135 Hunters Rill Dr · Lapeer, MI 48446

$25,000

3 bd · 2.0 ba · 1,346 sqft · Other · 56 Days on market

Built 1989 $19/sqft · 85% below area ↓ 14% since listing

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.6/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover a lifestyle of comfort and possibility at 135 Hunters Rill DR, Lapeer, MI. This single family residence, built in 1989, offers an exceptional opportunity to create your ideal living space. With three well-proportioned bedrooms, this home provides ample personal sanctuaries for rest and rejuvenation. This property presents a canvas for your aspirations, inviting you to shape a home that perfectly reflects your vision. Inquire today to experience the potential of this remarkable Lapeer residence. * * * Lot Rent is $794 a month

Key facts

• Community pool
• Built 1989
• Listed 56 days

Property features AI

Finance

• HOA & community: Community amenities include a pool

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Residential property; Entry on ground level
• Construction: Vinyl siding; Asphalt roof; Pillar/post/pier foundation; Built as a single-level home
• Exterior features: Community pool; Paved road access; Irregular-shaped lot

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); ENERGY STAR qualified heating equipment; No central cooling
• Interior features: Total of 3 rooms; Ground-level entry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $25k.

Deal economics

• At list price, monthly cash flow is $879 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $24k (3.0% below list) — sets the bar for market timing.
• Cap rate 48.5% vs local median 3.6% in Lapeer — 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 72/100 on livability (#231 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: schools D+, employment D, commute F.
• Lapeer Community Schools (town): math 31% / reading 49% proficiency, ranked #202 of 540 in MI (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 186 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 71% of comp listings sitting > 30 days — soft ceiling on asking rent; 152 units permitted in Lapeer County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $173 of loan paydown is wiped out by about $750 of value loss. Plan a longer hold.
• Lapeer County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($24k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $4k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $24,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-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. 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?
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: 5.32% ✓
• Cap rate: 48.48%
• Cash-on-cash: 150.66%
• DSCR: 7.70
• GRM: 1.6

CMA / ARV

• ARV (median comp): $166,111
• List price: $25,000
• Delta: -84.95%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 8.42×
• Total profit: $51,942
• Equity at exit: $3,728

10-year hold

• IRR: —
• Equity multiple: 17.77×
• Total profit: $117,385
• Equity at exit: $2,162

Cash invested: $7,000 (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 48446

• Active inventory: 186
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $1,331 high
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $375/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $879

Break-even live

Break-even rent $219

Max offer price $25,000

Occupancy floor 29%

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
287 Jacqualyn Dr Lapeer, MI	3.0	1.0	1120	$1,075	$0.96	43d	1	0.16mi
189 Jessie Lee Dr Lapeer, MI	3.0	2.0	1152	$1,200	$1.04	23d	1	0.26mi
1885 Raleigh Ave Unit 07 Lapeer, MI	2.0	1.0	1005	$1,205	$1.20	1d	1	0.54mi
1750 Rustic Dr Apt 104 Lapeer, MI	2.0	2.0	1049	$1,445	$1.38	43d	1	0.59mi
1801 Raleigh Ave Unit 18 Lapeer, MI	2.0	1.0	960	$1,260	$1.31	43d	1	0.61mi
1851 Rustic Dr Unit 106 Lapeer, MI	2.0	2.0	1049	$1,495	$1.43	43d	1	0.62mi
1752 Raleigh Ave Unit 20 Lapeer, MI	2.0	1.0	960	$1,275	$1.33	43d	1	0.67mi

Listing history 18 events

1. 2026-06-18
   days on market $25,000 Active 56 DOM
2. 2026-06-17
   days on market $25,000 Active 55 DOM
3. 2026-06-16
   days on market $25,000 Active 54 DOM
4. 2026-06-15
   days on market $25,000 Active 53 DOM
5. 2026-06-13
   days on market $25,000 Active 51 DOM
6. 2026-06-09
   days on market $25,000 Active 47 DOM
7. 2026-06-08
   days on market $25,000 Active 46 DOM
8. 2026-06-07
   days on market $25,000 Active 45 DOM
9. 2026-06-04
   days on market $25,000 Active 42 DOM
10. 2026-06-03
    days on market $25,000 Active 41 DOM
11. 2026-06-02
    days on market $25,000 Active 40 DOM
12. 2026-06-01
    days on market $25,000 Active 39 DOM
13. 2026-05-31
    days on market $25,000 Active 38 DOM
14. 2026-05-15
    price $25,000 542-char remark

    Show marketing remark (542 chars)

