685 Heather Ln · Marysville, MI 48040

$219,900

3 bd · 1.0 ba · 1,416 sqft · Condo · 31 Days on market

Built 1993 $50/mo HOA · 1% of rent

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

CHARMING RANCH HOME IN MARYSVILLE. THIS COZY 3 BEDROOM, 1 BATH HOME IS SITUATED ON A SPACIOUS CORNER LOT. CONVENIENTLY LOCATED CLOSE TO SCHOOLS, SHOPPING AND EVERYDAY AMENITIES, THIS HOME OFFERS BOTH COMFORT AND CONVENIENCE. STEP INSIDE TO FIND A FUNCTIONAL LAYOUT WITH PLENTY OF POTENTIAIL. ALL APPLIENCES TO STAY. THIS HOME OFFERS A FINISHED BASEMENT, GREAT FOR EXTRA LIVING SPACE, PLAY AREA, OR ENTERTAINING GUESTS. OUTSIDE, ENJOY AMPLE YARD SPACE AND A DETACHED 2 CAR GARAGE. THIS HOME NEEDS A LITTLE TLC, MAKING IT A PERFECT OPPORTUNITY TO ADD YOUR PERSONAL TOUCHES. GREAT HOME FOR A FIRST TIME HOME BUYER. SCHEDULE YOUR SHOWING TODAY!!

Key facts

• Finished basement
• Ample yard space
• Corner lot

Tags

• CORNER LOT
• FINISHED BASEMENT
• AMPLE YARD SPACE

Property features AI

Finance

• Other: Residential property listed by Hanging Gardens Real Estate LLC
• HOA & community: Homeowners association with a $150 quarterly fee (about $50/month); Subdivision: ORCHARD VIEW CONDO

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Vinyl siding exterior
• Construction: Vinyl siding construction; Asphalt roof; One level
• Exterior features: Asphalt roof; Paved road access; Lot dimensions approximately 83.95 x 130 (0.2 acres); Ground-level entry with steps

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Finished basement; Total of 6 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath condo listed at $220k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $220k).
• Recommended offer: $213k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.1% vs local median 4.7% in Marysville — 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 78/100 on livability (#114 in MI, #2,700 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities C-, employment D+, health & safety D.
• Marysville Public Schools (suburban): math 42% / reading 53% proficiency, ranked #115 of 540 in MI (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 84 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 232 units permitted in St. Clair County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• St. Clair County population projected at -20% 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 $62k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($213k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 21y ago 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 $143k; list at $220k implies a 54% gain — meaningful room to come down on a strong offer.

Recommended offer $213,303 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.64% ✓
• Cap rate: 13.14%
• Cash-on-cash: 24.45%
• DSCR: 2.09
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 17.8%
• Equity multiple: 1.72×
• Total profit: $44,374
• Equity at exit: $32,788

10-year hold

• IRR: 26.3%
• Equity multiple: 3.31×
• Total profit: $141,940
• Equity at exit: $19,013

Cash invested: $61,572 (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 48040

• Home prices YoY: -34.4%
• Active inventory: 84
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $3,607 medium
• Mortgage (P&I): −$1,153
• Tax from tax record: −$300 /mo · $3,600/yr
• Insurance: −$92
• HOA: −$50
• Vacancy / Maint / Mgmt: −$757
• Net cashflow: $1,255

Break-even live

Break-even rent $2,019

Max offer price $219,900

Occupancy floor 60%

Sensitivity live

Price	-10% $1,379	-5% $1,317	+0% $1,255	+5% $1,192	+10% $1,130
Rent	-10% $970	-5% $1,112	+0% $1,255	+5% $1,397	+10% $1,540
Rate	-1.0pp $1,365	-0.5pp $1,311	base $1,255	+0.5pp $1,198	+1.0pp $1,140

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3991 Brookstone Pl Port Huron, MI	1.0–3.0	1.0–2.0	980	$1,560	$1.59	0d	10	1.38mi
45 Gratiot Blvd Unit 1550273P Marysville, MI	2.0	1.5	1323	$5,151	$3.89	0d	1	1.41mi

