1031 Falstaff Cir · Salem, MI 48167

$73,900

3 bd · 2.0 ba · 1,456 sqft · Other · 50 Days on market

Built 2014 0.42 ac lot ↓ 1% since listing

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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 +4.7/10.0
• Rent growth +3.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Tucked into one of Northville's most desirable communities, 1031 Falstaff Cir offers the perfect blend of space, comfort, and location. This well-maintained 3-bedroom, 2-bath home delivers a functional layout designed for both everyday living and entertaining, with a bright main living area that flows seamlessly into the dining space and kitchen. The spacious primary suite provides a private retreat complete with its own full bath. The home's layout strikes the right balance between openness and defined spaces, giving you room to live comfortably without wasted square footage. Step outside and enjoy a peaceful neighborhood setting with tree-lined streets and a community feel that's hard to replicate. Whether it's morning walks, evening relaxation, or simply enjoying the quiet surroundings, this location adds to the home's everyday appeal. Positioned just minutes from downtown Northville, you'll have easy access to local dining, boutique shopping, parks, and year-round community events. Commuting is simple with convenient access to major roadways, making this an ideal location for both work and lifestyle. Lot rent is approximately $800 per month; buyer to verify all information with the park. All residents must be approved by the community following an accepted offer or during the inspection period. Contact the community office for verification at Northville Crossing, [phone]. Financing for homes located in parks does differ from traditional mortgage programs and typically requires specialized lenders; mobile-home-specific lenders are available to assist qualified buyers with the pre-approval process. Limited-Time Buyer Incentive! Seller is offering to cover the buyer's first two months of lot rent to help reduce upfront ownership costs. These added savings gives buyers more room to move forward with confidence. If you're looking for an affordable, practical place to call home with room to make it your own, this is an opportunity you won't want to miss.

Key facts

• 0.42 acre lot
• Built 2014
• Listed 50 days

Property features AI

Exterior

• Parking: No garage; Parking pad
• Utilities: Public sewer
• Home design: Single-family residence; One story; Ground-level entry with steps; Vinyl siding
• Construction: Slab foundation
• Exterior features: Asphalt roof; Paved road access; Pets allowed (contact for details)

Interior

• Kitchen: Dishwasher; Free-standing gas range; Free-standing refrigerator; Microwave
• Bedrooms: 3 total rooms (includes sleeping areas)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Ceiling fans; Gas water heater
• Laundry & utility: Washer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $74k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $74k).
• Recommended offer: $72k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• 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: Rents rising (+4.0%/yr); 213 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 996 units permitted in Washtenaw County in 2024 (492 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $511 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Washtenaw County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($72k) is reasonable based on typical stale-listing flexibility.
• 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 $71,683 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 2.94% ✓
• Cap rate: 25.89%
• Cash-on-cash: 69.99%
• DSCR: 4.11
• GRM: 2.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.97% rent growth · sell at horizon

5-year hold

• IRR: 70.6%
• Equity multiple: 4.24×
• Total profit: $67,066
• Equity at exit: $11,019

10-year hold

• IRR: 74.9%
• Equity multiple: 9.05×
• Total profit: $166,476
• Equity at exit: $6,390

Cash invested: $20,692 (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 48167

• Rents YoY: 4.0%
• Active inventory: 213
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $2,174 medium
• Mortgage (P&I): −$388
• Tax est. 1.5%: −$92 /mo · $1,108/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$457
• Net cashflow: $1,207

Break-even live

Break-even rent $646

Max offer price $73,900

Occupancy floor 39%

Sensitivity live

Price	-10% $1,258	-5% $1,232	+0% $1,207	+5% $1,181	+10% $1,156
Rent	-10% $1,035	-5% $1,121	+0% $1,207	+5% $1,293	+10% $1,379
Rate	-1.0pp $1,244	-0.5pp $1,226	base $1,207	+0.5pp $1,188	+1.0pp $1,168

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: $18,475
• Closing costs: $2,217
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9800 Bloomsbury Cir Northville, MI	3.0	2.0	1456	$1,629	$1.12	3d	1	0.37mi

Listing history 16 events

1. 2026-06-18
   days on market $73,900 Active 50 DOM
2. 2026-06-17
   days on market $73,900 Active 49 DOM
3. 2026-06-16
   days on market $73,900 Active 48 DOM
4. 2026-06-15
   days on market $73,900 Active 47 DOM
5. 2026-06-13
   days on market $73,900 Active 45 DOM
6. 2026-06-13
   pricedays on market $73,900 Active 44 DOM
7. 2026-06-09
   days on market $75,000 Active 41 DOM
8. 2026-06-08
   days on market $75,000 Active 40 DOM
9. 2026-06-07
   days on market $75,000 Active 39 DOM
10. 2026-06-04
    days on market $75,000 Active 36 DOM
11. 2026-06-03
    days on market $75,000 Active 35 DOM
12. 2026-06-02
    days on market $75,000 Active 34 DOM
13. 2026-06-01
    days on market $75,000 Active 33 DOM
14. 2026-05-31
    days on market $75,000 Active 32 DOM
15. 2026-04-28
    listed $75,000 Active 1826-char remark

    Show marketing remark (1993 chars)

