1345 W Stoll Rd

DeWitt, MI 48820

$245,000D+

3 bd · 1.5 ba · 2,248 sqft · Built 1966 · SingleFamily · Active · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,034/mo
• Mortgage (P&I): −$1,285
• Tax + insurance: −$251
• HOA: −$0
• Vac / Maint / Mgmt: −$427
• Net cashflow: $71/mo
• Annual: $850/yr
• Cap rate: 6.64%
• Cash-on-cash: 1.24%
• DSCR: 1.06
• 1% rule: 0.83%
• Cash to close: $68,600

Investor read

• This is a 3-bed/1.5-bath single-family listed at $245k.
• At list price, monthly cash flow is $71 ($850/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $203k (17.0% below list).
• It's been on market 22 days — a 2% lower offer ($241k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $203k (17.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#99 in MI, #2,361 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety D-.
• Lansing Public School District (urban): math 14% / reading 23% proficiency, ranked #650 of 760 in MI (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 103 active listings in the ZIP; high-income renter base; 154 units permitted in Clinton County in 2024 (0 in 5+ unit buildings).
• 2 sale attempts; this cycle's ask has dropped $13k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 6.6% vs local median 2.9% in DeWitt — 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.

Questions for listing agent

• Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.