2026 James Ave · Caledonia, MI 48867

$139,900

4 bd · 2.0 ba · 1,400 sqft · SingleFamily · 31 Days on market

7,405 sqft lot $100/sqft · at area comps Est $136k · 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 +21.0/30.0
• DSCR +6.7/10.0
• ARV discount +6.1/15.0
• 1% rule +5.2/10.0
• Livability +3.9/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice duplex in Caledonia Township. New roof 2-3 years ago complete. 2028 James is a complete remodel & is vacant. New flooring throughout, new window trim, tub professionally reglazed, all new paint. Outside and deck recently power washed. 2026 James has long term tenant. Apartments are mirror image. Large storage unit in rear of property. Each unit has private entrance & parking. New electric water heater in 2028 side. Electric heat.

Key facts

• Complete remodel
• New window trim
• New flooring

Tags

• COMPLETE REMODEL
• NEW FLOORING
• NEW WINDOW TRIM
• TUB PROFESSIONALLY REGLAZED
• NEW PAINT
• PRIVATE ENTRANCE

Property features AI

Finance

• Financial info: Listed as residential income / multi-family; One unit reported with actual rent of $665

Exterior

• Parking: Assigned parking
• Utilities: Public water; Public sewer
• Home design: Multi-family residential; One story
• Construction: Vinyl siding
• Exterior features: Deck; Paved road access; Lot about 0.17 acres (57 x 132)

Interior

• Kitchen: Oven; Refrigerator; Range
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Radiant heating; Separate meters for utilities; No central cooling
• Interior features: Electric water heater; Oven; Refrigerator; Range; Crawl space basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $197 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 2.5% in Caledonia — 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 (#101 in MI, #2,449 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F, health & safety F.
• Corunna Public Schools (town): math 24% / reading 40% proficiency, ranked #330 of 540 in MI (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 162 active listings in the ZIP; 74 units permitted in Shiawassee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Shiawassee County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 6 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.
• Current owner paid $28k; list at $140k implies a 400% gain — meaningful room to come down on a strong offer.

Recommended offer $135,703 (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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-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?
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: 1.02% ✓
• Cap rate: 7.98%
• Cash-on-cash: 6.02%
• DSCR: 1.27
• GRM: 8.2

CMA / ARV

• ARV (median comp): $135,592
• List price: $139,900
• Delta: 3.18%
• Verdict: FAIR
• Comps: 2 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
757 Union Ave Ave	0.19mi	3/2.0 (-1)	1,364 (-3%)	21mo	$160,000	$117	64
1912 Corunna Ave	0.19mi	3/1.5 (-1)	1,347 (-4%)	18mo	$75,000	$56	62
709 Linwood St	0.42mi	4/1.0	1,332 (-5%)	8mo	$179,900	$135	62
873 Union Ave	0.19mi	3/1.5 (-1)	1,570 (+12%)	10mo	$185,000	$118	56
873 Union Ave	0.20mi	3/1.5 (-1)	1,570 (+12%)	10mo	$185,000	$118	55
631 Aiken St	0.40mi	4/2.0	1,497 (+7%)	23mo	$175,000	$117	50
1921 Corunna Ave Ave	0.16mi	3/1.0 (-1)	1,547 (+10%)	24mo	$135,000	$87	46
1713 Melinda St	0.43mi	4/3.0	1,542 (+10%)	19mo	$212,000	$137	43

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: -7.0%
• Equity multiple: 0.74×
• Total profit: $-10,152
• Equity at exit: $20,860

10-year hold

• IRR: 2.6%
• Equity multiple: 1.19×
• Total profit: $7,274
• Equity at exit: $12,096

Cash invested: $39,172 (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 48867

• Active inventory: 162
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,425 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$137 /mo · $1,643/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $197

Break-even live

Break-even rent $1,176

Max offer price $139,900

Occupancy floor 81%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $139,900 Active 31 DOM
2. 2026-06-17
   days on market $139,900 Active 30 DOM
3. 2026-06-16
   statusdays on market $139,900 Active 29 DOM

   Show marketing remark (450 chars)

   Nice duplex in Caledonia Township. New roof 2-3 years ago complete. 2028 James is a complete remodel & is vacant. New flooring throughout, new window trim, tub professionally reglazed, all new paint. Outside and deck recently power washed. 2026 James has long term tenant. Apartments are mirror image. Large storage unit in rear of property. Each unit has private entrance & parking. New electric water heater in 2028 side. Electric heat.

4. 2026-06-12
   statusdays on market $139,900 Pending 28 DOM
5. 2026-06-09
   days on market $139,900 Active 27 DOM
6. 2026-06-08
   days on market $139,900 Active 26 DOM
7. 2026-06-07
   days on market $139,900 Active 25 DOM
8. 2026-06-05
   days on market $139,900 Active 23 DOM
9. 2026-06-04
   days on market $139,900 Active 21 DOM
10. 2026-06-02
    days on market $139,900 Active 20 DOM
11. 2026-06-01
    days on market $139,900 Active 19 DOM
12. 2026-05-31
    days on market $139,900 Active 18 DOM
13. 2026-05-31
    days on market $139,900 Active 17 DOM
14. 2026-05-11
    listed $139,900 Active 450-char remark

    Show marketing remark (450 chars)

    Nice duplex in Caledonia Township. New roof 2-3 years ago complete. 2028 James is a complete remodel & is vacant. New flooring throughout, new window trim, tub professionally reglazed, all new paint. Outside and deck recently power washed. 2026 James has long term tenant. Apartments are mirror image. Large storage unit in rear of property. Each unit has private entrance & parking. New electric water heater in 2028 side. Electric heat.

