106 E Rutgers Ave · Pontiac, MI 48340

$60,000

2 bd · 1.0 ba · 682 sqft · SingleFamily public records · 24 Days on market

Built 1948 5,227 sqft lot Est $85k · 30% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.7/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 2-bedroom, 1-bath home is full of potential and ready for the right buyer to bring it back to life. Whether you're an investor looking for your next value-add project or a first-time homebuyer ready to build equity, this property offers a fantastic opportunity at an affordable entry point. The home features a functional layout with two bedrooms and one full bathroom, providing a solid foundation for updates and customization. While it needs renovations, the possibilities are endless - modernize the interior, increase value, and create a space tailored to your vision. Situated on a lot with a large backyard, there's plenty of room for outdoor entertaining, gardening, or future improvements. Although there is no garage, the generous yard space offers flexibility and added potential. With the right updates, this property could become a strong rental, a profitable flip, or a charming starter home. Opportunities like this - priced right and full of upside - don't last long. Bring your vision, unlock the potential, and schedule your showing today!

Key facts

• Outdoor entertaining
• Large backyard
• 5,227 sq ft lot

Tags

• LARGE BACKYARD
• OUTDOOR ENTERTAINING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $525 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.8% 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: Rents rising fast (+4.7%/yr); 83 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $415 of loan paydown is wiped out by about $2k 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 + 4.7% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 23y 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.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $59,100 (1.5% below list)

Questions for the listing agent

1. Built in 1948 — 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: 1.92% ✓
• Cap rate: 16.79%
• Cash-on-cash: 37.51%
• DSCR: 2.67
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $85,250
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
106 E Rutgers Ave	0.00mi	2/1.0	744 (+9%)	0mo	$57,000	$77	84
117 W Strathmore	0.45mi	2/1.0	640 (-6%)	1mo	$142,000	$222	68
121 W Columbia Ave	0.49mi	2/1.0	678 (-1%)	12mo	$71,000	$105	66
134 W Fairmount Ave	0.46mi	2/1.0	714 (+5%)	7mo	$137,000	$192	64
25 W Cornell Ave	0.26mi	2/1.0	775 (+14%)	2mo	$50,000	$65	64
22 N Merrimac St	0.49mi	2/1.0	734 (+8%)	3mo	$68,000	$93	62
89 W Fairmount Ave	0.37mi	2/1.0	602 (-12%)	3mo	$100,000	$166	61
98 W Tennyson Ave	0.41mi	2/1.0	739 (+8%)	12mo	$92,500	$125	57
123 Parkdale Ave	0.59mi	2/1.0	712 (+4%)	12mo	$62,500	$88	55
137 Dresden Ave	0.57mi	2/1.0	763 (+12%)	8mo	$117,000	$153	47
239 W Cornell Ave	0.64mi	2/1.0	777 (+14%)	10mo	$97,000	$125	39
248 W Longfellow Ave	0.71mi	2/1.0	783 (+15%)	10mo	$125,000	$160	34

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 · 4.73% rent growth · sell at horizon

5-year hold

• IRR: 35.4%
• Equity multiple: 2.53×
• Total profit: $25,755
• Equity at exit: $8,946

10-year hold

• IRR: 43.0%
• Equity multiple: 5.41×
• Total profit: $74,139
• Equity at exit: $5,188

Cash invested: $16,800 (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 48340

• Rents YoY: 4.7%
• Active inventory: 83
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,150 high
• Mortgage (P&I): −$315
• Tax from tax record: −$44 /mo · $526/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $525

Break-even live

Break-even rent $485

Max offer price $60,000

Occupancy floor 49%

Sensitivity live

Price	-10% $559	-5% $542	+0% $525	+5% $508	+10% $491
Rent	-10% $434	-5% $480	+0% $525	+5% $571	+10% $616
Rate	-1.0pp $555	-0.5pp $540	base $525	+0.5pp $510	+1.0pp $494

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
76 N Merrimac St Pontiac, MI	2.0	1.0	633	$1,450	$2.29	44d	1	0.54mi
105 S Merrimac St Pontiac, MI	2.0	1.0	625	$825	$1.32	22d	1	0.62mi
370 W Hopkins Ave Pontiac, MI	1.0–2.0	1.0	700	$1,100	$1.57	44d	39	1.09mi
957 Perry St Pontiac, MI	1.0–3.0	1.0	835	$974	$1.17	44d	1	1.21mi
22 Cadillac St Unit 8 Pontiac, MI	1.0	1.0	550	$950	$1.73	44d	1	1.24mi
278 Cesar E Chavez Ave Pontiac, MI	1.0	1.0	750	$950	$1.27	25d	1	1.39mi

Listing history 12 events

1. 2026-03-13
   status Pending 1062-char remark

   Show marketing remark (1062 chars)

   This 2-bedroom, 1-bath home is full of potential and ready for the right buyer to bring it back to life. Whether you're an investor looking for your next value-add project or a first-time homebuyer ready to build equity, this property offers a fantastic opportunity at an affordable entry point. The home features a functional layout with two bedrooms and one full bathroom, providing a solid foundation for updates and customization. While it needs renovations, the possibilities are endless - modernize the interior, increase value, and create a space tailored to your vision. Situated on a lot with a large backyard, there's plenty of room for outdoor entertaining, gardening, or future improvements. Although there is no garage, the generous yard space offers flexibility and added potential. With the right updates, this property could become a strong rental, a profitable flip, or a charming starter home. Opportunities like this - priced right and full of upside - don't last long. Bring your vision, unlock the potential, and schedule your showing today!