    Discover a lifestyle of comfort and possibility at 135 Hunters Rill DR, Lapeer, MI. This single family residence, built in 1989, offers an exceptional opportunity to create your ideal living space. With three well-proportioned bedrooms, this home provides ample personal sanctuaries for rest and rejuvenation. This property presents a canvas for your aspirations, inviting you to shape a home that perfectly reflects your vision. Inquire today to experience the potential of this remarkable Lapeer residence. * * * Lot Rent is $794 a month

15. 2026-05-15
    price $25,000 542-char remark

    Show marketing remark (542 chars)

    Discover a lifestyle of comfort and possibility at 135 Hunters Rill DR, Lapeer, MI. This single family residence, built in 1989, offers an exceptional opportunity to create your ideal living space. With three well-proportioned bedrooms, this home provides ample personal sanctuaries for rest and rejuvenation. This property presents a canvas for your aspirations, inviting you to shape a home that perfectly reflects your vision. Inquire today to experience the potential of this remarkable Lapeer residence. * * * Lot Rent is $794 a month

16. 2026-04-24
    listed $29,000 Active 542-char remark

    Show marketing remark (542 chars)

    Discover a lifestyle of comfort and possibility at 135 Hunters Rill DR, Lapeer, MI. This single family residence, built in 1989, offers an exceptional opportunity to create your ideal living space. With three well-proportioned bedrooms, this home provides ample personal sanctuaries for rest and rejuvenation. This property presents a canvas for your aspirations, inviting you to shape a home that perfectly reflects your vision. Inquire today to experience the potential of this remarkable Lapeer residence. * * * Lot Rent is $794 a month

17. 2026-04-24
    listed $29,000 Active 542-char remark

    Show marketing remark (542 chars)

    Discover a lifestyle of comfort and possibility at 135 Hunters Rill DR, Lapeer, MI. This single family residence, built in 1989, offers an exceptional opportunity to create your ideal living space. With three well-proportioned bedrooms, this home provides ample personal sanctuaries for rest and rejuvenation. This property presents a canvas for your aspirations, inviting you to shape a home that perfectly reflects your vision. Inquire today to experience the potential of this remarkable Lapeer residence. * * * Lot Rent is $794 a month

18. 2026-04-23
    historical $29,000 542-char remark

    Show marketing remark (542 chars)

    Discover a lifestyle of comfort and possibility at 135 Hunters Rill DR, Lapeer, MI. This single family residence, built in 1989, offers an exceptional opportunity to create your ideal living space. With three well-proportioned bedrooms, this home provides ample personal sanctuaries for rest and rejuvenation. This property presents a canvas for your aspirations, inviting you to shape a home that perfectly reflects your vision. Inquire today to experience the potential of this remarkable Lapeer residence. * * * Lot Rent is $794 a month

ⓘ 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: $15,974
• − Mortgage interest: −$1,400
• − Property taxes: −$375
• − Insurance: −$125
• − Repairs & maintenance: −$1,278
• − Management: −$1,278
• − Depreciation: −$727
• Taxable income: $10,790
• Est. tax owed @ 24.0%: −$2,590
• After-tax cash flow: $7,956/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: Lapeer Community Schools
• NCES district ID: 2621180
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 49% ▼ -4.00%
• Median HH income: $53,749
• Composite: 34.79/100
• National rank: #5113
• State rank: #202 of 540 in MI

Livability — Lapeer

• Score: 72/100
• State rank: #231
• US rank: #5855

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lapeer, MI
• County: Lapeer County · 30,581 people
• City population: 30,581
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 30,581
• Household income: $66,062
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 908.0

Population outlook (Lapeer County) Hauer SSP2

• Today (2025): 89,826 people
• By 2030: 89,535 · -0.3%
• By 2040: 86,695 · -3.5%
• By 2050: 80,566 · -10.3%
• By 2075: 65,783 · -26.8%
• By 2100: 46,584 · -48.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 6% Hispanic / Latino 3% Black 3%
• Common ancestry: Romanian 6% Lithuanian 4% Slovak 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Lapeer

• 2024 margin: Solid R (+39.8) · D 29.5% · R 69.3% · Other 1.3%
• 2008→2024 swing: -36.8pp toward R · 2008: -3.0pp · 2024: -39.8pp
• All cycles: 2024: R+39.8 2020: R+36.3 2016: R+38.3 2012: R+11.5 2008: R+3.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -243.58%
• Current HPI: 212.3665
• Rent YoY: —
• 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

-13.8% since first listed

5 events — show timeline

• 2026-05-15 Price Changed $25,000 MiRealSource-MiMLS
• 2026-05-15 Price Changed $25,000 REALCOMP
• 2026-04-24 Listed $29,000 MiRealSource-MiMLS
• 2026-04-24 Listed $29,000 REALCOMP
• 2026-04-23 Coming Soon $29,000 MiRealSource-MiMLS

Property tax history

-1.4%/yr

Latest (2025): $15 · +3.4% YoY. Source: county tax records.