215 W Fulton Ave · Fulton, MI 48874

$140,000

3 bd · 1.0 ba · 1,289 sqft · SingleFamily · 8 Days on market

Built 1900 0.25 ac lot Est $150k · 6% under

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Why this score? — see what drove the C- 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 +18.9/30.0
• ARV discount +10.4/15.0
• DSCR +5.9/10.0
• Appreciation +5.0/10.0
• 1% rule +3.7/10.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to 215 W Fulton St in the peaceful countryside of Pompeii, Michigan. Set on a generous quarter acre lot, this single family property offers the perfect blend of rural tranquility and small town living. With mature surroundings and wide open space, the setting provides privacy, comfort, and room to grow.

Key facts

• Privacy
• Room to grow
• Quarter acre lot

Tags

• QUARTER ACRE LOT
• WIDE OPEN SPACE
• PRIVACY
• ROOM TO GROW

Property features AI

Exterior

• Parking: Driveway; No attached garage
• Utilities: Electric with circuit breakers; Public sewer; TV antenna present
• Home design: Traditional style; One and one-half levels; Entry level: 1; City street frontage
• Construction: Built in 1900; Vinyl and wood siding; Shingle roof; Combination and stone foundation
• Exterior features: Partial fencing; Back yard; City lot with a few trees; Deck/patio; Neighborhood view; Shed(s)

Interior

• Kitchen: Oven; Range; Refrigerator
• Bedrooms: 3 bedrooms (primary on main level)
• Flooring: Combination flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No central cooling
• Interior features: Primary bedroom located downstairs; Storage space; Enclosed porch
• Laundry & utility: Laundry room inside

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $142 ($2k/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 $121k (13.2% below list).
• Recommended offer: $121k (13.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Ithaca Public Schools (rural): math 31% / reading 48% proficiency, ranked #221 of 540 in MI (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 2 active listings in the ZIP; 47 units permitted in Gratiot County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($968 loan paydown + $4k appreciation (3.0% local appreciation)).
• Gratiot County population projected at -14% 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 $39k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.
• Current owner paid $70k; list at $140k implies a 101% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $121,453 (13.2% below list)

Questions for the listing agent

1. Built in 1900 — 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. 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.
4. 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.
5. 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: 0.87% ✗
• Cap rate: 7.51%
• Cash-on-cash: 4.36%
• DSCR: 1.19
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $149,524
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
129 E Fulton St	0.19mi	3/1.0	1,308 (+2%)	1mo	$152,000	$116	88

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.5%
• Equity multiple: 1.66×
• Total profit: $25,857
• Equity at exit: $62,950

10-year hold

• IRR: 13.7%
• Equity multiple: 3.02×
• Total profit: $79,263
• Equity at exit: $97,014

Cash invested: $39,200 (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 48874

• Active inventory: 2
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,215 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$25 /mo · $295/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $142

Break-even live

Break-even rent $1,034

Max offer price $140,000

Occupancy floor 83%

Sensitivity live

Price	-10% $222	-5% $182	+0% $142	+5% $103	+10% $-105
Rent	-10% $46	-5% $94	+0% $142	+5% $190	+10% $238
Rate	-1.0pp $213	-0.5pp $178	base $142	+0.5pp $106	+1.0pp $69

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   days on market $140,000 Active 8 DOM
2. 2026-06-17
   days on market $140,000 Active 7 DOM
3. 2026-06-16
   days on market $140,000 Active 6 DOM
4. 2026-06-15
   days on market $140,000 Active 5 DOM
5. 2026-06-13
   days on market $140,000 Active 3 DOM
6. 2026-06-12
   remarks 312-char remark
7. 2026-06-12
   listed $140,000 Active 2 DOM

ⓘ 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: $295 · $25/mo
• Projected year-2 tax: $1,226 · $102/mo
• Expected delta: +$930/yr (+$78/mo · 314.8%)

ⓘ 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 3/10 Moderate 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,574
• − Mortgage interest: −$7,842
• − Property taxes: −$295
• − Insurance: −$700
• − Repairs & maintenance: −$1,166
• − Management: −$1,166
• − Depreciation: −$4,073
• Taxable loss: −$668
• Est. tax savings @ 24.0%: +$160
• After-tax cash flow: $1,868/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: Ithaca Public Schools
• NCES district ID: 2619580
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 48% ▼ -7.00%
• Median HH income: $45,626
• Composite: 33.6/100
• National rank: #5412
• State rank: #221 of 540 in MI

Livability — Fulton

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

Census & demographics

• Population (ZIP): 160

Population outlook (Gratiot County) Hauer SSP2

• Today (2025): 39,991 people
• By 2030: 38,944 · -2.6%
• By 2040: 36,694 · -8.2%
• By 2050: 34,314 · -14.2%
• By 2075: 27,693 · -30.8%
• By 2100: 20,809 · -48.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 58% Black 32% Hispanic / Latino 11% Two or more races 11%
• Common ancestry: Iranian 21% Slovak 11%

Political lean MEDSL · Gratiot

• 2024 margin: Solid R (+31.3) · D 33.7% · R 65.0% · Other 1.4%
• 2008→2024 swing: -35.7pp toward R · 2008: 4.4pp · 2024: -31.3pp
• All cycles: 2024: R+31.3 2020: R+28.3 2016: R+25.6 2012: R+3.9 2008: D+4.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+101.4% since first listed

3 events — show timeline

• 2026-06-10 Listed $140,000 REALCOMP
• 2026-06-10 Listed $140,000 Greater Lansing AoR
• 2006-05-30 Sold (Public Records) $69,500 Public Records