461 Flamingo #344 · Rochester Hills, MI 48309

$115,000

3 bd · 2.0 ba · 1,232 sqft · Manufactured · 346 Days on market

Built 2025 Poor condition

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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 +3.9/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Coming soon. You might be dreaming of this home! Love the kitchen island and dining area! Entertaining in this open floor plan home is easy! Primary bedroom is a suite with 2 closets, and a shower bath. Another full bath with tub/shower is next to bedrooms 2 and 3. Large laundry room/mud room has more storage space. Central A/C. Shed comes with this home for your storage.

Key facts

• Built 2025
• Listed 346 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $115k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $896 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.6% 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.
• Avondale School District (suburban): math 34% / reading 48% proficiency, ranked #162 of 540 in MI (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 155 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $795 of loan paydown is wiped out by about $3k 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 $32k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 346 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.

Recommended offer $101,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 346 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.86% ✓
• Cap rate: 15.65%
• Cash-on-cash: 33.40%
• DSCR: 2.49
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $34,496
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17 Quail St	0.41mi	3/2.0	1,373 (+11%)	13mo	$38,000	$28	51

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: 28.7%
• Equity multiple: 2.20×
• Total profit: $38,480
• Equity at exit: $17,147

10-year hold

• IRR: 36.1%
• Equity multiple: 4.33×
• Total profit: $107,142
• Equity at exit: $9,943

Cash invested: $32,200 (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 48309

• Active inventory: 155
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $2,140 high
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$450
• Net cashflow: $896

Break-even live

Break-even rent $1,006

Max offer price $115,000

Occupancy floor 53%

Sensitivity live

Price	-10% $976	-5% $936	+0% $896	+5% $857	+10% $817
Rent	-10% $727	-5% $812	+0% $896	+5% $981	+10% $1,065
Rate	-1.0pp $954	-0.5pp $925	base $896	+0.5pp $866	+1.0pp $836

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2600 W Auburn Rd Rochester Hills, MI	2.0–3.0	2.0	1264	$1,759	$1.39	6d	1	0.31mi
2900 W Hamlin Rd Rochester Hills, MI	1.0–3.0	1.0–2.5	1248	$3,345	$2.68	0d	39	0.63mi
2450 Norfolk Unit 10202 Rochester Hills, MI	2.0	2.0	1340	$1,640	$1.22	0d	1	0.65mi
3017 Tribute Creek Blvd Oakland Charter Township, MI	2.0	2.0	1455	$2,552	$1.75	0d	3	1.02mi
3200 River Oaks Blvd Rochester Hills, MI	2.0	2.0	1625	$2,128	$1.31	0d	10	1.47mi
3280 S Adams Rd Auburn Hills, MI	2.0	1.0	780	$1,426	$1.83	3d	2	1.47mi

Listing history 5 events

1. 2026-05-13
   price $115,000 374-char remark

   Show marketing remark (374 chars)

   Coming soon. You might be dreaming of this home! Love the kitchen island and dining area! Entertaining in this open floor plan home is easy! Primary bedroom is a suite with 2 closets, and a shower bath. Another full bath with tub/shower is next to bedrooms 2 and 3. Large laundry room/mud room has more storage space. Central A/C. Shed comes with this home for your storage.

2. 2026-05-12
   price $103,999 374-char remark

   Show marketing remark (374 chars)

   Coming soon. You might be dreaming of this home! Love the kitchen island and dining area! Entertaining in this open floor plan home is easy! Primary bedroom is a suite with 2 closets, and a shower bath. Another full bath with tub/shower is next to bedrooms 2 and 3. Large laundry room/mud room has more storage space. Central A/C. Shed comes with this home for your storage.

3. 2026-04-25
   price $115,000 374-char remark

   Show marketing remark (374 chars)

   Coming soon. You might be dreaming of this home! Love the kitchen island and dining area! Entertaining in this open floor plan home is easy! Primary bedroom is a suite with 2 closets, and a shower bath. Another full bath with tub/shower is next to bedrooms 2 and 3. Large laundry room/mud room has more storage space. Central A/C. Shed comes with this home for your storage.

