344 Boyne St · South Lyon, MI 48165

$54,900

3 bd · 2.0 ba · 1,088 sqft · SingleFamily · 122 Days on market

Built 2025 Good condition 435 sqft lot $50/sqft · 85% below area $700/mo HOA · 53% 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).

• 1% rule +10.0/10.0
• Cash flow +9.2/30.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +4.2/5.0
• Condition / age +4.0/5.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

All offers Welcome. Call listing agent for showings or additional questions. Park application/approval required prior to purchase; confirm community rules and allowable improvements with management. For homes located in parks, buyer pays 6% Michigan sales tax at the Secretary of State at transfer and should verify title-transfer steps; some communities require a security deposit and first month's lot rent at signing. * * * Seller does not authorize the listing broker or any brokers to provide access to the above captioned property to prospective buyers who are not accompanied by and in the physical presence of a Michigan real estate licensee. * * * EMD to be minimum 1%. BATVAI.

Key facts

• 2 parking spots
• Pool
• Built 2025

🏷️ Possibly a rental listed for sale. The $54,900 price doesn't fit this home's estimated sale value (~$362,484) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $55k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-41 ($-496/yr) — negative.
• To cash-flow at today's rent, offer at most $49k (10.9% below list).
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.4% vs local median 2.6% in South Lyon — 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 83/100 on livability (#46 in MI, #953 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities C-, 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: 89 active listings in the ZIP; 1 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 $380 of loan paydown is wiped out by about $2k 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 122 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts; this cycle's ask is 3753% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: HOA is 53% of rent.

Recommended offer $48,312 (12.0% 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. It's been on market 122 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 2.39% ✓
• Cap rate: 5.39%
• Cash-on-cash: -3.23%
• DSCR: 0.86
• GRM: 3.5

CMA / ARV

• ARV (median comp): $362,484
• List price: $54,900
• Delta: -84.85%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -20.6%
• Equity multiple: 0.28×
• Total profit: $-11,079
• Equity at exit: $8,186

10-year hold

• IRR: -11.7%
• Equity multiple: 0.27×
• Total profit: $-11,210
• Equity at exit: $4,747

Cash invested: $15,372 (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 48165

• Active inventory: 89
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,314 medium
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $824/yr
• Insurance: −$23
• HOA: −$700
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $-41

Break-even live

Break-even rent $1,366

Max offer price $48,918

Occupancy floor 98%

Sensitivity live

Price	-10% $-3	-5% $-22	+0% $-41	+5% $-60	+10% $-79
Rent	-10% $-145	-5% $-93	+0% $-41	+5% $11	+10% $62
Rate	-1.0pp $-14	-0.5pp $-27	base $-41	+0.5pp $-56	+1.0pp $-70

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: $13,725
• Closing costs: $1,647
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
30791 Jeffrey Ct New Hudson, MI	1.0–2.0	1.0	805	$1,314	$1.63	0d	10	0.33mi

HOA detail

• Monthly dues: $700 · $8,400/yr
• Likely covers: security

Listing history 27 events

1. 2026-06-21
   days on market $54,900 Active 122 DOM
2. 2026-06-18
   days on market $54,900 Active 119 DOM
3. 2026-06-17
   days on market $54,900 Active 118 DOM
4. 2026-06-16
   days on market $54,900 Active 117 DOM
5. 2026-06-15
   days on market $54,900 Active 116 DOM
6. 2026-06-13
   days on market $54,900 Active 114 DOM
7. 2026-06-13
   days on market $54,900 Active 113 DOM
8. 2026-06-09
   days on market $54,900 Active 110 DOM
9. 2026-06-08
   days on market $54,900 Active 109 DOM
10. 2026-06-07
    days on market $54,900 Active 108 DOM
11. 2026-06-04
    days on market $54,900 Active 105 DOM
12. 2026-06-03
    days on market $54,900 Active 104 DOM
13. 2026-06-02
    days on market $54,900 Active 103 DOM
14. 2026-06-01
    days on market $54,900 Active 102 DOM
15. 2026-05-31
    days on market $54,900 Active 101 DOM
16. 2026-04-18
    listed $1,425
17. 2026-04-17
    historical $1,425
18. 2026-04-17
    historical
19. 2026-04-17
    historical
20. 2026-03-27
    listed $1,425
21. 2026-03-27
    historical $1,425
22. 2026-03-26
    listed $1,425
23. 2026-03-09
    price $54,900
24. 2026-03-09
    price $54,900
25. 2026-02-18
    listed $64,900 Active
26. 2026-02-18
    listed $54,900 Active
27. 2026-02-18
    listed $64,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $15,768
• − Mortgage interest: −$3,075
• − Property taxes: −$824
• − Insurance: −$274
• − Repairs & maintenance: −$1,261
• − Management: −$1,261
• − HOA: −$8,400
• − Depreciation: −$1,597
• Taxable loss: −$925
• Est. tax savings @ 24.0%: +$222
• After-tax cash flow: $-274/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 home is in excellent condition with recent updates, making it move-in ready and ideal for both resale and rental.

Value-add opportunities

• Both Paint exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Resale Replace countertops with granite or quartz — High-end countertops add value and appeal
• Both Install smart home devices — Modern technology enhances convenience and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Resale Replace countertops with granite or quartz — High-end countertops add value and appeal ↑
• Both Install smart home devices — Modern technology enhances convenience and adds value ↑

ⓘ 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 — South Lyon

• Score: 83/100
• State rank: #46
• US rank: #953

Category grades

Amenities C- Commute F Cost of living A+ Crime A+ Employment A Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 37,789
• Population (ZIP): 9,141

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: Predominantly White (76%)
• Race & ethnicity: White 76% Asian 11% Two or more races 10% Hispanic / Latino 8% Black 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 9% Italian 2% Lithuanian 2%
• Foreign-born: 8% · Canada, Vietnam, China
• Languages at home: 87% English-only · Other Asian/Pacific 6% Spanish 4% Vietnamese 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: ▼ -169.34%
• Current HPI: 211.8766
• 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

-97.8% since first listed

12 events — show timeline

• 2026-04-18 Listed for Rent $1,425 REALSOURCE
• 2026-04-17 Rental Removed $1,425 REALCOMP
• 2026-04-17 Listing Removed — MiRealSource-MiMLS
• 2026-04-17 Listing Removed — REALCOMP
• 2026-03-27 Listed for Rent $1,425 REALCOMP
• 2026-03-27 Rental Removed $1,425 REALSOURCE
• 2026-03-26 Listed for Rent $1,425 REALSOURCE
• 2026-03-09 Price Changed $54,900 MiRealSource-MiMLS
• 2026-03-09 Price Changed $54,900 REALCOMP
• 2026-02-18 Listed $64,900 MiRealSource-MiMLS
• 2026-02-18 Listed $54,900 MiRealSource-MiMLS
• 2026-02-18 Listed $64,900 REALCOMP