1121 Marquette Ct · Rochester Hills, MI 48307

$140,000

2 bd · 1.0 ba · 1,250 sqft · Condo · 44 Days on market

Built 1977 $112/sqft · 49% below area Est $274k · 49% under $611/mo HOA · 32% of rent

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Why this score? — see what drove the C- 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).

• ARV discount +15.0/15.0
• Cash flow +10.6/30.0
• 1% rule +8.6/10.0
• Schools +5.9/10.0
• Livability +3.9/5.0
• DSCR +3.0/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

EQUITY "CASH ONLY" PURCHASE! THIS IS A COOPERATIVE, NOT A CONDO. NO MORTGAGES ACCEPTED. This residence must be owner occupied; rentals are not allowed. Association fee includes water, sewer, lawn care, trash, snow removal and exterior maintenance. Real estate taxes are included in monthly association fee. Also includes interior maintenance for furnace, central air, water heater, windows, refrigerator and oven/range. Community benefits include clubhouse, swimming pool and sidewalks. Membership application process is required. The Purchase Agreement is contingent on approval from the Avon Hills co-op, including background check. Additional information available from the co-op office. Purchase documents are in additional documents link. Very clean unit with luxury vinyl flooring in kitchen and great room. Newer carpet in bedrooms. Spacious eat-in kitchen with doorwall leading to patio and fenced yard. Very affordable living.

Key facts

• Oven range
• Water heater
• Refrigerator

Tags

• ASSOCIATION FEE INCLUDES WATER
• CENTRAL AIR
• WATER HEATER
• WINDOWS
• REFRIGERATOR
• OVEN RANGE

🏷️ Possibly a rental listed for sale. The $140,000 price doesn't fit this home's estimated sale value (~$274,205) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $140k.

Deal economics

• At list price, monthly cash flow is $-70 ($-838/yr) — negative.
• To cash-flow at today's rent, offer at most $130k (7.2% below list).
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $130k (7.2% below list) — sets the bar for cash-flow.
• Cap rate 5.7% vs local median 2.8% 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); 216 active listings in the ZIP; 10 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 $968 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 17y 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 32% of rent.

Recommended offer $129,897 (7.2% below list)

Questions for the listing agent

1. 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?
2. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
3. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.36% ✓
• Cap rate: 5.69%
• Cash-on-cash: -2.14%
• DSCR: 0.90
• GRM: 6.1

CMA / ARV

• ARV (median comp): $274,205
• List price: $140,000
• Delta: -48.94%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.78% rent growth · sell at horizon

5-year hold

• IRR: -21.8%
• Equity multiple: 0.26×
• Total profit: $-29,045
• Equity at exit: $20,874

10-year hold

• IRR: -20.3%
• Equity multiple: 0.01×
• Total profit: $-38,649
• Equity at exit: $12,105

Cash invested: $39,200 (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: 216
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,910 high
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,100/yr
• Insurance: −$58
• HOA: −$611
• Vacancy / Maint / Mgmt: −$401
• Net cashflow: $-70

Break-even live

Break-even rent $1,998

Max offer price $129,897

Occupancy floor 99%

Sensitivity live

Price	-10% $27	-5% $-21	+0% $-70	+5% $-118	+10% $-167
Rent	-10% $-221	-5% $-145	+0% $-70	+5% $6	+10% $81
Rate	-1.0pp $1	-0.5pp $-34	base $-70	+0.5pp $-106	+1.0pp $-143

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 10 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	0.16mi
1880 E Avon Rd Rochester Hills, MI	2.0	2.0	1294	$4,470	$3.45	0d	1	0.44mi
1090 Academy Dr Rochester Hills, MI	2.0–3.0	2.0	1565	$2,185	$1.40	0d	1	0.54mi
1772 Flagstone Cir Rochester, MI	2.0	2.0	1623	$1,800	$1.11	19d	1	1.05mi
1908 Flagstone Cir Rochester, MI	2.0	2.0	1338	$1,750	$1.31	6d	1	1.09mi
430 Baldwin Ave #75 Rochester, MI	2.0	1.0	997	$1,450	$1.45	44d	1	1.28mi
440 Baldwin Ave Rochester, MI	2.0	1.0	1050	$1,350	$1.29	44d	1	1.28mi
701 Green Cir Rochester, MI	1.0–3.0	1.0–2.5	1133	$2,011	$1.77	0d	46	1.36mi
1401 S Rochester Rd Rochester Hills, MI	3.0	1.0–2.0	1011	$1,950	$1.93	44d	4	1.48mi
1401 S Rochester Rd Rochester Hills, MI	3.0	1.0–2.0	1024	$2,213	$2.16	0d	7	1.48mi

HOA detail condo

• Monthly dues: $611 · $7,332/yr
• Likely covers: watersewertrashlandscapingsnow removalexterior maint.pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-07
   statusdays on market $140,000 Pending 44 DOM
2. 2026-06-04
   days on market $140,000 Active Under Contract 43 DOM
3. 2026-06-03
   days on market $140,000 Active Under Contract 42 DOM
4. 2026-06-02
   days on market $140,000 Active Under Contract 41 DOM
5. 2026-06-01
   days on market $140,000 Active Under Contract 40 DOM
6. 2026-05-31
   days on market $140,000 Active Under Contract 39 DOM
7. 2026-05-10
   historical Accepting Backup Offers 945-char remark

