326 Basket Br

Oxford, MI 48371

$62,500C+

3 bd · 2.0 ba · 1,600 sqft · Built 2001 · SingleFamily · Active · 24 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,344/mo
• Mortgage (P&I): −$328
• Tax + insurance: −$104
• HOA: −$0
• Vac / Maint / Mgmt: −$282
• Net cashflow: $630/mo
• Annual: $7,555/yr
• Cap rate: 18.38%
• Cash-on-cash: 43.17%
• DSCR: 2.92
• 1% rule: 2.15%
• Cash to close: $17,500

Investor read

• This is a 3-bed/2.0-bath single-family listed at $62k. Condition is rated fair.
• At list price, monthly cash flow is $630 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $62k).
• It's been on market 24 days — a 2% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $62k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $432 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#136 in MI, #3,338 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Oxford Community Schools (suburban): math 42% / reading 58% proficiency, ranked #82 of 540 in MI (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Leonard Elementary School (math 37% / reading 57%, grade D-, #433 of 1,397 statewide, top 34%, 272 students, 30% FRL); Oxford Middle School (math 41% / reading 59%, grade C, #117 of 493 statewide, top 25%, 963 students, 26% FRL); Oxford High School (math 38% / reading 65%, grade D+, #140 of 713 statewide, top 20%, 1,690 students, 27% FRL).
• Market conditions: 136 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 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.
• 5 sale attempts 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 18.4% vs local median 1.4% in Oxford — 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.
• This rent is only 14% of the median local income ($111k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-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?
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: kitchen cabinets — dated and in need of replacement
• Moderate: bathroom fixtures — dated and in need of replacement
• Minor: exterior siding — some discoloration