HOA detail condo

• Monthly dues: $50 · $600/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-18
   days on market $219,900 Active 31 DOM
2. 2026-06-17
   days on market $219,900 Active 30 DOM
3. 2026-06-16
   days on market $219,900 Active 29 DOM
4. 2026-06-15
   days on market $219,900 Active 28 DOM
5. 2026-06-13
   days on market $219,900 Active 26 DOM
6. 2026-06-09
   days on market $219,900 Active 22 DOM
7. 2026-06-08
   days on market $219,900 Active 21 DOM
8. 2026-06-07
   days on market $219,900 Active 20 DOM
9. 2026-06-04
   days on market $219,900 Active 17 DOM
10. 2026-06-03
    days on market $219,900 Active 16 DOM
11. 2026-06-02
    days on market $219,900 Active 15 DOM
12. 2026-06-01
    days on market $219,900 Active 14 DOM
13. 2026-05-31
    days on market $219,900 Active 13 DOM
14. 2026-05-18
    listed $219,900 Active

    Show marketing remark (641 chars)

    CHARMING RANCH HOME IN MARYSVILLE. THIS COZY 3 BEDROOM, 1 BATH HOME IS SITUATED ON A SPACIOUS CORNER LOT. CONVENIENTLY LOCATED CLOSE TO SCHOOLS, SHOPPING AND EVERYDAY AMENITIES, THIS HOME OFFERS BOTH COMFORT AND CONVENIENCE. STEP INSIDE TO FIND A FUNCTIONAL LAYOUT WITH PLENTY OF POTENTIAIL. ALL APPLIENCES TO STAY. THIS HOME OFFERS A FINISHED BASEMENT, GREAT FOR EXTRA LIVING SPACE, PLAY AREA, OR ENTERTAINING GUESTS. OUTSIDE, ENJOY AMPLE YARD SPACE AND A DETACHED 2 CAR GARAGE. THIS HOME NEEDS A LITTLE TLC, MAKING IT A PERFECT OPPORTUNITY TO ADD YOUR PERSONAL TOUCHES. GREAT HOME FOR A FIRST TIME HOME BUYER. SCHEDULE YOUR SHOWING TODAY!!

15. 2026-05-18
    listed $219,900 Active 641-char remark

    Show marketing remark (641 chars)

    CHARMING RANCH HOME IN MARYSVILLE. THIS COZY 3 BEDROOM, 1 BATH HOME IS SITUATED ON A SPACIOUS CORNER LOT. CONVENIENTLY LOCATED CLOSE TO SCHOOLS, SHOPPING AND EVERYDAY AMENITIES, THIS HOME OFFERS BOTH COMFORT AND CONVENIENCE. STEP INSIDE TO FIND A FUNCTIONAL LAYOUT WITH PLENTY OF POTENTIAIL. ALL APPLIENCES TO STAY. THIS HOME OFFERS A FINISHED BASEMENT, GREAT FOR EXTRA LIVING SPACE, PLAY AREA, OR ENTERTAINING GUESTS. OUTSIDE, ENJOY AMPLE YARD SPACE AND A DETACHED 2 CAR GARAGE. THIS HOME NEEDS A LITTLE TLC, MAKING IT A PERFECT OPPORTUNITY TO ADD YOUR PERSONAL TOUCHES. GREAT HOME FOR A FIRST TIME HOME BUYER. SCHEDULE YOUR SHOWING TODAY!!

16. 2006-03-10
    soldstatus $142,700
17. 2006-03-07
    soldstatus $142,700 176-char remark

    Show marketing remark (176 chars)

    3 BEDROOM RANCH IN GREAT FAMILY NEIGHBORHOOD. NICELY LANDSCAPED W/ FRENCH DOORS LEADING TO STAMPED PATIO. 2.5 DETACHED GARAGE, TASTEFUL DECOR, FINISHED BASEMENT AND CORNER LOT!

18. 2006-03-07
    soldstatus $142,700

    Show marketing remark (176 chars)

    3 BEDROOM RANCH IN GREAT FAMILY NEIGHBORHOOD. NICELY LANDSCAPED W/ FRENCH DOORS LEADING TO STAMPED PATIO. 2.5 DETACHED GARAGE, TASTEFUL DECOR, FINISHED BASEMENT AND CORNER LOT!

