2724 N US Hwy 31 · Niles, MI 49120

$99,900

2 bd · 1.0 ba · 1,044 sqft · SingleFamily public records · 41 Days on market

Built 1940 3.81 ac lot

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Why this score? — see what drove the C 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 +22.9/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• 1% rule +6.2/10.0
• Livability +3.6/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Home has been gutted and ready for a full remodel. There is a large cement slab for a pole barn. Great large lot with many trees and close to downtown Niles. Furnace, well, septic and electric should be in good working.

Key facts

• Large cement slab
• Large lot
• Many trees

Tags

• LARGE CEMENT SLAB
• LARGE LOT
• MANY TREES
• CLOSE TO DOWNTOWN NILES

Property features AI

Finance

• Other: Property type: Residential single family; Lot size: 3.81 acres; Living area: 1,044 square feet
• Financial info: Financial details not provided
• HOA & community: HOA information not provided

Exterior

• Parking: Parking details not provided
• Security: Security details not provided
• Utilities: Well water; Natural gas connected
• Home design: Ranch-style single family residence; 1940 construction
• Construction: Aluminum siding exterior; Composition roof
• Exterior features: Wooded lot; Paved road access

Interior

• Kitchen: Kitchen details not provided
• Bedrooms: Bedrooms information not provided
• Flooring: Flooring details not provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas connected
• Interior features: 5 total rooms; Partial basement
• Laundry & utility: Well water

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $175 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 4.3% in Niles — 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 72/100 on livability (#260 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute D+, schools D, crime D-.
• Niles Community Schools (urban): math 33% / reading 43% proficiency, ranked #248 of 540 in MI (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 208 active listings in the ZIP; 397 units permitted in Berrien County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Berrien County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 4y ago; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $85k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $96,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 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 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.12% ✓
• Cap rate: 8.39%
• Cash-on-cash: 7.50%
• DSCR: 1.33
• GRM: 7.4

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: -4.8%
• Equity multiple: 0.82×
• Total profit: $-5,017
• Equity at exit: $14,895

10-year hold

• IRR: 4.9%
• Equity multiple: 1.36×
• Total profit: $10,096
• Equity at exit: $8,638

Cash invested: $27,972 (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 49120

• Active inventory: 208
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,121 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$145 /mo · $1,738/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$235
• Net cashflow: $175

Break-even live

Break-even rent $899

Max offer price $99,900

Occupancy floor 79%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-13
   statusdays on market $99,900 Pending 41 DOM
2. 2026-06-10
   days on market $99,900 Active 40 DOM
3. 2026-06-09
   days on market $99,900 Active 39 DOM
4. 2026-06-08
   days on market $99,900 Active 38 DOM
5. 2026-06-07
   days on market $99,900 Active 37 DOM
6. 2026-06-05
   days on market $99,900 Active 34 DOM
7. 2026-06-03
   days on market $99,900 Active 33 DOM
8. 2026-06-02
   days on market $99,900 Active 32 DOM
9. 2026-06-01
   days on market $99,900 Active 31 DOM
10. 2026-05-31
    days on market $99,900 Active 30 DOM
11. 2026-05-30
    days on market $99,900 Active 29 DOM
12. 2026-05-21
    price $99,900 219-char remark

    Show marketing remark (219 chars)

    Home has been gutted and ready for a full remodel. There is a large cement slab for a pole barn. Great large lot with many trees and close to downtown Niles. Furnace, well, septic and electric should be in good working.

13. 2026-05-20
    price $99,900 219-char remark

    Show marketing remark (219 chars)

    Home has been gutted and ready for a full remodel. There is a large cement slab for a pole barn. Great large lot with many trees and close to downtown Niles. Furnace, well, septic and electric should be in good working.

14. 2026-05-20
    price $99,900

    Show marketing remark (219 chars)

    Home has been gutted and ready for a full remodel. There is a large cement slab for a pole barn. Great large lot with many trees and close to downtown Niles. Furnace, well, septic and electric should be in good working.

15. 2026-04-30
    listed $110,000 Active 219-char remark

    Show marketing remark (219 chars)

    Home has been gutted and ready for a full remodel. There is a large cement slab for a pole barn. Great large lot with many trees and close to downtown Niles. Furnace, well, septic and electric should be in good working.

