1341 Mariga St · Novi, MI 48374

$42,000

3 bd · 2.0 ba · 1,056 sqft · SingleFamily · 39 Days on market

Built 2015 Average condition 1,056 sqft lot $40/sqft · 25% below area Est $56k · 25% under $757/mo HOA · 46% of rent ↓ 30% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.7/10.0
• Livability +4.3/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this well-maintained 3-bedroom, 2-bath home located in Old Dutch Farms! Step inside to find a spacious layout with a bright living area, a galley-style kitchen with ample cabinet and counter space, and a dedicated dining area. The primary suite features a private bath and a walk-in closet, while two additional bedrooms provide plenty of space for family, guests, or a home office. Conveniently situated near major highways, shopping, and dining, this home offers both comfort and accessibility. This home is located in Old Dutch Farms Manufactured Home Community on a leased lot. Don't miss your opportunity to make this home yours!

Key facts

• Galley-style kitchen
• Private bath
• Walk-in closet

Tags

• GALLEY-STYLE KITCHEN
• DEDICATED DINING AREA
• PRIVATE BATH
• WALK-IN CLOSET

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $42k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $241 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $42k).
• Recommended offer: $41k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.2% vs local median 2.8% in Novi — 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 86/100 on livability (#20 in MI, #377 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, employment A+; Watch: commute F.
• 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: 74 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $290 of loan paydown is wiped out by about $1k 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 + 3.0% rent growth), your $12k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($41k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $18k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 46% of rent.

Recommended offer $40,740 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 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 A-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?
5. 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.
6. 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.
7. 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: 3.88% ✓
• Cap rate: 13.17%
• Cash-on-cash: 24.58%
• DSCR: 2.09
• GRM: 2.1

CMA / ARV

• ARV (median comp): $56,195
• List price: $42,000
• Delta: -25.26%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 18.7%
• Equity multiple: 1.77×
• Total profit: $9,023
• Equity at exit: $6,262

10-year hold

• IRR: 27.6%
• Equity multiple: 3.52×
• Total profit: $29,599
• Equity at exit: $3,631

Cash invested: $11,760 (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 48374

• Active inventory: 74
• Price-to-rent: 2.1×

Monthly cashflow live

• Estimated rent: $1,630 medium
• Mortgage (P&I): −$220
• Tax est. 1.5%: −$52 /mo · $630/yr
• Insurance: −$18
• HOA: −$757
• Vacancy / Maint / Mgmt: −$342
• Net cashflow: $241

Break-even live

Break-even rent $1,326

Max offer price $42,000

Occupancy floor 80%

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: $10,500
• Closing costs: $1,260
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
27000 Napier Rd Novi, MI	2.0–4.0	2.0	1148	$1,594	$1.39	2d	1	0.15mi
27059 Meadowood Dr Wixom, MI	1.0–3.0	1.0–2.0	950	$1,819	$1.91	2d	4	0.78mi

HOA detail

• Monthly dues: $757 · $9,084/yr

Listing history 6 events

1. 2026-05-06
   price $42,000 645-char remark

   Show marketing remark (645 chars)

   Welcome to this well-maintained 3-bedroom, 2-bath home located in Old Dutch Farms! Step inside to find a spacious layout with a bright living area, a galley-style kitchen with ample cabinet and counter space, and a dedicated dining area. The primary suite features a private bath and a walk-in closet, while two additional bedrooms provide plenty of space for family, guests, or a home office. Conveniently situated near major highways, shopping, and dining, this home offers both comfort and accessibility. This home is located in Old Dutch Farms Manufactured Home Community on a leased lot. Don't miss your opportunity to make this home yours!

2. 2026-05-05
   price $42,000 651-char remark

   Show marketing remark (651 chars)

   Welcome to this well-maintained 3-bedroom, 2-bath home located in Old Dutch Farms! Step inside to find a spacious layout with a bright living area, a galley-style kitchen with ample cabinet and counter space, and a dedicated dining area. The primary suite features a private bath and a walk-in closet, while two additional bedrooms provide plenty of space for family, guests, or a home office. Conveniently situated near major highways, shopping, and dining, this home offers both comfort and accessibility. This home is located in Old Dutch Farms Manufactured Home Community on a leased lot. Don’t miss your opportunity to make this home yours!

3. 2026-04-25
   price $49,900 645-char remark

   Show marketing remark (645 chars)

   Welcome to this well-maintained 3-bedroom, 2-bath home located in Old Dutch Farms! Step inside to find a spacious layout with a bright living area, a galley-style kitchen with ample cabinet and counter space, and a dedicated dining area. The primary suite features a private bath and a walk-in closet, while two additional bedrooms provide plenty of space for family, guests, or a home office. Conveniently situated near major highways, shopping, and dining, this home offers both comfort and accessibility. This home is located in Old Dutch Farms Manufactured Home Community on a leased lot. Don't miss your opportunity to make this home yours!