4. 2026-04-02
   price $102,999 374-char remark

   Show marketing remark (374 chars)

   Coming soon. You might be dreaming of this home! Love the kitchen island and dining area! Entertaining in this open floor plan home is easy! Primary bedroom is a suite with 2 closets, and a shower bath. Another full bath with tub/shower is next to bedrooms 2 and 3. Large laundry room/mud room has more storage space. Central A/C. Shed comes with this home for your storage.

5. 2025-06-18
   listed $115,000 Active 374-char remark

   Show marketing remark (374 chars)

   Coming soon. You might be dreaming of this home! Love the kitchen island and dining area! Entertaining in this open floor plan home is easy! Primary bedroom is a suite with 2 closets, and a shower bath. Another full bath with tub/shower is next to bedrooms 2 and 3. Large laundry room/mud room has more storage space. Central A/C. Shed comes with this home for your storage.

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,686
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$2,055
• − Management: −$2,055
• − Depreciation: −$3,345
• Taxable income: $9,489
• Est. tax owed @ 24.0%: −$2,277
• After-tax cash flow: $8,478/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 · 1 photo

Poor 20/100 Extensive rehab

This manufactured home requires extensive repairs and updates to bring it up to a livable condition. Significant investment is needed to improve its condition and resale value.

Repairs flagged

• Major Kitchen cabinets — Worn and in need of replacement
• Major Countertops — Dirty and in need of cleaning or replacement
• Major Appliances — Old and likely in need of replacement
• Major Bathroom fixtures — Old and in need of replacement
• Major Hardwood floors — Worn and in need of refinishing or replacement
• Major Paint — Chipped and faded, needs repainting

Value-add opportunities

• Resale Replace worn kitchen cabinets and countertops — New cabinets and countertops will attract buyers
• Resale Replace old appliances — Modern appliances will appeal to buyers
• Resale Replace old bathroom fixtures — New fixtures will enhance the bathroom's appeal
• Resale Refinish or replace hardwood floors — New floors will improve the home's overall appearance
• Resale Repaint interior walls — Fresh paint will make the home more inviting
• Both Landscaping and curb appeal — A well-maintained exterior will attract both buyers and renters

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn and in need of replacement	Major	$15,000–50,000
Countertops · Dirty and in need of cleaning or replacement	Major	$15,000–50,000
Appliances · Old and likely in need of replacement	Major	$15,000–50,000
Bathroom fixtures · Old and in need of replacement	Major	$15,000–50,000
Hardwood floors · Worn and in need of refinishing or replacement	Major	$15,000–50,000
Paint · Chipped and faded, needs repainting	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Resale Replace worn kitchen cabinets and countertops — New cabinets and countertops will attract buyers ↑
• Resale Replace old appliances — Modern appliances will appeal to buyers ↑
• Resale Replace old bathroom fixtures — New fixtures will enhance the bathroom's appeal ↑
• Resale Refinish or replace hardwood floors — New floors will improve the home's overall appearance ↑
• Resale Repaint interior walls — Fresh paint will make the home more inviting ↑
• Both Landscaping and curb appeal — A well-maintained exterior will attract both buyers and renters ↑

ⓘ 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: Avondale School District
• NCES district ID: 2603690
• Math proficiency: 34% ▼ -8.00%
• Reading proficiency: 48% ▼ -4.00%
• Median HH income: $71,549
• Composite: 37.33/100
• National rank: #4442
• State rank: #162 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
• City population: 44,714
• Population (ZIP): 30,254

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 (75%)
• Race & ethnicity: White 75% Asian 12% Two or more races 6% Hispanic / Latino 4% Black 4%
• Common ancestry: Romanian 10% Lithuanian 3% Slovak 3%
• Foreign-born: 19% · Canada, China, South Korea
• Languages at home: 80% English-only · Other Indo-European 6% Chinese 3% Russian/Polish/Slavic 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: ▼ -136.99%
• Current HPI: 201.9197
• 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

5 events — show timeline

• 2026-05-13 Price Changed $115,000 Zillow
• 2026-05-12 Price Changed $103,999 Zillow
• 2026-04-25 Price Changed $115,000 Zillow
• 2026-04-02 Price Changed $102,999 Zillow
• 2025-06-18 Listed $115,000 Zillow