131 Washington St · Sunfield, MI 48890

$115,000

5 bd · 2.0 ba · 1,720 sqft · SingleFamily · 29 Days on market

Built 1900 8,276 sqft lot

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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 +29.5/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Schools +3.6/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home is a prime fixer-upper opportunity with solid bones, a spacious lot, and tons of potential. Featuring a classic two-story design with charming gables, a covered front porch, and a large side yard, the property offers the perfect canvas for renovation. Much of the exterior is already prepped with house wrap, making it ideal for someone ready to complete the siding and bring fresh curb appeal to the neighborhood. With mature trees, ample outdoor space, and a layout full of character, this property is perfect for investors, DIY renovators, or buyers looking to build equity by finishing a home to their own style. Awesome potential!

Key facts

• Covered front porch
• Ample outdoor space
• Two-story design

Tags

• SPACIOUS LOT
• TWO-STORY DESIGN
• COVERED FRONT PORCH
• LARGE SIDE YARD
• MATURE TREES
• AMPLE OUTDOOR SPACE

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $413 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $113k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#577 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, schools F, crime D-.
• Lakewood Public Schools (rural): math 34% / reading 49% proficiency, ranked #185 of 540 in MI (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 3 active listings in the ZIP; 98 units permitted in Eaton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Eaton County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 15y ago; this cycle's ask has dropped $15k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $18k; list at $115k implies a 539% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $113,275 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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 F-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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.22% ✓
• Cap rate: 10.60%
• Cash-on-cash: 15.39%
• DSCR: 1.68
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $240,800
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
131 Washington St	0.00mi	5/2.0	1,720 (0%)	2mo	$80,000	$47	98
152 Washington St	0.03mi	4/1.0 (-1)	1,512 (-12%)	5mo	$215,000	$142	65
355 Washington St	0.29mi	4/1.5 (-1)	1,610 (-6%)	13mo	$225,000	$140	58

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: 6.1%
• Equity multiple: 1.24×
• Total profit: $7,635
• Equity at exit: $17,147

10-year hold

• IRR: 15.5%
• Equity multiple: 2.25×
• Total profit: $40,367
• Equity at exit: $9,943

Cash invested: $32,200 (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 48890

• Home prices YoY: -11.4%
• Active inventory: 3
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,405 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$46 /mo · $555/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $413

Break-even live

Break-even rent $883

Max offer price $115,000

Occupancy floor 66%

Sensitivity live

Price	-10% $478	-5% $446	+0% $413	+5% $381	+10% $348
Rent	-10% $302	-5% $358	+0% $413	+5% $469	+10% $524
Rate	-1.0pp $471	-0.5pp $442	base $413	+0.5pp $383	+1.0pp $353

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-03-27
   status Pending 645-char remark

   Show marketing remark (645 chars)

   This home is a prime fixer-upper opportunity with solid bones, a spacious lot, and tons of potential. Featuring a classic two-story design with charming gables, a covered front porch, and a large side yard, the property offers the perfect canvas for renovation. Much of the exterior is already prepped with house wrap, making it ideal for someone ready to complete the siding and bring fresh curb appeal to the neighborhood. With mature trees, ample outdoor space, and a layout full of character, this property is perfect for investors, DIY renovators, or buyers looking to build equity by finishing a home to their own style. Awesome potential!

2. 2026-03-27
   status Pending 645-char remark

   Show marketing remark (645 chars)

   This home is a prime fixer-upper opportunity with solid bones, a spacious lot, and tons of potential. Featuring a classic two-story design with charming gables, a covered front porch, and a large side yard, the property offers the perfect canvas for renovation. Much of the exterior is already prepped with house wrap, making it ideal for someone ready to complete the siding and bring fresh curb appeal to the neighborhood. With mature trees, ample outdoor space, and a layout full of character, this property is perfect for investors, DIY renovators, or buyers looking to build equity by finishing a home to their own style. Awesome potential!

3. 2026-03-27
   status Pending

   Show marketing remark (645 chars)

   This home is a prime fixer-upper opportunity with solid bones, a spacious lot, and tons of potential. Featuring a classic two-story design with charming gables, a covered front porch, and a large side yard, the property offers the perfect canvas for renovation. Much of the exterior is already prepped with house wrap, making it ideal for someone ready to complete the siding and bring fresh curb appeal to the neighborhood. With mature trees, ample outdoor space, and a layout full of character, this property is perfect for investors, DIY renovators, or buyers looking to build equity by finishing a home to their own style. Awesome potential!

4. 2026-03-05
   price $115,000 645-char remark

   Show marketing remark (645 chars)

   This home is a prime fixer-upper opportunity with solid bones, a spacious lot, and tons of potential. Featuring a classic two-story design with charming gables, a covered front porch, and a large side yard, the property offers the perfect canvas for renovation. Much of the exterior is already prepped with house wrap, making it ideal for someone ready to complete the siding and bring fresh curb appeal to the neighborhood. With mature trees, ample outdoor space, and a layout full of character, this property is perfect for investors, DIY renovators, or buyers looking to build equity by finishing a home to their own style. Awesome potential!

5. 2026-03-04
   price $115,000 645-char remark

   Show marketing remark (645 chars)

   This home is a prime fixer-upper opportunity with solid bones, a spacious lot, and tons of potential. Featuring a classic two-story design with charming gables, a covered front porch, and a large side yard, the property offers the perfect canvas for renovation. Much of the exterior is already prepped with house wrap, making it ideal for someone ready to complete the siding and bring fresh curb appeal to the neighborhood. With mature trees, ample outdoor space, and a layout full of character, this property is perfect for investors, DIY renovators, or buyers looking to build equity by finishing a home to their own style. Awesome potential!

