185 Michelson Rd · Rochester Hills, MI 48307

$367,500

4 bd · 2.0 ba · 2,386 sqft · SingleFamily public records · 178 Days on market

Built 1986 1.01 ac lot $154/sqft · 26% below area Est $536k · 31% under

---

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).

• ARV discount +15.0/15.0
• Cash flow +13.4/30.0
• Schools +5.9/10.0
• DSCR +4.0/10.0
• Livability +3.9/5.0
• 1% rule +3.0/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This Classic Rochester Hills home sits on a 1.006 acre lot that includes a fenced in backyard. Home has large rooms offering scenic views of the property highlighting an open concept ideal for entertaining. Large windows in each living area filter natural light into this home. The Master Bedroom on the upper level features private access to the updated bathroom and ample closets. A pantry located conveniently by the kitchen is complimented by an additional storage room . The lower level is open and spacious with a large family room, updated bathroom and additional large bedrooms. Hardwood floors throughout the upper level, Marble flooring in entry level, lower level bathroom and Ceramic flooring in the remainder of the home. The updated Kitchen and Bathrooms are bright and airy. Home is located within the award winning Rochester School system and has easy access to expressways, shopping , dining and parks. Spencer Park, Hampton Village Shopping, minutes to Downtown Rochester and Downtown Troy. Home is immediately available at closing. A 1 year Home Warranty is provided by the Seller.

Key facts

• 1.01 acre lot
• 3 garage spots
• Built 1986

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $368k.

Deal economics

• At list price, monthly cash flow is $8 ($101/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $295k (19.7% below list).
• Recommended offer: $295k (19.7% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 3.2% in Rochester 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 77/100 on livability (#127 in MI, #3,163 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Rochester Community School District (suburban): math 60% / reading 69% proficiency, ranked #21 of 540 in MI (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+1.8%/yr); 208 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 ($107k/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 $3k of loan paydown is wiped out by about $11k 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.

Negotiation context

• It's been on market 178 days — a 12% lower offer ($323k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 28y ago; this cycle's ask has dropped $70k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $186k; list at $368k implies a 97% gain — meaningful room to come down on a strong offer.

Recommended offer $295,237 (19.7% below list)

Questions for the listing agent

1. It's been on market 178 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
5. 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.
6. 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.
7. 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: 0.80% ✗
• Cap rate: 6.32%
• Cash-on-cash: 0.10%
• DSCR: 1.00
• GRM: 10.4

CMA / ARV

• ARV (median comp): $536,034
• List price: $367,500
• Delta: -31.44%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
175 Eastlawn Dr	0.09mi	4/2.5	2,038 (-15%)	12mo	$445,000	$218	60
350 Jonathan Dr	0.30mi	4/2.5	2,617 (+10%)	13mo	$682,500	$261	57
372 Daylily Dr	0.37mi	3/2.5 (-1)	2,145 (-10%)	7mo	$559,000	$261	53
3727 Hogan Cir	0.67mi	5/3.5 (+1)	2,468 (+3%)	0mo	$676,500	$274	52
3580 Hazelton Ave	0.59mi	3/2.0 (-1)	2,530 (+6%)	10mo	$390,000	$154	49
677 Amberwood Ct	0.54mi	3/2.5 (-1)	2,155 (-10%)	19mo	$525,000	$244	36

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 · 1.78% rent growth · sell at horizon

5-year hold

• IRR: -17.4%
• Equity multiple: 0.39×
• Total profit: $-62,685
• Equity at exit: $54,795

10-year hold

• IRR: -11.8%
• Equity multiple: 0.33×
• Total profit: $-68,590
• Equity at exit: $31,775

Cash invested: $102,900 (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 48307

• Rents YoY: 1.8%
• Active inventory: 208
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,952 medium
• Mortgage (P&I): −$1,927
• Tax from tax record: −$244 /mo · $2,924/yr
• Insurance: −$153
• HOA: −$0
• Vacancy / Maint / Mgmt: −$620
• Net cashflow: $8

