3403 Nottingham · South Lyon, MI 48167

$89,900

3 bd · 2.0 ba · 1,840 sqft · SingleFamily · 158 Days on market

4,356 sqft lot Est $81k · 11% over $797/mo HOA · 36% of rent

---

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 +29.5/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.7/10.0
• Livability +4.2/5.0
• Rent growth +3.5/5.0
• ARV discount +2.5/15.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for an affordable and updated home within South Lyon school district? Look no further! Come check out this completely updated manufactured home in desirable and peaceful Northville Crossings community. This home has so much to offer. This open floor plan has three bedrooms, 2 full bathrooms, huge kitchen with so much counter/ cabinet space and new stainless steel appliances. Nothing needs to be done except for moving in! Separate living spaces, Family room with natural fireplace, three generous sized bedrooms with plenty of storage in each room. Primary suite offers walk in closet and private bathroom with his and her vanities. Home also offers new roof, water softener, water heater AND furnace. All new flooring throughout, like I said all you have to do is move right in and start your future plans! Being part of Northville Crossings gives you access to many accommodations which include playground areas, clubhouse, 24/7 fitness center and pool. Shed included for extra storage with custom patio. This home backs up to a private and serene setting, no neighbors behind you. Home is priced to sell and won't last long!

Key facts

• Open floor plan
• Gas fireplace
• Huge kitchen

Tags

• UPDATED HOME
• OPEN FLOOR PLAN
• HUGE KITCHEN
• NEW STAINLESS STEEL APPLIANCES
• SEPARATE LIVING SPACES
• GAS FIREPLACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $322 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 2.8% 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: Rents rising (+4.0%/yr); 213 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 996 units permitted in Washtenaw County in 2024 (492 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Washtenaw County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $25k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 158 days — a 12% lower offer ($79k) 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: HOA is 36% of rent.

Recommended offer $79,112 (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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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?
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: 2.45% ✓
• Cap rate: 10.59%
• Cash-on-cash: 15.33%
• DSCR: 1.68
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $80,960
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3502 Midsummer Ln	0.16mi	3/2.0	1,800 (-2%)	4mo	$79,999	$44	86
4966 Venice Cir	0.26mi	3/2.0	2,000 (+9%)	1mo	$80,000	$40	72
8137 Churchill St	0.40mi	4/2.5 (+1)	1,800 (-2%)	10mo	$70,000	$39	62
8175 Eaton Dr	0.48mi	3/2.0	1,600 (-13%)	6mo	$65,000	$41	51
9703 Tower Rd	0.71mi	4/2.0 (+1)	1,800 (-2%)	11mo	$525,000	$292	49
9600 Astor	0.42mi	3/2.0	1,568 (-15%)	18mo	$85,000	$54	40

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 · 3.97% rent growth · sell at horizon

5-year hold

• IRR: 8.5%
• Equity multiple: 1.34×
• Total profit: $8,605
• Equity at exit: $13,404

10-year hold

• IRR: 19.4%
• Equity multiple: 2.79×
• Total profit: $45,072
• Equity at exit: $7,773

Cash invested: $25,172 (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 48167

• Rents YoY: 4.0%
• Active inventory: 213
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $2,202 medium
• Mortgage (P&I): −$471
• Tax est. 1.5%: −$112 /mo · $1,348/yr
• Insurance: −$37
• HOA: −$797
• Vacancy / Maint / Mgmt: −$462
• Net cashflow: $322

Break-even live

Break-even rent $1,795

Max offer price $89,900

Occupancy floor 80%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9800 Bloomsbury Cir Northville, MI	3.0	2.0	1456	$1,629	$1.12	2d	1	0.34mi

HOA detail

• Monthly dues: $797 · $9,564/yr
• Likely covers: waterpoolgym

Listing history 4 events

1. 2026-01-28
   status Pending 1138-char remark

   Show marketing remark (1138 chars)

