215 W Ainsworth St · Ypsilanti, MI 48197

$124,000

3 bd · 1.5 ba · 800 sqft · SingleFamily public records · 32 Days on market

Built 1949 6,098 sqft lot Est $182k · 32% under

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Why this score? — see what drove the C+ 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 +22.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.1/10.0
• 1% rule +5.9/10.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming bungalow offering 2 bedrooms plus an additional office space. Home features vinyl windows, aluminum siding, a detached 1-car garage, and a slab foundation with no reported issues. Interior is dated but in overall decent condition, with an updated tiled bathroom and functional layout. Upper-level bungalow area provides additional storage or flex space, accessed by a narrow stairway. Mechanical updates include a furnace estimated at 10-15 years old and an A/C unit estimated around 20 years. Home is being sold as-is,

Key facts

• Slab foundation
• Office space
• Vinyl windows

Tags

• OFFICE SPACE
• VINYL WINDOWS
• ALUMINUM SIDING
• SLAB FOUNDATION
• UPDATED TILED BATHROOM
• FUNCTIONAL LAYOUT

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $124k.

Deal economics

• At list price, monthly cash flow is $202 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $124k).
• Recommended offer: $120k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 4.0% 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 (+3.4%/yr); 239 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 996 units permitted in Washtenaw County in 2024 (492 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $857 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.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($120k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 17y 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.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $120,280 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.09% ✓
• Cap rate: 8.25%
• Cash-on-cash: 6.97%
• DSCR: 1.31
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $182,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
457 Ainsworth Cir	0.12mi	3/1.0	768 (-4%)	2mo	$188,000	$245	84
412 Ainsworth Cir	0.12mi	2/1.0 (-1)	768 (-4%)	7mo	$174,900	$228	75
435 Ainsworth Cir	0.18mi	3/1.0	768 (-4%)	12mo	$194,500	$253	73
436 Ainsworth Cir	0.21mi	2/1.0 (-1)	872 (+9%)	1mo	$145,000	$166	67
350 Orchard St	0.19mi	2/1.0 (-1)	750 (-6%)	22mo	$139,000	$185	55
544 Monroe Ave	0.37mi	2/1.0 (-1)	700 (-12%)	1mo	$125,000	$179	54
432 Ainsworth Cir	0.20mi	2/1.5 (-1)	882 (+10%)	18mo	$200,000	$227	54
429 Ainsworth Cir	0.17mi	2/1.0 (-1)	700 (-12%)	13mo	$181,900	$260	53
827 Jefferson St	0.53mi	3/1.0	768 (-4%)	20mo	$175,000	$228	50
338 Worden St	0.14mi	2/1.0 (-1)	696 (-13%)	20mo	$130,000	$187	48
938 Jefferson St	0.56mi	2/1.0 (-1)	701 (-12%)	0mo	$189,900	$271	46
173 Elder St	0.55mi	2/1.0 (-1)	864 (+8%)	17mo	$186,500	$216	40

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 · 3.36% rent growth · sell at horizon

5-year hold

• IRR: -5.2%
• Equity multiple: 0.81×
• Total profit: $-6,724
• Equity at exit: $18,489

10-year hold

• IRR: 4.9%
• Equity multiple: 1.37×
• Total profit: $12,838
• Equity at exit: $10,721

Cash invested: $34,720 (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 48197

• Rents YoY: 3.4%
• Active inventory: 239
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,354 high
• Mortgage (P&I): −$650
• Tax from tax record: −$166 /mo · $1,995/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $202

