181 W Second St · Vermontville, MI 49096

$64,900

2 bd · 1.0 ba · 1,260 sqft · SingleFamily public records · 38 Days on market

8,712 sqft lot

---

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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Older ranch home welcomes you to an enclosed front porch and huge dining area, large livingroom and large kitchen. Home features 3 bedrooms. Michigan basement, large backyard! Home is close to Vermontville Village. Per seller, EMD is to be held with seller's title company.

Key facts

• Huge dining area
• Large backyard
• Large kitchen

Tags

• ENCLOSED FRONT PORCH
• HUGE DINING AREA
• LARGE LIVINGROOM
• LARGE KITCHEN
• MICHIGAN BASEMENT
• LARGE BACKYARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $374 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($970 rent vs $65k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#513 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, schools D-, crime F.
• Maple Valley Schools (rural): math 27% / reading 36% proficiency, ranked #332 of 540 in MI (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 13 active listings in the ZIP; 98 units permitted in Eaton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Eaton County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask is 4227% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $62,953 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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: 1.49% ✓
• Cap rate: 13.21%
• Cash-on-cash: 24.70%
• DSCR: 2.10
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $162,540
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
172 Sherman St	0.30mi	3/2.0 (+1)	1,248 (-1%)	0mo	$175,000	$140	75
344 E Main St	0.46mi	2/1.0	1,168 (-7%)	5mo	$136,250	$117	62
380 Elm St	0.11mi	3/1.0 (+1)	1,400 (+11%)	22mo	$180,000	$129	53
174 E First St	0.19mi	3/1.5 (+1)	1,392 (+10%)	20mo	$188,000	$135	50
875 Linden St	0.60mi	3/2.0 (+1)	1,200 (-5%)	8mo	$145,000	$121	48

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: 18.1%
• Equity multiple: 1.73×
• Total profit: $13,289
• Equity at exit: $9,677

10-year hold

• IRR: 26.5%
• Equity multiple: 3.32×
• Total profit: $42,170
• Equity at exit: $5,611

Cash invested: $18,172 (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 49096

• Home prices YoY: -18.5%
• Active inventory: 13
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $970 medium
• Mortgage (P&I): −$340
• Tax from tax record: −$24 /mo · $293/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$204
• Net cashflow: $374

Break-even live

Break-even rent $496

Max offer price $64,900

Occupancy floor 56%

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-02-20
   historical $1,500
2. 2026-02-06
   listed $1,500
3. 2025-11-10
   soldstatus $58,500
4. 2025-09-26
   status Pending 273-char remark

   Show marketing remark (274 chars)

   Older ranch home welcomes you to an enclosed front porch and huge dining area, large livingroom and large kitchen. Home features 3 bedrooms. Michigan basement, large backyard! Home is close to Vermontville Village. Per seller, EMD is to be held with seller's title company.

5. 2025-09-26
   status Pending 274-char remark

   Show marketing remark (274 chars)

   Older ranch home welcomes you to an enclosed front porch and huge dining area, large livingroom and large kitchen. Home features 3 bedrooms. Michigan basement, large backyard! Home is close to Vermontville Village. Per seller, EMD is to be held with seller's title company.

6. 2025-09-26
   status Pending

   Show marketing remark (274 chars)

   Older ranch home welcomes you to an enclosed front porch and huge dining area, large livingroom and large kitchen. Home features 3 bedrooms. Michigan basement, large backyard! Home is close to Vermontville Village. Per seller, EMD is to be held with seller's title company.

7. 2025-08-19
   listed $64,900 Active 273-char remark

   Show marketing remark (274 chars)

   Older ranch home welcomes you to an enclosed front porch and huge dining area, large livingroom and large kitchen. Home features 3 bedrooms. Michigan basement, large backyard! Home is close to Vermontville Village. Per seller, EMD is to be held with seller's title company.

8. 2025-08-19
   listed $64,900 Active 274-char remark

   Show marketing remark (274 chars)

   Older ranch home welcomes you to an enclosed front porch and huge dining area, large livingroom and large kitchen. Home features 3 bedrooms. Michigan basement, large backyard! Home is close to Vermontville Village. Per seller, EMD is to be held with seller's title company.

9. 2025-08-19
   listed $64,900 Active

   Show marketing remark (274 chars)

   Older ranch home welcomes you to an enclosed front porch and huge dining area, large livingroom and large kitchen. Home features 3 bedrooms. Michigan basement, large backyard! Home is close to Vermontville Village. Per seller, EMD is to be held with seller's title company.

ⓘ 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: $293 · $24/mo
• Projected year-2 tax: $646 · $54/mo
• Expected delta: +$353/yr (+$29/mo · 120.3%)

ⓘ 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 · 16 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: $11,634
• − Mortgage interest: −$3,635
• − Property taxes: −$293
• − Insurance: −$324
• − Repairs & maintenance: −$931
• − Management: −$931
• − Depreciation: −$1,888
• Taxable income: $3,632
• Est. tax owed @ 24.0%: −$872
• After-tax cash flow: $3,618/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: Maple Valley Schools
• NCES district ID: 2622620
• Math proficiency: 27% ▼ -8.00%
• Reading proficiency: 36% ▼ -9.00%
• Median HH income: $49,074
• Composite: 27.33/100
• National rank: #6987
• State rank: #332 of 540 in MI

Livability — Vermontville

• Score: 63/100
• State rank: #513
• US rank: #15340

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vermontville, MI
• Population (ZIP): 3,196

Population outlook (Eaton County) Hauer SSP2

• Today (2025): 110,811 people
• By 2030: 110,598 · -0.2%
• By 2040: 108,304 · -2.3%
• By 2050: 104,961 · -5.3%
• By 2075: 97,197 · -12.3%
• By 2100: 85,150 · -23.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Polish 5% Iranian 3% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 90% English-only · German/W. Germanic 8% Spanish 1%

Political lean MEDSL · Eaton

• 2024 margin: Toss-up / Even · D 47.6% · R 50.8% · Other 1.6%
• 2008→2024 swing: -11.6pp toward R · 2008: 8.4pp · 2024: -3.1pp
• All cycles: 2024: R+3.1 2020: R+0.8 2016: R+5.5 2012: D+3.1 2008: D+8.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -49.70%
• Current HPI: 219.3993
• 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

-97.7% since first listed

9 events — show timeline

• 2026-02-20 Rental Removed $1,500 TURBOTENANT
• 2026-02-06 Listed for Rent $1,500 TURBOTENANT
• 2025-11-10 Sold (Public Records) $58,500 Public Records
• 2025-09-26 Pending — MiRealSource-MiMLS
• 2025-09-26 Pending — REALCOMP
• 2025-09-26 Pending — SW Michigan MLS
• 2025-08-19 Listed $64,900 SW Michigan MLS
• 2025-08-19 Listed $64,900 REALCOMP
• 2025-08-19 Listed $64,900 MiRealSource-MiMLS

Property tax history

-15.4%/yr

Latest (2025): $293 · +2.2% YoY. Source: county tax records.