22797 Shadowpine Way · Novi, MI 48375

$410,000

4 bd · 2.0 ba · 3,382 sqft · SingleFamily · 27 Days on market

Built 1970 0.31 ac lot Est $521k · 21% under $27/mo HOA · 1% of rent

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +10.8/30.0
• Schools +6.5/10.0
• Livability +4.3/5.0
• DSCR +3.1/10.0
• Rent growth +2.9/5.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity to own a clean and spacious, 4 bedroom ranch in the Village Oaks subdivision, Novi schools. The living spaces are large and open with plenty of natural light, featuring bay windows and a wood-burning fireplace. A second living space off the kitchen opens to a brick paver patio with a cool vintage awning, providing relief from the summer sun. Plenty of opportunity in the kitchen and breakfast room to design your dream kitchen. The bedrooms are a great size, including the primary bedroom, all with large closets. The primary bath recently had a make-over down to the studs, new plumbing and surround in shower, glass door, LVP flooring, toilet and vanity. The main bath features a separate privy and tub/shower from the vanity area. The basement is HUGE and ready for your fresh ideas. The yard outside is fenced with nice landscaping and plenty of space to play. New roof and gutters Nov 2025. Hi-eff furnace new in September 2023. Water heater 2019. Garage door and opener < 5 years old. The subdivision has a clubhouse and an optional swim club membership, just a block away. Situated close to shopping and expressways, Village Oaks Elementary is in the subdivision. Come and make this one your own!

Key facts

• Huge basement
• New plumbing
• Fenced yard

Tags

• WOOD BURNING FIREPLACE
• BRICK PAVER PATIO
• NEW PLUMBING
• HUGE BASEMENT
• FENCED YARD
• NICE LANDSCAPING

Property features AI

Finance

• Other: Corner, level lot on paved road (approx. 0.31 acres); Subdivision: HEATHERBRAE; Community directions: Meadowbrook Rd to Village Lake Rd, go east to Shadowpine; house is on the corner
• HOA & community: Homeowners association with annual fee ($325; approx. $27.08/month); Community clubhouse

Exterior

• Parking: Attached 2-car garage with direct access, front-facing garage, and garage door opener
• Utilities: Public water; Public sewer; Circuit breaker electric; Cable available
• Home design: Single family residence; One level; Ground-level entry with steps; Aluminum siding, brick, and wood siding exterior; Asphalt roof; Pets allowed
• Construction: Built with aluminum siding, brick, and wood siding; Asphalt roof; Partially finished below-grade area
• Exterior features: Covered patio and porch; Awnings; Exterior lighting; Fenced yard; Community pool

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Free-standing electric oven; Free-standing refrigerator; Gas water heater
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: High speed internet; Wood-burning fireplace in living room; Partially finished basement with sump pump; Laundry room
• Laundry & utility: Washer; Dryer; Humidifier

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $410k.

Deal economics

• At list price, monthly cash flow is $-190 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $376k (8.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $318k (22.5% below list).
• Recommended offer: $318k (22.5% below list) — sets the bar for 1% rule.
• Cap rate 5.7% 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.
• Novi Community School District (urban): math 73% / reading 72% proficiency, ranked #7 of 540 in MI (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 7% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+1.7%/yr); 134 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 5d 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).
• This rent runs 34% of the median local income ($113k/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 $3k of loan paydown is wiped out by about $12k 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 27 days — a 2% lower offer ($404k) 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.

