148 Russell St · Pontiac, MI 48342

$79,900

2 bd · 1.0 ba · 1,059 sqft · SingleFamily public records · 37 Days on market

Built 1920 7,405 sqft lot $75/sqft · 26% below area Est $59k · 34% over

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Why this score? — see what drove the C 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
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Long-term stability meets long-term upside with this solid investment property, occupied by the same reliable tenant for the past 13 years. The home sits on two included lots, offering rare expansion potential or added land value in a market that continues to grow year after year. Recent capital improvements include a brand-new roof, reducing near-term maintenance costs and strengthening the property's long-term performance. With steady rental income in place and significant appreciation potential in an area seeing ongoing development, this is a turnkey opportunity for investors looking to secure a cash-flowing asset with room to scale.

Key facts

• Two included lots
• Brand-new roof
• Steady rental income

Tags

• TWO INCLUDED LOTS
• BRAND-NEW ROOF
• STEADY RENTAL INCOME

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Ground-level entry with steps
• Construction: Vinyl siding; Asphalt roof; Block foundation; Built on a 0.17-acre lot (50 x 147)
• Exterior features: Paved road access; Pets allowed

Interior

• Bedrooms: Total of 3 rooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Unfurnished; Gas water heater; Unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $500 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.8% vs local median 5.4% 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: 90 active listings in the ZIP; 25 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $552 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 + 3.0% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 22y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $63k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.59% ✓
• Cap rate: 13.80%
• Cash-on-cash: 26.80%
• DSCR: 2.19
• GRM: 5.2

CMA / ARV

• ARV (median comp): $59,417
• List price: $79,900
• Delta: 34.47%
• Verdict: OVERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
287 S Anderson Ave	0.35mi	3/1.0 (+1)	1,008 (-5%)	3mo	$134,900	$134	68
328 Whittemore St	0.60mi	2/1.0	1,034 (-2%)	6mo	$64,500	$62	63
184 N Astor St	0.63mi	3/1.0 (+1)	1,046 (-1%)	1mo	$95,100	$91	63
92 N Ardmore St	0.59mi	3/1.0 (+1)	1,040 (-2%)	4mo	$169,000	$163	61
447 E Wilson Ave	0.70mi	2/1.0	1,018 (-4%)	5mo	$38,000	$37	57
385 Whittemore St	0.50mi	3/1.0 (+1)	959 (-9%)	0mo	$1,550	$2	56
187 Wall St	0.59mi	3/1.0 (+1)	1,118 (+6%)	3mo	$169,000	$151	56
268 S S Anderson Ave	0.34mi	3/1.0 (+1)	1,200 (+13%)	6mo	$160,000	$133	52
306 Whittemore St	0.64mi	3/1.0 (+1)	1,134 (+7%)	2mo	$120,000	$106	52
88 N Astor St	0.46mi	3/1.0 (+1)	1,199 (+13%)	1mo	$108,000	$90	51
685 Northway Dr	0.42mi	3/1.0 (+1)	925 (-13%)	4mo	$138,000	$149	50
24 S Roselawn St	0.66mi	3/1.5 (+1)	1,213 (+14%)	1mo	$90,000	$74	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: 20.7%
• Equity multiple: 1.84×
• Total profit: $18,866
• Equity at exit: $11,913

10-year hold

• IRR: 28.8%
• Equity multiple: 3.56×
• Total profit: $57,366
• Equity at exit: $6,908

Cash invested: $22,372 (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 48342

• Home prices YoY: -33.8%
• Active inventory: 90
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,273 high
• Mortgage (P&I): −$419
• Tax from tax record: −$54 /mo · $644/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $500

Break-even live

Break-even rent $640

Max offer price $79,900

Occupancy floor 56%

Sensitivity live

Price	-10% $545	-5% $522	+0% $500	+5% $477	+10% $454
Rent	-10% $399	-5% $449	+0% $500	+5% $550	+10% $600
Rate	-1.0pp $540	-0.5pp $520	base $500	+0.5pp $479	+1.0pp $458

