22 Steinbaugh Ct · Pontiac, MI 48341

$119,900

3 bd · 1.5 ba · 1,366 sqft · SingleFamily public records · 158 Days on market

Built 1910 3,485 sqft lot $88/sqft · 6% below area Est $127k · 6% under

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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 +29.4/30.0
• ARV discount +10.1/15.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• 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

Key facts

• 3,485 sq ft lot
• Garage
• Built 1910

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $426 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.6% 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: 100 active listings in the ZIP; 18 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).
• This rent runs 35% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 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 $34k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 158 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 21y 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 $85k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 158 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.26% ✓
• Cap rate: 10.55%
• Cash-on-cash: 15.22%
• DSCR: 1.68
• GRM: 6.6

CMA / ARV

• ARV (median comp): $127,233
• List price: $119,900
• Delta: -5.76%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
105 Augusta Ave	0.04mi	3/1.5	1,231 (-10%)	3mo	$114,000	$93	79
167 Mark Ave	0.44mi	3/2.0	1,415 (+4%)	4mo	$162,000	$114	68
63 Mark Ave	0.48mi	3/1.0	1,444 (+6%)	1mo	$61,000	$42	66
143 Thorpe St	0.37mi	3/1.0	1,247 (-9%)	2mo	$174,900	$140	65
93 Poplar Ave	0.71mi	3/1.5	1,344 (-2%)	1mo	$191,500	$142	63
140 W Howard St	0.51mi	3/1.5	1,288 (-6%)	5mo	$105,000	$82	63
73 Poplar Ave	0.74mi	3/2.5	1,367 (+0%)	3mo	$130,000	$95	59
69 Lincoln St	0.35mi	3/2.0	1,211 (-11%)	7mo	$175,000	$145	57
27 Crawford St	0.66mi	3/1.0	1,302 (-5%)	4mo	$94,000	$72	56
75 Green St	0.48mi	3/1.0	1,218 (-11%)	2mo	$113,000	$93	56
320 Cesar E Chavez Ave	0.47mi	3/2.0	1,530 (+12%)	1mo	$170,000	$111	55
196 Mohawk Rd	0.74mi	4/2.0 (+1)	1,514 (+11%)	5mo	$97,900	$65	36

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: 5.9%
• Equity multiple: 1.23×
• Total profit: $7,669
• Equity at exit: $17,877

10-year hold

• IRR: 15.3%
• Equity multiple: 2.24×
• Total profit: $41,524
• Equity at exit: $10,367

Cash invested: $33,572 (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 48341

• Active inventory: 100
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,506 high
• Mortgage (P&I): −$629
• Tax from tax record: −$85 /mo · $1,019/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $426

Break-even live

Break-even rent $967

Max offer price $119,900

Occupancy floor 67%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23 Henry Clay Ave Unit 1 Pontiac, MI	3.0	1.0	1200	$1,450	$1.21	17d	1	0.41mi
38 Spokane Dr Pontiac, MI	2.0	1.0	1000	$1,000	$1.00	43d	1	0.61mi
60 Waldo St Pontiac, MI	3.0	1.0	1100	$1,500	$1.36	5d	1	0.68mi
74 E Iroquois Rd Pontiac, MI	3.0	1.0	1661	$1,695	$1.02	24d	1	0.76mi
223 Tucker St Pontiac, MI	2.0	2.5	1295	$1,700	$1.31	17d	1	0.79mi
99 Chippewa Rd Pontiac, MI	4.0	1.0	1315	$1,750	$1.33	24d	1	0.82mi
49 Oakhill St Pontiac, MI	3.0	1.0	1200	$1,575	$1.31	24d	1	0.96mi
4000 Winston Dr Pontiac, MI	2.0	1.5	1032	$515	$0.50	2d	1	1.00mi
5 Wenonah Dr Pontiac, MI	4.0	1.5	1749	$2,000	$1.14	43d	1	1.00mi
65 Whitfield St Pontiac, MI	3.0	1.0	924	$1,175	$1.27	43d	1	1.06mi
949 Boston Ave Unit 1 Waterford Township, MI	2.0	1.0	1220	$1,150	$0.94	21d	1	1.17mi
949 Boston Ave Waterford Twp, MI	2.0	1.0	1320	$1,150	$0.87	43d	1	1.17mi
27 Sylvan Pontiac, MI	2.0	1.5	1370	$1,175	$0.86	12d	1	1.19mi
995 Lakeview St Waterford, MI	2.0	1.5	884	$1,375	$1.56	24d	1	1.32mi
249 W Wilson Ave Unit 1 Pontiac, MI	3.0	1.0	900	$1,540	$1.71	43d	1	1.40mi
68 N Shirley St Pontiac, MI	3.0	1.0	950	$1,395	$1.47	17d	1	1.41mi
38 N Shirley St Pontiac, MI	3.0	1.0	1174	$1,425	$1.21	43d	1	1.42mi
264 Nelson St Pontiac, MI	3.0	1.0	1478	$1,590	$1.08	43d	1	1.45mi

