503 E 2nd St · Monroe, MI 48161

$130,000

5 bd · 2.0 ba · 1,914 sqft · SingleFamily public records · 18 Days on market

Built 1863 6,098 sqft lot $68/sqft · 28% below area Est $195k · 33% under

---

Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• Livability +4.2/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Featuring 5 bedrooms and over 2,000 square feet of living space. Step inside to a spacious living room filled with natural light from the large windows. The kitchen offers plenty of space and functionality, ready for you to update to your liking. Outside, enjoy the convenience of a detached garage with alley access. The home also includes a Michigan basement, providing additional storage space and flexibility. Located just minutes from downtown Monroe, local parks, schools, and shopping, this property offers the perfect blend of quiet neighborhood living with easy access to everyday amenities. With solid space, character, and endless possibilities, this home is full of potential for the right buyer.

Key facts

• Alley access
• Michigan basement
• Detached garage

Tags

• DETACHED GARAGE
• ALLEY ACCESS
• MICHIGAN BASEMENT
• QUIET NEIGHBORHOOD LIVING
• EASY ACCESS TO AMENITIES

Property features AI

Exterior

• Parking: Detached garage with alley access (1 car)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Ground-level entry with steps; Vinyl siding
• Construction: Block foundation; Asphalt and other roof materials; Built with vinyl siding
• Exterior features: Back yard with fencing; Paved road access

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Unfinished basement; Total of 10 rooms

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $503 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $128k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 4.0% in Monroe — 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 83/100 on livability (#51 in MI, #1,034 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, crime D+, amenities D+.
• Monroe Public Schools (suburban): math 24% / reading 47% proficiency, ranked #278 of 540 in MI (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 142 active listings in the ZIP; 264 units permitted in Monroe County in 2024 (40 in 5+ unit buildings).
• This rent runs 33% of the median local income ($67k/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 $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Monroe County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 26y ago; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $100k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1863 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $128,050 (1.5% below list)

Questions for the listing agent

1. Built in 1863 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.41% ✓
• Cap rate: 10.94%
• Cash-on-cash: 16.58%
• DSCR: 1.74
• GRM: 5.9

CMA / ARV

• ARV (median comp): $195,316
• List price: $130,000
• Delta: -13.01%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
422 E 1st St	0.05mi	4/2.0 (-1)	1,728 (-10%)	2mo	$179,900	$104	74
1270 E 1st St	0.63mi	5/2.0	1,857 (-3%)	1mo	$45,000	$24	65
128 Cass St	0.46mi	4/2.5 (-1)	1,900 (-1%)	9mo	$224,000	$118	63
132 Godfroy Ave	0.65mi	5/2.0	1,839 (-4%)	4mo	$183,000	$100	60
215 Harrison St	0.50mi	4/1.5 (-1)	2,000 (+4%)	8mo	$230,000	$115	55
737 Cass St	0.60mi	4/1.5 (-1)	1,794 (-6%)	10mo	$238,000	$133	46
611 Hubble St	0.72mi	4/2.0 (-1)	1,808 (-6%)	10mo	$165,000	$91	44
934 Cherry St	0.70mi	5/2.0	1,700 (-11%)	6mo	$165,000	$97	44
712 Washington St	0.49mi	4/1.5 (-1)	2,176 (+14%)	8mo	$224,000	$103	41
329 W 7th St	0.74mi	4/2.0 (-1)	1,716 (-10%)	5mo	$205,000	$119	39
303 E Lorain St	0.74mi	4/1.5 (-1)	1,668 (-13%)	3mo	$179,000	$107	35
616 Hubble St	0.74mi	4/1.5 (-1)	1,629 (-15%)	0mo	$220,000	$135	34

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.7%
• Equity multiple: 1.30×
• Total profit: $11,027
• Equity at exit: $19,383

10-year hold

• IRR: 17.0%
• Equity multiple: 2.40×
• Total profit: $51,078
• Equity at exit: $11,240

