182 Summit St · Pontiac, MI 48342

$130,000

2 bd · 1.0 ba · 1,677 sqft · SingleFamily public records · 2 Days on market

Built 1945 10,411 sqft lot Est $151k · 14% under

---

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 +28.3/30.0
• ARV discount +13.7/15.0
• DSCR +10.0/10.0
• 1% rule +7.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity for homeowners and investors alike! This solid brick ranch offers 2 bedrooms, 1 full bath, 1 half bath, and 857 square feet of main-level living, plus a partially finished basement that adds valuable flex space and future potential. The lower level features two additional rooms that could be used as a home office, gym, guest space, recreation area, or possible 3rd and 4th bedroom. Whether you're a first-time buyer looking for an affordable home with room to grow or an investor searching for a value-add opportunity, this property checks the boxes. The home also includes a 2-car garage, a functional layout, and outdoor space ideal for entertaining, gardening, or future improvements. Conveniently located near schools, parks, shopping, and major roadways, this home offers strong potential for both owner-occupants and savvy investors. Don't miss your chance to make this property yours. Schedule your private showing today!

Key facts

• Outdoor space
• Solid brick ranch
• Conveniently located

Tags

• SOLID BRICK RANCH
• PARTIALLY FINISHED BASEMENT
• HOME OFFICE
• OUTDOOR SPACE
• CONVENIENTLY LOCATED

Property features AI

Finance

• Financial info: Tax year 2025

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water
• Home design: Ranch-style single-family home; Built in 1945; One story
• Construction: Brick construction; Partial basement
• Exterior features: Brick exterior; Asphalt roof; Lot about 0.24 acres; Public water

Interior

• Kitchen: Kitchen (9 x 9)
• Bedrooms: Primary bedroom (10 x 9); Second bedroom (9 x 9)
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating; Central cooling
• Interior features: Five total rooms; Partial basement
• Laundry & utility: Dedicated laundry room (13 x 9)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $416 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Cap rate 10.1% vs local median 6.7% in Pontiac — 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 64/100 on livability (#499 in MI) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: health & safety D, schools F, crime F.
• Pontiac City School District (urban): math 8% / reading 17% proficiency, ranked #514 of 540 in MI (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 81% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 87 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $899 of loan paydown is wiped out by about $4k 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 $36k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 11 sale attempts since 16y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $4k; list at $130k implies a 2959% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $130,000

Questions for the listing agent

1. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is F 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?
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: 1.23% ✓
• Cap rate: 10.13%
• Cash-on-cash: 13.71%
• DSCR: 1.61
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $150,930
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
68 Kimball St	0.32mi	3/2.0 (+1)	1,564 (-7%)	3mo	$141,000	$90	62
233 Baldwin Ave	0.34mi	3/2.0 (+1)	1,817 (+8%)	3mo	$50,000	$28	59
103 W Tennyson Ave	0.67mi	2/1.0	1,710 (+2%)	12mo	$145,000	$85	55
320 Cesar E Chavez Ave	0.52mi	3/2.0 (+1)	1,530 (-9%)	1mo	$170,000	$111	51
50 Lewis St	0.71mi	3/1.0 (+1)	1,614 (-4%)	10mo	$62,500	$39	48
793 Orlando Ave	0.71mi	3/2.0 (+1)	1,802 (+8%)	7mo	$149,999	$83	40
102 Cadillac St	0.30mi	3/1.5 (+1)	1,453 (-13%)	23mo	$158,000	$109	38
752 Pensacola Ave	0.61mi	3/2.5 (+1)	1,567 (-7%)	14mo	$254,900	$163	38
20 Lewis St	0.66mi	3/1.5 (+1)	1,575 (-6%)	21mo	$126,500	$80	35
998 Dewey St	0.74mi	3/2.0 (+1)	1,498 (-11%)	6mo	$138,000	$92	34
922 Stanley Ave	0.63mi	3/2.0 (+1)	1,776 (+6%)	22mo	$171,000	$96	34
292 N Cass Ave	0.68mi	3/2.0 (+1)	1,494 (-11%)	18mo	$73,500	$49	26

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.9%
• Equity multiple: 1.15×
• Total profit: $5,414
• Equity at exit: $19,383

10-year hold

• IRR: 13.4%
• Equity multiple: 2.07×
• Total profit: $38,786
• Equity at exit: $11,240

Cash invested: $36,400 (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 48342

• Home prices YoY: -33.8%
• Active inventory: 87
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,595 high
• Mortgage (P&I): −$682
• Tax from tax record: −$109 /mo · $1,304/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $416

Break-even live

Break-even rent $1,069

Max offer price $130,000

Occupancy floor 69%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
90 Marquette St Pontiac, MI	3.0	1.0	1886	$1,800	$0.95	43d	1	0.89mi
49 Oakhill St Pontiac, MI	3.0	1.0	1200	$1,575	$1.31	24d	1	1.07mi
264 Nelson St Pontiac, MI	3.0	1.0	1478	$1,590	$1.08	43d	1	1.10mi
223 Tucker St Pontiac, MI	2.0	2.5	1295	$1,700	$1.31	17d	1	1.17mi
60 Waldo St Pontiac, MI	3.0	1.0	1100	$1,500	$1.36	4d	1	1.33mi
23 Henry Clay Ave Unit 1 Pontiac, MI	3.0	1.0	1200	$1,450	$1.21	17d	1	1.37mi
136 W Princeton Ave Pontiac, MI	3.0	1.0	1050	$1,395	$1.33	19d	1	1.42mi
188 Vernon Dr Pontiac, MI	3.0	1.0	1100	$1,500	$1.36	24d	1	1.45mi

