Draper Plan · Saline, MI 48176

$487,900

4 bd · 2.5 ba · 2,589 sqft · SingleFamily · 880 Days on market

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Why this score? — see what drove the F 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 +7.5/30.0
• ARV discount +7.5/15.0
• Schools +5.9/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• DSCR +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Our brand-new Draper floorplan is the one you have been searching for! With 2,589 square feet of living space, this home is truly a hit.

Key facts

• 2 garage spots
• Listed 880 days

🏗️ New construction. The $487,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $538,942.

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $488k.

Deal economics

• At list price, monthly cash flow is $-670 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $442k (9.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $387k (20.7% below list).
• Recommended offer: $387k (20.7% below list) — sets the bar for 1% rule.
• Cap rate 4.8% vs local median 2.1% in Saline — 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 81/100 on livability (#67 in MI, #1,442 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, employment A; Watch: amenities D, commute F.
• Saline Area Schools (suburban): math 59% / reading 70% proficiency, ranked #20 of 540 in MI (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 8% free/reduced lunch — higher-income household profile.
• Zoned schools: Pleasant Ridge Elementary School (math 77% / reading 67%, grade A-, #51 of 1,397 statewide, top 5%, 466 students, 16% FRL); Saline Middle School (math 60% / reading 74%, grade A-, #31 of 493 statewide, top 6%, 1,113 students, 16% FRL); Saline High School (math 59% / reading 78%, grade B, #41 of 713 statewide, top 6%, 1,605 students, 12% FRL).
• Market conditions: 228 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 996 units permitted in Washtenaw County in 2024 (492 in 5+ unit buildings).
• This rent runs 41% of the median local income ($114k/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 $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.
• Washtenaw County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 880 days — a 12% lower offer ($429k) is reasonable based on typical stale-listing flexibility.

Recommended offer $386,668 (20.7% 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. It's been on market 880 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.72% ✗
• Cap rate: 4.80%
• Cash-on-cash: -5.33%
• DSCR: 0.76
• GRM: 11.6

CMA / ARV

• ARV (median comp): $538,942
• List price: $487,900
• Delta: -9.47%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
27139 Silo Dr	0.06mi	4/2.5	2,589 (0%)	2mo	$555,295	$214	95
27146 Silo Dr	0.08mi	4/2.5	2,580 (-0%)	2mo	$557,155	$216	94
27108 Silo Dr	0.07mi	4/2.5	2,580 (-0%)	4mo	$571,410	$221	93
27107 Gallop Way	0.08mi	4/2.5	2,589 (0%)	6mo	$519,900	$201	91
2794 Gallop Way	0.03mi	4/2.5	2,450 (-5%)	0mo	$555,660	$227	90
27106 Gallop Way	0.08mi	4/2.5	2,450 (-5%)	5mo	$508,600	$208	84
27154 Gallop Way	0.07mi	4/2.5	2,450 (-5%)	9mo	$527,635	$215	81
2739 Salt Springs Dr #39	0.29mi	3/2.5 (-1)	2,567 (-1%)	5mo	$520,000	$203	76
2739 Salt Springs Dr #39	0.29mi	3/2.5 (-1)	2,567 (-1%)	5mo	$520,000	$203	76
2765 Silo Dr	0.04mi	4/2.5	2,949 (+14%)	8mo	$634,190	$215	68
2732 Wheatfield Way	0.31mi	3/2.5 (-1)	2,756 (+6%)	6mo	$530,000	$192	65
2736 Salt Springs Dr	0.33mi	5/3.5 (+1)	2,977 (+15%)	8mo	$525,000	$176	44

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: -25.4%
• Equity multiple: 0.14×
• Total profit: $-129,935
• Equity at exit: $80,358

10-year hold

• IRR: -21.5%
• Equity multiple: -0.11×
• Total profit: $-167,842
• Equity at exit: $46,598

Cash invested: $150,904 (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 48176