Cash invested: $36,400 (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 48161

• Active inventory: 142
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,830 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$207 /mo · $2,485/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $503

Break-even live

Break-even rent $1,194

Max offer price $130,000

Occupancy floor 68%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-18
   days on market $130,000 Active 18 DOM
2. 2026-06-17
   days on market $130,000 Active 17 DOM
3. 2026-06-16
   days on market $130,000 Active 16 DOM

   Show marketing remark (708 chars)

   Featuring 5 bedrooms and over 2,000 square feet of living space. Step inside to a spacious living room filled with natural light from the large windows. The kitchen offers plenty of space and functionality, ready for you to update to your liking. Outside, enjoy the convenience of a detached garage with alley access. The home also includes a Michigan basement, providing additional storage space and flexibility. Located just minutes from downtown Monroe, local parks, schools, and shopping, this property offers the perfect blend of quiet neighborhood living with easy access to everyday amenities. With solid space, character, and endless possibilities, this home is full of potential for the right buyer.

4. 2026-06-16
   price $130,000 Active 15 DOM

   Show marketing remark (708 chars)

   Featuring 5 bedrooms and over 2,000 square feet of living space. Step inside to a spacious living room filled with natural light from the large windows. The kitchen offers plenty of space and functionality, ready for you to update to your liking. Outside, enjoy the convenience of a detached garage with alley access. The home also includes a Michigan basement, providing additional storage space and flexibility. Located just minutes from downtown Monroe, local parks, schools, and shopping, this property offers the perfect blend of quiet neighborhood living with easy access to everyday amenities. With solid space, character, and endless possibilities, this home is full of potential for the right buyer.

5. 2026-06-15
   days on market $149,900 Active 15 DOM
6. 2026-06-14
   days on market $149,900 Active 13 DOM
7. 2026-06-12
   days on market $149,900 Active 12 DOM
8. 2026-06-09
   days on market $149,900 Active 9 DOM
9. 2026-06-08
   days on market $149,900 Active 8 DOM
10. 2026-06-07
    days on market $149,900 Active 7 DOM
11. 2026-06-05
    days on market $149,900 Active 4 DOM
12. 2026-06-02
    days on market $149,900 Active 2 DOM
13. 2026-05-31
    pricedays on marketlisting id $149,900 Active 1 DOM

    Show marketing remark (708 chars)

    Featuring 5 bedrooms and over 2,000 square feet of living space. Step inside to a spacious living room filled with natural light from the large windows. The kitchen offers plenty of space and functionality, ready for you to update to your liking. Outside, enjoy the convenience of a detached garage with alley access. The home also includes a Michigan basement, providing additional storage space and flexibility. Located just minutes from downtown Monroe, local parks, schools, and shopping, this property offers the perfect blend of quiet neighborhood living with easy access to everyday amenities. With solid space, character, and endless possibilities, this home is full of potential for the right buyer.

14. 2026-05-19
    price $169,900 794-char remark
15. 2026-05-18
    price $169,900 794-char remark
16. 2026-05-09
    listed $179,900 Active 794-char remark
17. 2026-05-09
    listed $179,900 Active 794-char remark
18. 2026-05-06
    historical $179,900 794-char remark
19. 2025-05-11
    historical $1,500
20. 2025-05-07
    listed $1,500
21. 2024-05-03
    soldstatus $100,000
22. 2022-05-10
    soldstatus $55,000
23. 2009-07-25
    historical
24. 2008-08-20
    soldstatus $18,000
25. 2008-08-20
    soldstatus $18,000
26. 2008-07-25
    historical
27. 2008-01-25
    listed $19,900
28. 2008-01-25
    listed $19,900
29. 2002-12-30
    listed $144,900
30. 2000-09-22
    historical
31. 2000-05-22
    listed $126,500