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
90 Martin Luther King Jr Blvd S Pontiac, MI	2.0	1.0	900	$1,000	$1.11	44d	1	0.20mi
128 S Edith St Pontiac, MI	2.0–3.0	2.0	1155	$1,384	$1.20	18d	1	0.30mi
83 S Edith St Pontiac, MI	2.0	1.0	818	$1,450	$1.77	25d	1	0.31mi
51 S Francis St Unit 4 Pontiac, MI	2.0	1.0	850	$1,000	$1.18	44d	1	0.39mi
38 N Shirley St Pontiac, MI	3.0	1.0	1174	$1,425	$1.21	44d	1	0.67mi
97 S Jessie St Unit 2 Pontiac, MI	2.0	1.0	800	$1,120	$1.40	25d	1	0.68mi
68 N Shirley St Pontiac, MI	3.0	1.0	950	$1,395	$1.47	19d	1	0.70mi
489 Central Ave Pontiac, MI	2.0	1.0	1140	$1,195	$1.05	6d	1	0.86mi
442 Central Ave Unit 1 Pontiac, MI	2.0	1.0	1500	$1,500	$1.00	6d	1	0.91mi
442 Central Ave Pontiac, MI	2.0	1.0	1500	$1,250	$0.83	17d	1	0.91mi
16 Victory Dr Unit 18 Pontiac, MI	2.0	1.0	1114	$1,150	$1.03	25d	1	1.01mi
16 Victory Dr Unit 18 Pontiac, MI	2.0	1.0	1118	$1,150	$1.03	44d	1	1.01mi
2081 Oaknoll St Auburn Hills, MI	2.0	2.0	860	$1,600	$1.86	44d	1	1.02mi
4000 Winston Dr Pontiac, MI	2.0	1.5	952	$1,182	$1.24	0d	1	1.05mi
1173 Featherstone Rd Pontiac, MI	3.0	1.5	970	$1,495	$1.54	25d	1	1.17mi
900 Martin Luther King Jr Blvd S Pontiac, MI	1.0–2.0	1.0	800	$1,065	$1.33	6d	1	1.28mi
188 Vernon Dr Pontiac, MI	3.0	1.0	1100	$1,500	$1.36	25d	1	1.33mi
28 N Saginaw St Pontiac, MI	1.0	1.0	615	$1,600	$2.60	6d	10	1.34mi
49 Oakhill St Pontiac, MI	3.0	1.0	1200	$1,575	$1.31	25d	1	1.35mi
20 Frank St Pontiac, MI	1.0	1.0	995	$800	$0.80	19d	1	1.36mi
35 N Saginaw St Pontiac, MI	1.0	1.0	1000	$1,350	$1.35	44d	1	1.38mi
35 N Saginaw St Unit 2 Pontiac, MI	1.0	1.0	1000	$1,350	$1.35	44d	1	1.38mi
97 Fairgrove St Apt 2 Pontiac, MI	2.0	1.0	800	$1,100	$1.38	6d	1	1.44mi
124 Alice Ave Bloomfield Township, MI	3.0	1.0	1440	$2,000	$1.39	6d	1	1.47mi
672 Linda Vista Dr Pontiac, MI	3.0	1.0	900	$1,500	$1.67	4d	1	1.49mi

Listing history 38 events

1. 2026-06-21
   days on market $79,900 Active 37 DOM
2. 2026-06-18
   days on market $79,900 Active 34 DOM
3. 2026-06-17
   days on market $79,900 Active 33 DOM
4. 2026-06-16
   days on market $79,900 Active 32 DOM
5. 2026-06-15
   days on market $79,900 Active 31 DOM
6. 2026-06-13
   days on market $79,900 Active 29 DOM
7. 2026-06-13
   pricedays on market $79,900 Active 28 DOM
8. 2026-06-09
   days on market $85,000 Active 25 DOM
9. 2026-06-08
   days on market $85,000 Active 24 DOM
10. 2026-06-07
    days on market $85,000 Active 23 DOM
11. 2026-06-04
    days on market $85,000 Active 20 DOM
12. 2026-06-03
    days on market $85,000 Active 19 DOM
13. 2026-06-02
    days on market $85,000 Active 18 DOM
14. 2026-06-01
    days on market $85,000 Active 17 DOM
15. 2026-05-31
    days on market $85,000 Active 16 DOM
16. 2026-05-15
    listed $85,000 Active 644-char remark

    Show marketing remark (644 chars)

    Long-term stability meets long-term upside with this solid investment property, occupied by the same reliable tenant for the past 13 years. The home sits on two included lots, offering rare expansion potential or added land value in a market that continues to grow year after year. Recent capital improvements include a brand-new roof, reducing near-term maintenance costs and strengthening the property's long-term performance. With steady rental income in place and significant appreciation potential in an area seeing ongoing development, this is a turnkey opportunity for investors looking to secure a cash-flowing asset with room to scale.