Break-even live

Break-even rent $1,099

Max offer price $124,000

Occupancy floor 80%

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: $31,000
• Closing costs: $3,720
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
727 W Michigan Ave Ypsilanti, MI	2.0	1.0	592	$1,365	$2.31	44d	1	0.15mi
701 Pearl St Ypsilanti, MI	2.0	1.0	700	$1,100	$1.57	44d	1	0.34mi
212 Ferris St Unit 214 Ypsilanti, MI	2.0	1.0	1016	$1,400	$1.38	17d	1	0.35mi
212 Ferris St Unit 212 Ypsilanti, MI	2.0	1.0	840	$1,300	$1.55	17d	1	0.35mi
417 Pearl St Ypsilanti, MI	2.0	1.0	680	$1,090	$1.60	18d	1	0.36mi
206 S Huron St Ypsilanti, MI	2.0	1.0	650	$1,240	$1.91	44d	1	0.40mi
1117 Lathers Ave Unit 15 Ypsilanti, MI	2.0	1.0	850	$1,225	$1.44	15d	1	0.46mi
512 Washtenaw Ave Ypsilanti, MI	2.0	1.0	800	$1,100	$1.38	44d	1	0.48mi
2 N Huron St Unit 4-1 Ypsilanti, MI	3.0	1.0	800	$1,840	$2.30	44d	1	0.51mi
421 Emmet St Ypsilanti, MI	3.0	2.0	676	$1,400	$2.07	18d	1	0.53mi
125 Bell St Unit b Ypsilanti, MI	2.0	1.0	812	$1,100	$1.35	24d	1	0.54mi
422 N Hamilton St Unit 2 Ypsilanti, MI	2.0	1.0	950	$1,100	$1.16	20d	1	0.71mi
422 N Hamilton St Unit 2 Ypsilanti, MI	2.0	1.0	950	$1,100	$1.16	44d	1	0.71mi
509 W Forest Ave Unit 210 Ypsilanti, MI	2.0	1.0	785	$1,250	$1.59	44d	1	0.73mi
410 Olive St Unit 2 Ypsilanti, MI	3.0	1.0	872	$1,349	$1.55	24d	1	0.75mi
1305 S Congress St Ypsilanti, MI	2.0	1.0	800	$1,175	$1.47	13d	1	0.78mi
1305 S Congress St Ypsilanti, MI	2.0	1.0	800	$1,175	$1.47	44d	1	0.78mi
212 Stevens Dr Ypsilanti, MI	1.0–2.0	1.0	693	$1,359	$1.96	44d	1	0.87mi
329 Jarvis St Ypsilanti, MI	1.0–2.0	1.0	1000	$1,295	$1.29	44d	5	0.90mi
1304 Washtenaw Rd Ypsilanti, MI	3.0	1.0	946	$1,400	$1.48	18d	1	0.99mi
219 N Prospect Rd Unit 2 Ypsilanti, MI	2.0	1.0	800	$1,200	$1.50	44d	1	1.04mi
208 N Prospect Rd Ypsilanti, MI	2.0	1.0	750	$1,200	$1.60	44d	1	1.07mi
1616 Washtenaw Rd Ypsilanti, MI	2.0	1.5	1006	$1,850	$1.84	24d	1	1.16mi
232 Miles St Ypsilanti, MI	2.0	1.0	696	$1,400	$2.01	5d	1	1.16mi
1000 N Huron River Dr Ypsilanti, MI	1.0–4.0	1.0–4.0	937	$1,962	$2.09	2d	1	1.30mi
669 Woburn Dr Ypsilanti, MI	1.0–3.0	1.0–2.0	911	$1,600	$1.76	44d	1	1.31mi
1932 Washtenaw Ave Ypsilanti, MI	2.0	2.0	980	$1,250	$1.28	44d	1	1.37mi
799 Green Rd Ypsilanti, MI	1.0–2.0	1.0–1.5	787	$1,350	$1.71	3d	28	1.46mi

Listing history 14 events

1. 2026-02-12
   soldstatus $125,100
2. 2026-01-06
   status Pending 528-char remark

   Show marketing remark (528 chars)

   Charming bungalow offering 2 bedrooms plus an additional office space. Home features vinyl windows, aluminum siding, a detached 1-car garage, and a slab foundation with no reported issues. Interior is dated but in overall decent condition, with an updated tiled bathroom and functional layout. Upper-level bungalow area provides additional storage or flex space, accessed by a narrow stairway. Mechanical updates include a furnace estimated at 10-15 years old and an A/C unit estimated around 20 years. Home is being sold as-is,

3. 2026-01-06
   status Pending

   Show marketing remark (528 chars)

   Charming bungalow offering 2 bedrooms plus an additional office space. Home features vinyl windows, aluminum siding, a detached 1-car garage, and a slab foundation with no reported issues. Interior is dated but in overall decent condition, with an updated tiled bathroom and functional layout. Upper-level bungalow area provides additional storage or flex space, accessed by a narrow stairway. Mechanical updates include a furnace estimated at 10-15 years old and an A/C unit estimated around 20 years. Home is being sold as-is,

4. 2025-12-18
   price $124,000 528-char remark

   Show marketing remark (528 chars)

   Charming bungalow offering 2 bedrooms plus an additional office space. Home features vinyl windows, aluminum siding, a detached 1-car garage, and a slab foundation with no reported issues. Interior is dated but in overall decent condition, with an updated tiled bathroom and functional layout. Upper-level bungalow area provides additional storage or flex space, accessed by a narrow stairway. Mechanical updates include a furnace estimated at 10-15 years old and an A/C unit estimated around 20 years. Home is being sold as-is,

