912 N River St · Ypsilanti, MI 48198

$150,000

2 bd · 3.0 ba · 1,764 sqft · SingleFamily · 3 Days on market

Built 1920 8,276 sqft lot Est $289k · 48% under

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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 +28.8/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• Livability +4.0/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor opportunity with multiple value-add strategies! Situated in Ypsilanti's desirable North River corridor, just minutes from Depot Town, Riverside Park, EMU, and downtown Ypsilanti. This property features a detached garage with workshop, 3 full bathrooms, finished basement, and separate exterior access to the upper level. The flexible floor plan offers potential for a larger single-family layout, house-hack setup, or possible two-unit conversion (subject to buyer verification of zoning and municipal requirements). Upper level functions as a loft-style suite with full bath, while the finished lower level provides additional living space and a third full bathroom. Ideal for investors, flippers, landlords, or owner-occupants seeking sweat equity. Cash or renovation financing only. Property sold strictly AS-IS. Seller will make no repairs. Buyer responsible for all due diligence, inspections, permits, certifications, and any repairs required for financing, occupancy or future use.

Key facts

• Loft-style suite
• Finished basement
• Workshop

Tags

• DETACHED GARAGE
• WORKSHOP
• FINISHED BASEMENT
• SEPARATE EXTERIOR ACCESS
• LOFT-STYLE SUITE
• ADDITIONAL LIVING SPACE

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water
• Home design: Single-family residence (residential); Built in 1920
• Construction: Aluminum and wood siding; Asphalt/composition roof
• Exterior features: Shed(s) on the property; Lot is approximately 0.19 acres

Interior

• Bathrooms: 3 full bathrooms
• Heating & cooling: Forced air heating
• Interior features: 10 total rooms; Daylight, full Michigan-style basement
• Laundry & utility: Natural gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/3.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $506 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 10.3% vs local median 3.9% in Ypsilanti — 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 81/100 on livability (#71 in MI, #1,539 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment D-.
• Ypsilanti Community Schools (suburban): math 11% / reading 20% proficiency, ranked #501 of 540 in MI (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.4%/yr); 166 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 996 units permitted in Washtenaw County in 2024 (492 in 5+ unit buildings).
• This rent runs 36% of the median local income ($63k/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 $4k of value loss. Plan a longer hold.
• Washtenaw County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 4.4% rent growth), your $42k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.
• Current owner paid $45k; list at $150k implies a 234% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $150,000

Questions for the listing agent

1. Built in 1920 — 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. Crime grade is F 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?
4. 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.
5. 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.
6. 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: 1.26% ✓
• Cap rate: 10.34%
• Cash-on-cash: 14.46%
• DSCR: 1.64
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $289,296
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
815 N Prospect Rd	0.28mi	2/2.0	1,779 (+1%)	10mo	$299,000	$168	73
505 Holmes Rd	0.32mi	3/2.0 (+1)	1,664 (-6%)	0mo	$300,000	$180	66
618 Vought St	0.51mi	2/2.0	1,760 (-0%)	17mo	$274,600	$156	58
702 Hemphill St	0.30mi	3/1.0 (+1)	1,695 (-4%)	11mo	$336,500	$199	58
310 Olive St	0.61mi	3/2.5 (+1)	1,797 (+2%)	5mo	$290,000	$161	57
727 Charles St	0.45mi	3/2.0 (+1)	1,689 (-4%)	9mo	$260,000	$154	56
712 E Forest Ave	0.59mi	2/1.0	1,794 (+2%)	8mo	$214,832	$120	56
725 Charles St	0.45mi	3/2.0 (+1)	1,597 (-10%)	6mo	$285,000	$178	49
315 E Cross St	0.55mi	3/1.0 (+1)	1,745 (-1%)	16mo	$286,000	$164	46
501 N River St	0.47mi	3/2.0 (+1)	2,015 (+14%)	2mo	$297,050	$147	44
935 Carol St	0.38mi	3/2.0 (+1)	1,500 (-15%)	16mo	$197,850	$132	35
412 High St	0.71mi	3/2.0 (+1)	2,000 (+13%)	11mo	$440,000	$220	26

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 · 4.38% rent growth · sell at horizon

5-year hold

• IRR: 6.4%
• Equity multiple: 1.25×
• Total profit: $10,589
• Equity at exit: $22,365

10-year hold

• IRR: 16.9%
• Equity multiple: 2.47×
• Total profit: $61,944
• Equity at exit: $12,969

Cash invested: $42,000 (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 48198

• Rents YoY: 4.4%
• Active inventory: 166
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,889 high
• Mortgage (P&I): −$787
• Tax from tax record: −$137 /mo · $1,643/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $506

Break-even live

Break-even rent $1,248

Max offer price $150,000

Occupancy floor 68%

Sensitivity live

Price	-10% $591	-5% $549	+0% $506	+5% $464	+10% $421
Rent	-10% $357	-5% $432	+0% $506	+5% $581	+10% $655
Rate	-1.0pp $582	-0.5pp $544	base $506	+0.5pp $467	+1.0pp $428

