10458 S Main St · Masonville, MI 49878

$89,000

3 bd · 1.0 ba · 980 sqft · SingleFamily public records · 36 Days on market

Built 1930 4,791 sqft lot $91/sqft · 57% above area Est $68k · 30% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention investors and home buyers! This property sits on a spacious double lot with the Masonville Township Recreation Area located just across the street, offering a great setting with extra room to enjoy the outdoors. The home welcomes you with a charming front porch and covered entrances. Inside you’ll find an open living room, main floor bedroom, eat-in kitchen, and convenient main floor laundry located within the full bathroom. Upstairs offers two nicely sized bedrooms with plenty closet space. The property is currently occupied by a long-term tenant paying $475 per month plus utilities, making this an excellent investment opportunity. For owner-occupants, a 30-day notice will be required prior to possession.

Key facts

• Covered entrances
• Open living room
• Front porch

Tags

• DOUBLE LOT
• FRONT PORCH
• COVERED ENTRANCES
• OPEN LIVING ROOM
• EAT-IN KITCHEN
• MAIN FLOOR LAUNDRY

Property features AI

Exterior

• Utilities: 100 amp electric service; Natural gas heat and gas water heater; Private well water; Public sanitary sewer; Cable and electricity connected
• Home design: 1 1/2-story residential home; Built in 1930; Entry faces a main street (S Main St)
• Construction: Crawl foundation
• Exterior features: Wood exterior; Front porch; Property within city limits; Road frontage

Interior

• Kitchen: Range/oven; Refrigerator
• Bedrooms: First-floor bedroom (9 x 10); Second-floor bedroom (10 x 12); Second-floor bedroom (approx. 11' wide)
• Bathrooms: One full bathroom on the main/first floor
• Heating & cooling: Forced air heating; No central cooling indicated
• Interior features: Cable/Internet available; 6 total rooms; Living room on the first floor; Kitchen on the first floor; First-floor laundry
• Laundry & utility: Laundry room on the first floor

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $426 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $86k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Rapid River Public Schools (rural): math 35% / reading 45% proficiency, ranked #358 of 760 in MI (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 51 active listings in the ZIP; 38 units permitted in Delta County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $615 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Delta 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 $25k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 2 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.
• Current owner paid $10k; list at $89k implies a 790% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $86,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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: 1.35% ✓
• Cap rate: 12.04%
• Cash-on-cash: 20.51%
• DSCR: 1.91
• GRM: 6.2

CMA / ARV

• ARV (median comp): $68,294
• List price: $89,000
• Delta: 30.32%
• Verdict: OVERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10569 S.75 Rd	0.72mi	3/1.0	1,048 (+7%)	24mo	$165,000	$157	35

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: 12.8%
• Equity multiple: 1.51×
• Total profit: $12,672
• Equity at exit: $13,270

10-year hold

• IRR: 21.6%
• Equity multiple: 2.84×
• Total profit: $45,818
• Equity at exit: $7,695

Cash invested: $24,920 (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 49878

• Active inventory: 51
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,204 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$21 /mo · $254/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $426

Break-even live

Break-even rent $665

Max offer price $89,000

Occupancy floor 60%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $89,000 Active 36 DOM
2. 2026-06-17
   days on market $89,000 Active 35 DOM
3. 2026-06-16
   days on market $89,000 Active 34 DOM
4. 2026-06-15
   days on market $89,000 Active 33 DOM
5. 2026-06-13
   days on market $89,000 Active 31 DOM
6. 2026-06-12
   days on market $89,000 Active 30 DOM
7. 2026-06-09
   days on market $89,000 Active 27 DOM
8. 2026-06-08
   days on market $89,000 Active 26 DOM
9. 2026-06-07
   days on market $89,000 Active 25 DOM
10. 2026-06-07
    days on market $89,000 Active 24 DOM
11. 2026-06-04
    pricedays on market $89,000 Active 21 DOM
12. 2026-06-02
    days on market $92,000 Active 20 DOM
13. 2026-06-01
    days on market $92,000 Active 19 DOM
14. 2026-05-31
    days on market $92,000 Active 18 DOM
15. 2026-05-31
    days on market $92,000 Active 17 DOM
16. 2026-05-13
    listed $92,000 Active 731-char remark

