25325 Potomac Dr #3 · South Lyon, MI 48178

$82,900

2 bd · 2.0 ba · 1,500 sqft · Condo · 108 Days on market

Built 1980 Fair condition $55/sqft · 21% below area Est $105k · 21% under $555/mo HOA · 29% of rent

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.7/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Community for folks 55+ * 2 bedrooms 2 full baths * Covered Porch * White kitchen cabinets * New paint in some rooms * Finished basement with large family room, nice full shower bath and laundry with washer and dryer included in purchase * Maintenance dues include water, trash removal, lawn maintenance and heat * Many activities to choose from: Exercise Classes, card games, great library, outdoor swimming pool * clubhouse and many new folks yet to meet * Vetting for new members is done before closing *

Key facts

• Covered porch
• Large family room
• Full shower bath

Tags

• COVERED PORCH
• WHITE KITCHEN CABINETS
• FINISHED BASEMENT
• LARGE FAMILY ROOM
• FULL SHOWER BATH
• LAUNDRY WITH WASHER AND DRYER

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $83k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $396 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $83k).
• Recommended offer: $75k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.0% vs local median 2.6% in South Lyon — 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 83/100 on livability (#46 in MI, #953 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities C-, commute F.
• South Lyon Community Schools (suburban): math 46% / reading 59% proficiency, ranked #74 of 540 in MI (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: 350 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).
• This rent is only 18% of the median local income ($132k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $573 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 $23k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 20y ago; this cycle's ask has dropped $7k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $38k; list at $83k implies a 121% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.

Recommended offer $75,439 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-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?
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: 2.33% ✓
• Cap rate: 12.03%
• Cash-on-cash: 20.48%
• DSCR: 1.91
• GRM: 3.6

CMA / ARV

• ARV (median comp): $104,898
• List price: $82,900
• Delta: -20.97%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 13.1%
• Equity multiple: 1.52×
• Total profit: $12,170
• Equity at exit: $12,361

10-year hold

• IRR: 22.2%
• Equity multiple: 2.92×
• Total profit: $44,594
• Equity at exit: $7,168

Cash invested: $23,212 (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 48178

• Active inventory: 350
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,929 high
• Mortgage (P&I): −$435
• Tax est. 1.5%: −$104 /mo · $1,244/yr
• Insurance: −$35
• HOA: −$555
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $396

Break-even live

Break-even rent $1,428

Max offer price $82,900

Occupancy floor 74%

Sensitivity live

Price	-10% $453	-5% $425	+0% $396	+5% $368	+10% $339
Rent	-10% $244	-5% $320	+0% $396	+5% $472	+10% $549
Rate	-1.0pp $438	-0.5pp $417	base $396	+0.5pp $375	+1.0pp $353

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: $20,725
• Closing costs: $2,487
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
663 Jamie Vis South Lyon, MI	3.0	2.5	1560	$2,749	$1.76	0d	1	0.28mi
671 E Crest Ln South Lyon, MI	3.0	1.5	1589	$2,250	$1.42	18d	1	0.37mi
425 Donovan St South Lyon, MI	2.0–3.0	1.0	1027	$1,500	$1.46	0d	1	0.62mi
113 W Liberty St Unit 1 South Lyon, MI	3.0	1.0	1050	$1,700	$1.62	19d	1	0.82mi
200 Brookwood Dr South Lyon, MI	2.0	2.0	1193	$1,672	$1.40	4d	3	1.07mi
249 Brookwood Dr #2 South Lyon, MI	2.0	1.0	1079	$1,475	$1.37	45d	1	1.18mi

HOA detail condo

• Monthly dues: $555 · $6,660/yr
• Likely covers: watertrashpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 37 events

