4727 Brown Rd · Vassar, MI 48768

$85,000

2 bd · 1.0 ba · 940 sqft · SingleFamily public records · 1 Days on market

Built 1965 1.15 ac lot

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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 +19.6/30.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• 1% rule +4.9/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity and potential awaits. Situated on just over an acre and on a corner lot, the home is currently looking for its next renovation, making it an ideal project for buyers looking to design and create with their own vision. A standout feature of the property is the oversized detached two-car garage, finished with heat for year-round use as a workspace, storage, or hobby garage while you plan your future build or renovation. Set in a quiet country setting, the property offers space, flexibility, and significant upside potential for the right vision. Bring your ideas and unlock the possibilities this property has to offer. Well and septic operation is unknown and the home is being sold in AS IS condition.

Key facts

• Corner lot
• Year round use
• 1.15 acre lot

Tags

• CORNER LOT
• OVERSIZED DETACHED GARAGE
• YEAR ROUND USE

Property features AI

Finance

• HOA & community: Homeowners association present

Exterior

• Parking: Detached 2-car garage
• Utilities: Private well water; Septic tank sewer
• Home design: Single-family residence; One story
• Construction: Vinyl siding; 1,008 above-grade finished area; Built on crawl space foundation
• Exterior features: Corner lot; County road frontage; Shed on the property

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Propane heating; No central cooling
• Interior features: Crawl space basement; Total of 4 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $99 ($1k/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 $85k (0.5% below list).
• Recommended offer: $85k (0.5% below list) — sets the bar for 1% rule.
• Cap rate 7.7% vs local median 3.6% in Vassar — 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 60/100 on livability (#597 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools F, crime F.
• Vassar Public Schools (town): math 20% / reading 24% proficiency, ranked #450 of 540 in MI (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 82 active listings in the ZIP; 56 units permitted in Tuscola County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Tuscola County population projected at -29% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 1 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 $21k; list at $85k implies a 305% gain — meaningful room to come down on a strong offer.

Recommended offer $84,551 (0.5% below list)

Questions for the listing agent

1. Built in 1965 — 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. 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?
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.99% ✗
• Cap rate: 7.69%
• Cash-on-cash: 4.98%
• DSCR: 1.22
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $170,140
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4743 Brown Rd	0.06mi	3/1.0 (+1)	1,040 (+11%)	23mo	$173,000	$166	56
6755 Hess Rd	0.75mi	3/1.0 (+1)	1,024 (+9%)	6mo	$185,000	$181	40

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: -8.6%
• Equity multiple: 0.69×
• Total profit: $-7,483
• Equity at exit: $12,674

10-year hold

• IRR: 0.9%
• Equity multiple: 1.07×
• Total profit: $1,588
• Equity at exit: $7,349

Cash invested: $23,800 (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 48768

• Home prices YoY: -23.6%
• Active inventory: 82
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $846 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$88 /mo · $1,057/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$178
• Net cashflow: $99

Break-even live

Break-even rent $721

Max offer price $85,000

Occupancy floor 83%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $85,000 Active 1 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: $1,057 · $88/mo
• Projected year-2 tax: $1,183 · $99/mo
• Expected delta: +$126/yr (+$11/mo · 11.9%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 14 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: $10,146
• − Mortgage interest: −$4,761
• − Property taxes: −$1,057
• − Insurance: −$425
• − Repairs & maintenance: −$812
• − Management: −$812
• − Depreciation: −$2,473
• Taxable loss: −$193
• Est. tax savings @ 24.0%: +$46
• After-tax cash flow: $1,231/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: Vassar Public Schools
• NCES district ID: 2634710
• Math proficiency: 20% ▼ -4.00%
• Reading proficiency: 24% ▼ -15.00%
• Median HH income: $41,418
• Composite: 18.74/100
• National rank: #8878
• State rank: #450 of 540 in MI

Livability — Vassar

• Score: 60/100
• State rank: #597
• US rank: #19448

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 9,144
• Population (ZIP): 9,144

Population outlook (Tuscola County) Hauer SSP2

• Today (2025): 49,930 people
• By 2030: 47,294 · -5.3%
• By 2040: 41,504 · -16.9%
• By 2050: 35,560 · -28.8%
• By 2075: 24,455 · -51.0%
• By 2100: 16,507 · -66.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 5% Black 2%
• Common ancestry: Romanian 12% Lithuanian 3% Slovak 1%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Tuscola

• 2024 margin: Solid R (+43.0) · D 27.9% · R 70.9% · Other 1.3%
• 2008→2024 swing: -42.1pp toward R · 2008: -0.8pp · 2024: -43.0pp
• All cycles: 2024: R+43.0 2020: R+39.3 2016: R+38.0 2012: R+10.8 2008: R+0.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -79.32%
• Current HPI: 257.233
• 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

+304.8% since first listed

3 events — show timeline

• 2026-06-17 Listed $85,000 REALCOMP
• 2026-06-17 Listed $85,000 MiRealSource-MiMLS
• 1990-05-30 Sold (Public Records) $21,000 Public Records

Property tax history

+7.5%/yr

Latest (2025): $1,057 · +4.1% YoY. Source: county tax records.