17. 2026-05-15
    listed $85,000 Active 644-char remark

    Show marketing remark (644 chars)

    Long-term stability meets long-term upside with this solid investment property, occupied by the same reliable tenant for the past 13 years. The home sits on two included lots, offering rare expansion potential or added land value in a market that continues to grow year after year. Recent capital improvements include a brand-new roof, reducing near-term maintenance costs and strengthening the property's long-term performance. With steady rental income in place and significant appreciation potential in an area seeing ongoing development, this is a turnkey opportunity for investors looking to secure a cash-flowing asset with room to scale.

18. 2025-01-28
    soldstatus $63,000
19. 2025-01-15
    soldstatus $63,000 Closed

    Show marketing remark (748 chars)

    Introducing a prime investment opportunity at 148 Russell Street, Pontiac, MI 48342. Originally designed with 2 bedrooms and 1 bathroom, the property has been modified to feature 1 bedroom and 1 bathroom, providing a cozy living environment. The home is tenant-occupied, ensuring immediate rental income for investors. The property includes an additional lot, offering potential for expansion or new residential construction, subject to local zoning regulations. Please note that showings are available only upon acceptance of an offer. This property presents a compelling opportunity for investors seeking a tenant-occupied home with potential for future development. BATVAI No showings will be allowed without an accepted offer and licensed agent

20. 2025-01-15
    soldstatus $63,000 Closed

    Show marketing remark (748 chars)

    Introducing a prime investment opportunity at 148 Russell Street, Pontiac, MI 48342. Originally designed with 2 bedrooms and 1 bathroom, the property has been modified to feature 1 bedroom and 1 bathroom, providing a cozy living environment. The home is tenant-occupied, ensuring immediate rental income for investors. The property includes an additional lot, offering potential for expansion or new residential construction, subject to local zoning regulations. Please note that showings are available only upon acceptance of an offer. This property presents a compelling opportunity for investors seeking a tenant-occupied home with potential for future development. BATVAI No showings will be allowed without an accepted offer and licensed agent

21. 2025-01-10
    status Pending

    Show marketing remark (748 chars)

    Introducing a prime investment opportunity at 148 Russell Street, Pontiac, MI 48342. Originally designed with 2 bedrooms and 1 bathroom, the property has been modified to feature 1 bedroom and 1 bathroom, providing a cozy living environment. The home is tenant-occupied, ensuring immediate rental income for investors. The property includes an additional lot, offering potential for expansion or new residential construction, subject to local zoning regulations. Please note that showings are available only upon acceptance of an offer. This property presents a compelling opportunity for investors seeking a tenant-occupied home with potential for future development. BATVAI No showings will be allowed without an accepted offer and licensed agent

22. 2025-01-10
    status Pending

    Show marketing remark (748 chars)

    Introducing a prime investment opportunity at 148 Russell Street, Pontiac, MI 48342. Originally designed with 2 bedrooms and 1 bathroom, the property has been modified to feature 1 bedroom and 1 bathroom, providing a cozy living environment. The home is tenant-occupied, ensuring immediate rental income for investors. The property includes an additional lot, offering potential for expansion or new residential construction, subject to local zoning regulations. Please note that showings are available only upon acceptance of an offer. This property presents a compelling opportunity for investors seeking a tenant-occupied home with potential for future development. BATVAI No showings will be allowed without an accepted offer and licensed agent

23. 2024-12-26
    listed $55,000 Active

    Show marketing remark (748 chars)

