274 Toucan 274 · Rochester Hills, MI 48309

$41,499

2 bd · 2.0 ba · 960 sqft · Manufactured · 28 Days on market

Built 2026 Fair condition

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to our Age 55+ Community! This a charming home with a wonderful yard for summer entertaining! Love the galley kitchen with all appliances, including a gas stove! Relax in the great room and stream your favorite shows on your big screen TV. Ensuite primary bedroom with bath. Style the second bedroom as an office, TV den, or craft room. Laundry room. Central A/C. Shed on site (add $50/mo).

Key facts

• Shed on site
• Galley kitchen
• Laundry room

Tags

• GALLEY KITCHEN
• GREAT ROOM
• ENSUITE PRIMARY BEDROOM
• LAUNDRY ROOM
• CENTRAL A/C
• SHED ON SITE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $41k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $41k).
• Recommended offer: $41k (1.5% below list) — sets the bar for market timing.
• Cap rate 50.8% vs local median 2.9% in Rochester 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.

Location & tenants

• Location reads 77/100 on livability (#127 in MI, #3,163 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Avondale School District (suburban): math 34% / reading 48% proficiency, ranked #162 of 540 in MI (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 155 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $287 of loan paydown is wiped out by about $1k 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 $12k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($41k) is reasonable based on typical stale-listing flexibility.

Recommended offer $40,876 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 5.57% ✓
• Cap rate: 50.77%
• Cash-on-cash: 158.86%
• DSCR: 8.07
• GRM: 1.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 8.86×
• Total profit: $91,282
• Equity at exit: $6,188

10-year hold

• IRR: —
• Equity multiple: 18.71×
• Total profit: $205,783
• Equity at exit: $3,588

Cash invested: $11,620 (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 48309

• Active inventory: 155
• Price-to-rent: 1.5×

Monthly cashflow live

• Estimated rent: $2,310 medium
• Mortgage (P&I): −$218
• Tax est. 1.5%: −$52 /mo · $622/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$485
• Net cashflow: $1,538

Break-even live

Break-even rent $363

Max offer price $41,499

Occupancy floor 28%

Sensitivity live

Price	-10% $1,567	-5% $1,553	+0% $1,538	+5% $1,524	+10% $1,510
Rent	-10% $1,356	-5% $1,447	+0% $1,538	+5% $1,630	+10% $1,721
Rate	-1.0pp $1,559	-0.5pp $1,549	base $1,538	+0.5pp $1,527	+1.0pp $1,517

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: $10,375
• Closing costs: $1,245
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2600 W Auburn Rd Rochester Hills, MI	2.0–3.0	2.0	1264	$1,309	$1.04	6d	1	0.38mi
2450 Norfolk Unit 4104 Rochester Hills, MI	1.0	1.0	1000	$1,590	$1.59	22d	1	0.57mi
2900 W Hamlin Rd Rochester Hills, MI	1.0–3.0	1.0–2.5	1248	$2,710	$2.17	0d	39	0.59mi
3190 Fallen Oaks Ct Rochester Hills, MI	1.0	1.0	950	$3,180	$3.35	44d	1	1.23mi

Listing history 2 events

1. 2026-05-12
   price $41,499 384-char remark
2. 2026-05-02
   listed $40,499 Active 384-char remark

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,722
• − Mortgage interest: −$2,325
• − Property taxes: −$622
• − Insurance: −$207
• − Repairs & maintenance: −$2,218
• − Management: −$2,218
• − Depreciation: −$1,207
• Taxable income: $18,925
• Est. tax owed @ 24.0%: −$4,542
• After-tax cash flow: $13,917/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.

Condition & rehab AI · 1 photo

Fair 45/100 Moderate rehab

This manufactured home requires moderate repairs and maintenance, with a focus on the deck and exterior paint. Upgrades to these areas can significantly enhance its resale and rental value.

Repairs flagged

• Minor Deck — Worn steps and boards
• Minor Landscaping — Some overgrown areas

Value-add opportunities

• Resale Paint exterior — Fresh paint enhances curb appeal
• Rental Replace deck boards — A new deck improves functionality and appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
Deck · Worn steps and boards	Minor	$500–3,000
Landscaping · Some overgrown areas	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Resale Paint exterior — Fresh paint enhances curb appeal ↑
• Rental Replace deck boards — A new deck improves functionality and appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Avondale School District
• NCES district ID: 2603690
• Math proficiency: 34% ▼ -8.00%
• Reading proficiency: 48% ▼ -4.00%
• Median HH income: $71,549
• Composite: 37.33/100
• National rank: #4442
• State rank: #162 of 540 in MI

Livability — Rochester Hills

• Score: 77/100
• State rank: #127
• US rank: #3163

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rochester Hills, MI
• City population: 44,714
• Population (ZIP): 30,254

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: Predominantly White (75%)
• Race & ethnicity: White 75% Asian 12% Two or more races 6% Hispanic / Latino 4% Black 4%
• Common ancestry: Romanian 10% Lithuanian 3% Slovak 3%
• Foreign-born: 19% · Canada, China, South Korea
• Languages at home: 80% English-only · Other Indo-European 6% Chinese 3% Russian/Polish/Slavic 2%

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: ▼ -136.99%
• Current HPI: 201.9197
• Rent YoY: —
• Metro: —
• 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