4080 Cass Elizabeth Rd · Keego Harbor, MI 48328

$244,900

3 bd · 2.0 ba · 1,634 sqft · SingleFamily public records · 31 Days on market

Built 2002 8,712 sqft lot $150/sqft · 20% above area Est $328k · 25% under

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Why this score? — see what drove the D 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 +8.6/30.0
• Livability +3.9/5.0
• Schools +3.0/10.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lucky You - you have a chance at this beautiful property! This home is Move-In-Ready! Clean as a Whistle!! Very Spacious 1634 sq. ft. home with 3 bedrooms and 2 bathrooms. Built in 2002, one of the newer homes in the sub. Basement is partially finished and has 9' 6" from floor to ceiling (7' 6" to ceiling tile). New Roof 2025, New Built-in dishwasher 2025, new city approved sewer line connection to city sewer (2026), new flooring in kitchen area and entry 2025, on-demand hot water. gutter guards and more. Door wall to deck off living room, Elizabeth Lake is walking distance (about 1 block). Beautiful beach, playground, boat wells, boat rental and more, covered patio and snack stand). ELEIA Lake Association privileges for dues of $299.00 a year (if over age 62 dues are $90.00 per year). Or take advantage of Cass Lake Dodge Park for $15.00 a year, also a short walk away. Take a short walk during your showing to see the beautiful beach. Appliances included-free standing gas stove, free standing refrigerator, built-in dishwasher, and washer. Desk in bedroom stays. Beautiful home absolutely perfect for anyone especially boaters, beach country lovers. UP NORTH feeling!!

Key facts

• Move-in-ready
• New flooring
• On-demand hot water

Tags

• MOVE-IN-READY
• NEW ROOF
• NEW BUILT-IN DISHWASHER
• NEW CITY APPROVED SEWER LINE
• NEW FLOORING
• ON-DEMAND HOT WATER

Property features AI

Finance

• Other: Lake privileges (Elizabeth Lake)
• Financial info: Annual tax amount listed

Exterior

• Parking: Driveway (no garage)
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Electric service with circuit breakers
• Home design: Single-family residence; One level; Aluminum and vinyl siding
• Construction: Aluminum siding; Vinyl siding; Built with one level
• Exterior features: Deck; Back yard fencing; Shed(s); Lake privileges (Elizabeth Lake); Paved road access; Ground-level entry with steps

Interior

• Kitchen: Dishwasher; Disposal; Range hood; Free-standing gas oven; Free-standing refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; Ceiling fans
• Interior features: Lighting; Smoke detector(s); Full, partially finished basement
• Laundry & utility: Washer; Laundry area (other)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $245k.

Deal economics

• At list price, monthly cash flow is $-211 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $208k (15.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $183k (25.2% below list).
• Recommended offer: $183k (25.2% below list) — sets the bar for 1% rule.
• Cap rate 5.3% vs local median 3.8% in Keego Harbor — 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 78/100 on livability (#110 in MI, #2,643 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D-, commute F.
• Waterford School District (suburban): math 26% / reading 42% proficiency, ranked #285 of 540 in MI (top 53%) — 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 at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).
• This rent runs 30% of the median local income ($72k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 31 days — a 3% lower offer ($238k) is reasonable based on typical stale-listing flexibility.
• 16 sale attempts since 29y 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.
• Current owner paid $80k; list at $245k implies a 207% gain — meaningful room to come down on a strong offer.

Recommended offer $183,104 (25.2% 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 31 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.75% ✗
• Cap rate: 5.26%
• Cash-on-cash: -3.69%
• DSCR: 0.84
• GRM: 11.1

