143 S Hobart St · Athens, MI 49011

$77,600

3 bd · 1.5 ba · 1,280 sqft · SingleFamily public records · 6 Days on market

Built 1900 0.25 ac 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
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fixer Upper, 3 Beds, 1 1/2 Bath in quiet part of town. Gas forced air furnace, 100 amp elec, main floor bedroom. Seller will consider Land Contract terms. Minimum 20% Down 15 year term $648.25 per month plus taxes and insurance. Broker owned

Key facts

• 0.25 acre lot
• Built 1900
• Listed 6 days

Property features AI

Exterior

• Utilities: Public water; Natural gas water heater
• Home design: Traditional style; Single-family residence; Residential property
• Construction: Built in 1900; Vinyl siding; Shingle roof; Partial basement (foundation)
• Exterior features: Paved road access; Quarter-acre lot

Interior

• Kitchen: Oven; Range
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Has heating
• Interior features: Replacement windows; 8 total rooms; Partial basement

🏷️ Possibly a rental listed for sale. The $77,600 price doesn't fit this home's estimated sale value (~$175,360) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $78k.

Deal economics

• At list price, monthly cash flow is $773 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $78k).

Location & tenants

• Location reads 68/100 on livability (#367 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools C-, amenities F, commute F.
• Athens Area Schools (rural): math 23% / reading 46% proficiency, ranked #273 of 540 in MI (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 17 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 132 units permitted in Calhoun County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $537 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Calhoun County population projected at -16% 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 $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 $77,600

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. 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.
4. 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.
5. 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: 2.01% ✓
• Cap rate: 18.25%
• Cash-on-cash: 42.71%
• DSCR: 2.90
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $175,360
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
143 S Hobart St	0.00mi	3/1.5	1,280 (0%)	0mo	$65,000	$51	100
524 S Capital Ave	0.31mi	3/1.0	1,264 (-1%)	9mo	$185,000	$146	74
203 E Mill St	0.48mi	3/2.0	1,280 (0%)	8mo	$202,000	$158	69
330 W Mill St	0.30mi	3/2.0	1,290 (+1%)	22mo	$205,897	$160	64
507 S A Ave	0.41mi	3/1.0	1,272 (-1%)	19mo	$70,000	$55	62
103 W Mill St	0.37mi	2/1.0 (-1)	1,200 (-6%)	6mo	$164,900	$137	60
633 Oak	0.30mi	3/1.0	1,100 (-14%)	0mo	$160,000	$145	60
133 E Mill St	0.46mi	3/1.5	1,425 (+11%)	13mo	$120,000	$84	49
315 S Ave A	0.38mi	4/2.0 (+1)	1,450 (+13%)	9mo	$199,900	$138	46
371 E Marshall St	0.52mi	2/1.0 (-1)	1,440 (+12%)	3mo	$130,000	$90	45
218 Hawthorne St	0.38mi	3/1.5	1,452 (+13%)	21mo	$170,000	$117	42
115 S Ave B	0.47mi	2/1.0 (-1)	1,441 (+13%)	23mo	$190,000	$132	31

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: 39.4%
• Equity multiple: 2.69×
• Total profit: $36,654
• Equity at exit: $11,570

10-year hold

• IRR: 45.8%
• Equity multiple: 5.38×
• Total profit: $95,240
• Equity at exit: $6,709

Cash invested: $21,728 (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 49011

• Home prices YoY: -5.3%
• Active inventory: 17
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,560 medium
• Mortgage (P&I): −$407
• Tax from tax record: −$20 /mo · $238/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $773

Break-even live

Break-even rent $581

Max offer price $77,600

Occupancy floor 45%

Sensitivity live

Price	-10% $817	-5% $795	+0% $773	+5% $751	+10% $729
Rent	-10% $650	-5% $712	+0% $773	+5% $835	+10% $897
Rate	-1.0pp $812	-0.5pp $793	base $773	+0.5pp $753	+1.0pp $733

