30522 Oakridge Manor Dr

Roseville, MI 48066

$105,000D+

2 bd · 1.0 ba · 990 sqft · Built 1988 · Condo · Active · 35 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,310/mo
• Mortgage (P&I): −$551
• Tax + insurance: −$175
• HOA: −$225
• Vac / Maint / Mgmt: −$275
• Net cashflow: $84/mo
• Annual: $1,007/yr
• Cap rate: 7.25%
• Cash-on-cash: 3.43%
• DSCR: 1.15
• 1% rule: 1.25%
• Cash to close: $29,400

Investor read

• This is a 2-bed/1.0-bath condo listed at $105k. Condition is rated poor.
• At list price, monthly cash flow is $84 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• It's been on market 35 days — a 3% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $102k (3.0% below list) — sets the bar for market timing.
• 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.
• 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.
• Fraser Public Schools (suburban): math 31% / reading 43% proficiency, ranked #244 of 540 in MI (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 270 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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.
• 2 sale attempts since 7y ago; this cycle's ask is 51% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $70k; list at $105k implies a 51% gain — meaningful room to come down on a strong offer.
• Cap rate 7.3% vs local median 5.9% in Roseville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Questions for listing agent

• It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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?
• 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?

Repairs flagged (vision-AI assessment)

• Major: exterior siding — Significant wear and tear
• Major: roof — No visible damage, but not new
• Major: interior walls/paint — No visible walls/paint
• Major: kitchen — No visible kitchen
• Major: bathrooms — No visible bathrooms
• Major: systems — No visible systems