8590 W Thomas Rd · Benona, MI 49455

$99,000

4 bd · 1.5 ba · 1,368 sqft · SingleFamily · 84 Days on market

Built 1960 $72/sqft · 62% below area

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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
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

**Home to be moved off land** This well-maintained stick-built ranch-style home offers nearly 1,400 sq. ft. of comfortable living space, featuring 4 generously sized bedrooms and 1.5 updated baths. Home is being sold without land and must be placed on property owned by the buyer. A mover is already arranged, making this a rare opportunity to secure a full-size home with minimal hassle. Step inside from the inviting front porch into a bright living room featuring rich hardwood floors, natural wood trim, a stylish stacked stone fireplace, and a large picture window that fills the space with natural light. The updated kitchen offers white soft-close cabinetry, tiled backsplash, and a convenient snack bar overlooking the dining area. The main floor includes laundry, four spacious bedrooms, and 1.5 baths, providing a functional layout with easy single-level living. Opportunities like this are hard to find--schedule your showing today.

Key facts

• Inviting front porch
• Rich hardwood floors
• Large picture window

Tags

• STICK-BUILT RANCH-STYLE HOME
• INVITING FRONT PORCH
• RICH HARDWOOD FLOORS
• STACKED STONE FIREPLACE
• LARGE PICTURE WINDOW
• WHITE SOFT-CLOSE CABINETRY

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $494 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $93k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Shelby Public Schools (rural): math 18% / reading 31% proficiency, ranked #433 of 540 in MI (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 58 active listings in the ZIP; 147 units permitted in Oceana County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Oceana County population projected at -18% 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 $28k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($93k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y ago; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $93,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.41% ✓
• Cap rate: 12.28%
• Cash-on-cash: 21.39%
• DSCR: 1.95
• GRM: 5.9

CMA / ARV

• ARV (median comp): $259,911
• List price: $99,000
• Delta: -58.06%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4743 S Scenic Dr	0.38mi	3/2.0 (-1)	1,500 (+10%)	16mo	$280,100	$187	46

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: 13.9%
• Equity multiple: 1.56×
• Total profit: $15,396
• Equity at exit: $14,761

10-year hold

• IRR: 22.7%
• Equity multiple: 2.94×
• Total profit: $53,814
• Equity at exit: $8,560

Cash invested: $27,720 (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 49455

• Home prices YoY: -27.0%
• Active inventory: 58
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,393 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$46 /mo · $556/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $494

Break-even live

Break-even rent $768

Max offer price $99,000

Occupancy floor 60%

Sensitivity live

Price	-10% $550	-5% $522	+0% $494	+5% $466	+10% $438
Rent	-10% $384	-5% $439	+0% $494	+5% $549	+10% $604
Rate	-1.0pp $544	-0.5pp $519	base $494	+0.5pp $468	+1.0pp $442

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-21
   days on market $99,000 Active 84 DOM
2. 2026-06-18
   days on market $99,000 Active 82 DOM
3. 2026-06-17
   pricedays on market $99,000 Active 81 DOM
4. 2026-06-16
   days on market $109,000 Active 80 DOM
5. 2026-06-15
   days on market $109,000 Active 79 DOM
6. 2026-06-13
   days on market $109,000 Active 77 DOM
7. 2026-06-12
   days on market $109,000 Active 76 DOM
8. 2026-06-09
   days on market $109,000 Active 73 DOM
9. 2026-06-08
   days on market $109,000 Active 72 DOM
10. 2026-06-07
    days on market $109,000 Active 71 DOM
11. 2026-06-05
    days on market $109,000 Active 69 DOM
12. 2026-06-04
    days on market $109,000 Active 67 DOM
13. 2026-06-02
    days on market $109,000 Active 66 DOM
14. 2026-06-01
    days on market $109,000 Active 65 DOM
15. 2026-05-31
    days on market $109,000 Active 64 DOM
16. 2026-05-31
    days on market $109,000 Active 63 DOM
17. 2026-03-27
    listed $109,000 Active 952-char remark

    Show marketing remark (950 chars)

    * * Home to be moved off land * * This well-maintained stick-built ranch-style home offers nearly 1,400 sq. ft. of comfortable living space, featuring 4 generously sized bedrooms and 1.5 updated baths. Home is being sold without land and must be placed on property owned by the buyer. A mover is already arranged, making this a rare opportunity to secure a full-size home with minimal hassle. Step inside from the inviting front porch into a bright living room featuring rich hardwood floors, natural wood trim, a stylish stacked stone fireplace, and a large picture window that fills the space with natural light. The updated kitchen offers white soft-close cabinetry, tiled backsplash, and a convenient snack bar overlooking the dining area. The main floor includes laundry, four spacious bedrooms, and 1.5 baths, providing a functional layout with easy single-level living. Opportunities like this are hard to find--schedule your showing today.

