98 Gallup St · Mount Clemens, MI 48043

$185,000

4 bd · 2.0 ba · 1,639 sqft · SingleFamily public records · 16 Days on market

Built 1907 8,276 sqft lot Est $200k · 7% under

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Why this score? — see what drove the D 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 +12.9/30.0
• ARV discount +10.9/15.0
• Rent growth +5.0/5.0
• 1% rule +4.7/10.0
• DSCR +3.9/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Schools +0.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Historic home full of timeless charm and character! Featuring oak hardwood flooring throughout the main level, beautiful wood staircase, and original elm/oak doors throughout. Kitchen with cozy breakfast nook. Main floor bedroom and full bath offer flexible living options. Upstairs features gorgeous pine flooring, three additional bedrooms, and a full bath with classic clawfoot tub. Additional highlights include ADT security , newer roof (approx. 1 year), and newer hot water tank (approx. . 1-2 years). A rare opportunity to own a character-filled home with historic detail and modern updates!

Key facts

• Newer roof
• Wood staircase
• Full bath

Tags

• OAK HARDWOOD FLOORING
• WOOD STAIRCASE
• ORIGINAL ELM OAK DOORS
• FULL BATH
• GORGEOUS PINE FLOORING
• NEWER ROOF

Property features AI

Finance

• HOA & community: Homeowners association present

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half stories
• Construction: Brick and vinyl siding exterior
• Exterior features: Patio; Shed(s); Private maintained road access; Private road frontage; Lot dimensions approximately 60 x 140; Zoned residential

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Partial finished basement; 8 total rooms

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $-12 ($-146/yr) — negative.
• To cash-flow at today's rent, offer at most $183k (1.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $179k (3.2% below list).
• Recommended offer: $179k (3.2% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.0% in Mount Clemens — 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 77/100 on livability (#120 in MI, #2,918 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D+, amenities D+, employment D-.
• Mount Clemens Community School District (suburban): math 4% / reading 11% proficiency, ranked #532 of 540 in MI (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Seminole Academy (math 2% / reading 8%, grade F, #1,325 of 1,397 statewide, top 99%, 370 students, 94% FRL); Mount Clemens Middle School (math 2% / reading 12%, grade F, #481 of 493 statewide, top 98%, 151 students, 94% FRL); Mount Clemens High School (math 10% / reading 30%, grade F, #596 of 713 statewide, top 86%, 203 students, 90% FRL).
• Market conditions: Rents rising fast (+10.8%/yr); 69 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 1,321 units permitted in Macomb County in 2024 (86 in 5+ unit buildings).
• This rent runs 41% of the median local income ($52k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Macomb County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 23y 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.
• Current owner paid $129k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1907 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $179,137 (3.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1907 — 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. 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?
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: 0.97% ✗
• Cap rate: 6.21%
• Cash-on-cash: -0.28%
• DSCR: 0.99
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $199,958
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
111 Scott Blvd	0.21mi	4/2.0	1,612 (-2%)	1mo	$265,000	$164	87
40 Moser Pl	0.19mi	4/2.0	1,593 (-3%)	1mo	$200,000	$126	86
130 Gallup St	0.11mi	4/1.5	1,728 (+5%)	5mo	$90,000	$52	80
53 Englewood St	0.28mi	5/2.0 (+1)	1,656 (+1%)	7mo	$188,000	$114	74
90 Scott Blvd	0.25mi	5/1.5 (+1)	1,702 (+4%)	1mo	$192,000	$113	74
165 Washington St	0.34mi	3/2.0 (-1)	1,732 (+6%)	2mo	$212,000	$122	68
254 Euclid St	0.24mi	4/2.0	1,456 (-11%)	3mo	$192,500	$132	68
33 Ferrin Pl	0.29mi	3/1.0 (-1)	1,525 (-7%)	2mo	$125,000	$82	64
183 Washington St	0.33mi	3/1.5 (-1)	1,445 (-12%)	2mo	$250,000	$173	56
59 Canfield Dr	0.54mi	3/2.0 (-1)	1,826 (+11%)	2mo	$245,000	$134	50
43529 Medea Drive Dr	0.71mi	3/2.0 (-1)	1,728 (+5%)	6mo	$30,000	$17	48
220 Cass Ave	0.66mi	3/1.0 (-1)	1,462 (-11%)	1mo	$165,000	$113	42

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -10.7%
• Equity multiple: 0.59×
• Total profit: $-21,167
• Equity at exit: $27,584

10-year hold

• IRR: 5.1%
• Equity multiple: 1.47×
• Total profit: $24,140
• Equity at exit: $15,995

Cash invested: $51,800 (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 48043

• Rents YoY: 10.8%
• Active inventory: 69
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,791 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$380 /mo · $4,561/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $-12

Break-even live

Break-even rent $1,807

Max offer price $182,851

Occupancy floor 96%

Sensitivity live

Price	-10% $93	-5% $40	+0% $-12	+5% $-65	+10% $-117
Rent	-10% $-154	-5% $-83	+0% $-12	+5% $59	+10% $129
Rate	-1.0pp $81	-0.5pp $35	base $-12	+0.5pp $-60	+1.0pp $-109

