38 Cadillac St · Pontiac, MI 48342

$145,000

5 bd · 2.0 ba · 2,708 sqft · SingleFamily public records · 13 Days on market

Built 1920 4,792 sqft lot

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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 +25.5/30.0
• DSCR +8.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• 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

Great 2-unit building. Separate gas and electric. Owner pays water. approx $100.00 a month.

Key facts

• 4,792 sq ft lot
• Built 1920
• Listed 13 days

Property features AI

Finance

• Other: Property type listed as residential income (multi-family)
• Financial info: One unit currently rents for $850

Exterior

• Utilities: Public water; Public sewer
• Home design: Multi-family residential property; Two-story building; Residential zoning
• Construction: Brick construction; Block foundation; Built area: 1,811 finished square feet (above grade)
• Exterior features: Front porch

Interior

• Bedrooms: Two 2-bedroom units
• Bathrooms: Each unit has 1 full bathroom (2 full bathrooms total)
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $340 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Cap rate 9.1% 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: 87 active listings in the ZIP; 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 $1k 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.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 17 sale attempts since 16y 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.
• Current owner paid $125k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,000

Questions for the listing agent

1. Built in 1920 — 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: 1.18% ✓
• Cap rate: 9.11%
• Cash-on-cash: 10.05%
• DSCR: 1.45
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $338,500
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
391 Lake Shore Dr	0.49mi	4/2.5 (-1)	2,557 (-6%)	7mo	$348,000	$136	55
415 Lake Laura Dr	0.41mi	4/2.5 (-1)	2,436 (-10%)	9mo	$350,000	$144	50
302 Shari St	0.74mi	5/3.0	2,902 (+7%)	0mo	$322,000	$111	49
295 Payne Ave	0.58mi	4/2.5 (-1)	2,482 (-8%)	14mo	$310,000	$125	40
10 Legrande Ave	0.42mi	4/3.0 (-1)	2,444 (-10%)	24mo	$249,900	$102	35

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: -1.2%
• Equity multiple: 0.96×
• Total profit: $-1,806
• Equity at exit: $21,620

10-year hold

• IRR: 8.5%
• Equity multiple: 1.65×
• Total profit: $26,450
• Equity at exit: $12,537

Cash invested: $40,600 (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 48342

• Home prices YoY: -33.8%
• Active inventory: 87
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,715 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$194 /mo · $2,331/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $340

Break-even live

Break-even rent $1,285

Max offer price $145,000

Occupancy floor 75%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-07
   statusdays on market $145,000 Pending 13 DOM
2. 2026-06-04
   days on market $145,000 Active 12 DOM
3. 2026-06-03
   days on market $145,000 Active 11 DOM
4. 2026-06-02
   days on market $145,000 Active 10 DOM
5. 2026-06-01
   days on market $145,000 Active 9 DOM
6. 2026-05-31
   days on market $145,000 Active 8 DOM
7. 2026-05-23
   listed $145,000 Active 91-char remark

   Show marketing remark (91 chars)

   Great 2-unit building. Separate gas and electric. Owner pays water. approx $100.00 a month.

8. 2026-05-23
   listed $145,000 Active

   Show marketing remark (91 chars)

   Great 2-unit building. Separate gas and electric. Owner pays water. approx $100.00 a month.

9. 2022-06-15
   soldstatus $125,000 Sold 4-char remark

   Show marketing remark (4 chars)

   LSSD

10. 2022-06-15
    historical 4-char remark

    Show marketing remark (4 chars)

    LSSD

11. 2022-06-15
    soldstatus $125,000

    Show marketing remark (4 chars)

    LSSD

12. 2022-06-15
    listed $125,000 4-char remark

    Show marketing remark (4 chars)

    LSSD

13. 2022-06-15
    listed $125,000

    Show marketing remark (4 chars)

    LSSD

14. 2022-05-31
    soldstatus $74,000
15. 2022-04-12
    historical
16. 2022-03-31
    status Pending
17. 2022-03-31
    status Pending
18. 2022-03-24
    historical
19. 2022-03-18
    historical Accepting Backup Offers
20. 2022-03-18
    historical Accepting Backup Offers
21. 2022-03-14
    listed $140,000 Active
22. 2022-03-14
    listed $140,000 Active
23. 2020-10-21
    soldstatus $74,000
24. 2020-05-18
    soldstatus $74,000 Sold
25. 2020-05-18
    soldstatus $74,000 Closed
26. 2020-05-04
    status Pending
27. 2020-05-04
    status Pending
28. 2020-04-10
    status Active
29. 2020-04-10
    status Active
30. 2020-03-12
    historical Accepting Backup Offers
31. 2020-03-12
    historical Accepting Backup Offers
32. 2020-03-10
    listed $85,000 Active
33. 2020-03-10
    listed $85,000 Active
34. 2018-11-16
    soldstatus $40,000 Sold
35. 2018-11-16
    soldstatus $40,000 Closed
36. 2018-11-15
    status Pending
37. 2018-11-14
    status Pending
38. 2018-11-10
    price $49,000
39. 2018-11-09
    price $49,000
40. 2018-10-31
    listed $59,900 Active
41. 2018-10-31
    listed $59,900 Active
42. 2018-01-29
    historical
43. 2018-01-29
    historical
44. 2018-01-04
    status Active
45. 2018-01-04
    status Active
46. 2017-12-27
    status Pending
47. 2017-12-27
    status Pending
48. 2017-12-11
    price $42,000
49. 2017-12-11
    price $42,000
50. 2017-12-05
    price $48,000

