4426 12th St · Dorr, MI 49348

$48,000

2 bd · 1.0 ba · 615 sqft · SingleFamily · 14 Days on market

Built 1930 Poor condition 0.29 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
• Schools +4.2/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Small 2 bedroom home in need of TLC. Backyard has a fenced in area. 2 outbuildings, 1 shed seems to be in decent condition, the other is larger and appears to be in decent condition as well. All offers are being held until 6/19/2026 at 8:00 am. Sale is subject to Probate Court Approval.

Key facts

• Fenced in area
• 2 outbuildings
• 0.29 acre lot

Tags

• FENCED IN AREA
• 2 OUTBUILDINGS
• SHED IN DECENT CONDITION

Property features AI

Exterior

• Utilities: Public water; Natural gas connected; Natural gas water heater
• Home design: Traditional single-family residence; Built in 1930; Living area approximately 615
• Construction: Vinyl siding; Metal roof; Partial crawl space foundation
• Exterior features: Paved road access; Shed(s) and barn(s) on the property

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Heating present
• Interior features: Total of 4 rooms; Partial crawl space basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $48k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $430 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($964 rent vs $48k).

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Wayland Union Schools (town): math 45% / reading 51% proficiency, ranked #110 of 540 in MI (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 94 active listings in the ZIP; 419 units permitted in Allegan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $332 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $48,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.01% ✓
• Cap rate: 17.05%
• Cash-on-cash: 38.41%
• DSCR: 2.71
• GRM: 4.1

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: 34.5%
• Equity multiple: 2.46×
• Total profit: $19,634
• Equity at exit: $7,157

10-year hold

• IRR: 41.4%
• Equity multiple: 4.90×
• Total profit: $52,435
• Equity at exit: $4,150

Cash invested: $13,440 (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 49348

• Active inventory: 94
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $964 medium
• Mortgage (P&I): −$252
• Tax est. 1.5%: −$60 /mo · $720/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$203
• Net cashflow: $430

Break-even live

Break-even rent $420

Max offer price $48,000

Occupancy floor 50%

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: $12,000
• Closing costs: $1,440
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-16
   statusdays on market $48,000 Pending 14 DOM
2. 2026-06-15
   days on market $48,000 Active 13 DOM
3. 2026-06-14
   days on market $48,000 Active 11 DOM
4. 2026-06-10
   days on market $48,000 Active 8 DOM
5. 2026-06-09
   days on market $48,000 Active 7 DOM
6. 2026-06-08
   days on market $48,000 Active 6 DOM
7. 2026-06-07
   days on market $48,000 Active 5 DOM
8. 2026-06-05
   remarks 301-char remark
9. 2026-06-05
   days on market $48,000 Active 2 DOM
10. 2026-06-03
    remarks 287-char remark
11. 2026-06-03
    listed $48,000 Active 1 DOM

ⓘ 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 ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,573
• − Mortgage interest: −$2,689
• − Property taxes: −$720
• − Insurance: −$240
• − Repairs & maintenance: −$926
• − Management: −$926
• − Depreciation: −$1,396
• Taxable income: $4,676
• Est. tax owed @ 24.0%: −$1,122
• After-tax cash flow: $4,040/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.

Condition & rehab AI · 13 photos

Poor 20/100 Extensive rehab

This property requires extensive renovations and repairs to bring it up to a livable condition. Immediate updates are needed in the kitchen and bathrooms, exterior siding and roof, HVAC system, and landscaping.

Repairs flagged

• Major Kitchen countertops — Dirty and worn-out, need replacement.
• Major Kitchen appliances — Dirty and worn-out, need replacement.
• Major Kitchen flooring — Dirty and worn-out, need replacement.
• Major Bathroom fixtures — Dirty and worn-out, need replacement.
• Major Bathroom flooring — Dirty and worn-out, need replacement.
• Major Exterior siding — Weathered and missing shingles, need replacement.
• Major Windows — Dirty and worn-out, need replacement.
• Major Landscaping — Overgrown and unkempt, need trimming and planting.
• Major HVAC system — Aged and likely inefficient, needs replacement or repair.

Value-add opportunities

• Resale Kitchen renovation — Modernizing the kitchen will attract more buyers.
• Resale Bathroom renovation — Modernizing the bathrooms will attract more buyers.
• Both Exterior siding and roof replacement — Improving the exterior will increase curb appeal and value.
• Both HVAC system replacement — A new HVAC system will improve comfort and energy efficiency.
• Both Landscaping and yard work — A well-maintained yard will increase curb appeal and attract more buyers/renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen countertops · Dirty and worn-out, need replacement.	Major	$15,000–50,000
Kitchen appliances · Dirty and worn-out, need replacement.	Major	$15,000–50,000
Kitchen flooring · Dirty and worn-out, need replacement.	Major	$15,000–50,000
Bathroom fixtures · Dirty and worn-out, need replacement.	Major	$15,000–50,000
Bathroom flooring · Dirty and worn-out, need replacement.	Major	$15,000–50,000
Exterior siding · Weathered and missing shingles, need replacement.	Major	$15,000–50,000
Windows · Dirty and worn-out, need replacement.	Major	$15,000–50,000
Landscaping · Overgrown and unkempt, need trimming and planting.	Major	$15,000–50,000
HVAC system · Aged and likely inefficient, needs replacement or repair.	Major	$15,000–50,000
Total estimated repair cost · 9 items		$135,000–450,000

Value-add ROI direction

• Resale Kitchen renovation — Modernizing the kitchen will attract more buyers. ↑
• Resale Bathroom renovation — Modernizing the bathrooms will attract more buyers. ↑
• Both Exterior siding and roof replacement — Improving the exterior will increase curb appeal and value. ↑
• Both HVAC system replacement — A new HVAC system will improve comfort and energy efficiency. ↑
• Both Landscaping and yard work — A well-maintained yard will increase curb appeal and attract more buyers/renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Wayland Union Schools
• NCES district ID: 2635550
• Math proficiency: 45% ▼ -11.00%
• Reading proficiency: 51% ▼ -5.00%
• Median HH income: $58,432
• Composite: 41.92/100
• National rank: #3359
• State rank: #110 of 540 in MI

Livability — Dorr

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

Census & demographics

• Population (ZIP): 13,607

Population outlook (Allegan County) Hauer SSP2

• Today (2025): 120,251 people
• By 2030: 122,204 · +1.6%
• By 2040: 123,979 · +3.1%
• By 2050: 122,340 · +1.7%
• By 2075: 116,088 · -3.5%
• By 2100: 98,461 · -18.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 6% Hispanic / Latino 5% Black 2% Asian 2%
• Common ancestry: Iranian 24% Romanian 6% Lithuanian 4%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Vietnamese 1%

Political lean MEDSL · Allegan

• 2024 margin: Strong R (+27.2) · D 35.7% · R 62.9% · Other 1.5%
• 2008→2024 swing: -16.5pp toward R · 2008: -10.7pp · 2024: -27.2pp
• All cycles: 2024: R+27.2 2020: R+25.2 2016: R+28.8 2012: R+19.2 2008: R+10.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -150.52%
• Current HPI: 251.5261
• 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

+0.0% since first listed

3 events — show timeline

• 2026-06-02 Listed $48,000 MiRealSource-MiMLS
• 2026-06-02 Listed $48,000 REALCOMP
• 2026-06-02 Listed $48,000 SW Michigan MLS