Recommended offer $317,742 (22.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.77% ✗
• Cap rate: 5.74%
• Cash-on-cash: -1.98%
• DSCR: 0.91
• GRM: 10.8

CMA / ARV

• ARV (on-the-fly): $520,828
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
22797 Shadowpine Way	0.00mi	4/2.0	3,382 (0%)	1mo	$380,000	$112	99
22690 Heatherbrae Way	0.12mi	4/2.5	2,974 (-12%)	6mo	$490,000	$165	67
22565 Sheridan Rd	0.38mi	4/3.0	3,124 (-8%)	5mo	$465,000	$149	61
21855 Heatherbrae Way S	0.58mi	3/2.5 (-1)	3,324 (-2%)	3mo	$500,000	$150	60
22810 Ennishore Dr	0.40mi	3/3.0 (-1)	3,088 (-9%)	2mo	$513,000	$166	56
41714 Dukesbury Ct	0.42mi	4/3.5	3,755 (+11%)	6mo	$580,000	$154	51
21860 Clover Ln	0.67mi	4/3.0	3,192 (-6%)	7mo	$425,000	$133	50
22548 Heatherwoode Dr	0.47mi	4/3.0	3,682 (+9%)	11mo	$475,000	$129	50
21950 Heatherbrae Way S	0.52mi	4/2.5	3,086 (-9%)	13mo	$555,000	$180	48
22511 Deerfield Rd	0.32mi	3/3.0 (-1)	2,880 (-15%)	4mo	$435,000	$151	48
22080 Chase Dr	0.62mi	4/2.5	3,125 (-8%)	10mo	$950,000	$304	48
41779 Chesterfield Ct	0.72mi	5/3.5 (+1)	3,729 (+10%)	0mo	$950,000	$255	38

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 · 1.68% rent growth · sell at horizon

5-year hold

• IRR: -21.0%
• Equity multiple: 0.28×
• Total profit: $-82,722
• Equity at exit: $61,132

10-year hold

• IRR: -17.6%
• Equity multiple: 0.09×
• Total profit: $-104,378
• Equity at exit: $35,449

Cash invested: $114,800 (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 48375

• Rents YoY: 1.7%
• Active inventory: 134
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $3,177 medium
• Mortgage (P&I): −$2,150
• Tax from tax record: −$352 /mo · $4,224/yr
• Insurance: −$171
• HOA: −$27
• Vacancy / Maint / Mgmt: −$667
• Net cashflow: $-190

Break-even live

Break-even rent $3,418

Max offer price $376,481

Occupancy floor —

Sensitivity live

Price	-10% $42	-5% $-74	+0% $-190	+5% $-306	+10% $-422
Rent	-10% $-441	-5% $-315	+0% $-190	+5% $-64	+10% $61
Rate	-1.0pp $17	-0.5pp $-85	base $-190	+0.5pp $-296	+1.0pp $-404

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: $102,500
• Closing costs: $12,300
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
41705 Broquet Dr Northville, MI	3.0	1.5	2300	$2,750	$1.20	5d	1	0.87mi
42932 Cardinal Way Novi, MI	3.0	3.5	2730	$4,000	$1.47	5d	1	0.97mi
43355 Cliffside Ct Novi, MI	1.0–3.0	1.0–3.0	1690	$3,845	$2.28	2d	1	1.09mi

HOA detail

• Monthly dues: $27 · $324/yr
• Likely covers: waterlandscaping

Listing history 6 events

1. 2026-05-19
   status Pending

   Show marketing remark (1226 chars)

   Great opportunity to own a clean and spacious, 4 bedroom ranch in the Village Oaks subdivision, Novi schools. The living spaces are large and open with plenty of natural light, featuring bay windows and a wood-burning fireplace. A second living space off the kitchen opens to a brick paver patio with a cool vintage awning, providing relief from the summer sun. Plenty of opportunity in the kitchen and breakfast room to design your dream kitchen. The bedrooms are a great size, including the primary bedroom, all with large closets. The primary bath recently had a make-over down to the studs, new plumbing and surround in shower, glass door, LVP flooring, toilet and vanity. The main bath features a separate privy and tub/shower from the vanity area. The basement is HUGE and ready for your fresh ideas. The yard outside is fenced with nice landscaping and plenty of space to play. New roof and gutters Nov 2025. Hi-eff furnace new in September 2023. Water heater 2019. Garage door and opener &lt; 5 years old. The subdivision has a clubhouse and an optional swim club membership, just a block away. Situated close to shopping and expressways, Village Oaks Elementary is in the subdivision. Come and make this one your own!

