608 Holly Ct

Jonesville, MI 49250

$55,900B

2 bd · 1.0 ba · 1,104 sqft · Built 1986 · SingleFamily · Active · 18 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,031/mo
• Mortgage (P&I): −$293
• Tax + insurance: −$93
• HOA: −$0
• Vac / Maint / Mgmt: −$217
• Net cashflow: $428/mo
• Annual: $5,138/yr
• Cap rate: 15.48%
• Cash-on-cash: 32.83%
• DSCR: 2.46
• 1% rule: 1.84%
• Cash to close: $15,652

Investor read

• This is a 2-bed/1.0-bath single-family listed at $56k. Condition is rated fair.
• At list price, monthly cash flow is $428 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $56k).
• It's been on market 18 days — a 2% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $55k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $386 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#267 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, amenities F, commute F.
• 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: 25 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 72 units permitted in Hillsdale County in 2024 (0 in 5+ unit buildings).
• Hillsdale County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 2y 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~4 years — after that, you're playing with house money.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.

Repairs flagged (vision-AI assessment)

• Major: paint — paint appears faded in some areas
• Minor: HVAC unit — visible but no immediate issues