1671 Cass Lake Rd Unit C · Keego Harbor, MI 48320

$119,900

1 bd · 1.0 ba · 743 sqft · Condo public records · 19 Days on market

Built 1966 $295/mo HOA · 25% of rent

---

Why this score? — see what drove the D- 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 +7.9/30.0
• ARV discount +7.5/15.0
• 1% rule +4.7/10.0
• Schools +4.5/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Affordable lake living! Charming 1-bedroom, 1-bath condo with private sandy beach access to beautiful Sylvan Lake and lake privileges on Cass Lake. Enjoy summer days at the beach, boating, and all-sports lake recreation. Great opportunity to own in a desirable lake community with endless potential. Sold AS-IS. Buyer and/or Buyer's Agent to verify all information. Seller will make no repairs. Seller's representative has limited knowledge of the property. Non-warrantable condo; specific financing required.

Key facts

• Lake privileges
• $295 HOA
• Built 1966

Tags

• PRIVATE SANDY BEACH ACCESS
• LAKE PRIVILEGES
• DESIRABLE LAKE COMMUNITY

Property features AI

Finance

• HOA & community: Homeowners association with monthly fee of $295; HOA covers structure maintenance, sewer, snow removal, trash and water

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Condominium; Single-story
• Construction: Brick construction; Slab foundation; Built as a condominium (year built not provided)
• Exterior features: Beach access and lake privileges to Sylvan Lake/Cass Lake; Paved road access; Pets allowed

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Baseboard heating; Hot water heating; Natural gas supply; No cooling
• Interior features: Ground-level entry; One total room

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $-128 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $97k (18.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $117k (2.7% below list).
• Recommended offer: $97k (18.9% below list) — sets the bar for cash-flow.
• Cap rate 5.0% vs local median 3.8% in Keego Harbor — 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 78/100 on livability (#110 in MI, #2,643 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D-, commute F.
• West Bloomfield School District (suburban): math 42% / reading 55% proficiency, ranked #83 of 540 in MI (top 15%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Roosevelt Elementary School (math 48% / reading 61%, grade C, #276 of 1,397 statewide, top 22%, 356 students, 49% FRL); West Bloomfield Middle School (math 46% / reading 55%, grade C, #110 of 493 statewide, top 23%, 941 students, 42% FRL); West Bloomfield High School (math 40% / reading 61%, grade D+, #146 of 713 statewide, top 21%, 1,652 students, 34% FRL) — zoned schools average 42% FRL vs 23% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 26 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $829 of loan paydown is wiped out by about $4k 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 19 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 23y 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.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.

Recommended offer $97,291 (18.9% below list)

Questions for the listing agent

1. 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?
2. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.97% ✗
• Cap rate: 5.01%
• Cash-on-cash: -4.57%
• DSCR: 0.80
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -23.9%
• Equity multiple: 0.18×
• Total profit: $-27,427
• Equity at exit: $17,877

10-year hold

• IRR: -18.5%
• Equity multiple: -0.01×
• Total profit: $-33,754
• Equity at exit: $10,367

Cash invested: $33,572 (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 48320

• Active inventory: 26
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,167 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$76 /mo · $916/yr
• Insurance: −$50
• HOA: −$295
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $-128

Break-even live

Break-even rent $1,329

Max offer price $97,291

Occupancy floor —

Sensitivity live

Price	-10% $-60	-5% $-94	+0% $-128	+5% $-162	+10% $-196
Rent	-10% $-220	-5% $-174	+0% $-128	+5% $-82	+10% $-36
Rate	-1.0pp $-68	-0.5pp $-97	base $-128	+0.5pp $-159	+1.0pp $-191

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1671 Cass Lake Rd Keego Harbor, MI	1.0	1.0	743	$1,200	$1.62	45d	1	0.02mi
3530 Denise Ct Waterford Twp, MI	1.0–2.0	1.0–1.5	890	$1,095	$1.23	0d	15	0.76mi
311 S Telegraph Rd Pontiac, MI	1.0–2.0	1.0	732	$800	$1.09	45d	1	1.46mi

HOA detail condo

• Monthly dues: $295 · $3,540/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-04
   status $119,900 Pending 19 DOM
2. 2026-06-03
   days on market $119,900 Active Under Contract 19 DOM

   Show marketing remark (509 chars)

   Affordable lake living! Charming 1-bedroom, 1-bath condo with private sandy beach access to beautiful Sylvan Lake and lake privileges on Cass Lake. Enjoy summer days at the beach, boating, and all-sports lake recreation. Great opportunity to own in a desirable lake community with endless potential. Sold AS-IS. Buyer and/or Buyer's Agent to verify all information. Seller will make no repairs. Seller's representative has limited knowledge of the property. Non-warrantable condo; specific financing required.