ⓘ 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: $2,331 · $194/mo
• Projected year-2 tax: $2,331 · $194/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 ≥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: $20,583
• − Mortgage interest: −$8,122
• − Property taxes: −$2,331
• − Insurance: −$725
• − Repairs & maintenance: −$1,647
• − Management: −$1,647
• − Depreciation: −$4,218
• Taxable income: $1,894
• Est. tax owed @ 24.0%: −$454
• After-tax cash flow: $3,626/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
• City population: 44,593
• Population (ZIP): 17,227

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 0.62)
• Race & ethnicity: Black 57% Hispanic / Latino 19% White 13% Two or more races 13% Asian 4%
• Hispanic origin (detail): Mexican 11% Puerto Rican 2%
• Common ancestry: Romanian 1% Lithuanian 1% Italian 1%
• Foreign-born: 10% · Canada, Vietnam
• Languages at home: 79% English-only · Spanish 15% Other Asian/Pacific 4% Other Indo-European 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: ▼ -109.18%
• Current HPI: 214.3258
• 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

Price history

+95.9% since first listed

54 events — show timeline

• 2026-05-23 Listed $145,000 REALCOMP
• 2026-05-23 Listed $145,000 MiRealSource-MiMLS
• 2022-06-15 Listed $125,000 MiRealSource-MiMLS
• 2022-06-15 Listed $125,000 REALCOMP
• 2022-06-15 Sold (MLS) $125,000 MiRealSource-MiMLS
• 2022-06-15 Listing Removed — REALCOMP
• 2022-06-15 Sold (MLS) $125,000 REALCOMP
• 2022-05-31 Sold (Public Records) $74,000 Public Records
• 2022-04-12 Listing Removed — REALCOMP
• 2022-03-31 Pending — MiRealSource-MiMLS
• 2022-03-31 Pending — REALCOMP
• 2022-03-24 Listing Removed — MiRealSource-MiMLS
• 2022-03-18 Contingent — MiRealSource-MiMLS
• 2022-03-18 Contingent — REALCOMP
• 2022-03-14 Listed $140,000 MiRealSource-MiMLS
• 2022-03-14 Listed $140,000 REALCOMP
• 2020-10-21 Sold (Public Records) $74,000 Public Records
• 2020-05-18 Sold (MLS) $74,000 MiRealSource-MiMLS
• 2020-05-18 Sold (MLS) $74,000 REALCOMP
• 2020-05-04 Pending — MiRealSource-MiMLS
• 2020-05-04 Pending — REALCOMP
• 2020-04-10 Relisted — MiRealSource-MiMLS
• 2020-04-10 Relisted — REALCOMP
• 2020-03-12 Contingent — MiRealSource-MiMLS
• 2020-03-12 Contingent — REALCOMP
• 2020-03-10 Listed $85,000 MiRealSource-MiMLS
• 2020-03-10 Listed $85,000 REALCOMP
• 2018-11-16 Sold (MLS) $40,000 MiRealSource-MiMLS
• 2018-11-16 Sold (MLS) $40,000 REALCOMP
• 2018-11-15 Pending — MiRealSource-MiMLS
• 2018-11-14 Pending — REALCOMP
• 2018-11-10 Price Changed $49,000 MiRealSource-MiMLS
• 2018-11-09 Price Changed $49,000 REALCOMP
• 2018-10-31 Listed $59,900 MiRealSource-MiMLS
• 2018-10-31 Listed $59,900 REALCOMP
• 2018-01-29 Listing Removed — REALCOMP
• 2018-01-29 Listing Removed — MiRealSource-MiMLS
• 2018-01-04 Relisted — MiRealSource-MiMLS
• 2018-01-04 Relisted — REALCOMP
• 2017-12-27 Pending — MiRealSource-MiMLS
• 2017-12-27 Pending — REALCOMP
• 2017-12-11 Price Changed $42,000 MiRealSource-MiMLS
• 2017-12-11 Price Changed $42,000 REALCOMP
• 2017-12-05 Price Changed $48,000 MiRealSource-MiMLS
• 2017-12-04 Price Changed $48,000 REALCOMP
• 2017-12-02 Price Changed $50,000 MiRealSource-MiMLS
• 2017-12-01 Price Changed $50,000 REALCOMP
• 2017-11-28 Price Changed $54,900 MiRealSource-MiMLS
• 2017-11-27 Price Changed $54,900 REALCOMP
• 2017-11-20 Listed $58,000 MiRealSource-MiMLS
• 2017-11-20 Listed $58,000 REALCOMP
• 2011-05-23 Sold (MLS) $8,000 MiRealSource-MiMLS
• 2010-12-10 Listed $10,000 MiRealSource-MiMLS
• 2004-07-15 Sold (Public Records) $74,000 Public Records

Property tax history

+8.5%/yr

Latest (2025): $2,331 · +2.7% YoY. Source: county tax records.