575 Eighth St · Baldwin, MI 49304

$42,900

1 bd · 1.0 ba · 420 sqft · SingleFamily · 9 Days on market

Built 1999 0.28 ac lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

It may be little but it offers a whole lot! Formerly used as a rental unit this 1 bedroom home has a metal roof, deck, large yard, close to town conveniences, and is Priced to Sell! Great Home for a single person or couple, easy maintenance, convenient, nice neighborhood, city water and sewer, and natural gas. It is wooded across the street and no neighbors to the east giving it a slightly secluded feeling yet still in the village and within walking distance to town amenities.

Key facts

• Metal roof
• City water and sewer
• Large yard

Tags

• METAL ROOF
• LARGE YARD
• CLOSE TO TOWN CONVENIENCES
• CITY WATER AND SEWER
• NATURAL GAS
• WOODED ACROSS THE STREET

Property features AI

Exterior

• Utilities: Public water; Natural gas available and connected; Electricity available
• Home design: Single family residence; Residential property; Built in 1999
• Construction: Vinyl siding; Metal roof; Slab foundation
• Exterior features: Wooded lot; Paved road access; Shed(s) on property

Interior

• Kitchen: Kitchen (9 x 13)
• Bedrooms: Primary bedroom (10 x 8)
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall furnace heating
• Interior features: Total of 4 rooms; Insulated windows; Window treatments

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $43k.

Deal economics

• At list price, monthly cash flow is $330 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($768 rent vs $43k).
• Cap rate 15.5% vs local median 3.6% in Baldwin — 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 68/100 on livability (#360 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: schools F, amenities F, commute F.
• Baldwin Community Schools (rural): math 21% / reading 28% proficiency, ranked #618 of 760 in MI (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 85% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 167 active listings in the ZIP; 30 units permitted in Lake County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $297 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Lake County population projected at -22% 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 $12k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 19 sale attempts since 23y 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.
• Current owner paid $10k; list at $43k implies a 329% gain — meaningful room to come down on a strong offer.

Recommended offer $42,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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.
4. 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.
5. 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: 1.79% ✓
• Cap rate: 15.54%
• Cash-on-cash: 33.01%
• DSCR: 2.47
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.2%
• Equity multiple: 2.17×
• Total profit: $14,096
• Equity at exit: $6,397

10-year hold

• IRR: 35.6%
• Equity multiple: 4.28×
• Total profit: $39,373
• Equity at exit: $3,709

Cash invested: $12,012 (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 49304

• Home prices YoY: -30.4%
• Active inventory: 167
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $768 medium
• Mortgage (P&I): −$225
• Tax from tax record: −$33 /mo · $398/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$161
• Net cashflow: $330

Break-even live

Break-even rent $349

Max offer price $42,900

Occupancy floor 52%

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: $10,725
• Closing costs: $1,287
• Reserves months: —
• Total cash needed: —

Listing history 37 events

1. 2026-05-31
   statusdays on market $42,900 Pending 9 DOM
2. 2026-05-21
   listed $42,900 Active

   Show marketing remark (483 chars)

   It may be little but it offers a whole lot! Formerly used as a rental unit this 1 bedroom home has a metal roof, deck, large yard, close to town conveniences, and is Priced to Sell! Great Home for a single person or couple, easy maintenance, convenient, nice neighborhood, city water and sewer, and natural gas. It is wooded across the street and no neighbors to the east giving it a slightly secluded feeling yet still in the village and within walking distance to town amenities.

3. 2026-05-21
   listed $42,900 Active 481-char remark

   Show marketing remark (483 chars)

   It may be little but it offers a whole lot! Formerly used as a rental unit this 1 bedroom home has a metal roof, deck, large yard, close to town conveniences, and is Priced to Sell! Great Home for a single person or couple, easy maintenance, convenient, nice neighborhood, city water and sewer, and natural gas. It is wooded across the street and no neighbors to the east giving it a slightly secluded feeling yet still in the village and within walking distance to town amenities.

4. 2026-05-21
   listed $42,900 Active 483-char remark

   Show marketing remark (483 chars)

   It may be little but it offers a whole lot! Formerly used as a rental unit this 1 bedroom home has a metal roof, deck, large yard, close to town conveniences, and is Priced to Sell! Great Home for a single person or couple, easy maintenance, convenient, nice neighborhood, city water and sewer, and natural gas. It is wooded across the street and no neighbors to the east giving it a slightly secluded feeling yet still in the village and within walking distance to town amenities.

