9740 Hathaway Dr · Salem, MI 48167

$75,000

3 bd · 2.0 ba · 2,016 sqft · Other · 78 Days on market

Built 1998 4,356 sqft lot $37/sqft · 8% below area Est $81k · 8% under $836/mo HOA · 37% of rent ↓ 7% since listing

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Why this score? — see what drove the B 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 +30.0/30.0
• ARV discount +10.9/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.7/10.0
• Rent growth +3.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Price improvement! Seller motivated to take your offer! Rare perimeter lot. No property taxes. Put your tax return to good use! This vast home has been faithfully maintained for years and is ready for new life. Imagine cheerful and cozy nights filled with laughter by the natural fireplace in the living room. Craft culinary masterpieces without missing a beat in the spacious kitchen complete with prep island and window to the living room. Bliss out in a primary suite complete with connected bathroom featuring a jacuzzi tub and stand up shower. Try not to get lost trekking from the dining room to the 2 secondary bedrooms! Outside enjoy the many amenities Northville Crossing offers including; a full basketball court, playground, in-ground pool, fitness center, clubhouse with event room for parties, and RV storage. The community is pet-friendly and ideally located just minutes from downtown Northville, with easy access to Ann Arbor, Brighton, and Detroit. Schedule your showing now before the spring market brings all the buyers back! Some images virtually staged. HOA reflects site rent of 810, 7.5 trash fee, and minimum 19 water bill Reach out for a lender who can get you into this home!

Key facts

• Perimeter lot
• Prep island
• Natural fireplace

Tags

• PERIMETER LOT
• NATURAL FIREPLACE
• SPACIOUS KITCHEN
• PREP ISLAND
• CONNECTED BATHROOM
• JACUZZI TUB

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $75k.

Deal economics

• At list price, monthly cash flow is $409 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $70k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• South Lyon Community Schools (suburban): math 46% / reading 59% proficiency, ranked #74 of 540 in MI (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+4.0%/yr); 213 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 996 units permitted in Washtenaw County in 2024 (492 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Washtenaw County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $21k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $11k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 37% of rent.

Recommended offer $70,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.98% ✓
• Cap rate: 12.83%
• Cash-on-cash: 23.36%
• DSCR: 2.04
• GRM: 2.8

CMA / ARV

• ARV (median comp): $81,158
• List price: $75,000
• Delta: -7.59%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.97% rent growth · sell at horizon

5-year hold

• IRR: 19.0%
• Equity multiple: 1.79×
• Total profit: $16,625
• Equity at exit: $11,183

10-year hold

• IRR: 28.8%
• Equity multiple: 3.83×
• Total profit: $59,425
• Equity at exit: $6,485

Cash invested: $21,000 (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 48167

• Rents YoY: 4.0%
• Active inventory: 213
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $2,232 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$836
• Vacancy / Maint / Mgmt: −$469
• Net cashflow: $409

Break-even live

Break-even rent $1,714

Max offer price $75,000

Occupancy floor 77%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9800 Bloomsbury Cir Northville, MI	3.0	2.0	1456	$1,629	$1.12	3d	1	0.14mi

HOA detail

• Monthly dues: $836 · $10,032/yr
• Likely covers: watertrashpoolgym

Listing history 22 events

1. 2026-06-18
   days on market $75,000 Active 78 DOM
2. 2026-06-17
   days on market $75,000 Active 77 DOM
3. 2026-06-16
   days on market $75,000 Active 76 DOM
4. 2026-06-15
   days on market $75,000 Active 75 DOM
5. 2026-06-13
   days on market $75,000 Active 73 DOM
6. 2026-06-13
   days on market $75,000 Active 72 DOM
7. 2026-06-09
   days on market $75,000 Active 69 DOM
8. 2026-06-08
   days on market $75,000 Active 68 DOM
9. 2026-06-07
   days on market $75,000 Active 67 DOM
10. 2026-06-04
    days on market $75,000 Active 64 DOM
11. 2026-06-03
    days on market $75,000 Active 63 DOM
12. 2026-06-02
    days on market $75,000 Active 62 DOM
13. 2026-06-01
    days on market $75,000 Active 61 DOM
14. 2026-05-31
    days on market $75,000 Active 60 DOM
15. 2026-04-28
    price $79,999 1201-char remark

    Show marketing remark (1202 chars)