• Active inventory: 228
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $3,867 medium
• Mortgage (P&I): −$2,826
• Tax est. 1.5%: −$674 /mo · $8,084/yr
• Insurance: −$225
• HOA: −$0
• Vacancy / Maint / Mgmt: −$812
• Net cashflow: $-670

Break-even live

Break-even rent $4,715

Max offer price $442,017

Occupancy floor —

Sensitivity live

Price	-10% $-297	-5% $-484	+0% $-670	+5% $-856	+10% $-1,042
Rent	-10% $-975	-5% $-823	+0% $-670	+5% $-517	+10% $-364
Rate	-1.0pp $-398	-0.5pp $-533	base $-670	+0.5pp $-809	+1.0pp $-952

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: $134,735
• Closing costs: $16,168
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2770 Silo Dr Saline, MI	3.0	2.5	1900	$5,000	$2.63	15d	1	0.06mi
1903 Salt Springs Dr Saline, MI	3.0	2.5	1773	$3,000	$1.69	45d	1	0.48mi
372 Highland Dr Saline, MI	3.0	1.5	1853	$2,450	$1.32	15d	1	1.36mi

Listing history 29 events

1. 2026-06-21
   days on market $487,900 Active 880 DOM
2. 2026-06-18
   days on market $487,900 Active 877 DOM
3. 2026-06-17
   days on market $487,900 Active 876 DOM
4. 2026-06-16
   days on market $487,900 Active 875 DOM
5. 2026-06-15
   days on market $487,900 Active 874 DOM
6. 2026-06-14
   days on market $487,900 Active 872 DOM
7. 2026-06-13
   days on market $487,900 Active 871 DOM
8. 2026-06-10
   days on market $487,900 Active 869 DOM
9. 2026-06-09
   days on market $487,900 Active 868 DOM
10. 2026-06-08
    days on market $487,900 Active 867 DOM
11. 2026-06-07
    days on market $487,900 Active 866 DOM
12. 2026-06-05
    days on market $487,900 Active 863 DOM
13. 2026-06-03
    days on market $487,900 Active 862 DOM
14. 2026-06-02
    days on market $487,900 Active 861 DOM
15. 2026-06-01
    days on market $487,900 Active 860 DOM
16. 2026-05-31
    days on market $487,900 Active 859 DOM
17. 2026-05-30
    days on market $487,900 Active 858 DOM
18. 2026-05-12
    price $487,900 136-char remark

    Show marketing remark (136 chars)

    Our brand-new Draper floorplan is the one you have been searching for! With 2,589 square feet of living space, this home is truly a hit.

19. 2026-03-31
    price $486,900 136-char remark

    Show marketing remark (136 chars)

    Our brand-new Draper floorplan is the one you have been searching for! With 2,589 square feet of living space, this home is truly a hit.

20. 2026-01-01
    price $481,900 136-char remark

    Show marketing remark (136 chars)

    Our brand-new Draper floorplan is the one you have been searching for! With 2,589 square feet of living space, this home is truly a hit.

21. 2025-08-01
    price $471,900 136-char remark

    Show marketing remark (136 chars)

    Our brand-new Draper floorplan is the one you have been searching for! With 2,589 square feet of living space, this home is truly a hit.

22. 2025-04-22
    price $469,900 136-char remark

    Show marketing remark (136 chars)

    Our brand-new Draper floorplan is the one you have been searching for! With 2,589 square feet of living space, this home is truly a hit.

23. 2024-10-10
    price $466,900 136-char remark

    Show marketing remark (136 chars)

    Our brand-new Draper floorplan is the one you have been searching for! With 2,589 square feet of living space, this home is truly a hit.

24. 2024-09-17
    price $463,900 136-char remark

    Show marketing remark (136 chars)

    Our brand-new Draper floorplan is the one you have been searching for! With 2,589 square feet of living space, this home is truly a hit.

