270 W Sanilac · Sandusky, MI 48471

$219,900

5 bd · 2.5 ba · 2,300 sqft · SingleFamily · 149 Days on market

Built 1942 0.30 ac lot $96/sqft · 11% below area Est $248k · 11% under

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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).

• ARV discount +12.5/15.0
• Cash flow +8.1/30.0
• Appreciation +5.9/10.0
• Schools +3.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• 1% rule +1.3/10.0

Listing remarks MLS

This spacious 5 bedroom, 2.5 bath home offers exceptional flexibility and opportunity. With a thoughtful layout and generous square footage, the property can easily accommodate a large household, multigenerational living, or work-from-home lifestyle. Multiple living areas and well-proportioned bedrooms provide comfort and privacy throughout. A standout feature of this home is its strong potential to be converted into a two-unit apartment setup. The existing layout lends itself well to the separation of living spaces, making it an attractive option for investors or owner-occupants seeking to generate rental income while residing on-site. With the right vision and updates, this property could become a highly desirable dual-unit residence. Whether you're seeking a spacious single-family home or a value-add investment opportunity, this versatile property offers endless possibilities.

Key facts

• 0.3 acre lot
• Garage
• Built 1942

Tags

• TWO-UNIT APARTMENT SETUP
• SEPARATION OF LIVING SPACES

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-212 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $182k (17.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $138k (37.0% below list).
• Recommended offer: $138k (37.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 68/100 on livability (#362 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment D, amenities F, commute F.
• Sandusky Community School District (town): math 40% / reading 48% proficiency, ranked #169 of 540 in MI (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 22 active listings in the ZIP; 63 units permitted in Sanilac County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($2k loan paydown + $4k appreciation (1.8% local appreciation)).
• Sanilac County population projected at -31% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 149 days — a 12% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 7y 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 $152k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $138,472 (37.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 149 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
3. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.63% ✗
• Cap rate: 5.14%
• Cash-on-cash: -4.13%
• DSCR: 0.82
• GRM: 13.2

CMA / ARV

• ARV (median comp): $247,516
• List price: $219,900
• Delta: -9.10%
• Verdict: FAIR
• Comps: 11 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
184 S Elk St	0.46mi	5/2.0	2,200 (-4%)	12mo	$174,000	$79	60
260 N Elk St	0.51mi	4/1.5 (-1)	2,534 (+10%)	11mo	$245,000	$97	41

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

Projected returns pro-forma

1.79% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-818
• Equity at exit: $84,295

10-year hold

• IRR: 4.1%
• Equity multiple: 1.55×
• Total profit: $33,801
• Equity at exit: $119,540

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 48471

• Home prices YoY: 0.9%
• Active inventory: 22
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $1,385 medium
• Mortgage (P&I): −$1,153
• Tax from tax record: −$61 /mo · $731/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $-212

Break-even live

Break-even rent $1,653

Max offer price $182,479

Occupancy floor —

Sensitivity live

Price	-10% $-87	-5% $-150	+0% $-212	+5% $-274	+10% $-336
Rent	-10% $-321	-5% $-267	+0% $-212	+5% $-157	+10% $-102
Rate	-1.0pp $-101	-0.5pp $-156	base $-212	+0.5pp $-269	+1.0pp $-327

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: —

Listing history 37 events

1. 2026-06-21
   days on market $219,900 Active 149 DOM
2. 2026-06-18
   price $219,900 Active 147 DOM
3. 2026-06-18
   days on market $225,000 Active 147 DOM
4. 2026-06-17
   days on market $225,000 Active 146 DOM
5. 2026-06-16
   days on market $225,000 Active 145 DOM
6. 2026-06-15
   days on market $225,000 Active 144 DOM
7. 2026-06-13
   days on market $225,000 Active 142 DOM
8. 2026-06-12
   days on market $225,000 Active 141 DOM
9. 2026-06-09
   days on market $225,000 Active 138 DOM
10. 2026-06-08
    days on market $225,000 Active 137 DOM
11. 2026-06-07
    days on market $225,000 Active 136 DOM
12. 2026-06-05
    days on market $225,000 Active 134 DOM
13. 2026-06-04
    days on market $225,000 Active 132 DOM
14. 2026-06-02
    days on market $225,000 Active 131 DOM
15. 2026-06-01
    days on market $225,000 Active 130 DOM
16. 2026-05-31
    days on market $225,000 Active 129 DOM
17. 2026-05-31
    days on market $225,000 Active 128 DOM
18. 2026-04-07
    price $225,000 892-char remark