5. 2019-11-08
   historical
6. 2019-11-08
   historical
7. 2019-11-08
   historical
8. 2019-11-06
   status Active
9. 2019-10-04
   status Pending
10. 2019-09-05
    listed $19,900
11. 2019-09-05
    listed $19,900 Active
12. 2019-09-05
    listed $19,900
13. 2015-04-23
    historical
14. 2014-09-16
    historical
15. 2014-09-15
    historical
16. 2014-09-15
    historical
17. 2008-02-09
    soldstatus $10,000
18. 2008-02-09
    soldstatus $10,000
19. 2008-02-09
    soldstatus $10,000
20. 2007-10-19
    listed $17,000
21. 2007-10-19
    listed $17,000
22. 2007-08-12
    historical
23. 2007-02-12
    listed $32,000
24. 2007-02-12
    listed $32,000
25. 2007-02-05
    historical
26. 2007-02-05
    historical
27. 2007-02-05
    historical
28. 2006-07-05
    listed $37,000
29. 2006-07-05
    listed $37,000
30. 2006-07-05
    listed $37,000
31. 2006-07-05
    listed $37,000
32. 2006-07-05
    listed $37,000
33. 2006-07-05
    listed $37,000
34. 2004-09-30
    soldstatus $24,000
35. 2004-09-30
    soldstatus $24,000
36. 2003-07-25
    listed $24,900
37. 2003-07-25
    listed $24,900

ⓘ 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: $398 · $33/mo
• Projected year-2 tax: $529 · $44/mo
• Expected delta: +$131/yr (+$11/mo · 33.0%)

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

Taxation est. · year 1

• Rental income: $9,213
• − Mortgage interest: −$2,403
• − Property taxes: −$398
• − Insurance: −$214
• − Repairs & maintenance: −$737
• − Management: −$737
• − Depreciation: −$1,248
• Taxable income: $3,475
• Est. tax owed @ 24.0%: −$834
• After-tax cash flow: $3,132/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: Baldwin Community Schools
• NCES district ID: 2603810
• Math proficiency: 21% ▲ 3.00%
• Reading proficiency: 28% ▼ -2.00%
• Median HH income: $27,638
• Composite: 22.56/100
• National rank: #13447
• State rank: #618 of 760 in MI

Livability — Baldwin

• Score: 68/100
• State rank: #360
• US rank: #9207

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Baldwin, MI
• Population (ZIP): 4,680

Population outlook (Lake County) Hauer SSP2

• Today (2025): 10,933 people
• By 2030: 10,503 · -3.9%
• By 2040: 9,470 · -13.4%
• By 2050: 8,526 · -22.0%
• By 2075: 7,160 · -34.5%
• By 2100: 5,634 · -48.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 12% Hispanic / Latino 11% Two or more races 9% Native American 2%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2%
• Common ancestry: Romanian 5% Iranian 5% Lithuanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4% Vietnamese 1%

Political lean MEDSL · Lake

• 2024 margin: Solid R (+32.2) · D 33.2% · R 65.4% · Other 1.4%
• 2008→2024 swing: -44.5pp toward R · 2008: 12.3pp · 2024: -32.2pp
• All cycles: 2024: R+32.2 2020: R+26.2 2016: R+22.9 2012: D+5.0 2008: D+12.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -51.01%
• Current HPI: 116.6025
• 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

+72.3% since first listed

36 events — show timeline

• 2026-05-21 Listed $42,900 REALCOMP
• 2026-05-21 Listed $42,900 MiRealSource-MiMLS
• 2026-05-21 Listed $42,900 SW Michigan MLS
• 2019-11-08 Listing Removed — MiRealSource-MiMLS
• 2019-11-08 Listing Removed — SW Michigan MLS
• 2019-11-08 Listing Removed — REALCOMP
• 2019-11-06 Relisted — SW Michigan MLS
• 2019-10-04 Pending — SW Michigan MLS
• 2019-09-05 Listed $19,900 MiRealSource-MiMLS
• 2019-09-05 Listed $19,900 SW Michigan MLS
• 2019-09-05 Listed $19,900 REALCOMP
• 2015-04-23 Listing Removed — SW Michigan MLS
• 2014-09-16 Listing Removed — SW Michigan MLS
• 2014-09-15 Listing Removed — SW Michigan MLS
• 2014-09-15 Listing Removed — SW Michigan MLS
• 2008-02-09 Sold (Public Records) $10,000 Public Records
• 2008-02-09 Sold (MLS) $10,000 REALCOMP
• 2008-02-09 Sold (MLS) $10,000 SW Michigan MLS
• 2007-10-19 Listed $17,000 REALCOMP
• 2007-10-19 Listed $17,000 SW Michigan MLS
• 2007-08-12 Listing Removed — REALCOMP
• 2007-02-12 Listed $32,000 REALCOMP
• 2007-02-12 Listed $32,000 SW Michigan MLS
• 2007-02-05 Listing Removed — REALCOMP
• 2007-02-05 Listing Removed — REALCOMP
• 2007-02-05 Listing Removed — REALCOMP
• 2006-07-05 Listed $37,000 REALCOMP
• 2006-07-05 Listed $37,000 REALCOMP
• 2006-07-05 Listed $37,000 REALCOMP
• 2006-07-05 Listed $37,000 SW Michigan MLS
• 2006-07-05 Listed $37,000 SW Michigan MLS
• 2006-07-05 Listed $37,000 SW Michigan MLS
• 2004-09-30 Sold (MLS) $24,000 REALCOMP
• 2004-09-30 Sold (MLS) $24,000 SW Michigan MLS
• 2003-07-25 Listed $24,900 REALCOMP
• 2003-07-25 Listed $24,900 SW Michigan MLS

Property tax history

-0.2%/yr

Latest (2024): $398 · +4.8% YoY. Source: county tax records.