6174 Marlette St · Marlette, MI 48453

$137,500

3 bd · 1.0 ba · 1,200 sqft · SingleFamily · 97 Days on market

Built 1972 3.27 ac lot $115/sqft · 10% below area Est $153k · 10% under ↓ 4% since listing

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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 +13.9/30.0
• ARV discount +12.0/15.0
• DSCR +4.2/10.0
• Schools +3.9/10.0
• Livability +3.1/5.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious Opportunity with Home, Large Outbuilding & Income Potential! This unique property offers incredible flexibility for investors, entrepreneurs, or anyone looking for extra space and long-term potential. Featuring two separate tax ID parcels, the property includes a single-family home situated on 1.23 acres and a 3,900 sq ft building on 2.04 acres that was formerly used as a greenhouse. The expansive building offers tremendous possibilities for storage, workshop space, hobby farming, light commercial use, or redevelopment. With nearly 4,000 square feet at your disposal, it offers ample room for equipment, business operations, or creative repurposing. The structure is solid, but it will require a new roof to be functional. While it is assessed as commercial property, any new business initiative will need to obtain approval from the City of Marlette, as it has been a while since the last operation took place. The single-family home is already tenant-occupied, with a reliable tenant who has been in place for several years - making this an excellent turnkey investment opportunity with immediate rental income. Both parcels are connected by a shared driveway, offering convenient access while maintaining the flexibility of two distinct properties. Take advantage of the land and the large outbuilding, as this property presents rare versatility and value. Don't miss this one-of-a-kind property with income potential and room to grow!

Key facts

• 3.27 acre lot
• Community pool
• Built 1972

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $138k.

Deal economics

• At list price, monthly cash flow is $14 ($172/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $107k (22.5% below list).
• Recommended offer: $107k (22.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 62/100 on livability (#533 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Marlette Community Schools (rural): math 38% / reading 55% proficiency, ranked #142 of 540 in MI (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Marlette Elementary (math 37% / reading 52%, grade F, #484 of 1,397 statewide, top 38%, 349 students, 65% FRL); Marlette Jrsr High School (math 37% / reading 62%, grade D, #154 of 713 statewide, top 25%, 367 students, 59% FRL) — zoned schools average 62% FRL vs 47% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 22 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 63 units permitted in Sanilac County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $951 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Sanilac County population projected at -31% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($125k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Recommended offer $106,622 (22.5% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.78% ✗
• Cap rate: 6.42%
• Cash-on-cash: 0.45%
• DSCR: 1.02
• GRM: 10.7

CMA / ARV

• ARV (median comp): $152,826
• List price: $137,500
• Delta: -10.03%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3185 Wilson St	0.39mi	3/2.0	1,227 (+2%)	5mo	$76,000	$62	70
2820 Angle St	0.45mi	3/2.0	1,250 (+4%)	7mo	$235,000	$188	62
6210 Marlette St	0.06mi	3/2.0	1,040 (-13%)	15mo	$168,480	$162	58
6405 Locust St	0.64mi	3/1.5	1,145 (-5%)	5mo	$150,000	$131	56
6492 Chard St	0.46mi	3/1.0	1,076 (-10%)	8mo	$119,000	$111	55
6377 Chard St	0.30mi	3/1.0	1,045 (-13%)	13mo	$90,000	$86	54
6487 Ellsworth St	0.43mi	2/1.0 (-1)	1,100 (-8%)	20mo	$45,000	$41	44
6590 Storey Dr	0.57mi	3/2.0	1,142 (-5%)	22mo	$168,000	$147	43

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: -15.6%
• Equity multiple: 0.44×
• Total profit: $-21,425
• Equity at exit: $20,502

10-year hold

• IRR: -7.3%
• Equity multiple: 0.54×
• Total profit: $-17,718
• Equity at exit: $11,888

Cash invested: $38,500 (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 48453

• Home prices YoY: -20.0%
• Active inventory: 22
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,066 medium
• Mortgage (P&I): −$721
• Tax from tax record: −$50 /mo · $595/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $14

Break-even live

Break-even rent $1,048

Max offer price $137,500

Occupancy floor 94%

Sensitivity live

Price	-10% $92	-5% $53	+0% $14	+5% $-25	+10% $-63
Rent	-10% $-70	-5% $-28	+0% $14	+5% $56	+10% $99
Rate	-1.0pp $84	-0.5pp $49	base $14	+0.5pp $-21	+1.0pp $-58

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: $34,375
• Closing costs: $4,125
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6525 W Marlette Rd Unit B upper Marlette, MI	3.0	1.0	980	$1,150	$1.17	0d	1	0.51mi
2900 Ayre St Unit C19 Marlette, MI	2.0	1.0	770	$900	$1.17	0d	1	0.79mi

