524 Luther Ave · Pontiac, MI 48341

$95,000

3 bd · 1.0 ba · 647 sqft · SingleFamily public records · 49 Days on market

Built 1920 4,356 sqft lot $147/sqft · at area comps Est $91k · at est.

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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).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +5.4/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity for first-time buyers or investors! This updated 2-bedroom, 1-bath home is move-in ready and offers a smart alternative to renting. Enjoy neutral newer paint throughout, easy-care luxury vinyl plank flooring, and a functional layout designed for comfortable everyday living. The home includes all kitchen appliances, plus the washer and dryer, making it even easier to settle in or prepare for your next rental opportunity. Whether you are ready to stop renting and start building equity, or you are looking to add to your investment portfolio, this home is worth a look. Sold “As-Is. ”

Key facts

• 4,356 sq ft lot
• Built 1920
• Listed 49 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level; Ground-level entry with steps
• Construction: Aluminum siding; Asphalt roof
• Exterior features: Porch; Paved road access; Lot roughly 0.1 acres (40 x 112)

Interior

• Kitchen: Gas oven; Refrigerator; Microwave; Dishwasher not listed
• Bedrooms: 4 total rooms (includes all living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Free-standing gas oven; Free-standing refrigerator; Microwave; Washer and dryer included; Crawl space basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $589 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $92k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.7% vs local median 6.7% in Pontiac — 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 64/100 on livability (#499 in MI) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: health & safety D, schools F, crime F.
• Pontiac City School District (urban): math 8% / reading 17% proficiency, ranked #514 of 540 in MI (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 81% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 100 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; 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).
• This rent runs 35% of the median local income ($51k/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 $657 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y 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: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $92,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.58% ✓
• Cap rate: 13.74%
• Cash-on-cash: 26.59%
• DSCR: 2.18
• GRM: 5.3

CMA / ARV

• ARV (median comp): $90,800
• List price: $95,000
• Delta: 4.63%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
550 Nevada Ave	0.31mi	2/1.0 (-1)	632 (-2%)	15mo	$133,500	$211	64
305 South Blvd W	0.38mi	2/1.0 (-1)	709 (+10%)	0mo	$95,000	$134	61
587 Nevada Ave	0.30mi	2/1.0 (-1)	714 (+10%)	5mo	$81,600	$114	59
460 Nevada Ave	0.32mi	2/1.0 (-1)	737 (+14%)	3mo	$100,000	$136	54
604 Montana Ave	0.39mi	2/1.0 (-1)	709 (+10%)	11mo	$109,900	$155	52
482 Nevada Ave	0.31mi	2/1.0 (-1)	729 (+13%)	24mo	$110,000	$151	40
301 Hughes Ave	0.52mi	2/1.0 (-1)	731 (+13%)	22mo	$60,000	$82	31

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.4%
• Equity multiple: 1.83×
• Total profit: $22,133
• Equity at exit: $14,165

10-year hold

• IRR: 28.6%
• Equity multiple: 3.54×
• Total profit: $67,550
• Equity at exit: $8,214

Cash invested: $26,600 (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 48341

• Active inventory: 100
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,497 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$55 /mo · $661/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $589

Break-even live

Break-even rent $750

Max offer price $95,000

Occupancy floor 56%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
460 Nebraska Ave Pontiac, MI	2.0	1.0	665	$1,050	$1.58	43d	1	0.31mi
2083 S Telegraph Rd Bloomfield Twp, MI	1.0–2.0	1.0–2.0	938	$2,200	$2.34	1d	24	0.41mi
900 Martin Luther King Jr Blvd S Pontiac, MI	1.0–2.0	1.0	800	$1,065	$1.33	5d	1	0.96mi
1240 Wagner Ave Bloomfield Hills, MI	2.0	1.0	704	$1,550	$2.20	43d	1	1.36mi

Listing history 21 events

1. 2026-06-18
   days on market $95,000 Active 49 DOM
2. 2026-06-17
   days on market $95,000 Active 48 DOM
3. 2026-06-16
   days on market $95,000 Active 47 DOM
4. 2026-06-15
   days on market $95,000 Active 46 DOM
5. 2026-06-13
   days on market $95,000 Active 44 DOM
6. 2026-06-13
   days on market $95,000 Active 43 DOM
7. 2026-06-09
   days on market $95,000 Active 40 DOM
8. 2026-06-08
   days on market $95,000 Active 39 DOM
9. 2026-06-07
   pricedays on market $95,000 Active 38 DOM
10. 2026-06-04
    days on market $99,900 Active 35 DOM
11. 2026-06-03
    days on market $99,900 Active 34 DOM
12. 2026-06-02
    days on market $99,900 Active 33 DOM
13. 2026-06-01
    days on market $99,900 Active 32 DOM
14. 2026-05-31
    days on market $99,900 Active 31 DOM
15. 2026-04-30
    listed $99,900 Active 616-char remark

