2098 Bent Trail Ct · Pittsfield, MI 48108

$365,000

2 bd · 2.0 ba · 1,408 sqft · Condo public records · 47 Days on market

Built 1989 $259/sqft · 16% below area Est $435k · 16% 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 +14.8/15.0
• Schools +6.5/10.0
• Rent growth +3.9/5.0
• Cash flow +3.7/30.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.6/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 2-bedroom, 2-bath condo offering 1,408 sq. ft. of comfortable living space. Features include new carpeting in bedrooms and den, new stainless steel appliances, an updated HVAC system (2024), and freshly painted throughout. Enjoy a brand-new balcony coming summer 2026, garage, and access to community pool and basketball courts. Conveniently located near parks, shopping, restaurants, and bus routes -- all within walking distance. Move-in ready with great amenities and location! Some photos have been virtually rendered.

Key facts

• Private deck
• Clubhouse
• Community amenities

Tags

• MOVE IN READY
• NEW STAINLESS STEEL APPLIANCES
• PRIVATE DECK
• COMMUNITY AMENITIES
• POOL
• CLUBHOUSE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $365k.

Deal economics

• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• To cash-flow at today's rent, offer at most $261k (28.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $242k (33.8% below list).
• Recommended offer: $242k (33.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Ann Arbor Public Schools (urban): math 71% / reading 81% proficiency, ranked #6 of 540 in MI (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Ann Arbor Open At Mack School (math 74% / reading 84%, grade A, #21 of 1,397 statewide, top 2%, 517 students, 11% FRL); Tappan Middle School (math 67% / reading 82%, grade A, #15 of 493 statewide, top 3%, 680 students, 28% FRL); Pioneer High School (math 74% / reading 89%, grade A, #6 of 713 statewide, top 1%, 1,700 students, 23% FRL) — zoned schools at 21% FRL track the district average.
• Market conditions: Rents rising fast (+5.7%/yr); 148 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 996 units permitted in Washtenaw County in 2024 (492 in 5+ unit buildings).
• This rent runs 32% of the median local income ($89k/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 $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Washtenaw County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($354k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 8y 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.

Recommended offer $241,785 (33.8% 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 47 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.66% ✗
• Cap rate: 2.80%
• Cash-on-cash: -12.48%
• DSCR: 0.44
• GRM: 12.6

CMA / ARV

• ARV (median comp): $435,466
• List price: $365,000
• Delta: -19.65%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.72% rent growth · sell at horizon

5-year hold

• IRR: -35.6%
• Equity multiple: -0.17×
• Total profit: $-119,727
• Equity at exit: $54,423

10-year hold

• IRR: -30.7%
• Equity multiple: -0.57×
• Total profit: $-160,655
• Equity at exit: $31,559

Cash invested: $102,200 (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 48108

• Rents YoY: 5.7%
• Active inventory: 148
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $2,418 high
• Mortgage (P&I): −$1,914
• Tax from tax record: −$432 /mo · $5,181/yr
• Insurance: −$152
• HOA est. from 1 same-building comp: −$475
• Vacancy / Maint / Mgmt: −$508
• Net cashflow: $-1,063

Break-even live

Break-even rent $3,763

Max offer price $177,249

Occupancy floor —

Sensitivity live

Price	-10% $-856	-5% $-960	+0% $-1,063	+5% $-1,166	+10% $-1,269
Rent	-10% $-1,254	-5% $-1,158	+0% $-1,063	+5% $-967	+10% $-872
Rate	-1.0pp $-879	-0.5pp $-970	base $-1,063	+0.5pp $-1,157	+1.0pp $-1,254