   Show marketing remark (945 chars)

   EQUITY "CASH ONLY" PURCHASE! THIS IS A COOPERATIVE, NOT A CONDO. NO MORTGAGES ACCEPTED. This residence must be owner occupied; rentals are not allowed. Association fee includes water, sewer, lawn care, trash, snow removal and exterior maintenance. Real estate taxes are included in monthly association fee. Also includes interior maintenance for furnace, central air, water heater, windows, refrigerator and oven/range. Community benefits include clubhouse, swimming pool and sidewalks. Membership application process is required. The Purchase Agreement is contingent on approval from the Avon Hills co-op, including background check. Additional information available from the co-op office. Purchase documents are in additional documents link. Very clean unit with luxury vinyl flooring in kitchen and great room. Newer carpet in bedrooms. Spacious eat-in kitchen with doorwall leading to patio and fenced yard. Very affordable living.

8. 2026-05-10
   historical Active Under Contract 945-char remark

   Show marketing remark (945 chars)

   EQUITY "CASH ONLY" PURCHASE! THIS IS A COOPERATIVE, NOT A CONDO. NO MORTGAGES ACCEPTED. This residence must be owner occupied; rentals are not allowed. Association fee includes water, sewer, lawn care, trash, snow removal and exterior maintenance. Real estate taxes are included in monthly association fee. Also includes interior maintenance for furnace, central air, water heater, windows, refrigerator and oven/range. Community benefits include clubhouse, swimming pool and sidewalks. Membership application process is required. The Purchase Agreement is contingent on approval from the Avon Hills co-op, including background check. Additional information available from the co-op office. Purchase documents are in additional documents link. Very clean unit with luxury vinyl flooring in kitchen and great room. Newer carpet in bedrooms. Spacious eat-in kitchen with doorwall leading to patio and fenced yard. Very affordable living.

9. 2026-04-20
   listed $140,000 Active 945-char remark

   Show marketing remark (945 chars)

   EQUITY "CASH ONLY" PURCHASE! THIS IS A COOPERATIVE, NOT A CONDO. NO MORTGAGES ACCEPTED. This residence must be owner occupied; rentals are not allowed. Association fee includes water, sewer, lawn care, trash, snow removal and exterior maintenance. Real estate taxes are included in monthly association fee. Also includes interior maintenance for furnace, central air, water heater, windows, refrigerator and oven/range. Community benefits include clubhouse, swimming pool and sidewalks. Membership application process is required. The Purchase Agreement is contingent on approval from the Avon Hills co-op, including background check. Additional information available from the co-op office. Purchase documents are in additional documents link. Very clean unit with luxury vinyl flooring in kitchen and great room. Newer carpet in bedrooms. Spacious eat-in kitchen with doorwall leading to patio and fenced yard. Very affordable living.

10. 2026-04-20
    listed $140,000 Active 945-char remark

    Show marketing remark (945 chars)

    EQUITY "CASH ONLY" PURCHASE! THIS IS A COOPERATIVE, NOT A CONDO. NO MORTGAGES ACCEPTED. This residence must be owner occupied; rentals are not allowed. Association fee includes water, sewer, lawn care, trash, snow removal and exterior maintenance. Real estate taxes are included in monthly association fee. Also includes interior maintenance for furnace, central air, water heater, windows, refrigerator and oven/range. Community benefits include clubhouse, swimming pool and sidewalks. Membership application process is required. The Purchase Agreement is contingent on approval from the Avon Hills co-op, including background check. Additional information available from the co-op office. Purchase documents are in additional documents link. Very clean unit with luxury vinyl flooring in kitchen and great room. Newer carpet in bedrooms. Spacious eat-in kitchen with doorwall leading to patio and fenced yard. Very affordable living.

11. 2010-01-29
    historical
12. 2010-01-29
    historical
13. 2009-02-11
    listed $18,000
14. 2009-02-09
    listed $18,000

ⓘ 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: $22,917
• − Mortgage interest: −$7,842
• − Property taxes: −$2,100
• − Insurance: −$700
• − Repairs & maintenance: −$1,833
• − Management: −$1,833
• − HOA: −$7,332
• − Depreciation: −$4,073
• Taxable loss: −$2,797
• Est. tax savings @ 24.0%: +$671
• After-tax cash flow: $-167/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

+677.8% since first listed

8 events — show timeline

• 2026-05-10 Contingent — MiRealSource-MiMLS
• 2026-05-10 Contingent — REALCOMP
• 2026-04-20 Listed $140,000 REALCOMP
• 2026-04-20 Listed $140,000 MiRealSource-MiMLS
• 2010-01-29 Listing Removed — REALCOMP
• 2010-01-29 Listing Removed — MiRealSource-MiMLS
• 2009-02-11 Listed $18,000 MiRealSource-MiMLS
• 2009-02-09 Listed $18,000 REALCOMP