CMA / ARV

• ARV (median comp): $327,891
• List price: $244,900
• Delta: -23.79%
• 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
976 Ledyard St	0.41mi	3/2.0	1,600 (-2%)	4mo	$265,000	$166	74
3640 Cass Elizabeth Rd	0.38mi	4/2.0 (+1)	1,588 (-3%)	3mo	$295,000	$186	70
1010 Pelham Blvd	0.57mi	3/2.0	1,556 (-5%)	1mo	$285,000	$183	65
1420 Roxford Ave	0.58mi	3/1.5	1,593 (-2%)	3mo	$305,000	$191	64
656 S Cass Lake Rd	0.62mi	3/1.5	1,660 (+2%)	4mo	$195,000	$117	63
4175 Motorway Dr	0.57mi	3/1.0	1,595 (-2%)	5mo	$225,000	$141	62
577 Lakeside Dr	0.39mi	3/2.0	1,785 (+9%)	7mo	$376,000	$211	60
715 Woodingham Ave	0.42mi	3/1.0	1,400 (-14%)	2mo	$263,000	$188	51
445 Lakeside Dr	0.56mi	3/1.0	1,480 (-9%)	5mo	$190,000	$128	50
515 S Winding Dr	0.57mi	3/2.5	1,850 (+13%)	0mo	$405,000	$219	49
581 S Winding Dr	0.51mi	3/2.5	1,875 (+15%)	7mo	$375,000	$200	44
4682 Hawkes Ave	0.71mi	3/1.5	1,439 (-12%)	8mo	$256,000	$178	38

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: -22.5%
• Equity multiple: 0.23×
• Total profit: $-53,123
• Equity at exit: $36,515

10-year hold

• IRR: -16.7%
• Equity multiple: 0.07×
• Total profit: $-63,546
• Equity at exit: $21,174

Cash invested: $68,572 (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 48328

• Active inventory: 155
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $1,831 high
• Mortgage (P&I): −$1,284
• Tax from tax record: −$271 /mo · $3,256/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $-211

Break-even live

Break-even rent $2,098

Max offer price $207,608

Occupancy floor —

Sensitivity live

Price	-10% $-72	-5% $-142	+0% $-211	+5% $-280	+10% $-350
Rent	-10% $-356	-5% $-283	+0% $-211	+5% $-139	+10% $-66
Rate	-1.0pp $-88	-0.5pp $-149	base $-211	+0.5pp $-275	+1.0pp $-339

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: $61,225
• Closing costs: $7,347
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3530 Denise Ct Waterford Twp, MI	1.0–2.0	1.0–1.5	890	$1,975	$2.22	0d	15	0.50mi
3530 Denise Ct Waterford Twp, MI	1.0–2.0	1.0–1.5	1004	$1,910	$1.90	25d	15	0.50mi
1574 Kessler Ave Keego Harbor, MI	3.0	2.5	1659	$2,500	$1.51	4d	1	1.05mi
131 Doremus Ave Waterford, MI	3.0	1.0	1072	$1,800	$1.68	26d	1	1.25mi
5278 Rosamond Ln Waterford Twp, MI	1.0–2.0	1.0–1.5	997	$1,485	$1.49	0d	13	1.28mi
5689 Cooley Village Dr Waterford Twp, MI	2.0	1.5	1100	$1,250	$1.14	45d	1	1.47mi

Listing history 50 events

1. 2026-06-21
   days on market $244,900 Active 31 DOM
2. 2026-06-18
   days on market $244,900 Active 28 DOM
3. 2026-06-17
   days on market $244,900 Active 27 DOM
4. 2026-06-16
   days on market $244,900 Active 26 DOM
5. 2026-06-15
   days on market $244,900 Active 25 DOM
6. 2026-06-13
   days on market $244,900 Active 23 DOM
7. 2026-06-09
   pricedays on market $244,900 Active 19 DOM

   Show marketing remark (1192 chars)

