23 Highland Terrace Ter · White Lake, MI 48386

$74,900

2 bd · 2.0 ba · 1,130 sqft · Manufactured · 4 Days on market

Built 2000 Good condition 4,800 sqft lot

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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
• Schools +4.4/10.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully maintained 2-bedroom, 2-bath home located in the highly desirable Cranberry Lake 55+ Community. Offering approximately 1,130 square feet of comfortable living space, this home combines thoughtful updates, exceptional storage, and inviting indoor and outdoor living areas. Step inside to find a spacious and welcoming layout featuring a bright living room, attractive flooring, and neutral finishes throughout. The updated kitchen offers an abundance of dark cabinetry, ample counter space, stainless steel appliances, and a dedicated dining area, creating a functional space for both everyday living and entertaining. The generous primary suite provides a comfortable retreat and features a beautifully updated private bath with dual vanities and a walk-in shower. A second bedroom and full bath offer flexibility for guests, hobbies, or a home office. Both bathrooms have been tastefully updated, adding to the home's move-in-ready appeal. One of the standout features of this property is the expansive covered and screened porch. With plenty of room for seating and entertaining, this space serves as an extension of the home and provides the perfect place to enjoy morning coffee, summer evenings, or gatherings with family and friends while enjoying the outdoors in comfort. Outside, you'll find two large storage sheds, offering excellent space for tools, lawn equipment, seasonal items, and additional storage needs. Power in one shed. The home also features a whole-house generator, providing valuable backup power and added peace of mind during unexpected outages. This home offers the perfect combination of comfort and value within one of the area's most sought-after 55+ communities. Residents of Cranberry Lake enjoy a welcoming atmosphere, community amenities, and an active lifestyle with convenient access to shopping, dining, and everyday necessities. Buyers must receive community approval. Schedule your private showing today.

Key facts

• 4,800 sq ft lot
• Built 2000
• Listed 4 days

Tags

• CRANBERRY LAKE COMMUNITY
• EXPANSIVE COVERED PORCH
• TWO LARGE STORAGE SHEDS
• WHOLE-HOUSE GENERATOR

Property features AI

Exterior

• Utilities: Public water; Natural gas
• Home design: Manufactured home in an MH park; One-story
• Construction: Built in 2000; Piers foundation
• Exterior features: Vinyl siding; All-sports lake frontage on Cranberry Lake; Paved street

Interior

• Kitchen: Entry-level kitchen (approx. 14 x 6); Includes microwave, range/oven, refrigerator, dishwasher
• Bedrooms: Bedroom 1 on entry level (6 x 14); Bedroom 2 on entry level (9 x 10)
• Bathrooms: 2 full bathrooms; Bathroom 1 on entry level (approx. 7 x 5); Bathroom 2 on entry level (approx. 6 x 14)
• Heating & cooling: Forced air heating; Natural gas fuel
• Interior features: 7 total rooms; Microwave; Range/Oven; Refrigerator; Dishwasher
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $75k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $886 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• 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.
• Market conditions: 145 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $518 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 $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $74,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 2.37% ✓
• Cap rate: 20.49%
• Cash-on-cash: 50.71%
• DSCR: 3.26
• GRM: 3.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 48.5%
• Equity multiple: 3.11×
• Total profit: $44,337
• Equity at exit: $11,168

10-year hold

• IRR: 54.1%
• Equity multiple: 6.31×
• Total profit: $111,401
• Equity at exit: $6,476

Cash invested: $20,972 (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 48386

• Active inventory: 145
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,777 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,124/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $886

Break-even live

Break-even rent $655

Max offer price $74,900

Occupancy floor 45%

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1415 Fisk Rd White Lake, MI	3.0	2.0	1352	$1,649	$1.22	1d	1	0.12mi
9620 Highland Rd White Lake, MI	2.0–3.0	2.0	1320	$1,249	$0.95	1d	1	0.25mi

Listing history 5 events

1. 2026-06-18
   days on market $74,900 Active 4 DOM
2. 2026-06-17
   days on market $74,900 Active 3 DOM
3. 2026-06-16
   listing id $74,900 Active 2 DOM
4. 2026-06-15
   remarks 699-char remark
5. 2026-06-15
   listed $74,900 Active 2 DOM

ⓘ 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: $21,325
• − Mortgage interest: −$4,196
• − Property taxes: −$1,124
• − Insurance: −$374
• − Repairs & maintenance: −$1,706
• − Management: −$1,706
• − Depreciation: −$2,179
• Taxable income: $10,040
• Est. tax owed @ 24.0%: −$2,410
• After-tax cash flow: $8,226/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 · 12 photos

Good 75/100 Cosmetic rehab

This 2-bedroom, 2-bath home in the Cranberry Lake 55+ Community is in good condition with recent updates and a well-maintained exterior. It offers a good return on investment with minor cosmetic improvements that could further increase its value.

Value-add opportunities

• Resale Paint exterior siding — Enhances curb appeal and value
• Rental Replace ceiling fans — Improves comfort and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Enhances curb appeal and value ↑
• Rental Replace ceiling fans — Improves comfort and energy efficiency ↑

ⓘ 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: Huron Valley Schools
• NCES district ID: 2618990
• Math proficiency: 42% ▼ -8.00%
• Reading proficiency: 56% ▼ -3.00%
• Median HH income: $76,011
• Composite: 44.39/100
• National rank: #2815
• State rank: #87 of 540 in MI

Livability — White Lake

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

Census & demographics

• County: Oakland County · 1,009,092 people
• City population: 17,856
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 17,856
• Household income: $89,702
• Rent vs Own: 16.7% rent · 83.3% own
• Severe rent burden: 664.0

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 (90%)
• Race & ethnicity: White 90% Two or more races 6% Hispanic / Latino 4% Black 1%
• Common ancestry: Romanian 12% Lithuanian 6% Slovak 4%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · Russian/Polish/Slavic 2% Spanish 1% Arabic 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: ▼ -269.78%
• Current HPI: 207.917
• 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

+0.0% since first listed

2 events — show timeline

• 2026-06-13 Listed $74,900 REALCOMP
• 2026-06-13 Listed $74,900 MiRealSource-MiMLS