None · Hanover, MI 49257

$85,500

3 bd · 2.0 ba · 1,656 sqft · SingleFamily · 1 Days on market

Built 1987 0.39 ac lot Est $116k · 26% under ↓ 5% since listing

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• Appreciation +5.0/10.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

HALF ACRE LOT!! REMODELED! FRESH & NEW with COUNTRY CHARM! Three season front porch, New carpet & laminate, remodeled kitchen & baths. Roof replaced in 05, hot water tank replaced in 05. Updated plumbing and electric, first floor laundry, many newer windows. Large yard that backs up to S branch of Kalamazoo River!

Key facts

• 0.39 acre lot
• 2 garage spots
• Built 1987

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $86k.

Deal economics

• At list price, monthly cash flow is $358 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $86k).

Location & tenants

• Location reads 64/100 on livability (#497 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, employment D+, crime D-.
• Jonesville Community Schools (rural): math 29% / reading 40% proficiency, ranked #297 of 540 in MI (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 1 active listings in the ZIP; 72 units permitted in Hillsdale County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($591 loan paydown + $3k appreciation (3.0% local appreciation)).
• Hillsdale County population projected at -22% 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 $24k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 19y 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.

Recommended offer $85,500

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
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: 1.41% ✓
• Cap rate: 11.32%
• Cash-on-cash: 17.96%
• DSCR: 1.80
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $115,920
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7541 E Chicago Rd	0.25mi	3/1.0	1,618 (-2%)	5mo	$113,000	$70	77

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: 24.4%
• Equity multiple: 2.38×
• Total profit: $33,134
• Equity at exit: $38,445

10-year hold

• IRR: 25.2%
• Equity multiple: 4.59×
• Total profit: $86,016
• Equity at exit: $59,248

Cash invested: $23,940 (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 49257

• Active inventory: 1
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,201 medium
• Mortgage (P&I): −$448
• Tax est. 1.5%: −$107 /mo · $1,282/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $358

Break-even live

Break-even rent $748

Max offer price $85,500

Occupancy floor 65%

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: $21,375
• Closing costs: $2,565
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2008-05-16
   historical 334-char remark

   Show marketing remark (334 chars)

   HALF ACRE LOT!! REMODELED! FRESH & NEW with COUNTRY CHARM! Three season front porch, New carpet & laminate, remodeled kitchen & baths. Roof replaced in 05, hot water tank replaced in 05. Updated plumbing and electric, first floor laundry, many newer windows. Large yard that backs up to S branch of Kalamazoo River!

2. 2008-05-15
   soldstatus $81,000

   Show marketing remark (334 chars)

   HALF ACRE LOT!! REMODELED! FRESH & NEW with COUNTRY CHARM! Three season front porch, New carpet & laminate, remodeled kitchen & baths. Roof replaced in 05, hot water tank replaced in 05. Updated plumbing and electric, first floor laundry, many newer windows. Large yard that backs up to S branch of Kalamazoo River!

3. 2008-05-15
   soldstatus $81,000 334-char remark

   Show marketing remark (334 chars)

   HALF ACRE LOT!! REMODELED! FRESH & NEW with COUNTRY CHARM! Three season front porch, New carpet & laminate, remodeled kitchen & baths. Roof replaced in 05, hot water tank replaced in 05. Updated plumbing and electric, first floor laundry, many newer windows. Large yard that backs up to S branch of Kalamazoo River!

4. 2008-05-15
   soldstatus $81,000

   Show marketing remark (334 chars)

   HALF ACRE LOT!! REMODELED! FRESH & NEW with COUNTRY CHARM! Three season front porch, New carpet & laminate, remodeled kitchen & baths. Roof replaced in 05, hot water tank replaced in 05. Updated plumbing and electric, first floor laundry, many newer windows. Large yard that backs up to S branch of Kalamazoo River!

5. 2008-03-28
   historical
6. 2008-02-20
   historical
7. 2008-02-20
   historical
8. 2007-05-30
   listed $85,500

   Show marketing remark (334 chars)

   HALF ACRE LOT!! REMODELED! FRESH & NEW with COUNTRY CHARM! Three season front porch, New carpet & laminate, remodeled kitchen & baths. Roof replaced in 05, hot water tank replaced in 05. Updated plumbing and electric, first floor laundry, many newer windows. Large yard that backs up to S branch of Kalamazoo River!

9. 2007-05-30
   listed $85,500 334-char remark

   Show marketing remark (334 chars)

   HALF ACRE LOT!! REMODELED! FRESH & NEW with COUNTRY CHARM! Three season front porch, New carpet & laminate, remodeled kitchen & baths. Roof replaced in 05, hot water tank replaced in 05. Updated plumbing and electric, first floor laundry, many newer windows. Large yard that backs up to S branch of Kalamazoo River!

10. 2007-05-30
    listed $85,500

    Show marketing remark (334 chars)

    HALF ACRE LOT!! REMODELED! FRESH & NEW with COUNTRY CHARM! Three season front porch, New carpet & laminate, remodeled kitchen & baths. Roof replaced in 05, hot water tank replaced in 05. Updated plumbing and electric, first floor laundry, many newer windows. Large yard that backs up to S branch of Kalamazoo River!

11. 2007-05-29
    listed $85,500
12. 2007-05-29
    listed $85,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $14,417
• − Mortgage interest: −$4,789
• − Property taxes: −$1,282
• − Insurance: −$428
• − Repairs & maintenance: −$1,153
• − Management: −$1,153
• − Depreciation: −$2,487
• Taxable income: $3,124
• Est. tax owed @ 24.0%: −$750
• After-tax cash flow: $3,549/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: Jonesville Community Schools
• NCES district ID: 2619920
• Math proficiency: 29% ▬ 0.00%
• Reading proficiency: 40% ▲ 1.00%
• Median HH income: $45,333
• Composite: 29.45/100
• National rank: #6514
• State rank: #297 of 540 in MI

Livability — Hanover

• Score: 64/100
• State rank: #497
• US rank: #14672

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

No demographic data for this ZIP.

Market trends

• HPI YoY: —
• Current HPI: —
• 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

-5.3% since first listed

12 events — show timeline

• 2008-05-16 Listing Removed — MiRealSource-MiMLS
• 2008-05-15 Sold (MLS) $81,000 MiRealSource-MiMLS
• 2008-05-15 Sold (MLS) $81,000 MiRealSource-MiMLS
• 2008-05-15 Sold (MLS) $81,000 SW Michigan MLS
• 2008-03-28 Listing Removed — MiRealSource-MiMLS
• 2008-02-20 Listing Removed — MiRealSource-MiMLS
• 2008-02-20 Listing Removed — REALCOMP
• 2007-05-30 Listed $85,500 MiRealSource-MiMLS
• 2007-05-30 Listed $85,500 MiRealSource-MiMLS
• 2007-05-30 Listed $85,500 REALCOMP
• 2007-05-29 Listed $85,500 MiRealSource-MiMLS
• 2007-05-29 Listed $85,500 SW Michigan MLS