    Show marketing remark (731 chars)

    Attention investors and home buyers! This property sits on a spacious double lot with the Masonville Township Recreation Area located just across the street, offering a great setting with extra room to enjoy the outdoors. The home welcomes you with a charming front porch and covered entrances. Inside you’ll find an open living room, main floor bedroom, eat-in kitchen, and convenient main floor laundry located within the full bathroom. Upstairs offers two nicely sized bedrooms with plenty closet space. The property is currently occupied by a long-term tenant paying $475 per month plus utilities, making this an excellent investment opportunity. For owner-occupants, a 30-day notice will be required prior to possession.

17. 2026-05-13
    listed $92,000 Active 731-char remark

    Show marketing remark (731 chars)

    Attention investors and home buyers! This property sits on a spacious double lot with the Masonville Township Recreation Area located just across the street, offering a great setting with extra room to enjoy the outdoors. The home welcomes you with a charming front porch and covered entrances. Inside you’ll find an open living room, main floor bedroom, eat-in kitchen, and convenient main floor laundry located within the full bathroom. Upstairs offers two nicely sized bedrooms with plenty closet space. The property is currently occupied by a long-term tenant paying $475 per month plus utilities, making this an excellent investment opportunity. For owner-occupants, a 30-day notice will be required prior to possession.

18. 2024-11-06
    soldstatus $10,000

ⓘ 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: $254 · $21/mo
• Projected year-2 tax: $812 · $68/mo
• Expected delta: +$558/yr (+$47/mo · 219.8%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥90°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,445
• − Mortgage interest: −$4,985
• − Property taxes: −$254
• − Insurance: −$445
• − Repairs & maintenance: −$1,156
• − Management: −$1,156
• − Depreciation: −$2,589
• Taxable income: $3,860
• Est. tax owed @ 24.0%: −$926
• After-tax cash flow: $4,185/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: Rapid River Public Schools
• NCES district ID: 2629340
• Math proficiency: 35% ▲ 15.00%
• Reading proficiency: 45% ▲ 25.00%
• Median HH income: $47,347
• Composite: 36.65/100
• National rank: #9244
• State rank: #358 of 760 in MI

Livability — Masonville

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

Census & demographics

• Census place: Rapid River, MI
• Population (ZIP): 3,184

Population outlook (Delta County) Hauer SSP2

• Today (2025): 34,431 people
• By 2030: 33,003 · -4.1%
• By 2040: 29,748 · -13.6%
• By 2050: 26,753 · -22.3%
• By 2075: 20,962 · -39.1%
• By 2100: 15,616 · -54.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 8% Native American 2% Hispanic / Latino 1%
• Common ancestry: Lithuanian 10% Italian 6% Romanian 5%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Delta

• 2024 margin: Solid R (+30.4) · D 34.1% · R 64.5% · Other 1.4%
• 2008→2024 swing: -36.7pp toward R · 2008: 6.3pp · 2024: -30.4pp
• All cycles: 2024: R+30.4 2020: R+26.5 2016: R+25.4 2012: R+6.7 2008: D+6.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -126.46%
• Current HPI: 226.089
• 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

+790.0% since first listed

5 events — show timeline

• 2026-06-03 Price Changed $89,000 MiRealSource-MiMLS
• 2026-06-03 Price Changed $89,000 UPAR
• 2026-05-13 Listed $92,000 UPAR
• 2026-05-13 Listed $92,000 MiRealSource-MiMLS
• 2024-11-06 Sold (Public Records) $10,000 Public Records

Property tax history

-13.9%/yr

Latest (2025): $254 · -70.5% YoY. Source: county tax records.