3026 Norcott Dr · Keego Harbor, MI 48320

$169,900

2 bd · 1.0 ba · 877 sqft · SingleFamily public records · 93 Days on market

Built 1950 3,920 sqft lot $194/sqft · at area comps Est $165k · at est.

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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 +14.4/30.0
• ARV discount +6.3/15.0
• Schools +4.5/10.0
• DSCR +4.4/10.0
• Livability +3.9/5.0
• 1% rule +3.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 2-bedroom, 1-bath cottage with lake privileges (Cass Lake and Sylvan)—perfect for first-time homebuyers or investors. This property has consistently been used as a rental and has never been owner-occupied. Features a cozy interior with a functional layout, newer windows, and some updated flooring. Offers low-maintenance living with convenient access to the lake for boating, swimming, and outdoor enjoyment. Great option as a starter home, weekend retreat, or income-producing property. Buyer to verify all information and lake privilege details Property is being sold as is.

Key facts

• Lake privileges
• Newer windows
• Updated flooring

Tags

• LAKE PRIVILEGES
• FUNCTIONAL LAYOUT
• NEWER WINDOWS
• UPDATED FLOORING
• LOW-MAINTENANCE LIVING
• CONVENIENT ACCESS TO THE LAKE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $35 ($422/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $149k (12.3% below list).
• Recommended offer: $149k (12.3% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.8% in Keego Harbor — 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 78/100 on livability (#110 in MI, #2,643 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D-, commute F.
• West Bloomfield School District (suburban): math 42% / reading 55% proficiency, ranked #83 of 540 in MI (top 15%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Roosevelt Elementary School (math 48% / reading 61%, grade C, #276 of 1,397 statewide, top 22%, 356 students, 49% FRL); West Bloomfield Middle School (math 46% / reading 55%, grade C, #110 of 493 statewide, top 23%, 941 students, 42% FRL); West Bloomfield High School (math 40% / reading 61%, grade D+, #146 of 713 statewide, top 21%, 1,652 students, 34% FRL) — zoned schools average 42% FRL vs 23% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 26 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $1k of loan paydown is wiped out by about $5k 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 93 days — a 9% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $149,082 (12.3% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.88% ✗
• Cap rate: 6.54%
• Cash-on-cash: 0.89%
• DSCR: 1.04
• GRM: 9.5

CMA / ARV

• ARV (median comp): $165,353
• List price: $169,900
• Delta: 2.75%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3033 Moss St	0.07mi	2/1.0	850 (-3%)	9mo	$150,000	$176	84
2960 Glenbroke St	0.12mi	2/1.0	816 (-7%)	7mo	$80,000	$98	77
1955 Maddy Ln	0.34mi	2/1.0	924 (+5%)	4mo	$176,500	$191	72
1887 Maddy Ln	0.30mi	2/1.0	870 (-1%)	16mo	$190,000	$218	71
1865 Cass Lake Front Rd	0.08mi	2/2.0	828 (-6%)	16mo	$235,000	$284	70
2305 Hester Ct	0.61mi	2/1.0	860 (-2%)	12mo	$170,000	$198	59
3087 Brock St	0.38mi	1/1.0 (-1)	800 (-9%)	7mo	$170,700	$213	57
3216 Varjo Ct	0.75mi	2/1.0	800 (-9%)	23mo	$168,400	$211	31
2435 Kleist Ct	0.70mi	2/1.0	983 (+12%)	21mo	$172,000	$175	30

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: -14.9%
• Equity multiple: 0.47×
• Total profit: $-25,289
• Equity at exit: $25,333

10-year hold

• IRR: -6.2%
• Equity multiple: 0.60×
• Total profit: $-19,124
• Equity at exit: $14,690

Cash invested: $47,572 (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 48320

• Active inventory: 26
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,491 high
• Mortgage (P&I): −$891
• Tax from tax record: −$181 /mo · $2,170/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $35

Break-even live

Break-even rent $1,446

Max offer price $169,900

Occupancy floor 93%

Sensitivity live

Price	-10% $131	-5% $83	+0% $35	+5% $-13	+10% $-61
Rent	-10% $-83	-5% $-24	+0% $35	+5% $94	+10% $153
Rate	-1.0pp $121	-0.5pp $78	base $35	+0.5pp $-9	+1.0pp $-54

