309 Michigan Ave · Pontiac, MI 48342

$105,000

2 bd · 1.0 ba · 1,451 sqft · SingleFamily public records · 51 Days on market

Built 1940 6,534 sqft lot $72/sqft · 50% below area Est $106k · at est.

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Why this score? — see what drove the C+ 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 +28.9/30.0
• DSCR +10.0/10.0
• ARV discount +7.7/15.0
• 1% rule +7.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention Invetors * * * Rental Property For Sale! Immediate Cash Flow! Perfect for DSCR Loans. Add it to your portfolio and hit the gound running. Located on Pontiac's East Side, it's close to highway access, gas stations, grocery stores, restaurants, and other shopping. Also in close proximity to Downtown Pontiac, and Downtown Auburn Hills, Parks, and Recreation. If you're in the market, this is a great opportunity that you don't want to let pass you by. IDRBNG, BTVAI. Don't wait. Submit your offer ASAP. No showings without accepted offer. Please do not disturb tenants.

Key facts

• Immediate cash flow
• Close to restaurants
• Close to shopping

Tags

• IMMEDIATE CASH FLOW
• CLOSE TO HIGHWAY ACCESS
• CLOSE TO GROCERY STORES
• CLOSE TO RESTAURANTS
• CLOSE TO SHOPPING
• CLOSE TO DOWNTOWN PONTIAC

Property features AI

Finance

• Other: Pets allowed

Exterior

• Parking: Detached 1-car garage
• Utilities: Sewer available; Circuit breaker electrical
• Home design: Single-family residence; One story; Ground-level entry with steps; Vinyl siding
• Construction: Asphalt roof; Block foundation
• Exterior features: Covered porch; Paved road

Interior

• Kitchen: Gas water heater
• Bedrooms: Total rooms: 5
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Ceiling fan(s); No central air
• Interior features: High speed internet; Unfurnished
• Laundry & utility: Washer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $355 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $102k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 5.4% in Pontiac — 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 64/100 on livability (#499 in MI) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: health & safety D, crime F, amenities F.
• Pontiac City School District (urban): math 8% / reading 17% proficiency, ranked #514 of 540 in MI (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 81% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Whitman Elementary School (math 8% / reading 8%, grade F, #1,300 of 1,397 statewide, top 94%, 601 students, 81% FRL); Pontiac Middle School (math 8% / reading 23%, grade F, #450 of 493 statewide, top 91%, 729 students, 81% FRL); Pontiac High School (math 12% / reading 27%, grade F, #622 of 713 statewide, top 88%, 935 students, 75% FRL) — zoned schools at 79% FRL track the district average.
• Market conditions: 90 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $726 of loan paydown is wiped out by about $3k 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 + 3.0% rent growth), your $29k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 25y ago 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.
• Current owner paid $20k; list at $105k implies a 422% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $101,850 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.23% ✓
• Cap rate: 10.34%
• Cash-on-cash: 14.47%
• DSCR: 1.64
• GRM: 6.7

CMA / ARV

• ARV (median comp): $105,531
• List price: $105,000
• Delta: -0.50%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
291 Michigan Ave	0.03mi	2/1.5	1,400 (-4%)	5mo	$108,000	$77	86
23 Martin Luther King JR Blvd N	0.17mi	3/1.5 (+1)	1,412 (-3%)	13mo	$205,000	$145	70
32 S Marshall St	0.28mi	3/1.0 (+1)	1,491 (+3%)	11mo	$81,000	$54	68
116 Raymond St	0.32mi	3/1.5 (+1)	1,511 (+4%)	9mo	$225,000	$149	64
103 N Roselawn St	0.42mi	3/2.0 (+1)	1,487 (+2%)	10mo	$105,000	$71	59
55 N Roselawn Street St	0.43mi	3/2.5 (+1)	1,400 (-4%)	8mo	$180,000	$129	56
53 N Roselawn St	0.43mi	3/2.5 (+1)	1,400 (-4%)	8mo	$180,000	$129	56
427 Valencia Dr	0.62mi	3/1.5 (+1)	1,449 (-0%)	16mo	$185,000	$128	51
81 Monterey St	0.65mi	2/1.5	1,240 (-14%)	3mo	$135,000	$109	41
228 S Marshall St	0.64mi	3/1.0 (+1)	1,606 (+11%)	16mo	$135,500	$84	34
75 S Jessie St	0.57mi	3/1.0 (+1)	1,240 (-14%)	14mo	$115,000	$93	33
127 Victory Dr	0.66mi	3/2.0 (+1)	1,610 (+11%)	13mo	$153,000	$95	31

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.9%
• Equity multiple: 1.19×
• Total profit: $5,551
• Equity at exit: $15,656

10-year hold

• IRR: 14.3%
• Equity multiple: 2.15×
• Total profit: $33,850
• Equity at exit: $9,078

Cash invested: $29,400 (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 48342

• Home prices YoY: -33.8%
• Active inventory: 90
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,297 high
• Mortgage (P&I): −$551
• Tax from tax record: −$75 /mo · $904/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $355