   Lucky You - you have a chance at this beautiful property! This home is Move-In-Ready! Clean as a Whistle!! Very Spacious 1634 sq. ft. home with 3 bedrooms and 2 bathrooms. Built in 2002, one of the newer homes in the sub. Basement is partially finished and has 9' 6" from floor to ceiling (7' 6" to ceiling tile). New Roof 2025, New Built-in dishwasher 2025, new city approved sewer line connection to city sewer (2026), new flooring in kitchen area and entry 2025, on-demand hot water. gutter guards and more. Door wall to deck off living room, Elizabeth Lake is walking distance (about 1 block). Beautiful beach, playground, boat wells, boat rental and more, covered patio and snack stand). ELEIA Lake Association privileges for dues of $299.00 a year (if over age 62 dues are $90.00 per year). Or take advantage of Cass Lake Dodge Park for $15.00 a year, also a short walk away. Take a short walk during your showing to see the beautiful beach. Appliances included-free standing gas stove, free standing refrigerator, built-in dishwasher, and washer. Desk in bedroom stays. Beautiful home absolutely perfect for anyone especially boaters, beach country lovers. UP NORTH feeling!!

8. 2026-06-08
   days on market $249,900 Active 18 DOM
9. 2026-06-07
   days on market $249,900 Active 17 DOM
10. 2026-06-04
    days on market $249,900 Active 14 DOM
11. 2026-06-03
    days on market $249,900 Active 13 DOM
12. 2026-06-02
    days on market $249,900 Active 12 DOM
13. 2026-06-01
    days on market $249,900 Active 11 DOM
14. 2026-05-31
    days on market $249,900 Active 10 DOM
15. 2026-05-06
    status Active 1192-char remark
16. 2026-05-05
    status Active 1192-char remark
17. 2026-04-13
    status Pending 1192-char remark
18. 2026-04-13
    status Pending 1192-char remark
19. 2026-04-12
    historical 1192-char remark
20. 2026-04-05
    price $249,900 1192-char remark
21. 2026-04-05
    price $249,900 1192-char remark
22. 2026-02-28
    price $255,000 1192-char remark
23. 2026-02-27
    status Active 1192-char remark
24. 2026-02-27
    price $255,000 1192-char remark
25. 2026-02-27
    status Active 1192-char remark
26. 2026-02-10
    historical Accepting Backup Offers 1192-char remark
27. 2026-02-10
    historical Active Under Contract 1192-char remark
28. 2026-01-29
    status Active 1192-char remark
29. 2026-01-29
    status Active 1192-char remark
30. 2026-01-13
    status Pending 1192-char remark
31. 2026-01-13
    status Pending 1192-char remark
32. 2026-01-05
    historical Accepting Backup Offers 1192-char remark
33. 2026-01-05
    historical Active Under Contract 1192-char remark
34. 2025-11-21
    status Active 1192-char remark
35. 2025-11-21
    status Active 1192-char remark
36. 2025-11-18
    status Pending 1192-char remark
37. 2025-11-18
    status Pending 1192-char remark
38. 2025-11-14
    historical Accepting Backup Offers 1192-char remark
39. 2025-11-14
    historical Active Under Contract 1192-char remark
40. 2025-10-14
    price $275,000 1192-char remark
41. 2025-10-13
    price $275,000 1192-char remark
42. 2025-09-23
    listed $299,900 Active 1192-char remark
43. 2025-09-23
    listed $299,900 Active 1192-char remark
44. 2014-02-03
    soldstatus $79,900
45. 2013-12-19
    soldstatus $79,900
46. 2013-12-19
    soldstatus $79,900
47. 2013-09-18
    historical
48. 2013-09-18
    historical
49. 2013-07-17
    listed $79,900
50. 2013-07-16
    listed $79,900

ⓘ 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: $3,256 · $271/mo
• Projected year-2 tax: $3,514 · $293/mo
• Expected delta: +$258/yr (+$21/mo · 7.9%)

ⓘ 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: $21,972
• − Mortgage interest: −$13,718
• − Property taxes: −$3,256
• − Insurance: −$1,224
• − Repairs & maintenance: −$1,758
• − Management: −$1,758
• − Depreciation: −$7,124
• Taxable loss: −$6,866
• Est. tax savings @ 24.0%: +$1,648
• After-tax cash flow: $-885/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: Waterford School District
• NCES district ID: 2635310
• Math proficiency: 26% ▼ -5.00%
• Reading proficiency: 42% ▼ -1.00%
• Median HH income: $55,581
• Composite: 29.99/100
• National rank: #6364
• State rank: #285 of 540 in MI