Listing history 3 events

1. 2026-06-18
   days on market $130,000 Active 2 DOM
2. 2026-06-16
   remarks 699-char remark

   Show marketing remark (948 chars)

   Great opportunity for homeowners and investors alike! This solid brick ranch offers 2 bedrooms, 1 full bath, 1 half bath, and 857 square feet of main-level living, plus a partially finished basement that adds valuable flex space and future potential. The lower level features two additional rooms that could be used as a home office, gym, guest space, recreation area, or possible 3rd and 4th bedroom. Whether you're a first-time buyer looking for an affordable home with room to grow or an investor searching for a value-add opportunity, this property checks the boxes. The home also includes a 2-car garage, a functional layout, and outdoor space ideal for entertaining, gardening, or future improvements. Conveniently located near schools, parks, shopping, and major roadways, this home offers strong potential for both owner-occupants and savvy investors. Don't miss your chance to make this property yours. Schedule your private showing today!

3. 2026-06-16
   listed $130,000 Active 1 DOM

   Show marketing remark (948 chars)

   Great opportunity for homeowners and investors alike! This solid brick ranch offers 2 bedrooms, 1 full bath, 1 half bath, and 857 square feet of main-level living, plus a partially finished basement that adds valuable flex space and future potential. The lower level features two additional rooms that could be used as a home office, gym, guest space, recreation area, or possible 3rd and 4th bedroom. Whether you're a first-time buyer looking for an affordable home with room to grow or an investor searching for a value-add opportunity, this property checks the boxes. The home also includes a 2-car garage, a functional layout, and outdoor space ideal for entertaining, gardening, or future improvements. Conveniently located near schools, parks, shopping, and major roadways, this home offers strong potential for both owner-occupants and savvy investors. Don't miss your chance to make this property yours. Schedule your private showing today!

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

Tax reassessment forecast MI · Partial reset (capped growth)

• Current annual tax: $1,304 · $109/mo
• Projected year-2 tax: $1,653 · $138/mo
• Expected delta: +$349/yr (+$29/mo · 26.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,146
• − Mortgage interest: −$7,282
• − Property taxes: −$1,304
• − Insurance: −$650
• − Repairs & maintenance: −$1,532
• − Management: −$1,532
• − Depreciation: −$3,782
• Taxable income: $3,065
• Est. tax owed @ 24.0%: −$736
• After-tax cash flow: $4,255/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: Pontiac City School District
• NCES district ID: 2628740
• Math proficiency: 8% ▼ -5.00%
• Reading proficiency: 17% ▼ -3.00%
• Median HH income: $33,888
• Composite: 10.12/100
• National rank: #9802
• State rank: #514 of 540 in MI

Livability — Pontiac

• Score: 64/100
• State rank: #499
• US rank: #14703

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pontiac, MI
• City population: 44,593
• Population (ZIP): 17,227

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 0.62)
• Race & ethnicity: Black 57% Hispanic / Latino 19% White 13% Two or more races 13% Asian 4%
• Hispanic origin (detail): Mexican 11% Puerto Rican 2%
• Common ancestry: Romanian 1% Lithuanian 1% Italian 1%
• Foreign-born: 10% · Canada, Vietnam
• Languages at home: 79% English-only · Spanish 15% Other Asian/Pacific 4% Other Indo-European 1%

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: ▼ -109.18%
• Current HPI: 214.3258
• 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

+66.7% since first listed

20 events — show timeline

• 2026-06-16 Listed $130,000 REALCOMP
• 2026-06-16 Listed $130,000 SW Michigan MLS
• 2026-06-16 Listed $130,000 MiRealSource-MiMLS
• 2025-09-08 Listing Removed — MiRealSource-MiMLS
• 2025-04-29 Listed $119,000 REALCOMP
• 2025-04-29 Listed $119,000 MiRealSource-MiMLS
• 2014-06-05 Listing Removed — REALCOMP
• 2013-12-04 Listing Removed — MiRealSource-MiMLS
• 2013-06-12 Listing Removed — REALCOMP
• 2013-06-12 Listing Removed — MiRealSource-MiMLS
• 2013-06-12 Listed $15,000 MiRealSource-MiMLS
• 2013-06-12 Listed $15,000 REALCOMP
• 2013-05-14 Listed $15,000 REALCOMP
• 2013-05-14 Listed $15,000 MiRealSource-MiMLS
• 2010-07-08 Sold (MLS) $4,250 REALCOMP
• 2010-07-08 Sold (MLS) $4,250 MiRealSource-MiMLS
• 2010-06-22 Listing Removed — MiRealSource-MiMLS
• 2010-05-21 Listed $6,930 REALCOMP
• 2010-05-21 Listed $6,930 MiRealSource-MiMLS
• 2000-11-08 Sold (Public Records) $78,000 Public Records

Property tax history

+3.9%/yr

Latest (2025): $1,304 · +62.4% YoY. Source: county tax records.