Break-even live

Break-even rent $2,942

Max offer price $367,500

Occupancy floor 95%

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: $91,875
• Closing costs: $11,025
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
951 Barclay Cir Rochester Hills, MI	3.0	4.0	1960	$2,995	$1.53	14d	1	0.78mi
2845 Hartwick Dr Rochester, MI	3.0	3.5	1805	$2,800	$1.55	14d	1	0.90mi
6525 Norton Dr Troy, MI	4.0	2.0	2047	$2,800	$1.37	43d	1	0.91mi
5944 Willow Grv Troy, MI	3.0	2.0	1850	$4,250	$2.30	43d	1	1.42mi

Listing history 26 events

1. 2026-06-18
   days on market $367,500 Active 178 DOM
2. 2026-06-17
   days on market $367,500 Active 177 DOM
3. 2026-06-16
   days on market $367,500 Active 176 DOM
4. 2026-06-15
   days on market $367,500 Active 175 DOM
5. 2026-06-13
   days on market $367,500 Active 173 DOM
6. 2026-06-13
   days on market $367,500 Active 172 DOM
7. 2026-06-09
   days on market $367,500 Active 169 DOM
8. 2026-06-08
   days on market $367,500 Active 168 DOM
9. 2026-06-07
   days on market $367,500 Active 167 DOM
10. 2026-06-04
    days on market $367,500 Active 164 DOM
11. 2026-06-03
    days on market $367,500 Active 163 DOM
12. 2026-06-02
    pricedays on market $367,500 Active 162 DOM
13. 2026-06-01
    days on market $398,500 Active 161 DOM
14. 2026-05-31
    days on market $398,500 Active 160 DOM
15. 2026-03-18
    price $398,500 1100-char remark

    Show marketing remark (1100 chars)

    This Classic Rochester Hills home sits on a 1.006 acre lot that includes a fenced in backyard. Home has large rooms offering scenic views of the property highlighting an open concept ideal for entertaining. Large windows in each living area filter natural light into this home. The Master Bedroom on the upper level features private access to the updated bathroom and ample closets. A pantry located conveniently by the kitchen is complimented by an additional storage room . The lower level is open and spacious with a large family room, updated bathroom and additional large bedrooms. Hardwood floors throughout the upper level, Marble flooring in entry level, lower level bathroom and Ceramic flooring in the remainder of the home. The updated Kitchen and Bathrooms are bright and airy. Home is located within the award winning Rochester School system and has easy access to expressways, shopping , dining and parks. Spencer Park, Hampton Village Shopping, minutes to Downtown Rochester and Downtown Troy. Home is immediately available at closing. A 1 year Home Warranty is provided by the Seller.

16. 2026-03-17
    price $398,500 1102-char remark

    Show marketing remark (1102 chars)

    This Classic Rochester Hills home sits on a 1.006 acre lot that includes a fenced in backyard. Home has large rooms offering scenic views of the property highlighting an open concept ideal for entertaining. Large windows in each living area filter natural light into this home. The Master Bedroom on the upper level features private access to the updated bathroom and ample closets. A pantry located conveniently by the kitchen is complimented by an additional storage room . The lower level is open and spacious with a large family room, updated bathroom and additional large bedrooms. Hardwood floors throughout the upper level, Marble flooring in entry level, lower level bathroom and Ceramic flooring in the remainder of the home. The updated Kitchen and Bathrooms are bright and airy. Home is located within the award winning Rochester School system and has easy access to expressways, shopping , dining and parks. Spencer Park, Hampton Village Shopping, minutes to Downtown Rochester and Downtown Troy. Home is immediately available at closing. A 1 year Home Warranty is provided by the Seller.