25. 2024-06-25
    price $460,900 136-char remark

    Show marketing remark (136 chars)

    Our brand-new Draper floorplan is the one you have been searching for! With 2,589 square feet of living space, this home is truly a hit.

26. 2024-03-19
    price $458,900 136-char remark

    Show marketing remark (136 chars)

    Our brand-new Draper floorplan is the one you have been searching for! With 2,589 square feet of living space, this home is truly a hit.

27. 2024-03-06
    price $455,900 136-char remark

    Show marketing remark (136 chars)

    Our brand-new Draper floorplan is the one you have been searching for! With 2,589 square feet of living space, this home is truly a hit.

28. 2024-02-16
    price $452,900 136-char remark

    Show marketing remark (136 chars)

    Our brand-new Draper floorplan is the one you have been searching for! With 2,589 square feet of living space, this home is truly a hit.

29. 2024-01-23
    listed $449,900 Active 136-char remark

    Show marketing remark (136 chars)

    Our brand-new Draper floorplan is the one you have been searching for! With 2,589 square feet of living space, this home is truly a hit.

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

Taxation est. · year 1

• Rental income: $46,400
• − Mortgage interest: −$30,189
• − Property taxes: −$8,084
• − Insurance: −$2,695
• − Repairs & maintenance: −$3,712
• − Management: −$3,712
• − Depreciation: −$15,678
• Taxable loss: −$17,670
• Est. tax savings @ 24.0%: +$4,241
• After-tax cash flow: $-3,797/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: Saline Area Schools
• NCES district ID: 2630660
• Math proficiency: 59% ▼ -11.00%
• Reading proficiency: 70% ▼ -2.00%
• Median HH income: $96,722
• Composite: 59.23/100
• National rank: #939
• State rank: #20 of 540 in MI

Livability — Saline

• Score: 81/100
• State rank: #67
• US rank: #1442

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Washtenaw County · 306,860 people
• City population: 23,451
• Metro: Ann Arbor, MI
• Population (ZIP): 23,451
• Household income: $114,206
• Rent vs Own: 16.2% rent · 83.8% own
• Severe rent burden: 315.0

Population outlook (Washtenaw County) Hauer SSP2

• Today (2025): 402,878 people
• By 2030: 424,104 · +5.3%
• By 2040: 464,633 · +15.3%
• By 2050: 504,728 · +25.3%
• By 2075: 614,463 · +52.5%
• By 2100: 676,181 · +67.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 6% Hispanic / Latino 5% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Romanian 8% Lithuanian 3% Iranian 3%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 90% English-only · Other Indo-European 3% Spanish 2% Chinese 1%

Political lean MEDSL · Washtenaw

• 2024 margin: Solid D (+44.4) · D 71.0% · R 26.6% · Other 2.4%
• 2008→2024 swing: +3.5pp toward D · 2008: 41.0pp · 2024: 44.4pp
• All cycles: 2024: D+44.4 2020: D+46.6 2016: D+41.5 2012: D+36.0 2008: D+41.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -133.08%
• Current HPI: 192.5282
• Rent YoY: —
• Metro: Ann Arbor, 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

+8.4% since first listed

12 events — show timeline

• 2026-05-12 Price Changed $487,900 Zillow
• 2026-03-31 Price Changed $486,900 Zillow
• 2026-01-01 Price Changed $481,900 Zillow
• 2025-08-01 Price Changed $471,900 Zillow
• 2025-04-22 Price Changed $469,900 Zillow
• 2024-10-10 Price Changed $466,900 Zillow
• 2024-09-17 Price Changed $463,900 Zillow
• 2024-06-25 Price Changed $460,900 Zillow
• 2024-03-19 Price Changed $458,900 Zillow
• 2024-03-06 Price Changed $455,900 Zillow
• 2024-02-16 Price Changed $452,900 Zillow
• 2024-01-23 Listed $449,900 Zillow