109 N Thompson St · Jackson, MI 49202

$81,370

3 bd · 1.5 ba · 1,247 sqft · SingleFamily · 308 Days on market

Built 1920 3,920 sqft lot $65/sqft · 50% below area

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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 +25.1/30.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Opportunity to own this single-family home built in 1960 featuring 3 bedrooms and 2 bathrooms. Attractive home with good curb appeal. One car detached garage. * * * SPECIAL NOTES: (1) This is a CASH ONLY transaction. (2) Seller to pay Taxes, HOA, and Municipal/Utility Liens. (3) Please read the Auction disclaimers carefully before placing a bid or submitting an offer. * * * The seller does not have access to the property. The property is occupied and the occupants are not to be disturbed or contacted under any circumstances. Interior inspections are not available and property is being sold as is. Please do not trespass.

Key facts

• 3,920 sq ft lot
• Garage
• Built 1920

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $81k.

Deal economics

• At list price, monthly cash flow is $181 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $81k).
• Recommended offer: $72k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 5.4% in Jackson — 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 74/100 on livability (#197 in MI, #4,970 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, crime F, employment F.
• Jackson Public Schools (urban): math 15% / reading 28% proficiency, ranked #458 of 540 in MI (top 85%) — 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: 79 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $562 of loan paydown is wiped out by about $2k 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 308 days — a 12% lower offer ($72k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y 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 $55k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $71,605 (12.0% below list)

Questions for the listing agent

1. It's been on market 308 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F 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?
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: 1.24% ✓
• Cap rate: 8.96%
• Cash-on-cash: 9.53%
• DSCR: 1.42
• GRM: 6.7

CMA / ARV

• ARV (median comp): $162,799
• List price: $81,370
• Delta: -50.02%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
113 S Webster St	0.21mi	3/1.0	1,180 (-5%)	2mo	$125,000	$106	78
123 N Higby St	0.15mi	2/1.5 (-1)	1,168 (-6%)	1mo	$155,000	$133	77
221 N Higby St	0.24mi	3/1.5	1,348 (+8%)	1mo	$235,000	$174	74
311 Hibbard Ave	0.30mi	3/1.5	1,350 (+8%)	1mo	$162,000	$120	71
1109 W Franklin St	0.32mi	2/1.5 (-1)	1,176 (-6%)	1mo	$225,000	$191	70
342 N Grinnell St	0.38mi	3/1.0	1,356 (+9%)	0mo	$169,900	$125	66
330 N West Ave	0.37mi	4/1.5 (+1)	1,330 (+7%)	2mo	$125,500	$94	65
611 Oakhill Ave	0.67mi	3/1.0	1,238 (-1%)	1mo	$74,250	$60	65
1002 W Ganson St	0.50mi	3/1.0	1,344 (+8%)	1mo	$118,000	$88	61
1905 W Franklin St	0.51mi	2/2.0 (-1)	1,179 (-6%)	1mo	$212,500	$180	59
718 Center St	0.63mi	3/2.0	1,151 (-8%)	1mo	$135,000	$117	55
2126 W Franklin St	0.63mi	3/2.0	1,118 (-10%)	2mo	$192,500	$172	50

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: -1.9%
• Equity multiple: 0.93×
• Total profit: $-1,617
• Equity at exit: $12,133

10-year hold

• IRR: 7.9%
• Equity multiple: 1.60×
• Total profit: $13,619
• Equity at exit: $7,035

Cash invested: $22,784 (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 49202

• Active inventory: 79
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,007 medium
• Mortgage (P&I): −$427
• Tax from tax record: −$154 /mo · $1,850/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$212
• Net cashflow: $181

Break-even live

Break-even rent $778

Max offer price $81,370

Occupancy floor 77%

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: $20,342
• Closing costs: $2,441
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
720 W Michigan Ave Jackson, MI	2.0	1.0	972	$900	$0.93	44d	1	0.46mi
653 Oakhill Ave Jackson, MI	2.0	1.0	900	$950	$1.06	44d	1	0.57mi
159 W Pearl St Unit 202 Jackson, MI	2.0	1.0	1000	$1,350	$1.35	44d	1	1.08mi

