1129 Marquette Ct Ct · Rochester Hills, MI 48307

$140,000

2 bd · 1.5 ba · 1,008 sqft · Condo · 13 Days on market

Built 1973 $139/sqft · 8% above area Est $130k · 8% over $576/mo HOA · 30% of rent

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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).

• Cash flow +11.5/30.0
• 1% rule +8.5/10.0
• Schools +5.9/10.0
• ARV discount +3.9/15.0
• Livability +3.9/5.0
• DSCR +3.4/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This is a CO-OP, cash only, no mortgage! Welcome to this spacious and updated townhouse! Updates include newer roof, vinyl siding, windows, furnace, central air, hot water tank and a newer kitchen! The basement is a blank canvas, perfect for finishing or storage and the private fenced in backyard is great if you have a small pet! The community club house, tennis courts, playground and in ground community pool are awesome for families! Your association fees cover all your mechanicals, property taxes, water/sewer, lawn, snow, and exterior maintenance! Check this one out today, before it's gone!

Key facts

• Community club house
• Newer kitchen
• Newer roof

Tags

• NEWER ROOF
• VINYL SIDING
• NEWER KITCHEN
• PRIVATE FENCED IN BACKYARD
• COMMUNITY CLUB HOUSE
• TENNIS COURTS

Property features AI

Finance

• HOA & community: Homeowners association with monthly fee of $576; HOA covers grounds and structure maintenance, sewer, snow removal, trash, and water; Community amenities include a pool

Exterior

• Parking: No garage; assigned parking
• Utilities: Public water; Public sewer
• Home design: Residential stock cooperative; Two levels; Ground-level entry
• Construction: Brick and vinyl siding; Above-grade finished area approximately 1,008; Built with traditional foundation
• Exterior features: Fenced; Paved road access; Community pool

Interior

• Kitchen: Includes dishwasher, microwave, electric range, refrigerator
• Bedrooms: 2 total rooms
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Dishwasher; Dryer; Free-standing electric range; Free-standing refrigerator; Microwave; Washer; Full unfinished basement
• Laundry & utility: Washer and dryer included; Forced air heating (natural gas)

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $140k.

Deal economics

• At list price, monthly cash flow is $-46 ($-548/yr) — negative.
• To cash-flow at today's rent, offer at most $133k (4.7% below list).
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $133k (4.7% below list) — sets the bar for cash-flow.
• Cap rate 5.9% vs local median 2.8% in Rochester Hills — 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 77/100 on livability (#127 in MI, #3,163 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Rochester Community School District (suburban): math 60% / reading 69% proficiency, ranked #21 of 540 in MI (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Hamlin Elementary School (math 52% / reading 57%, grade C, #276 of 1,397 statewide, top 22%, 449 students, 18% FRL); Rochester High School (math 54% / reading 73%, grade B-, #55 of 713 statewide, top 8%, 1,690 students, 23% FRL).
• Market conditions: Rents rising (+1.8%/yr); 216 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $968 of loan paydown is wiped out by about $4k 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 18y 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 $100k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent.

Recommended offer $133,387 (4.7% 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. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.35% ✓
• Cap rate: 5.90%
• Cash-on-cash: -1.40%
• DSCR: 0.94
• GRM: 6.2

CMA / ARV

• ARV (median comp): $129,503
• List price: $140,000
• Delta: 9.65%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.78% rent growth · sell at horizon

5-year hold

• IRR: -20.5%
• Equity multiple: 0.30×
• Total profit: $-27,514
• Equity at exit: $20,874

10-year hold

• IRR: -17.9%
• Equity multiple: 0.10×
• Total profit: $-35,359
• Equity at exit: $12,105

Cash invested: $39,200 (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 48307

• Rents YoY: 1.8%
• Active inventory: 216
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,896 high
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,100/yr
• Insurance: −$58
• HOA: −$576
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $-46

Break-even live

Break-even rent $1,954

Max offer price $133,387

Occupancy floor 97%

Sensitivity live

Price	-10% $51	-5% $3	+0% $-46	+5% $-94	+10% $-142
Rent	-10% $-195	-5% $-121	+0% $-46	+5% $29	+10% $104
Rate	-1.0pp $25	-0.5pp $-10	base $-46	+0.5pp $-82	+1.0pp $-119

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1560 Meadow Side Dr Rochester Hills, MI	2.0	2.0	1078	$1,900	$1.76	1d	1	0.17mi
786 Lawton Ct Rochester Hills, MI	1.0–3.0	1.0–1.5	1050	$1,685	$1.60	1d	6	0.19mi
1204 Sherwood Ct Rochester Hills, MI	1.0–2.0	1.0–2.0	1030	$1,712	$1.66	0d	5	0.30mi
1401 S Rochester Rd Rochester Hills, MI	3.0	1.0–2.0	1024	$2,213	$2.16	0d	6	0.72mi
1401 S Rochester Rd Rochester Hills, MI	3.0	1.0–2.0	1011	$1,950	$1.93	45d	4	0.72mi
329 1st St Rochester, MI	2.0	2.0	1100	$1,850	$1.68	45d	1	1.16mi
120 Campbell St Unit 1 Rochester, MI	1.0	1.0	850	$1,085	$1.28	45d	1	1.17mi
112 Walnut Blvd Rochester, MI	1.0–2.0	1.0–2.0	966	$3,270	$3.39	16d	6	1.27mi
112 Walnut Blvd Rochester, MI	1.0–3.0	1.0–2.0	1171	$2,650	$2.26	45d	3	1.27mi
643 Dorchester Dr Rochester Hills, MI	1.0–3.0	1.0–2.5	1125	$1,736	$1.54	1d	15	1.31mi
930 W 3rd St Rochester, MI	2.0	1.0	977	$2,200	$2.25	4d	1	1.34mi
2740 Upper Ridge Dr Rochester Hills, MI	2.0	2.0	1093	$3,480	$3.18	4d	1	1.43mi