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: $91,250
• Closing costs: $10,950
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2074 Bent Trail Ct Unit 1 Ann Arbor, MI	2.0	2.0	1200	$2,400	$2.00	45d	1	0.01mi
3300 Ann Arbor Saline Rd Ann Arbor, MI	1.0–3.0	1.0–2.0	1156	$2,674	$2.31	15d	5	0.09mi
3035 Hydrangea Ln Ann Arbor, MI	2.0	2.5	1618	$3,100	$1.92	15d	1	0.29mi
1526 Oakfield Dr Ann Arbor, MI	2.0	2.0	1101	$1,850	$1.68	23d	1	0.50mi
3227 Lohr Rd Ann Arbor, MI	2.0	2.5	1600	$2,900	$1.81	45d	1	0.58mi
650 Waymarket Dr Ann Arbor, MI	1.0–3.0	1.0–2.0	1068	$2,220	$2.08	15d	26	0.75mi
1550 Brookfield Dr Ann Arbor, MI	1.0–2.0	1.0–2.0	975	$1,909	$1.96	15d	6	0.75mi
2555 Oak Valley Dr Ann Arbor, MI	1.0–2.0	1.5–2.0	1232	$2,810	$2.28	15d	1	0.78mi
1315 Oak Valley Dr Ann Arbor, MI	1.0–2.0	1.0–2.0	1032	$2,160	$2.09	15d	10	0.80mi
3000 Signature Blvd Ann Arbor, MI	1.0–2.0	1.5–2.0	1020	$2,050	$2.01	15d	6	0.82mi
3000 Signature Blvd Ann Arbor, MI	1.0–2.0	1.5–2.0	1020	$2,239	$2.20	45d	1	0.82mi
243 Fieldcrest St Ann Arbor, MI	3.0	4.0	1747	$2,995	$1.71	23d	1	1.21mi
121 Fieldcrest St #301 Ann Arbor, MI	1.0	1.0	972	$1,770	$1.82	45d	1	1.25mi
101 Fieldcrest St Ann Arbor, MI	2.0	1.0	950	$1,800	$1.89	45d	1	1.33mi
111 Fieldcrest St Unit 205 Ann Arbor, MI	2.0	1.0	932	$1,695	$1.82	45d	1	1.34mi
275 Harbor Way Ann Arbor, MI	1.0–2.0	1.0–2.0	1033	$2,689	$2.60	15d	15	1.37mi
101 Lake Village Dr Ann Arbor, MI	1.0–3.0	1.0–3.0	1300	$2,332	$1.79	15d	20	1.41mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-22
   days on market $365,000 Active 47 DOM
2. 2026-06-18
   days on market $365,000 Active 44 DOM
3. 2026-06-17
   days on market $365,000 Active 43 DOM
4. 2026-06-16
   days on market $365,000 Active 42 DOM
5. 2026-06-15
   days on market $365,000 Active 41 DOM
6. 2026-06-14
   days on market $365,000 Active 39 DOM
7. 2026-06-10
   days on market $365,000 Active 36 DOM
8. 2026-06-09
   days on market $365,000 Active 35 DOM
9. 2026-06-08
   remarks 676-char remark
10. 2026-06-08
    pricestatusdays on marketlisting id $365,000 Active 34 DOM
11. 2026-05-05
    listed $365,000 Active 637-char remark

    Show marketing remark (531 chars)

    Spacious 2-bedroom, 2-bath condo offering 1,408 sq. ft. of comfortable living space. Features include new carpeting in bedrooms and den, new stainless steel appliances, an updated HVAC system (2024), and freshly painted throughout. Enjoy a brand-new balcony coming summer 2026, garage, and access to community pool and basketball courts. Conveniently located near parks, shopping, restaurants, and bus routes -- all within walking distance. Move-in ready with great amenities and location! Some photos have been virtually rendered.

12. 2026-05-05
    listed $365,000 Active 638-char remark

    Show marketing remark (531 chars)

    Spacious 2-bedroom, 2-bath condo offering 1,408 sq. ft. of comfortable living space. Features include new carpeting in bedrooms and den, new stainless steel appliances, an updated HVAC system (2024), and freshly painted throughout. Enjoy a brand-new balcony coming summer 2026, garage, and access to community pool and basketball courts. Conveniently located near parks, shopping, restaurants, and bus routes -- all within walking distance. Move-in ready with great amenities and location! Some photos have been virtually rendered.

13. 2026-05-05
    listed $365,000 Active

    Show marketing remark (531 chars)

    Spacious 2-bedroom, 2-bath condo offering 1,408 sq. ft. of comfortable living space. Features include new carpeting in bedrooms and den, new stainless steel appliances, an updated HVAC system (2024), and freshly painted throughout. Enjoy a brand-new balcony coming summer 2026, garage, and access to community pool and basketball courts. Conveniently located near parks, shopping, restaurants, and bus routes -- all within walking distance. Move-in ready with great amenities and location! Some photos have been virtually rendered.

