129 Tulane #129 · Auburn Hills, MI 48326

$51,400

3 bd · 2.0 ba · 1,056 sqft · Manufactured · 74 Days on market

Built 2026 Average condition

---

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 +3.8/5.0
• Schools +3.7/10.0
• Condition / age +2.8/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* THIS IS A RESALE LISTING * You'll love living in this 3 bedroom, 2 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a clubhouse, a basketball court, a swimming pool, and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

Key facts

• Built 2026
• Listed 73 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $51k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $51k).
• Recommended offer: $48k (6.0% below list) — sets the bar for market timing.
• Cap rate 35.1% vs local median 3.7% in Auburn 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 76/100 on livability (#151 in MI, #3,766 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D+, schools D, amenities 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: Rents soft (-2.3%/yr); 110 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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 $355 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 + 0.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($48k) is reasonable based on typical stale-listing flexibility.

Recommended offer $48,316 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is D 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?
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: 3.91% ✓
• Cap rate: 35.09%
• Cash-on-cash: 102.84%
• DSCR: 5.58
• GRM: 2.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 5.47×
• Total profit: $64,361
• Equity at exit: $7,664

10-year hold

• IRR: —
• Equity multiple: 10.35×
• Total profit: $134,542
• Equity at exit: $4,444

Cash invested: $14,392 (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 48326

• Rents YoY: -2.3%
• Active inventory: 110
• Price-to-rent: 2.1×

Monthly cashflow live

• Estimated rent: $2,011 high
• Mortgage (P&I): −$270
• Tax est. 1.5%: −$64 /mo · $771/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $1,233

Break-even live

Break-even rent $450

Max offer price $51,400

Occupancy floor 34%

Sensitivity live

Price	-10% $1,269	-5% $1,251	+0% $1,233	+5% $1,216	+10% $1,198
Rent	-10% $1,074	-5% $1,154	+0% $1,233	+5% $1,313	+10% $1,392
Rate	-1.0pp $1,259	-0.5pp $1,246	base $1,233	+0.5pp $1,220	+1.0pp $1,206

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: $12,850
• Closing costs: $1,542
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
201 N Squirrel Rd Auburn Hills, MI	2.0–3.0	2.5–3.0	1475	$2,320	$1.57	0d	15	0.32mi
3250 Auburn Rd Unit The Carmichael Auburn Hills, MI	2.0	2.0	885	$2,150	$2.43	0d	1	0.48mi
27 S Squirrel Rd Unit 305 Auburn Hills, MI	2.0	2.0	885	$2,245	$2.54	3d	1	0.49mi
3280 S Adams Rd Auburn Hills, MI	2.0	1.0	780	$1,426	$1.83	3d	2	0.64mi
3161 Bloomfield Ln Auburn Hills, MI	1.0–2.0	1.0–1.5	937	$1,499	$1.60	0d	22	1.22mi
806 Bloomfield Village Blvd Unit K Auburn Hills, MI	2.0	1.0	881	$1,500	$1.70	44d	1	1.31mi
2862 Tall Oaks Ct Auburn Hills, MI	2.0	2.0	987	$1,520	$1.54	3d	6	1.31mi
676 Sheffield Rd Auburn Hills, MI	3.0	1.5	1421	$2,495	$1.76	0d	1	1.46mi

Listing history 16 events

1. 2026-06-21
   days on market $51,400 Active 74 DOM
2. 2026-06-18
   days on market $51,400 Active 71 DOM
3. 2026-06-17
   days on market $51,400 Active 70 DOM
4. 2026-06-16
   days on market $51,400 Active 69 DOM
5. 2026-06-15
   days on market $51,400 Active 68 DOM
6. 2026-06-13
   days on market $51,400 Active 66 DOM
7. 2026-06-13
   days on market $51,400 Active 65 DOM
8. 2026-06-09
   days on market $51,400 Active 62 DOM
9. 2026-06-08
   days on market $51,400 Active 61 DOM
10. 2026-06-07
    days on market $51,400 Active 60 DOM
11. 2026-06-04
    days on market $51,400 Active 57 DOM
12. 2026-06-03
    days on market $51,400 Active 56 DOM
13. 2026-06-02
    days on market $51,400 Active 55 DOM
14. 2026-06-01
    pricedays on market $51,400 Active 54 DOM
15. 2026-05-31
    days on market $50,900 Active 53 DOM
16. 2026-04-08
    listed $50,900 Active 404-char remark

    Show marketing remark (404 chars)

    * THIS IS A RESALE LISTING * You'll love living in this 3 bedroom, 2 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a clubhouse, a basketball court, a swimming pool, and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $24,130
• − Mortgage interest: −$2,879
• − Property taxes: −$771
• − Insurance: −$257
• − Repairs & maintenance: −$1,930
• − Management: −$1,930
• − Depreciation: −$1,495
• Taxable income: $14,867
• Est. tax owed @ 24.0%: −$3,568
• After-tax cash flow: $11,232/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

Average 55/100 Cosmetic rehab

This manufactured home is in good condition with a good foundation and structure. It has a good exterior and interior, but could benefit from landscaping and curb appeal improvements to enhance its resale and rental value.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhanced landscaping can improve both the resale and rental value by making the property more attractive.
• Both Painting interior and exterior — Fresh paint can make the home look newer and more appealing to potential buyers or renters.
• Both Landscaping and curb appeal improvements — Enhanced landscaping can improve both the resale and rental value by making the property more attractive.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhanced landscaping can improve both the resale and rental value by making the property more attractive. ↑
• Both Painting interior and exterior — Fresh paint can make the home look newer and more appealing to potential buyers or renters. ↑
• Both Landscaping and curb appeal improvements — Enhanced landscaping can improve both the resale and rental value by making the property more attractive. ↑

ⓘ 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 — Auburn Hills

• Score: 76/100
• State rank: #151
• US rank: #3766

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Auburn Hills, MI
• County: Oakland County · 1,009,092 people
• City population: 24,514
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 24,514
• Household income: $85,190
• Rent vs Own: 48.3% rent · 51.7% own
• Severe rent burden: 986.0

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 0.64)
• Race & ethnicity: White 56% Asian 15% Black 11% Hispanic / Latino 11% Two or more races 11%
• Hispanic origin (detail): Mexican 7% Puerto Rican 2%
• Common ancestry: Romanian 6% Slovak 2% Lithuanian 2%
• Foreign-born: 19% · Canada, China, Jamaica
• Languages at home: 76% English-only · Spanish 8% Other Indo-European 6% Other Asian/Pacific 4%

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: ▼ -298.32%
• Current HPI: 178.7685
• Rent YoY: ▼ -2.27%
• 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

1 event — show timeline

• 2026-04-08 Listed $50,900 Zillow