1580 Liberty St · Lapeer, MI 48446

$169,900

4 bd · 3.0 ba · 1,796 sqft · SingleFamily · 181 Days on market

Built 1880 0.51 ac lot $95/sqft · 25% below area Est $226k · 25% 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 +16.7/30.0
• ARV discount +15.0/15.0
• 1% rule +5.4/10.0
• DSCR +5.2/10.0
• Livability +3.6/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 4-bedroom, 3-bath property is a value-add opportunity priced for renovation. The home needs updates throughout and is being sold as-is, making it ideal for experienced investors, flippers, or contractors looking to capitalize on strong upside potential. With a spacious floor plan, large room sizes, and solid structural footprint, the layout supports modern reconfiguration and high resale value. The oversized yard adds additional appeal for future buyers seeking outdoor living space. Located close to shopping, dining, schools, and major amenities, the area supports strong after-repair values (ARV).

Key facts

• 0.51 acre lot
• Built 1880
• Listed 180 days

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $106 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $150k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.0% vs local median 3.6% in Lapeer — 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 72/100 on livability (#231 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: schools D+, employment D, commute F.
• Lapeer Community Schools (town): math 31% / reading 49% proficiency, ranked #202 of 540 in MI (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 186 active listings in the ZIP; 152 units permitted in Lapeer County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($66k/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 $5k of value loss. Plan a longer hold.
• Lapeer County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 181 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 25y ago; this cycle's ask has dropped $20k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $149,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 181 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — 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. 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?
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: 1.04% ✓
• Cap rate: 7.04%
• Cash-on-cash: 2.67%
• DSCR: 1.12
• GRM: 8.0

CMA / ARV

• ARV (median comp): $226,167
• List price: $169,900
• Delta: -24.88%
• 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
1615 W Genesee St	0.19mi	4/1.5	1,740 (-3%)	6mo	$203,000	$117	75
1111 W Park St	0.22mi	5/1.5 (+1)	1,682 (-6%)	1mo	$210,000	$125	67
835 N Main St	0.37mi	3/3.5 (-1)	1,750 (-3%)	8mo	$275,000	$157	65
1331 W Genesee St	0.23mi	4/2.0	1,955 (+9%)	7mo	$193,000	$99	65
1226 W Genesee St	0.23mi	4/2.0	1,650 (-8%)	11mo	$163,500	$99	62
1340 W Genesee St	0.20mi	3/2.0 (-1)	1,984 (+10%)	6mo	$225,000	$113	59
847 N Main St	0.38mi	4/2.0	1,620 (-10%)	7mo	$221,000	$136	56
1533 Pleasant St	0.26mi	4/2.5	2,044 (+14%)	8mo	$310,000	$152	56
258 Riviera Dr	0.66mi	3/2.0 (-1)	1,792 (-0%)	8mo	$223,750	$125	53
2776 Naples Ct	0.66mi	3/2.0 (-1)	1,792 (-0%)	11mo	$223,400	$125	51
745 N Calhoun St	0.51mi	4/1.0	1,600 (-11%)	6mo	$195,000	$122	45
2764 Naples Ct	0.66mi	3/2.0 (-1)	1,568 (-13%)	13mo	$217,500	$139	28

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: -12.0%
• Equity multiple: 0.56×
• Total profit: $-20,700
• Equity at exit: $25,333

10-year hold

• IRR: -2.8%
• Equity multiple: 0.81×
• Total profit: $-8,957
• Equity at exit: $14,690

Cash invested: $47,572 (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 48446

• Active inventory: 186
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,768 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$329 /mo · $3,951/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $106

Break-even live

Break-even rent $1,634

Max offer price $169,900

Occupancy floor 89%

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 36 events

1. 2026-06-18
   days on market $169,900 Active 181 DOM
2. 2026-06-17
   days on market $169,900 Active 180 DOM
3. 2026-06-16
   days on market $169,900 Active 179 DOM
4. 2026-06-15
   days on market $169,900 Active 178 DOM
5. 2026-06-13
   days on market $169,900 Active 176 DOM
6. 2026-06-09
   days on market $169,900 Active 172 DOM
7. 2026-06-08
   days on market $169,900 Active 171 DOM
8. 2026-06-07
   days on market $169,900 Active 170 DOM
9. 2026-06-04
   days on market $169,900 Active 167 DOM
10. 2026-06-03
    days on market $169,900 Active 166 DOM
11. 2026-06-02
    days on market $169,900 Active 165 DOM
12. 2026-06-01
    days on market $169,900 Active 164 DOM
13. 2026-05-31
    days on market $169,900 Active 163 DOM
14. 2026-03-18
    price $169,900 609-char remark

