing remark (190 chars)

    Rochester Schools!!! 2Bedroom 2bath Modular Move in Ready! Amazing! Community! This Clean neat Modular has been freshly painted! Open floor plan with Huge eat in kitchen open to family room.

16. 2026-02-18
    listed $29,900 Active 190-char remark

    Show marketing remark (190 chars)

    Rochester Schools!!! 2Bedroom 2bath Modular Move in Ready! Amazing! Community! This Clean neat Modular has been freshly painted! Open floor plan with Huge eat in kitchen open to family room.

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,252
• − Mortgage interest: −$1,675
• − Property taxes: −$448
• − Insurance: −$150
• − Repairs & maintenance: −$1,780
• − Management: −$1,780
• − Depreciation: −$870
• Taxable income: $15,549
• Est. tax owed @ 24.0%: −$3,732
• After-tax cash flow: $11,368/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: Rochester Community School District
• NCES district ID: 2629940
• Math proficiency: 60% ▼ -9.00%
• Reading proficiency: 69% ▼ -4.00%
• Median HH income: $89,242
• Composite: 58.53/100
• National rank: #994
• State rank: #21 of 540 in MI

Livability — Rochester Hills

• Score: 77/100
• State rank: #127
• US rank: #3163

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rochester Hills, MI
• County: Oakland County · 1,009,092 people
• City population: 44,714
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 44,714
• Household income: $106,576
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 926.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Asian 14% Two or more races 6% Black 4% Hispanic / Latino 4%
• Common ancestry: Romanian 9% Lithuanian 3% Slovak 2%
• Foreign-born: 19% · Canada, China, South Korea
• Languages at home: 76% English-only · Other Indo-European 9% Spanish 3% Arabic 2%

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: ▼ -339.13%
• Current HPI: 188.8794
• Rent YoY: ▲ 1.78%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-02-18 Listed $29,900 MiRealSource-MiMLS
• 2026-02-18 Listed $29,900 REALCOMP