ⓘ 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: $2,485 · $207/mo
• Projected year-2 tax: $2,485 · $207/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 ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,964
• − Mortgage interest: −$7,282
• − Property taxes: −$2,485
• − Insurance: −$650
• − Repairs & maintenance: −$1,757
• − Management: −$1,757
• − Depreciation: −$3,782
• Taxable income: $4,251
• Est. tax owed @ 24.0%: −$1,020
• After-tax cash flow: $5,016/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: Monroe Public Schools
• NCES district ID: 2624150
• Math proficiency: 24% ▲ 3.00%
• Reading proficiency: 47% ▲ 12.00%
• Median HH income: $46,437
• Composite: 30.33/100
• National rank: #6269
• State rank: #278 of 540 in MI

Livability — Monroe

• Score: 83/100
• State rank: #51
• US rank: #1034

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Monroe, MI
• County: Monroe County · 54,460 people
• City population: 54,460
• Metro: Monroe, MI
• Population (ZIP): 26,304
• Household income: $67,414
• Rent vs Own: 23.6% rent · 76.4% own
• Severe rent burden: 733.0

Population outlook (Monroe County) Hauer SSP2

• Today (2025): 144,439 people
• By 2030: 140,033 · -3.1%
• By 2040: 128,408 · -11.1%
• By 2050: 115,024 · -20.4%
• By 2075: 87,273 · -39.6%
• By 2100: 63,110 · -56.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 7% Black 5% Hispanic / Latino 5%
• Common ancestry: Lithuanian 10% Romanian 8% Italian 2%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1% Arabic 1%

Political lean MEDSL · Monroe

• 2024 margin: Strong R (+27.1) · D 35.7% · R 62.9% · Other 1.4%
• 2008→2024 swing: -31.5pp toward R · 2008: 4.3pp · 2024: -27.1pp
• All cycles: 2024: R+27.1 2020: R+22.6 2016: R+22.1 2012: D+1.0 2008: D+4.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -178.99%
• Current HPI: 126.2638
• Rent YoY: —
• Metro: Monroe, 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

+2.8% since first listed

24 events — show timeline

• 2026-06-16 Price Changed $130,000 MiRealSource-MiMLS
• 2026-06-15 Price Changed $130,000 REALCOMP
• 2026-05-31 Listed $149,900 REALCOMP
• 2026-05-31 Listed $149,900 MiRealSource-MiMLS
• 2026-05-29 Listing Removed — MiRealSource-MiMLS
• 2026-05-29 Listing Removed — REALCOMP
• 2026-05-19 Price Changed $169,900 MiRealSource-MiMLS
• 2026-05-18 Price Changed $169,900 REALCOMP
• 2026-05-09 Listed $179,900 MiRealSource-MiMLS
• 2026-05-09 Listed $179,900 REALCOMP
• 2026-05-06 Coming Soon — MiRealSource-MiMLS
• 2025-05-11 Rental Removed $1,500 APPFOLIO
• 2025-05-07 Listed for Rent $1,500 APPFOLIO
• 2024-05-03 Sold (Public Records) $100,000 Public Records
• 2022-05-10 Sold (Public Records) $55,000 Public Records
• 2009-07-25 Listing Removed — MiRealSource-MiMLS
• 2008-08-20 Sold (MLS) $18,000 REALCOMP
• 2008-08-20 Sold (MLS) $18,000 MiRealSource-MiMLS
• 2008-07-25 Listing Removed — MiRealSource-MiMLS
• 2008-01-25 Listed $19,900 REALCOMP
• 2008-01-25 Listed $19,900 MiRealSource-MiMLS
• 2002-12-30 Listed $144,900 MiRealSource-MiMLS
• 2000-09-22 Listing Removed — MiRealSource-MiMLS
• 2000-05-22 Listed $126,500 MiRealSource-MiMLS

Property tax history

+4.1%/yr

Latest (2025): $2,485 · -44.9% YoY. Source: county tax records.