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
40 Ferrin Pl Mount Clemens, MI	3.0	1.0	1400	$1,700	$1.21	0d	1	0.27mi
15 Washington St Unit 2 Mt Clemens, MI	3.0	1.0	1396	$1,400	$1.00	45d	1	0.58mi
42510 Pinehurst Dr Clinton Twp, MI	3.0	2.5	1845	$2,600	$1.41	6d	1	1.26mi

Listing history 11 events

1. 2026-06-21
   days on market $185,000 Active 16 DOM
2. 2026-06-18
   days on market $185,000 Active 13 DOM
3. 2026-06-17
   days on market $185,000 Active 12 DOM
4. 2026-06-16
   days on market $185,000 Active 11 DOM
5. 2026-06-15
   days on market $185,000 Active 10 DOM
6. 2026-06-13
   days on market $185,000 Active 8 DOM
7. 2026-06-13
   days on market $185,000 Active 7 DOM
8. 2026-06-09
   days on market $185,000 Active 4 DOM
9. 2026-06-08
   days on market $185,000 Active 3 DOM
10. 2026-06-07
    remarks 598-char remark
11. 2026-06-07
    listed $185,000 Active 2 DOM

ⓘ 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: $4,561 · $380/mo
• Projected year-2 tax: $4,561 · $380/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 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,496
• − Mortgage interest: −$10,363
• − Property taxes: −$4,561
• − Insurance: −$925
• − Repairs & maintenance: −$1,720
• − Management: −$1,720
• − Depreciation: −$5,382
• Taxable loss: −$3,174
• Est. tax savings @ 24.0%: +$762
• After-tax cash flow: $616/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: Mount Clemens Community School District
• NCES district ID: 2624690
• Math proficiency: 4% ▼ -9.00%
• Reading proficiency: 11% ▼ -7.00%
• Median HH income: $36,632
• Composite: 6.25/100
• National rank: #10005
• State rank: #532 of 540 in MI

Livability — Mount Clemens

• Score: 77/100
• State rank: #120
• US rank: #2918

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mount Clemens, MI
• County: Macomb County · 638,552 people
• City population: 15,429
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 15,429
• Household income: $52,161
• Rent vs Own: 40.2% rent · 59.8% own
• Severe rent burden: 610.0

Population outlook (Macomb County) Hauer SSP2

• Today (2025): 925,296 people
• By 2030: 948,226 · +2.5%
• By 2040: 983,961 · +6.3%
• By 2050: 1,010,200 · +9.2%
• By 2075: 1,076,222 · +16.3%
• By 2100: 1,077,065 · +16.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Black 22% Two or more races 10% Hispanic / Latino 4%
• Common ancestry: Romanian 10% Lithuanian 4% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Macomb

• 2024 margin: R (+13.7) · D 42.2% · R 55.9% · Other 1.9%
• 2008→2024 swing: -22.3pp toward R · 2008: 8.6pp · 2024: -13.7pp
• All cycles: 2024: R+13.7 2020: R+8.1 2016: R+11.6 2012: D+4.0 2008: D+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -194.74%
• Current HPI: 260.7139
• Rent YoY: ▲ 10.82%
• Metro: Detroit-Warren-Dearborn, 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

+15.7% since first listed

22 events — show timeline

• 2026-06-05 Listed $185,000 MiRealSource-MiMLS
• 2026-06-05 Listed $185,000 REALCOMP
• 2021-05-05 Sold (Public Records) $129,000 Public Records
• 2021-04-21 Sold (MLS) $129,000 REALCOMP
• 2021-04-21 Sold (MLS) $129,000 MiRealSource-MiMLS
• 2021-03-17 Pending — MiRealSource-MiMLS
• 2021-03-12 Relisted — MiRealSource-MiMLS
• 2021-03-11 Pending — MiRealSource-MiMLS
• 2021-03-01 Listed $129,900 REALCOMP
• 2021-03-01 Listed $129,900 MiRealSource-MiMLS
• 2008-05-13 Listing Removed — REALCOMP
• 2008-05-13 Listing Removed — MiRealSource-MiMLS
• 2007-05-10 Listed $150,000 REALCOMP
• 2007-05-10 Listed $150,000 MiRealSource-MiMLS
• 2004-08-10 Sold (Public Records) $154,640 Public Records
• 2004-07-07 Sold (MLS) $154,640 MiRealSource-MiMLS
• 2004-07-07 Sold (MLS) $150,000 REALCOMP
• 2004-05-12 Listing Removed — MiRealSource-MiMLS
• 2003-12-03 Listed $159,900 REALCOMP
• 2003-12-02 Listed $159,900 MiRealSource-MiMLS
• 2003-11-26 Listing Removed — REALCOMP
• 2003-08-26 Listed $159,900 REALCOMP

Property tax history

+7.1%/yr

Latest (2025): $4,561 · +0.6% YoY. Source: county tax records.