569 Hendrickson Blvd

Clawson, MI 48017

$315,000D-

3 bd · 2.0 ba · 1,535 sqft · Built 1976 · SingleFamily · Active · 19 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,292/mo
• Mortgage (P&I): −$1,652
• Tax + insurance: −$475
• HOA: −$0
• Vac / Maint / Mgmt: −$481
• Net cashflow: $-316/mo
• Annual: $-3,793/yr
• Cap rate: 5.09%
• Cash-on-cash: -4.30%
• DSCR: 0.81
• 1% rule: 0.73%
• Cash to close: $88,200

Investor read

• This is a 3-bed/2.0-bath single-family listed at $315k.
• At list price, monthly cash flow is $-316 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $259k (17.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $229k (27.2% below list).
• It's been on market 19 days — a 2% lower offer ($310k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $229k (27.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 92/100 on livability (#2 in MI, #34 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+.
• Clawson Public Schools (suburban): math 33% / reading 55% proficiency, ranked #148 of 540 in MI (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 56 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 4d 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).
• Oakland County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 12 sale attempts since 27y ago; this cycle's ask has dropped $25k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $144k; list at $315k implies a 120% gain — meaningful room to come down on a strong offer.
• Cap rate 5.1% vs local median 4.1% in Clawson — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• This rent runs 31% of the median local income ($89k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.