907 Wayne St · Jackson, MI 49202

$48,900

2 bd · 1.0 ba · 784 sqft · SingleFamily · 49 Days on market

Built 1925 0.35 ac lot $62/sqft · 65% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Welcome to 907 Wayne St, Jackson, MI 49202, a solid home with great potential for buyers and investors alike. This property needs TLC and cosmetic updates, making it an excellent opportunity to build equity and create value. Featuring a functional layout with comfortable living spaces, well-sized bedrooms, and good natural light, this home provides a strong foundation for improvements. With the right updates, it can be transformed into a charming residence or a reliable income-producing rental. The yard offers space for outdoor enjoyment, and the convenient location provides easy access to schools, shopping, dining, and major roadways. Perfect for investors or homeowners willing to put in some work, 907 Wayne St is priced to reflect its potential. Property sold as-is. Cash, conventional, or renovation financing welcome.

Key facts

• Functional layout
• Convenient location
• Good natural light

Tags

• FUNCTIONAL LAYOUT
• COMFORTABLE LIVING SPACES
• GOOD NATURAL LIGHT
• SPACE FOR OUTDOOR ENJOYMENT
• CONVENIENT LOCATION
• EASY ACCESS TO SCHOOLS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $49k.

Deal economics

• At list price, monthly cash flow is $322 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($919 rent vs $49k).
• Recommended offer: $47k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.2% 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; 10 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 $338 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• 2 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.
• Current owner paid $28k; list at $49k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $47,433 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.88% ✓
• Cap rate: 14.19%
• Cash-on-cash: 28.22%
• DSCR: 2.26
• GRM: 4.4

CMA / ARV

• ARV (median comp): $138,683
• List price: $48,900
• Delta: -64.02%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
918 Wayne St	0.03mi	1/1.0 (-1)	816 (+4%)	13mo	$92,500	$113	76
906 Lowell Ave	0.21mi	2/1.0	807 (+3%)	12mo	$115,000	$143	75
1049 Lowell Avenue Ave	0.26mi	3/1.0 (+1)	772 (-2%)	16mo	$135,000	$175	67
1225 Longfellow Ave	0.45mi	2/1.0	740 (-6%)	5mo	$170,000	$230	65
801 Center St	0.54mi	2/1.0	746 (-5%)	4mo	$89,900	$121	63
1513 Daniel Rd	0.54mi	2/1.0	756 (-4%)	7mo	$100,000	$132	63
702 N Wisner St	0.38mi	2/1.0	864 (+10%)	17mo	$115,000	$133	51
833 Lincoln St	0.63mi	1/1.0 (-1)	788 (+0%)	19mo	$59,000	$75	49
910 Bush St	0.66mi	2/1.0	704 (-10%)	10mo	$115,000	$163	44
817 Hibbard Ave	0.46mi	2/1.0	885 (+13%)	18mo	$150,000	$169	42
200 N Thompson St	0.71mi	2/1.0	888 (+13%)	7mo	$135,000	$152	39

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: 22.5%
• Equity multiple: 1.92×
• Total profit: $12,638
• Equity at exit: $7,291

10-year hold

• IRR: 30.5%
• Equity multiple: 3.75×
• Total profit: $37,633
• Equity at exit: $4,228

Cash invested: $13,692 (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: 4.4×

Monthly cashflow live

• Estimated rent: $919 high
• Mortgage (P&I): −$256
• Tax from tax record: −$127 /mo · $1,524/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$193
• Net cashflow: $322

Break-even live

Break-even rent $511

Max offer price $48,900

Occupancy floor 60%

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: $12,225
• Closing costs: $1,467
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
653 Oakhill Ave Jackson, MI	2.0	1.0	900	$950	$1.06	44d	1	0.75mi
521 W North St Jackson, MI	2.0	1.0	684	$1,000	$1.46	44d	1	0.81mi
720 W Michigan Ave Jackson, MI	2.0	1.0	972	$900	$0.93	44d	1	1.04mi
3005 N Pointe Dr Jackson, MI	1.0	1.0	740	$925	$1.25	44d	1	1.32mi
3011 N Pointe Dr Jackson, MI	2.0	1.0	859	$1,025	$1.19	44d	1	1.32mi
3004 N Pointe Dr Jackson, MI	2.0	2.0	945	$1,025	$1.08	44d	1	1.32mi
241 Oak Grove Ave Jackson, MI	1.0	1.0	792	$1,009	$1.27	44d	1	1.34mi
305 1st St Jackson, MI	1.0	1.0	600	$720	$1.20	44d	1	1.38mi
509 3rd St Unit 3 Jackson, MI	1.0	1.0	800	$750	$0.94	44d	1	1.39mi
100 Armory Ct Jackson, MI	1.0	1.0	800	$788	$0.98	44d	1	1.40mi