    Show marketing remark (892 chars)

    This spacious 5 bedroom, 2.5 bath home offers exceptional flexibility and opportunity. With a thoughtful layout and generous square footage, the property can easily accommodate a large household, multigenerational living, or work-from-home lifestyle. Multiple living areas and well-proportioned bedrooms provide comfort and privacy throughout. A standout feature of this home is its strong potential to be converted into a two-unit apartment setup. The existing layout lends itself well to the separation of living spaces, making it an attractive option for investors or owner-occupants seeking to generate rental income while residing on-site. With the right vision and updates, this property could become a highly desirable dual-unit residence. Whether you're seeking a spacious single-family home or a value-add investment opportunity, this versatile property offers endless possibilities.

19. 2026-04-06
    price $225,000 892-char remark

    Show marketing remark (892 chars)

    This spacious 5 bedroom, 2.5 bath home offers exceptional flexibility and opportunity. With a thoughtful layout and generous square footage, the property can easily accommodate a large household, multigenerational living, or work-from-home lifestyle. Multiple living areas and well-proportioned bedrooms provide comfort and privacy throughout. A standout feature of this home is its strong potential to be converted into a two-unit apartment setup. The existing layout lends itself well to the separation of living spaces, making it an attractive option for investors or owner-occupants seeking to generate rental income while residing on-site. With the right vision and updates, this property could become a highly desirable dual-unit residence. Whether you're seeking a spacious single-family home or a value-add investment opportunity, this versatile property offers endless possibilities.

20. 2026-01-23
    listed $229,000 Active 892-char remark

    Show marketing remark (892 chars)

    This spacious 5 bedroom, 2.5 bath home offers exceptional flexibility and opportunity. With a thoughtful layout and generous square footage, the property can easily accommodate a large household, multigenerational living, or work-from-home lifestyle. Multiple living areas and well-proportioned bedrooms provide comfort and privacy throughout. A standout feature of this home is its strong potential to be converted into a two-unit apartment setup. The existing layout lends itself well to the separation of living spaces, making it an attractive option for investors or owner-occupants seeking to generate rental income while residing on-site. With the right vision and updates, this property could become a highly desirable dual-unit residence. Whether you're seeking a spacious single-family home or a value-add investment opportunity, this versatile property offers endless possibilities.

21. 2026-01-23
    listed $229,000 Active 892-char remark

    Show marketing remark (892 chars)

    This spacious 5 bedroom, 2.5 bath home offers exceptional flexibility and opportunity. With a thoughtful layout and generous square footage, the property can easily accommodate a large household, multigenerational living, or work-from-home lifestyle. Multiple living areas and well-proportioned bedrooms provide comfort and privacy throughout. A standout feature of this home is its strong potential to be converted into a two-unit apartment setup. The existing layout lends itself well to the separation of living spaces, making it an attractive option for investors or owner-occupants seeking to generate rental income while residing on-site. With the right vision and updates, this property could become a highly desirable dual-unit residence. Whether you're seeking a spacious single-family home or a value-add investment opportunity, this versatile property offers endless possibilities.