Break-even live

Break-even rent $848

Max offer price $105,000

Occupancy floor 68%

Sensitivity live

Price	-10% $414	-5% $384	+0% $355	+5% $325	+10% $295
Rent	-10% $252	-5% $303	+0% $355	+5% $406	+10% $457
Rate	-1.0pp $407	-0.5pp $381	base $355	+0.5pp $327	+1.0pp $300

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
68 N Shirley St Pontiac, MI	3.0	1.0	950	$1,395	$1.47	19d	1	0.33mi
38 N Shirley St Pontiac, MI	3.0	1.0	1174	$1,425	$1.21	45d	1	0.34mi
90 Martin Luther King Jr Blvd S Pontiac, MI	2.0	1.0	900	$1,000	$1.11	45d	1	0.38mi
16 Victory Dr Unit 18 Pontiac, MI	2.0	1.0	1114	$1,150	$1.03	26d	1	0.46mi
16 Victory Dr Unit 18 Pontiac, MI	2.0	1.0	1118	$1,150	$1.03	45d	1	0.46mi
128 S Edith St Pontiac, MI	2.0–3.0	2.0	1155	$1,384	$1.20	19d	1	0.48mi
4000 Winston Dr Pontiac, MI	2.0	1.5	952	$1,182	$1.24	1d	1	0.74mi
188 Vernon Dr Pontiac, MI	3.0	1.0	1100	$1,500	$1.36	26d	1	0.79mi
20 Frank St Pontiac, MI	1.0	1.0	995	$800	$0.80	19d	1	0.87mi
49 Oakhill St Pontiac, MI	3.0	1.0	1200	$1,575	$1.31	26d	1	0.90mi
672 Linda Vista Dr Pontiac, MI	3.0	1.0	900	$1,500	$1.67	5d	1	0.95mi
1173 Featherstone Rd Pontiac, MI	3.0	1.5	970	$1,495	$1.54	26d	1	0.96mi
264 Nelson St Pontiac, MI	3.0	1.0	1478	$1,590	$1.08	45d	1	1.08mi
35 N Saginaw St Pontiac, MI	1.0	1.0	1000	$1,350	$1.35	45d	1	1.13mi
35 N Saginaw St Unit 2 Pontiac, MI	1.0	1.0	1000	$1,350	$1.35	45d	1	1.13mi
957 Perry St Pontiac, MI	1.0–3.0	1.0	835	$974	$1.17	45d	1	1.19mi
750 Scottwood St Pontiac, MI	3.0	1.0	920	$1,395	$1.52	14d	1	1.23mi
5 Carter St Pontiac, MI	1.0	1.0	880	$1,034	$1.18	6d	1	1.28mi
65 Whitfield St Pontiac, MI	3.0	1.0	924	$1,175	$1.27	45d	1	1.31mi
489 Central Ave Pontiac, MI	2.0	1.0	1140	$1,195	$1.05	6d	1	1.33mi
442 Central Ave Pontiac, MI	2.0	1.0	1500	$1,250	$0.83	18d	1	1.35mi
442 Central Ave Unit 1 Pontiac, MI	2.0	1.0	1500	$1,500	$1.00	6d	1	1.35mi

Listing history 23 events

1. 2026-06-21
   days on market $105,000 Active 51 DOM
2. 2026-06-18
   days on market $105,000 Active 48 DOM
3. 2026-06-17
   days on market $105,000 Active 47 DOM
4. 2026-06-16
   days on market $105,000 Active 46 DOM
5. 2026-06-15
   days on market $105,000 Active 45 DOM
6. 2026-06-13
   days on market $105,000 Active 43 DOM
7. 2026-06-13
   days on market $105,000 Active 42 DOM
8. 2026-06-09
   days on market $105,000 Active 39 DOM
9. 2026-06-08
   days on market $105,000 Active 38 DOM
10. 2026-06-07
    days on market $105,000 Active 37 DOM
11. 2026-06-04
    days on market $105,000 Active 34 DOM
12. 2026-06-03
    days on market $105,000 Active 33 DOM
13. 2026-06-02
    days on market $105,000 Active 32 DOM
14. 2026-06-01
    days on market $105,000 Active 31 DOM
15. 2026-05-31
    days on market $105,000 Active 30 DOM
16. 2026-05-19
    price $105,000 582-char remark

    Show marketing remark (582 chars)

    Attention Invetors * * * Rental Property For Sale! Immediate Cash Flow! Perfect for DSCR Loans. Add it to your portfolio and hit the gound running. Located on Pontiac's East Side, it's close to highway access, gas stations, grocery stores, restaurants, and other shopping. Also in close proximity to Downtown Pontiac, and Downtown Auburn Hills, Parks, and Recreation. If you're in the market, this is a great opportunity that you don't want to let pass you by. IDRBNG, BTVAI. Don't wait. Submit your offer ASAP. No showings without accepted offer. Please do not disturb tenants.

