213 E Oak St · St. Charles, MI 48655 1116

$34,900

2 bd · 1.0 ba · 700 sqft · SingleFamily · 360 Days on market

Built 1966 Poor condition 7,405 sqft lot $50/sqft · 30% below area Est $50k · 30% under ↓ 22% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +5.0/10.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +1.0/5.0

Listing remarks MLS

Located just across the road from the Bad River in St. Charles, this property offers a peaceful setting with a fenced-in private yard. The attached mobile home features two bedrooms, one bathroom, and an attached garage. While the home will need renovation, it presents a great opportunity to create a comfortable retreat, primary residence, or income-generating rental property. Included with the home are a washer, dryer, stove, refrigerator, and a new, uninstalled furnace. All measurements are estimates. B. A. T. V. A. I.

Key facts

• 7,405 sq ft lot
• Garage
• Built 1966

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $35k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $176 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $31k (12.0% below list) — sets the bar for market timing.
• Cap rate 27.0% vs local median 4.6% in St. Charles — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• St. Charles Community Schools (rural): math 35% / reading 47% proficiency, ranked #196 of 540 in MI (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 1 active listings in the ZIP; 154 units permitted in Saginaw County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($241 loan paydown + $1k appreciation (3.0% local appreciation)).
• Saginaw County population projected at -25% 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 $10k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 360 days — a 12% lower offer ($31k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $30,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 360 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 3.06% ✓
• Cap rate: 27.01%
• Cash-on-cash: 73.99%
• DSCR: 4.29
• GRM: 2.7

CMA / ARV

• ARV (median comp): $49,784
• List price: $34,900
• Delta: -29.90%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
203 E North St	0.07mi	2/1.0	720 (+3%)	2mo	$32,000	$44	90

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: 28.2%
• Equity multiple: 2.61×
• Total profit: $15,689
• Equity at exit: $15,693

10-year hold

• IRR: 29.0%
• Equity multiple: 5.15×
• Total profit: $40,532
• Equity at exit: $24,184

Cash invested: $9,772 (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 48655 1116

• Active inventory: 1
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,068 medium
• Mortgage (P&I): −$183
• Tax est. 1.5%: −$44 /mo · $524/yr
• Insurance: −$15
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $176

Break-even live

Break-even rent $845

Max offer price $34,900

Occupancy floor 79%

Sensitivity live

Price	-10% $200	-5% $188	+0% $176	+5% $164	+10% $152
Rent	-10% $92	-5% $134	+0% $176	+5% $218	+10% $260
Rate	-1.0pp $194	-0.5pp $185	base $176	+0.5pp $167	+1.0pp $158

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: $8,725
• Closing costs: $1,047
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-05-31
   days on market $34,900 Active 360 DOM
2. 2026-05-31
   days on market $34,900 Active 359 DOM
3. 2026-01-01
   price $34,900 526-char remark

   Show marketing remark (526 chars)

   Located just across the road from the Bad River in St. Charles, this property offers a peaceful setting with a fenced-in private yard. The attached mobile home features two bedrooms, one bathroom, and an attached garage. While the home will need renovation, it presents a great opportunity to create a comfortable retreat, primary residence, or income-generating rental property. Included with the home are a washer, dryer, stove, refrigerator, and a new, uninstalled furnace. All measurements are estimates. B. A. T. V. A. I.

4. 2025-08-05
   price $35,000 526-char remark

   Show marketing remark (526 chars)

   Located just across the road from the Bad River in St. Charles, this property offers a peaceful setting with a fenced-in private yard. The attached mobile home features two bedrooms, one bathroom, and an attached garage. While the home will need renovation, it presents a great opportunity to create a comfortable retreat, primary residence, or income-generating rental property. Included with the home are a washer, dryer, stove, refrigerator, and a new, uninstalled furnace. All measurements are estimates. B. A. T. V. A. I.

5. 2025-07-23
   price $41,500 526-char remark

   Show marketing remark (526 chars)

   Located just across the road from the Bad River in St. Charles, this property offers a peaceful setting with a fenced-in private yard. The attached mobile home features two bedrooms, one bathroom, and an attached garage. While the home will need renovation, it presents a great opportunity to create a comfortable retreat, primary residence, or income-generating rental property. Included with the home are a washer, dryer, stove, refrigerator, and a new, uninstalled furnace. All measurements are estimates. B. A. T. V. A. I.

6. 2025-07-17
   price $42,500 526-char remark

   Show marketing remark (526 chars)

   Located just across the road from the Bad River in St. Charles, this property offers a peaceful setting with a fenced-in private yard. The attached mobile home features two bedrooms, one bathroom, and an attached garage. While the home will need renovation, it presents a great opportunity to create a comfortable retreat, primary residence, or income-generating rental property. Included with the home are a washer, dryer, stove, refrigerator, and a new, uninstalled furnace. All measurements are estimates. B. A. T. V. A. I.

7. 2025-06-25
   price $43,000 526-char remark

   Show marketing remark (526 chars)

   Located just across the road from the Bad River in St. Charles, this property offers a peaceful setting with a fenced-in private yard. The attached mobile home features two bedrooms, one bathroom, and an attached garage. While the home will need renovation, it presents a great opportunity to create a comfortable retreat, primary residence, or income-generating rental property. Included with the home are a washer, dryer, stove, refrigerator, and a new, uninstalled furnace. All measurements are estimates. B. A. T. V. A. I.

8. 2025-06-19
   price $44,000 526-char remark

   Show marketing remark (526 chars)

   Located just across the road from the Bad River in St. Charles, this property offers a peaceful setting with a fenced-in private yard. The attached mobile home features two bedrooms, one bathroom, and an attached garage. While the home will need renovation, it presents a great opportunity to create a comfortable retreat, primary residence, or income-generating rental property. Included with the home are a washer, dryer, stove, refrigerator, and a new, uninstalled furnace. All measurements are estimates. B. A. T. V. A. I.

