628 N Perry St · Pontiac, MI 48342

$59,900

3 bd · 1.0 ba · 1,642 sqft · SingleFamily public records · 34 Days on market

Built 1920 6,534 sqft lot $36/sqft · 59% below area Est $98k · 39% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This colonial home situated just minutes from Downtown is ready for your vision to bring life back into this home. The home offers a galley style kitchen with a laundry area or butlers pantry off the rear, a formal dining room, spacious living room! Two bedrooms and full bathroom on the 2nd floor too!

Key facts

• Formal dining room
• Laundry area
• Butlers pantry

Tags

• GALLEY STYLE KITCHEN
• LAUNDRY AREA
• BUTLERS PANTRY
• FORMAL DINING ROOM
• SPACIOUS LIVING ROOM

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Entry at ground level
• Construction: Aluminum siding; Block foundation
• Exterior features: Paved road access; Lot approximately 0.15 acres (50 x 134.5); Ground-level entry with steps

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $815 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 22.6% vs local median 5.4% in Pontiac — 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 64/100 on livability (#499 in MI) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: health & safety D, schools F, crime F.
• Pontiac City School District (urban): math 8% / reading 17% proficiency, ranked #514 of 540 in MI (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 81% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 90 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $414 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 $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($58k) 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $58,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is F 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?
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: 2.59% ✓
• Cap rate: 22.61%
• Cash-on-cash: 58.29%
• DSCR: 3.59
• GRM: 3.2

CMA / ARV

• ARV (median comp): $98,426
• List price: $59,900
• Delta: -39.14%
• 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
127 Victory Dr	0.35mi	3/2.0	1,610 (-2%)	13mo	$153,000	$95	66
576 Markle Ave	0.60mi	2/1.0 (-1)	1,633 (-0%)	1mo	$155,000	$95	65
50 Lewis St	0.54mi	3/1.0	1,614 (-2%)	10mo	$62,500	$39	64
451 Martin Luther King Jr Blvd N	0.56mi	3/1.5	1,677 (+2%)	10mo	$170,000	$101	60
54 Nelson St	0.36mi	4/1.5 (+1)	1,558 (-5%)	12mo	$149,900	$96	58
207 Victory Dr	0.32mi	3/2.0	1,870 (+14%)	6mo	$195,000	$104	53
197 Gage St	0.31mi	3/1.0	1,865 (+14%)	13mo	$180,000	$97	52
570 E Kennett Rd	0.49mi	3/1.0	1,475 (-10%)	12mo	$143,170	$97	50
890 Spence St	0.46mi	3/1.5	1,822 (+11%)	13mo	$87,000	$48	47
427 Valencia Dr	0.46mi	3/1.5	1,449 (-12%)	16mo	$185,000	$128	44
663 Lenox Ave	0.74mi	3/1.0	1,886 (+15%)	8mo	$182,000	$97	34
613 Markle Ave	0.65mi	4/1.0 (+1)	1,416 (-14%)	13mo	$174,000	$123	31

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: 56.9%
• Equity multiple: 3.52×
• Total profit: $42,200
• Equity at exit: $8,931

10-year hold

• IRR: 61.8%
• Equity multiple: 7.18×
• Total profit: $103,643
• Equity at exit: $5,179

Cash invested: $16,772 (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 48342

• Home prices YoY: -33.8%
• Active inventory: 90
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,550 high
• Mortgage (P&I): −$314
• Tax from tax record: −$71 /mo · $853/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $815

Break-even live

Break-even rent $519

Max offer price $59,900

Occupancy floor 42%

Sensitivity live

Price	-10% $849	-5% $832	+0% $815	+5% $798	+10% $781
Rent	-10% $692	-5% $753	+0% $815	+5% $876	+10% $937
Rate	-1.0pp $845	-0.5pp $830	base $815	+0.5pp $799	+1.0pp $783

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
264 Nelson St Pontiac, MI	3.0	1.0	1478	$1,590	$1.08	44d	1	0.13mi
188 Vernon Dr Pontiac, MI	3.0	1.0	1100	$1,500	$1.36	25d	1	0.27mi
90 Marquette St Pontiac, MI	3.0	1.0	1886	$1,800	$0.95	44d	1	0.29mi
16 Victory Dr Unit 18 Pontiac, MI	2.0	1.0	1118	$1,150	$1.03	44d	1	0.49mi
16 Victory Dr Unit 18 Pontiac, MI	2.0	1.0	1114	$1,150	$1.03	25d	1	0.49mi
49 Oakhill St Pontiac, MI	3.0	1.0	1200	$1,575	$1.31	25d	1	0.54mi
107 N Sanford St Pontiac, MI	4.0	1.5	1467	$1,750	$1.19	44d	1	0.83mi
38 N Shirley St Pontiac, MI	3.0	1.0	1174	$1,425	$1.21	44d	1	0.92mi
128 S Edith St Pontiac, MI	2.0–3.0	2.0	1155	$1,700	$1.47	18d	1	1.34mi