1. 2026-06-21
   days on market $82,900 Active 108 DOM
2. 2026-06-18
   days on market $82,900 Active 105 DOM
3. 2026-06-17
   days on market $82,900 Active 104 DOM
4. 2026-06-16
   days on market $82,900 Active 103 DOM
5. 2026-06-15
   days on market $82,900 Active 102 DOM
6. 2026-06-13
   days on market $82,900 Active 100 DOM
7. 2026-06-13
   days on market $82,900 Active 99 DOM
8. 2026-06-09
   days on market $82,900 Active 96 DOM
9. 2026-06-08
   days on market $82,900 Active 95 DOM
10. 2026-06-07
    days on market $82,900 Active 94 DOM
11. 2026-06-04
    days on market $82,900 Active 91 DOM
12. 2026-06-03
    days on market $82,900 Active 90 DOM
13. 2026-06-02
    days on market $82,900 Active 89 DOM
14. 2026-06-01
    days on market $82,900 Active 88 DOM
15. 2026-05-31
    days on market $82,900 Active 87 DOM
16. 2026-05-19
    price $82,900 512-char remark

    Show marketing remark (512 chars)

    Community for folks 55+ * 2 bedrooms 2 full baths * Covered Porch * White kitchen cabinets * New paint in some rooms * Finished basement with large family room, nice full shower bath and laundry with washer and dryer included in purchase * Maintenance dues include water, trash removal, lawn maintenance and heat * Many activities to choose from: Exercise Classes, card games, great library, outdoor swimming pool * clubhouse and many new folks yet to meet * Vetting for new members is done before closing *

17. 2026-05-18
    price $82,900 513-char remark

    Show marketing remark (513 chars)

    Community for folks 55+ * 2 bedrooms 2 full baths * Covered Porch * White kitchen cabinets * New paint in some rooms * Finished basement with large family room, nice full shower bath and laundry with washer and dryer included in purchase * Maintenance dues include water, trash removal, lawn maintenance and heat * Many activities to choose from: Exercise Classes, card games, great library, outdoor swimming pool * clubhouse and many new folks yet to meet * Vetting for new members is done before closing *

18. 2026-04-03
    price $87,000 512-char remark

    Show marketing remark (513 chars)

    Community for folks 55+ * 2 bedrooms 2 full baths * Covered Porch * White kitchen cabinets * New paint in some rooms * Finished basement with large family room, nice full shower bath and laundry with washer and dryer included in purchase * Maintenance dues include water, trash removal, lawn maintenance and heat * Many activities to choose from: Exercise Classes, card games, great library, outdoor swimming pool * clubhouse and many new folks yet to meet * Vetting for new members is done before closing *

19. 2026-04-03
    price $87,000 513-char remark

    Show marketing remark (513 chars)

    Community for folks 55+ * 2 bedrooms 2 full baths * Covered Porch * White kitchen cabinets * New paint in some rooms * Finished basement with large family room, nice full shower bath and laundry with washer and dryer included in purchase * Maintenance dues include water, trash removal, lawn maintenance and heat * Many activities to choose from: Exercise Classes, card games, great library, outdoor swimming pool * clubhouse and many new folks yet to meet * Vetting for new members is done before closing *

20. 2026-03-05
    listed $89,900 Active 512-char remark

    Show marketing remark (513 chars)

    Community for folks 55+ * 2 bedrooms 2 full baths * Covered Porch * White kitchen cabinets * New paint in some rooms * Finished basement with large family room, nice full shower bath and laundry with washer and dryer included in purchase * Maintenance dues include water, trash removal, lawn maintenance and heat * Many activities to choose from: Exercise Classes, card games, great library, outdoor swimming pool * clubhouse and many new folks yet to meet * Vetting for new members is done before closing *

21. 2026-03-05
    listed $89,900 Active 513-char remark

    Show marketing remark (513 chars)

    Community for folks 55+ * 2 bedrooms 2 full baths * Covered Porch * White kitchen cabinets * New paint in some rooms * Finished basement with large family room, nice full shower bath and laundry with washer and dryer included in purchase * Maintenance dues include water, trash removal, lawn maintenance and heat * Many activities to choose from: Exercise Classes, card games, great library, outdoor swimming pool * clubhouse and many new folks yet to meet * Vetting for new members is done before closing *