    Show marketing remark (609 chars)

    This 4-bedroom, 3-bath property is a value-add opportunity priced for renovation. The home needs updates throughout and is being sold as-is, making it ideal for experienced investors, flippers, or contractors looking to capitalize on strong upside potential. With a spacious floor plan, large room sizes, and solid structural footprint, the layout supports modern reconfiguration and high resale value. The oversized yard adds additional appeal for future buyers seeking outdoor living space. Located close to shopping, dining, schools, and major amenities, the area supports strong after-repair values (ARV).

15. 2026-03-18
    price $169,900 609-char remark

    Show marketing remark (609 chars)

    This 4-bedroom, 3-bath property is a value-add opportunity priced for renovation. The home needs updates throughout and is being sold as-is, making it ideal for experienced investors, flippers, or contractors looking to capitalize on strong upside potential. With a spacious floor plan, large room sizes, and solid structural footprint, the layout supports modern reconfiguration and high resale value. The oversized yard adds additional appeal for future buyers seeking outdoor living space. Located close to shopping, dining, schools, and major amenities, the area supports strong after-repair values (ARV).

16. 2026-03-02
    price $179,900 609-char remark

    Show marketing remark (609 chars)

    This 4-bedroom, 3-bath property is a value-add opportunity priced for renovation. The home needs updates throughout and is being sold as-is, making it ideal for experienced investors, flippers, or contractors looking to capitalize on strong upside potential. With a spacious floor plan, large room sizes, and solid structural footprint, the layout supports modern reconfiguration and high resale value. The oversized yard adds additional appeal for future buyers seeking outdoor living space. Located close to shopping, dining, schools, and major amenities, the area supports strong after-repair values (ARV).

17. 2026-03-02
    price $179,900 609-char remark

    Show marketing remark (609 chars)

    This 4-bedroom, 3-bath property is a value-add opportunity priced for renovation. The home needs updates throughout and is being sold as-is, making it ideal for experienced investors, flippers, or contractors looking to capitalize on strong upside potential. With a spacious floor plan, large room sizes, and solid structural footprint, the layout supports modern reconfiguration and high resale value. The oversized yard adds additional appeal for future buyers seeking outdoor living space. Located close to shopping, dining, schools, and major amenities, the area supports strong after-repair values (ARV).

18. 2025-12-20
    listed $190,000 Active 609-char remark

    Show marketing remark (609 chars)

    This 4-bedroom, 3-bath property is a value-add opportunity priced for renovation. The home needs updates throughout and is being sold as-is, making it ideal for experienced investors, flippers, or contractors looking to capitalize on strong upside potential. With a spacious floor plan, large room sizes, and solid structural footprint, the layout supports modern reconfiguration and high resale value. The oversized yard adds additional appeal for future buyers seeking outdoor living space. Located close to shopping, dining, schools, and major amenities, the area supports strong after-repair values (ARV).

19. 2025-12-20
    listed $190,000 Active 609-char remark

    Show marketing remark (609 chars)

    This 4-bedroom, 3-bath property is a value-add opportunity priced for renovation. The home needs updates throughout and is being sold as-is, making it ideal for experienced investors, flippers, or contractors looking to capitalize on strong upside potential. With a spacious floor plan, large room sizes, and solid structural footprint, the layout supports modern reconfiguration and high resale value. The oversized yard adds additional appeal for future buyers seeking outdoor living space. Located close to shopping, dining, schools, and major amenities, the area supports strong after-repair values (ARV).

20. 2025-12-18
    historical $190,000 609-char remark

    Show marketing remark (609 chars)

    This 4-bedroom, 3-bath property is a value-add opportunity priced for renovation. The home needs updates throughout and is being sold as-is, making it ideal for experienced investors, flippers, or contractors looking to capitalize on strong upside potential. With a spacious floor plan, large room sizes, and solid structural footprint, the layout supports modern reconfiguration and high resale value. The oversized yard adds additional appeal for future buyers seeking outdoor living space. Located close to shopping, dining, schools, and major amenities, the area supports strong after-repair values (ARV).