14. 2026-05-01
    listed $365,000 Active
15. 2018-07-02
    soldstatus $225,000
16. 2018-06-15
    soldstatus $225,000 Sold
17. 2018-06-15
    soldstatus $225,000 Closed
18. 2018-05-23
    status Pending
19. 2018-05-23
    status Pending
20. 2018-05-17
    listed $200,000 Active
21. 2018-05-17
    listed $200,000 Active
22. 2004-03-24
    soldstatus $182,500
23. 1996-12-30
    soldstatus $120,500
24. 1989-10-06
    soldstatus $72,000

ⓘ 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: $5,181 · $432/mo
• Projected year-2 tax: $5,401 · $450/mo
• Expected delta: +$220/yr (+$18/mo · 4.2%)

ⓘ 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 3/10 Moderate 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,014
• − Mortgage interest: −$20,446
• − Property taxes: −$5,181
• − Insurance: −$1,825
• − Repairs & maintenance: −$2,321
• − Management: −$2,321
• − HOA: −$5,700
• − Depreciation: −$10,618
• Taxable loss: −$19,398
• Est. tax savings @ 24.0%: +$4,655
• After-tax cash flow: $-8,098/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: Ann Arbor Public Schools
• NCES district ID: 2602820
• Math proficiency: 71% ▲ 5.00%
• Reading proficiency: 81% ▲ 11.00%
• Median HH income: $60,768
• Composite: 65.34/100
• National rank: #487
• State rank: #6 of 540 in MI

Livability — Pittsfield

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Washtenaw County · 306,860 people
• Metro: Ann Arbor, MI
• Population (ZIP): 27,666
• Household income: $89,355
• Rent vs Own: 44.6% rent · 55.4% own
• Severe rent burden: 1390.0

Population outlook (Washtenaw County) Hauer SSP2

• Today (2025): 402,878 people
• By 2030: 424,104 · +5.3%
• By 2040: 464,633 · +15.3%
• By 2050: 504,728 · +25.3%
• By 2075: 614,463 · +52.5%
• By 2100: 676,181 · +67.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 58% Black 16% Asian 14% Two or more races 8% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 5% Italian 2% Slovak 2%
• Foreign-born: 23% · China, Canada, South Korea
• Languages at home: 72% English-only · Arabic 5% Other Indo-European 5% Chinese 5%

Political lean MEDSL · Washtenaw

• 2024 margin: Solid D (+44.4) · D 71.0% · R 26.6% · Other 2.4%
• 2008→2024 swing: +3.5pp toward D · 2008: 41.0pp · 2024: 44.4pp
• All cycles: 2024: D+44.4 2020: D+46.6 2016: D+41.5 2012: D+36.0 2008: D+41.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -221.96%
• Current HPI: 216.8067
• Rent YoY: ▲ 5.72%
• Metro: Ann Arbor, 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

+386.0% since first listed

25 events — show timeline

• 2026-06-07 Sold (MLS) $349,900 REALCOMP
• 2026-06-07 Sold (MLS) $349,900 SW Michigan MLS
• 2026-06-07 Sold (MLS) $349,900 MiRealSource-MiMLS
• 2026-06-02 Pending — REALCOMP
• 2026-05-26 Pending — REALCOMP
• 2026-05-26 Pending — MiRealSource-MiMLS
• 2026-05-26 Pending — SW Michigan MLS
• 2026-05-26 Listing Removed — REALCOMP
• 2026-05-19 Price Changed $349,900 MiRealSource-MiMLS
• 2026-05-19 Price Changed $349,900 REALCOMP
• 2026-05-19 Price Changed $349,900 SW Michigan MLS
• 2026-05-05 Listed $365,000 REALCOMP
• 2026-05-05 Listed $365,000 SW Michigan MLS
• 2026-05-05 Listed $365,000 MiRealSource-MiMLS
• 2026-05-01 Listed $365,000 Fizber.com
• 2018-07-02 Sold (Public Records) $225,000 Public Records
• 2018-06-15 Sold (MLS) $225,000 MiRealSource-MiMLS
• 2018-06-15 Sold (MLS) $225,000 REALCOMP
• 2018-05-23 Pending — MiRealSource-MiMLS
• 2018-05-23 Pending — REALCOMP
• 2018-05-17 Listed $200,000 MiRealSource-MiMLS
• 2018-05-17 Listed $200,000 REALCOMP
• 2004-03-24 Sold (Public Records) $182,500 Public Records
• 1996-12-30 Sold (Public Records) $120,500 Public Records
• 1989-10-06 Sold (Public Records) $72,000 Public Records

Property tax history

+6.2%/yr

Latest (2025): $5,181 · +2.4% YoY. Source: county tax records.