19. 2006-01-30
    historical
20. 2006-01-30
    historical
21. 2005-12-28
    listed $139,900 176-char remark

    Show marketing remark (176 chars)

    3 BEDROOM RANCH IN GREAT FAMILY NEIGHBORHOOD. NICELY LANDSCAPED W/ FRENCH DOORS LEADING TO STAMPED PATIO. 2.5 DETACHED GARAGE, TASTEFUL DECOR, FINISHED BASEMENT AND CORNER LOT!

22. 2005-12-28
    listed $139,900

    Show marketing remark (176 chars)

    3 BEDROOM RANCH IN GREAT FAMILY NEIGHBORHOOD. NICELY LANDSCAPED W/ FRENCH DOORS LEADING TO STAMPED PATIO. 2.5 DETACHED GARAGE, TASTEFUL DECOR, FINISHED BASEMENT AND CORNER LOT!

23. 2005-12-28
    listed $139,900

    Show marketing remark (176 chars)

    3 BEDROOM RANCH IN GREAT FAMILY NEIGHBORHOOD. NICELY LANDSCAPED W/ FRENCH DOORS LEADING TO STAMPED PATIO. 2.5 DETACHED GARAGE, TASTEFUL DECOR, FINISHED BASEMENT AND CORNER LOT!

ⓘ 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: $3,600 · $300/mo
• Projected year-2 tax: $3,600 · $300/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥99°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $43,282
• − Mortgage interest: −$12,318
• − Property taxes: −$3,600
• − Insurance: −$1,100
• − Repairs & maintenance: −$3,463
• − Management: −$3,463
• − HOA: −$600
• − Depreciation: −$6,397
• Taxable income: $12,343
• Est. tax owed @ 24.0%: −$2,962
• After-tax cash flow: $12,093/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: Marysville Public Schools
• NCES district ID: 2623040
• Math proficiency: 42% ▼ -14.00%
• Reading proficiency: 53% ▼ -12.00%
• Median HH income: $58,817
• Composite: 41.51/100
• National rank: #3454
• State rank: #115 of 540 in MI

Livability — Marysville

• Score: 78/100
• State rank: #114
• US rank: #2700

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marysville, MI
• City population: 9,942
• Population (ZIP): 9,942

Population outlook (St. Clair County) Hauer SSP2

• Today (2025): 154,587 people
• By 2030: 150,031 · -2.9%
• By 2040: 138,177 · -10.6%
• By 2050: 124,390 · -19.5%
• By 2075: 95,825 · -38.0%
• By 2100: 68,672 · -55.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 1% Asian 1% Black 1%
• Common ancestry: Romanian 11% Iranian 6% Lithuanian 5%
• Foreign-born: 2% · Canada, Philippines
• Languages at home: 98% English-only · Other Asian/Pacific 1%

Political lean MEDSL · St. Clair

• 2024 margin: Solid R (+34.6) · D 32.0% · R 66.6% · Other 1.4%
• 2008→2024 swing: -37.3pp toward R · 2008: 2.6pp · 2024: -34.6pp
• All cycles: 2024: R+34.6 2020: R+30.2 2016: R+31.4 2012: R+7.1 2008: D+2.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -98.64%
• Current HPI: 188.3932
• 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

+57.2% since first listed

10 events — show timeline

• 2026-05-18 Listed $219,900 REALCOMP
• 2026-05-18 Listed $219,900 MiRealSource-MiMLS
• 2006-03-10 Sold (Public Records) $142,700 Public Records
• 2006-03-07 Sold (MLS) $142,700 MiRealSource-MiMLS
• 2006-03-07 Sold (MLS) $142,700 REALCOMP
• 2006-01-30 Listing Removed — REALCOMP
• 2006-01-30 Listing Removed — MiRealSource-MiMLS
• 2005-12-28 Listed $139,900 REALCOMP
• 2005-12-28 Listed $139,900 MiRealSource-MiMLS
• 2005-12-28 Listed $139,900 REALCOMP

Property tax history

+6.5%/yr

Latest (2025): $3,600 · +3.8% YoY. Source: county tax records.