351 Squirrel Rd #114 · Auburn Hills, MI 48326

$39,900

3 bd · 2.0 ba · 1,425 sqft · SingleFamily · 22 Days on market

Built 1987 4,356 sqft lot $865/mo HOA · 37% 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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.8/5.0
• Schools +3.7/10.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this well-maintained 3-bedroom, 2 full bath mobile home in the heart of Auburn Hills! Conveniently located near Oakland University, this home offers easy access to shopping, dining, entertainment, and major expressways. Enjoy nearby outdoor recreation including the popular Auburn Hills Skate Park and local recreational parks. Spacious layout with comfortable living areas, generous bedrooms, and a functional floor plan perfect for everyday living. Great opportunity for affordable living in a prime Oakland County location! * * Please note- buyers must submit application through the park, prior to purchase.

Key facts

• 4,356 sq ft lot
• Built 1987
• Listed 22 days

Property features AI

Finance

• Other: Lot described as irregular; approximately 0.1 acre
• HOA & community: Homeowners association with monthly fee; Monthly association fee of $865; Community clubhouse

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family residence; One level; Ground-level entry with steps
• Construction: Vinyl siding; Pillar/post/pier foundation; Built with asphalt roof
• Exterior features: Asphalt roof; Paved road access; Shed on property

Interior

• Kitchen: Dishwasher; Free-standing electric range; Free-standing refrigerator; Range hood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Dishwasher; Free-standing electric range; Free-standing refrigerator; Range hood; Gas water heater; Crawl space basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $704 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Recommended offer: $39k (1.5% below list) — sets the bar for market timing.
• Cap rate 27.5% vs local median 4.4% in Auburn Hills — 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 76/100 on livability (#151 in MI, #3,766 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D+, schools D, amenities F.
• Avondale School District (suburban): math 34% / reading 48% proficiency, ranked #162 of 540 in MI (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-2.3%/yr); 107 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).
• This rent runs 33% of the median local income ($85k/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 $276 of loan paydown is wiped out by about $1k 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 + 0.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $3k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 37% of rent.

Recommended offer $39,301 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is D 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?
5. 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?
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: 5.85% ✓
• Cap rate: 27.46%
• Cash-on-cash: 75.60%
• DSCR: 4.36
• GRM: 1.4

CMA / ARV

• ARV (on-the-fly): $270,750
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
351 N Squirrel Road Lot 178 Rd	0.08mi	3/2.0	1,500 (+5%)	5mo	$56,500	$38	83
151 Rosetta Ct	0.53mi	3/2.5	1,448 (+2%)	12mo	$285,000	$197	60
2921 Auburn Rd	0.60mi	3/2.0	1,413 (-1%)	19mo	$220,000	$156	54
3421 Parkways Blvd	0.50mi	3/2.0	1,366 (-4%)	19mo	$260,000	$190	54
3071 Churchill Rd	0.33mi	3/2.5	1,614 (+13%)	10mo	$312,000	$193	52
3207 Waukegan St	0.74mi	2/1.0 (-1)	1,505 (+6%)	0mo	$248,073	$165	47

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 69.4%
• Equity multiple: 3.87×
• Total profit: $32,088
• Equity at exit: $5,949

10-year hold

• IRR: 71.9%
• Equity multiple: 6.51×
• Total profit: $61,525
• Equity at exit: $3,450

Cash invested: $11,172 (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 48326

• Rents YoY: -2.3%
• Active inventory: 107
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $2,335 high
• Mortgage (P&I): −$209
• Tax est. 1.5%: −$50 /mo · $598/yr
• Insurance: −$17
• HOA: −$865
• Vacancy / Maint / Mgmt: −$490
• Net cashflow: $704

Break-even live

Break-even rent $1,444

Max offer price $39,900

Occupancy floor 65%

Sensitivity live

Price	-10% $731	-5% $718	+0% $704	+5% $690	+10% $676
Rent	-10% $519	-5% $612	+0% $704	+5% $796	+10% $888
Rate	-1.0pp $724	-0.5pp $714	base $704	+0.5pp $694	+1.0pp $683

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
201 N Squirrel Rd Auburn Hills, MI	2.0–3.0	2.5–3.0	1475	$2,320	$1.57	0d	15	0.22mi
3250 Auburn Rd Unit The Carmichael Auburn Hills, MI	2.0	2.0	885	$2,150	$2.43	0d	1	0.52mi
192 Raleigh Ave Auburn Hills, MI	2.0	2.0	1700	$2,400	$1.41	44d	1	0.56mi
27 S Squirrel Rd Unit 305 Auburn Hills, MI	2.0	2.0	885	$2,245	$2.54	2d	1	0.56mi
124 Optimist Auburn Hills, MI	3.0	2.0–2.5	2123	$3,042	$1.43	0d	5	0.74mi
2862 Tall Oaks Ct Auburn Hills, MI	2.0	2.0	987	$1,520	$1.54	2d	6	1.24mi
806 Bloomfield Village Blvd Unit K Auburn Hills, MI	2.0	1.0	881	$1,500	$1.70	44d	1	1.29mi
3161 Bloomfield Ln Auburn Hills, MI	1.0–2.0	1.0–1.5	937	$1,499	$1.60	0d	22	1.30mi
676 Sheffield Rd Auburn Hills, MI	3.0	1.5	1421	$2,495	$1.76	0d	1	1.33mi
3200 South Blvd Bloomfield Hills, MI	2.0–3.0	2.0	1782	$4,250	$2.38	0d	1	1.47mi
920 Heritage Dr Bloomfield Township, MI	2.0	2.0	1804	$3,600	$2.00	0d	1	1.49mi