    Introducing a prime investment opportunity at 148 Russell Street, Pontiac, MI 48342. Originally designed with 2 bedrooms and 1 bathroom, the property has been modified to feature 1 bedroom and 1 bathroom, providing a cozy living environment. The home is tenant-occupied, ensuring immediate rental income for investors. The property includes an additional lot, offering potential for expansion or new residential construction, subject to local zoning regulations. Please note that showings are available only upon acceptance of an offer. This property presents a compelling opportunity for investors seeking a tenant-occupied home with potential for future development. BATVAI No showings will be allowed without an accepted offer and licensed agent

24. 2024-12-24
    listed $55,000 Active
25. 2024-12-23
    historical
26. 2024-12-23
    historical
27. 2024-12-05
    listed $84,600 Active
28. 2024-12-03
    listed $84,600 Active
29. 2024-11-30
    historical
30. 2024-11-29
    historical
31. 2024-11-25
    price $90,000
32. 2024-11-25
    price $90,000
33. 2024-11-11
    price $95,000
34. 2024-11-11
    price $95,000
35. 2024-10-26
    listed $105,000 Active
36. 2024-10-26
    listed $105,000 Active
37. 2005-02-09
    soldstatus $30,000
38. 2004-10-05
    listed $39,900

ⓘ 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: $644 · $54/mo
• Projected year-2 tax: $937 · $78/mo
• Expected delta: +$293/yr (+$24/mo · 45.6%)

ⓘ 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 ≥97°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: $15,274
• − Mortgage interest: −$4,476
• − Property taxes: −$644
• − Insurance: −$400
• − Repairs & maintenance: −$1,222
• − Management: −$1,222
• − Depreciation: −$2,324
• Taxable income: $4,987
• Est. tax owed @ 24.0%: −$1,197
• After-tax cash flow: $4,799/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: 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
• City population: 44,593
• Population (ZIP): 17,227

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 0.62)
• Race & ethnicity: Black 57% Hispanic / Latino 19% White 13% Two or more races 13% Asian 4%
• Hispanic origin (detail): Mexican 11% Puerto Rican 2%
• Common ancestry: Romanian 1% Lithuanian 1% Italian 1%
• Foreign-born: 10% · Canada, Vietnam
• Languages at home: 79% English-only · Spanish 15% Other Asian/Pacific 4% Other Indo-European 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: ▼ -109.18%
• Current HPI: 214.3258
• 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

+100.3% since first listed

25 events — show timeline

• 2026-06-12 Price Changed $79,900 MiRealSource-MiMLS
• 2026-06-11 Price Changed $79,900 REALCOMP
• 2026-05-15 Listed $85,000 REALCOMP
• 2026-05-15 Listed $85,000 MiRealSource-MiMLS
• 2025-01-28 Sold (Public Records) $63,000 Public Records
• 2025-01-15 Sold (MLS) $63,000 MiRealSource-MiMLS
• 2025-01-15 Sold (MLS) $63,000 REALCOMP
• 2025-01-10 Pending — MiRealSource-MiMLS
• 2025-01-10 Pending — REALCOMP
• 2024-12-26 Listed $55,000 REALCOMP
• 2024-12-24 Listed $55,000 MiRealSource-MiMLS
• 2024-12-23 Listing Removed — REALCOMP
• 2024-12-23 Listing Removed — MiRealSource-MiMLS
• 2024-12-05 Listed $84,600 REALCOMP
• 2024-12-03 Listed $84,600 MiRealSource-MiMLS
• 2024-11-30 Listing Removed — MiRealSource-MiMLS
• 2024-11-29 Listing Removed — REALCOMP
• 2024-11-25 Price Changed $90,000 MiRealSource-MiMLS
• 2024-11-25 Price Changed $90,000 REALCOMP
• 2024-11-11 Price Changed $95,000 MiRealSource-MiMLS
• 2024-11-11 Price Changed $95,000 REALCOMP
• 2024-10-26 Listed $105,000 MiRealSource-MiMLS
• 2024-10-26 Listed $105,000 REALCOMP
• 2005-02-09 Sold (MLS) $30,000 REALCOMP
• 2004-10-05 Listed $39,900 REALCOMP

Property tax history

+1.7%/yr

Latest (2025): $644 · +2.8% YoY. Source: county tax records.