62 Newberry St · Pontiac, MI 48341

$150,000

9 bd · 3.0 ba · 3,143 sqft · SingleFamily public records · 48 Days on market

Built 1927 6,098 sqft lot

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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 +25.4/30.0
• DSCR +8.4/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• 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

Excellent investment opportunity in Pontiac! This multi-family property features three units, including one spacious 2-bedroom unit and two 1-bedroom units. Each unit offers solid potential but will require TLC and updates, making it perfect for investors or buyers looking to add value. With the right improvements, this property can generate strong rental income and long-term returns. Conveniently located near local amenities, shopping, and major roadways. Don't miss the chance to transform this property into a profitable asset!

Key facts

• Major roadways
• Local amenities
• Strong rental income

Tags

• INVESTMENT OPPORTUNITY
• MULTI-FAMILY PROPERTY
• STRONG RENTAL INCOME
• LOCAL AMENITIES
• MAJOR ROADWAYS

What this means for you Summary

Snapshot

• This is a 9-bed/3.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $344 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $146k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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; 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).
• This rent runs 44% 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 $1k 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.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.27% ✓
• Cap rate: 9.05%
• Cash-on-cash: 9.84%
• DSCR: 1.44
• GRM: 6.6

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: -1.4%
• Equity multiple: 0.95×
• Total profit: $-2,264
• Equity at exit: $22,365

10-year hold

• IRR: 8.3%
• Equity multiple: 1.64×
• Total profit: $26,702
• Equity at exit: $12,969

Cash invested: $42,000 (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: $1,904 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$311 /mo · $3,728/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $344

Break-even live

Break-even rent $1,468

Max offer price $150,000

Occupancy floor 77%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-16
   status Pending 534-char remark

   Show marketing remark (540 chars)

   Excellent investment opportunity in Pontiac! This multi-family property features three units, including one spacious 2-bedroom unit and two 1-bedroom units. Each unit offers solid potential but will require TLC and updates, making it perfect for investors or buyers looking to add value. With the right improvements, this property can generate strong rental income and long-term returns. Conveniently located near local amenities, shopping, and major roadways. Don’t miss the chance to transform this property into a profitable asset!

2. 2026-05-16
   status Pending 540-char remark

   Show marketing remark (540 chars)

   Excellent investment opportunity in Pontiac! This multi-family property features three units, including one spacious 2-bedroom unit and two 1-bedroom units. Each unit offers solid potential but will require TLC and updates, making it perfect for investors or buyers looking to add value. With the right improvements, this property can generate strong rental income and long-term returns. Conveniently located near local amenities, shopping, and major roadways. Don’t miss the chance to transform this property into a profitable asset!

3. 2026-03-30
   listed $150,000 Active 540-char remark

   Show marketing remark (540 chars)

   Excellent investment opportunity in Pontiac! This multi-family property features three units, including one spacious 2-bedroom unit and two 1-bedroom units. Each unit offers solid potential but will require TLC and updates, making it perfect for investors or buyers looking to add value. With the right improvements, this property can generate strong rental income and long-term returns. Conveniently located near local amenities, shopping, and major roadways. Don’t miss the chance to transform this property into a profitable asset!

4. 2026-03-29
   listed $150,000 Active 534-char remark

   Show marketing remark (534 chars)

   Excellent investment opportunity in Pontiac! This multi-family property features three units, including one spacious 2-bedroom unit and two 1-bedroom units. Each unit offers solid potential but will require TLC and updates, making it perfect for investors or buyers looking to add value. With the right improvements, this property can generate strong rental income and long-term returns. Conveniently located near local amenities, shopping, and major roadways. Don't miss the chance to transform this property into a profitable asset!

5. 2006-12-18
   soldstatus $133,000
6. 2001-04-24
   soldstatus $90,000

ⓘ 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: $3,728 · $311/mo
• Projected year-2 tax: $3,728 · $311/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $22,849
• − Mortgage interest: −$8,402
• − Property taxes: −$3,728
• − Insurance: −$750
• − Repairs & maintenance: −$1,828
• − Management: −$1,828
• − Depreciation: −$4,364
• Taxable income: $1,949
• Est. tax owed @ 24.0%: −$468
• After-tax cash flow: $3,666/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

+66.7% since first listed

6 events — show timeline

• 2026-05-16 Pending — MiRealSource-MiMLS
• 2026-05-16 Pending — REALCOMP
• 2026-03-30 Listed $150,000 REALCOMP
• 2026-03-29 Listed $150,000 MiRealSource-MiMLS
• 2006-12-18 Sold (Public Records) $133,000 Public Records
• 2001-04-24 Sold (Public Records) $90,000 Public Records

Property tax history

+6.8%/yr

Latest (2025): $3,728 · -29.0% YoY. Source: county tax records.