135 Wenonah Dr · Pontiac, MI 48341

$199,999

3 bd · 1.0 ba · 2,404 sqft · SingleFamily public records · 14 Days on market

Built 1931 8,276 sqft lot Est $243k · 18% under

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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 +19.1/30.0
• ARV discount +15.0/15.0
• DSCR +6.0/10.0
• 1% rule +4.3/10.0
• 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

NICE 3 BEDROOM BRICK COLONIAL IN HISTORIC AREA. THIS PROPERTY IS CORPORATE OWNED. BUYER/BUYER'S AGENT TO VERIFY ALL INFORMATION. ALL MEASUREMENTS ARE APPROXIMATE. BUYER'S AGENT TO CALL LISTING OFFICE FOR ADDENDUMS. . EARNEST MONEY DEPOTS TO BE HELD BY THE LISTING OFFICE. PLEASE CONTACT LISTING OFFICE/AGENT FOR MORE INFORMATION.

Key facts

• 8,276 sq ft lot
• 2 garage spots
• Built 1931

Property features AI

Exterior

• Parking: Attached 2-car garage (approx. 25 x 20)
• Utilities: Public water; Natural gas; Forced air heating
• Home design: Residential 2-story house; Built in 1931; Basement foundation
• Construction: Brick construction; Basement foundation; Built in 1931
• Exterior features: Brick exterior; Paved street access; Frontage approx. 40

Interior

• Kitchen: Kitchen on entry level approximately 9 x 15 with ceramic floor; Dining room on entry level approximately 10 x 12 with wood floor
• Bedrooms: Three bedrooms located on the second floor; Primary bedroom approx. 12 x 18 with wood floors; Second bedroom approx. 12 x 11 with carpet; Third bedroom approx. 13 (width listed) with wood floors
• Flooring: Wood floors in living room, dining room, and two bedrooms; Carpet in one bedroom; Ceramic tile in kitchen and bathrooms
• Bathrooms: Two full bathrooms (three total baths/lavatories); Entry-level lavatory (ceramic floor) approximately 7 x 5; Second-floor bathroom with ceramic floors approximately 14 x 12; Second-floor second bathroom with ceramic floors approximately 10 x 12
• Heating & cooling: Natural gas heating (forced air)
• Interior features: Partially finished basement
• Laundry & utility: Basement present (partially finished)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $213 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (7.4% below list).
• Recommended offer: $185k (7.4% below list) — sets the bar for 1% rule.
• Cap rate 7.6% vs local median 5.4% 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; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d 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).
• This rent runs 43% 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 $1k of loan paydown is wiped out by about $6k 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

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 20y ago; this cycle's ask is 51% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $132k; list at $200k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1931 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $185,234 (7.4% below list)

Questions for the listing agent

1. Built in 1931 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.93% ✗
• Cap rate: 7.57%
• Cash-on-cash: 4.56%
• DSCR: 1.20
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $242,804
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
486 W Iroquois Rd	0.34mi	4/1.5 (+1)	2,332 (-3%)	1mo	$235,000	$101	71
14 Utica Rd	0.46mi	3/1.5	2,385 (-1%)	5mo	$199,000	$83	71
142 Ottawa Dr	0.48mi	4/1.5 (+1)	2,472 (+3%)	3mo	$351,000	$142	64
119 N Genesee Ave	0.55mi	3/1.5	2,476 (+3%)	7mo	$133,000	$54	61
132 Illinois Ave	0.03mi	3/2.0	2,044 (-15%)	10mo	$232,750	$114	61
1057 La Salle Ave	0.59mi	3/2.5	2,350 (-2%)	6mo	$215,000	$91	58
281 Draper Ave	0.40mi	2/1.0 (-1)	2,137 (-11%)	6mo	$225,000	$105	53
166 Cherokee Rd	0.39mi	4/2.0 (+1)	2,640 (+10%)	5mo	$248,000	$94	52
238 Oneida St	0.65mi	3/2.0	2,618 (+9%)	6mo	$205,000	$78	46
1047 Lakeview St	0.45mi	2/2.0 (-1)	2,080 (-14%)	4mo	$213,500	$103	44
130 Calvert Ave	0.60mi	4/2.0 (+1)	2,171 (-10%)	4mo	$235,555	$109	43
162 N Genesee Ave	0.64mi	3/2.0	2,050 (-15%)	0mo	$200,000	$98	42

