For Institutional Buyers

Off-market Michigan SFR. Aggregated for institutional underwriting.

Offer Now Michigan operates as a local sourcing arm for funds, REITs, and family offices scaling SFR exposure in Michigan. We aggregate fragmented small-portfolio supply into clean, underwritable packages that match your buy-box — and deliver them with standardized data, clean title, and bulk closing structure.

Discuss a mandate → Sample buy-box examples
Statewide
Michigan Coverage
25–500
Doors per Package
8.0–9.0%
Going-in Cap Range
100% Off-Market
Origination
Operating model

Principal-based aggregator, not a broker.

We acquire from owners under our own contracts and deliver portfolios to you as principal. That gives you a single counterparty, clean chain-of-title, and pricing structured around the institutional sale — not commission economics.

01

Originate

Continuous outreach to 5–500 door owners statewide. Off-market only — no MLS, no auction sites, no public listings.

02

Aggregate

Group sourced supply into packages that match your geography, vintage, ARV, and yield criteria. Filter against concentration limits and quality thresholds.

03

Deliver

Standardized underwriting package per asset. Single bulk closing. Property management transition coordinated. Clean handoff.

Buy-box framework

Every asset indexed to your mandate.

Before sourcing begins, we document your acquisition criteria across seven dimensions. Every property delivered is tagged against this matrix so your underwriting team isn't reverse-engineering fit on a per-asset basis.

Dimension Typical institutional range Our default filters
GeographyWayne / Oakland / Macomb / Grand Rapids / LansingSubmarket-clustered, < 90 min drive between assets
Asset typeSFR 2–4 bed, occasional 2-unitSFR primary; multifamily on request
Vintage1950+ (most institutional capital won't buy pre-war)1955+ default
ARV per door$120K – $250K (varies by submarket)Configurable, indexed to fund's IRR target
Going-in cap rate6.5% – 7.5% (institutional comp range)Delivered at 8.0%–9.0% — 100–200 bps wide of market
Occupancy at delivery≥ 85%92%+ typical, vacant doors disclosed and priced
Capex per door$5K – $25K (light to moderate value-add)Pre-priced into package; not surfaced as DD finding
Sample package · 01

125-door SFR package · Tri-county Michigan.

The marquee mandate profile: a fully-aggregated, institutional-scale SFR delivery built around premium suburban submarkets, newer vintage, and durable rent profile.

125-Door Package · $22.75M · Off-Market

Aggregated SFR portfolio · Wayne / Oakland / Macomb

Built 1990–2005 · Predominantly B+/A-class · 94% occupied at delivery · Premier suburban corridors · Capex pre-priced.

Package Composition
Total doors125
Geographic mixOakland 40% · Wayne 30% · Macomb 30%
Avg ARV per door$215,000
Total ARV$26,875,000
Capex absorbed (pre-priced)$1,200,000
Avg monthly rent / door$1,950
Annual gross rent$2,925,000
Operating expenses (32%)$936,000
Acquisition Economics
Stabilized NOI$1,989,000
Acquisition price (turnkey)$22,750,000
Per-door acquisition$182,000
Going-in cap rate8.7%
Year-3 stabilized NOI$2,260,000
Stabilized cap on cost (Yr 3)9.9%
5-yr unlevered IRR (modeled)16.8%
Closing structureSingle bulk close
Acquisition basis
$22.75M
$182K / door
At-market value
$29.47M
Comparable institutional cap: 6.75%
Day-one equity
29.5% over basis
Aggregated from 12–18 small-portfolio acquisitions over an 8–10 month sourcing window. Acquired at an 8.7% going-in cap — meaningfully wider than the 6.75% cap rate where comparable institutional packages trade — producing roughly $6.7M of day-one equity over basis the moment the package is delivered. Geographic balance reduces concentration risk; complete data tape delivered pre-LOI.
Sample package · 02

60-door premium package · Oakland County focus.

A high-quality, geographically concentrated package aimed at funds and family offices that prioritize submarket quality and rent durability over scale.

60-Door Package · $13.75M · Premium Submarket

Concentrated SFR portfolio · Royal Oak / Berkley / Ferndale corridor

Built 1998–2012 · Predominantly A-class · 96% occupied at delivery · Walkable inner-ring suburbs · Light value-add.