   Looking for an affordable and updated home within South Lyon school district? Look no further! Come check out this completely updated manufactured home in desirable and peaceful Northville Crossings community. This home has so much to offer. This open floor plan has three bedrooms, 2 full bathrooms, huge kitchen with so much counter/ cabinet space and new stainless steel appliances. Nothing needs to be done except for moving in! Separate living spaces, Family room with natural fireplace, three generous sized bedrooms with plenty of storage in each room. Primary suite offers walk in closet and private bathroom with his and her vanities. Home also offers new roof, water softener, water heater AND furnace. All new flooring throughout, like I said all you have to do is move right in and start your future plans! Being part of Northville Crossings gives you access to many accommodations which include playground areas, clubhouse, 24/7 fitness center and pool. Shed included for extra storage with custom patio. This home backs up to a private and serene setting, no neighbors behind you. Home is priced to sell and won't last long!

2. 2026-01-27
   status Pending
3. 2025-08-23
   listed $89,900 Active
4. 2025-08-22
   listed $89,900 Active 1138-char remark

   Show marketing remark (1138 chars)

   Looking for an affordable and updated home within South Lyon school district? Look no further! Come check out this completely updated manufactured home in desirable and peaceful Northville Crossings community. This home has so much to offer. This open floor plan has three bedrooms, 2 full bathrooms, huge kitchen with so much counter/ cabinet space and new stainless steel appliances. Nothing needs to be done except for moving in! Separate living spaces, Family room with natural fireplace, three generous sized bedrooms with plenty of storage in each room. Primary suite offers walk in closet and private bathroom with his and her vanities. Home also offers new roof, water softener, water heater AND furnace. All new flooring throughout, like I said all you have to do is move right in and start your future plans! Being part of Northville Crossings gives you access to many accommodations which include playground areas, clubhouse, 24/7 fitness center and pool. Shed included for extra storage with custom patio. This home backs up to a private and serene setting, no neighbors behind you. Home is priced to sell and won't last long!

ⓘ 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: $26,428
• − Mortgage interest: −$5,036
• − Property taxes: −$1,348
• − Insurance: −$450
• − Repairs & maintenance: −$2,114
• − Management: −$2,114
• − HOA: −$9,564
• − Depreciation: −$2,615
• Taxable income: $3,186
• Est. tax owed @ 24.0%: −$765
• After-tax cash flow: $3,094/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: 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

• County: Wayne County · 1,562,939 people
• City population: 37,789
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 24,713
• Household income: $124,630
• Rent vs Own: 25.9% rent · 74.1% own
• Severe rent burden: 441.0

Population outlook (Washtenaw County) Hauer SSP2

• Today (2025): 402,878 people
• By 2030: 424,104 · +5.3%
• By 2040: 464,633 · +15.3%
• By 2050: 504,728 · +25.3%
• By 2075: 614,463 · +52.5%
• By 2100: 676,181 · +67.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Asian 10% Two or more races 5% Hispanic / Latino 4% Black 4%
• Common ancestry: Romanian 11% Lithuanian 4% Slovak 3%
• Foreign-born: 15% · Canada, China, South Korea
• Languages at home: 85% English-only · Other Indo-European 4% Other Asian/Pacific 3% Chinese 2%

Political lean MEDSL · Washtenaw

• 2024 margin: Solid D (+44.4) · D 71.0% · R 26.6% · Other 2.4%
• 2008→2024 swing: +3.5pp toward D · 2008: 41.0pp · 2024: 44.4pp
• All cycles: 2024: D+44.4 2020: D+46.6 2016: D+41.5 2012: D+36.0 2008: D+41.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -275.65%
• Current HPI: 176.171
• Rent YoY: ▲ 3.97%
• 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

4 events — show timeline

• 2026-01-28 Pending — MiRealSource-MiMLS
• 2026-01-27 Pending — REALCOMP
• 2025-08-23 Listed $89,900 REALCOMP
• 2025-08-22 Listed $89,900 MiRealSource-MiMLS