Listing history 14 events

1. 2026-06-19
   days on market $48,900 Active 49 DOM
2. 2026-06-18
   days on market $48,900 Active 48 DOM
3. 2026-06-17
   pricestatusdays on market $48,900 Active 47 DOM
4. 2026-06-07
   statusdays on market $49,900 Pending 46 DOM
5. 2026-06-03
   days on market $49,900 Active Under Contract 43 DOM
6. 2026-06-02
   days on market $49,900 Active Under Contract 42 DOM
7. 2026-06-01
   days on market $49,900 Active Under Contract 41 DOM
8. 2026-05-31
   days on market $49,900 Active Under Contract 40 DOM
9. 2026-05-30
   days on market $49,900 Active Under Contract 39 DOM
10. 2026-05-06
    historical Accepting Backup Offers 831-char remark

    Show marketing remark (831 chars)

    Welcome to 907 Wayne St, Jackson, MI 49202, a solid home with great potential for buyers and investors alike. This property needs TLC and cosmetic updates, making it an excellent opportunity to build equity and create value. Featuring a functional layout with comfortable living spaces, well-sized bedrooms, and good natural light, this home provides a strong foundation for improvements. With the right updates, it can be transformed into a charming residence or a reliable income-producing rental. The yard offers space for outdoor enjoyment, and the convenient location provides easy access to schools, shopping, dining, and major roadways. Perfect for investors or homeowners willing to put in some work, 907 Wayne St is priced to reflect its potential. Property sold as-is. Cash, conventional, or renovation financing welcome.

11. 2026-05-06
    historical Active Under Contract 831-char remark

    Show marketing remark (831 chars)

    Welcome to 907 Wayne St, Jackson, MI 49202, a solid home with great potential for buyers and investors alike. This property needs TLC and cosmetic updates, making it an excellent opportunity to build equity and create value. Featuring a functional layout with comfortable living spaces, well-sized bedrooms, and good natural light, this home provides a strong foundation for improvements. With the right updates, it can be transformed into a charming residence or a reliable income-producing rental. The yard offers space for outdoor enjoyment, and the convenient location provides easy access to schools, shopping, dining, and major roadways. Perfect for investors or homeowners willing to put in some work, 907 Wayne St is priced to reflect its potential. Property sold as-is. Cash, conventional, or renovation financing welcome.

12. 2026-04-21
    listed $49,900 Active 831-char remark

    Show marketing remark (831 chars)

    Welcome to 907 Wayne St, Jackson, MI 49202, a solid home with great potential for buyers and investors alike. This property needs TLC and cosmetic updates, making it an excellent opportunity to build equity and create value. Featuring a functional layout with comfortable living spaces, well-sized bedrooms, and good natural light, this home provides a strong foundation for improvements. With the right updates, it can be transformed into a charming residence or a reliable income-producing rental. The yard offers space for outdoor enjoyment, and the convenient location provides easy access to schools, shopping, dining, and major roadways. Perfect for investors or homeowners willing to put in some work, 907 Wayne St is priced to reflect its potential. Property sold as-is. Cash, conventional, or renovation financing welcome.

13. 2026-04-21
    listed $49,900 Active 831-char remark

    Show marketing remark (831 chars)

    Welcome to 907 Wayne St, Jackson, MI 49202, a solid home with great potential for buyers and investors alike. This property needs TLC and cosmetic updates, making it an excellent opportunity to build equity and create value. Featuring a functional layout with comfortable living spaces, well-sized bedrooms, and good natural light, this home provides a strong foundation for improvements. With the right updates, it can be transformed into a charming residence or a reliable income-producing rental. The yard offers space for outdoor enjoyment, and the convenient location provides easy access to schools, shopping, dining, and major roadways. Perfect for investors or homeowners willing to put in some work, 907 Wayne St is priced to reflect its potential. Property sold as-is. Cash, conventional, or renovation financing welcome.

14. 2021-05-24
    soldstatus $28,000

ⓘ 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: $1,524 · $127/mo
• Projected year-2 tax: $1,524 · $127/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°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: $11,025
• − Mortgage interest: −$2,739
• − Property taxes: −$1,524
• − Insurance: −$244
• − Repairs & maintenance: −$882
• − Management: −$882
• − Depreciation: −$1,423
• Taxable income: $3,331
• Est. tax owed @ 24.0%: −$799
• After-tax cash flow: $3,065/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

• 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

+78.2% since first listed

5 events — show timeline

• 2026-05-06 Contingent — MiRealSource-MiMLS
• 2026-05-06 Contingent — REALCOMP
• 2026-04-21 Listed $49,900 REALCOMP
• 2026-04-21 Listed $49,900 MiRealSource-MiMLS
• 2021-05-24 Sold (Public Records) $28,000 Public Records

Property tax history

+6.0%/yr

Latest (2025): $1,524 · +27.1% YoY. Source: county tax records.