122 E Naldrette St · Durand, MI 48429

$175,000

4 bd · 1.0 ba · 1,488 sqft · SingleFamily public records · 24 Days on market

Built 1955 Est $165k · 6% over

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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 +16.1/30.0
• DSCR +5.0/10.0
• ARV discount +4.8/15.0
• Livability +3.7/5.0
• 1% rule +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move in before Christmas! Just under 1500 sq ft, this home has 4 bedrooms with 2 full bathrooms and a detached garage. You're within walking distance to the park with the newly renovated hocky rink. Call to schedule your showing today!

Key facts

• Master bedroom door
• Insulation added
• Large yard

Tags

• MASTER BEDROOM DOOR
• LARGE YARD
• INSULATION ADDED

Property features AI

Exterior

• Parking: Detached or attached 1-car garage
• Home design: Built in 1955; Single-family property
• Construction: Year built 1955
• Exterior features: Lot approximately 0.26 acres

Interior

• Flooring: Carpet
• Interior features: Carpet flooring in at least some rooms; Pantry

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $89 ($1k/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 $145k (17.1% below list).
• Recommended offer: $145k (17.1% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 5.5% in Durand — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 74/100 on livability (#174 in MI, #4,561 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: employment C-, amenities F, commute F.
• Durand Area Schools (rural): math 17% / reading 38% proficiency, ranked #395 of 540 in MI (top 73%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Robert Kerr School (math 17% / reading 37%, grade F, #923 of 1,397 statewide, top 69%, 348 students, 63% FRL); Durand Middle School (math 16% / reading 38%, grade F, #372 of 493 statewide, top 77%, 276 students, 55% FRL); Durand Area High School (math 24% / reading 44%, grade F, #372 of 713 statewide, top 56%, 425 students, 41% FRL).
• Market conditions: 47 active listings in the ZIP; 74 units permitted in Shiawassee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Shiawassee County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 22y 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 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,022 (17.1% below list)

Questions for the listing agent

1. Built in 1955 — 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. 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?
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: 0.83% ✗
• Cap rate: 6.90%
• Cash-on-cash: 2.17%
• DSCR: 1.10
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $165,168
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
105 W John St	0.19mi	4/2.0	1,456 (-2%)	1mo	$65,000	$45	83
301 N Fitch St	0.65mi	3/1.0 (-1)	1,488 (0%)	4mo	$169,000	$114	61
708 S Gomas Ct	0.12mi	3/2.0 (-1)	1,618 (+9%)	12mo	$185,000	$114	61
310 N Mercer St	0.70mi	4/2.0	1,530 (+3%)	2mo	$169,900	$111	57
111 S Oak St	0.49mi	3/1.0 (-1)	1,600 (+8%)	4mo	$101,100	$63	56
401 Marquette St	0.72mi	3/1.5 (-1)	1,468 (-1%)	2mo	$149,000	$101	56
112 Detroit St	0.56mi	3/2.0 (-1)	1,587 (+7%)	4mo	$208,200	$131	50
400 W Main St	0.60mi	3/2.0 (-1)	1,572 (+6%)	8mo	$140,000	$89	48
400 Mercer	0.73mi	3/1.0 (-1)	1,424 (-4%)	8mo	$165,000	$116	47
102 S Division St	0.72mi	3/2.0 (-1)	1,548 (+4%)	5mo	$179,900	$116	46
205 Marquette St	0.59mi	3/1.0 (-1)	1,317 (-12%)	4mo	$135,000	$103	45
502 Brand St	0.74mi	3/1.0 (-1)	1,328 (-11%)	10mo	$125,000	$94	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: -12.9%
• Equity multiple: 0.54×
• Total profit: $-22,783
• Equity at exit: $26,093

10-year hold

• IRR: -4.0%
• Equity multiple: 0.74×
• Total profit: $-12,861
• Equity at exit: $15,131

Cash invested: $49,000 (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 48429

