17300 Buckingham Ave

Beverly Hills, MI 48025

$419,000C-

3 bd · 1.5 ba · 2,474 sqft · Built 1953 · SingleFamily · Active · 18 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,655/mo
• Mortgage (P&I): −$2,197
• Tax + insurance: −$723
• HOA: −$0
• Vac / Maint / Mgmt: −$767
• Net cashflow: $-34/mo
• Annual: $-403/yr
• Cap rate: 6.20%
• Cash-on-cash: -0.34%
• DSCR: 0.98
• 1% rule: 0.87%
• Cash to close: $117,320

Investor read

• This is a 3-bed/1.5-bath single-family listed at $419k.
• At list price, monthly cash flow is $-34 ($-403/yr) — negative.
• To cash-flow at today's rent, offer at most $413k (1.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $365k (12.8% below list).
• It's been on market 18 days — a 2% lower offer ($413k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $365k (12.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Location reads 84/100 on livability (#38 in MI, #791 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, cost of living D-, health & safety F.
• Birmingham Public Schools (suburban): math 58% / reading 71% proficiency, ranked #18 of 540 in MI (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 6% free/reduced lunch — higher-income household profile.
• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 94 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 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.
• 4 sale attempts since 6y 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.
• Current owner paid $69k; list at $419k implies a 507% gain — meaningful room to come down on a strong offer.
• Cap rate 6.2% vs local median 2.9% in Beverly 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.

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 1953 — 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 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?
• 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.