1295 1st St · Lapeer, MI 48446

$159,900

3 bd · 1.5 ba · 1,920 sqft · SingleFamily · 15 Days on market

Built 1969 6,534 sqft lot Est $230k · 31% under

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Why this score? — see what drove the C+ 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 +21.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +5.1/10.0
• Livability +3.6/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this charming brick ranch in Lapeer featuring 3 bedrooms and 1.5 baths! This move-in ready home offers the perfect blend of comfort and updates, including a beautifully updated full bath on the main floor and a nicely finished half bath in the basement. The spacious layout provides plenty of room for everyday living and entertaining, while the full basement offers additional living or storage space. Vacant and meticulously maintained, this home is ready for its next owners to move right in and make it their own. A perfect opportunity for families looking for a solid, well-cared-for home in a great location!

Key facts

• 6,534 sq ft lot
• 2 garage spots
• Pool

Property features AI

Exterior

• Parking: Attached 2-car garage
• Security: Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level; Ground-level entry; Brick exterior; Facing not specified
• Construction: Brick construction
• Exterior features: Deck; Porch; Above-ground outdoor pool

Interior

• Kitchen: Dishwasher; Free-standing gas range; Free-standing refrigerator; Microwave; Range hood; Stainless steel appliances
• Bedrooms: Total of 3 rooms
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; Ceiling fans
• Interior features: Finished basement; Barbecue
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $236 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $158k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 3.6% in Lapeer — 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 72/100 on livability (#231 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: schools D+, employment D, commute F.
• Lapeer Community Schools (town): math 31% / reading 49% proficiency, ranked #202 of 540 in MI (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 186 active listings in the ZIP; 152 units permitted in Lapeer County in 2024 (0 in 5+ unit buildings).

Forward outlook

• 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.
• Lapeer County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 10y 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 $110k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $157,501 (1.5% below list)

Questions for the listing agent

1. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 1.01% ✓
• Cap rate: 8.07%
• Cash-on-cash: 6.34%
• DSCR: 1.28
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $230,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1274 1st St	0.03mi	2/2.0 (-1)	1,701 (-11%)	3mo	$240,000	$141	70
1466 Luxington Dr	0.43mi	4/3.0 (+1)	1,900 (-1%)	1mo	$305,000	$161	67
1340 W Genesee St	0.55mi	3/2.0	1,984 (+3%)	6mo	$225,000	$113	61
835 N Main St	0.24mi	3/3.5	1,750 (-9%)	8mo	$275,000	$157	60
1636 Woodbridge Park Ave	0.48mi	4/3.0 (+1)	1,830 (-5%)	3mo	$285,000	$156	57
1331 W Genesee St	0.59mi	4/2.0 (+1)	1,955 (+2%)	7mo	$193,000	$99	57
1615 W Genesee St	0.59mi	4/1.5 (+1)	1,740 (-9%)	6mo	$203,000	$117	47
1086 N Saginaw St	0.66mi	3/2.0	2,111 (+10%)	5mo	$220,000	$104	46
1533 Pleasant St	0.65mi	4/2.5 (+1)	2,044 (+6%)	8mo	$310,000	$152	43
544 N Main St	0.38mi	2/2.5 (-1)	1,728 (-10%)	17mo	$155,000	$90	42
327 N Washington St	0.50mi	4/1.5 (+1)	1,654 (-14%)	16mo	$197,884	$120	35
1226 W Genesee St	0.56mi	4/2.0 (+1)	1,650 (-14%)	11mo	$163,500	$99	34

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: -6.6%
• Equity multiple: 0.76×
• Total profit: $-10,873
• Equity at exit: $23,842

10-year hold

• IRR: 3.1%
• Equity multiple: 1.22×
• Total profit: $9,849
• Equity at exit: $13,825

Cash invested: $44,772 (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 48446

• Active inventory: 186
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,613 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$133 /mo · $1,592/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$339
• Net cashflow: $236

Break-even live

Break-even rent $1,314

Max offer price $159,900

Occupancy floor 80%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-07
   statusdays on market $159,900 Pending 15 DOM
2. 2026-06-04
   days on market $159,900 Active Under Contract 14 DOM
3. 2026-06-03
   days on market $159,900 Active Under Contract 13 DOM
4. 2026-06-02
   days on market $159,900 Active Under Contract 12 DOM
5. 2026-06-01
   days on market $159,900 Active Under Contract 11 DOM
6. 2026-05-31
   days on market $159,900 Active Under Contract 10 DOM
7. 2026-05-21
   listed $159,900 Active

   Show marketing remark (630 chars)

   Welcome home to this charming brick ranch in Lapeer featuring 3 bedrooms and 1.5 baths! This move-in ready home offers the perfect blend of comfort and updates, including a beautifully updated full bath on the main floor and a nicely finished half bath in the basement. The spacious layout provides plenty of room for everyday living and entertaining, while the full basement offers additional living or storage space. Vacant and meticulously maintained, this home is ready for its next owners to move right in and make it their own. A perfect opportunity for families looking for a solid, well-cared-for home in a great location!