17. 2026-02-01
    price $425,000 1100-char remark

    Show marketing remark (1100 chars)

    This Classic Rochester Hills home sits on a 1.006 acre lot that includes a fenced in backyard. Home has large rooms offering scenic views of the property highlighting an open concept ideal for entertaining. Large windows in each living area filter natural light into this home. The Master Bedroom on the upper level features private access to the updated bathroom and ample closets. A pantry located conveniently by the kitchen is complimented by an additional storage room . The lower level is open and spacious with a large family room, updated bathroom and additional large bedrooms. Hardwood floors throughout the upper level, Marble flooring in entry level, lower level bathroom and Ceramic flooring in the remainder of the home. The updated Kitchen and Bathrooms are bright and airy. Home is located within the award winning Rochester School system and has easy access to expressways, shopping , dining and parks. Spencer Park, Hampton Village Shopping, minutes to Downtown Rochester and Downtown Troy. Home is immediately available at closing. A 1 year Home Warranty is provided by the Seller.

18. 2026-01-31
    price $425,000 1102-char remark

    Show marketing remark (1102 chars)

    This Classic Rochester Hills home sits on a 1.006 acre lot that includes a fenced in backyard. Home has large rooms offering scenic views of the property highlighting an open concept ideal for entertaining. Large windows in each living area filter natural light into this home. The Master Bedroom on the upper level features private access to the updated bathroom and ample closets. A pantry located conveniently by the kitchen is complimented by an additional storage room . The lower level is open and spacious with a large family room, updated bathroom and additional large bedrooms. Hardwood floors throughout the upper level, Marble flooring in entry level, lower level bathroom and Ceramic flooring in the remainder of the home. The updated Kitchen and Bathrooms are bright and airy. Home is located within the award winning Rochester School system and has easy access to expressways, shopping , dining and parks. Spencer Park, Hampton Village Shopping, minutes to Downtown Rochester and Downtown Troy. Home is immediately available at closing. A 1 year Home Warranty is provided by the Seller.

19. 2025-12-23
    listed $437,000 Active 1100-char remark

    Show marketing remark (1102 chars)

    This Classic Rochester Hills home sits on a 1.006 acre lot that includes a fenced in backyard. Home has large rooms offering scenic views of the property highlighting an open concept ideal for entertaining. Large windows in each living area filter natural light into this home. The Master Bedroom on the upper level features private access to the updated bathroom and ample closets. A pantry located conveniently by the kitchen is complimented by an additional storage room . The lower level is open and spacious with a large family room, updated bathroom and additional large bedrooms. Hardwood floors throughout the upper level, Marble flooring in entry level, lower level bathroom and Ceramic flooring in the remainder of the home. The updated Kitchen and Bathrooms are bright and airy. Home is located within the award winning Rochester School system and has easy access to expressways, shopping , dining and parks. Spencer Park, Hampton Village Shopping, minutes to Downtown Rochester and Downtown Troy. Home is immediately available at closing. A 1 year Home Warranty is provided by the Seller.

20. 2025-12-23
    listed $437,000 Active 1102-char remark

    Show marketing remark (1102 chars)

    This Classic Rochester Hills home sits on a 1.006 acre lot that includes a fenced in backyard. Home has large rooms offering scenic views of the property highlighting an open concept ideal for entertaining. Large windows in each living area filter natural light into this home. The Master Bedroom on the upper level features private access to the updated bathroom and ample closets. A pantry located conveniently by the kitchen is complimented by an additional storage room . The lower level is open and spacious with a large family room, updated bathroom and additional large bedrooms. Hardwood floors throughout the upper level, Marble flooring in entry level, lower level bathroom and Ceramic flooring in the remainder of the home. The updated Kitchen and Bathrooms are bright and airy. Home is located within the award winning Rochester School system and has easy access to expressways, shopping , dining and parks. Spencer Park, Hampton Village Shopping, minutes to Downtown Rochester and Downtown Troy. Home is immediately available at closing. A 1 year Home Warranty is provided by the Seller.

