24563 Kings Pointe · Novi, MI 48375

$369,999

3 bd · 2.5 ba · 2,297 sqft · SingleFamily · 6 Days on market

Built 1976 7,405 sqft lot $161/sqft · 13% below area Est $427k · 13% under

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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).

• ARV discount +13.5/15.0
• Cash flow +8.1/30.0
• Schools +6.5/10.0
• Livability +4.3/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0
• 1% rule +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Conveniently located near shopping, dining, and several parks, this Novi ranch offers a functional layout, generous outdoor space, and an opportunity to make it your own. The home features an attached garage and a comfortable main living area with natural flow into the spacious eat-in kitchen, offering ample cabinet and prep space for everyday living and entertaining alike. Bedrooms are positioned with convenient access to full baths, while the lower level adds flexibility with additional rooms, laundry hookups, and substantial storage space for seasonal items, hobbies, or household essentials. Outside, the expansive back deck overlooks a large fenced yard with plenty of room to relax, entertain, garden, or enjoy time outdoors with pets. 24563 Kings Pointe presents a strong opportunity in an established Novi neighborhood where available inventory remains limited.

Key facts

• 7,405 sq ft lot
• 2 garage spots
• Pool

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level (with finished lower level); Ground-level entry with steps
• Construction: Brick and vinyl siding construction; Asphalt roof
• Exterior features: Porch; Above-ground pool; Paved road access

Interior

• Kitchen: Dishwasher; Free-standing electric range; Free-standing refrigerator; Microwave
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; Ceiling fans
• Interior features: Finished basement; Gas water heater
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $370k.

Deal economics

• At list price, monthly cash flow is $-369 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $305k (17.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $252k (31.9% below list).
• Recommended offer: $252k (31.9% below list) — sets the bar for 1% rule.
• Cap rate 5.1% vs local median 2.7% in Novi — 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 86/100 on livability (#20 in MI, #377 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: commute F.
• Novi Community School District (urban): math 73% / reading 72% proficiency, ranked #7 of 540 in MI (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 7% free/reduced lunch — higher-income household profile.
• Zoned schools: Orchard Hills Elementary School (math 72% / reading 57%, grade B, #132 of 1,397 statewide, top 11%, 410 students, 24% FRL); Novi High School (math 75% / reading 83%, grade A-, #8 of 713 statewide, top 1%, 2,101 students, 11% FRL).
• Market conditions: Rents rising (+1.7%/yr); 143 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 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 $3k of loan paydown is wiped out by about $11k 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 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 30y 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.

Recommended offer $252,140 (31.9% below list)

Questions for the listing agent

1. 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?
2. Built in 1976 — 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 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?
5. 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?
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: 0.68% ✗
• Cap rate: 5.10%
• Cash-on-cash: -4.28%
• DSCR: 0.81
• GRM: 12.2

CMA / ARV

• ARV (median comp): $427,255
• List price: $369,999
• Delta: -13.40%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
24563 Kings Pointe	0.00mi	3/2.5	2,297 (0%)	1mo	$385,000	$168	99
42025 Park Ridge Rd	0.13mi	3/2.5	2,199 (-4%)	12mo	$350,000	$159	77
24500 Hampton Hill St	0.13mi	4/2.0 (+1)	2,217 (-4%)	11mo	$400,000	$180	72
24888 Apple Crest Dr	0.34mi	4/2.5 (+1)	2,208 (-4%)	1mo	$435,000	$197	72
42009 Cherry Hill Rd	0.20mi	3/1.5	2,267 (-1%)	15mo	$370,000	$163	72
24200 Hampton Hill St	0.30mi	4/2.0 (+1)	2,408 (+5%)	1mo	$405,000	$168	70
24339 Pinecrest St	0.31mi	3/1.5	2,343 (+2%)	14mo	$396,000	$169	66
24294 Pinecrest St	0.33mi	3/1.5	2,224 (-3%)	12mo	$380,000	$171	66
24849 Highlands Dr	0.31mi	3/2.5	2,087 (-9%)	12mo	$361,000	$173	61
41944 Cherry Hill Rd	0.21mi	4/3.0 (+1)	2,488 (+8%)	11mo	$435,000	$175	60
41642 Sycamore Dr	0.56mi	3/1.5	2,375 (+3%)	12mo	$350,000	$147	54
23616 Dunston Rd	0.64mi	4/2.5 (+1)	2,400 (+4%)	10mo	$602,000	$251	49

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 · 1.68% rent growth · sell at horizon

5-year hold

• IRR: -24.9%
• Equity multiple: 0.16×
• Total profit: $-86,861
• Equity at exit: $55,168

10-year hold

• IRR: -24.8%
• Equity multiple: -0.15×
• Total profit: $-119,461
• Equity at exit: $31,991

Cash invested: $103,600 (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 48375

• Rents YoY: 1.7%
• Active inventory: 143
• Price-to-rent: 12.2×

Monthly cashflow live

• Estimated rent: $2,521 high
• Mortgage (P&I): −$1,940
• Tax from tax record: −$267 /mo · $3,200/yr
• Insurance: −$154
• HOA: −$0
• Vacancy / Maint / Mgmt: −$529
• Net cashflow: $-369

Break-even live

Break-even rent $2,989

Max offer price $304,771

Occupancy floor —

Sensitivity live

Price	-10% $-160	-5% $-265	+0% $-369	+5% $-474	+10% $-579
Rent	-10% $-568	-5% $-469	+0% $-369	+5% $-270	+10% $-170
Rate	-1.0pp $-183	-0.5pp $-275	base $-369	+0.5pp $-465	+1.0pp $-563