2. 2026-05-19
   status Pending 1226-char remark

   Show marketing remark (1226 chars)

   Great opportunity to own a clean and spacious, 4 bedroom ranch in the Village Oaks subdivision, Novi schools. The living spaces are large and open with plenty of natural light, featuring bay windows and a wood-burning fireplace. A second living space off the kitchen opens to a brick paver patio with a cool vintage awning, providing relief from the summer sun. Plenty of opportunity in the kitchen and breakfast room to design your dream kitchen. The bedrooms are a great size, including the primary bedroom, all with large closets. The primary bath recently had a make-over down to the studs, new plumbing and surround in shower, glass door, LVP flooring, toilet and vanity. The main bath features a separate privy and tub/shower from the vanity area. The basement is HUGE and ready for your fresh ideas. The yard outside is fenced with nice landscaping and plenty of space to play. New roof and gutters Nov 2025. Hi-eff furnace new in September 2023. Water heater 2019. Garage door and opener &lt; 5 years old. The subdivision has a clubhouse and an optional swim club membership, just a block away. Situated close to shopping and expressways, Village Oaks Elementary is in the subdivision. Come and make this one your own!

3. 2026-05-01
   historical Accepting Backup Offers 1226-char remark

   Show marketing remark (1226 chars)

   Great opportunity to own a clean and spacious, 4 bedroom ranch in the Village Oaks subdivision, Novi schools. The living spaces are large and open with plenty of natural light, featuring bay windows and a wood-burning fireplace. A second living space off the kitchen opens to a brick paver patio with a cool vintage awning, providing relief from the summer sun. Plenty of opportunity in the kitchen and breakfast room to design your dream kitchen. The bedrooms are a great size, including the primary bedroom, all with large closets. The primary bath recently had a make-over down to the studs, new plumbing and surround in shower, glass door, LVP flooring, toilet and vanity. The main bath features a separate privy and tub/shower from the vanity area. The basement is HUGE and ready for your fresh ideas. The yard outside is fenced with nice landscaping and plenty of space to play. New roof and gutters Nov 2025. Hi-eff furnace new in September 2023. Water heater 2019. Garage door and opener &lt; 5 years old. The subdivision has a clubhouse and an optional swim club membership, just a block away. Situated close to shopping and expressways, Village Oaks Elementary is in the subdivision. Come and make this one your own!

4. 2026-05-01
   historical Active Under Contract

   Show marketing remark (1226 chars)

   Great opportunity to own a clean and spacious, 4 bedroom ranch in the Village Oaks subdivision, Novi schools. The living spaces are large and open with plenty of natural light, featuring bay windows and a wood-burning fireplace. A second living space off the kitchen opens to a brick paver patio with a cool vintage awning, providing relief from the summer sun. Plenty of opportunity in the kitchen and breakfast room to design your dream kitchen. The bedrooms are a great size, including the primary bedroom, all with large closets. The primary bath recently had a make-over down to the studs, new plumbing and surround in shower, glass door, LVP flooring, toilet and vanity. The main bath features a separate privy and tub/shower from the vanity area. The basement is HUGE and ready for your fresh ideas. The yard outside is fenced with nice landscaping and plenty of space to play. New roof and gutters Nov 2025. Hi-eff furnace new in September 2023. Water heater 2019. Garage door and opener &lt; 5 years old. The subdivision has a clubhouse and an optional swim club membership, just a block away. Situated close to shopping and expressways, Village Oaks Elementary is in the subdivision. Come and make this one your own!