    Price improvement! Seller motivated to take your offer! Rare perimeter lot. No property taxes. Put your tax return to good use! This vast home has been faithfully maintained for years and is ready for new life. Imagine cheerful and cozy nights filled with laughter by the natural fireplace in the living room. Craft culinary masterpieces without missing a beat in the spacious kitchen complete with prep island and window to the living room. Bliss out in a primary suite complete with connected bathroom featuring a jacuzzi tub and stand up shower. Try not to get lost trekking from the dining room to the 2 secondary bedrooms! Outside enjoy the many amenities Northville Crossing offers including; a full basketball court, playground, in-ground pool, fitness center, clubhouse with event room for parties, and RV storage. The community is pet-friendly and ideally located just minutes from downtown Northville, with easy access to Ann Arbor, Brighton, and Detroit. Schedule your showing now before the spring market brings all the buyers back! Some images virtually staged. HOA reflects site rent of 810, 7.5 trash fee, and minimum 19 water bill Reach out for a lender who can get you into this home!

16. 2026-04-28
    price $79,999 1202-char remark

    Show marketing remark (1202 chars)

    Price improvement! Seller motivated to take your offer! Rare perimeter lot. No property taxes. Put your tax return to good use! This vast home has been faithfully maintained for years and is ready for new life. Imagine cheerful and cozy nights filled with laughter by the natural fireplace in the living room. Craft culinary masterpieces without missing a beat in the spacious kitchen complete with prep island and window to the living room. Bliss out in a primary suite complete with connected bathroom featuring a jacuzzi tub and stand up shower. Try not to get lost trekking from the dining room to the 2 secondary bedrooms! Outside enjoy the many amenities Northville Crossing offers including; a full basketball court, playground, in-ground pool, fitness center, clubhouse with event room for parties, and RV storage. The community is pet-friendly and ideally located just minutes from downtown Northville, with easy access to Ann Arbor, Brighton, and Detroit. Schedule your showing now before the spring market brings all the buyers back! Some images virtually staged. HOA reflects site rent of 810, 7.5 trash fee, and minimum 19 water bill Reach out for a lender who can get you into this home!

17. 2026-04-01
    listed $85,999 Active 1201-char remark

    Show marketing remark (1202 chars)

    Price improvement! Seller motivated to take your offer! Rare perimeter lot. No property taxes. Put your tax return to good use! This vast home has been faithfully maintained for years and is ready for new life. Imagine cheerful and cozy nights filled with laughter by the natural fireplace in the living room. Craft culinary masterpieces without missing a beat in the spacious kitchen complete with prep island and window to the living room. Bliss out in a primary suite complete with connected bathroom featuring a jacuzzi tub and stand up shower. Try not to get lost trekking from the dining room to the 2 secondary bedrooms! Outside enjoy the many amenities Northville Crossing offers including; a full basketball court, playground, in-ground pool, fitness center, clubhouse with event room for parties, and RV storage. The community is pet-friendly and ideally located just minutes from downtown Northville, with easy access to Ann Arbor, Brighton, and Detroit. Schedule your showing now before the spring market brings all the buyers back! Some images virtually staged. HOA reflects site rent of 810, 7.5 trash fee, and minimum 19 water bill Reach out for a lender who can get you into this home!

18. 2026-04-01
    listed $85,999 Active 1202-char remark

    Show marketing remark (1202 chars)

    Price improvement! Seller motivated to take your offer! Rare perimeter lot. No property taxes. Put your tax return to good use! This vast home has been faithfully maintained for years and is ready for new life. Imagine cheerful and cozy nights filled with laughter by the natural fireplace in the living room. Craft culinary masterpieces without missing a beat in the spacious kitchen complete with prep island and window to the living room. Bliss out in a primary suite complete with connected bathroom featuring a jacuzzi tub and stand up shower. Try not to get lost trekking from the dining room to the 2 secondary bedrooms! Outside enjoy the many amenities Northville Crossing offers including; a full basketball court, playground, in-ground pool, fitness center, clubhouse with event room for parties, and RV storage. The community is pet-friendly and ideally located just minutes from downtown Northville, with easy access to Ann Arbor, Brighton, and Detroit. Schedule your showing now before the spring market brings all the buyers back! Some images virtually staged. HOA reflects site rent of 810, 7.5 trash fee, and minimum 19 water bill Reach out for a lender who can get you into this home!