17. 2026-05-18
    price $105,000 582-char remark
18. 2026-04-30
    listed $110,000 Active 582-char remark

    Show marketing remark (582 chars)

    Attention Invetors * * * Rental Property For Sale! Immediate Cash Flow! Perfect for DSCR Loans. Add it to your portfolio and hit the gound running. Located on Pontiac's East Side, it's close to highway access, gas stations, grocery stores, restaurants, and other shopping. Also in close proximity to Downtown Pontiac, and Downtown Auburn Hills, Parks, and Recreation. If you're in the market, this is a great opportunity that you don't want to let pass you by. IDRBNG, BTVAI. Don't wait. Submit your offer ASAP. No showings without accepted offer. Please do not disturb tenants.

19. 2026-04-30
    listed $110,000 Active 582-char remark

    Show marketing remark (582 chars)

    Attention Invetors * * * Rental Property For Sale! Immediate Cash Flow! Perfect for DSCR Loans. Add it to your portfolio and hit the gound running. Located on Pontiac's East Side, it's close to highway access, gas stations, grocery stores, restaurants, and other shopping. Also in close proximity to Downtown Pontiac, and Downtown Auburn Hills, Parks, and Recreation. If you're in the market, this is a great opportunity that you don't want to let pass you by. IDRBNG, BTVAI. Don't wait. Submit your offer ASAP. No showings without accepted offer. Please do not disturb tenants.

20. 2001-04-23
    soldstatus $20,100

    Show marketing remark (300 chars)

    HUD CASE# 261-550993. FHA INSURED FINANCING AVAILABLE W/ CONDITIONS. INSP. / CERT. ROOF/SYSTEMS AT BUYERS EXPENSE TO ENSURE COMPLETE SYSTEM FUNCTIONAL- ITY. HOME SOLD AS-IS -HUD WILL MAKE NO REPAIRS. ELECTRONIC BIDDING VIA PHONE OR INTERNET ONLY! GO TO WWW. MCBREO. COM FOR INFO. COOP COMM. UP TO 5%.

21. 2001-03-02
    listed $20,000

    Show marketing remark (300 chars)

    HUD CASE# 261-550993. FHA INSURED FINANCING AVAILABLE W/ CONDITIONS. INSP. / CERT. ROOF/SYSTEMS AT BUYERS EXPENSE TO ENSURE COMPLETE SYSTEM FUNCTIONAL- ITY. HOME SOLD AS-IS -HUD WILL MAKE NO REPAIRS. ELECTRONIC BIDDING VIA PHONE OR INTERNET ONLY! GO TO WWW. MCBREO. COM FOR INFO. COOP COMM. UP TO 5%.

22. 1990-10-15
    soldstatus $36,000
23. 1971-08-05
    soldstatus $16,300

ⓘ 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: $904 · $75/mo
• Projected year-2 tax: $1,260 · $105/mo
• Expected delta: +$357/yr (+$30/mo · 39.4%)

ⓘ 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 ≥96°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: $15,558
• − Mortgage interest: −$5,882
• − Property taxes: −$904
• − Insurance: −$525
• − Repairs & maintenance: −$1,245
• − Management: −$1,245
• − Depreciation: −$3,055
• Taxable income: $2,704
• Est. tax owed @ 24.0%: −$649
• After-tax cash flow: $3,606/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: Pontiac City School District
• NCES district ID: 2628740
• Math proficiency: 8% ▼ -5.00%
• Reading proficiency: 17% ▼ -3.00%
• Median HH income: $33,888
• Composite: 10.12/100
• National rank: #9802
• State rank: #514 of 540 in MI

Livability — Pontiac

• Score: 64/100
• State rank: #499
• US rank: #14703

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pontiac, MI
• City population: 44,593
• Population (ZIP): 17,227

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 0.62)
• Race & ethnicity: Black 57% Hispanic / Latino 19% White 13% Two or more races 13% Asian 4%
• Hispanic origin (detail): Mexican 11% Puerto Rican 2%
• Common ancestry: Romanian 1% Lithuanian 1% Italian 1%
• Foreign-born: 10% · Canada, Vietnam
• Languages at home: 79% English-only · Spanish 15% Other Asian/Pacific 4% Other Indo-European 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: ▼ -109.18%
• Current HPI: 214.3258
• 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

+544.2% since first listed

8 events — show timeline

• 2026-05-19 Price Changed $105,000 MiRealSource-MiMLS
• 2026-05-18 Price Changed $105,000 REALCOMP
• 2026-04-30 Listed $110,000 REALCOMP
• 2026-04-30 Listed $110,000 MiRealSource-MiMLS
• 2001-04-23 Sold (MLS) $20,100 MiRealSource-MiMLS
• 2001-03-02 Listed $20,000 MiRealSource-MiMLS
• 1990-10-15 Sold (Public Records) $36,000 Public Records
• 1971-08-05 Sold (Public Records) $16,300 Public Records

Property tax history

+1.9%/yr

Latest (2025): $904 · +2.7% YoY. Source: county tax records.