• Home prices YoY: -34.6%
• Active inventory: 47
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,450 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$66 /mo · $797/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $89

Break-even live

Break-even rent $1,338

Max offer price $175,000

Occupancy floor 89%

Sensitivity live

Price	-10% $188	-5% $138	+0% $89	+5% $39	+10% $-10
Rent	-10% $-26	-5% $31	+0% $89	+5% $146	+10% $203
Rate	-1.0pp $177	-0.5pp $133	base $89	+0.5pp $43	+1.0pp $-3

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-21
   days on market $175,000 Active 24 DOM
2. 2026-06-18
   days on market $175,000 Active 21 DOM
3. 2026-06-17
   days on market $175,000 Active 20 DOM
4. 2026-06-16
   days on market $175,000 Active 19 DOM
5. 2026-06-15
   days on market $175,000 Active 18 DOM
6. 2026-06-14
   days on market $175,000 Active 16 DOM
7. 2026-06-13
   days on market $175,000 Active 15 DOM
8. 2026-06-10
   days on market $175,000 Active 13 DOM
9. 2026-06-09
   days on market $175,000 Active 12 DOM
10. 2026-06-08
    days on market $175,000 Active 11 DOM
11. 2026-06-07
    days on market $175,000 Active 10 DOM
12. 2026-06-05
    days on market $175,000 Active 7 DOM
13. 2026-06-03
    days on market $175,000 Active 6 DOM
14. 2026-06-02
    days on market $175,000 Active 5 DOM
15. 2026-06-01
    days on market $175,000 Active 4 DOM
16. 2026-05-31
    days on market $175,000 Active 3 DOM
17. 2026-05-30
    days on market $175,000 Active 2 DOM
18. 2026-05-28
    listed $175,000 Active
19. 2024-12-26
    soldstatus $170,000
20. 2024-12-13
    soldstatus $170,000 Sold 235-char remark

    Show marketing remark (235 chars)

    Move in before Christmas! Just under 1500 sq ft, this home has 4 bedrooms with 2 full bathrooms and a detached garage. You're within walking distance to the park with the newly renovated hocky rink. Call to schedule your showing today!

21. 2024-12-13
    soldstatus $170,000 Closed 235-char remark

    Show marketing remark (235 chars)

    Move in before Christmas! Just under 1500 sq ft, this home has 4 bedrooms with 2 full bathrooms and a detached garage. You're within walking distance to the park with the newly renovated hocky rink. Call to schedule your showing today!

22. 2024-12-09
    status Pending 235-char remark

    Show marketing remark (235 chars)

    Move in before Christmas! Just under 1500 sq ft, this home has 4 bedrooms with 2 full bathrooms and a detached garage. You're within walking distance to the park with the newly renovated hocky rink. Call to schedule your showing today!

23. 2024-12-09
    status Pending 235-char remark

    Show marketing remark (235 chars)

    Move in before Christmas! Just under 1500 sq ft, this home has 4 bedrooms with 2 full bathrooms and a detached garage. You're within walking distance to the park with the newly renovated hocky rink. Call to schedule your showing today!

24. 2024-11-04
    historical Accepting Backup Offers 235-char remark

    Show marketing remark (235 chars)

    Move in before Christmas! Just under 1500 sq ft, this home has 4 bedrooms with 2 full bathrooms and a detached garage. You're within walking distance to the park with the newly renovated hocky rink. Call to schedule your showing today!

25. 2024-11-04
    historical Accepting Backup Offers 235-char remark

    Show marketing remark (235 chars)

    Move in before Christmas! Just under 1500 sq ft, this home has 4 bedrooms with 2 full bathrooms and a detached garage. You're within walking distance to the park with the newly renovated hocky rink. Call to schedule your showing today!

26. 2024-10-31
    listed $164,900 Active 235-char remark

    Show marketing remark (235 chars)

    Move in before Christmas! Just under 1500 sq ft, this home has 4 bedrooms with 2 full bathrooms and a detached garage. You're within walking distance to the park with the newly renovated hocky rink. Call to schedule your showing today!