22. 2026-03-03
    historical
23. 2026-03-03
    historical
24. 2025-10-15
    status Active
25. 2025-10-15
    status Active
26. 2025-10-14
    historical Active Under Contract
27. 2025-10-14
    historical Keep Showing-Contgcy Appl
28. 2025-09-26
    listed $92,000 Active
29. 2025-09-26
    listed $92,000 Active
30. 2010-11-22
    historical
31. 2010-09-15
    listed $29,900
32. 2010-07-20
    historical
33. 2010-03-20
    listed $34,900
34. 2006-07-27
    soldstatus $37,500
35. 2006-05-08
    listed $37,500
36. 2006-05-07
    historical
37. 2006-01-30
    listed $49,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 16 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: $23,151
• − Mortgage interest: −$4,644
• − Property taxes: −$1,244
• − Insurance: −$414
• − Repairs & maintenance: −$1,852
• − Management: −$1,852
• − HOA: −$6,660
• − Depreciation: −$2,412
• Taxable income: $4,073
• Est. tax owed @ 24.0%: −$978
• After-tax cash flow: $3,777/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 · 1 photo

Fair 45/100 Moderate rehab

The property is in fair condition with some landscaping and painting needed. It has a good roof and finished basement, but requires updates to boost its value.

Repairs flagged

• Minor landscaping — Some landscaping needs attention
• Minor fence — Fence appears slightly worn

Value-add opportunities

• Both landscaping — Enhances curb appeal and value
• Both painting — Improves interior and exterior appearance

Renovation cost estimate screening

Repair item	Severity	Est. cost
landscaping · Some landscaping needs attention	Minor	$500–3,000
fence · Fence appears slightly worn	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both landscaping — Enhances curb appeal and value ↑
• Both painting — Improves interior and exterior appearance ↑

ⓘ 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: South Lyon Community Schools
• NCES district ID: 2632250
• Math proficiency: 46% ▼ -10.00%
• Reading proficiency: 59% ▼ -4.00%
• Median HH income: $71,419
• Composite: 46.86/100
• National rank: #2372
• State rank: #74 of 540 in MI

Livability — South Lyon

• Score: 83/100
• State rank: #46
• US rank: #953

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Lyon, MI
• County: Oakland County · 1,009,092 people
• City population: 37,789
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 37,789
• Household income: $131,558
• Rent vs Own: 8.8% rent · 91.2% own
• Severe rent burden: 141.0

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 (88%)
• Race & ethnicity: White 88% Two or more races 4% Asian 4% Hispanic / Latino 3% Black 1%
• Common ancestry: Romanian 14% Lithuanian 4% Slovak 4%
• Foreign-born: 7% · Canada, South Korea, China
• Languages at home: 93% English-only · Other Indo-European 2% Other Asian/Pacific 1% Chinese 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: ▼ -251.96%
• Current HPI: 197.5122
• 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

+66.1% since first listed

22 events — show timeline

• 2026-05-19 Price Changed $82,900 MiRealSource-MiMLS
• 2026-05-18 Price Changed $82,900 REALCOMP
• 2026-04-03 Price Changed $87,000 MiRealSource-MiMLS
• 2026-04-03 Price Changed $87,000 REALCOMP
• 2026-03-05 Listed $89,900 REALCOMP
• 2026-03-05 Listed $89,900 MiRealSource-MiMLS
• 2026-03-03 Listing Removed — REALCOMP
• 2026-03-03 Listing Removed — MiRealSource-MiMLS
• 2025-10-15 Relisted — MiRealSource-MiMLS
• 2025-10-15 Relisted — REALCOMP
• 2025-10-14 Contingent — REALCOMP
• 2025-10-14 Contingent — MiRealSource-MiMLS
• 2025-09-26 Listed $92,000 REALCOMP
• 2025-09-26 Listed $92,000 MiRealSource-MiMLS
• 2010-11-22 Listing Removed — REALCOMP
• 2010-09-15 Listed $29,900 REALCOMP
• 2010-07-20 Listing Removed — REALCOMP
• 2010-03-20 Listed $34,900 REALCOMP
• 2006-07-27 Sold (MLS) $37,500 REALCOMP
• 2006-05-08 Listed $37,500 REALCOMP
• 2006-05-07 Listing Removed — REALCOMP
• 2006-01-30 Listed $49,900 REALCOMP