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: -9.2%
• Equity multiple: 0.66×
• Total profit: $-18,908
• Equity at exit: $29,821

10-year hold

• IRR: 0.2%
• Equity multiple: 1.01×
• Total profit: $772
• Equity at exit: $17,292

Cash invested: $56,000 (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 48341

• Active inventory: 100
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,852 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$118 /mo · $1,421/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $213

Break-even live

Break-even rent $1,583

Max offer price $199,999

Occupancy floor 84%

Sensitivity live

Price	-10% $326	-5% $269	+0% $213	+5% $156	+10% $100
Rent	-10% $66	-5% $140	+0% $213	+5% $286	+10% $359
Rate	-1.0pp $314	-0.5pp $264	base $213	+0.5pp $161	+1.0pp $108

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5 Wenonah Dr Pontiac, MI	4.0	1.5	1749	$2,000	$1.14	45d	1	0.23mi
74 E Iroquois Rd Pontiac, MI	3.0	1.0	1661	$1,695	$1.02	25d	1	0.56mi
1056 Berwick Blvd Pontiac, MI	4.0	2.5	2600	$1,950	$0.75	45d	1	0.73mi

Listing history 12 events

1. 2026-06-21
   days on market $199,999 Active 14 DOM
2. 2026-06-18
   days on market $199,999 Active 11 DOM
3. 2026-06-17
   days on market $199,999 Active 10 DOM
4. 2026-06-16
   days on market $199,999 Active 9 DOM
5. 2026-06-15
   days on market $199,999 Active 8 DOM
6. 2026-06-13
   days on market $199,999 Active 6 DOM
7. 2026-06-13
   days on market $199,999 Active 5 DOM
8. 2026-06-09
   days on market $199,999 Active 2 DOM
9. 2026-06-08
   statusdays on marketlisting id $199,999 Active 1 DOM
10. 2026-06-07
    days on market $199,999 Coming Soon 4 DOM
11. 2026-06-04
    remarks 608-char remark
12. 2026-06-04
    listed $199,999 Coming Soon 1 DOM

ⓘ 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: $1,421 · $118/mo
• Projected year-2 tax: $2,250 · $188/mo
• Expected delta: +$830/yr (+$69/mo · 58.4%)

ⓘ 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: $22,228
• − Mortgage interest: −$11,203
• − Property taxes: −$1,421
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,778
• − Management: −$1,778
• − Depreciation: −$5,818
• Taxable loss: −$770
• Est. tax savings @ 24.0%: +$185
• After-tax cash flow: $2,738/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

+257.1% since first listed

12 events — show timeline

• 2026-06-03 Coming Soon $199,999 MiRealSource-MiMLS
• 2006-10-25 Sold (MLS) $132,000 MiRealSource-MiMLS
• 2006-10-25 Sold (MLS) $132,000 REALCOMP
• 2006-09-06 Listing Removed — MiRealSource-MiMLS
• 2006-08-31 Listing Removed — REALCOMP
• 2006-08-31 Listed $132,500 REALCOMP
• 2006-07-26 Listed $137,900 REALCOMP
• 2006-07-25 Listed $132,500 MiRealSource-MiMLS
• 2001-03-14 Sold (Public Records) $182,500 Public Records
• 1996-04-12 Sold (Public Records) $145,000 Public Records
• 1991-02-25 Sold (Public Records) $55,500 Public Records
• 1983-08-18 Sold (Public Records) $56,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $1,421 · +2.9% YoY. Source: county tax records.