3. 2026-06-02
   days on market $119,900 Active Under Contract 18 DOM
4. 2026-06-01
   days on market $119,900 Active Under Contract 17 DOM
5. 2026-05-31
   days on market $119,900 Active Under Contract 16 DOM
6. 2026-05-15
   listed $119,900 Active 521-char remark

   Show marketing remark (509 chars)

   Affordable lake living! Charming 1-bedroom, 1-bath condo with private sandy beach access to beautiful Sylvan Lake and lake privileges on Cass Lake. Enjoy summer days at the beach, boating, and all-sports lake recreation. Great opportunity to own in a desirable lake community with endless potential. Sold AS-IS. Buyer and/or Buyer's Agent to verify all information. Seller will make no repairs. Seller's representative has limited knowledge of the property. Non-warrantable condo; specific financing required.

7. 2026-05-15
   listed $119,900 Active 509-char remark

   Show marketing remark (509 chars)

   Affordable lake living! Charming 1-bedroom, 1-bath condo with private sandy beach access to beautiful Sylvan Lake and lake privileges on Cass Lake. Enjoy summer days at the beach, boating, and all-sports lake recreation. Great opportunity to own in a desirable lake community with endless potential. Sold AS-IS. Buyer and/or Buyer's Agent to verify all information. Seller will make no repairs. Seller's representative has limited knowledge of the property. Non-warrantable condo; specific financing required.

8. 2006-08-03
   soldstatus $105,000
9. 2004-12-13
   soldstatus $110,000
10. 2003-07-06
    historical
11. 2003-01-06
    listed $113,500
12. 2000-09-15
    soldstatus $93,000
13. 1996-08-14
    soldstatus $49,990

ⓘ 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: $916 · $76/mo
• Projected year-2 tax: $1,381 · $115/mo
• Expected delta: +$465/yr (+$39/mo · 50.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 18% 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: $14,007
• − Mortgage interest: −$6,716
• − Property taxes: −$916
• − Insurance: −$600
• − Repairs & maintenance: −$1,121
• − Management: −$1,121
• − HOA: −$3,540
• − Depreciation: −$3,488
• Taxable loss: −$3,495
• Est. tax savings @ 24.0%: +$839
• After-tax cash flow: $-697/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: West Bloomfield School District
• NCES district ID: 2635820
• Math proficiency: 42% ▼ -6.00%
• Reading proficiency: 55% ▼ -2.00%
• Median HH income: $89,668
• Composite: 45.28/100
• National rank: #2653
• State rank: #83 of 540 in MI

Livability — Keego Harbor

• Score: 78/100
• State rank: #110
• US rank: #2643

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Keego Harbor, MI
• Population (ZIP): 4,257

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 (84%)
• Race & ethnicity: White 84% Two or more races 7% Hispanic / Latino 5% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Romanian 9% Scotch-Irish 3% Iranian 2%
• Foreign-born: 9% · Canada
• Languages at home: 89% English-only · Other Indo-European 3% Spanish 2% 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: ▼ -177.64%
• Current HPI: 201.4886
• 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

+120.0% since first listed

14 events — show timeline

• 2026-06-10 Sold (MLS) $110,000 REALCOMP
• 2026-06-10 Sold (MLS) $110,000 MiRealSource-MiMLS
• 2026-06-03 Pending — REALCOMP
• 2026-06-03 Pending — MiRealSource-MiMLS
• 2026-05-28 Contingent — MiRealSource-MiMLS
• 2026-05-28 Contingent — REALCOMP
• 2026-05-15 Listed $119,900 REALCOMP
• 2026-05-15 Listed $119,900 MiRealSource-MiMLS
• 2006-08-03 Sold (Public Records) $105,000 Public Records
• 2004-12-13 Sold (Public Records) $110,000 Public Records
• 2003-07-06 Listing Removed — REALCOMP
• 2003-01-06 Listed $113,500 REALCOMP
• 2000-09-15 Sold (Public Records) $93,000 Public Records
• 1996-08-14 Sold (Public Records) $49,990 Public Records

Property tax history

+2.2%/yr

Latest (2025): $916 · +2.3% YoY. Source: county tax records.