17484 Lowell St

Roseville, MI 48066

$79,900B+

3 bd · 1.0 ba · 1,080 sqft · Built 1940 · SingleFamily · Pending · 65 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,511/mo
• Mortgage (P&I): −$419
• Tax + insurance: −$285
• HOA: −$0
• Vac / Maint / Mgmt: −$317
• Net cashflow: $489/mo
• Annual: $5,869/yr
• Cap rate: 13.64%
• Cash-on-cash: 26.23%
• DSCR: 2.17
• 1% rule: 1.89%
• Cash to close: $22,372

Investor read

• This is a 3-bed/1.0-bath single-family listed at $80k.
• At list price, monthly cash flow is $489 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• It's been on market 65 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#258 in MI) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: health & safety D+, employment D, schools F.
• Roseville Community Schools (suburban): math 11% / reading 24% proficiency, ranked #483 of 540 in MI (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: property tax is 3.8% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents flat; 270 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 1,321 units permitted in Macomb County in 2024 (86 in 5+ unit buildings).
• Macomb County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 5 sale attempts since 30y ago; this cycle's ask has dropped $40k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $56k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 0.4% rent growth), your $22k cash investment doubles in ~6 years — after that, you're playing with house money.
• Cap rate 13.6% vs local median 5.9% in Roseville — 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.

Questions for listing agent

• It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.