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: $19,400
• Closing costs: $2,328
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
218 E Holcomb St Athens, MI	3.0	1.0	1800	$1,560	$0.87	14d	1	0.40mi

Listing history 8 events

1. 2026-06-03
   status $77,600 Pending 6 DOM
2. 2026-06-02
   days on market $77,600 Active 6 DOM
3. 2026-06-01
   days on market $77,600 Active 5 DOM
4. 2026-05-31
   days on market $77,600 Active 4 DOM
5. 2026-05-30
   days on market $77,600 Active 3 DOM
6. 2026-05-28
   listed $77,600 Active 241-char remark

   Show marketing remark (241 chars)

   Fixer Upper, 3 Beds, 1 1/2 Bath in quiet part of town. Gas forced air furnace, 100 amp elec, main floor bedroom. Seller will consider Land Contract terms. Minimum 20% Down 15 year term $648.25 per month plus taxes and insurance. Broker owned

7. 2026-05-27
   listed $77,600 Active

   Show marketing remark (241 chars)

   Fixer Upper, 3 Beds, 1 1/2 Bath in quiet part of town. Gas forced air furnace, 100 amp elec, main floor bedroom. Seller will consider Land Contract terms. Minimum 20% Down 15 year term $648.25 per month plus taxes and insurance. Broker owned

8. 2026-05-27
   listed $77,600 Active 241-char remark

   Show marketing remark (241 chars)

   Fixer Upper, 3 Beds, 1 1/2 Bath in quiet part of town. Gas forced air furnace, 100 amp elec, main floor bedroom. Seller will consider Land Contract terms. Minimum 20% Down 15 year term $648.25 per month plus taxes and insurance. Broker owned

ⓘ 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: $238 · $20/mo
• Projected year-2 tax: $716 · $60/mo
• Expected delta: +$479/yr (+$40/mo · 201.2%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,720
• − Mortgage interest: −$4,347
• − Property taxes: −$238
• − Insurance: −$388
• − Repairs & maintenance: −$1,498
• − Management: −$1,498
• − Depreciation: −$2,257
• Taxable income: $8,495
• Est. tax owed @ 24.0%: −$2,039
• After-tax cash flow: $7,241/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: Athens Area Schools
• NCES district ID: 2603510
• Math proficiency: 23% ▼ -10.00%
• Reading proficiency: 46% ▲ 3.00%
• Median HH income: $56,935
• Composite: 30.51/100
• National rank: #6211
• State rank: #273 of 540 in MI

Livability — Athens

• Score: 68/100
• State rank: #367
• US rank: #9589

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Athens, MI
• Population (ZIP): 2,237

Population outlook (Calhoun County) Hauer SSP2

• Today (2025): 130,157 people
• By 2030: 126,691 · -2.7%
• By 2040: 118,517 · -8.9%
• By 2050: 109,855 · -15.6%
• By 2075: 90,486 · -30.5%
• By 2100: 70,766 · -45.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 6% Hispanic / Latino 2% Native American 1%
• Common ancestry: Italian 3% Romanian 3% Slovak 2%
• Foreign-born: 1% · Canada, China
• Languages at home: 97% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Calhoun

• 2024 margin: R (+14.1) · D 42.3% · R 56.4% · Other 1.3%
• 2008→2024 swing: -23.4pp toward R · 2008: 9.4pp · 2024: -14.1pp
• All cycles: 2024: R+14.1 2020: R+11.1 2016: R+12.5 2012: D+1.6 2008: D+9.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -10.49%
• Current HPI: 187.9543
• 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

• 2026-05-28 Listed $77,600 REALCOMP
• 2026-05-27 Listed $77,600 MiRealSource-MiMLS
• 2026-05-27 Listed $77,600 SW Michigan MLS

Property tax history

+2.3%/yr

Latest (2022): $238 · -67.8% YoY. Source: county tax records.