192 Gage St · Pontiac, MI 48342

$115,000

3 bd · 1.0 ba · 961 sqft · SingleFamily public records · 48 Days on market

Built 1960 7,841 sqft lot Est $130k · 11% under

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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 +24.1/30.0
• ARV discount +12.6/15.0
• DSCR +7.8/10.0
• 1% rule +6.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well maintained 3bedroom 1.5 bath for sale. Home has a large fenced in backyard with an enclosed sunroom. This home is conveniently located near major freeways, shopping and restaurants. Property is being sold as is. Home just needs a little loving care and it'll be all set!

Key facts

• 7,841 sq ft lot
• Built 1960
• Listed 48 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $228 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $112k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 6.7% in Pontiac — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $795 of loan paydown is wiped out by about $3k 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.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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 $111,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 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 1960 — 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: 1.16% ✓
• Cap rate: 8.68%
• Cash-on-cash: 8.51%
• DSCR: 1.38
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $129,735
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
223 Victory Dr	0.13mi	3/1.0	930 (-3%)	2mo	$95,000	$102	87
141 Oliver St	0.37mi	3/1.0	964 (+0%)	6mo	$130,000	$135	77
672 Linda Vista Dr	0.23mi	3/1.0	900 (-6%)	4mo	$113,000	$126	76
129 Oliver St	0.37mi	3/1.0	920 (-4%)	2mo	$145,000	$158	74
674 Parkwood Ave	0.54mi	3/1.0	961 (0%)	3mo	$100,000	$104	72
618 Linda Vista Dr	0.21mi	3/1.0	1,066 (+11%)	1mo	$135,000	$127	71
710 Melrose St	0.75mi	3/1.0	952 (-1%)	3mo	$142,000	$149	61
428 Jordon Rd	0.58mi	3/1.0	887 (-8%)	7mo	$153,000	$172	54
414 Kenilworth Ave	0.68mi	3/1.0	884 (-8%)	4mo	$155,000	$175	51
92 N Ardmore St	0.71mi	3/1.0	1,040 (+8%)	4mo	$169,000	$163	50
184 N Astor St	0.75mi	3/1.0	1,046 (+9%)	1mo	$95,100	$91	50
509 Cameron Ave	0.72mi	3/1.0	860 (-10%)	6mo	$42,000	$49	44

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: -3.4%
• Equity multiple: 0.87×
• Total profit: $-4,056
• Equity at exit: $17,147

10-year hold

• IRR: 6.4%
• Equity multiple: 1.48×
• Total profit: $15,349
• Equity at exit: $9,943

Cash invested: $32,200 (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 48342

• Home prices YoY: -33.8%
• Active inventory: 90
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,334 high
• Mortgage (P&I): −$603
• Tax from tax record: −$175 /mo · $2,095/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $228

Break-even live

Break-even rent $1,045

Max offer price $115,000

Occupancy floor 78%

Sensitivity live

Price	-10% $293	-5% $261	+0% $228	+5% $196	+10% $163
Rent	-10% $123	-5% $176	+0% $228	+5% $281	+10% $334
Rate	-1.0pp $286	-0.5pp $258	base $228	+0.5pp $198	+1.0pp $168

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
188 Vernon Dr Pontiac, MI	3.0	1.0	1100	$1,500	$1.36	25d	1	0.05mi
672 Linda Vista Dr Pontiac, MI	3.0	1.0	900	$1,500	$1.67	4d	1	0.22mi
16 Victory Dr Unit 18 Pontiac, MI	2.0	1.0	1118	$1,150	$1.03	44d	1	0.29mi
16 Victory Dr Unit 18 Pontiac, MI	2.0	1.0	1114	$1,150	$1.03	25d	1	0.29mi
957 Perry St Pontiac, MI	1.0–3.0	1.0	835	$1,099	$1.32	44d	1	0.49mi
750 Scottwood St Pontiac, MI	3.0	1.0	920	$1,395	$1.52	13d	1	0.65mi
68 N Shirley St Pontiac, MI	3.0	1.0	950	$1,395	$1.47	19d	1	0.77mi
65 Whitfield St Pontiac, MI	3.0	1.0	924	$1,175	$1.27	44d	1	0.82mi
611 E Madison Ave Pontiac, MI	3.0	1.5	950	$1,395	$1.47	44d	1	0.86mi
97 Fairgrove St Apt 2 Pontiac, MI	2.0	1.0	800	$1,100	$1.38	6d	1	0.88mi
4000 Winston Dr Pontiac, MI	2.0	1.5	952	$1,182	$1.24	0d	1	0.94mi
51 S Francis St Unit 4 Pontiac, MI	2.0	1.0	850	$1,000	$1.18	44d	1	1.01mi
1173 Featherstone Rd Pontiac, MI	3.0	1.5	970	$1,495	$1.54	25d	1	1.03mi
83 S Edith St Pontiac, MI	2.0	1.0	818	$1,450	$1.77	25d	1	1.07mi
97 S Jessie St Unit 2 Pontiac, MI	2.0	1.0	800	$1,120	$1.40	25d	1	1.10mi
90 Martin Luther King Jr Blvd S Pontiac, MI	2.0	1.0	900	$1,000	$1.11	44d	1	1.11mi
695 1st Ave Pontiac, MI	3.0	1.0	986	$1,295	$1.31	44d	1	1.12mi
128 S Edith St Pontiac, MI	2.0–3.0	2.0	1155	$1,700	$1.47	18d	1	1.19mi
85 E Beverly Ave Pontiac, MI	3.0	1.0	1000	$1,250	$1.25	6d	1	1.44mi

