48 Augusta Ave · Pontiac, MI 48341

$199,000

12 bd · 9.0 ba · 1,413 sqft · MultiFamily · 75 Days on market

Built 1914 Poor condition 8,712 sqft lot $141/sqft · 83% above area

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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
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +1.0/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Wow, you don't want to miss this incredible opportunity! This 3-unit multifamily property offers the perfect chance to generate rental income while living in one unit if desired. The main floor features two one-bedroom units, and the upper level offers a two-bedroom unit. The property has seen several updates, and each unit includes its own designated storage area in the basement for added convenience. As an added bonus, the sale also includes the adjacent lot next door providing even more potential and value! (64-14-29-328-024)

Key facts

• Multifamily property
• Adjacent lot
• 8,712 sq ft lot

Tags

• MULTIFAMILY PROPERTY
• DESIGNATED STORAGE AREA
• ADJACENT LOT

What this means for you Summary

Snapshot

• This is a 2×1bd/1ba + 1×2bd/1ba units multifamily listed at $199k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $380/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $199k).
• Recommended offer: $187k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.2% vs local median 6.7% 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: 100 active listings in the ZIP; 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).
• At $3,183/mo this rent would consume 74% of the median local household income ($51k/yr) (locally 833% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 $56k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $21k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; list at $199k implies a 262% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $187,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.60% ✓
• Cap rate: 13.16%
• Cash-on-cash: 24.54%
• DSCR: 2.09
• GRM: 5.2

CMA / ARV

• ARV (median comp): $108,607
• List price: $199,000
• Delta: 83.23%
• Verdict: OVERPRICED
• Comps: 15 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 17.9%
• Equity multiple: 1.72×
• Total profit: $40,366
• Equity at exit: $29,672

10-year hold

• IRR: 26.4%
• Equity multiple: 3.31×
• Total profit: $128,783
• Equity at exit: $17,206

Cash invested: $55,720 (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 48341

• Active inventory: 100
• Price-to-rent: 16.2×

Monthly cashflow live

• Estimated rent: $3,183 medium
• Mortgage (P&I): −$1,044
• Tax est. 1.5%: −$249 /mo · $2,985/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$668
• Net cashflow: $1,139

Break-even live

Break-even rent $1,741

Max offer price $199,000

Occupancy floor 59%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,042
1× unit	2	1	$1,141
Total (3 units)			$3,183

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-05-12
   status Pending 534-char remark

   Show marketing remark (540 chars)

   Wow, you don’t want to miss this incredible opportunity! This 3-unit multifamily property offers the perfect chance to generate rental income while living in one unit if desired. The main floor features two one-bedroom units, and the upper level offers a two-bedroom unit. The property has seen several updates, and each unit includes its own designated storage area in the basement for added convenience. As an added bonus, the sale also includes the adjacent lot next door providing even more potential and value! (64-14-29-328-024)

2. 2026-05-12
   status Pending 540-char remark

   Show marketing remark (540 chars)

   Wow, you don’t want to miss this incredible opportunity! This 3-unit multifamily property offers the perfect chance to generate rental income while living in one unit if desired. The main floor features two one-bedroom units, and the upper level offers a two-bedroom unit. The property has seen several updates, and each unit includes its own designated storage area in the basement for added convenience. As an added bonus, the sale also includes the adjacent lot next door providing even more potential and value! (64-14-29-328-024)

3. 2026-03-19
   price $199,000 534-char remark

   Show marketing remark (534 chars)

   Wow, you don't want to miss this incredible opportunity! This 3-unit multifamily property offers the perfect chance to generate rental income while living in one unit if desired. The main floor features two one-bedroom units, and the upper level offers a two-bedroom unit. The property has seen several updates, and each unit includes its own designated storage area in the basement for added convenience. As an added bonus, the sale also includes the adjacent lot next door providing even more potential and value! (64-14-29-328-024)

4. 2026-03-18
   price $199,000 540-char remark

   Show marketing remark (540 chars)

   Wow, you don’t want to miss this incredible opportunity! This 3-unit multifamily property offers the perfect chance to generate rental income while living in one unit if desired. The main floor features two one-bedroom units, and the upper level offers a two-bedroom unit. The property has seen several updates, and each unit includes its own designated storage area in the basement for added convenience. As an added bonus, the sale also includes the adjacent lot next door providing even more potential and value! (64-14-29-328-024)

5. 2026-02-26
   listed $220,000 Active 534-char remark

   Show marketing remark (540 chars)

   Wow, you don’t want to miss this incredible opportunity! This 3-unit multifamily property offers the perfect chance to generate rental income while living in one unit if desired. The main floor features two one-bedroom units, and the upper level offers a two-bedroom unit. The property has seen several updates, and each unit includes its own designated storage area in the basement for added convenience. As an added bonus, the sale also includes the adjacent lot next door providing even more potential and value! (64-14-29-328-024)

6. 2026-02-26
   listed $220,000 Active 540-char remark

   Show marketing remark (540 chars)

   Wow, you don’t want to miss this incredible opportunity! This 3-unit multifamily property offers the perfect chance to generate rental income while living in one unit if desired. The main floor features two one-bedroom units, and the upper level offers a two-bedroom unit. The property has seen several updates, and each unit includes its own designated storage area in the basement for added convenience. As an added bonus, the sale also includes the adjacent lot next door providing even more potential and value! (64-14-29-328-024)

7. 2022-10-04
   status Pending
8. 2022-10-03
   soldstatus $55,000 Sold
9. 2022-10-03
   soldstatus $55,000 Closed
10. 2022-09-09
    listed $69,000 Active
11. 2022-09-09
    listed $69,000 Active
12. 2022-09-08
    historical $69,000
13. 2022-09-08
    historical $69,000

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 10% 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: $38,196
• − Mortgage interest: −$11,147
• − Property taxes: −$2,985
• − Insurance: −$995
• − Repairs & maintenance: −$3,056
• − Management: −$3,056
• − Depreciation: −$5,789
• Taxable income: $11,168
• Est. tax owed @ 24.0%: −$2,680
• After-tax cash flow: $10,991/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.