9. 2025-06-06
   listed $45,000 Active 526-char remark

   Show marketing remark (526 chars)

   Located just across the road from the Bad River in St. Charles, this property offers a peaceful setting with a fenced-in private yard. The attached mobile home features two bedrooms, one bathroom, and an attached garage. While the home will need renovation, it presents a great opportunity to create a comfortable retreat, primary residence, or income-generating rental property. Included with the home are a washer, dryer, stove, refrigerator, and a new, uninstalled furnace. All measurements are estimates. B. A. T. V. A. I.

10. 2025-06-03
    historical $45,000 526-char remark

    Show marketing remark (526 chars)

    Located just across the road from the Bad River in St. Charles, this property offers a peaceful setting with a fenced-in private yard. The attached mobile home features two bedrooms, one bathroom, and an attached garage. While the home will need renovation, it presents a great opportunity to create a comfortable retreat, primary residence, or income-generating rental property. Included with the home are a washer, dryer, stove, refrigerator, and a new, uninstalled furnace. All measurements are estimates. B. A. T. V. A. I.

ⓘ 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 3/10 Moderate FEMA zone AE · 17% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,815
• − Mortgage interest: −$1,955
• − Property taxes: −$524
• − Insurance: −$5,293
• − Repairs & maintenance: −$1,025
• − Management: −$1,025
• − Depreciation: −$1,015
• Taxable income: $1,978
• Est. tax owed @ 24.0%: −$475
• After-tax cash flow: $1,637/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 · 2 photos

Poor 20/100 Extensive rehab

This property requires extensive renovation, including a new roof, exterior siding repair, and interior updates. Landscaping and HVAC system replacement would also significantly improve its value.

Repairs flagged

• Major roof — Dark patches on the satellite image suggest potential leaks.
• Major exterior siding — Signs of wear and discoloration on the siding.
• Major interior walls and paint — No visible condition of interior walls or paint.
• Major bathrooms — No visible condition of bathrooms.
• Major kitchen — No visible condition of kitchen.
• Major landscaping — Overgrown and unkempt landscaping.
• Major windows — No visible condition of windows.
• Major HVAC/mechanicals — No visible condition of HVAC or mechanicals.

Value-add opportunities

• Resale roof replacement — A new roof would significantly improve the home's appearance and value.
• Resale exterior siding repair — Repairing the siding would improve the home's curb appeal and value.
• Resale interior painting — Painting the interior would make the home more attractive and increase its value.
• Both landscaping — A well-maintained landscape would improve the home's curb appeal and rental value.
• Both HVAC system replacement — A new HVAC system would improve comfort and energy efficiency, increasing both resale and rental value.
• Both bathroom and kitchen updates — Updating bathrooms and kitchens would make the home more attractive and increase its value for both resale and rental purposes.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Dark patches on the satellite image suggest potential leaks.	Major	$15,000–50,000
exterior siding · Signs of wear and discoloration on the siding.	Major	$15,000–50,000
interior walls and paint · No visible condition of interior walls or paint.	Major	$15,000–50,000
bathrooms · No visible condition of bathrooms.	Major	$15,000–50,000
kitchen · No visible condition of kitchen.	Major	$15,000–50,000
landscaping · Overgrown and unkempt landscaping.	Major	$15,000–50,000
windows · No visible condition of windows.	Major	$15,000–50,000
HVAC/mechanicals · No visible condition of HVAC or mechanicals.	Major	$15,000–50,000
Total estimated repair cost · 8 items		$120,000–400,000

Value-add ROI direction

• Resale roof replacement — A new roof would significantly improve the home's appearance and value. ↑
• Resale exterior siding repair — Repairing the siding would improve the home's curb appeal and value. ↑
• Resale interior painting — Painting the interior would make the home more attractive and increase its value. ↑
• Both landscaping — A well-maintained landscape would improve the home's curb appeal and rental value. ↑
• Both HVAC system replacement — A new HVAC system would improve comfort and energy efficiency, increasing both resale and rental value. ↑
• Both bathroom and kitchen updates — Updating bathrooms and kitchens would make the home more attractive and increase its value for both resale and rental purposes. ↑

ⓘ 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: St. Charles Community Schools
• NCES district ID: 2632640
• Math proficiency: 35% ▼ -3.00%
• Reading proficiency: 47% ▼ -6.00%
• Median HH income: $49,744
• Composite: 35.25/100
• National rank: #4976
• State rank: #196 of 540 in MI

Livability — St. Charles

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

Census & demographics

• Census place: St. Charles, MI

Population outlook (Saginaw County) Hauer SSP2

• Today (2025): 180,568 people
• By 2030: 172,302 · -4.6%
• By 2040: 153,919 · -14.8%
• By 2050: 135,519 · -24.9%
• By 2075: 97,199 · -46.2%
• By 2100: 65,037 · -64.0%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

-22.4% since first listed

8 events — show timeline

• 2026-01-01 Price Changed $34,900 MiRealSource-MiMLS
• 2025-08-05 Price Changed $35,000 MiRealSource-MiMLS
• 2025-07-23 Price Changed $41,500 MiRealSource-MiMLS
• 2025-07-17 Price Changed $42,500 MiRealSource-MiMLS
• 2025-06-25 Price Changed $43,000 MiRealSource-MiMLS
• 2025-06-19 Price Changed $44,000 MiRealSource-MiMLS
• 2025-06-06 Listed $45,000 MiRealSource-MiMLS
• 2025-06-03 Coming Soon $45,000 MiRealSource-MiMLS