27. 2024-10-31
    listed $164,900 Active 235-char remark

    Show marketing remark (235 chars)

    Move in before Christmas! Just under 1500 sq ft, this home has 4 bedrooms with 2 full bathrooms and a detached garage. You're within walking distance to the park with the newly renovated hocky rink. Call to schedule your showing today!

28. 2018-02-05
    soldstatus $95,000
29. 2010-08-08
    soldstatus $21,000
30. 2010-08-08
    soldstatus $21,000
31. 2008-11-07
    listed $30,000
32. 2008-11-07
    listed $30,000
33. 2004-12-12
    historical
34. 2004-06-14
    listed $87,900

ⓘ 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: $797 · $66/mo
• Projected year-2 tax: $1,746 · $145/mo
• Expected delta: +$949/yr (+$79/mo · 119.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $17,403
• − Mortgage interest: −$9,803
• − Property taxes: −$797
• − Insurance: −$875
• − Repairs & maintenance: −$1,392
• − Management: −$1,392
• − Depreciation: −$5,091
• Taxable loss: −$1,947
• Est. tax savings @ 24.0%: +$467
• After-tax cash flow: $1,531/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: Durand Area Schools
• NCES district ID: 2612330
• Math proficiency: 17% ▼ -16.00%
• Reading proficiency: 38% ▼ -14.00%
• Median HH income: $45,999
• Composite: 23.67/100
• National rank: #7838
• State rank: #395 of 540 in MI

Livability — Durand

• Score: 74/100
• State rank: #174
• US rank: #4561

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Durand, MI
• City population: 8,109
• Population (ZIP): 8,109

Population outlook (Shiawassee County) Hauer SSP2

• Today (2025): 64,238 people
• By 2030: 61,434 · -4.4%
• By 2040: 55,054 · -14.3%
• By 2050: 48,426 · -24.6%
• By 2075: 35,995 · -44.0%
• By 2100: 26,678 · -58.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Lithuanian 5% Romanian 3% Slovak 3%
• Foreign-born: 2% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Shiawassee

• 2024 margin: Strong R (+23.1) · D 37.7% · R 60.8% · Other 1.6%
• 2008→2024 swing: -31.7pp toward R · 2008: 8.6pp · 2024: -23.1pp
• All cycles: 2024: R+23.1 2020: R+19.9 2016: R+19.6 2012: D+3.7 2008: D+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -125.89%
• Current HPI: 237.6811
• 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

+99.1% since first listed

17 events — show timeline

• 2026-05-28 Listed $175,000 FSBO.com
• 2024-12-26 Sold (Public Records) $170,000 Public Records
• 2024-12-13 Sold (MLS) $170,000 MiRealSource-MiMLS
• 2024-12-13 Sold (MLS) $170,000 REALCOMP
• 2024-12-09 Pending — REALCOMP
• 2024-12-09 Pending — MiRealSource-MiMLS
• 2024-11-04 Contingent — REALCOMP
• 2024-11-04 Contingent — MiRealSource-MiMLS
• 2024-10-31 Listed $164,900 MiRealSource-MiMLS
• 2024-10-31 Listed $164,900 REALCOMP
• 2018-02-05 Sold (Public Records) $95,000 Public Records
• 2010-08-08 Sold (MLS) $21,000 REALCOMP
• 2010-08-08 Sold (MLS) $21,000 MiRealSource-MiMLS
• 2008-11-07 Listed $30,000 REALCOMP
• 2008-11-07 Listed $30,000 MiRealSource-MiMLS
• 2004-12-12 Listing Removed — REALCOMP
• 2004-06-14 Listed $87,900 REALCOMP

Property tax history

-9.0%/yr

Latest (2024): $797 · +10.1% YoY. Source: county tax records.