22. 2026-01-23
    historical $229,000 892-char remark

    Show marketing remark (892 chars)

    This spacious 5 bedroom, 2.5 bath home offers exceptional flexibility and opportunity. With a thoughtful layout and generous square footage, the property can easily accommodate a large household, multigenerational living, or work-from-home lifestyle. Multiple living areas and well-proportioned bedrooms provide comfort and privacy throughout. A standout feature of this home is its strong potential to be converted into a two-unit apartment setup. The existing layout lends itself well to the separation of living spaces, making it an attractive option for investors or owner-occupants seeking to generate rental income while residing on-site. With the right vision and updates, this property could become a highly desirable dual-unit residence. Whether you're seeking a spacious single-family home or a value-add investment opportunity, this versatile property offers endless possibilities.

23. 2021-03-15
    soldstatus $152,500
24. 2021-03-12
    soldstatus $152,500
25. 2021-03-12
    soldstatus $152,500 Closed
26. 2020-11-11
    status Pending
27. 2020-09-17
    price $167,900
28. 2020-08-25
    price $169,900
29. 2020-08-17
    price $175,000
30. 2020-07-31
    price $177,500
31. 2020-06-29
    listed $167,900
32. 2020-06-29
    listed $187,500 Active
33. 2019-06-07
    soldstatus $32,000 Closed
34. 2019-06-07
    soldstatus $32,000
35. 2019-05-28
    status Pending
36. 2019-05-14
    listed $29,900 Active
37. 2019-05-14
    listed $29,900

ⓘ 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: $731 · $61/mo
• Projected year-2 tax: $2,059 · $172/mo
• Expected delta: +$1,328/yr (+$111/mo · 181.5%)

ⓘ 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 ≥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: $16,617
• − Mortgage interest: −$12,318
• − Property taxes: −$731
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,329
• − Management: −$1,329
• − Depreciation: −$6,397
• Taxable loss: −$6,588
• Est. tax savings @ 24.0%: +$1,581
• After-tax cash flow: $-961/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: Sandusky Community School District
• NCES district ID: 2630840
• Math proficiency: 40% ▼ -9.00%
• Reading proficiency: 48% ▼ -4.00%
• Median HH income: $38,671
• Composite: 36.7/100
• National rank: #4598
• State rank: #169 of 540 in MI

Livability — Sandusky

• Score: 68/100
• State rank: #362
• US rank: #9299

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sandusky, MI
• City population: 5,518
• Population (ZIP): 5,518

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 (91%)
• Race & ethnicity: White 91% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Romanian 7% Lithuanian 3% Slovak 2%
• Foreign-born: 1%
• Languages at home: 96% English-only · Spanish 2%

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: ▲ 1.79%
• Current HPI: 202.536
• 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

+652.5% since first listed

20 events — show timeline

• 2026-04-07 Price Changed $225,000 MiRealSource-MiMLS
• 2026-04-06 Price Changed $225,000 REALCOMP
• 2026-01-23 Listed $229,000 REALCOMP
• 2026-01-23 Listed $229,000 MiRealSource-MiMLS
• 2026-01-23 Coming Soon $229,000 MiRealSource-MiMLS
• 2021-03-15 Sold (Public Records) $152,500 Public Records
• 2021-03-12 Sold (MLS) $152,500 MiRealSource-MiMLS
• 2021-03-12 Sold (MLS) $152,500 REALCOMP
• 2020-11-11 Pending — MiRealSource-MiMLS
• 2020-09-17 Price Changed $167,900 MiRealSource-MiMLS
• 2020-08-25 Price Changed $169,900 MiRealSource-MiMLS
• 2020-08-17 Price Changed $175,000 MiRealSource-MiMLS
• 2020-07-31 Price Changed $177,500 MiRealSource-MiMLS
• 2020-06-29 Listed $187,500 MiRealSource-MiMLS
• 2020-06-29 Listed $167,900 REALCOMP
• 2019-06-07 Sold (MLS) $32,000 REALCOMP
• 2019-06-07 Sold (MLS) $32,000 MiRealSource-MiMLS
• 2019-05-28 Pending — MiRealSource-MiMLS
• 2019-05-14 Listed $29,900 REALCOMP
• 2019-05-14 Listed $29,900 MiRealSource-MiMLS

Property tax history

-3.7%/yr

Latest (2025): $731 · -75.3% YoY. Source: county tax records.