    Show marketing remark (636 chars)

    Great opportunity for first-time buyers or investors! This updated 2-bedroom, 1-bath home is move-in ready and offers a smart alternative to renting. Enjoy neutral newer paint throughout, easy-care luxury vinyl plank flooring, and a functional layout designed for comfortable everyday living. The home includes all kitchen appliances, plus the washer and dryer, making it even easier to settle in or prepare for your next rental opportunity. Whether you are ready to stop renting and start building equity, or you are looking to add to your investment portfolio, this home is worth a look. Sold “As-Is. ”

16. 2026-04-30
    listed $99,900 Active 636-char remark

    Show marketing remark (636 chars)

    Great opportunity for first-time buyers or investors! This updated 2-bedroom, 1-bath home is move-in ready and offers a smart alternative to renting. Enjoy neutral newer paint throughout, easy-care luxury vinyl plank flooring, and a functional layout designed for comfortable everyday living. The home includes all kitchen appliances, plus the washer and dryer, making it even easier to settle in or prepare for your next rental opportunity. Whether you are ready to stop renting and start building equity, or you are looking to add to your investment portfolio, this home is worth a look. Sold “As-Is. ”

17. 2018-09-18
    soldstatus $580,250
18. 2015-01-27
    soldstatus $7,000

    Show marketing remark (63 chars)

    GREAT INVESTMENT OPPORTUNITY - WELL MAINTAINED INCOME PROPERTY!

19. 2015-01-27
    soldstatus $7,000

    Show marketing remark (63 chars)

    GREAT INVESTMENT OPPORTUNITY - WELL MAINTAINED INCOME PROPERTY!

20. 2014-01-24
    listed $7,900

    Show marketing remark (63 chars)

    GREAT INVESTMENT OPPORTUNITY - WELL MAINTAINED INCOME PROPERTY!

21. 2014-01-24
    listed $7,900

    Show marketing remark (63 chars)

    GREAT INVESTMENT OPPORTUNITY - WELL MAINTAINED INCOME PROPERTY!

ⓘ 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: $661 · $55/mo
• Projected year-2 tax: $1,062 · $88/mo
• Expected delta: +$401/yr (+$33/mo · 60.7%)

ⓘ 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 ≥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: $17,959
• − Mortgage interest: −$5,321
• − Property taxes: −$661
• − Insurance: −$475
• − Repairs & maintenance: −$1,437
• − Management: −$1,437
• − Depreciation: −$2,764
• Taxable income: $5,865
• Est. tax owed @ 24.0%: −$1,408
• After-tax cash flow: $5,666/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: Pontiac City School District
• NCES district ID: 2628740
• Math proficiency: 8% ▼ -5.00%
• Reading proficiency: 17% ▼ -3.00%
• Median HH income: $33,888
• Composite: 10.12/100
• National rank: #9802
• State rank: #514 of 540 in MI

Livability — Pontiac

• Score: 64/100
• State rank: #499
• US rank: #14703

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pontiac, MI
• County: Oakland County · 1,009,092 people
• City population: 44,593
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 18,924
• Household income: $51,390
• Rent vs Own: 46.6% rent · 53.4% own
• Severe rent burden: 833.0

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Black 57% White 22% Hispanic / Latino 12% Two or more races 11% Asian 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2%
• Common ancestry: Slovak 2% Romanian 1% Swiss 1%
• Foreign-born: 10% · Canada
• Languages at home: 86% English-only · Spanish 9% Other Indo-European 1% Other Asian/Pacific 1%

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: ▼ -204.11%
• Current HPI: 257.8941
• Rent YoY: —
• 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

+1102.5% since first listed

9 events — show timeline

• 2026-06-05 Price Changed $95,000 MiRealSource-MiMLS
• 2026-06-05 Price Changed $95,000 REALCOMP
• 2026-04-30 Listed $99,900 REALCOMP
• 2026-04-30 Listed $99,900 MiRealSource-MiMLS
• 2018-09-18 Sold (Public Records) $580,250 Public Records
• 2015-01-27 Sold (MLS) $7,000 MiRealSource-MiMLS
• 2015-01-27 Sold (MLS) $7,000 REALCOMP
• 2014-01-24 Listed $7,900 MiRealSource-MiMLS
• 2014-01-24 Listed $7,900 REALCOMP

Property tax history

+4.1%/yr

Latest (2025): $661 · -49.3% YoY. Source: county tax records.