18. 2026-03-27
    listed $109,000 Active 950-char remark

    Show marketing remark (950 chars)

    * * Home to be moved off land * * This well-maintained stick-built ranch-style home offers nearly 1,400 sq. ft. of comfortable living space, featuring 4 generously sized bedrooms and 1.5 updated baths. Home is being sold without land and must be placed on property owned by the buyer. A mover is already arranged, making this a rare opportunity to secure a full-size home with minimal hassle. Step inside from the inviting front porch into a bright living room featuring rich hardwood floors, natural wood trim, a stylish stacked stone fireplace, and a large picture window that fills the space with natural light. The updated kitchen offers white soft-close cabinetry, tiled backsplash, and a convenient snack bar overlooking the dining area. The main floor includes laundry, four spacious bedrooms, and 1.5 baths, providing a functional layout with easy single-level living. Opportunities like this are hard to find--schedule your showing today.

19. 2026-03-27
    listed $109,000 Active

    Show marketing remark (950 chars)

    * * Home to be moved off land * * This well-maintained stick-built ranch-style home offers nearly 1,400 sq. ft. of comfortable living space, featuring 4 generously sized bedrooms and 1.5 updated baths. Home is being sold without land and must be placed on property owned by the buyer. A mover is already arranged, making this a rare opportunity to secure a full-size home with minimal hassle. Step inside from the inviting front porch into a bright living room featuring rich hardwood floors, natural wood trim, a stylish stacked stone fireplace, and a large picture window that fills the space with natural light. The updated kitchen offers white soft-close cabinetry, tiled backsplash, and a convenient snack bar overlooking the dining area. The main floor includes laundry, four spacious bedrooms, and 1.5 baths, providing a functional layout with easy single-level living. Opportunities like this are hard to find--schedule your showing today.

20. 2017-09-01
    soldstatus $148,000
21. 2017-09-01
    soldstatus $148,000 Sold
22. 2017-09-01
    soldstatus $148,000
23. 2017-07-28
    status Pending
24. 2017-07-23
    listed $149,900 Active
25. 2017-07-20
    listed $149,900
26. 2012-05-29
    soldstatus $18,500

ⓘ 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: $556 · $46/mo
• Projected year-2 tax: $1,040 · $87/mo
• Expected delta: +$484/yr (+$40/mo · 87.1%)

ⓘ 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 1/10 Low 7 d/yr ≥92°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,720
• − Mortgage interest: −$5,546
• − Property taxes: −$556
• − Insurance: −$495
• − Repairs & maintenance: −$1,338
• − Management: −$1,338
• − Depreciation: −$2,880
• Taxable income: $4,569
• Est. tax owed @ 24.0%: −$1,097
• After-tax cash flow: $4,832/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: Shelby Public Schools
• NCES district ID: 2631320
• Math proficiency: 18% ▼ -8.00%
• Reading proficiency: 31% ▼ -1.00%
• Median HH income: $41,759
• Composite: 20.8/100
• National rank: #8509
• State rank: #433 of 540 in MI

Livability — Benona

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

Census & demographics

• Population (ZIP): 5,272

Population outlook (Oceana County) Hauer SSP2

• Today (2025): 25,141 people
• By 2030: 24,324 · -3.2%
• By 2040: 22,484 · -10.6%
• By 2050: 20,561 · -18.2%
• By 2075: 16,280 · -35.2%
• By 2100: 11,376 · -54.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 32% Two or more races 11% Native American 1%
• Hispanic origin (detail): Mexican 28%
• Common ancestry: Iranian 5% Romanian 3% Portuguese 2%
• Foreign-born: 10% · Canada
• Languages at home: 76% English-only · Spanish 24%

Political lean MEDSL · Oceana

• 2024 margin: Solid R (+30.0) · D 34.2% · R 64.2% · Other 1.6%
• 2008→2024 swing: -34.4pp toward R · 2008: 4.3pp · 2024: -30.0pp
• All cycles: 2024: R+30.0 2020: R+28.1 2016: R+27.3 2012: R+10.3 2008: D+4.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -77.16%
• Current HPI: 208.6615
• 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

+489.2% since first listed

10 events — show timeline

• 2026-03-27 Listed $109,000 REALCOMP
• 2026-03-27 Listed $109,000 MiRealSource-MiMLS
• 2026-03-27 Listed $109,000 SW Michigan MLS
• 2017-09-01 Sold (Public Records) $148,000 Public Records
• 2017-09-01 Sold (MLS) $148,000 SW Michigan MLS
• 2017-09-01 Sold (MLS) $148,000 REALCOMP
• 2017-07-28 Pending — SW Michigan MLS
• 2017-07-23 Listed $149,900 SW Michigan MLS
• 2017-07-20 Listed $149,900 REALCOMP
• 2012-05-29 Sold (Public Records) $18,500 Public Records

Property tax history

-6.8%/yr

Latest (2025): $556 · -55.9% YoY. Source: county tax records.