6. 2026-03-04
   price $115,000

   Show marketing remark (645 chars)

   This home is a prime fixer-upper opportunity with solid bones, a spacious lot, and tons of potential. Featuring a classic two-story design with charming gables, a covered front porch, and a large side yard, the property offers the perfect canvas for renovation. Much of the exterior is already prepped with house wrap, making it ideal for someone ready to complete the siding and bring fresh curb appeal to the neighborhood. With mature trees, ample outdoor space, and a layout full of character, this property is perfect for investors, DIY renovators, or buyers looking to build equity by finishing a home to their own style. Awesome potential!

7. 2026-02-24
   listed $130,000 Active 645-char remark

   Show marketing remark (645 chars)

   This home is a prime fixer-upper opportunity with solid bones, a spacious lot, and tons of potential. Featuring a classic two-story design with charming gables, a covered front porch, and a large side yard, the property offers the perfect canvas for renovation. Much of the exterior is already prepped with house wrap, making it ideal for someone ready to complete the siding and bring fresh curb appeal to the neighborhood. With mature trees, ample outdoor space, and a layout full of character, this property is perfect for investors, DIY renovators, or buyers looking to build equity by finishing a home to their own style. Awesome potential!

8. 2026-02-24
   listed $130,000 Active 645-char remark

   Show marketing remark (645 chars)

   This home is a prime fixer-upper opportunity with solid bones, a spacious lot, and tons of potential. Featuring a classic two-story design with charming gables, a covered front porch, and a large side yard, the property offers the perfect canvas for renovation. Much of the exterior is already prepped with house wrap, making it ideal for someone ready to complete the siding and bring fresh curb appeal to the neighborhood. With mature trees, ample outdoor space, and a layout full of character, this property is perfect for investors, DIY renovators, or buyers looking to build equity by finishing a home to their own style. Awesome potential!

9. 2026-02-24
   listed $130,000 Active

   Show marketing remark (645 chars)

   This home is a prime fixer-upper opportunity with solid bones, a spacious lot, and tons of potential. Featuring a classic two-story design with charming gables, a covered front porch, and a large side yard, the property offers the perfect canvas for renovation. Much of the exterior is already prepped with house wrap, making it ideal for someone ready to complete the siding and bring fresh curb appeal to the neighborhood. With mature trees, ample outdoor space, and a layout full of character, this property is perfect for investors, DIY renovators, or buyers looking to build equity by finishing a home to their own style. Awesome potential!

10. 2026-01-23
    historical
11. 2026-01-22
    historical
12. 2025-12-01
    listed $130,000 Active
13. 2025-12-01
    listed $130,000 Active
14. 2011-12-13
    soldstatus $18,000
15. 2011-10-17
    listed $20,000
16. 2004-05-10
    soldstatus $89,900

ⓘ 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: $555 · $46/mo
• Projected year-2 tax: $1,163 · $97/mo
• Expected delta: +$608/yr (+$51/mo · 109.4%)

ⓘ 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 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: $16,866
• − Mortgage interest: −$6,442
• − Property taxes: −$555
• − Insurance: −$575
• − Repairs & maintenance: −$1,349
• − Management: −$1,349
• − Depreciation: −$3,345
• Taxable income: $3,250
• Est. tax owed @ 24.0%: −$780
• After-tax cash flow: $4,177/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: Lakewood Public Schools
• NCES district ID: 2620980
• Math proficiency: 34% ▼ -10.00%
• Reading proficiency: 49% ▼ -8.00%
• Median HH income: $52,930
• Composite: 35.96/100
• National rank: #4796
• State rank: #185 of 540 in MI

Livability — Sunfield

• Score: 61/100
• State rank: #577
• US rank: #18398

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sunfield, MI
• Population (ZIP): 1,967

Population outlook (Eaton County) Hauer SSP2

• Today (2025): 110,811 people
• By 2030: 110,598 · -0.2%
• By 2040: 108,304 · -2.3%
• By 2050: 104,961 · -5.3%
• By 2075: 97,197 · -12.3%
• By 2100: 85,150 · -23.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Lithuanian 4% Iranian 3% Slovak 3%
• Foreign-born: 0%
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Eaton

• 2024 margin: Toss-up / Even · D 47.6% · R 50.8% · Other 1.6%
• 2008→2024 swing: -11.6pp toward R · 2008: 8.4pp · 2024: -3.1pp
• All cycles: 2024: R+3.1 2020: R+0.8 2016: R+5.5 2012: D+3.1 2008: D+8.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -29.84%
• Current HPI: 230.7067
• 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

+27.9% since first listed

16 events — show timeline

• 2026-03-27 Pending — MiRealSource-MiMLS
• 2026-03-27 Pending — REALCOMP
• 2026-03-27 Pending — SW Michigan MLS
• 2026-03-05 Price Changed $115,000 MiRealSource-MiMLS
• 2026-03-04 Price Changed $115,000 REALCOMP
• 2026-03-04 Price Changed $115,000 SW Michigan MLS
• 2026-02-24 Listed $130,000 SW Michigan MLS
• 2026-02-24 Listed $130,000 REALCOMP
• 2026-02-24 Listed $130,000 MiRealSource-MiMLS
• 2026-01-23 Listing Removed — MiRealSource-MiMLS
• 2026-01-22 Listing Removed — REALCOMP
• 2025-12-01 Listed $130,000 REALCOMP
• 2025-12-01 Listed $130,000 MiRealSource-MiMLS
• 2011-12-13 Sold (MLS) $18,000 Greater Lansing AoR
• 2011-10-17 Listed $20,000 Greater Lansing AoR
• 2004-05-10 Sold (Public Records) $89,900 Public Records

Property tax history

-17.8%/yr

Latest (2021): $555 · -40.6% YoY. Source: county tax records.