235 Woodbine Dr · Milford, MI 48380

$80,000

2 bd · 1.0 ba · 833 sqft · SingleFamily public records · 6 Days on market

Built 1933 0.28 ac lot

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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 +4.4/10.0
• Livability +4.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity on a rare triple-lot property located in the desirable Oak Park area! This home sits on 3 total buildable lots, offering endless potential for expansion, new construction, investment, or additional outdoor space. Recent improvements include a newly replaced septic system and septic field, new LVP flooring, and a newer fence enclosing approximately 1/3 acre. Structurally the home appears solid overall but will require roof replacement, as the current roof shows heavy moss growth. Property also needs clean-out and cosmetic updates, making it an excellent opportunity for investors, builders, or handy buyers looking to add value. Listing broker holds contractual equitable interest in the property and may receive consideration from the transaction. Property is being marketed pursuant to a purchase agreement with the seller. Closing will be conducted via contract assignment or double closing, with preference given to assignment. Seller to provide marketable title at closing. Title commitment available. Seller pays ALL: water bills owed, taxes owed, blight tickets or anything else. Buyer to pay closing costs, including transfer taxes, title insurance, closing fees. Sold AS IS - Buyer to verify all information listed

Key facts

• Triple-lot property
• Newer fence
• Buildable lots

Tags

• TRIPLE-LOT PROPERTY
• BUILDABLE LOTS
• NEWLY REPLACED SEPTIC SYSTEM
• NEW LVP FLOORING
• NEWER FENCE
• APPROXIMATELY 1/3 ACRE

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Private well water; Public sewer
• Home design: Single-family residence; One story; Ground-level entry with steps; Aluminum and vinyl siding
• Construction: Asphalt roof; Crawl space foundation
• Exterior features: Porch; Fenced yard; Paved road access

Interior

• Bedrooms: Total of 4 rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Living room fireplace; Lighting
• Laundry & utility: Washer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $611 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Cap rate 15.5% vs local median 2.1% in Milford — 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 87/100 on livability (#17 in MI, #275 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, employment A+; Watch: commute F.
• Huron Valley Schools (suburban): math 42% / reading 56% proficiency, ranked #87 of 540 in MI (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 51 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $553 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 ~4 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.
• Current owner paid $35k; list at $80k implies a 129% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1933 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $80,000

Questions for the listing agent

1. Built in 1933 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 2.00% ✓
• Cap rate: 15.45%
• Cash-on-cash: 32.71%
• DSCR: 2.46
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $211,582
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
235 Woodbine Dr	0.00mi	2/1.0	833 (0%)	1mo	$75,000	$90	99
351 Granda Vista Dr	0.26mi	2/1.0	826 (-1%)	22mo	$210,000	$254	68

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: 27.9%
• Equity multiple: 2.16×
• Total profit: $26,009
• Equity at exit: $11,928

10-year hold

• IRR: 35.4%
• Equity multiple: 4.26×
• Total profit: $73,071
• Equity at exit: $6,917

Cash invested: $22,400 (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 48380

• Active inventory: 51
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,600 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$201 /mo · $2,407/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $611

Break-even live

Break-even rent $827

Max offer price $80,000

Occupancy floor 57%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
445 Granda Vista Dr Milford, MI	3.0	2.0	900	$1,600	$1.78	44d	1	0.37mi

Listing history 5 events

1. 2026-05-15
   status Pending 1246-char remark

   Show marketing remark (1246 chars)

   Great opportunity on a rare triple-lot property located in the desirable Oak Park area! This home sits on 3 total buildable lots, offering endless potential for expansion, new construction, investment, or additional outdoor space. Recent improvements include a newly replaced septic system and septic field, new LVP flooring, and a newer fence enclosing approximately 1/3 acre. Structurally the home appears solid overall but will require roof replacement, as the current roof shows heavy moss growth. Property also needs clean-out and cosmetic updates, making it an excellent opportunity for investors, builders, or handy buyers looking to add value. Listing broker holds contractual equitable interest in the property and may receive consideration from the transaction. Property is being marketed pursuant to a purchase agreement with the seller. Closing will be conducted via contract assignment or double closing, with preference given to assignment. Seller to provide marketable title at closing. Title commitment available. Seller pays ALL: water bills owed, taxes owed, blight tickets or anything else. Buyer to pay closing costs, including transfer taxes, title insurance, closing fees. Sold AS IS - Buyer to verify all information listed

2. 2026-05-15
   status Pending

   Show marketing remark (1246 chars)