8. 2026-05-21
   listed $159,900 Active 630-char remark

   Show marketing remark (630 chars)

   Welcome home to this charming brick ranch in Lapeer featuring 3 bedrooms and 1.5 baths! This move-in ready home offers the perfect blend of comfort and updates, including a beautifully updated full bath on the main floor and a nicely finished half bath in the basement. The spacious layout provides plenty of room for everyday living and entertaining, while the full basement offers additional living or storage space. Vacant and meticulously maintained, this home is ready for its next owners to move right in and make it their own. A perfect opportunity for families looking for a solid, well-cared-for home in a great location!

9. 2026-05-20
   historical $159,900 630-char remark

   Show marketing remark (630 chars)

   Welcome home to this charming brick ranch in Lapeer featuring 3 bedrooms and 1.5 baths! This move-in ready home offers the perfect blend of comfort and updates, including a beautifully updated full bath on the main floor and a nicely finished half bath in the basement. The spacious layout provides plenty of room for everyday living and entertaining, while the full basement offers additional living or storage space. Vacant and meticulously maintained, this home is ready for its next owners to move right in and make it their own. A perfect opportunity for families looking for a solid, well-cared-for home in a great location!

10. 2017-03-14
    soldstatus $110,000
11. 2017-03-10
    soldstatus $110,000 Sold 506-char remark

    Show marketing remark (506 chars)

    Move in ready!! Very nice ranch, conveniently located in downtown Lapeer. This home features 3 bedrooms & 1.5 baths. Recent updates include: windows, siding (2010), roof (2011), kitchen w/ stainless steel appliances, furnace & central air (2012), hot water heater (2014) & much more! Full dry basement w/ lots of storage & half bath. Relax & enjoy the above ground pool with large wrap around deck. Home qualifies for Rural Development Financing. Hurry, won’t last long.

12. 2017-03-10
    soldstatus $110,000 Closed

    Show marketing remark (506 chars)

    Move in ready!! Very nice ranch, conveniently located in downtown Lapeer. This home features 3 bedrooms & 1.5 baths. Recent updates include: windows, siding (2010), roof (2011), kitchen w/ stainless steel appliances, furnace & central air (2012), hot water heater (2014) & much more! Full dry basement w/ lots of storage & half bath. Relax & enjoy the above ground pool with large wrap around deck. Home qualifies for Rural Development Financing. Hurry, won’t last long.

13. 2017-01-27
    status Pending

    Show marketing remark (506 chars)

    Move in ready!! Very nice ranch, conveniently located in downtown Lapeer. This home features 3 bedrooms & 1.5 baths. Recent updates include: windows, siding (2010), roof (2011), kitchen w/ stainless steel appliances, furnace & central air (2012), hot water heater (2014) & much more! Full dry basement w/ lots of storage & half bath. Relax & enjoy the above ground pool with large wrap around deck. Home qualifies for Rural Development Financing. Hurry, won’t last long.

14. 2017-01-27
    status Pending

    Show marketing remark (506 chars)

    Move in ready!! Very nice ranch, conveniently located in downtown Lapeer. This home features 3 bedrooms & 1.5 baths. Recent updates include: windows, siding (2010), roof (2011), kitchen w/ stainless steel appliances, furnace & central air (2012), hot water heater (2014) & much more! Full dry basement w/ lots of storage & half bath. Relax & enjoy the above ground pool with large wrap around deck. Home qualifies for Rural Development Financing. Hurry, won’t last long.

15. 2017-01-27
    status Pending 506-char remark

    Show marketing remark (506 chars)

    Move in ready!! Very nice ranch, conveniently located in downtown Lapeer. This home features 3 bedrooms & 1.5 baths. Recent updates include: windows, siding (2010), roof (2011), kitchen w/ stainless steel appliances, furnace & central air (2012), hot water heater (2014) & much more! Full dry basement w/ lots of storage & half bath. Relax & enjoy the above ground pool with large wrap around deck. Home qualifies for Rural Development Financing. Hurry, won’t last long.

16. 2016-09-07
    historical
17. 2016-09-03
    listed $111,900 Active

    Show marketing remark (506 chars)

    Move in ready!! Very nice ranch, conveniently located in downtown Lapeer. This home features 3 bedrooms & 1.5 baths. Recent updates include: windows, siding (2010), roof (2011), kitchen w/ stainless steel appliances, furnace & central air (2012), hot water heater (2014) & much more! Full dry basement w/ lots of storage & half bath. Relax & enjoy the above ground pool with large wrap around deck. Home qualifies for Rural Development Financing. Hurry, won’t last long.

