7386 Woodlore Dr

West Bloomfield, MI 48323 1390

$599,900F

4 bd · 3.5 ba · 4,820 sqft · Built 1994 · SingleFamily · Coming Soon · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,382/mo
• Mortgage (P&I): −$3,146
• Tax + insurance: −$941
• HOA: −$0
• Vac / Maint / Mgmt: −$290
• Net cashflow: $-2,995/mo
• Annual: $-35,942/yr
• Cap rate: 0.30%
• Cash-on-cash: -21.40%
• DSCR: 0.05
• 1% rule: 0.23%
• Cash to close: $167,972

Investor read

• This is a 4-bed/3.5-bath single-family listed at $600k.
• At list price, monthly cash flow is $-3k ($-36k/yr) — negative.
• To cash-flow at today's rent, offer at most $158k (73.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $138k (77.0% below list).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $138k (77.0% below list) — sets the bar for 1% rule.
• In year one you build about $22k of equity ($4k loan paydown + $18k appreciation (3.0% local appreciation)).
• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• Walled Lake Consolidated Schools (suburban): math 52% / reading 60% proficiency, ranked #58 of 540 in MI (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: 1 active listings in the ZIP; 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.
• Current owner paid $445k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• By year 2, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• 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.