15. 2026-05-11
    listed $139,900 Active 450-char remark

    Show marketing remark (450 chars)

    Nice duplex in Caledonia Township. New roof 2-3 years ago complete. 2028 James is a complete remodel & is vacant. New flooring throughout, new window trim, tub professionally reglazed, all new paint. Outside and deck recently power washed. 2026 James has long term tenant. Apartments are mirror image. Large storage unit in rear of property. Each unit has private entrance & parking. New electric water heater in 2028 side. Electric heat.

16. 2009-02-18
    soldstatus $28,000

    Show marketing remark (256 chars)

    Hud Home. Sold 'as Is' By Elec Bid Only. For Prop. Conditions, Forms, Lbp, Discl, Avail & Owner Occupant Incentives See Website In Agent Remarks. Fha Case #262-155502. Insured W Escrow Repairs $1,155. Bids Due By 11-16-08 11:59 Pm Or Daily Until Sold

17. 2009-02-18
    soldstatus $28,000

    Show marketing remark (256 chars)

    Hud Home. Sold 'as Is' By Elec Bid Only. For Prop. Conditions, Forms, Lbp, Discl, Avail & Owner Occupant Incentives See Website In Agent Remarks. Fha Case #262-155502. Insured W Escrow Repairs $1,155. Bids Due By 11-16-08 11:59 Pm Or Daily Until Sold

18. 2008-11-07
    listed $25,000

    Show marketing remark (256 chars)

    Hud Home. Sold 'as Is' By Elec Bid Only. For Prop. Conditions, Forms, Lbp, Discl, Avail & Owner Occupant Incentives See Website In Agent Remarks. Fha Case #262-155502. Insured W Escrow Repairs $1,155. Bids Due By 11-16-08 11:59 Pm Or Daily Until Sold

19. 2008-11-07
    listed $25,000

    Show marketing remark (256 chars)

    Hud Home. Sold 'as Is' By Elec Bid Only. For Prop. Conditions, Forms, Lbp, Discl, Avail & Owner Occupant Incentives See Website In Agent Remarks. Fha Case #262-155502. Insured W Escrow Repairs $1,155. Bids Due By 11-16-08 11:59 Pm Or Daily Until Sold

ⓘ 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: $1,643 · $137/mo
• Projected year-2 tax: $1,899 · $158/mo
• Expected delta: +$256/yr (+$21/mo · 15.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (shaded) · 17% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,095
• − Mortgage interest: −$7,837
• − Property taxes: −$1,643
• − Insurance: −$700
• − Repairs & maintenance: −$1,368
• − Management: −$1,368
• − Depreciation: −$4,070
• Taxable income: $111
• Est. tax owed @ 24.0%: −$27
• After-tax cash flow: $2,332/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: Corunna Public Schools
• NCES district ID: 2610860
• Math proficiency: 24% ▲ 1.00%
• Reading proficiency: 40% ▬ 0.00%
• Median HH income: $47,801
• Composite: 27.59/100
• National rank: #6935
• State rank: #330 of 540 in MI

Livability — Caledonia

• Score: 78/100
• State rank: #101
• US rank: #2449

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Middletown, MI
• Population (ZIP): 27,399

Population outlook (Shiawassee County) Hauer SSP2

• Today (2025): 64,238 people
• By 2030: 61,434 · -4.4%
• By 2040: 55,054 · -14.3%
• By 2050: 48,426 · -24.6%
• By 2075: 35,995 · -44.0%
• By 2100: 26,678 · -58.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Romanian 6% Lithuanian 3% Iranian 3%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1% Arabic 1%

Political lean MEDSL · Shiawassee

• 2024 margin: Strong R (+23.1) · D 37.7% · R 60.8% · Other 1.6%
• 2008→2024 swing: -31.7pp toward R · 2008: 8.6pp · 2024: -23.1pp
• All cycles: 2024: R+23.1 2020: R+19.9 2016: R+19.6 2012: D+3.7 2008: D+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -234.79%
• Current HPI: 190.5775
• 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

+459.6% since first listed

10 events — show timeline

• 2026-06-16 Relisted — REALCOMP
• 2026-06-16 Relisted — MiRealSource-MiMLS
• 2026-06-10 Pending — REALCOMP
• 2026-06-10 Pending — MiRealSource-MiMLS
• 2026-05-11 Listed $139,900 MiRealSource-MiMLS
• 2026-05-11 Listed $139,900 REALCOMP
• 2009-02-18 Sold (MLS) $28,000 MiRealSource-MiMLS
• 2009-02-18 Sold (MLS) $28,000 REALCOMP
• 2008-11-07 Listed $25,000 MiRealSource-MiMLS
• 2008-11-07 Listed $25,000 REALCOMP

Property tax history

+4.4%/yr

Latest (2025): $1,643 · +3.0% YoY. Source: county tax records.