105 Jean St · Sturgis, MI 49091

$63,000

4 bd · 1.5 ba · 1,708 sqft · SingleFamily public records · 1 Days on market

Built 1920 8,276 sqft lot ↓ 48% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

4 bedroom, 1 1/2 bath home located near shopping, schools and Churches. Desirable location, roomy home.

Key facts

• 8,276 sq ft lot
• 2 garage spots
• Built 1920

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $63k.

Deal economics

• At list price, monthly cash flow is $639 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $63k).
• Cap rate 18.5% vs local median 4.0% in Sturgis — 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 73/100 on livability (#226 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, crime D-, amenities F.
• Sturgis Public Schools (town): math 20% / reading 32% proficiency, ranked #413 of 540 in MI (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 117 active listings in the ZIP; 125 units permitted in St. Joseph County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $436 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• St. Joseph County population projected at -16% 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 $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 11 sale attempts since 24y 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 $50k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $63,000

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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.
7. 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.
8. 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: 2.28% ✓
• Cap rate: 18.46%
• Cash-on-cash: 43.46%
• DSCR: 2.93
• GRM: 3.7

CMA / ARV

• ARV (on-the-fly): $196,420
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
504 E Chicago Rd	0.05mi	3/1.5 (-1)	1,700 (-0%)	2mo	$225,000	$132	91
219 S Lakeview St	0.27mi	4/1.0	1,679 (-2%)	4mo	$148,000	$88	79
208 E Electric Ct	0.17mi	3/2.0 (-1)	1,728 (+1%)	5mo	$190,000	$110	79
413 E Congress St	0.29mi	3/2.0 (-1)	1,680 (-2%)	2mo	$165,000	$98	75
605 E West St	0.07mi	3/2.0 (-1)	1,600 (-6%)	6mo	$44,500	$28	74
402 N 4th St	0.40mi	4/2.5	1,664 (-3%)	6mo	$200,000	$120	68
701 N Nottawa St	0.53mi	4/1.0	1,680 (-2%)	8mo	$90,000	$54	63
300 Maplecrest Ave	0.43mi	3/2.5 (-1)	1,628 (-5%)	3mo	$230,000	$141	61
702 N Nottawa St	0.56mi	3/2.0 (-1)	1,782 (+4%)	1mo	$182,000	$102	59
405 Michigan Ave	0.30mi	3/2.0 (-1)	1,531 (-10%)	7mo	$200,000	$131	56
211 N Maple St	0.25mi	5/2.0 (+1)	1,453 (-15%)	4mo	$169,999	$117	54
606 N Fourth St	0.61mi	4/2.0	1,871 (+10%)	1mo	$215,000	$115	53

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: 40.4%
• Equity multiple: 2.73×
• Total profit: $30,537
• Equity at exit: $9,394

10-year hold

• IRR: 46.7%
• Equity multiple: 5.49×
• Total profit: $79,219
• Equity at exit: $5,447

Cash invested: $17,640 (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 49091

• Active inventory: 117
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,435 medium
• Mortgage (P&I): −$330
• Tax from tax record: −$138 /mo · $1,661/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $639

Break-even live

Break-even rent $627

Max offer price $63,000

Occupancy floor 50%

Sensitivity live

Price	-10% $674	-5% $657	+0% $639	+5% $621	+10% $603
Rent	-10% $525	-5% $582	+0% $639	+5% $696	+10% $752
Rate	-1.0pp $671	-0.5pp $655	base $639	+0.5pp $623	+1.0pp $606

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: $15,750
• Closing costs: $1,890
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2024-12-17
   status Pending 103-char remark

   Show marketing remark (103 chars)

   4 bedroom, 1 1/2 bath home located near shopping, schools and Churches. Desirable location, roomy home.

2. 2023-12-01
   status Pending

   Show marketing remark (103 chars)

   4 bedroom, 1 1/2 bath home located near shopping, schools and Churches. Desirable location, roomy home.

3. 2023-12-01
   historical 103-char remark

   Show marketing remark (103 chars)

   4 bedroom, 1 1/2 bath home located near shopping, schools and Churches. Desirable location, roomy home.

4. 2023-12-01
   listed $63,000 103-char remark

   Show marketing remark (103 chars)

   4 bedroom, 1 1/2 bath home located near shopping, schools and Churches. Desirable location, roomy home.

5. 2023-12-01
   listed $63,000 Active

   Show marketing remark (103 chars)

   4 bedroom, 1 1/2 bath home located near shopping, schools and Churches. Desirable location, roomy home.

