1112 17th St

Marysville, MI 48040

$229,900D+

3 bd · 1.5 ba · 1,130 sqft · Built 1948 · SingleFamily · Pending

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,220/mo
• Mortgage (P&I): −$1,206
• Tax + insurance: −$273
• HOA: −$0
• Vac / Maint / Mgmt: −$466
• Net cashflow: $276/mo
• Annual: $3,308/yr
• Cap rate: 7.73%
• Cash-on-cash: 5.14%
• DSCR: 1.23
• 1% rule: 0.97%
• Cash to close: $64,372

Investor read

• This is a 3-bed/1.5-bath single-family listed at $230k.
• At list price, monthly cash flow is $276 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $222k (3.4% below list).
• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $222k (3.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#114 in MI, #2,700 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities C-, employment D+, health & safety D.
• Marysville Public Schools (suburban): math 42% / reading 53% proficiency, ranked #115 of 540 in MI (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 84 active listings in the ZIP; 232 units permitted in St. Clair County in 2024 (0 in 5+ unit buildings).
• St. Clair County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 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.
• Cap rate 7.7% vs local median 4.8% in Marysville — 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.

Questions for listing agent

• Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.
• 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.
• 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.