Listing history 11 events

1. 2024-12-17
   status Pending
2. 2023-07-28
   status Pending 275-char remark

   Show marketing remark (275 chars)

   Well maintained 3bedroom 1.5 bath for sale. Home has a large fenced in backyard with an enclosed sunroom. This home is conveniently located near major freeways, shopping and restaurants. Property is being sold as is. Home just needs a little loving care and it'll be all set!

3. 2023-07-28
   status Pending

   Show marketing remark (275 chars)

   Well maintained 3bedroom 1.5 bath for sale. Home has a large fenced in backyard with an enclosed sunroom. This home is conveniently located near major freeways, shopping and restaurants. Property is being sold as is. Home just needs a little loving care and it'll be all set!

4. 2023-07-21
   historical Accepting Backup Offers 275-char remark

   Show marketing remark (275 chars)

   Well maintained 3bedroom 1.5 bath for sale. Home has a large fenced in backyard with an enclosed sunroom. This home is conveniently located near major freeways, shopping and restaurants. Property is being sold as is. Home just needs a little loving care and it'll be all set!

5. 2023-07-21
   historical Accepting Backup Offers

   Show marketing remark (275 chars)

   Well maintained 3bedroom 1.5 bath for sale. Home has a large fenced in backyard with an enclosed sunroom. This home is conveniently located near major freeways, shopping and restaurants. Property is being sold as is. Home just needs a little loving care and it'll be all set!

6. 2023-06-26
   status Active 275-char remark

   Show marketing remark (275 chars)

   Well maintained 3bedroom 1.5 bath for sale. Home has a large fenced in backyard with an enclosed sunroom. This home is conveniently located near major freeways, shopping and restaurants. Property is being sold as is. Home just needs a little loving care and it'll be all set!

7. 2023-06-26
   status Active

   Show marketing remark (275 chars)

   Well maintained 3bedroom 1.5 bath for sale. Home has a large fenced in backyard with an enclosed sunroom. This home is conveniently located near major freeways, shopping and restaurants. Property is being sold as is. Home just needs a little loving care and it'll be all set!

8. 2023-06-15
   historical Accepting Backup Offers 275-char remark

   Show marketing remark (275 chars)

   Well maintained 3bedroom 1.5 bath for sale. Home has a large fenced in backyard with an enclosed sunroom. This home is conveniently located near major freeways, shopping and restaurants. Property is being sold as is. Home just needs a little loving care and it'll be all set!

9. 2023-06-15
   historical Accepting Backup Offers

   Show marketing remark (275 chars)

   Well maintained 3bedroom 1.5 bath for sale. Home has a large fenced in backyard with an enclosed sunroom. This home is conveniently located near major freeways, shopping and restaurants. Property is being sold as is. Home just needs a little loving care and it'll be all set!

10. 2023-06-10
    listed $115,000 Active

    Show marketing remark (275 chars)

    Well maintained 3bedroom 1.5 bath for sale. Home has a large fenced in backyard with an enclosed sunroom. This home is conveniently located near major freeways, shopping and restaurants. Property is being sold as is. Home just needs a little loving care and it'll be all set!

11. 2023-06-10
    listed $115,000 Active 275-char remark

    Show marketing remark (275 chars)

    Well maintained 3bedroom 1.5 bath for sale. Home has a large fenced in backyard with an enclosed sunroom. This home is conveniently located near major freeways, shopping and restaurants. Property is being sold as is. Home just needs a little loving care and it'll be all set!

ⓘ 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: $2,095 · $175/mo
• Projected year-2 tax: $2,095 · $175/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥96°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: $16,007
• − Mortgage interest: −$6,442
• − Property taxes: −$2,095
• − Insurance: −$575
• − Repairs & maintenance: −$1,281
• − Management: −$1,281
• − Depreciation: −$3,345
• Taxable income: $989
• Est. tax owed @ 24.0%: −$237
• After-tax cash flow: $2,502/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

+0.0% since first listed

11 events — show timeline

• 2024-12-17 Pending — REALCOMP
• 2023-07-28 Pending — MiRealSource-MiMLS
• 2023-07-28 Pending — REALCOMP
• 2023-07-21 Contingent — MiRealSource-MiMLS
• 2023-07-21 Contingent — REALCOMP
• 2023-06-26 Relisted — MiRealSource-MiMLS
• 2023-06-26 Relisted — REALCOMP
• 2023-06-15 Contingent — MiRealSource-MiMLS
• 2023-06-15 Contingent — REALCOMP
• 2023-06-10 Listed $115,000 MiRealSource-MiMLS
• 2023-06-10 Listed $115,000 REALCOMP

Property tax history

+9.4%/yr

Latest (2025): $2,095 · +39.0% YoY. Source: county tax records.