19. 2026-04-01
    historical

    Show marketing remark (1202 chars)

    Price improvement! Seller motivated to take your offer! Rare perimeter lot. No property taxes. Put your tax return to good use! This vast home has been faithfully maintained for years and is ready for new life. Imagine cheerful and cozy nights filled with laughter by the natural fireplace in the living room. Craft culinary masterpieces without missing a beat in the spacious kitchen complete with prep island and window to the living room. Bliss out in a primary suite complete with connected bathroom featuring a jacuzzi tub and stand up shower. Try not to get lost trekking from the dining room to the 2 secondary bedrooms! Outside enjoy the many amenities Northville Crossing offers including; a full basketball court, playground, in-ground pool, fitness center, clubhouse with event room for parties, and RV storage. The community is pet-friendly and ideally located just minutes from downtown Northville, with easy access to Ann Arbor, Brighton, and Detroit. Schedule your showing now before the spring market brings all the buyers back! Some images virtually staged. HOA reflects site rent of 810, 7.5 trash fee, and minimum 19 water bill Reach out for a lender who can get you into this home!

20. 2026-04-01
    historical

    Show marketing remark (1202 chars)

    Price improvement! Seller motivated to take your offer! Rare perimeter lot. No property taxes. Put your tax return to good use! This vast home has been faithfully maintained for years and is ready for new life. Imagine cheerful and cozy nights filled with laughter by the natural fireplace in the living room. Craft culinary masterpieces without missing a beat in the spacious kitchen complete with prep island and window to the living room. Bliss out in a primary suite complete with connected bathroom featuring a jacuzzi tub and stand up shower. Try not to get lost trekking from the dining room to the 2 secondary bedrooms! Outside enjoy the many amenities Northville Crossing offers including; a full basketball court, playground, in-ground pool, fitness center, clubhouse with event room for parties, and RV storage. The community is pet-friendly and ideally located just minutes from downtown Northville, with easy access to Ann Arbor, Brighton, and Detroit. Schedule your showing now before the spring market brings all the buyers back! Some images virtually staged. HOA reflects site rent of 810, 7.5 trash fee, and minimum 19 water bill Reach out for a lender who can get you into this home!

21. 2025-12-19
    listed $85,999 Active
22. 2025-12-19
    listed $85,999 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $26,780
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$2,142
• − Management: −$2,142
• − HOA: −$10,032
• − Depreciation: −$2,182
• Taxable income: $4,580
• Est. tax owed @ 24.0%: −$1,099
• After-tax cash flow: $3,805/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: South Lyon Community Schools
• NCES district ID: 2632250
• Math proficiency: 46% ▼ -10.00%
• Reading proficiency: 59% ▼ -4.00%
• Median HH income: $71,419
• Composite: 46.86/100
• National rank: #2372
• State rank: #74 of 540 in MI

Livability — Salem

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Wayne County · 1,562,939 people
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 24,713
• Household income: $124,630
• Rent vs Own: 25.9% rent · 74.1% own
• Severe rent burden: 441.0

Population outlook (Washtenaw County) Hauer SSP2

• Today (2025): 402,878 people
• By 2030: 424,104 · +5.3%
• By 2040: 464,633 · +15.3%
• By 2050: 504,728 · +25.3%
• By 2075: 614,463 · +52.5%
• By 2100: 676,181 · +67.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Asian 10% Two or more races 5% Hispanic / Latino 4% Black 4%
• Common ancestry: Romanian 11% Lithuanian 4% Slovak 3%
• Foreign-born: 15% · Canada, China, South Korea
• Languages at home: 85% English-only · Other Indo-European 4% Other Asian/Pacific 3% Chinese 2%

Political lean MEDSL · Washtenaw

• 2024 margin: Solid D (+44.4) · D 71.0% · R 26.6% · Other 2.4%
• 2008→2024 swing: +3.5pp toward D · 2008: 41.0pp · 2024: 44.4pp
• All cycles: 2024: D+44.4 2020: D+46.6 2016: D+41.5 2012: D+36.0 2008: D+41.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -275.65%
• Current HPI: 176.171
• Rent YoY: ▲ 3.97%
• 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

-7.0% since first listed

8 events — show timeline

• 2026-04-28 Price Changed $79,999 MiRealSource-MiMLS
• 2026-04-28 Price Changed $79,999 REALCOMP
• 2026-04-01 Listing Removed — REALCOMP
• 2026-04-01 Listing Removed — MiRealSource-MiMLS
• 2026-04-01 Listed $85,999 REALCOMP
• 2026-04-01 Listed $85,999 MiRealSource-MiMLS
• 2025-12-19 Listed $85,999 REALCOMP
• 2025-12-19 Listed $85,999 MiRealSource-MiMLS