Listing history 25 events

1. 2026-06-19
   days on market $81,370 Active 308 DOM
2. 2026-06-18
   days on market $81,370 Active 307 DOM
3. 2026-06-17
   days on market $81,370 Active 306 DOM
4. 2026-06-16
   days on market $81,370 Active 305 DOM
5. 2026-06-15
   days on market $81,370 Active 304 DOM
6. 2026-06-14
   days on market $81,370 Active 302 DOM
7. 2026-06-13
   days on market $81,370 Active 301 DOM
8. 2026-06-10
   days on market $81,370 Active 299 DOM
9. 2026-06-09
   days on market $81,370 Active 298 DOM
10. 2026-06-08
    days on market $81,370 Active 297 DOM
11. 2026-06-07
    days on market $81,370 Active 296 DOM
12. 2026-06-03
    days on market $81,370 Active 292 DOM
13. 2026-06-02
    days on market $81,370 Active 291 DOM
14. 2026-06-01
    days on market $81,370 Active 290 DOM
15. 2026-05-31
    days on market $81,370 Active 289 DOM
16. 2026-05-30
    days on market $81,370 Active 288 DOM
17. 2025-08-15
    listed $81,370 Active 638-char remark

    Show marketing remark (638 chars)

    Great Opportunity to own this single-family home built in 1960 featuring 3 bedrooms and 2 bathrooms. Attractive home with good curb appeal. One car detached garage. * * * SPECIAL NOTES: (1) This is a CASH ONLY transaction. (2) Seller to pay Taxes, HOA, and Municipal/Utility Liens. (3) Please read the Auction disclaimers carefully before placing a bid or submitting an offer. * * * The seller does not have access to the property. The property is occupied and the occupants are not to be disturbed or contacted under any circumstances. Interior inspections are not available and property is being sold as is. Please do not trespass.

18. 2025-08-15
    listed $81,370 Active 638-char remark

    Show marketing remark (638 chars)

    Great Opportunity to own this single-family home built in 1960 featuring 3 bedrooms and 2 bathrooms. Attractive home with good curb appeal. One car detached garage. * * * SPECIAL NOTES: (1) This is a CASH ONLY transaction. (2) Seller to pay Taxes, HOA, and Municipal/Utility Liens. (3) Please read the Auction disclaimers carefully before placing a bid or submitting an offer. * * * The seller does not have access to the property. The property is occupied and the occupants are not to be disturbed or contacted under any circumstances. Interior inspections are not available and property is being sold as is. Please do not trespass.

19. 2017-04-19
    soldstatus $55,000
20. 2017-04-12
    soldstatus $55,000
21. 2017-04-12
    soldstatus $55,000 Closed
22. 2017-03-23
    status Pending
23. 2017-02-27
    price $59,900
24. 2017-01-19
    listed $65,500 Active
25. 2017-01-18
    listed $59,900

ⓘ 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: $1,850 · $154/mo
• Projected year-2 tax: $1,850 · $154/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°F today · 15 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: $12,086
• − Mortgage interest: −$4,558
• − Property taxes: −$1,850
• − Insurance: −$407
• − Repairs & maintenance: −$967
• − Management: −$967
• − Depreciation: −$2,367
• Taxable income: $970
• Est. tax owed @ 24.0%: −$233
• After-tax cash flow: $1,938/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: Jackson Public Schools
• NCES district ID: 2619620
• Math proficiency: 15% ▼ -6.00%
• Reading proficiency: 28% ▼ -3.00%
• Median HH income: $38,344
• Composite: 17.99/100
• National rank: #8986
• State rank: #458 of 540 in MI

Livability — Jackson

• Score: 74/100
• State rank: #197
• US rank: #4970

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jackson, MI
• City population: 85,581
• Population (ZIP): 18,763

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 (75%)
• Race & ethnicity: White 75% Two or more races 11% Black 10% Hispanic / Latino 5% Asian 1%
• Common ancestry: Romanian 9% Iranian 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 3% Other Asian/Pacific 1% Arabic 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: ▼ -175.30%
• Current HPI: 170.3682
• 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

+35.8% since first listed

9 events — show timeline

• 2025-08-15 Listed $81,370 REALCOMP
• 2025-08-15 Listed $81,370 MiRealSource-MiMLS
• 2017-04-19 Sold (Public Records) $55,000 Public Records
• 2017-04-12 Sold (MLS) $55,000 MiRealSource-MiMLS
• 2017-04-12 Sold (MLS) $55,000 REALCOMP
• 2017-03-23 Pending — MiRealSource-MiMLS
• 2017-02-27 Price Changed $59,900 MiRealSource-MiMLS
• 2017-01-19 Listed $65,500 MiRealSource-MiMLS
• 2017-01-18 Listed $59,900 REALCOMP

Property tax history

+2.0%/yr

Latest (2025): $1,850 · +1.8% YoY. Source: county tax records.