5447 Rensselear · Elba, MI 48446

$125,000

3 bd · 2.0 ba · 1,684 sqft · SingleFamily · 66 Days on market

Built 1984 2.20 ac lot $74/sqft · 46% below area Est $230k · 46% under ↓ 11% since listing

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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 +28.7/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Price Adjustment!! Perfect for 203K loan and Great opportunity if you are handy and willing to do some work/ updating!! This 3 bedroom, 2 Full bath home with 2 + car garage on nice lot close to I 69 Could be your next home!! Nice room sizes, LARGE Kitchen, Primary suite and living area. Appears that a few of mechanicals are updated (buyer to verify). Located on a back street with Low traffic. Enjoy the nice kitchen size with newer appliances, loads of storage, pantry and good counter space. Dining room could be used as a home office, family room, there are options here!! HUGE family room. This home offers lots of indoor/ outdoor options. 2 Outbuildings offers lots of choices in outdoor storage Enjoyment, No HOA here. Deck out back overlooking trees. Main floor laundry and utility room. HUGE Primary suite with full bath. This home does need some deferred maintenance Bring your sweat to build equity and make this a fantastic home. This home would be a great candidate for a 203K rehab loan. Irregular lot size. Great lot with room to play, for space or that garden you always wanted! Seller owns the land behind home into the tree line. Public record is not correct, Survey available to view in photos and correct legal in title.

Key facts

• Outdoor storage
• Newer appliances
• Huge family room

Tags

• LARGE KITCHEN
• NEWER APPLIANCES
• LOADS OF STORAGE
• GOOD COUNTER SPACE
• HUGE FAMILY ROOM
• OUTDOOR STORAGE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $415 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $118k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $15k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $117,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.29% ✓
• Cap rate: 10.27%
• Cash-on-cash: 14.22%
• DSCR: 1.63
• GRM: 6.4

CMA / ARV

• ARV (median comp): $229,818
• List price: $125,000
• Delta: -45.61%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5354 Rensselear Dr	0.17mi	4/2.0 (+1)	1,680 (-0%)	8mo	$197,000	$117	80
5455 Monticello Dr	0.40mi	3/2.0	1,456 (-14%)	8mo	$249,000	$171	52
1707 S Elba Rd	0.60mi	3/2.5	1,611 (-4%)	14mo	$355,900	$221	51
1858 Burlington Dr	0.31mi	3/2.0	1,450 (-14%)	15mo	$169,900	$117	50

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: 4.6%
• Equity multiple: 1.18×
• Total profit: $6,180
• Equity at exit: $18,638

10-year hold

• IRR: 14.0%
• Equity multiple: 2.13×
• Total profit: $39,489
• Equity at exit: $10,808

Cash invested: $35,000 (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 48446

• Active inventory: 186
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,618 medium
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $415

Break-even live

Break-even rent $1,093

Max offer price $125,000

Occupancy floor 69%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-17
   status $125,000 Pending 66 DOM
2. 2026-06-17
   days on market $125,000 Active Under Contract 66 DOM
3. 2026-06-16
   days on market $125,000 Active Under Contract 65 DOM
4. 2026-06-15
   days on market $125,000 Active Under Contract 64 DOM
5. 2026-06-13
   days on market $125,000 Active Under Contract 62 DOM
6. 2026-06-09
   days on market $125,000 Active Under Contract 58 DOM
7. 2026-06-08
   days on market $125,000 Active Under Contract 57 DOM
8. 2026-06-07
   days on market $125,000 Active Under Contract 56 DOM
9. 2026-06-04
   days on market $125,000 Active Under Contract 53 DOM
10. 2026-06-03
    days on market $125,000 Active Under Contract 52 DOM
11. 2026-06-02
    days on market $125,000 Active Under Contract 51 DOM
12. 2026-06-01
    days on market $125,000 Active Under Contract 50 DOM
13. 2026-05-31
    days on market $125,000 Active Under Contract 49 DOM
14. 2026-05-11
    price $125,000 1241-char remark

    Show marketing remark (1251 chars)

    Price Adjustment!! Perfect for 203K loan and Great opportunity if you are handy and willing to do some work/ updating!! This 3 bedroom, 2 Full bath home with 2 + car garage on nice lot close to I 69 Could be your next home!! Nice room sizes, LARGE Kitchen, Primary suite and living area. Appears that a few of mechanicals are updated (buyer to verify). Located on a back street with Low traffic. Enjoy the nice kitchen size with newer appliances, loads of storage, pantry and good counter space. Dining room could be used as a home office, family room, there are options here!! HUGE family room. This home offers lots of indoor/ outdoor options. 2 Outbuildings offers lots of choices in outdoor storage Enjoyment, No HOA here. Deck out back overlooking trees. Main floor laundry and utility room. HUGE Primary suite with full bath. This home does need some deferred maintenance Bring your sweat to build equity and make this a fantastic home. This home would be a great candidate for a 203K rehab loan. Irregular lot size. Great lot with room to play, for space or that garden you always wanted! Seller owns the land behind home into the tree line. Public record is not correct, Survey available to view in photos and correct legal in title.