2. 2026-03-13
   status Pending

   Show marketing remark (1062 chars)

   This 2-bedroom, 1-bath home is full of potential and ready for the right buyer to bring it back to life. Whether you're an investor looking for your next value-add project or a first-time homebuyer ready to build equity, this property offers a fantastic opportunity at an affordable entry point. The home features a functional layout with two bedrooms and one full bathroom, providing a solid foundation for updates and customization. While it needs renovations, the possibilities are endless - modernize the interior, increase value, and create a space tailored to your vision. Situated on a lot with a large backyard, there's plenty of room for outdoor entertaining, gardening, or future improvements. Although there is no garage, the generous yard space offers flexibility and added potential. With the right updates, this property could become a strong rental, a profitable flip, or a charming starter home. Opportunities like this - priced right and full of upside - don't last long. Bring your vision, unlock the potential, and schedule your showing today!

3. 2026-02-17
   listed $60,000 Active

   Show marketing remark (1062 chars)

   This 2-bedroom, 1-bath home is full of potential and ready for the right buyer to bring it back to life. Whether you're an investor looking for your next value-add project or a first-time homebuyer ready to build equity, this property offers a fantastic opportunity at an affordable entry point. The home features a functional layout with two bedrooms and one full bathroom, providing a solid foundation for updates and customization. While it needs renovations, the possibilities are endless - modernize the interior, increase value, and create a space tailored to your vision. Situated on a lot with a large backyard, there's plenty of room for outdoor entertaining, gardening, or future improvements. Although there is no garage, the generous yard space offers flexibility and added potential. With the right updates, this property could become a strong rental, a profitable flip, or a charming starter home. Opportunities like this - priced right and full of upside - don't last long. Bring your vision, unlock the potential, and schedule your showing today!

4. 2026-02-17
   listed $60,000 Active 1062-char remark

   Show marketing remark (1062 chars)

   This 2-bedroom, 1-bath home is full of potential and ready for the right buyer to bring it back to life. Whether you're an investor looking for your next value-add project or a first-time homebuyer ready to build equity, this property offers a fantastic opportunity at an affordable entry point. The home features a functional layout with two bedrooms and one full bathroom, providing a solid foundation for updates and customization. While it needs renovations, the possibilities are endless - modernize the interior, increase value, and create a space tailored to your vision. Situated on a lot with a large backyard, there's plenty of room for outdoor entertaining, gardening, or future improvements. Although there is no garage, the generous yard space offers flexibility and added potential. With the right updates, this property could become a strong rental, a profitable flip, or a charming starter home. Opportunities like this - priced right and full of upside - don't last long. Bring your vision, unlock the potential, and schedule your showing today!

5. 2006-04-14
   soldstatus $70,000
6. 2005-12-21
   historical
7. 2005-08-15
   listed $72,900
8. 2003-11-12
   historical
9. 2003-08-31
   listed $73,900
10. 2000-05-15
    soldstatus $70,000
11. 1999-01-19
    soldstatus $18,000
12. 1959-08-18
    soldstatus $6,000

ⓘ 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: $526 · $44/mo
• Projected year-2 tax: $725 · $60/mo
• Expected delta: +$199/yr (+$17/mo · 37.8%)

ⓘ 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 · 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: $13,801
• − Mortgage interest: −$3,361
• − Property taxes: −$526
• − Insurance: −$300
• − Repairs & maintenance: −$1,104
• − Management: −$1,104
• − Depreciation: −$1,745
• Taxable income: $5,660
• Est. tax owed @ 24.0%: −$1,359
• After-tax cash flow: $4,942/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
• County: Oakland County · 1,009,092 people
• City population: 44,593
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 25,669
• Household income: $47,891
• Rent vs Own: 54.3% rent · 45.7% own
• Severe rent burden: 1460.0

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: Highly diverse neighborhood (Simpson 0.73)
• Race & ethnicity: Black 31% Hispanic / Latino 31% White 29% Two or more races 22% Asian 4%
• Hispanic origin (detail): Mexican 18% Puerto Rican 7%
• Common ancestry: Lithuanian 2% Romanian 2% Serbian 1%
• Foreign-born: 11% · Canada, China
• Languages at home: 74% English-only · Spanish 23% Other Asian/Pacific 2% Chinese 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: ▼ -295.80%
• Current HPI: 177.961
• Rent YoY: ▲ 4.73%
• 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

+900.0% since first listed

12 events — show timeline

• 2026-03-13 Pending — MiRealSource-MiMLS
• 2026-03-13 Pending — REALCOMP
• 2026-02-17 Listed $60,000 REALCOMP
• 2026-02-17 Listed $60,000 MiRealSource-MiMLS
• 2006-04-14 Sold (Public Records) $70,000 Public Records
• 2005-12-21 Listing Removed — REALCOMP
• 2005-08-15 Listed $72,900 REALCOMP
• 2003-11-12 Listing Removed — REALCOMP
• 2003-08-31 Listed $73,900 REALCOMP
• 2000-05-15 Sold (Public Records) $70,000 Public Records
• 1999-01-19 Sold (Public Records) $18,000 Public Records
• 1959-08-18 Sold (Public Records) $6,000 Public Records

Property tax history

+1.5%/yr

Latest (2025): $526 · -72.4% YoY. Source: county tax records.