Package Composition
Total doors60
Geographic concentrationOakland County · 100%
Avg ARV per door$268,000
Total ARV$16,080,000
Capex absorbed$480,000
Avg monthly rent / door$2,250
Annual gross rent$1,620,000
Operating expenses (29%)$470,000
Acquisition Economics
Stabilized NOI$1,150,000
Acquisition price (turnkey)$13,750,000
Per-door acquisition$229,000
Going-in cap rate8.4%
Year-3 stabilized NOI$1,310,000
Stabilized cap on cost (Yr 3)9.5%
5-yr unlevered IRR (modeled)17.6%
Closing structureSingle bulk close
Acquisition basis
$13.75M
$229K / door
At-market value
$17.69M
Premier-submarket cap: 6.5%
Day-one equity
28.7% over basis
Tight geographic concentration in Oakland County's premier rental submarkets — Royal Oak, Berkley, Ferndale, Madison Heights — produces stronger rent growth, lower turnover, and a meaningfully better tenant credit profile than scattered statewide holdings. Acquired at an 8.4% going-in cap against a 6.5% market cap rate for premier Oakland submarkets, the package is delivered with roughly $3.9M of day-one equity baked in. Suited for funds with a long-hold thesis or family offices building a multi-decade Michigan position.
Underwriting data

Standardized data tape per asset.

Every property delivered with consistent diligence. Your underwriting team works against a clean, normalized data set — not a stack of mismatched seller spreadsheets.

Rent roll
Current tenant, lease start & end, rent, deposit, payment history (12 mo), section 8 status if applicable.
T-12 operating
Trailing 12 months rent collected, taxes, insurance, utilities (if owner-paid), repairs, mgmt fees.
Condition report
Interior & exterior assessment with photos, capex line items, immediate vs. deferred repair flags.
BPO & comps
Broker price opinion plus 4–6 comparable sales within 0.5–1.0 mile, last 6 months.
Lease abstract
Key terms summarized: assignability, rent escalations, pet policy, deposit handling.
Tax & insurance verified
Current SEV, taxable value, tax bill copy. Insurance bound or quoted at current premiums.
Engagement structures

Three ways to engage us.

Mandates are flexible. Most institutional clients start with a single-package engagement to test fit, then move to a continuous origination or co-investment structure as the relationship matures.

Type A

Single package

One-off mandate for a defined package size. We aggregate, deliver, close. Best for first-time relationships or specific tactical deployments.

Typical: 25–50 doors · 60–120 days

Type B

Continuous origination

Ongoing pipeline mandate. We deliver packages on a defined cadence (monthly, quarterly) up to an agreed cap. Best for funds with active deployment schedules.

Typical: 100–500 doors · 6–18 months

Type C

Co-investment / JV

We retain a sponsor stake alongside your capital. Aligned interests on stabilization, occupancy, and yield. Best for value-add or operator-aligned mandates.

Custom · Negotiated terms

Institutional · FAQ

Questions from underwriting committees.

Offer Now Michigan operates as principal — we acquire from owners under our own contracts and deliver to you. Our economics are the spread between our acquisition cost and the institutional sale price. There are no separate per-door fees or commissions on top of the package price you see. Pricing is fully transparent and documented.

For a 25-door package, 60–90 days from mandate sign to delivery. For 50 doors, 4–6 months. For continuous origination at 100+ doors, expect monthly or quarterly tranches after a 30-day pipeline build. Aggregation pace is a function of mandate flexibility — narrow buy-boxes take longer.

Title is taken at our intermediate close, then transferred to your designated entity at the bulk close. Or, where appropriate, contracts are assigned and your entity takes title directly from the original seller. Either path produces clean chain-of-title. Title insurance is procured for each parcel and reissued for the bulk transfer.

Yes. We coordinate the management hand-off to your designated operator at closing, including tenant notification, security deposit transfer, lease packet delivery, and a 30-day overlap period. Most institutional clients use existing third-party operators; we don't require captive management.

Mutual NDA, then a sample data tape from a recently sourced asset, our buy-box framework, and our standard mandate template. After mandate sign, we begin pipeline build and deliver weekly progress updates. No portfolio data or seller identities are shared with multiple buyers — exclusivity is enforced from day one.

Yes. For mandates that require us to warehouse and stabilize ahead of bulk transfer, we deploy our own and partner capital. This adds 30–90 days to the timeline but produces a fully stabilized package at delivery, which most institutional underwriting prefers.

Ready to discuss a Michigan mandate?

Send us your buy-box. We'll respond with a sample data tape from comparable recently sourced inventory, our standard mandate template, and proposed economics within five business days.

Schedule an institutional intake →