1576 Ocher St. St · Novi, MI 48374

$49,900

3 bd · 2.0 ba · 1,056 sqft · SingleFamily · 49 Days on market

Built 2016 Good condition 436 sqft lot $47/sqft · 11% below area Est $56k · 11% under $750/mo HOA · 46% of rent ↓ 17% 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 +12.4/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.7/10.0
• Livability +4.3/5.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this pristine 3-bedroom, 2-bathroom mobile home located in the highly desirable Dutch Farms community. This beautifully maintained home features a modern interior with a wide-open layout connecting the kitchen, living, and dining areas - perfect for both everyday living and entertaining. The spacious primary bedroom offers a comfortable retreat, while the separate laundry room adds convenience and functionality. Outside, you'll find a storage shed and ample parking space to accommodate your needs. Residents of Dutch Farms enjoy access to fantastic amenities, including a playground, dog park, clubhouse, and boat and RV storage. Don't miss your chance to own this move-in-ready home in a sought-after community!

Key facts

• Built 2016
• Listed 49 days

Property features AI

Finance

• Other: Property listed by Power House Group Realty
• HOA & community: Homeowners association with a $750 monthly fee

Exterior

• Parking: Driveway only; no garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One-story; Ground-level entry with steps
• Construction: Vinyl siding; Slab foundation; Built as residential single-family
• Exterior features: Paved road access; Lot approximately 40 x 100 (0.01 acres)

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Natural gas heating; Wall furnace; No central cooling
• Interior features: Three total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $50k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $206 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.3% 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 $345 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 $14k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (17%) 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 $48,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 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: 3.30% ✓
• Cap rate: 11.25%
• Cash-on-cash: 17.71%
• DSCR: 1.79
• GRM: 2.5

CMA / ARV

• ARV (median comp): $55,996
• List price: $49,900
• Delta: -10.89%
• 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: 10.0%
• Equity multiple: 1.40×
• Total profit: $5,531
• Equity at exit: $7,440

10-year hold

• IRR: 19.6%
• Equity multiple: 2.70×
• Total profit: $23,698
• Equity at exit: $4,314

Cash invested: $13,972 (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: 2.5×

Monthly cashflow live

• Estimated rent: $1,647 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $748/yr
• Insurance: −$21
• HOA: −$750
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $206

Break-even live

Break-even rent $1,386

Max offer price $49,900

Occupancy floor 82%

Sensitivity live

Price	-10% $241	-5% $223	+0% $206	+5% $189	+10% $172
Rent	-10% $76	-5% $141	+0% $206	+5% $271	+10% $336
Rate	-1.0pp $231	-0.5pp $219	base $206	+0.5pp $193	+1.0pp $180

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: $12,475
• Closing costs: $1,497
• 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	0d	1	0.25mi
27059 Meadowood Dr Wixom, MI	1.0–3.0	1.0–2.0	950	$1,819	$1.91	0d	4	0.80mi

HOA detail

• Monthly dues: $750 · $9,000/yr

Listing history 18 events

1. 2026-06-18
   days on market $49,900 Active 49 DOM
2. 2026-06-17
   days on market $49,900 Active 48 DOM
3. 2026-06-16
   days on market $49,900 Active 47 DOM
4. 2026-06-15
   days on market $49,900 Active 46 DOM
5. 2026-06-13
   days on market $49,900 Active 44 DOM
6. 2026-06-13
   days on market $49,900 Active 43 DOM
7. 2026-06-09
   days on market $49,900 Active 40 DOM
8. 2026-06-08
   days on market $49,900 Active 39 DOM
9. 2026-06-07
   days on market $49,900 Active 38 DOM
10. 2026-06-04
    days on market $49,900 Active 35 DOM
11. 2026-06-03
    days on market $49,900 Active 34 DOM

    Show marketing remark (728 chars)

    Welcome to this pristine 3-bedroom, 2-bathroom mobile home located in the highly desirable Dutch Farms community. This beautifully maintained home features a modern interior with a wide-open layout connecting the kitchen, living, and dining areas - perfect for both everyday living and entertaining. The spacious primary bedroom offers a comfortable retreat, while the separate laundry room adds convenience and functionality. Outside, you'll find a storage shed and ample parking space to accommodate your needs. Residents of Dutch Farms enjoy access to fantastic amenities, including a playground, dog park, clubhouse, and boat and RV storage. Don't miss your chance to own this move-in-ready home in a sought-after community!