Listing history 23 events

1. 2026-06-22
   days on market $137,500 Active 97 DOM
2. 2026-06-21
   days on market $137,500 Active 96 DOM
3. 2026-06-21
   days on market $137,500 Active 95 DOM
4. 2026-06-18
   days on market $137,500 Active 93 DOM
5. 2026-06-17
   days on market $137,500 Active 92 DOM
6. 2026-06-16
   days on market $137,500 Active 91 DOM
7. 2026-06-15
   days on market $137,500 Active 90 DOM
8. 2026-06-13
   days on market $137,500 Active 88 DOM
9. 2026-06-12
   days on market $137,500 Active 87 DOM
10. 2026-06-09
    days on market $137,500 Active 84 DOM
11. 2026-06-08
    days on market $137,500 Active 83 DOM
12. 2026-06-07
    days on market $137,500 Active 82 DOM
13. 2026-06-07
    days on market $137,500 Active 81 DOM
14. 2026-06-04
    days on market $137,500 Active 78 DOM
15. 2026-06-02
    days on market $137,500 Active 77 DOM
16. 2026-06-01
    days on market $137,500 Active 76 DOM
17. 2026-05-31
    days on market $137,500 Active 75 DOM
18. 2026-05-31
    days on market $137,500 Active 74 DOM
19. 2026-05-16
    price $137,500 1459-char remark

    Show marketing remark (1470 chars)

    Spacious Opportunity with Home, Large Outbuilding & Income Potential! This unique property offers incredible flexibility for investors, entrepreneurs, or anyone looking for extra space and long-term potential. Featuring two separate tax ID parcels, the property includes a single-family home situated on 1.23 acres and a 3,900 sq ft building on 2.04 acres that was formerly used as a greenhouse. The expansive building offers tremendous possibilities for storage, workshop space, hobby farming, light commercial use, or redevelopment. With nearly 4,000 square feet at your disposal, it offers ample room for equipment, business operations, or creative repurposing. The structure is solid, but it will require a new roof to be functional. While it is assessed as commercial property, any new business initiative will need to obtain approval from the City of Marlette, as it has been a while since the last operation took place. The single-family home is already tenant-occupied, with a reliable tenant who has been in place for several years—making this an excellent turnkey investment opportunity with immediate rental income. Both parcels are connected by a shared driveway, offering convenient access while maintaining the flexibility of two distinct properties. Take advantage of the land and the large outbuilding, as this property presents rare versatility and value. Don’t miss this one-of-a-kind property with income potential and room to grow!

20. 2026-05-16
    price $137,500 1470-char remark

    Show marketing remark (1470 chars)

    Spacious Opportunity with Home, Large Outbuilding & Income Potential! This unique property offers incredible flexibility for investors, entrepreneurs, or anyone looking for extra space and long-term potential. Featuring two separate tax ID parcels, the property includes a single-family home situated on 1.23 acres and a 3,900 sq ft building on 2.04 acres that was formerly used as a greenhouse. The expansive building offers tremendous possibilities for storage, workshop space, hobby farming, light commercial use, or redevelopment. With nearly 4,000 square feet at your disposal, it offers ample room for equipment, business operations, or creative repurposing. The structure is solid, but it will require a new roof to be functional. While it is assessed as commercial property, any new business initiative will need to obtain approval from the City of Marlette, as it has been a while since the last operation took place. The single-family home is already tenant-occupied, with a reliable tenant who has been in place for several years—making this an excellent turnkey investment opportunity with immediate rental income. Both parcels are connected by a shared driveway, offering convenient access while maintaining the flexibility of two distinct properties. Take advantage of the land and the large outbuilding, as this property presents rare versatility and value. Don’t miss this one-of-a-kind property with income potential and room to grow!

21. 2026-03-18
    listed $143,500 Active 1459-char remark

    Show marketing remark (1470 chars)

    Spacious Opportunity with Home, Large Outbuilding & Income Potential! This unique property offers incredible flexibility for investors, entrepreneurs, or anyone looking for extra space and long-term potential. Featuring two separate tax ID parcels, the property includes a single-family home situated on 1.23 acres and a 3,900 sq ft building on 2.04 acres that was formerly used as a greenhouse. The expansive building offers tremendous possibilities for storage, workshop space, hobby farming, light commercial use, or redevelopment. With nearly 4,000 square feet at your disposal, it offers ample room for equipment, business operations, or creative repurposing. The structure is solid, but it will require a new roof to be functional. While it is assessed as commercial property, any new business initiative will need to obtain approval from the City of Marlette, as it has been a while since the last operation took place. The single-family home is already tenant-occupied, with a reliable tenant who has been in place for several years—making this an excellent turnkey investment opportunity with immediate rental income. Both parcels are connected by a shared driveway, offering convenient access while maintaining the flexibility of two distinct properties. Take advantage of the land and the large outbuilding, as this property presents rare versatility and value. Don’t miss this one-of-a-kind property with income potential and room to grow!

