13045 Strong Blvd

South Rockwood, MI 48179

$172,900C+

4 bd · 3.0 ba · 2,280 sqft · Built 2000 · SingleFamily · Active · 31 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,784/mo
• Mortgage (P&I): −$907
• Tax + insurance: −$182
• HOA: −$0
• Vac / Maint / Mgmt: −$375
• Net cashflow: $321/mo
• Annual: $3,851/yr
• Cap rate: 8.52%
• Cash-on-cash: 7.96%
• DSCR: 1.35
• 1% rule: 1.03%
• Cash to close: $48,412

Investor read

• This is a 4-bed/3.0-bath single-family listed at $173k.
• At list price, monthly cash flow is $321 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $173k).
• It's been on market 31 days — a 3% lower offer ($168k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $168k (3.0% below list) — sets the bar for market timing.
• 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.
• Location reads 72/100 on livability (#245 in MI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, schools D, amenities F.
• Airport Community Schools (rural): math 38% / reading 46% proficiency, ranked #170 of 540 in MI (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 11 active listings in the ZIP; 264 units permitted in Monroe County in 2024 (40 in 5+ unit buildings).
• Monroe County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 17 sale attempts since 23y ago; this cycle's ask has dropped $17k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $111k; list at $173k implies a 56% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.