7518 S Crystal Rd · Carson City, MI 48811

$59,900

4 bd · 2.0 ba · 2,288 sqft · SingleFamily · 268 Days on market

Built 1900 7,841 sqft lot

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.4/10.0

Listing remarks MLS

Property is on 5 lots with five property numbers. Two possibly three apartments live in one and rent out another or two. Building and detached garage needs work. One apartment upstairs and one on ground level. 2 wells and 2 septic's one is newer but not hooked up. Pellet stove on main floor apartment stays with property. 1.48 acres. 10 rooms 4 bedrooms 2 baths.

Key facts

• 2 wells
• Pellet stove
• 5 lots

Tags

• 5 LOTS
• 2 WELLS
• 2 SEPTICS
• PELLET STOVE

Property features AI

Exterior

• Parking: Detached garage; 3-car garage (detached)
• Utilities: Well water; Natural gas for water heater
• Home design: Single family residence; Residential property; Other architectural style
• Construction: Wood siding; Other construction materials; Metal roof; Built in 1900
• Exterior features: Paved road access; Lot approximately 0.18 acres

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Primary bedroom (10 x 11); Second bedroom (9 x 10); Additional primary bedroom listed (10 x 11); Additional second bedroom listed (10 x 10)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating
• Interior features: Eat-in kitchen; Fireplace (other type); Total of 11 rooms; Partial Michigan-style basement
• Laundry & utility: Natural gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $607 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#386 in MI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A-; Watch: amenities F, commute F, employment D-.
• Carson City-Crystal Area Schools (rural): math 17% / reading 27% proficiency, ranked #449 of 540 in MI (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 4 active listings in the ZIP; 273 units permitted in Montcalm County in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Montcalm County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 268 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Risks & watch-outs

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

Recommended offer $52,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 268 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 1900 — 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. 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: 2.16% ✓
• Cap rate: 18.45%
• Cash-on-cash: 43.42%
• DSCR: 2.93
• GRM: 3.9

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: 40.3%
• Equity multiple: 2.73×
• Total profit: $28,968
• Equity at exit: $8,931

10-year hold

• IRR: 46.6%
• Equity multiple: 5.48×
• Total profit: $75,078
• Equity at exit: $5,179

Cash invested: $16,772 (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 48811

• Home prices YoY: -3.7%
• Active inventory: 4
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,292 medium
• Mortgage (P&I): −$314
• Tax est. 1.5%: −$75 /mo · $898/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $607

Break-even live

Break-even rent $524

Max offer price $59,900

Occupancy floor 48%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-14
   status $59,900 Pending 268 DOM
2. 2026-06-13
   days on market $59,900 Active 268 DOM
3. 2026-06-12
   days on market $59,900 Active 267 DOM
4. 2026-06-09
   days on market $59,900 Active 264 DOM
5. 2026-06-08
   days on market $59,900 Active 263 DOM
6. 2026-06-07
   days on market $59,900 Active 262 DOM
7. 2026-06-07
   days on market $59,900 Active 261 DOM
8. 2026-06-04
   days on market $59,900 Active 258 DOM
9. 2026-06-02
   days on market $59,900 Active 257 DOM
10. 2026-06-01
    days on market $59,900 Active 256 DOM
11. 2026-05-31
    days on market $59,900 Active 255 DOM
12. 2026-05-31
    days on market $59,900 Active 254 DOM
13. 2025-09-18
    listed $59,900 Active

    Show marketing remark (363 chars)

    Property is on 5 lots with five property numbers. Two possibly three apartments live in one and rent out another or two. Building and detached garage needs work. One apartment upstairs and one on ground level. 2 wells and 2 septic's one is newer but not hooked up. Pellet stove on main floor apartment stays with property. 1.48 acres. 10 rooms 4 bedrooms 2 baths.

14. 2025-09-18
    listed $59,900 Active 363-char remark

    Show marketing remark (363 chars)

    Property is on 5 lots with five property numbers. Two possibly three apartments live in one and rent out another or two. Building and detached garage needs work. One apartment upstairs and one on ground level. 2 wells and 2 septic's one is newer but not hooked up. Pellet stove on main floor apartment stays with property. 1.48 acres. 10 rooms 4 bedrooms 2 baths.

15. 2025-09-18
    listed $59,900 Active 363-char remark

    Show marketing remark (363 chars)

    Property is on 5 lots with five property numbers. Two possibly three apartments live in one and rent out another or two. Building and detached garage needs work. One apartment upstairs and one on ground level. 2 wells and 2 septic's one is newer but not hooked up. Pellet stove on main floor apartment stays with property. 1.48 acres. 10 rooms 4 bedrooms 2 baths.

ⓘ 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 4/10 Moderate 13% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,507
• − Mortgage interest: −$3,355
• − Property taxes: −$898
• − Insurance: −$300
• − Repairs & maintenance: −$1,241
• − Management: −$1,241
• − Depreciation: −$1,743
• Taxable income: $6,730
• Est. tax owed @ 24.0%: −$1,615
• After-tax cash flow: $5,668/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: Carson City-Crystal Area Schools
• NCES district ID: 2608130
• Math proficiency: 17% ▼ -15.00%
• Reading proficiency: 27% ▼ -9.00%
• Median HH income: $42,566
• Composite: 18.83/100
• National rank: #8865
• State rank: #449 of 540 in MI

Livability — Carson City

• Score: 67/100
• State rank: #386
• US rank: #10278

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 7,416
• Population (ZIP): 7,416

Population outlook (Montcalm County) Hauer SSP2

• Today (2025): 61,011 people
• By 2030: 59,467 · -2.5%
• By 2040: 55,427 · -9.2%
• By 2050: 50,517 · -17.2%
• By 2075: 38,731 · -36.5%
• By 2100: 26,770 · -56.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Black 12% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Iranian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Montcalm

• 2024 margin: Solid R (+39.0) · D 29.8% · R 68.7% · Other 1.5%
• 2008→2024 swing: -38.7pp toward R · 2008: -0.3pp · 2024: -39.0pp
• All cycles: 2024: R+39.0 2020: R+37.7 2016: R+34.0 2012: R+8.6 2008: R+0.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -9.16%
• Current HPI: 238.3871
• 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

+0.0% since first listed

3 events — show timeline

• 2025-09-18 Listed $59,900 MiRealSource-MiMLS
• 2025-09-18 Listed $59,900 REALCOMP
• 2025-09-18 Listed $59,900 SW Michigan MLS