265 Norman Dr #893 · Highland, MI 48357

$108,995

3 bd · 2.0 ba · 1,344 sqft · Manufactured · 38 Days on market

Built 2026 Good condition

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Why this score? — see what drove the C+ 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 +26.8/30.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Schools +4.4/10.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this brand new very stylish 3 bedroom, 2 bathroom home with lots of room. The kitchen has multiple cabinets for lots of storage. It also has a beautiful long island for entertaining guest for game nights, or just sit down and eat dinner together as a family. The master bedroom has a walk in closet, with a master bathroom. 2 additional bedrooms with a guest bathroom as well! Homes are going fast, apply now!

Key facts

• Long island
• Multiple cabinets
• Walk in closet

Tags

• MULTIPLE CABINETS
• LONG ISLAND
• WALK IN CLOSET

Property features AI

Finance

• Other: Status: Active; Listing last modified on 2026-05-11
• Financial info: List price $108,995

Exterior

• Home design: Spec home — Plan named 265 Norman Dr; Address: 265 Norman Dr #893, Highland, MI 48357
• Exterior features: Living area of 1344

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: 2 total bathrooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $109k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $299 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $109k).
• Recommended offer: $106k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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.
• Market conditions: 66 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 $753 of loan paydown is wiped out by about $3k 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 $31k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($106k) is reasonable based on typical stale-listing flexibility.

Recommended offer $105,725 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.22% ✓
• Cap rate: 9.58%
• Cash-on-cash: 11.74%
• DSCR: 1.52
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 1.2%
• Equity multiple: 1.05×
• Total profit: $1,380
• Equity at exit: $16,252

10-year hold

• IRR: 10.8%
• Equity multiple: 1.84×
• Total profit: $25,777
• Equity at exit: $9,424

Cash invested: $30,519 (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 48357

• Active inventory: 66
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,332 medium
• Mortgage (P&I): −$572
• Tax est. 1.5%: −$136 /mo · $1,635/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $299

Break-even live

Break-even rent $953

Max offer price $108,995

Occupancy floor 73%

Sensitivity live

Price	-10% $374	-5% $336	+0% $299	+5% $261	+10% $223
Rent	-10% $193	-5% $246	+0% $299	+5% $351	+10% $404
Rate	-1.0pp $354	-0.5pp $326	base $299	+0.5pp $270	+1.0pp $242

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: $27,249
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2377 N Milford Rd Highland Charter Twp, MI	2.0–3.0	2.0	1120	$1,349	$1.20	2d	1	0.42mi
1200 Highland Rd Highland, MI	3.0	2.0	974	$1,264	$1.30	2d	1	1.41mi

Listing history 15 events

1. 2026-06-18
   days on market $108,995 Active 38 DOM
2. 2026-06-17
   days on market $108,995 Active 37 DOM
3. 2026-06-16
   days on market $108,995 Active 36 DOM
4. 2026-06-15
   days on market $108,995 Active 35 DOM
5. 2026-06-13
   days on market $108,995 Active 33 DOM
6. 2026-06-13
   days on market $108,995 Active 32 DOM
7. 2026-06-09
   days on market $108,995 Active 29 DOM
8. 2026-06-08
   days on market $108,995 Active 28 DOM
9. 2026-06-07
   days on market $108,995 Active 27 DOM
10. 2026-06-04
    days on market $108,995 Active 24 DOM
11. 2026-06-03
    days on market $108,995 Active 23 DOM
12. 2026-06-02
    days on market $108,995 Active 22 DOM
13. 2026-06-01
    days on market $108,995 Active 21 DOM
14. 2026-05-31
    days on market $108,995 Active 20 DOM
15. 2026-05-11
    listed $108,995 Active 420-char remark

ⓘ 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: $15,978
• − Mortgage interest: −$6,105
• − Property taxes: −$1,635
• − Insurance: −$545
• − Repairs & maintenance: −$1,278
• − Management: −$1,278
• − Depreciation: −$3,171
• Taxable income: $1,966
• Est. tax owed @ 24.0%: −$472
• After-tax cash flow: $3,112/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 · 8 photos

Good 80/100 Cosmetic rehab

This brand new, stylish 3-bedroom, 2-bathroom home is move-in ready with modern finishes and ample storage. It offers a good condition score and has potential for further value increases through minor updates.

Value-add opportunities

• Both Painting the interior walls — Fresh paint can enhance the home's curb appeal and interior aesthetics.
• Both Updating the flooring — Hardwood flooring is durable and can increase the home's value.
• Both Upgrading the appliances — Modern appliances can attract more buyers and renters.
• Both Adding smart home features — Smart home features can increase the home's value and appeal to tech-savvy buyers and renters.
• Both Landscaping the front yard — A well-maintained front yard can enhance the home's curb appeal and attract more buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the interior walls — Fresh paint can enhance the home's curb appeal and interior aesthetics. ↑
• Both Updating the flooring — Hardwood flooring is durable and can increase the home's value. ↑
• Both Upgrading the appliances — Modern appliances can attract more buyers and renters. ↑
• Both Adding smart home features — Smart home features can increase the home's value and appeal to tech-savvy buyers and renters. ↑
• Both Landscaping the front yard — A well-maintained front yard can enhance the home's curb appeal and attract more 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: Huron Valley Schools
• NCES district ID: 2618990
• Math proficiency: 42% ▼ -8.00%
• Reading proficiency: 56% ▼ -3.00%
• Median HH income: $76,011
• Composite: 44.39/100
• National rank: #2815
• State rank: #87 of 540 in MI

Livability — Highland

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 8,523

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: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Black 1%
• Common ancestry: Romanian 11% Lithuanian 7% Slovak 4%
• Foreign-born: 2% · Canada

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: ▼ -291.58%
• Current HPI: 212.404
• 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