22. 2026-03-18
    listed $143,500 Active 1470-char remark

    Show marketing remark (1470 chars)

    Spacious Opportunity with Home, Large Outbuilding & Income Potential! This unique property offers incredible flexibility for investors, entrepreneurs, or anyone looking for extra space and long-term potential. Featuring two separate tax ID parcels, the property includes a single-family home situated on 1.23 acres and a 3,900 sq ft building on 2.04 acres that was formerly used as a greenhouse. The expansive building offers tremendous possibilities for storage, workshop space, hobby farming, light commercial use, or redevelopment. With nearly 4,000 square feet at your disposal, it offers ample room for equipment, business operations, or creative repurposing. The structure is solid, but it will require a new roof to be functional. While it is assessed as commercial property, any new business initiative will need to obtain approval from the City of Marlette, as it has been a while since the last operation took place. The single-family home is already tenant-occupied, with a reliable tenant who has been in place for several years—making this an excellent turnkey investment opportunity with immediate rental income. Both parcels are connected by a shared driveway, offering convenient access while maintaining the flexibility of two distinct properties. Take advantage of the land and the large outbuilding, as this property presents rare versatility and value. Don’t miss this one-of-a-kind property with income potential and room to grow!

23. 2026-03-13
    historical $143,500 1459-char remark

    Show marketing remark (1459 chars)

    Spacious Opportunity with Home, Large Outbuilding & Income Potential! This unique property offers incredible flexibility for investors, entrepreneurs, or anyone looking for extra space and long-term potential. Featuring two separate tax ID parcels, the property includes a single-family home situated on 1.23 acres and a 3,900 sq ft building on 2.04 acres that was formerly used as a greenhouse. The expansive building offers tremendous possibilities for storage, workshop space, hobby farming, light commercial use, or redevelopment. With nearly 4,000 square feet at your disposal, it offers ample room for equipment, business operations, or creative repurposing. The structure is solid, but it will require a new roof to be functional. While it is assessed as commercial property, any new business initiative will need to obtain approval from the City of Marlette, as it has been a while since the last operation took place. The single-family home is already tenant-occupied, with a reliable tenant who has been in place for several years - making this an excellent turnkey investment opportunity with immediate rental income. Both parcels are connected by a shared driveway, offering convenient access while maintaining the flexibility of two distinct properties. Take advantage of the land and the large outbuilding, as this property presents rare versatility and value. Don't miss this one-of-a-kind property with income potential and room to grow!

ⓘ 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: $595 · $50/mo
• Projected year-2 tax: $1,356 · $113/mo
• Expected delta: +$761/yr (+$63/mo · 127.9%)

ⓘ 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 1/10 Low 7 d/yr ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,795
• − Mortgage interest: −$7,702
• − Property taxes: −$595
• − Insurance: −$688
• − Repairs & maintenance: −$1,024
• − Management: −$1,024
• − Depreciation: −$4,000
• Taxable loss: −$2,237
• Est. tax savings @ 24.0%: +$537
• After-tax cash flow: $709/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: Marlette Community Schools
• NCES district ID: 2622860
• Math proficiency: 38% ▼ -4.00%
• Reading proficiency: 55% ▼ -2.00%
• Median HH income: $40,389
• Composite: 38.9/100
• National rank: #4095
• State rank: #142 of 540 in MI

Livability — Marlette

• Score: 62/100
• State rank: #533
• US rank: #16177

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marlette, MI
• Population (ZIP): 4,797

Population outlook (Sanilac County) Hauer SSP2

• Today (2025): 37,948 people
• By 2030: 35,772 · -5.7%
• By 2040: 30,996 · -18.3%
• By 2050: 26,280 · -30.7%
• By 2075: 17,471 · -54.0%
• By 2100: 10,572 · -72.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 8% Slovak 5% Lithuanian 3%
• Foreign-born: 2% · Canada, South Korea
• Languages at home: 96% English-only · German/W. Germanic 2% Spanish 1%

Political lean MEDSL · Sanilac

• 2024 margin: Solid R (+47.7) · D 25.5% · R 73.2% · Other 1.3%
• 2008→2024 swing: -39.6pp toward R · 2008: -8.1pp · 2024: -47.7pp
• All cycles: 2024: R+47.7 2020: R+45.6 2016: R+44.5 2012: R+20.4 2008: R+8.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -39.95%
• Current HPI: 159.7586
• Rent YoY: —
• Metro: —
• 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

-4.2% since first listed

5 events — show timeline

• 2026-05-16 Price Changed $137,500 MiRealSource-MiMLS
• 2026-05-16 Price Changed $137,500 REALCOMP
• 2026-03-18 Listed $143,500 MiRealSource-MiMLS
• 2026-03-18 Listed $143,500 REALCOMP
• 2026-03-13 Coming Soon $143,500 MiRealSource-MiMLS

Property tax history

-6.1%/yr

Latest (2025): $595 · -50.7% YoY. Source: county tax records.