351 North Squirrel Rd Rd #26 · Auburn Hills, MI 48326

$15,000

3 bd · 2.0 ba · 1,000 sqft · SingleFamily · 40 Days on market

Built 1994 4,356 sqft lot $15/sqft · 93% below area $842/mo HOA · 41% of rent ↓ 40% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.8/5.0
• Schools +3.7/10.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Put your tax return to good use! Manufactured home on leased land with new AC in 2025! Step inside tons of space at an unbeatable price. Seller is interested in hearing all offers. Offers contingent on new owner getting community approval. This is a manufactured home on HOA reflects lot rent. Other monthly dues to community, 3 site tax, 18 trash fee, 30 community water bill in addition to residents personal use.

Key facts

• 4,356 sq ft lot
• Built 1994
• Listed 40 days

Property features AI

Finance

• Other: Directions: Upon entry to Oakland Estates from Squirrel Road turn right onto Orchard then right onto Lakeview; Cross street: East of 75, south of 59
• Financial info: No additional financial details provided
• HOA & community: Homeowners association with a monthly fee of $842

Exterior

• Parking: No garage
• Security: No security details provided
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level; Ground-level entry with steps; Vinyl siding
• Construction: Vinyl siding exterior; Pillar/post/pier foundation; One-story construction
• Exterior features: Paved road access; Irregular lot shape; Pets allowed (may have breed restrictions)

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: 3 total rooms (includes bedrooms and living spaces)
• Flooring: No flooring details provided
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Gas water heater; Crawl space basement
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $15k.

Deal economics

• At list price, monthly cash flow is $658 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $15k).
• Recommended offer: $15k (3.0% below list) — sets the bar for market timing.
• Cap rate 58.9% vs local median 3.7% in Auburn 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 76/100 on livability (#151 in MI, #3,766 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D+, schools D, amenities F.
• Avondale School District (suburban): math 34% / reading 48% proficiency, ranked #162 of 540 in MI (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-2.3%/yr); 110 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 1d 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 $104 of loan paydown is wiped out by about $450 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 + 0.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($15k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (40%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 41% of rent.

Recommended offer $14,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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?
7. 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.
8. 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.
9. 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: 13.53% ✓
• Cap rate: 58.92%
• Cash-on-cash: 187.95%
• DSCR: 9.36
• GRM: 0.6

CMA / ARV

• ARV (median comp): $226,245
• List price: $15,000
• Delta: -93.37%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
91 Churchill Rd	0.46mi	3/1.0	912 (-9%)	15mo	$276,000	$303	48
141 Robert Ct	0.50mi	3/1.0	1,059 (+6%)	23mo	$220,500	$208	44

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 9.11×
• Total profit: $34,067
• Equity at exit: $2,237

10-year hold

• IRR: —
• Equity multiple: 15.97×
• Total profit: $62,854
• Equity at exit: $1,297

Cash invested: $4,200 (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 48326

• Rents YoY: -2.3%
• Active inventory: 110
• Price-to-rent: 0.6×

Monthly cashflow live

• Estimated rent: $2,030 high
• Mortgage (P&I): −$79
• Tax est. 1.5%: −$19 /mo · $225/yr
• Insurance: −$6
• HOA: −$842
• Vacancy / Maint / Mgmt: −$426
• Net cashflow: $658

Break-even live

Break-even rent $1,197

Max offer price $15,000

Occupancy floor 63%

Sensitivity live

Price	-10% $668	-5% $663	+0% $658	+5% $653	+10% $647
Rent	-10% $497	-5% $578	+0% $658	+5% $738	+10% $818
Rate	-1.0pp $665	-0.5pp $662	base $658	+0.5pp $654	+1.0pp $650

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: $3,750
• Closing costs: $450
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
201 N Squirrel Rd Auburn Hills, MI	2.0–3.0	2.5–3.0	1475	$2,320	$1.57	0d	15	0.28mi
3250 Auburn Rd Unit The Carmichael Auburn Hills, MI	2.0	2.0	885	$2,150	$2.43	0d	1	0.60mi
27 S Squirrel Rd Unit 305 Auburn Hills, MI	2.0	2.0	885	$2,245	$2.54	3d	1	0.63mi
3280 S Adams Rd Auburn Hills, MI	2.0	1.0	780	$1,426	$1.83	3d	2	1.01mi
2862 Tall Oaks Ct Auburn Hills, MI	2.0	2.0	987	$1,520	$1.54	3d	6	1.37mi
3161 Bloomfield Ln Auburn Hills, MI	1.0–2.0	1.0–1.5	937	$1,499	$1.60	0d	22	1.40mi
806 Bloomfield Village Blvd Unit K Auburn Hills, MI	2.0	1.0	881	$1,500	$1.70	44d	1	1.41mi
3200 River Oaks Blvd Rochester Hills, MI	2.0	2.0	1625	$2,128	$1.31	0d	10	1.44mi
676 Sheffield Rd Auburn Hills, MI	3.0	1.5	1421	$2,495	$1.76	0d	1	1.48mi

HOA detail

• Monthly dues: $842 · $10,104/yr
• Likely covers: watertrash

Listing history 17 events

1. 2026-06-17
   status $15,000 Pending 40 DOM
2. 2026-06-16
   days on market $15,000 Active 40 DOM

   Show marketing remark (415 chars)

   Put your tax return to good use! Manufactured home on leased land with new AC in 2025! Step inside tons of space at an unbeatable price. Seller is interested in hearing all offers. Offers contingent on new owner getting community approval. This is a manufactured home on HOA reflects lot rent. Other monthly dues to community, 3 site tax, 18 trash fee, 30 community water bill in addition to residents personal use.

