1424 19th St

Port Huron, MI 48060

$106,900B

4 bd · 1.5 ba · 1,092 sqft · Built 1918 · SingleFamily · Active · 268 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,384/mo
• Mortgage (P&I): −$561
• Tax + insurance: −$143
• HOA: −$0
• Vac / Maint / Mgmt: −$291
• Net cashflow: $389/mo
• Annual: $4,674/yr
• Cap rate: 10.66%
• Cash-on-cash: 15.61%
• DSCR: 1.69
• 1% rule: 1.29%
• Cash to close: $29,932

Investor read

• This is a 4-bed/1.5-bath single-family listed at $107k.
• At list price, monthly cash flow is $389 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $107k).
• It's been on market 268 days — a 12% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $94k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $739 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#445 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities C-, health & safety D, schools F.
• Port Huron Area School District (suburban): math 23% / reading 37% proficiency, ranked #368 of 540 in MI (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+3.6%/yr); 220 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 232 units permitted in St. Clair County in 2024 (0 in 5+ unit buildings).
• St. Clair County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 21y ago; this cycle's ask has dropped $23k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $90k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 3.6% rent growth), your $30k cash investment doubles in ~8 years — after that, you're playing with house money.
• Cap rate 10.7% vs local median 4.6% in Port Huron — 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.
• This rent runs 31% of the median local income ($53k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 268 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.