21. 2025-01-02
    soldstatus $165,090
22. 2024-12-30
    soldstatus $165,090 Closed
23. 2024-12-30
    soldstatus $165,090 Closed
24. 2024-12-05
    status Pending
25. 2024-12-05
    historical
26. 2024-11-17
    price $174,900
27. 2024-11-05
    listed $179,900 Active
28. 2024-11-05
    listed $174,900
29. 2012-04-20
    soldstatus $31,600
30. 2012-04-20
    soldstatus $31,600
31. 2012-03-23
    historical
32. 2012-03-23
    historical
33. 2012-01-09
    listed $30,600
34. 2012-01-09
    listed $30,600
35. 2001-10-29
    soldstatus $110,000
36. 2001-09-10
    listed $110,000

ⓘ 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: $3,951 · $329/mo
• Projected year-2 tax: $3,951 · $329/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 2/10 Low 7 d/yr ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,216
• − Mortgage interest: −$9,517
• − Property taxes: −$3,951
• − Insurance: −$850
• − Repairs & maintenance: −$1,697
• − Management: −$1,697
• − Depreciation: −$4,943
• Taxable loss: −$1,439
• Est. tax savings @ 24.0%: +$345
• After-tax cash flow: $1,614/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: Lapeer Community Schools
• NCES district ID: 2621180
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 49% ▼ -4.00%
• Median HH income: $53,749
• Composite: 34.79/100
• National rank: #5113
• State rank: #202 of 540 in MI

Livability — Lapeer

• Score: 72/100
• State rank: #231
• US rank: #5855

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lapeer, MI
• County: Lapeer County · 30,581 people
• City population: 30,581
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 30,581
• Household income: $66,062
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 908.0

Population outlook (Lapeer County) Hauer SSP2

• Today (2025): 89,826 people
• By 2030: 89,535 · -0.3%
• By 2040: 86,695 · -3.5%
• By 2050: 80,566 · -10.3%
• By 2075: 65,783 · -26.8%
• By 2100: 46,584 · -48.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 6% Hispanic / Latino 3% Black 3%
• Common ancestry: Romanian 6% Lithuanian 4% Slovak 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Lapeer

• 2024 margin: Solid R (+39.8) · D 29.5% · R 69.3% · Other 1.3%
• 2008→2024 swing: -36.8pp toward R · 2008: -3.0pp · 2024: -39.8pp
• All cycles: 2024: R+39.8 2020: R+36.3 2016: R+38.3 2012: R+11.5 2008: R+3.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -243.58%
• Current HPI: 212.3665
• Rent YoY: —
• Metro: Detroit-Warren-Dearborn, 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

+54.5% since first listed

23 events — show timeline

• 2026-03-18 Price Changed $169,900 MiRealSource-MiMLS
• 2026-03-18 Price Changed $169,900 REALCOMP
• 2026-03-02 Price Changed $179,900 MiRealSource-MiMLS
• 2026-03-02 Price Changed $179,900 REALCOMP
• 2025-12-20 Listed $190,000 MiRealSource-MiMLS
• 2025-12-20 Listed $190,000 REALCOMP
• 2025-12-18 Coming Soon $190,000 MiRealSource-MiMLS
• 2025-01-02 Sold (Public Records) $165,090 Public Records
• 2024-12-30 Sold (MLS) $165,090 REALCOMP
• 2024-12-30 Sold (MLS) $165,090 MiRealSource-MiMLS
• 2024-12-05 Pending — MiRealSource-MiMLS
• 2024-12-05 Listing Removed — REALCOMP
• 2024-11-17 Price Changed $174,900 MiRealSource-MiMLS
• 2024-11-05 Listed $174,900 REALCOMP
• 2024-11-05 Listed $179,900 MiRealSource-MiMLS
• 2012-04-20 Sold (MLS) $31,600 MiRealSource-MiMLS
• 2012-04-20 Sold (MLS) $31,600 REALCOMP
• 2012-03-23 Listing Removed — MiRealSource-MiMLS
• 2012-03-23 Listing Removed — REALCOMP
• 2012-01-09 Listed $30,600 MiRealSource-MiMLS
• 2012-01-09 Listed $30,600 REALCOMP
• 2001-10-29 Sold (MLS) $110,000 REALCOMP
• 2001-09-10 Listed $110,000 REALCOMP

Property tax history

+8.2%/yr

Latest (2025): $3,951 · +192.0% YoY. Source: county tax records.