56 E Lapeer St · Peck, MI 48466

$79,900

1 bd · 1.0 ba · 694 sqft · SingleFamily · 6 Days on market

Built 1930 8,712 sqft lot Est $83k · at est.

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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 +16.3/30.0
• ARV discount +9.3/15.0
• Appreciation +7.1/10.0
• DSCR +5.1/10.0
• 1% rule +4.5/10.0
• Livability +3.2/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This cozy little bungalow located in Village of Peck is a great buy!! Situated on a corner lot in town, this property is close to all the amenities in town. Property has been updated from head to toe and is ready for you to just move in. Could make a great investment property or if a small home fits your needs, this would be it!!

Key facts

• Updated property
• Close to amenities
• Corner lot

Tags

• CORNER LOT
• UPDATED PROPERTY
• CLOSE TO AMENITIES

Property features AI

Finance

• HOA & community: Homeowners association present

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; One-story
• Construction: Vinyl siding
• Exterior features: Corner lot; Paved road access; Lot dimensions approximately 66 x 132 (0.2 acre)

Interior

• Kitchen: Microwave; Oven; Refrigerator; Range
• Bedrooms: 4 total rooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Microwave; Oven; Refrigerator; Range; Has basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $45 ($535/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 $76k (5.5% below list).
• Recommended offer: $76k (5.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#502 in MI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D-, amenities F, commute F.
• Peck Community School District (rural): math 25% / reading 35% proficiency, ranked #532 of 760 in MI (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 9 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 63 units permitted in Sanilac County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($552 loan paydown + $3k appreciation (4.2% local appreciation)).
• Sanilac County population projected at -31% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.2% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 18y 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.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,535 (5.5% below list)

Questions for the listing agent

1. Built in 1930 — 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 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. 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.
5. 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.
6. 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: 0.95% ✗
• Cap rate: 6.96%
• Cash-on-cash: 2.39%
• DSCR: 1.11
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $83,280
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
56 E Lapeer St	0.00mi	1/1.0	694 (0%)	0mo	$83,000	$120	100

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.16% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.8%
• Equity multiple: 1.78×
• Total profit: $17,483
• Equity at exit: $41,255

10-year hold

• IRR: 14.1%
• Equity multiple: 3.34×
• Total profit: $52,405
• Equity at exit: $68,076

Cash invested: $22,372 (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 48466

• Home prices YoY: 4.4%
• Active inventory: 9
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $755 medium
• Mortgage (P&I): −$419
• Tax est. 1.5%: −$100 /mo · $1,198/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$159
• Net cashflow: $45

Break-even live

Break-even rent $699

Max offer price $79,900

Occupancy floor 89%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18 E Lapeer Rd Apt 3 Peck, MI	—	1.0	500	$650	$1.30	22d	1	0.08mi
84 W Rebecca St Unit 5 Peck, MI	2.0	1.0	736	$900	$1.22	1d	1	0.18mi

Listing history 6 events

1. 2026-05-01
   status Pending

   Show marketing remark (332 chars)

   This cozy little bungalow located in Village of Peck is a great buy!! Situated on a corner lot in town, this property is close to all the amenities in town. Property has been updated from head to toe and is ready for you to just move in. Could make a great investment property or if a small home fits your needs, this would be it!!

2. 2026-05-01
   status Pending 332-char remark

   Show marketing remark (332 chars)

   This cozy little bungalow located in Village of Peck is a great buy!! Situated on a corner lot in town, this property is close to all the amenities in town. Property has been updated from head to toe and is ready for you to just move in. Could make a great investment property or if a small home fits your needs, this would be it!!

3. 2026-04-25
   listed $79,900 Active

   Show marketing remark (332 chars)

   This cozy little bungalow located in Village of Peck is a great buy!! Situated on a corner lot in town, this property is close to all the amenities in town. Property has been updated from head to toe and is ready for you to just move in. Could make a great investment property or if a small home fits your needs, this would be it!!

4. 2026-04-25
   listed $79,900 Active 332-char remark

   Show marketing remark (332 chars)

   This cozy little bungalow located in Village of Peck is a great buy!! Situated on a corner lot in town, this property is close to all the amenities in town. Property has been updated from head to toe and is ready for you to just move in. Could make a great investment property or if a small home fits your needs, this would be it!!

5. 2008-08-15
   historical
6. 2008-07-02
   listed $74,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,064
• − Mortgage interest: −$4,476
• − Property taxes: −$1,198
• − Insurance: −$400
• − Repairs & maintenance: −$725
• − Management: −$725
• − Depreciation: −$2,324
• Taxable loss: −$784
• Est. tax savings @ 24.0%: +$188
• After-tax cash flow: $723/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: Peck Community School District
• NCES district ID: 2627690
• Math proficiency: 25% ▲ 10.00%
• Reading proficiency: 35% ▲ 10.00%
• Median HH income: $44,376
• Composite: 28.48/100
• National rank: #12096
• State rank: #532 of 760 in MI

Livability — Peck

• Score: 64/100
• State rank: #502
• US rank: #14853

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Peck, MI
• Population (ZIP): 1,462

Population outlook (Sanilac County) Hauer SSP2

• Today (2025): 37,948 people
• By 2030: 35,772 · -5.7%
• By 2040: 30,996 · -18.3%
• By 2050: 26,280 · -30.7%
• By 2075: 17,471 · -54.0%
• By 2100: 10,572 · -72.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 7% Two or more races 7% Black 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 7% Slovak 5% Lithuanian 2%
• Foreign-born: 1% · Canada

Political lean MEDSL · Sanilac

• 2024 margin: Solid R (+47.7) · D 25.5% · R 73.2% · Other 1.3%
• 2008→2024 swing: -39.6pp toward R · 2008: -8.1pp · 2024: -47.7pp
• All cycles: 2024: R+47.7 2020: R+45.6 2016: R+44.5 2012: R+20.4 2008: R+8.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.16%
• Current HPI: 97.8105
• 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

+6.7% since first listed

6 events — show timeline

• 2026-05-01 Pending — REALCOMP
• 2026-05-01 Pending — MiRealSource-MiMLS
• 2026-04-25 Listed $79,900 REALCOMP
• 2026-04-25 Listed $79,900 MiRealSource-MiMLS
• 2008-08-15 Listing Removed — MiRealSource-MiMLS
• 2008-07-02 Listed $74,900 MiRealSource-MiMLS

Property tax history

+0.8%/yr

Latest (2025): $90 · -70.3% YoY. Source: county tax records.