Livability — Keego Harbor

• Score: 78/100
• State rank: #110
• US rank: #2643

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Oakland County · 1,009,092 people
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 24,478
• Household income: $72,299
• Rent vs Own: 33.3% rent · 66.7% own
• Severe rent burden: 1013.0

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 (73%)
• Race & ethnicity: White 73% Hispanic / Latino 10% Two or more races 9% Black 9% Asian 2%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Romanian 7% Lithuanian 3% Slovak 3%
• Foreign-born: 6% · Canada
• Languages at home: 90% English-only · Spanish 4% Other Asian/Pacific 2% 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: ▼ -249.13%
• Current HPI: 191.2771
• 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

+390.8% since first listed

48 events — show timeline

• 2026-06-09 Price Changed $244,900 MiRealSource-MiMLS
• 2026-06-08 Price Changed $244,900 REALCOMP
• 2026-05-21 Listing Removed — MiRealSource-MiMLS
• 2026-05-21 Listed $249,900 REALCOMP
• 2026-05-21 Listed $249,900 MiRealSource-MiMLS
• 2026-05-06 Relisted — MiRealSource-MiMLS
• 2026-05-05 Relisted — REALCOMP
• 2026-04-13 Listing Removed — REALCOMP
• 2026-04-13 Pending — MiRealSource-MiMLS
• 2026-04-13 Pending — REALCOMP
• 2026-04-12 Listing Removed — MiRealSource-MiMLS
• 2026-04-05 Price Changed $249,900 MiRealSource-MiMLS
• 2026-04-05 Price Changed $249,900 REALCOMP
• 2026-02-28 Price Changed $255,000 MiRealSource-MiMLS
• 2026-02-27 Relisted — MiRealSource-MiMLS
• 2026-02-27 Price Changed $255,000 REALCOMP
• 2026-02-27 Relisted — REALCOMP
• 2026-02-10 Contingent — MiRealSource-MiMLS
• 2026-02-10 Contingent — REALCOMP
• 2026-01-29 Relisted — MiRealSource-MiMLS
• 2026-01-29 Relisted — REALCOMP
• 2026-01-13 Pending — MiRealSource-MiMLS
• 2026-01-13 Pending — REALCOMP
• 2026-01-05 Contingent — MiRealSource-MiMLS
• 2026-01-05 Contingent — REALCOMP
• 2025-11-21 Relisted — MiRealSource-MiMLS
• 2025-11-21 Relisted — REALCOMP
• 2025-11-18 Pending — MiRealSource-MiMLS
• 2025-11-18 Pending — REALCOMP
• 2025-11-14 Contingent — MiRealSource-MiMLS
• 2025-11-14 Contingent — REALCOMP
• 2025-10-14 Price Changed $275,000 MiRealSource-MiMLS
• 2025-10-13 Price Changed $275,000 REALCOMP
• 2025-09-23 Listed $299,900 REALCOMP
• 2025-09-23 Listed $299,900 MiRealSource-MiMLS
• 2014-02-03 Sold (Public Records) $79,900 Public Records
• 2013-12-19 Sold (MLS) $79,900 MiRealSource-MiMLS
• 2013-12-19 Sold (MLS) $79,900 REALCOMP
• 2013-09-18 Listing Removed — MiRealSource-MiMLS
• 2013-09-18 Listing Removed — REALCOMP
• 2013-07-17 Listed $79,900 MiRealSource-MiMLS
• 2013-07-16 Listed $79,900 REALCOMP
• 2002-01-28 Sold (Public Records) $12,000 Public Records
• 2002-01-10 Sold (MLS) $45,000 MiRealSource-MiMLS
• 2001-10-29 Listing Removed — MiRealSource-MiMLS
• 2001-10-03 Listed $49,900 MiRealSource-MiMLS
• 1997-08-23 Listing Removed — REALCOMP
• 1997-04-22 Listed $49,900 REALCOMP

Property tax history

+4.8%/yr

Latest (2025): $3,256 · +26.3% YoY. Source: county tax records.