7243 East Dr · Plainfield, MI 48761

$125,000

3 bd · 1.0 ba · 1,350 sqft · SingleFamily public records · 65 Days on market

Built 1950 1.00 ac lot $93/sqft · 33% below area Est $250k · 50% 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 +22.7/30.0
• ARV discount +15.0/15.0
• DSCR +7.3/10.0
• Appreciation +5.3/10.0
• 1% rule +4.6/10.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Great opportunity, this home needs some TLC to show its full potential. Located between Chain Lake and the National forest. Close to ORV and snowmobile trails. This home is 3 bedrooms and 1 bath with extra space for bath or bedroom. Beamed ceiling and fireplace in living room. 24 x 32 two story garage. Walking distance to Chain Lake Park. Family is in the process of cleaning out years of treasures.

Key facts

• Beamed ceiling
• 1 acre lot
• 2 garage spots

Tags

• BEAMED CEILING
• FIREPLACE IN LIVING ROOM
• ORV AND SNOWMOBILE TRAILS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $215 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $120k (3.7% below list).
• Recommended offer: $118k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Hale Area Schools (rural): math 35% / reading 45% proficiency, ranked #402 of 760 in MI (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 22 active listings in the ZIP; 58 units permitted in Iosco County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($864 loan paydown + $676 appreciation (0.5% local appreciation)).
• Iosco County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.5% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $117,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 0.96% ✗
• Cap rate: 8.36%
• Cash-on-cash: 7.39%
• DSCR: 1.33
• GRM: 8.7

CMA / ARV

• ARV (median comp): $249,543
• List price: $125,000
• Delta: -49.91%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7139 Chain Lake Dr	0.24mi	3/1.0	1,174 (-13%)	0mo	$250,000	$213	67
7691 Clifton Dr	0.58mi	3/1.5	1,232 (-9%)	18mo	$144,000	$117	42
7785 Clifton Dr	0.70mi	3/2.0	1,400 (+4%)	19mo	$133,900	$96	41
7785 Clifton Dr	0.70mi	3/2.0	1,400 (+4%)	19mo	$133,900	$96	41
7724 Nicole Dr	0.74mi	3/2.0	1,159 (-14%)	10mo	$144,000	$124	29
8285 Chain Lake Rd	0.73mi	3/2.0	1,196 (-11%)	22mo	$210,000	$176	25

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.54% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.7%
• Equity multiple: 1.38×
• Total profit: $13,222
• Equity at exit: $39,715

10-year hold

• IRR: 12.1%
• Equity multiple: 2.40×
• Total profit: $49,056
• Equity at exit: $50,562

Cash invested: $35,000 (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 48761

• Home prices YoY: 0.3%
• Active inventory: 22
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,204 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$28 /mo · $333/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $215

Break-even live

Break-even rent $931

Max offer price $125,000

Occupancy floor 77%

Sensitivity live

Price	-10% $286	-5% $251	+0% $215	+5% $180	+10% $145
Rent	-10% $120	-5% $168	+0% $215	+5% $263	+10% $311
Rate	-1.0pp $278	-0.5pp $247	base $215	+0.5pp $183	+1.0pp $150

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-17
   status $125,000 Pending 65 DOM
2. 2026-06-16
   days on market $125,000 Active 65 DOM
3. 2026-06-15
   days on market $125,000 Active 64 DOM
4. 2026-06-13
   days on market $125,000 Active 62 DOM
5. 2026-06-12
   days on market $125,000 Active 61 DOM
6. 2026-06-09
   days on market $125,000 Active 58 DOM
7. 2026-06-08
   days on market $125,000 Active 57 DOM
8. 2026-06-07
   days on market $125,000 Active 56 DOM
9. 2026-06-07
   days on market $125,000 Active 55 DOM
10. 2026-06-04
    days on market $125,000 Active 52 DOM
11. 2026-06-02
    days on market $125,000 Active 51 DOM
12. 2026-06-01
    days on market $125,000 Active 50 DOM
13. 2026-05-31
    days on market $125,000 Active 49 DOM
14. 2026-05-31
    days on market $125,000 Active 48 DOM
15. 2026-04-12
    listed $125,000 Active 401-char remark

    Show marketing remark (401 chars)

    Great opportunity, this home needs some TLC to show its full potential. Located between Chain Lake and the National forest. Close to ORV and snowmobile trails. This home is 3 bedrooms and 1 bath with extra space for bath or bedroom. Beamed ceiling and fireplace in living room. 24 x 32 two story garage. Walking distance to Chain Lake Park. Family is in the process of cleaning out years of treasures.

16. 2026-04-12
    listed $125,000 Active 401-char remark

    Show marketing remark (401 chars)

    Great opportunity, this home needs some TLC to show its full potential. Located between Chain Lake and the National forest. Close to ORV and snowmobile trails. This home is 3 bedrooms and 1 bath with extra space for bath or bedroom. Beamed ceiling and fireplace in living room. 24 x 32 two story garage. Walking distance to Chain Lake Park. Family is in the process of cleaning out years of treasures.

ⓘ 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: $333 · $28/mo
• Projected year-2 tax: $1,129 · $94/mo
• Expected delta: +$796/yr (+$66/mo · 239.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $14,443
• − Mortgage interest: −$7,002
• − Property taxes: −$333
• − Insurance: −$625
• − Repairs & maintenance: −$1,155
• − Management: −$1,155
• − Depreciation: −$3,636
• Taxable income: $536
• Est. tax owed @ 24.0%: −$129
• After-tax cash flow: $2,457/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: Hale Area Schools
• NCES district ID: 2617370
• Math proficiency: 35% ▲ 5.00%
• Reading proficiency: 45% ▲ 10.00%
• Median HH income: $35,292
• Composite: 35.5/100
• National rank: #9750
• State rank: #402 of 760 in MI

Livability — Plainfield

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 804

Population outlook (Iosco County) Hauer SSP2

• Today (2025): 24,366 people
• By 2030: 23,622 · -3.1%
• By 2040: 22,021 · -9.6%
• By 2050: 20,877 · -14.3%
• By 2075: 18,792 · -22.9%
• By 2100: 15,465 · -36.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Common ancestry: Lithuanian 14% Romanian 13% Slovak 5%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Iosco

• 2024 margin: Solid R (+30.6) · D 34.0% · R 64.5% · Other 1.5%
• 2008→2024 swing: -35.7pp toward R · 2008: 5.1pp · 2024: -30.6pp
• All cycles: 2024: R+30.6 2020: R+28.6 2016: R+30.0 2012: R+5.0 2008: D+5.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.54%
• Current HPI: 176.0313
• 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

+0.0% since first listed

2 events — show timeline

• 2026-04-12 Listed $125,000 REALCOMP
• 2026-04-12 Listed $125,000 MiRealSource-MiMLS

Property tax history

-2.5%/yr

Latest (2025): $333 · +4.0% YoY. Source: county tax records.