212 Woodland Ave

Blackman, MI 49203

$79,900B

3 bd · 1.0 ba · 1,991 sqft · Built 1940 · SingleFamily · Active · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,580/mo
• Mortgage (P&I): −$419
• Tax + insurance: −$148
• HOA: −$0
• Vac / Maint / Mgmt: −$332
• Net cashflow: $681/mo
• Annual: $8,177/yr
• Cap rate: 16.53%
• Cash-on-cash: 36.55%
• DSCR: 2.63
• 1% rule: 1.98%
• Cash to close: $22,372

Investor read

• This is a 3-bed/1.0-bath single-family listed at $80k.
• At list price, monthly cash flow is $681 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Western School District (rural): math 33% / reading 50% proficiency, ranked #179 of 540 in MI (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Bean Elementary School (math 32% / reading 47%, grade F, #606 of 1,397 statewide, top 48%, 402 students, 35% FRL); Western Middle School (math 29% / reading 46%, grade F, #243 of 493 statewide, top 50%, 586 students, 41% FRL); Western High School (math 42% / reading 67%, grade C-, #109 of 713 statewide, top 17%, 846 students, 30% FRL) — zoned schools at 35% FRL track the district average.
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+7.5%/yr); 172 active listings in the ZIP; 317 units permitted in Jackson County in 2024 (103 in 5+ unit buildings).
• Jackson County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 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.
• At projected returns (-3.0% appreciation + 7.5% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• This rent runs 34% of the median local income ($56k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1940 — 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.
• 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.