   Great opportunity on a rare triple-lot property located in the desirable Oak Park area! This home sits on 3 total buildable lots, offering endless potential for expansion, new construction, investment, or additional outdoor space. Recent improvements include a newly replaced septic system and septic field, new LVP flooring, and a newer fence enclosing approximately 1/3 acre. Structurally the home appears solid overall but will require roof replacement, as the current roof shows heavy moss growth. Property also needs clean-out and cosmetic updates, making it an excellent opportunity for investors, builders, or handy buyers looking to add value. Listing broker holds contractual equitable interest in the property and may receive consideration from the transaction. Property is being marketed pursuant to a purchase agreement with the seller. Closing will be conducted via contract assignment or double closing, with preference given to assignment. Seller to provide marketable title at closing. Title commitment available. Seller pays ALL: water bills owed, taxes owed, blight tickets or anything else. Buyer to pay closing costs, including transfer taxes, title insurance, closing fees. Sold AS IS - Buyer to verify all information listed

3. 2026-05-09
   listed $80,000 Active 1246-char remark

   Show marketing remark (1246 chars)

   Great opportunity on a rare triple-lot property located in the desirable Oak Park area! This home sits on 3 total buildable lots, offering endless potential for expansion, new construction, investment, or additional outdoor space. Recent improvements include a newly replaced septic system and septic field, new LVP flooring, and a newer fence enclosing approximately 1/3 acre. Structurally the home appears solid overall but will require roof replacement, as the current roof shows heavy moss growth. Property also needs clean-out and cosmetic updates, making it an excellent opportunity for investors, builders, or handy buyers looking to add value. Listing broker holds contractual equitable interest in the property and may receive consideration from the transaction. Property is being marketed pursuant to a purchase agreement with the seller. Closing will be conducted via contract assignment or double closing, with preference given to assignment. Seller to provide marketable title at closing. Title commitment available. Seller pays ALL: water bills owed, taxes owed, blight tickets or anything else. Buyer to pay closing costs, including transfer taxes, title insurance, closing fees. Sold AS IS - Buyer to verify all information listed

4. 2026-05-09
   listed $80,000 Active

   Show marketing remark (1246 chars)

   Great opportunity on a rare triple-lot property located in the desirable Oak Park area! This home sits on 3 total buildable lots, offering endless potential for expansion, new construction, investment, or additional outdoor space. Recent improvements include a newly replaced septic system and septic field, new LVP flooring, and a newer fence enclosing approximately 1/3 acre. Structurally the home appears solid overall but will require roof replacement, as the current roof shows heavy moss growth. Property also needs clean-out and cosmetic updates, making it an excellent opportunity for investors, builders, or handy buyers looking to add value. Listing broker holds contractual equitable interest in the property and may receive consideration from the transaction. Property is being marketed pursuant to a purchase agreement with the seller. Closing will be conducted via contract assignment or double closing, with preference given to assignment. Seller to provide marketable title at closing. Title commitment available. Seller pays ALL: water bills owed, taxes owed, blight tickets or anything else. Buyer to pay closing costs, including transfer taxes, title insurance, closing fees. Sold AS IS - Buyer to verify all information listed

5. 1991-04-17
   soldstatus $35,000

ⓘ 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: $2,407 · $201/mo
• Projected year-2 tax: $2,407 · $201/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,200
• − Mortgage interest: −$4,481
• − Property taxes: −$2,407
• − Insurance: −$400
• − Repairs & maintenance: −$1,536
• − Management: −$1,536
• − Depreciation: −$2,327
• Taxable income: $6,513
• Est. tax owed @ 24.0%: −$1,563
• After-tax cash flow: $5,764/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: Huron Valley Schools
• NCES district ID: 2618990
• Math proficiency: 42% ▼ -8.00%
• Reading proficiency: 56% ▼ -3.00%
• Median HH income: $76,011
• Composite: 44.39/100
• National rank: #2815
• State rank: #87 of 540 in MI

Livability — Milford

• Score: 87/100
• State rank: #17
• US rank: #275

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,501

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 (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 13% Slovak 4% Lithuanian 4%
• Foreign-born: 6% · Canada
• Languages at home: 95% English-only · Russian/Polish/Slavic 2% Spanish 1% German/W. Germanic 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: ▼ -153.74%
• Current HPI: 201.0924
• 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

+128.6% since first listed

5 events — show timeline

• 2026-05-15 Pending — MiRealSource-MiMLS
• 2026-05-15 Pending — REALCOMP
• 2026-05-09 Listed $80,000 REALCOMP
• 2026-05-09 Listed $80,000 MiRealSource-MiMLS
• 1991-04-17 Sold (Public Records) $35,000 Public Records

Property tax history

+6.4%/yr

Latest (2025): $2,407 · +2.3% YoY. Source: county tax records.