426 N Putnam St · Williamston, MI 48895

$139,000

3 bd · 1.5 ba · 1,392 sqft · SingleFamily · 19 Days on market

Built 1900 6,534 sqft lot Est $231k · 40% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• Schools +5.0/10.0
• Livability +4.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• 6,534 sq ft lot
• Garage
• Built 1900

Property features AI

Exterior

• Parking: One garage space; Asphalt parking
• Utilities: Natural gas connected; Electricity connected (fuses); Public sewer
• Home design: Traditional-style home; Two levels; Road frontage on a city street; Built in 1900
• Construction: Vinyl siding; Stone foundation
• Exterior features: Private yard; Covered patio/porch, deck, and porch; Shingle roof

Interior

• Kitchen: Kitchen included
• Bedrooms: Three bedrooms (primary bedroom included)
• Flooring: Carpet; Vinyl; Wood
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Seven total rooms; Full basement (Michigan-style)
• Laundry & utility: Washer and dryer on main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $578 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Recommended offer: $137k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 86/100 on livability (#19 in MI, #359 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities D-, health & safety D-.
• Williamston Community Schools (town): math 49% / reading 62% proficiency, ranked #55 of 540 in MI (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: 59 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 350 units permitted in Ingham County in 2024 (186 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $961 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Ingham County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($137k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 23y 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 $115k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $136,915 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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 B-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?
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: 1.47% ✓
• Cap rate: 11.28%
• Cash-on-cash: 17.82%
• DSCR: 1.79
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $231,072
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
324 E Church St	0.18mi	4/2.0 (+1)	1,353 (-3%)	1mo	$265,000	$196	80
136 W Church St	0.15mi	3/2.0	1,304 (-6%)	11mo	$230,000	$176	71
133 E Riverside St	0.06mi	3/2.0	1,556 (+12%)	8mo	$270,000	$174	69
316 Leasia St	0.47mi	3/1.0	1,418 (+2%)	10mo	$235,000	$166	64
370 S Cedar St	0.44mi	4/2.0 (+1)	1,491 (+7%)	1mo	$187,500	$126	60
131 W South St	0.38mi	2/1.0 (-1)	1,296 (-7%)	6mo	$203,000	$157	59
300 E Church St	0.14mi	3/2.0	1,596 (+15%)	11mo	$291,000	$182	58
824 E Grand Riv	0.58mi	3/1.0	1,302 (-6%)	4mo	$230,000	$177	57
333 S Putnam St	0.43mi	3/1.0	1,288 (-8%)	12mo	$187,500	$146	56
718 W Grand River Ave	0.64mi	3/2.0	1,534 (+10%)	2mo	$250,000	$163	50
719 Williams St	0.62mi	2/2.0 (-1)	1,532 (+10%)	3mo	$210,500	$137	45
1144 Riverview Ct	0.73mi	2/2.0 (-1)	1,450 (+4%)	12mo	$179,900	$124	42

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: 9.4%
• Equity multiple: 1.37×
• Total profit: $14,370
• Equity at exit: $20,725

10-year hold

• IRR: 18.6%
• Equity multiple: 2.55×
• Total profit: $60,239
• Equity at exit: $12,018

Cash invested: $38,920 (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 48895

• Active inventory: 59
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $2,046 medium
• Mortgage (P&I): −$729
• Tax from tax record: −$252 /mo · $3,021/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $578

Break-even live

Break-even rent $1,315

Max offer price $139,000

Occupancy floor 67%

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
123 E Riverside St Williamston, MI	3.0	2.0	1292	$1,975	$1.53	13d	1	0.06mi
2155 Mitchell Rd Williamston, MI	3.0	2.0	1492	$2,530	$1.70	13d	1	0.68mi

