4158 Bickel St

Wixom, MI 48381

$14,900D+

2 bd · 1.0 ba · 980 sqft · Built 1995 · SingleFamily · Active · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,330/mo
• Mortgage (P&I): −$78
• Tax + insurance: −$25
• HOA: −$650
• Vac / Maint / Mgmt: −$279
• Net cashflow: $298/mo
• Annual: $3,576/yr
• Cap rate: 30.29%
• Cash-on-cash: 85.72%
• DSCR: 4.81
• 1% rule: 8.93%
• Cash to close: $4,172

Investor read

• This is a 2-bed/1.0-bath single-family listed at $15k.
• At list price, monthly cash flow is $298 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $15k).
• It's been on market 37 days — a 3% lower offer ($14k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $14k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $103 of loan paydown is wiped out by about $447 of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#185 in MI, #4,678 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, 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: Johnson Elementary School (math 37% / reading 42%, grade F, #606 of 1,397 statewide, top 48%, 397 students, 41% FRL); Oak Valley Middle School (math 44% / reading 59%, grade C, #102 of 493 statewide, top 21%, 492 students, 29% FRL); Milford High School (math 47% / reading 68%, grade C, #95 of 713 statewide, top 14%, 1,273 students, 28% FRL).
• Watch-outs: HOA is 49% of rent.
• Market conditions: 184 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 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.
• 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 30.3% vs local median 2.3% in Wixom — 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

• It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.