15. 2026-05-11
    price $125,000 1251-char remark

    Show marketing remark (1251 chars)

    Price Adjustment!! Perfect for 203K loan and Great opportunity if you are handy and willing to do some work/ updating!! This 3 bedroom, 2 Full bath home with 2 + car garage on nice lot close to I 69 Could be your next home!! Nice room sizes, LARGE Kitchen, Primary suite and living area. Appears that a few of mechanicals are updated (buyer to verify). Located on a back street with Low traffic. Enjoy the nice kitchen size with newer appliances, loads of storage, pantry and good counter space. Dining room could be used as a home office, family room, there are options here!! HUGE family room. This home offers lots of indoor/ outdoor options. 2 Outbuildings offers lots of choices in outdoor storage Enjoyment, No HOA here. Deck out back overlooking trees. Main floor laundry and utility room. HUGE Primary suite with full bath. This home does need some deferred maintenance Bring your sweat to build equity and make this a fantastic home. This home would be a great candidate for a 203K rehab loan. Irregular lot size. Great lot with room to play, for space or that garden you always wanted! Seller owns the land behind home into the tree line. Public record is not correct, Survey available to view in photos and correct legal in title.

16. 2026-04-23
    status Active 1241-char remark

    Show marketing remark (1251 chars)

    Price Adjustment!! Perfect for 203K loan and Great opportunity if you are handy and willing to do some work/ updating!! This 3 bedroom, 2 Full bath home with 2 + car garage on nice lot close to I 69 Could be your next home!! Nice room sizes, LARGE Kitchen, Primary suite and living area. Appears that a few of mechanicals are updated (buyer to verify). Located on a back street with Low traffic. Enjoy the nice kitchen size with newer appliances, loads of storage, pantry and good counter space. Dining room could be used as a home office, family room, there are options here!! HUGE family room. This home offers lots of indoor/ outdoor options. 2 Outbuildings offers lots of choices in outdoor storage Enjoyment, No HOA here. Deck out back overlooking trees. Main floor laundry and utility room. HUGE Primary suite with full bath. This home does need some deferred maintenance Bring your sweat to build equity and make this a fantastic home. This home would be a great candidate for a 203K rehab loan. Irregular lot size. Great lot with room to play, for space or that garden you always wanted! Seller owns the land behind home into the tree line. Public record is not correct, Survey available to view in photos and correct legal in title.

17. 2026-04-23
    status Active 1251-char remark

    Show marketing remark (1251 chars)

    Price Adjustment!! Perfect for 203K loan and Great opportunity if you are handy and willing to do some work/ updating!! This 3 bedroom, 2 Full bath home with 2 + car garage on nice lot close to I 69 Could be your next home!! Nice room sizes, LARGE Kitchen, Primary suite and living area. Appears that a few of mechanicals are updated (buyer to verify). Located on a back street with Low traffic. Enjoy the nice kitchen size with newer appliances, loads of storage, pantry and good counter space. Dining room could be used as a home office, family room, there are options here!! HUGE family room. This home offers lots of indoor/ outdoor options. 2 Outbuildings offers lots of choices in outdoor storage Enjoyment, No HOA here. Deck out back overlooking trees. Main floor laundry and utility room. HUGE Primary suite with full bath. This home does need some deferred maintenance Bring your sweat to build equity and make this a fantastic home. This home would be a great candidate for a 203K rehab loan. Irregular lot size. Great lot with room to play, for space or that garden you always wanted! Seller owns the land behind home into the tree line. Public record is not correct, Survey available to view in photos and correct legal in title.

18. 2026-04-21
    historical Active Under Contract 1251-char remark

    Show marketing remark (1241 chars)

    Price Adjustment!! Perfect for 203K loan and Great opportunity if you are handy and willing to do some work/ updating!! This 3 bedroom, 2 Full bath home with 2 + car garage on nice lot close to I 69 Could be your next home!! Nice room sizes, LARGE Kitchen, Primary suite and living area. Appears that a few of mechanicals are updated (buyer to verify). Located on a back street with Low traffic. Enjoy the nice kitchen size with newer appliances, loads of storage, pantry and good counter space. Dining room could be used as a home office, family room, there are options here!! HUGE family room. This home offers lots of indoor/ outdoor options. 2 Outbuildings offers lots of choices in outdoor storage Enjoyment, No HOA here. Deck out back overlooking trees. Main floor laundry and utility room. HUGE Primary suite with full bath. This home does need some deferred maintenance Bring your sweat to build equity and make this a fantastic home. This home would be a great candidate for a 203K rehab loan. Irregular lot size. Great lot with room to play, for space or that garden you always wanted! Seller owns the land behind home into the tree line. Public record is not correct, Survey available to view in photos and correct legal in title.