18. 2016-09-03
    listed $111,900 Active

    Show marketing remark (506 chars)

    Move in ready!! Very nice ranch, conveniently located in downtown Lapeer. This home features 3 bedrooms & 1.5 baths. Recent updates include: windows, siding (2010), roof (2011), kitchen w/ stainless steel appliances, furnace & central air (2012), hot water heater (2014) & much more! Full dry basement w/ lots of storage & half bath. Relax & enjoy the above ground pool with large wrap around deck. Home qualifies for Rural Development Financing. Hurry, won’t last long.

19. 2016-09-03
    listed $111,900 Active

    Show marketing remark (506 chars)

    Move in ready!! Very nice ranch, conveniently located in downtown Lapeer. This home features 3 bedrooms & 1.5 baths. Recent updates include: windows, siding (2010), roof (2011), kitchen w/ stainless steel appliances, furnace & central air (2012), hot water heater (2014) & much more! Full dry basement w/ lots of storage & half bath. Relax & enjoy the above ground pool with large wrap around deck. Home qualifies for Rural Development Financing. Hurry, won’t last long.

20. 2016-09-03
    listed $111,900 Active 506-char remark

    Show marketing remark (506 chars)

    Move in ready!! Very nice ranch, conveniently located in downtown Lapeer. This home features 3 bedrooms & 1.5 baths. Recent updates include: windows, siding (2010), roof (2011), kitchen w/ stainless steel appliances, furnace & central air (2012), hot water heater (2014) & much more! Full dry basement w/ lots of storage & half bath. Relax & enjoy the above ground pool with large wrap around deck. Home qualifies for Rural Development Financing. Hurry, won’t last long.

ⓘ 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: $1,592 · $133/mo
• Projected year-2 tax: $2,027 · $169/mo
• Expected delta: +$435/yr (+$36/mo · 27.4%)

ⓘ 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 · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,354
• − Mortgage interest: −$8,957
• − Property taxes: −$1,592
• − Insurance: −$800
• − Repairs & maintenance: −$1,548
• − Management: −$1,548
• − Depreciation: −$4,652
• Taxable income: $258
• Est. tax owed @ 24.0%: −$62
• After-tax cash flow: $2,775/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: Lapeer Community Schools
• NCES district ID: 2621180
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 49% ▼ -4.00%
• Median HH income: $53,749
• Composite: 34.79/100
• National rank: #5113
• State rank: #202 of 540 in MI

Livability — Lapeer

• Score: 72/100
• State rank: #231
• US rank: #5855

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lapeer, MI
• County: Lapeer County · 30,581 people
• City population: 30,581
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 30,581
• Household income: $66,062
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 908.0

Population outlook (Lapeer County) Hauer SSP2

• Today (2025): 89,826 people
• By 2030: 89,535 · -0.3%
• By 2040: 86,695 · -3.5%
• By 2050: 80,566 · -10.3%
• By 2075: 65,783 · -26.8%
• By 2100: 46,584 · -48.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 6% Hispanic / Latino 3% Black 3%
• Common ancestry: Romanian 6% Lithuanian 4% Slovak 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Lapeer

• 2024 margin: Solid R (+39.8) · D 29.5% · R 69.3% · Other 1.3%
• 2008→2024 swing: -36.8pp toward R · 2008: -3.0pp · 2024: -39.8pp
• All cycles: 2024: R+39.8 2020: R+36.3 2016: R+38.3 2012: R+11.5 2008: R+3.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -243.58%
• Current HPI: 212.3665
• Rent YoY: —
• Metro: Detroit-Warren-Dearborn, MI
• 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

+42.9% since first listed

14 events — show timeline

• 2026-05-21 Listed $159,900 REALCOMP
• 2026-05-21 Listed $159,900 MiRealSource-MiMLS
• 2026-05-20 Coming Soon $159,900 MiRealSource-MiMLS
• 2017-03-14 Sold (Public Records) $110,000 Public Records
• 2017-03-10 Sold (MLS) $110,000 MiRealSource-MiMLS
• 2017-03-10 Sold (MLS) $110,000 REALCOMP
• 2017-01-27 Pending — MiRealSource-MiMLS
• 2017-01-27 Pending — MiRealSource-MiMLS
• 2017-01-27 Pending — REALCOMP
• 2016-09-07 Listing Removed — REALCOMP
• 2016-09-03 Listed $111,900 MiRealSource-MiMLS
• 2016-09-03 Listed $111,900 MiRealSource-MiMLS
• 2016-09-03 Listed $111,900 REALCOMP
• 2016-09-03 Listed $111,900 REALCOMP

Property tax history

+4.6%/yr

Latest (2025): $1,592 · +3.0% YoY. Source: county tax records.