9171 Holmes St · Wolverine Lake, MI 48386

$139,900

3 bd · 1.5 ba · 2,082 sqft · SingleFamily public records · 3 Days on market

Built 1971 7,841 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fantastic opportunity on this ranch home in desirable White Lake! This 3-bedroom, 2 full bath home is ready for someone to bring their vision and make it their own. Featuring a spacious layout with a huge primary suite, convenient main-floor laundry, and a bright four-season room, this home offers tremendous potential. The basement provides plenty of storage space, while the attached 2-car garage is an added bonus. Please note: The property is being sold as-is. The water is currently shut off. The pipes froze approximately 5 years ago and have not been repaired. Be sure to check out the 3D tour for a virtual walkthrough, and call today for a private showing!

Key facts

• Ranch home
• Four-season room
• Primary suite

Tags

• RANCH HOME
• SPACIOUS LAYOUT
• PRIMARY SUITE
• MAIN-FLOOR LAUNDRY
• FOUR-SEASON ROOM
• STORAGE SPACE

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Private well water; Septic tank
• Home design: Single family residence; One story; Ground-level entry with steps
• Construction: Aluminum and vinyl siding; Asphalt roof
• Exterior features: Gravel and dirt road access; 80 x 100 lot

Interior

• Kitchen: Dishwasher; Free-standing gas range; Free-standing refrigerator
• Bedrooms: 7 total rooms (bedroom count not specified)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Ceiling fans; Wall cooling units
• Interior features: Gas water heater; Disposal; Partial unfinished basement
• Laundry & utility: Dedicated laundry room; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $140k).
• Cap rate 16.6% vs local median 3.7% in Wolverine Lake — 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 73/100 on livability (#204 in MI) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: schools D, amenities F, commute F.
• Walled Lake Consolidated Schools (suburban): math 52% / reading 60% proficiency, ranked #58 of 540 in MI (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: 145 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).
• This rent runs 38% of the median local income ($90k/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 $967 of loan paydown is wiped out by about $4k 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 $39k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Recommended offer $139,900

Questions for the listing agent

1. Built in 1971 — 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 D-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. 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.
5. 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.
6. 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: 2.05% ✓
• Cap rate: 16.58%
• Cash-on-cash: 36.73%
• DSCR: 2.63
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $422,646
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9198 Ashdown Ave	0.26mi	3/2.0	2,027 (-3%)	3mo	$300,000	$148	79
9160 Maplewood Dr	0.15mi	3/1.0	1,990 (-4%)	9mo	$225,000	$113	76
1209 Applewood Dr	0.22mi	3/1.5	2,156 (+4%)	10mo	$207,000	$96	76
1140 Round Lake Rd	0.17mi	3/1.0	1,950 (-6%)	5mo	$231,000	$118	75
9125 Mandon Rd	0.18mi	3/1.0	1,954 (-6%)	10mo	$263,000	$135	71
8708 Sawgrass Ln	0.25mi	3/2.5	2,010 (-4%)	12mo	$490,000	$244	69
837 Preserve Ln	0.41mi	3/2.5	1,992 (-4%)	8mo	$700,000	$351	63
915 Preserve Ln	0.30mi	3/2.5	1,901 (-9%)	5mo	$575,000	$302	63
9770 Cedar Island Rd	0.54mi	3/1.5	2,328 (+12%)	9mo	$340,000	$146	48
9431 Mandon Rd	0.33mi	4/2.5 (+1)	2,318 (+11%)	11mo	$550,000	$237	48
9842 Cedar Island Rd	0.68mi	3/2.0	1,801 (-14%)	1mo	$430,000	$239	43
8569 Cooley Beach Dr	0.67mi	2/1.0 (-1)	1,886 (-9%)	11mo	$382,000	$203	37

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: 32.6%
• Equity multiple: 2.37×
• Total profit: $53,804
• Equity at exit: $20,860

10-year hold

• IRR: 39.7%
• Equity multiple: 4.72×
• Total profit: $145,616
• Equity at exit: $12,096

Cash invested: $39,172 (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 48386

• Active inventory: 145
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $2,869 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$276 /mo · $3,310/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$603
• Net cashflow: $1,199

Break-even live

Break-even rent $1,352

Max offer price $139,900

Occupancy floor 53%

Sensitivity live

Price	-10% $1,278	-5% $1,239	+0% $1,199	+5% $1,159	+10% $1,120
Rent	-10% $972	-5% $1,086	+0% $1,199	+5% $1,312	+10% $1,426
Rate	-1.0pp $1,270	-0.5pp $1,235	base $1,199	+0.5pp $1,163	+1.0pp $1,126

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
336 Rustic Cir White Lake, MI	3.0	1.0	1562	$2,450	$1.57	3d	1	1.00mi
8020 Wadi White Lake, MI	1.0–2.0	1.0–2.0	1352	$3,150	$2.33	0d	16	1.08mi
486 Charlevoix St Commerce Township, MI	3.0	2.0	1740	$3,500	$2.01	0d	1	1.48mi

Listing history 4 events

1. 2026-06-15
   statusdays on market $139,900 Pending 3 DOM
2. 2026-06-13
   days on market $139,900 Active 2 DOM
3. 2026-06-13
   remarks 666-char remark
4. 2026-06-13
   listed $139,900 Active 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: $3,310 · $276/mo
• Projected year-2 tax: $3,310 · $276/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥95°F today · 14 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: $34,432
• − Mortgage interest: −$7,837
• − Property taxes: −$3,310
• − Insurance: −$700
• − Repairs & maintenance: −$2,755
• − Management: −$2,755
• − Depreciation: −$4,070
• Taxable income: $13,008
• Est. tax owed @ 24.0%: −$3,122
• After-tax cash flow: $11,267/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: Walled Lake Consolidated Schools
• NCES district ID: 2635160
• Math proficiency: 52% ▼ -4.00%
• Reading proficiency: 60% ▼ -1.00%
• Median HH income: $69,184
• Composite: 49.57/100
• National rank: #1987
• State rank: #58 of 540 in MI

Livability — Wolverine Lake

• Score: 73/100
• State rank: #204
• US rank: #5186

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Oakland County · 1,009,092 people
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 17,856
• Household income: $89,702
• Rent vs Own: 16.7% rent · 83.3% own
• Severe rent burden: 664.0

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: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 6% Hispanic / Latino 4% Black 1%
• Common ancestry: Romanian 12% Lithuanian 6% Slovak 4%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · Russian/Polish/Slavic 2% Spanish 1% Arabic 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: ▼ -269.78%
• Current HPI: 207.917
• 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

+81.7% since first listed

4 events — show timeline

• 2026-06-11 Listed $139,900 MiRealSource-MiMLS
• 2026-06-11 Listed $139,900 REALCOMP
• 1998-11-16 Sold (Public Records) $122,000 Public Records
• 1992-03-27 Sold (Public Records) $77,000 Public Records

Property tax history

+2.8%/yr

Latest (2025): $3,310 · +4.8% YoY. Source: county tax records.