2335 Douglas Dr #687

Milford, MI 48357

$82,995B-

2 bd · 2.0 ba · 900 sqft · Built 2026 · Manufactured · Active · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,079/mo
• Mortgage (P&I): −$435
• Tax + insurance: −$138
• HOA: −$0
• Vac / Maint / Mgmt: −$227
• Net cashflow: $279/mo
• Annual: $3,347/yr
• Cap rate: 10.33%
• Cash-on-cash: 14.40%
• DSCR: 1.64
• 1% rule: 1.30%
• Cash to close: $23,239

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $83k. Condition is rated good.
• At list price, monthly cash flow is $279 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $83k).
• It's been on market 16 days — a 2% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $82k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $574 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 87/100 on livability (#17 in MI, #275 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, employment A+; Watch: commute F.
• Huron Valley Schools (suburban): math 42% / reading 56% proficiency, ranked #87 of 540 in MI (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Highland Elementary School (math 27% / reading 27%, grade F, #923 of 1,397 statewide, top 69%, 286 students, 54% FRL); Muir Middle School (math 47% / reading 60%, grade C+, #86 of 493 statewide, top 18%, 641 students, 30% FRL); Milford High School (math 47% / reading 68%, grade C, #95 of 713 statewide, top 14%, 1,273 students, 28% FRL).
• Market conditions: 68 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).
• 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 ~9 years — after that, you're playing with house money.
• Cap rate 10.3% vs local median 1.7% in Milford — 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.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.