Listing history 13 events

1. 2026-06-15
   statusdays on market $59,900 Pending 34 DOM
2. 2026-06-13
   days on market $59,900 Active 33 DOM

   Show marketing remark (302 chars)

   This colonial home situated just minutes from Downtown is ready for your vision to bring life back into this home. The home offers a galley style kitchen with a laundry area or butlers pantry off the rear, a formal dining room, spacious living room! Two bedrooms and full bathroom on the 2nd floor too!

3. 2026-06-13
   days on market $59,900 Active 32 DOM

   Show marketing remark (302 chars)

   This colonial home situated just minutes from Downtown is ready for your vision to bring life back into this home. The home offers a galley style kitchen with a laundry area or butlers pantry off the rear, a formal dining room, spacious living room! Two bedrooms and full bathroom on the 2nd floor too!

4. 2026-06-09
   days on market $59,900 Active 29 DOM
5. 2026-06-08
   days on market $59,900 Active 28 DOM
6. 2026-06-07
   days on market $59,900 Active 27 DOM
7. 2026-06-04
   days on market $59,900 Active 24 DOM
8. 2026-06-03
   days on market $59,900 Active 23 DOM
9. 2026-06-02
   days on market $59,900 Active 22 DOM
10. 2026-06-01
    days on market $59,900 Active 21 DOM
11. 2026-05-31
    days on market $59,900 Active 20 DOM
12. 2026-05-11
    listed $59,900 Active 303-char remark

    Show marketing remark (302 chars)

    This colonial home situated just minutes from Downtown is ready for your vision to bring life back into this home. The home offers a galley style kitchen with a laundry area or butlers pantry off the rear, a formal dining room, spacious living room! Two bedrooms and full bathroom on the 2nd floor too!

13. 2026-05-11
    listed $59,900 Active 302-char remark

    Show marketing remark (302 chars)

    This colonial home situated just minutes from Downtown is ready for your vision to bring life back into this home. The home offers a galley style kitchen with a laundry area or butlers pantry off the rear, a formal dining room, spacious living room! Two bedrooms and full bathroom on the 2nd floor too!

ⓘ 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: $853 · $71/mo
• Projected year-2 tax: $888 · $74/mo
• Expected delta: +$35/yr (+$3/mo · 4.1%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 15 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: $18,604
• − Mortgage interest: −$3,355
• − Property taxes: −$853
• − Insurance: −$300
• − Repairs & maintenance: −$1,488
• − Management: −$1,488
• − Depreciation: −$1,743
• Taxable income: $9,378
• Est. tax owed @ 24.0%: −$2,251
• After-tax cash flow: $7,525/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: Pontiac City School District
• NCES district ID: 2628740
• Math proficiency: 8% ▼ -5.00%
• Reading proficiency: 17% ▼ -3.00%
• Median HH income: $33,888
• Composite: 10.12/100
• National rank: #9802
• State rank: #514 of 540 in MI

Livability — Pontiac

• Score: 64/100
• State rank: #499
• US rank: #14703

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pontiac, MI
• City population: 44,593
• Population (ZIP): 17,227

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: Black 57% Hispanic / Latino 19% White 13% Two or more races 13% Asian 4%
• Hispanic origin (detail): Mexican 11% Puerto Rican 2%
• Common ancestry: Romanian 1% Lithuanian 1% Italian 1%
• Foreign-born: 10% · Canada, Vietnam
• Languages at home: 79% English-only · Spanish 15% Other Asian/Pacific 4% Other Indo-European 1%

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: ▼ -109.18%
• Current HPI: 214.3258
• Rent YoY: —
• Metro: —
• 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

4 events — show timeline

• 2026-06-14 Pending — REALCOMP
• 2026-06-13 Pending — MiRealSource-MiMLS
• 2026-05-11 Listed $59,900 REALCOMP
• 2026-05-11 Listed $59,900 MiRealSource-MiMLS

Property tax history

+3.7%/yr

Latest (2025): $853 · -6.4% YoY. Source: county tax records.