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: $92,500
• Closing costs: $11,100
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
25588 Portico Ln Novi, MI	3.0	2.5	1838	$2,700	$1.47	46d	1	0.41mi
41670 Tera Ln Novi, MI	3.0	2.0	1794	$1,700	$0.95	46d	1	0.50mi
25300 Constitution Novi, MI	1.0–2.0	1.0–2.5	1241	$2,344	$1.89	0d	14	0.50mi
42932 Cardinal Way Novi, MI	3.0	3.5	2730	$3,800	$1.39	1d	1	0.71mi
43355 Cliffside Ct Novi, MI	1.0–3.0	1.0–3.0	1690	$3,845	$2.28	0d	1	1.05mi

Listing history 6 events

1. 2026-05-14
   listed $369,999 Active 875-char remark

   Show marketing remark (875 chars)

   Conveniently located near shopping, dining, and several parks, this Novi ranch offers a functional layout, generous outdoor space, and an opportunity to make it your own. The home features an attached garage and a comfortable main living area with natural flow into the spacious eat-in kitchen, offering ample cabinet and prep space for everyday living and entertaining alike. Bedrooms are positioned with convenient access to full baths, while the lower level adds flexibility with additional rooms, laundry hookups, and substantial storage space for seasonal items, hobbies, or household essentials. Outside, the expansive back deck overlooks a large fenced yard with plenty of room to relax, entertain, garden, or enjoy time outdoors with pets. 24563 Kings Pointe presents a strong opportunity in an established Novi neighborhood where available inventory remains limited.

2. 2026-05-14
   listed $369,999 Active 875-char remark

   Show marketing remark (875 chars)

   Conveniently located near shopping, dining, and several parks, this Novi ranch offers a functional layout, generous outdoor space, and an opportunity to make it your own. The home features an attached garage and a comfortable main living area with natural flow into the spacious eat-in kitchen, offering ample cabinet and prep space for everyday living and entertaining alike. Bedrooms are positioned with convenient access to full baths, while the lower level adds flexibility with additional rooms, laundry hookups, and substantial storage space for seasonal items, hobbies, or household essentials. Outside, the expansive back deck overlooks a large fenced yard with plenty of room to relax, entertain, garden, or enjoy time outdoors with pets. 24563 Kings Pointe presents a strong opportunity in an established Novi neighborhood where available inventory remains limited.

3. 2026-05-12
   historical $369,999 875-char remark

   Show marketing remark (875 chars)

   Conveniently located near shopping, dining, and several parks, this Novi ranch offers a functional layout, generous outdoor space, and an opportunity to make it your own. The home features an attached garage and a comfortable main living area with natural flow into the spacious eat-in kitchen, offering ample cabinet and prep space for everyday living and entertaining alike. Bedrooms are positioned with convenient access to full baths, while the lower level adds flexibility with additional rooms, laundry hookups, and substantial storage space for seasonal items, hobbies, or household essentials. Outside, the expansive back deck overlooks a large fenced yard with plenty of room to relax, entertain, garden, or enjoy time outdoors with pets. 24563 Kings Pointe presents a strong opportunity in an established Novi neighborhood where available inventory remains limited.

4. 1996-07-12
   soldstatus $142,000
5. 1996-06-29
   soldstatus $142,000
6. 1996-04-30
   listed $144,900

ⓘ 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: $3,200 · $267/mo
• Projected year-2 tax: $4,449 · $371/mo
• Expected delta: +$1,249/yr (+$104/mo · 39.0%)

ⓘ 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 ≥97°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: $30,257
• − Mortgage interest: −$20,726
• − Property taxes: −$3,200
• − Insurance: −$1,850
• − Repairs & maintenance: −$2,421
• − Management: −$2,421
• − Depreciation: −$10,764
• Taxable loss: −$11,124
• Est. tax savings @ 24.0%: +$2,670
• After-tax cash flow: $-1,761/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: Novi Community School District
• NCES district ID: 2626130
• Math proficiency: 73% ▼ -3.00%
• Reading proficiency: 72% ▼ -1.00%
• Median HH income: $90,023
• Composite: 65.28/100
• National rank: #489
• State rank: #7 of 540 in MI

Livability — Novi

• Score: 86/100
• State rank: #20
• US rank: #377

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Novi, MI
• County: Oakland County · 1,009,092 people
• City population: 43,845
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 24,029
• Household income: $112,545
• Rent vs Own: 29.9% rent · 70.1% own
• Severe rent burden: 517.0

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 0.60)
• Race & ethnicity: White 56% Asian 27% Two or more races 7% Black 6% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 10% Lithuanian 3% Slovak 2%
• Foreign-born: 29% · China, Canada, South Korea
• Languages at home: 67% English-only · Other Asian/Pacific 12% Other Indo-European 8% Spanish 4%

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: ▼ -337.82%
• Current HPI: 166.0153
• Rent YoY: ▲ 1.68%
• 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

+165.7% since first listed

11 events — show timeline

• 2026-06-04 Sold (Public Records) $385,000 Public Records
• 2026-06-01 Sold (MLS) $385,000 REALCOMP
• 2026-06-01 Sold (MLS) $385,000 MiRealSource-MiMLS
• 2026-05-19 Pending — MiRealSource-MiMLS
• 2026-05-19 Pending — REALCOMP
• 2026-05-14 Listed $369,999 MiRealSource-MiMLS
• 2026-05-14 Listed $369,999 REALCOMP
• 2026-05-12 Coming Soon $369,999 MiRealSource-MiMLS
• 1996-07-12 Sold (Public Records) $142,000 Public Records
• 1996-06-29 Sold (MLS) $142,000 REALCOMP
• 1996-04-30 Listed $144,900 REALCOMP

Property tax history

+2.3%/yr

Latest (2025): $3,200 · +28.3% YoY. Source: county tax records.