HOA detail

• Monthly dues: $865 · $10,380/yr

Listing history 17 events

1. 2026-06-18
   days on market $39,900 Active 22 DOM
2. 2026-06-17
   price $39,900 Active 21 DOM
3. 2026-06-17
   days on market $42,500 Active 21 DOM
4. 2026-06-16
   days on market $42,500 Active 20 DOM
5. 2026-06-15
   days on market $42,500 Active 19 DOM
6. 2026-06-13
   days on market $42,500 Active 17 DOM
7. 2026-06-13
   days on market $42,500 Active 16 DOM
8. 2026-06-09
   days on market $42,500 Active 13 DOM
9. 2026-06-08
   days on market $42,500 Active 12 DOM
10. 2026-06-07
    days on market $42,500 Active 11 DOM
11. 2026-06-04
    days on market $42,500 Active 8 DOM
12. 2026-06-03
    days on market $42,500 Active 7 DOM
13. 2026-06-02
    days on market $42,500 Active 6 DOM
14. 2026-06-01
    days on market $42,500 Active 5 DOM
15. 2026-05-31
    days on market $42,500 Active 4 DOM
16. 2026-05-27
    listed $42,500 Active

    Show marketing remark (629 chars)

    Welcome home to this well-maintained 3-bedroom, 2 full bath mobile home in the heart of Auburn Hills! Conveniently located near Oakland University, this home offers easy access to shopping, dining, entertainment, and major expressways. Enjoy nearby outdoor recreation including the popular Auburn Hills Skate Park and local recreational parks. Spacious layout with comfortable living areas, generous bedrooms, and a functional floor plan perfect for everyday living. Great opportunity for affordable living in a prime Oakland County location! * * Please note- buyers must submit application through the park, prior to purchase.

17. 2026-05-27
    listed $42,500 Active 629-char remark

    Show marketing remark (629 chars)

    Welcome home to this well-maintained 3-bedroom, 2 full bath mobile home in the heart of Auburn Hills! Conveniently located near Oakland University, this home offers easy access to shopping, dining, entertainment, and major expressways. Enjoy nearby outdoor recreation including the popular Auburn Hills Skate Park and local recreational parks. Spacious layout with comfortable living areas, generous bedrooms, and a functional floor plan perfect for everyday living. Great opportunity for affordable living in a prime Oakland County location! * * Please note- buyers must submit application through the park, prior to purchase.

ⓘ 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: $28,019
• − Mortgage interest: −$2,235
• − Property taxes: −$598
• − Insurance: −$200
• − Repairs & maintenance: −$2,242
• − Management: −$2,242
• − HOA: −$10,380
• − Depreciation: −$1,161
• Taxable income: $8,963
• Est. tax owed @ 24.0%: −$2,151
• After-tax cash flow: $6,295/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: Avondale School District
• NCES district ID: 2603690
• Math proficiency: 34% ▼ -8.00%
• Reading proficiency: 48% ▼ -4.00%
• Median HH income: $71,549
• Composite: 37.33/100
• National rank: #4442
• State rank: #162 of 540 in MI

Livability — Auburn Hills

• Score: 76/100
• State rank: #151
• US rank: #3766

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Auburn Hills, MI
• County: Oakland County · 1,009,092 people
• City population: 24,514
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 24,514
• Household income: $85,190
• Rent vs Own: 48.3% rent · 51.7% own
• Severe rent burden: 986.0

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 0.64)
• Race & ethnicity: White 56% Asian 15% Black 11% Hispanic / Latino 11% Two or more races 11%
• Hispanic origin (detail): Mexican 7% Puerto Rican 2%
• Common ancestry: Romanian 6% Slovak 2% Lithuanian 2%
• Foreign-born: 19% · Canada, China, Jamaica
• Languages at home: 76% English-only · Spanish 8% Other Indo-European 6% Other Asian/Pacific 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: ▼ -298.32%
• Current HPI: 178.7685
• Rent YoY: ▼ -2.27%
• 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

2 events — show timeline

• 2026-05-27 Listed $42,500 REALCOMP
• 2026-05-27 Listed $42,500 MiRealSource-MiMLS