21. 2025-12-16
    historical $437,000 1100-char remark

    Show marketing remark (1100 chars)

    This Classic Rochester Hills home sits on a 1.006 acre lot that includes a fenced in backyard. Home has large rooms offering scenic views of the property highlighting an open concept ideal for entertaining. Large windows in each living area filter natural light into this home. The Master Bedroom on the upper level features private access to the updated bathroom and ample closets. A pantry located conveniently by the kitchen is complimented by an additional storage room . The lower level is open and spacious with a large family room, updated bathroom and additional large bedrooms. Hardwood floors throughout the upper level, Marble flooring in entry level, lower level bathroom and Ceramic flooring in the remainder of the home. The updated Kitchen and Bathrooms are bright and airy. Home is located within the award winning Rochester School system and has easy access to expressways, shopping , dining and parks. Spencer Park, Hampton Village Shopping, minutes to Downtown Rochester and Downtown Troy. Home is immediately available at closing. A 1 year Home Warranty is provided by the Seller.

22. 1998-10-08
    soldstatus $186,500
23. 1998-09-21
    soldstatus $186,500
24. 1998-08-04
    historical
25. 1998-06-02
    listed $193,900
26. 1995-08-04
    soldstatus $154,900

ⓘ 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: $2,924 · $244/mo
• Projected year-2 tax: $4,292 · $358/mo
• Expected delta: +$1,368/yr (+$114/mo · 46.8%)

ⓘ 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 ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,428
• − Mortgage interest: −$20,586
• − Property taxes: −$2,924
• − Insurance: −$1,838
• − Repairs & maintenance: −$2,834
• − Management: −$2,834
• − Depreciation: −$10,691
• Taxable loss: −$6,278
• Est. tax savings @ 24.0%: +$1,507
• After-tax cash flow: $1,607/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: Rochester Community School District
• NCES district ID: 2629940
• Math proficiency: 60% ▼ -9.00%
• Reading proficiency: 69% ▼ -4.00%
• Median HH income: $89,242
• Composite: 58.53/100
• National rank: #994
• State rank: #21 of 540 in MI

Livability — Rochester Hills

• Score: 77/100
• State rank: #127
• US rank: #3163

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rochester Hills, MI
• County: Oakland County · 1,009,092 people
• City population: 44,714
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 44,714
• Household income: $106,576
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 926.0

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: Predominantly White (74%)
• Race & ethnicity: White 74% Asian 14% Two or more races 6% Black 4% Hispanic / Latino 4%
• Common ancestry: Romanian 9% Lithuanian 3% Slovak 2%
• Foreign-born: 19% · Canada, China, South Korea
• Languages at home: 76% English-only · Other Indo-European 9% Spanish 3% Arabic 2%

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: ▼ -339.13%
• Current HPI: 188.8794
• Rent YoY: ▲ 1.78%
• 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

+157.3% since first listed

12 events — show timeline

• 2026-03-18 Price Changed $398,500 MiRealSource-MiMLS
• 2026-03-17 Price Changed $398,500 REALCOMP
• 2026-02-01 Price Changed $425,000 MiRealSource-MiMLS
• 2026-01-31 Price Changed $425,000 REALCOMP
• 2025-12-23 Listed $437,000 MiRealSource-MiMLS
• 2025-12-23 Listed $437,000 REALCOMP
• 2025-12-16 Coming Soon $437,000 MiRealSource-MiMLS
• 1998-10-08 Sold (Public Records) $186,500 Public Records
• 1998-09-21 Sold (MLS) $186,500 MiRealSource-MiMLS
• 1998-08-04 Listing Removed — MiRealSource-MiMLS
• 1998-06-02 Listed $193,900 MiRealSource-MiMLS
• 1995-08-04 Sold (Public Records) $154,900 Public Records

Property tax history

-0.0%/yr

Latest (2025): $2,924 · -46.8% YoY. Source: county tax records.