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
925 Terrace Ln Ypsilanti, MI	2.0	1.0	1930	$1,850	$0.96	18d	1	0.40mi
1000 N Huron River Dr Ypsilanti, MI	1.0–4.0	1.0–4.0	937	$1,308	$1.40	2d	1	0.82mi
701 Washtenaw Ave Unit 1 Ypsilanti, MI	3.0	1.0	1350	$2,500	$1.85	25d	1	1.00mi
701 Washtenaw Ave Unit : 2 Ypsilanti, MI	3.0	1.0	1350	$2,400	$1.78	3d	1	1.00mi
701 Washtenaw Ave Unit 1 Ypsilanti, MI	3.0	1.0	1350	$2,400	$1.78	12d	1	1.00mi
1525 Devon St Ypsilanti, MI	3.0	1.0	1300	$2,300	$1.77	44d	1	1.17mi
804 W Michigan Ave Ypsilanti, MI	3.0	1.0	1375	$1,650	$1.20	2d	1	1.32mi

Listing history 4 events

1. 2026-06-18
   days on market $150,000 Active 3 DOM
2. 2026-06-17
   days on market $150,000 Active 2 DOM
3. 2026-06-15
   remarks 699-char remark

   Show marketing remark (997 chars)

   Investor opportunity with multiple value-add strategies! Situated in Ypsilanti's desirable North River corridor, just minutes from Depot Town, Riverside Park, EMU, and downtown Ypsilanti. This property features a detached garage with workshop, 3 full bathrooms, finished basement, and separate exterior access to the upper level. The flexible floor plan offers potential for a larger single-family layout, house-hack setup, or possible two-unit conversion (subject to buyer verification of zoning and municipal requirements). Upper level functions as a loft-style suite with full bath, while the finished lower level provides additional living space and a third full bathroom. Ideal for investors, flippers, landlords, or owner-occupants seeking sweat equity. Cash or renovation financing only. Property sold strictly AS-IS. Seller will make no repairs. Buyer responsible for all due diligence, inspections, permits, certifications, and any repairs required for financing, occupancy or future use.

4. 2026-06-15
   listed $150,000 Active 1 DOM

   Show marketing remark (997 chars)

   Investor opportunity with multiple value-add strategies! Situated in Ypsilanti's desirable North River corridor, just minutes from Depot Town, Riverside Park, EMU, and downtown Ypsilanti. This property features a detached garage with workshop, 3 full bathrooms, finished basement, and separate exterior access to the upper level. The flexible floor plan offers potential for a larger single-family layout, house-hack setup, or possible two-unit conversion (subject to buyer verification of zoning and municipal requirements). Upper level functions as a loft-style suite with full bath, while the finished lower level provides additional living space and a third full bathroom. Ideal for investors, flippers, landlords, or owner-occupants seeking sweat equity. Cash or renovation financing only. Property sold strictly AS-IS. Seller will make no repairs. Buyer responsible for all due diligence, inspections, permits, certifications, and any repairs required for financing, occupancy or future use.

ⓘ 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: $1,643 · $137/mo
• Projected year-2 tax: $1,976 · $165/mo
• Expected delta: +$334/yr (+$28/mo · 20.3%)

ⓘ 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 2/10 Low 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,667
• − Mortgage interest: −$8,402
• − Property taxes: −$1,643
• − Insurance: −$750
• − Repairs & maintenance: −$1,813
• − Management: −$1,813
• − Depreciation: −$4,364
• Taxable income: $3,881
• Est. tax owed @ 24.0%: −$931
• After-tax cash flow: $5,143/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: Ypsilanti Community Schools
• NCES district ID: 2636630
• Math proficiency: 11% ▼ -8.00%
• Reading proficiency: 20% ▼ -3.00%
• Median HH income: $37,759
• Composite: 12.98/100
• National rank: #9572
• State rank: #501 of 540 in MI

Livability — Ypsilanti

• Score: 81/100
• State rank: #71
• US rank: #1539

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Washtenaw County · 306,860 people
• City population: 105,769
• Metro: Ann Arbor, MI
• Population (ZIP): 39,244
• Household income: $63,326
• Rent vs Own: 42.5% rent · 57.5% own
• Severe rent burden: 1998.0

Population outlook (Washtenaw County) Hauer SSP2

• Today (2025): 402,878 people
• By 2030: 424,104 · +5.3%
• By 2040: 464,633 · +15.3%
• By 2050: 504,728 · +25.3%
• By 2075: 614,463 · +52.5%
• By 2100: 676,181 · +67.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 48% Black 32% Two or more races 11% Hispanic / Latino 8% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 3% Italian 2% Slovak 2%
• Foreign-born: 9% · Canada, China, South Korea
• Languages at home: 88% English-only · Spanish 7% Other Indo-European 1% Arabic 1%

Political lean MEDSL · Washtenaw

• 2024 margin: Solid D (+44.4) · D 71.0% · R 26.6% · Other 2.4%
• 2008→2024 swing: +3.5pp toward D · 2008: 41.0pp · 2024: 44.4pp
• All cycles: 2024: D+44.4 2020: D+46.6 2016: D+41.5 2012: D+36.0 2008: D+41.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -224.96%
• Current HPI: 204.1228
• Rent YoY: ▲ 4.38%
• Metro: Ann Arbor, 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

+234.1% since first listed

4 events — show timeline

• 2026-06-15 Listed $150,000 REALCOMP
• 2026-06-15 Listed $150,000 MiRealSource-MiMLS
• 2026-06-15 Listed $150,000 SW Michigan MLS
• 1989-11-01 Sold (Public Records) $44,900 Public Records

Property tax history

+4.0%/yr

Latest (2016): $1,643 · +3.6% YoY. Source: county tax records.