190 Maple St · Concord, MI 49237

$699,000

91 bd · 196.0 ba · 9,516 sqft · MultiFamily · 137 Days on market

Built 1957 Fair condition 0.48 ac lot

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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).

• Cash flow +18.9/30.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• 1% rule +5.0/10.0
• Livability +3.4/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 7 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Don't miss this opportunity to own this 7 unit investment property. Recent updates to 3 of the vacant units will bring substantial rental value. Opportunity for rent raises on the remaining 4 units. Each unit has storage in the basement, separate meters and a 1 car garage. Showings subject to tenants rights.

Key facts

• Recent updates
• Separate meters
• 0.48 acre lot

Tags

• RECENT UPDATES
• SUBSTANTIAL RENTAL VALUE
• STORAGE IN THE BASEMENT
• SEPARATE METERS

What this means for you Summary

Snapshot

• This is a 7 × 1-bed/1-bath units multifamily listed at $699k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $710 ($9k/yr) — positive. Per door: $101/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $699k).
• Recommended offer: $615k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#396 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A; Watch: schools C-, amenities F, commute F.
• Concord Community Schools (rural): math 23% / reading 41% proficiency, ranked #319 of 540 in MI (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 32 active listings in the ZIP; 317 units permitted in Jackson County in 2024 (103 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $21k of value loss. Plan a longer hold.
• Jackson County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 137 days — a 12% lower offer ($615k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $101k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $600k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $615,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 137 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.00% ✓
• Cap rate: 7.51%
• Cash-on-cash: 4.36%
• DSCR: 1.19
• GRM: 8.3

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: -9.5%
• Equity multiple: 0.65×
• Total profit: $-67,915
• Equity at exit: $104,223

10-year hold

• IRR: -0.0%
• Equity multiple: 1.00×
• Total profit: $-445
• Equity at exit: $60,437

Cash invested: $195,720 (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 49237

• Home prices YoY: -23.2%
• Active inventory: 32
• Price-to-rent: 58.1×

Monthly cashflow live

• Estimated rent: $7,014 medium
• Mortgage (P&I): −$3,666
• Tax est. 1.5%: −$874 /mo · $10,485/yr
• Insurance: −$291
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,473
• Net cashflow: $710

Break-even live

Break-even rent $6,115

Max offer price $699,000

Occupancy floor 85%

7-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 7× units	1	1	$7,014
Total (7 units)			$7,014

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: $174,750
• Closing costs: $20,970
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-19
   days on market $699,000 Active 137 DOM
2. 2026-06-18
   days on market $699,000 Active 136 DOM
3. 2026-06-17
   days on market $699,000 Active 135 DOM
4. 2026-06-16
   days on market $699,000 Active 134 DOM
5. 2026-06-15
   days on market $699,000 Active 133 DOM
6. 2026-06-14
   days on market $699,000 Active 131 DOM
7. 2026-06-13
   days on market $699,000 Active 130 DOM
8. 2026-06-10
   days on market $699,000 Active 128 DOM
9. 2026-06-09
   days on market $699,000 Active 127 DOM
10. 2026-06-08
    days on market $699,000 Active 126 DOM
11. 2026-06-07
    days on market $699,000 Active 125 DOM
12. 2026-06-05
    pricedays on market $699,000 Active 122 DOM
13. 2026-06-03
    days on market $769,999 Active 121 DOM
14. 2026-06-02
    days on market $769,999 Active 120 DOM
15. 2026-06-01
    days on market $769,999 Active 119 DOM
16. 2026-05-31
    days on market $769,999 Active 118 DOM
17. 2026-05-30
    days on market $769,999 Active 117 DOM
18. 2026-03-04
    price $769,999 309-char remark

    Show marketing remark (309 chars)

    Don't miss this opportunity to own this 7 unit investment property. Recent updates to 3 of the vacant units will bring substantial rental value. Opportunity for rent raises on the remaining 4 units. Each unit has storage in the basement, separate meters and a 1 car garage. Showings subject to tenants rights.

19. 2026-03-04
    price $769,999 309-char remark

    Show marketing remark (309 chars)

    Don't miss this opportunity to own this 7 unit investment property. Recent updates to 3 of the vacant units will bring substantial rental value. Opportunity for rent raises on the remaining 4 units. Each unit has storage in the basement, separate meters and a 1 car garage. Showings subject to tenants rights.