HOA detail condo

• Monthly dues: $576 · $6,912/yr
• Likely covers: watersewerexterior maint.pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 32 events

1. 2026-06-21
   days on market $140,000 Active 13 DOM
2. 2026-06-18
   days on market $140,000 Active 10 DOM
3. 2026-06-17
   days on market $140,000 Active 9 DOM
4. 2026-06-16
   days on market $140,000 Active 8 DOM
5. 2026-06-15
   days on market $140,000 Active 7 DOM
6. 2026-06-13
   days on market $140,000 Active 5 DOM
7. 2026-06-13
   days on market $140,000 Active 4 DOM
8. 2026-06-08
   pricedays on marketlisting id $140,000 Active 1 DOM
9. 2026-06-07
   days on market $142,000 Active 52 DOM
10. 2026-06-04
    days on market $142,000 Active 49 DOM
11. 2026-06-03
    days on market $142,000 Active 48 DOM
12. 2026-06-02
    days on market $142,000 Active 47 DOM
13. 2026-06-01
    days on market $142,000 Active 46 DOM
14. 2026-05-31
    days on market $142,000 Active 45 DOM
15. 2026-05-06
    price $145,900 599-char remark
16. 2026-05-06
    price $145,900 599-char remark
17. 2026-04-17
    listed $150,000 Active 599-char remark
18. 2026-04-17
    listed $150,000 Active 599-char remark
19. 2026-04-16
    historical $150,000 599-char remark
20. 2023-06-19
    soldstatus $99,900 Sold
21. 2023-06-19
    soldstatus $99,900 Closed
22. 2023-05-03
    status Pending
23. 2023-05-03
    status Pending
24. 2023-05-01
    listed $99,900 Active
25. 2023-05-01
    listed $99,900 Active
26. 2011-05-23
    soldstatus $22,000
27. 2011-05-23
    soldstatus $22,000
28. 2011-03-31
    historical
29. 2011-02-23
    listed $22,000
30. 2011-02-23
    listed $22,000
31. 2009-01-26
    historical
32. 2008-05-02
    listed $54,500

ⓘ 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: $22,752
• − Mortgage interest: −$7,842
• − Property taxes: −$2,100
• − Insurance: −$700
• − Repairs & maintenance: −$1,820
• − Management: −$1,820
• − HOA: −$6,912
• − Depreciation: −$4,073
• Taxable loss: −$2,516
• Est. tax savings @ 24.0%: +$604
• After-tax cash flow: $55/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: Rochester Community School District
• NCES district ID: 2629940
• Math proficiency: 60% ▼ -9.00%
• Reading proficiency: 69% ▼ -4.00%
• Median HH income: $89,242
• Composite: 58.53/100
• National rank: #994
• State rank: #21 of 540 in MI

Livability — Rochester Hills

• Score: 77/100
• State rank: #127
• US rank: #3163

Category grades

Amenities F Commute F Cost of living C Crime A+ Employment A+ Housing A+ Health & safety D User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rochester Hills, MI
• County: Oakland County · 1,009,092 people
• City population: 44,714
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 44,714
• Household income: $106,576
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 926.0

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 (74%)
• Race & ethnicity: White 74% Asian 14% Two or more races 6% Black 4% Hispanic / Latino 4%
• Common ancestry: Romanian 9% Lithuanian 3% Slovak 2%
• Foreign-born: 19% · Canada, China, South Korea
• Languages at home: 76% English-only · Other Indo-European 9% Spanish 3% Arabic 2%

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: ▼ -339.13%
• Current HPI: 188.8794
• Rent YoY: ▲ 1.78%
• 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

+156.9% since first listed

25 events — show timeline

• 2026-06-08 Listed $140,000 MiRealSource-MiMLS
• 2026-06-08 Listed $140,000 REALCOMP
• 2026-06-08 Listing Removed — MiRealSource-MiMLS
• 2026-05-26 Price Changed $142,000 MiRealSource-MiMLS
• 2026-05-26 Price Changed $142,000 REALCOMP
• 2026-05-20 Price Changed $145,000 MiRealSource-MiMLS
• 2026-05-19 Price Changed $145,000 REALCOMP
• 2026-05-06 Price Changed $145,900 MiRealSource-MiMLS
• 2026-05-06 Price Changed $145,900 REALCOMP
• 2026-04-17 Listed $150,000 MiRealSource-MiMLS
• 2026-04-17 Listed $150,000 REALCOMP
• 2026-04-16 Coming Soon — MiRealSource-MiMLS
• 2023-06-19 Sold (MLS) $99,900 MiRealSource-MiMLS
• 2023-06-19 Sold (MLS) $99,900 REALCOMP
• 2023-05-03 Pending — MiRealSource-MiMLS
• 2023-05-03 Pending — REALCOMP
• 2023-05-01 Listed $99,900 MiRealSource-MiMLS
• 2023-05-01 Listed $99,900 REALCOMP
• 2011-05-23 Sold (MLS) $22,000 MiRealSource-MiMLS
• 2011-05-23 Sold (MLS) $22,000 REALCOMP
• 2011-03-31 Listing Removed — MiRealSource-MiMLS
• 2011-02-23 Listed $22,000 MiRealSource-MiMLS
• 2011-02-23 Listed $22,000 REALCOMP
• 2009-01-26 Listing Removed — MiRealSource-MiMLS
• 2008-05-02 Listed $54,500 MiRealSource-MiMLS