19. 2026-04-21
    historical Accepting Backup Offers 1241-char remark

    Show marketing remark (1241 chars)

    Price Adjustment!! Perfect for 203K loan and Great opportunity if you are handy and willing to do some work/ updating!! This 3 bedroom, 2 Full bath home with 2 + car garage on nice lot close to I 69 Could be your next home!! Nice room sizes, LARGE Kitchen, Primary suite and living area. Appears that a few of mechanicals are updated (buyer to verify). Located on a back street with Low traffic. Enjoy the nice kitchen size with newer appliances, loads of storage, pantry and good counter space. Dining room could be used as a home office, family room, there are options here!! HUGE family room. This home offers lots of indoor/ outdoor options. 2 Outbuildings offers lots of choices in outdoor storage Enjoyment, No HOA here. Deck out back overlooking trees. Main floor laundry and utility room. HUGE Primary suite with full bath. This home does need some deferred maintenance Bring your sweat to build equity and make this a fantastic home. This home would be a great candidate for a 203K rehab loan. Irregular lot size. Great lot with room to play, for space or that garden you always wanted! Seller owns the land behind home into the tree line. Public record is not correct, Survey available to view in photos and correct legal in title.

20. 2026-04-12
    listed $139,900 Active 1251-char remark

    Show marketing remark (1241 chars)

    Price Adjustment!! Perfect for 203K loan and Great opportunity if you are handy and willing to do some work/ updating!! This 3 bedroom, 2 Full bath home with 2 + car garage on nice lot close to I 69 Could be your next home!! Nice room sizes, LARGE Kitchen, Primary suite and living area. Appears that a few of mechanicals are updated (buyer to verify). Located on a back street with Low traffic. Enjoy the nice kitchen size with newer appliances, loads of storage, pantry and good counter space. Dining room could be used as a home office, family room, there are options here!! HUGE family room. This home offers lots of indoor/ outdoor options. 2 Outbuildings offers lots of choices in outdoor storage Enjoyment, No HOA here. Deck out back overlooking trees. Main floor laundry and utility room. HUGE Primary suite with full bath. This home does need some deferred maintenance Bring your sweat to build equity and make this a fantastic home. This home would be a great candidate for a 203K rehab loan. Irregular lot size. Great lot with room to play, for space or that garden you always wanted! Seller owns the land behind home into the tree line. Public record is not correct, Survey available to view in photos and correct legal in title.

21. 2026-04-12
    listed $139,900 Active 1241-char remark

    Show marketing remark (1241 chars)

    Price Adjustment!! Perfect for 203K loan and Great opportunity if you are handy and willing to do some work/ updating!! This 3 bedroom, 2 Full bath home with 2 + car garage on nice lot close to I 69 Could be your next home!! Nice room sizes, LARGE Kitchen, Primary suite and living area. Appears that a few of mechanicals are updated (buyer to verify). Located on a back street with Low traffic. Enjoy the nice kitchen size with newer appliances, loads of storage, pantry and good counter space. Dining room could be used as a home office, family room, there are options here!! HUGE family room. This home offers lots of indoor/ outdoor options. 2 Outbuildings offers lots of choices in outdoor storage Enjoyment, No HOA here. Deck out back overlooking trees. Main floor laundry and utility room. HUGE Primary suite with full bath. This home does need some deferred maintenance Bring your sweat to build equity and make this a fantastic home. This home would be a great candidate for a 203K rehab loan. Irregular lot size. Great lot with room to play, for space or that garden you always wanted! Seller owns the land behind home into the tree line. Public record is not correct, Survey available to view in photos and correct legal in title.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥96°F today · 15 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: $19,421
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$1,554
• − Management: −$1,554
• − Depreciation: −$3,636
• Taxable income: $3,175
• Est. tax owed @ 24.0%: −$762
• After-tax cash flow: $4,214/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 — Elba

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Lapeer County · 30,581 people
• 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

-10.7% since first listed

8 events — show timeline

• 2026-05-11 Price Changed $125,000 MiRealSource-MiMLS
• 2026-05-11 Price Changed $125,000 REALCOMP
• 2026-04-23 Relisted — MiRealSource-MiMLS
• 2026-04-23 Relisted — REALCOMP
• 2026-04-21 Contingent — REALCOMP
• 2026-04-21 Contingent — MiRealSource-MiMLS
• 2026-04-12 Listed $139,900 REALCOMP
• 2026-04-12 Listed $139,900 MiRealSource-MiMLS

Property tax history

-4.7%/yr

Latest (2025): $215 · -56.4% YoY. Source: county tax records.