Condition & rehab AI · 0 photos

Poor 20/100 Extensive rehab

This 3-unit multifamily property requires extensive renovations to bring it up to modern standards, significantly impacting its resale and rental value.

Repairs flagged

• Major Kitchen countertops and cabinets — The countertops and cabinets are visibly worn and need replacement.
• Major Bathroom fixtures and tiles — The fixtures and tiles are outdated and in poor condition.
• Major Flooring — The flooring is worn and needs replacement.
• Major Interior walls and paint — The walls show significant wear and need repainting or replacement.
• Major Roof — The roof appears damaged and may need replacement.
• Major Exterior siding — The siding is peeling and needs repair or replacement.
• Major Windows — The windows are old and may need replacement.
• Major Foundation and structure — The foundation and structure show signs of wear and need inspection and repair.
• Major HVAC and mechanical systems — The systems are outdated and may need replacement or repair.

Value-add opportunities

• Resale Kitchen renovation — A modern kitchen will attract more buyers and increase the property's resale value.
• Resale Bathroom renovation — Upgraded bathrooms will appeal to potential buyers and increase the property's resale value.
• Resale Flooring replacement — New flooring will improve the property's appearance and increase its resale value.
• Resale Painting interior walls — Fresh paint will make the interior look more appealing and increase the property's resale value.
• Resale Roof replacement — A new roof will improve the property's appearance and increase its resale value.
• Resale Exterior siding repair/replacement — A new exterior will make the property look more attractive and increase its resale value.
• Resale Window replacement — New windows will improve the property's appearance and increase its resale value.
• Resale HVAC and mechanical systems replacement — Upgraded systems will improve the property's functionality and increase its resale value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen countertops and cabinets · The countertops and cabinets are visibly worn and need replacement.	Major	$15,000–50,000
Bathroom fixtures and tiles · The fixtures and tiles are outdated and in poor condition.	Major	$15,000–50,000
Flooring · The flooring is worn and needs replacement.	Major	$15,000–50,000
Interior walls and paint · The walls show significant wear and need repainting or replacement.	Major	$15,000–50,000
Roof · The roof appears damaged and may need replacement.	Major	$15,000–50,000
Exterior siding · The siding is peeling and needs repair or replacement.	Major	$15,000–50,000
Windows · The windows are old and may need replacement.	Major	$15,000–50,000
Foundation and structure · The foundation and structure show signs of wear and need inspection and repair.	Major	$15,000–50,000
HVAC and mechanical systems · The systems are outdated and may need replacement or repair.	Major	$15,000–50,000
Total estimated repair cost · 9 items		$135,000–450,000

Value-add ROI direction

• Resale Kitchen renovation — A modern kitchen will attract more buyers and increase the property's resale value. ↑
• Resale Bathroom renovation — Upgraded bathrooms will appeal to potential buyers and increase the property's resale value. ↑
• Resale Flooring replacement — New flooring will improve the property's appearance and increase its resale value. ↑
• Resale Painting interior walls — Fresh paint will make the interior look more appealing and increase the property's resale value. ↑
• Resale Roof replacement — A new roof will improve the property's appearance and increase its resale value. ↑
• Resale Exterior siding repair/replacement — A new exterior will make the property look more attractive and increase its resale value. ↑
• Resale Window replacement — New windows will improve the property's appearance and increase its resale value. ↑
• Resale HVAC and mechanical systems replacement — Upgraded systems will improve the property's functionality and increase its resale value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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
• County: Oakland County · 1,009,092 people
• City population: 44,593
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 18,924
• Household income: $51,390
• Rent vs Own: 46.6% rent · 53.4% own
• Severe rent burden: 833.0

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Black 57% White 22% Hispanic / Latino 12% Two or more races 11% Asian 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2%
• Common ancestry: Slovak 2% Romanian 1% Swiss 1%
• Foreign-born: 10% · Canada
• Languages at home: 86% English-only · Spanish 9% Other Indo-European 1% Other Asian/Pacific 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: ▼ -204.11%
• Current HPI: 257.8941
• Rent YoY: —
• 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

+188.4% since first listed

13 events — show timeline

• 2026-05-12 Pending — MiRealSource-MiMLS
• 2026-05-12 Pending — REALCOMP
• 2026-03-19 Price Changed $199,000 MiRealSource-MiMLS
• 2026-03-18 Price Changed $199,000 REALCOMP
• 2026-02-26 Listed $220,000 REALCOMP
• 2026-02-26 Listed $220,000 MiRealSource-MiMLS
• 2022-10-04 Pending — REALCOMP
• 2022-10-03 Sold (MLS) $55,000 MiRealSource-MiMLS
• 2022-10-03 Sold (MLS) $55,000 REALCOMP
• 2022-09-09 Listed $69,000 MiRealSource-MiMLS
• 2022-09-09 Listed $69,000 REALCOMP
• 2022-09-08 Coming Soon $69,000 MiRealSource-MiMLS
• 2022-09-08 Coming Soon $69,000 REALCOMP