4. 2026-04-24
   price $49,900 651-char remark

   Show marketing remark (651 chars)

   Welcome to this well-maintained 3-bedroom, 2-bath home located in Old Dutch Farms! Step inside to find a spacious layout with a bright living area, a galley-style kitchen with ample cabinet and counter space, and a dedicated dining area. The primary suite features a private bath and a walk-in closet, while two additional bedrooms provide plenty of space for family, guests, or a home office. Conveniently situated near major highways, shopping, and dining, this home offers both comfort and accessibility. This home is located in Old Dutch Farms Manufactured Home Community on a leased lot. Don’t miss your opportunity to make this home yours!

5. 2026-04-17
   listed $59,900 Active 645-char remark

   Show marketing remark (651 chars)

   Welcome to this well-maintained 3-bedroom, 2-bath home located in Old Dutch Farms! Step inside to find a spacious layout with a bright living area, a galley-style kitchen with ample cabinet and counter space, and a dedicated dining area. The primary suite features a private bath and a walk-in closet, while two additional bedrooms provide plenty of space for family, guests, or a home office. Conveniently situated near major highways, shopping, and dining, this home offers both comfort and accessibility. This home is located in Old Dutch Farms Manufactured Home Community on a leased lot. Don’t miss your opportunity to make this home yours!

6. 2026-04-17
   listed $59,900 Active 651-char remark

   Show marketing remark (651 chars)

   Welcome to this well-maintained 3-bedroom, 2-bath home located in Old Dutch Farms! Step inside to find a spacious layout with a bright living area, a galley-style kitchen with ample cabinet and counter space, and a dedicated dining area. The primary suite features a private bath and a walk-in closet, while two additional bedrooms provide plenty of space for family, guests, or a home office. Conveniently situated near major highways, shopping, and dining, this home offers both comfort and accessibility. This home is located in Old Dutch Farms Manufactured Home Community on a leased lot. Don’t miss your opportunity to make this home yours!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,566
• − Mortgage interest: −$2,353
• − Property taxes: −$630
• − Insurance: −$210
• − Repairs & maintenance: −$1,565
• − Management: −$1,565
• − HOA: −$9,084
• − Depreciation: −$1,222
• Taxable income: $2,937
• Est. tax owed @ 24.0%: −$705
• After-tax cash flow: $2,185/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.

Condition & rehab AI · 12 photos

Average 55/100 Cosmetic rehab

This home is in average condition with some cosmetic updates needed to improve its resale and rental value. The kitchen and bathroom are in need of updates, and the exterior siding and interior walls could use some attention.

Repairs flagged

• Moderate kitchen cabinets — dated and worn
• Moderate kitchen countertops — dated and worn
• Moderate kitchen appliances — dated and worn
• Moderate bathroom fixtures — dated and worn
• Moderate bathroom shower curtain — dated and worn

Value-add opportunities

• Both update kitchen cabinets and countertops — modernizing the kitchen would appeal to both buyers and renters
• Both update bathroom fixtures and shower curtain — modernizing the bathroom would appeal to both buyers and renters
• Both paint interior walls — fresh paint would improve the home's curb appeal and interior aesthetics
• Both repair and paint exterior siding — a fresh exterior would improve the home's curb appeal and increase its value
• Both replace carpet with hardwood or tile — hardwood or tile flooring would increase the home's value and appeal to a wider range of buyers and renters

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and worn	Moderate	$3,000–15,000
kitchen countertops · dated and worn	Moderate	$3,000–15,000
kitchen appliances · dated and worn	Moderate	$3,000–15,000
bathroom fixtures · dated and worn	Moderate	$3,000–15,000
bathroom shower curtain · dated and worn	Moderate	$3,000–15,000
Total estimated repair cost · 5 items		$15,000–75,000

Value-add ROI direction

• Both update kitchen cabinets and countertops — modernizing the kitchen would appeal to both buyers and renters ↑
• Both update bathroom fixtures and shower curtain — modernizing the bathroom would appeal to both buyers and renters ↑
• Both paint interior walls — fresh paint would improve the home's curb appeal and interior aesthetics ↑
• Both repair and paint exterior siding — a fresh exterior would improve the home's curb appeal and increase its value ↑
• Both replace carpet with hardwood or tile — hardwood or tile flooring would increase the home's value and appeal to a wider range of buyers and renters ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Novi

• Score: 86/100
• State rank: #20
• US rank: #377

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Novi, MI
• City population: 43,845
• Population (ZIP): 17,828

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 0.56)
• Race & ethnicity: White 60% Asian 28% Two or more races 5% Hispanic / Latino 4% Black 4%
• Common ancestry: Romanian 11% Lithuanian 4% Italian 2%
• Foreign-born: 26% · Canada, China, South Korea
• Languages at home: 68% English-only · Other Asian/Pacific 11% Other Indo-European 7% Chinese 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: ▼ -161.85%
• Current HPI: 175.0012
• Rent YoY: —
• Metro: —
• 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

-29.9% since first listed

6 events — show timeline

• 2026-05-06 Price Changed $42,000 MiRealSource-MiMLS
• 2026-05-05 Price Changed $42,000 REALCOMP
• 2026-04-25 Price Changed $49,900 MiRealSource-MiMLS
• 2026-04-24 Price Changed $49,900 REALCOMP
• 2026-04-17 Listed $59,900 REALCOMP
• 2026-04-17 Listed $59,900 MiRealSource-MiMLS