3. 2026-06-15
   days on market $15,000 Active 39 DOM
4. 2026-06-13
   days on market $15,000 Active 37 DOM
5. 2026-06-13
   days on market $15,000 Active 36 DOM
6. 2026-06-09
   days on market $15,000 Active 33 DOM
7. 2026-06-08
   days on market $15,000 Active 32 DOM
8. 2026-06-07
   days on market $15,000 Active 31 DOM
9. 2026-06-04
   days on market $15,000 Active 28 DOM
10. 2026-06-03
    days on market $15,000 Active 27 DOM
11. 2026-06-02
    days on market $15,000 Active 26 DOM
12. 2026-06-01
    days on market $15,000 Active 25 DOM
13. 2026-05-31
    days on market $15,000 Active 24 DOM
14. 2026-05-15
    price $20,000 430-char remark

    Show marketing remark (415 chars)

    Put your tax return to good use! Manufactured home on leased land with new AC in 2025! Step inside tons of space at an unbeatable price. Seller is interested in hearing all offers. Offers contingent on new owner getting community approval. This is a manufactured home on HOA reflects lot rent. Other monthly dues to community, 3 site tax, 18 trash fee, 30 community water bill in addition to residents personal use.

15. 2026-05-15
    price $20,000 430-char remark

    Show marketing remark (415 chars)

    Put your tax return to good use! Manufactured home on leased land with new AC in 2025! Step inside tons of space at an unbeatable price. Seller is interested in hearing all offers. Offers contingent on new owner getting community approval. This is a manufactured home on HOA reflects lot rent. Other monthly dues to community, 3 site tax, 18 trash fee, 30 community water bill in addition to residents personal use.

16. 2026-05-07
    listed $25,000 Active 430-char remark

    Show marketing remark (415 chars)

    Put your tax return to good use! Manufactured home on leased land with new AC in 2025! Step inside tons of space at an unbeatable price. Seller is interested in hearing all offers. Offers contingent on new owner getting community approval. This is a manufactured home on HOA reflects lot rent. Other monthly dues to community, 3 site tax, 18 trash fee, 30 community water bill in addition to residents personal use.

17. 2026-05-07
    listed $25,000 Active 430-char remark

    Show marketing remark (415 chars)

    Put your tax return to good use! Manufactured home on leased land with new AC in 2025! Step inside tons of space at an unbeatable price. Seller is interested in hearing all offers. Offers contingent on new owner getting community approval. This is a manufactured home on HOA reflects lot rent. Other monthly dues to community, 3 site tax, 18 trash fee, 30 community water bill in addition to residents personal use.

ⓘ 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: $24,357
• − Mortgage interest: −$840
• − Property taxes: −$225
• − Insurance: −$75
• − Repairs & maintenance: −$1,949
• − Management: −$1,949
• − HOA: −$10,104
• − Depreciation: −$436
• Taxable income: $8,779
• Est. tax owed @ 24.0%: −$2,107
• After-tax cash flow: $5,787/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: Avondale School District
• NCES district ID: 2603690
• Math proficiency: 34% ▼ -8.00%
• Reading proficiency: 48% ▼ -4.00%
• Median HH income: $71,549
• Composite: 37.33/100
• National rank: #4442
• State rank: #162 of 540 in MI

Livability — Auburn Hills

• Score: 76/100
• State rank: #151
• US rank: #3766

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Auburn Hills, MI
• County: Oakland County · 1,009,092 people
• City population: 24,514
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 24,514
• Household income: $85,190
• Rent vs Own: 48.3% rent · 51.7% own
• Severe rent burden: 986.0

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 56% Asian 15% Black 11% Hispanic / Latino 11% Two or more races 11%
• Hispanic origin (detail): Mexican 7% Puerto Rican 2%
• Common ancestry: Romanian 6% Slovak 2% Lithuanian 2%
• Foreign-born: 19% · Canada, China, Jamaica
• Languages at home: 76% English-only · Spanish 8% Other Indo-European 6% Other Asian/Pacific 4%

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: ▼ -298.32%
• Current HPI: 178.7685
• Rent YoY: ▼ -2.27%
• 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

-40.0% since first listed

8 events — show timeline

• 2026-06-16 Pending — MiRealSource-MiMLS
• 2026-06-16 Pending — REALCOMP
• 2026-05-27 Price Changed $15,000 REALCOMP
• 2026-05-26 Price Changed $15,000 MiRealSource-MiMLS
• 2026-05-15 Price Changed $20,000 MiRealSource-MiMLS
• 2026-05-15 Price Changed $20,000 REALCOMP
• 2026-05-07 Listed $25,000 REALCOMP
• 2026-05-07 Listed $25,000 MiRealSource-MiMLS