16. 2026-04-30
    listed $110,000 Active 219-char remark

    Show marketing remark (219 chars)

    Home has been gutted and ready for a full remodel. There is a large cement slab for a pole barn. Great large lot with many trees and close to downtown Niles. Furnace, well, septic and electric should be in good working.

17. 2026-04-30
    listed $110,000 Active

    Show marketing remark (219 chars)

    Home has been gutted and ready for a full remodel. There is a large cement slab for a pole barn. Great large lot with many trees and close to downtown Niles. Furnace, well, septic and electric should be in good working.

18. 2026-01-01
    historical
19. 2025-11-28
    status Active
20. 2025-11-28
    status Active
21. 2025-11-10
    status Pending
22. 2025-11-10
    status Pending
23. 2025-11-10
    historical
24. 2025-08-29
    listed $140,000 Active
25. 2025-08-29
    listed $140,000 Active
26. 2022-03-25
    soldstatus $85,000 Sold
27. 2022-03-02
    historical Contingent - Continue To Show
28. 2022-02-03
    listed $69,900 Active

ⓘ 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: $1,738 · $145/mo
• Projected year-2 tax: $1,738 · $145/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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,447
• − Mortgage interest: −$5,596
• − Property taxes: −$1,738
• − Insurance: −$500
• − Repairs & maintenance: −$1,076
• − Management: −$1,076
• − Depreciation: −$2,906
• Taxable income: $556
• Est. tax owed @ 24.0%: −$133
• After-tax cash flow: $1,966/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: Niles Community Schools
• NCES district ID: 2625560
• Math proficiency: 33% ▼ -9.00%
• Reading proficiency: 43% ▼ -4.00%
• Median HH income: $39,281
• Composite: 31.77/100
• National rank: #5894
• State rank: #248 of 540 in MI

Livability — Niles

• Score: 72/100
• State rank: #260
• US rank: #6422

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Berrien County · 71,477 people
• City population: 36,495
• Metro: Niles, MI
• Population (ZIP): 36,495
• Household income: $65,148
• Rent vs Own: 20.9% rent · 79.1% own
• Severe rent burden: 782.0

Population outlook (Berrien County) Hauer SSP2

• Today (2025): 149,273 people
• By 2030: 145,211 · -2.7%
• By 2040: 135,435 · -9.3%
• By 2050: 125,543 · -15.9%
• By 2075: 103,986 · -30.3%
• By 2100: 82,256 · -44.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Black 7% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Romanian 5% Iranian 3% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Berrien

• 2024 margin: Lean R (+7.9) · D 45.4% · R 53.2% · Other 1.4%
• 2008→2024 swing: -13.3pp toward R · 2008: 5.5pp · 2024: -7.9pp
• All cycles: 2024: R+7.9 2020: R+7.4 2016: R+12.7 2012: R+6.6 2008: D+5.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -345.26%
• Current HPI: 195.8214
• Rent YoY: —
• Metro: Niles, MI
• 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

+42.9% since first listed

17 events — show timeline

• 2026-05-21 Price Changed $99,900 MiRealSource-MiMLS
• 2026-05-20 Price Changed $99,900 REALCOMP
• 2026-05-20 Price Changed $99,900 SW Michigan MLS
• 2026-04-30 Listed $110,000 SW Michigan MLS
• 2026-04-30 Listed $110,000 REALCOMP
• 2026-04-30 Listed $110,000 MiRealSource-MiMLS
• 2026-01-01 Listing Removed — MiRealSource-MiMLS
• 2025-11-28 Relisted — REALCOMP
• 2025-11-28 Relisted — MiRealSource-MiMLS
• 2025-11-10 Pending — REALCOMP
• 2025-11-10 Pending — MiRealSource-MiMLS
• 2025-11-10 Listing Removed — REALCOMP
• 2025-08-29 Listed $140,000 REALCOMP
• 2025-08-29 Listed $140,000 MiRealSource-MiMLS
• 2022-03-25 Sold (MLS) $85,000 REALCOMP
• 2022-03-02 Contingent — REALCOMP
• 2022-02-03 Listed $69,900 REALCOMP

Property tax history

+6.3%/yr

Latest (2024): $1,738 · +6.1% YoY. Source: county tax records.