Listing history 22 events

1. 2026-06-09
   statusdays on market $139,000 Pending 19 DOM
2. 2026-06-08
   days on market $139,000 Active Under Contract 18 DOM
3. 2026-06-07
   days on market $139,000 Active Under Contract 17 DOM
4. 2026-06-05
   days on market $139,000 Active Under Contract 14 DOM
5. 2026-06-03
   days on market $139,000 Active Under Contract 13 DOM
6. 2026-06-02
   days on market $139,000 Active Under Contract 12 DOM
7. 2026-06-01
   days on market $139,000 Active Under Contract 11 DOM
8. 2026-05-31
   days on market $139,000 Active Under Contract 10 DOM
9. 2026-05-30
   days on market $139,000 Active Under Contract 9 DOM
10. 2026-05-21
    listed $139,000 Active
11. 2026-05-21
    listed $139,000 Active
12. 2011-04-30
    historical
13. 2010-07-19
    listed $116,900
14. 2008-12-30
    historical
15. 2008-06-13
    listed $124,300
16. 2008-05-30
    historical
17. 2007-11-20
    listed $129,800
18. 2006-08-31
    historical
19. 2006-03-07
    listed $137,500
20. 2003-09-19
    soldstatus $115,000
21. 2003-09-10
    soldstatus $115,000
22. 2003-07-01
    listed $120,000

ⓘ 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: $3,021 · $252/mo
• Projected year-2 tax: $3,021 · $252/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,557
• − Mortgage interest: −$7,786
• − Property taxes: −$3,021
• − Insurance: −$695
• − Repairs & maintenance: −$1,965
• − Management: −$1,965
• − Depreciation: −$4,044
• Taxable income: $5,082
• Est. tax owed @ 24.0%: −$1,220
• After-tax cash flow: $5,717/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: Williamston Community Schools
• NCES district ID: 2636420
• Math proficiency: 49% ▼ -15.00%
• Reading proficiency: 62% ▼ -8.00%
• Median HH income: $79,113
• Composite: 50.08/100
• National rank: #1909
• State rank: #55 of 540 in MI

Livability — Williamston

• Score: 86/100
• State rank: #19
• US rank: #359

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Williamston, MI
• City population: 11,294
• Population (ZIP): 11,294

Population outlook (Ingham County) Hauer SSP2

• Today (2025): 300,362 people
• By 2030: 307,808 · +2.5%
• By 2040: 320,492 · +6.7%
• By 2050: 333,223 · +10.9%
• By 2075: 373,693 · +24.4%
• By 2100: 392,021 · +30.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Italian 7% Romanian 6% Lithuanian 5%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 1% French/Haitian/Cajun 1% German/W. Germanic 1%

Political lean MEDSL · Ingham

• 2024 margin: Strong D (+29.7) · D 63.9% · R 34.2% · Other 2.0%
• 2008→2024 swing: -3.6pp toward R · 2008: 33.3pp · 2024: 29.7pp
• All cycles: 2024: D+29.7 2020: D+32.2 2016: D+27.6 2012: D+27.9 2008: D+33.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -175.37%
• Current HPI: 202.0808
• 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

+15.8% since first listed

13 events — show timeline

• 2026-05-21 Listed $139,000 REALCOMP
• 2026-05-21 Listed $139,000 Greater Lansing AoR
• 2011-04-30 Listing Removed — Greater Lansing AoR
• 2010-07-19 Listed $116,900 Greater Lansing AoR
• 2008-12-30 Listing Removed — Greater Lansing AoR
• 2008-06-13 Listed $124,300 Greater Lansing AoR
• 2008-05-30 Listing Removed — Greater Lansing AoR
• 2007-11-20 Listed $129,800 Greater Lansing AoR
• 2006-08-31 Listing Removed — REALCOMP
• 2006-03-07 Listed $137,500 REALCOMP
• 2003-09-19 Sold (Public Records) $115,000 Public Records
• 2003-09-10 Sold (MLS) $115,000 REALCOMP
• 2003-07-01 Listed $120,000 REALCOMP

Property tax history

+3.0%/yr

Latest (2025): $3,021 · +2.9% YoY. Source: county tax records.