20. 2026-02-03
    listed $799,999 Active 309-char remark

    Show marketing remark (309 chars)

    Don't miss this opportunity to own this 7 unit investment property. Recent updates to 3 of the vacant units will bring substantial rental value. Opportunity for rent raises on the remaining 4 units. Each unit has storage in the basement, separate meters and a 1 car garage. Showings subject to tenants rights.

21. 2026-02-02
    listed $799,999 Active 309-char remark

    Show marketing remark (309 chars)

    Don't miss this opportunity to own this 7 unit investment property. Recent updates to 3 of the vacant units will bring substantial rental value. Opportunity for rent raises on the remaining 4 units. Each unit has storage in the basement, separate meters and a 1 car garage. Showings subject to tenants rights.

22. 2024-12-02
    soldstatus $600,000 Sold
23. 2024-12-02
    soldstatus $600,000 Closed
24. 2024-11-10
    historical Contingent - Continue To Show
25. 2024-11-10
    historical Keep Showing-Contgcy Appl
26. 2024-10-02
    listed $699,900 Active
27. 2024-10-02
    listed $699,900 Active

ⓘ 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 ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $84,168
• − Mortgage interest: −$39,155
• − Property taxes: −$10,485
• − Insurance: −$3,495
• − Repairs & maintenance: −$6,733
• − Management: −$6,733
• − Depreciation: −$20,335
• Taxable loss: −$2,768
• Est. tax savings @ 24.0%: +$664
• After-tax cash flow: $9,190/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.

Condition & rehab AI · 1 photo

Fair 45/100 Moderate rehab

This 7-unit multi-family property requires significant exterior repairs and maintenance, including snow removal, ice dam prevention, and exterior siding and window sealing. These updates will improve safety, curb appeal, and energy efficiency, significantly increasing its resale and rental value.

Repairs flagged

• Major roof — Snow and potential ice dams
• Major exterior siding — Weathered brick
• Major exterior windows — Visible snow and potential ice dams

Value-add opportunities

• Both Snow removal and ice dam prevention — Improves safety and appearance
• Both Exterior siding repair — Enhances curb appeal and structural integrity
• Both Window sealing — Improves energy efficiency and reduces heating costs

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Snow and potential ice dams	Major	$15,000–50,000
exterior siding · Weathered brick	Major	$15,000–50,000
exterior windows · Visible snow and potential ice dams	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both Snow removal and ice dam prevention — Improves safety and appearance ↑
• Both Exterior siding repair — Enhances curb appeal and structural integrity ↑
• Both Window sealing — Improves energy efficiency and reduces heating costs ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Concord Community Schools
• NCES district ID: 2610650
• Math proficiency: 23% ▼ -6.00%
• Reading proficiency: 41% ▬ 0.00%
• Median HH income: $56,714
• Composite: 28.43/100
• National rank: #6758
• State rank: #319 of 540 in MI

Livability — Concord

• Score: 67/100
• State rank: #396
• US rank: #10770

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Concord, MI
• City population: 3,094
• Population (ZIP): 3,094

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 156,365 people
• By 2030: 153,123 · -2.1%
• By 2040: 144,981 · -7.3%
• By 2050: 135,671 · -13.2%
• By 2075: 113,833 · -27.2%
• By 2100: 86,592 · -44.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Romanian 5% Iranian 4% Lithuanian 3%
• Foreign-born: 1%
• Languages at home: 99% English-only · Other Indo-European 1%

Political lean MEDSL · Jackson

• 2024 margin: Strong R (+21.3) · D 38.6% · R 59.9% · Other 1.5%
• 2008→2024 swing: -23.7pp toward R · 2008: 2.4pp · 2024: -21.3pp
• All cycles: 2024: R+21.3 2020: R+19.0 2016: R+20.1 2012: R+5.8 2008: D+2.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.15%
• Current HPI: 195.8163
• 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

+10.0% since first listed

10 events — show timeline

• 2026-03-04 Price Changed $769,999 MiRealSource-MiMLS
• 2026-03-04 Price Changed $769,999 REALCOMP
• 2026-02-03 Listed $799,999 REALCOMP
• 2026-02-02 Listed $799,999 MiRealSource-MiMLS
• 2024-12-02 Sold (MLS) $600,000 MiRealSource-MiMLS
• 2024-12-02 Sold (MLS) $600,000 REALCOMP
• 2024-11-10 Contingent — REALCOMP
• 2024-11-10 Contingent — MiRealSource-MiMLS
• 2024-10-02 Listed $699,900 MiRealSource-MiMLS
• 2024-10-02 Listed $699,900 REALCOMP