5. 2026-04-22
   listed $410,000 Active

   Show marketing remark (1226 chars)

   Great opportunity to own a clean and spacious, 4 bedroom ranch in the Village Oaks subdivision, Novi schools. The living spaces are large and open with plenty of natural light, featuring bay windows and a wood-burning fireplace. A second living space off the kitchen opens to a brick paver patio with a cool vintage awning, providing relief from the summer sun. Plenty of opportunity in the kitchen and breakfast room to design your dream kitchen. The bedrooms are a great size, including the primary bedroom, all with large closets. The primary bath recently had a make-over down to the studs, new plumbing and surround in shower, glass door, LVP flooring, toilet and vanity. The main bath features a separate privy and tub/shower from the vanity area. The basement is HUGE and ready for your fresh ideas. The yard outside is fenced with nice landscaping and plenty of space to play. New roof and gutters Nov 2025. Hi-eff furnace new in September 2023. Water heater 2019. Garage door and opener &lt; 5 years old. The subdivision has a clubhouse and an optional swim club membership, just a block away. Situated close to shopping and expressways, Village Oaks Elementary is in the subdivision. Come and make this one your own!

6. 2026-04-22
   listed $410,000 Active 1226-char remark

   Show marketing remark (1226 chars)

   Great opportunity to own a clean and spacious, 4 bedroom ranch in the Village Oaks subdivision, Novi schools. The living spaces are large and open with plenty of natural light, featuring bay windows and a wood-burning fireplace. A second living space off the kitchen opens to a brick paver patio with a cool vintage awning, providing relief from the summer sun. Plenty of opportunity in the kitchen and breakfast room to design your dream kitchen. The bedrooms are a great size, including the primary bedroom, all with large closets. The primary bath recently had a make-over down to the studs, new plumbing and surround in shower, glass door, LVP flooring, toilet and vanity. The main bath features a separate privy and tub/shower from the vanity area. The basement is HUGE and ready for your fresh ideas. The yard outside is fenced with nice landscaping and plenty of space to play. New roof and gutters Nov 2025. Hi-eff furnace new in September 2023. Water heater 2019. Garage door and opener &lt; 5 years old. The subdivision has a clubhouse and an optional swim club membership, just a block away. Situated close to shopping and expressways, Village Oaks Elementary is in the subdivision. Come and make this one your own!

ⓘ 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: $4,224 · $352/mo
• Projected year-2 tax: $5,269 · $439/mo
• Expected delta: +$1,045/yr (+$87/mo · 24.7%)

ⓘ 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 ≥97°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: $38,129
• − Mortgage interest: −$22,966
• − Property taxes: −$4,224
• − Insurance: −$2,050
• − Repairs & maintenance: −$3,050
• − Management: −$3,050
• − HOA: −$324
• − Depreciation: −$11,927
• Taxable loss: −$9,463
• Est. tax savings @ 24.0%: +$2,271
• After-tax cash flow: $-6/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: Novi Community School District
• NCES district ID: 2626130
• Math proficiency: 73% ▼ -3.00%
• Reading proficiency: 72% ▼ -1.00%
• Median HH income: $90,023
• Composite: 65.28/100
• National rank: #489
• State rank: #7 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
• County: Oakland County · 1,009,092 people
• City population: 43,845
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 24,029
• Household income: $112,545
• Rent vs Own: 29.9% rent · 70.1% own
• Severe rent burden: 517.0

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 0.60)
• Race & ethnicity: White 56% Asian 27% Two or more races 7% Black 6% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 10% Lithuanian 3% Slovak 2%
• Foreign-born: 29% · China, Canada, South Korea
• Languages at home: 67% English-only · Other Asian/Pacific 12% Other Indo-European 8% Spanish 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: ▼ -337.82%
• Current HPI: 166.0153
• Rent YoY: ▲ 1.68%
• 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

+0.0% since first listed

6 events — show timeline

• 2026-05-19 Pending — REALCOMP
• 2026-05-19 Pending — MiRealSource-MiMLS
• 2026-05-01 Contingent — MiRealSource-MiMLS
• 2026-05-01 Contingent — REALCOMP
• 2026-04-22 Listed $410,000 MiRealSource-MiMLS
• 2026-04-22 Listed $410,000 REALCOMP

Property tax history

+2.2%/yr

Latest (2025): $4,224 · +3.4% YoY. Source: county tax records.