12. 2026-06-02
    pricedays on market $49,900 Active 33 DOM
13. 2026-06-01
    days on market $54,900 Active 32 DOM
14. 2026-05-31
    days on market $54,900 Active 31 DOM
15. 2026-05-15
    price $54,900 728-char remark

    Show marketing remark (728 chars)

    Welcome to this pristine 3-bedroom, 2-bathroom mobile home located in the highly desirable Dutch Farms community. This beautifully maintained home features a modern interior with a wide-open layout connecting the kitchen, living, and dining areas - perfect for both everyday living and entertaining. The spacious primary bedroom offers a comfortable retreat, while the separate laundry room adds convenience and functionality. Outside, you'll find a storage shed and ample parking space to accommodate your needs. Residents of Dutch Farms enjoy access to fantastic amenities, including a playground, dog park, clubhouse, and boat and RV storage. Don't miss your chance to own this move-in-ready home in a sought-after community!

16. 2026-05-14
    price $54,900 744-char remark
17. 2026-04-30
    listed $59,900 Active 728-char remark

    Show marketing remark (728 chars)

    Welcome to this pristine 3-bedroom, 2-bathroom mobile home located in the highly desirable Dutch Farms community. This beautifully maintained home features a modern interior with a wide-open layout connecting the kitchen, living, and dining areas - perfect for both everyday living and entertaining. The spacious primary bedroom offers a comfortable retreat, while the separate laundry room adds convenience and functionality. Outside, you'll find a storage shed and ample parking space to accommodate your needs. Residents of Dutch Farms enjoy access to fantastic amenities, including a playground, dog park, clubhouse, and boat and RV storage. Don't miss your chance to own this move-in-ready home in a sought-after community!

18. 2026-04-30
    listed $59,900 Active 744-char remark

    Show marketing remark (728 chars)

    Welcome to this pristine 3-bedroom, 2-bathroom mobile home located in the highly desirable Dutch Farms community. This beautifully maintained home features a modern interior with a wide-open layout connecting the kitchen, living, and dining areas - perfect for both everyday living and entertaining. The spacious primary bedroom offers a comfortable retreat, while the separate laundry room adds convenience and functionality. Outside, you'll find a storage shed and ample parking space to accommodate your needs. Residents of Dutch Farms enjoy access to fantastic amenities, including a playground, dog park, clubhouse, and boat and RV storage. Don't miss your chance to own this move-in-ready home in a sought-after community!

ⓘ 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: $19,762
• − Mortgage interest: −$2,795
• − Property taxes: −$748
• − Insurance: −$250
• − Repairs & maintenance: −$1,581
• − Management: −$1,581
• − HOA: −$9,000
• − Depreciation: −$1,452
• Taxable income: $2,356
• Est. tax owed @ 24.0%: −$565
• After-tax cash flow: $1,909/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

Good 80/100 Cosmetic rehab

This well-maintained mobile home in Dutch Farms community is move-in ready with a good condition score and minimal repairs needed.

Value-add opportunities

• Both Paint the exterior siding — Fresh paint can enhance curb appeal and property value.
• Both Replace the carpet with hardwood flooring — Hardwood flooring is more durable and can increase the home's value.
• Both Install smart home devices — Smart home devices can improve convenience and add value to the property.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior siding — Fresh paint can enhance curb appeal and property value. ↑
• Both Replace the carpet with hardwood flooring — Hardwood flooring is more durable and can increase the home's value. ↑
• Both Install smart home devices — Smart home devices can improve convenience and add value to the property. ↑

ⓘ 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

-16.7% since first listed

6 events — show timeline

• 2026-06-03 Price Changed $49,900 MiRealSource-MiMLS
• 2026-06-02 Price Changed $49,900 REALCOMP
• 2026-05-15 Price Changed $54,900 MiRealSource-MiMLS
• 2026-05-14 Price Changed $54,900 REALCOMP
• 2026-04-30 Listed $59,900 REALCOMP
• 2026-04-30 Listed $59,900 MiRealSource-MiMLS