Listing history 38 events

1. 2026-06-18
   days on market $119,900 Active 158 DOM
2. 2026-06-17
   days on market $119,900 Active 157 DOM
3. 2026-06-16
   days on market $119,900 Active 156 DOM
4. 2026-06-15
   days on market $119,900 Active 155 DOM
5. 2026-06-13
   days on market $119,900 Active 153 DOM
6. 2026-06-13
   days on market $119,900 Active 152 DOM
7. 2026-06-09
   days on market $119,900 Active 149 DOM
8. 2026-06-08
   days on market $119,900 Active 148 DOM
9. 2026-06-07
   days on market $119,900 Active 147 DOM
10. 2026-06-04
    days on market $119,900 Active 144 DOM
11. 2026-06-03
    days on market $119,900 Active 143 DOM
12. 2026-06-02
    days on market $119,900 Active 142 DOM
13. 2026-06-01
    days on market $119,900 Active 141 DOM
14. 2026-05-31
    days on market $119,900 Active 140 DOM
15. 2026-01-11
    listed $119,900 Active
16. 2026-01-11
    listed $119,900 Active
17. 2022-04-26
    soldstatus $85,000
18. 2022-03-21
    soldstatus $85,000 Sold
19. 2022-03-21
    soldstatus $85,000 Closed
20. 2022-02-01
    status Pending
21. 2022-02-01
    status Pending
22. 2022-01-20
    historical Accepting Backup Offers
23. 2022-01-20
    historical Accepting Backup Offers
24. 2022-01-17
    status Active
25. 2022-01-17
    status Active
26. 2022-01-08
    status Pending
27. 2022-01-08
    status Pending
28. 2021-12-22
    historical Accepting Backup Offers
29. 2021-12-22
    historical Accepting Backup Offers
30. 2021-12-20
    status Active
31. 2021-12-17
    historical Accepting Backup Offers
32. 2021-11-29
    listed $89,000 Active
33. 2021-11-29
    listed $89,000 Active
34. 2021-11-24
    historical $89,000
35. 2021-11-24
    historical $89,000
36. 2005-12-13
    soldstatus $37,000
37. 2005-11-14
    soldstatus $37,000
38. 2005-10-11
    listed $40,950

ⓘ 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: $1,019 · $85/mo
• Projected year-2 tax: $1,433 · $119/mo
• Expected delta: +$414/yr (+$34/mo · 40.6%)

ⓘ 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: $18,067
• − Mortgage interest: −$6,716
• − Property taxes: −$1,019
• − Insurance: −$600
• − Repairs & maintenance: −$1,445
• − Management: −$1,445
• − Depreciation: −$3,488
• Taxable income: $3,353
• Est. tax owed @ 24.0%: −$805
• After-tax cash flow: $4,304/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
• County: Oakland County · 1,009,092 people
• City population: 44,593
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 18,924
• Household income: $51,390
• Rent vs Own: 46.6% rent · 53.4% own
• Severe rent burden: 833.0

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 0.61)
• Race & ethnicity: Black 57% White 22% Hispanic / Latino 12% Two or more races 11% Asian 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2%
• Common ancestry: Slovak 2% Romanian 1% Swiss 1%
• Foreign-born: 10% · Canada
• Languages at home: 86% English-only · Spanish 9% Other Indo-European 1% Other Asian/Pacific 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: ▼ -204.11%
• Current HPI: 257.8941
• Rent YoY: —
• Metro: Detroit-Warren-Dearborn, MI
• 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

+192.8% since first listed

24 events — show timeline

• 2026-01-11 Listed $119,900 REALCOMP
• 2026-01-11 Listed $119,900 MiRealSource-MiMLS
• 2022-04-26 Sold (Public Records) $85,000 Public Records
• 2022-03-21 Sold (MLS) $85,000 MiRealSource-MiMLS
• 2022-03-21 Sold (MLS) $85,000 REALCOMP
• 2022-02-01 Pending — MiRealSource-MiMLS
• 2022-02-01 Pending — REALCOMP
• 2022-01-20 Contingent — MiRealSource-MiMLS
• 2022-01-20 Contingent — REALCOMP
• 2022-01-17 Relisted — MiRealSource-MiMLS
• 2022-01-17 Relisted — REALCOMP
• 2022-01-08 Pending — MiRealSource-MiMLS
• 2022-01-08 Pending — REALCOMP
• 2021-12-22 Contingent — MiRealSource-MiMLS
• 2021-12-22 Contingent — REALCOMP
• 2021-12-20 Relisted — REALCOMP
• 2021-12-17 Contingent — REALCOMP
• 2021-11-29 Listed $89,000 MiRealSource-MiMLS
• 2021-11-29 Listed $89,000 REALCOMP
• 2021-11-24 Coming Soon $89,000 MiRealSource-MiMLS
• 2021-11-24 Coming Soon $89,000 REALCOMP
• 2005-12-13 Sold (Public Records) $37,000 Public Records
• 2005-11-14 Sold (MLS) $37,000 REALCOMP
• 2005-10-11 Listed $40,950 REALCOMP

Property tax history

+3.6%/yr

Latest (2025): $1,019 · -8.6% YoY. Source: county tax records.