    Tucked into one of Northville's most desirable communities, 1031 Falstaff Cir offers the perfect blend of space, comfort, and location. This well-maintained 3-bedroom, 2-bath home delivers a functional layout designed for both everyday living and entertaining, with a bright main living area that flows seamlessly into the dining space and kitchen. The spacious primary suite provides a private retreat complete with its own full bath. The home's layout strikes the right balance between openness and defined spaces, giving you room to live comfortably without wasted square footage. Step outside and enjoy a peaceful neighborhood setting with tree-lined streets and a community feel that's hard to replicate. Whether it's morning walks, evening relaxation, or simply enjoying the quiet surroundings, this location adds to the home's everyday appeal. Positioned just minutes from downtown Northville, you'll have easy access to local dining, boutique shopping, parks, and year-round community events. Commuting is simple with convenient access to major roadways, making this an ideal location for both work and lifestyle. Lot rent is approximately $800 per month; buyer to verify all information with the park. All residents must be approved by the community following an accepted offer or during the inspection period. Contact the community office for verification at Northville Crossing, [phone]. Financing for homes located in parks does differ from traditional mortgage programs and typically requires specialized lenders; mobile-home-specific lenders are available to assist qualified buyers with the pre-approval process. Limited-Time Buyer Incentive! Seller is offering to cover the buyer's first two months of lot rent to help reduce upfront ownership costs. These added savings gives buyers more room to move forward with confidence. If you're looking for an affordable, practical place to call home with room to make it your own, this is an opportunity you won't want to miss.

16. 2026-04-28
    listed $75,000 Active 1778-char remark

    Show marketing remark (1993 chars)

    Tucked into one of Northville's most desirable communities, 1031 Falstaff Cir offers the perfect blend of space, comfort, and location. This well-maintained 3-bedroom, 2-bath home delivers a functional layout designed for both everyday living and entertaining, with a bright main living area that flows seamlessly into the dining space and kitchen. The spacious primary suite provides a private retreat complete with its own full bath. The home's layout strikes the right balance between openness and defined spaces, giving you room to live comfortably without wasted square footage. Step outside and enjoy a peaceful neighborhood setting with tree-lined streets and a community feel that's hard to replicate. Whether it's morning walks, evening relaxation, or simply enjoying the quiet surroundings, this location adds to the home's everyday appeal. Positioned just minutes from downtown Northville, you'll have easy access to local dining, boutique shopping, parks, and year-round community events. Commuting is simple with convenient access to major roadways, making this an ideal location for both work and lifestyle. Lot rent is approximately $800 per month; buyer to verify all information with the park. All residents must be approved by the community following an accepted offer or during the inspection period. Contact the community office for verification at Northville Crossing, [phone]. Financing for homes located in parks does differ from traditional mortgage programs and typically requires specialized lenders; mobile-home-specific lenders are available to assist qualified buyers with the pre-approval process. Limited-Time Buyer Incentive! Seller is offering to cover the buyer's first two months of lot rent to help reduce upfront ownership costs. These added savings gives buyers more room to move forward with confidence. If you're looking for an affordable, practical place to call home with room to make it your own, this is an opportunity you won't want to miss.

ⓘ 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: $26,090
• − Mortgage interest: −$4,140
• − Property taxes: −$1,108
• − Insurance: −$370
• − Repairs & maintenance: −$2,087
• − Management: −$2,087
• − Depreciation: −$2,150
• Taxable income: $14,148
• Est. tax owed @ 24.0%: −$3,396
• After-tax cash flow: $11,087/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: 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 — Salem

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

Census & demographics

• County: Wayne County · 1,562,939 people
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 24,713
• Household income: $124,630
• Rent vs Own: 25.9% rent · 74.1% own
• Severe rent burden: 441.0

Population outlook (Washtenaw County) Hauer SSP2

• Today (2025): 402,878 people
• By 2030: 424,104 · +5.3%
• By 2040: 464,633 · +15.3%
• By 2050: 504,728 · +25.3%
• By 2075: 614,463 · +52.5%
• By 2100: 676,181 · +67.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Asian 10% Two or more races 5% Hispanic / Latino 4% Black 4%
• Common ancestry: Romanian 11% Lithuanian 4% Slovak 3%
• Foreign-born: 15% · Canada, China, South Korea
• Languages at home: 85% English-only · Other Indo-European 4% Other Asian/Pacific 3% Chinese 2%

Political lean MEDSL · Washtenaw

• 2024 margin: Solid D (+44.4) · D 71.0% · R 26.6% · Other 2.4%
• 2008→2024 swing: +3.5pp toward D · 2008: 41.0pp · 2024: 44.4pp
• All cycles: 2024: D+44.4 2020: D+46.6 2016: D+41.5 2012: D+36.0 2008: D+41.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -275.65%
• Current HPI: 176.171
• Rent YoY: ▲ 3.97%
• 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

-1.5% since first listed

4 events — show timeline

• 2026-06-10 Price Changed $73,900 MiRealSource-MiMLS
• 2026-06-10 Price Changed $73,900 REALCOMP
• 2026-04-28 Listed $75,000 REALCOMP
• 2026-04-28 Listed $75,000 MiRealSource-MiMLS