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1671 Cass Lake Rd Keego Harbor, MI	1.0	1.0	743	$1,200	$1.62	45d	1	0.19mi
3048 Andre St Keego Harbor, MI	3.0	1.0	920	$1,995	$2.17	13d	1	0.42mi
2510 Woodrow Wilson Blvd West Bloomfield Township, MI	1.0	1.0	825	$1,046	$1.27	1d	5	0.75mi
3530 Denise Ct Waterford Twp, MI	1.0–2.0	1.0–1.5	890	$1,975	$2.22	0d	15	0.96mi
3530 Denise Ct Waterford Twp, MI	1.0–2.0	1.0–1.5	1004	$1,910	$1.90	25d	15	0.96mi
311 S Telegraph Rd Pontiac, MI	1.0–2.0	1.0	732	$1,200	$1.64	45d	1	1.42mi
1240 Wagner Ave Bloomfield Hills, MI	2.0	1.0	704	$1,550	$2.20	45d	1	1.42mi

Listing history 17 events

1. 2026-06-21
   days on market $169,900 Active 93 DOM
2. 2026-06-19
   price $169,900 Active 90 DOM
3. 2026-06-18
   days on market $179,900 Active 90 DOM
4. 2026-06-17
   days on market $179,900 Active 89 DOM
5. 2026-06-16
   days on market $179,900 Active 88 DOM
6. 2026-06-15
   days on market $179,900 Active 87 DOM
7. 2026-06-13
   days on market $179,900 Active 85 DOM
8. 2026-06-09
   days on market $179,900 Active 81 DOM
9. 2026-06-08
   days on market $179,900 Active 80 DOM
10. 2026-06-07
    days on market $179,900 Active 79 DOM
11. 2026-06-04
    days on market $179,900 Active 76 DOM
12. 2026-06-03
    days on market $179,900 Active 75 DOM
13. 2026-06-02
    days on market $179,900 Active 74 DOM
14. 2026-06-01
    days on market $179,900 Active 73 DOM
15. 2026-05-31
    days on market $179,900 Active 72 DOM
16. 2026-03-20
    listed $179,900 Active 593-char remark

    Show marketing remark (588 chars)

    Charming 2-bedroom, 1-bath cottage with lake privileges (Cass Lake and Sylvan) - perfect for first-time homebuyers or investors. This property has consistently been used as a rental and has never been owner-occupied. Features a cozy interior with a functional layout, newer windows, and some updated flooring. Offers low-maintenance living with convenient access to the lake for boating, swimming, and outdoor enjoyment. Great option as a starter home, weekend retreat, or income-producing property. Buyer to verify all information and lake privilege details Property is being sold as is.

17. 2026-03-20
    listed $179,900 Active 588-char remark

    Show marketing remark (588 chars)

    Charming 2-bedroom, 1-bath cottage with lake privileges (Cass Lake and Sylvan) - perfect for first-time homebuyers or investors. This property has consistently been used as a rental and has never been owner-occupied. Features a cozy interior with a functional layout, newer windows, and some updated flooring. Offers low-maintenance living with convenient access to the lake for boating, swimming, and outdoor enjoyment. Great option as a starter home, weekend retreat, or income-producing property. Buyer to verify all information and lake privilege details Property is being sold as is.

ⓘ 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: $2,170 · $181/mo
• Projected year-2 tax: $2,393 · $199/mo
• Expected delta: +$223/yr (+$19/mo · 10.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 74% 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: $17,890
• − Mortgage interest: −$9,517
• − Property taxes: −$2,170
• − Insurance: −$850
• − Repairs & maintenance: −$1,431
• − Management: −$1,431
• − Depreciation: −$4,943
• Taxable loss: −$2,451
• Est. tax savings @ 24.0%: +$588
• After-tax cash flow: $1,010/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: West Bloomfield School District
• NCES district ID: 2635820
• Math proficiency: 42% ▼ -6.00%
• Reading proficiency: 55% ▼ -2.00%
• Median HH income: $89,668
• Composite: 45.28/100
• National rank: #2653
• State rank: #83 of 540 in MI

Livability — Keego Harbor

• Score: 78/100
• State rank: #110
• US rank: #2643

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Keego Harbor, MI
• Population (ZIP): 4,257

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 (84%)
• Race & ethnicity: White 84% Two or more races 7% Hispanic / Latino 5% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Romanian 9% Scotch-Irish 3% Iranian 2%
• Foreign-born: 9% · Canada
• Languages at home: 89% English-only · Other Indo-European 3% Spanish 2% 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: ▼ -177.64%
• Current HPI: 201.4886
• 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

2 events — show timeline

• 2026-03-20 Listed $179,900 MiRealSource-MiMLS
• 2026-03-20 Listed $179,900 REALCOMP

Property tax history

+2.3%/yr

Latest (2025): $2,170 · +0.1% YoY. Source: county tax records.