2472 Tackles Dr

Village of Clarkston, MI 48386

$245,000D+

3 bd · 1.5 ba · 1,190 sqft · Built 1945 · SingleFamily · Pending · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,097/mo
• Mortgage (P&I): −$1,285
• Tax + insurance: −$362
• HOA: −$0
• Vac / Maint / Mgmt: −$440
• Net cashflow: $10/mo
• Annual: $124/yr
• Cap rate: 6.34%
• Cash-on-cash: 0.18%
• DSCR: 1.01
• 1% rule: 0.86%
• Cash to close: $68,600

Investor read

• This is a 3-bed/1.5-bath single-family listed at $245k.
• At list price, monthly cash flow is $10 ($124/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $210k (14.4% below list).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $210k (14.4% below list) — sets the bar for 1% rule.
• 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.
• Location reads 79/100 on livability (#98 in MI, #2,255 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F.
• Huron Valley Schools (suburban): math 42% / reading 56% proficiency, ranked #87 of 540 in MI (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Oxbow Elementary School (math 32% / reading 37%, grade F, #744 of 1,397 statewide, top 57%, 417 students, 56% FRL); White Lake Middle School (math 38% / reading 52%, grade D, #166 of 493 statewide, top 34%, 532 students, 37% FRL); Lakeland High School (math 34% / reading 64%, grade D, #178 of 713 statewide, top 25%, 1,141 students, 26% FRL) — zoned schools average 40% FRL vs 22% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 148 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).
• Oakland County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 4 sale attempts since 4y 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 $185k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Cap rate 6.3% vs local median 3.2% in Village of Clarkston — 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.

Questions for listing agent

• Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.