801 Wilson Blvd · St. Louis, MI 48880

$38,000

2 bd · 1.0 ba · 553 sqft · SingleFamily · 4 Days on market

Built 1920 10,019 sqft lot $69/sqft · 58% below area

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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
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in the quiet town of St. Louis, this 2 bedroom, 1 bath home sits on a nice sized lot with plenty of potential. Whether you're looking for an affordable starter home, investment property, or your next fixer-upper project, this one is worth a look!

Key facts

• 0.23 acre lot
• Built 1920
• Listed 4 days

Property features AI

Exterior

• Utilities: Public water; Shared septic
• Home design: Single-family residence; One level
• Construction: Wood siding; Slab foundation
• Exterior features: Cleared lot; Shed(s) on the property; Lot dimensions approximately 125 x 80

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating; No cooling
• Interior features: Five total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $38k.

Deal economics

• At list price, monthly cash flow is $408 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($806 rent vs $38k).
• Cap rate 19.2% vs local median 5.5% in St. Louis — 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. Louis Public Schools (town): math 19% / reading 37% proficiency, ranked #397 of 540 in MI (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 28 active listings in the ZIP; 47 units permitted in Gratiot County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $263 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Gratiot County population projected at -14% 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 $11k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $38,000

Questions for the listing agent

1. Built in 1920 — 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. 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.
4. 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.
5. 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: 2.12% ✓
• Cap rate: 19.19%
• Cash-on-cash: 46.06%
• DSCR: 3.05
• GRM: 3.9

CMA / ARV

• ARV (median comp): $90,016
• List price: $38,000
• Delta: -57.79%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
801 Wilson Blvd	0.00mi	2/1.0	553 (0%)	1mo	$40,000	$72	99
111 W Tyrell St	0.54mi	1/1.0 (-1)	484 (-12%)	12mo	$81,300	$168	39

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: 43.3%
• Equity multiple: 2.87×
• Total profit: $19,844
• Equity at exit: $5,666

10-year hold

• IRR: 49.3%
• Equity multiple: 5.77×
• Total profit: $50,737
• Equity at exit: $3,286

Cash invested: $10,640 (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 48880

• Home prices YoY: -28.5%
• Active inventory: 28
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $806 medium
• Mortgage (P&I): −$199
• Tax from tax record: −$14 /mo · $163/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$169
• Net cashflow: $408

Break-even live

Break-even rent $289

Max offer price $38,000

Occupancy floor 44%

Sensitivity live

Price	-10% $430	-5% $419	+0% $408	+5% $398	+10% $387
Rent	-10% $345	-5% $377	+0% $408	+5% $440	+10% $472
Rate	-1.0pp $428	-0.5pp $418	base $408	+0.5pp $399	+1.0pp $389

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: $9,500
• Closing costs: $1,140
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-10
   status Pending 254-char remark

   Show marketing remark (254 chars)

   Located in the quiet town of St. Louis, this 2 bedroom, 1 bath home sits on a nice sized lot with plenty of potential. Whether you're looking for an affordable starter home, investment property, or your next fixer-upper project, this one is worth a look!

2. 2026-05-10
   status Pending 254-char remark

   Show marketing remark (254 chars)

   Located in the quiet town of St. Louis, this 2 bedroom, 1 bath home sits on a nice sized lot with plenty of potential. Whether you're looking for an affordable starter home, investment property, or your next fixer-upper project, this one is worth a look!

3. 2026-05-05
   listed $38,000 Active 254-char remark

   Show marketing remark (254 chars)

   Located in the quiet town of St. Louis, this 2 bedroom, 1 bath home sits on a nice sized lot with plenty of potential. Whether you're looking for an affordable starter home, investment property, or your next fixer-upper project, this one is worth a look!

4. 2026-05-05
   listed $38,000 Active 254-char remark

   Show marketing remark (254 chars)

   Located in the quiet town of St. Louis, this 2 bedroom, 1 bath home sits on a nice sized lot with plenty of potential. Whether you're looking for an affordable starter home, investment property, or your next fixer-upper project, this one is worth a look!

ⓘ 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: $163 · $14/mo
• Projected year-2 tax: $374 · $31/mo
• Expected delta: +$211/yr (+$18/mo · 129.7%)

ⓘ 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 ≥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: $9,677
• − Mortgage interest: −$2,129
• − Property taxes: −$163
• − Insurance: −$190
• − Repairs & maintenance: −$774
• − Management: −$774
• − Depreciation: −$1,105
• Taxable income: $4,542
• Est. tax owed @ 24.0%: −$1,090
• After-tax cash flow: $3,811/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: St. Louis Public Schools
• NCES district ID: 2632880
• Math proficiency: 19% ▼ -4.00%
• Reading proficiency: 37% ▼ -7.00%
• Median HH income: $38,717
• Composite: 23.4/100
• National rank: #7899
• State rank: #397 of 540 in MI

Livability — St. Louis

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

Census & demographics

• Census place: St. Louis, MI
• Population (ZIP): 9,952

Population outlook (Gratiot County) Hauer SSP2

• Today (2025): 39,991 people
• By 2030: 38,944 · -2.6%
• By 2040: 36,694 · -8.2%
• By 2050: 34,314 · -14.2%
• By 2075: 27,693 · -30.8%
• By 2100: 20,809 · -48.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Black 19% Hispanic / Latino 9% Two or more races 7%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Common ancestry: Romanian 2% Slovak 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Gratiot

• 2024 margin: Solid R (+31.3) · D 33.7% · R 65.0% · Other 1.4%
• 2008→2024 swing: -35.7pp toward R · 2008: 4.4pp · 2024: -31.3pp
• All cycles: 2024: R+31.3 2020: R+28.3 2016: R+25.6 2012: R+3.9 2008: D+4.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -82.19%
• Current HPI: 206.4534
• 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

+5.3% since first listed

6 events — show timeline

• 2026-05-22 Sold (MLS) $40,000 REALCOMP
• 2026-05-22 Sold (MLS) $40,000 MiRealSource-MiMLS
• 2026-05-10 Pending — REALCOMP
• 2026-05-10 Pending — MiRealSource-MiMLS
• 2026-05-05 Listed $38,000 REALCOMP
• 2026-05-05 Listed $38,000 MiRealSource-MiMLS