5. 2025-12-17
   price $124,000
6. 2025-12-05
   listed $129,000 Active

   Show marketing remark (528 chars)

   Charming bungalow offering 2 bedrooms plus an additional office space. Home features vinyl windows, aluminum siding, a detached 1-car garage, and a slab foundation with no reported issues. Interior is dated but in overall decent condition, with an updated tiled bathroom and functional layout. Upper-level bungalow area provides additional storage or flex space, accessed by a narrow stairway. Mechanical updates include a furnace estimated at 10-15 years old and an A/C unit estimated around 20 years. Home is being sold as-is,

7. 2025-12-05
   listed $129,000 Active 528-char remark

   Show marketing remark (528 chars)

   Charming bungalow offering 2 bedrooms plus an additional office space. Home features vinyl windows, aluminum siding, a detached 1-car garage, and a slab foundation with no reported issues. Interior is dated but in overall decent condition, with an updated tiled bathroom and functional layout. Upper-level bungalow area provides additional storage or flex space, accessed by a narrow stairway. Mechanical updates include a furnace estimated at 10-15 years old and an A/C unit estimated around 20 years. Home is being sold as-is,

8. 2010-05-26
   soldstatus $15,000 79-char remark

   Show marketing remark (79 chars)

   3 BEDROOM HOME IN YPSILANTI SCHOOLS WITH CENTRAL AIR AND 1 CAR DETACHED GARAGE.

9. 2010-03-12
   listed $18,500 79-char remark

   Show marketing remark (79 chars)

   3 BEDROOM HOME IN YPSILANTI SCHOOLS WITH CENTRAL AIR AND 1 CAR DETACHED GARAGE.

10. 2010-03-11
    historical
11. 2010-02-20
    historical
12. 2009-12-21
    listed $7,900
13. 2009-11-18
    listed $7,900
14. 2005-02-04
    soldstatus $69,000

ⓘ 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: $1,995 · $166/mo
• Projected year-2 tax: $1,995 · $166/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 2/10 Low
• 🌡 Heat 3/10 Moderate 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: $16,252
• − Mortgage interest: −$6,946
• − Property taxes: −$1,995
• − Insurance: −$620
• − Repairs & maintenance: −$1,300
• − Management: −$1,300
• − Depreciation: −$3,607
• Taxable income: $484
• Est. tax owed @ 24.0%: −$116
• After-tax cash flow: $2,305/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

• Census place: Ypsilanti, MI
• County: Washtenaw County · 306,860 people
• City population: 105,769
• Metro: Ann Arbor, MI
• Population (ZIP): 66,525
• Household income: $73,737
• Rent vs Own: 46.1% rent · 53.9% own
• Severe rent burden: 3134.0

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 0.62)
• Race & ethnicity: White 57% Black 23% Two or more races 9% Hispanic / Latino 8% Asian 6%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 5% Slovak 3% Lithuanian 3%
• Foreign-born: 12% · Canada, China, Vietnam
• Languages at home: 84% English-only · Spanish 4% Other Indo-European 3% Arabic 3%

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: ▼ -223.94%
• Current HPI: 217.0173
• Rent YoY: ▲ 3.36%
• 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

+81.3% since first listed

14 events — show timeline

• 2026-02-12 Sold (Public Records) $125,100 Public Records
• 2026-01-06 Pending — MiRealSource-MiMLS
• 2026-01-06 Pending — REALCOMP
• 2025-12-18 Price Changed $124,000 MiRealSource-MiMLS
• 2025-12-17 Price Changed $124,000 REALCOMP
• 2025-12-05 Listed $129,000 REALCOMP
• 2025-12-05 Listed $129,000 MiRealSource-MiMLS
• 2010-05-26 Sold (MLS) $15,000 REALCOMP
• 2010-03-12 Listed $18,500 REALCOMP
• 2010-03-11 Listing Removed — REALCOMP
• 2010-02-20 Listing Removed — MiRealSource-MiMLS
• 2009-12-21 Listed $7,900 MiRealSource-MiMLS
• 2009-11-18 Listed $7,900 REALCOMP
• 2005-02-04 Sold (Public Records) $69,000 Public Records

Property tax history

+0.6%/yr

Latest (2025): $1,995 · -4.8% YoY. Source: county tax records.