6. 2023-12-01
   listed $63,000 103-char remark

   Show marketing remark (103 chars)

   4 bedroom, 1 1/2 bath home located near shopping, schools and Churches. Desirable location, roomy home.

7. 2023-12-01
   historical 103-char remark

   Show marketing remark (103 chars)

   4 bedroom, 1 1/2 bath home located near shopping, schools and Churches. Desirable location, roomy home.

8. 2018-04-23
   soldstatus $50,000
9. 2014-09-15
   historical
10. 2014-09-15
    historical
11. 2009-04-24
    soldstatus $44,000
12. 2009-04-24
    soldstatus $44,000
13. 2008-10-31
    listed $34,000
14. 2008-10-31
    listed $34,000
15. 2004-11-09
    soldstatus $107,000
16. 2004-11-09
    soldstatus $107,000
17. 2004-06-09
    listed $109,500
18. 2004-06-09
    listed $109,500
19. 2003-12-01
    historical
20. 2003-05-23
    listed $110,000
21. 2003-05-23
    listed $110,000
22. 2002-12-17
    historical
23. 2002-06-17
    listed $120,000
24. 2002-06-17
    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: $1,661 · $138/mo
• Projected year-2 tax: $1,661 · $138/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 ≥99°F today · 16 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: $17,224
• − Mortgage interest: −$3,529
• − Property taxes: −$1,661
• − Insurance: −$315
• − Repairs & maintenance: −$1,378
• − Management: −$1,378
• − Depreciation: −$1,833
• Taxable income: $7,130
• Est. tax owed @ 24.0%: −$1,711
• After-tax cash flow: $5,955/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: Sturgis Public Schools
• NCES district ID: 2633090
• Math proficiency: 20% ▼ -4.00%
• Reading proficiency: 32% ▼ -6.00%
• Median HH income: $40,702
• Composite: 21.95/100
• National rank: #8220
• State rank: #413 of 540 in MI

Livability — Sturgis

• Score: 73/100
• State rank: #226
• US rank: #5687

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sturgis, MI
• Population (ZIP): 19,448

Population outlook (St. Joseph County) Hauer SSP2

• Today (2025): 58,726 people
• By 2030: 57,030 · -2.9%
• By 2040: 53,266 · -9.3%
• By 2050: 49,343 · -16.0%
• By 2075: 40,441 · -31.1%
• By 2100: 31,981 · -45.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 18% Two or more races 12% Native American 1%
• Hispanic origin (detail): Mexican 18%
• Common ancestry: Italian 10% Romanian 4% Iranian 2%
• Foreign-born: 8% · Canada, China
• Languages at home: 79% English-only · Spanish 16% German/W. Germanic 4%

Political lean MEDSL · St. Joseph

• 2024 margin: Solid R (+34.0) · D 32.2% · R 66.2% · Other 1.5%
• 2008→2024 swing: -31.8pp toward R · 2008: -2.2pp · 2024: -34.0pp
• All cycles: 2024: R+34.0 2020: R+31.7 2016: R+31.0 2012: R+12.3 2008: R+2.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -121.64%
• Current HPI: 205.9474
• 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

-47.5% since first listed

24 events — show timeline

• 2024-12-17 Pending — REALCOMP
• 2023-12-01 Pending — SW Michigan MLS
• 2023-12-01 Listing Removed — MiRealSource-MiMLS
• 2023-12-01 Listed $63,000 MiRealSource-MiMLS
• 2023-12-01 Listed $63,000 SW Michigan MLS
• 2023-12-01 Listed $63,000 REALCOMP
• 2023-12-01 Listing Removed — REALCOMP
• 2018-04-23 Sold (Public Records) $50,000 Public Records
• 2014-09-15 Listing Removed — SW Michigan MLS
• 2014-09-15 Listing Removed — SW Michigan MLS
• 2009-04-24 Sold (MLS) $44,000 REALCOMP
• 2009-04-24 Sold (MLS) $44,000 SW Michigan MLS
• 2008-10-31 Listed $34,000 REALCOMP
• 2008-10-31 Listed $34,000 SW Michigan MLS
• 2004-11-09 Sold (MLS) $107,000 REALCOMP
• 2004-11-09 Sold (MLS) $107,000 SW Michigan MLS
• 2004-06-09 Listed $109,500 REALCOMP
• 2004-06-09 Listed $109,500 SW Michigan MLS
• 2003-12-01 Listing Removed — REALCOMP
• 2003-05-23 Listed $110,000 REALCOMP
• 2003-05-23 Listed $110,000 SW Michigan MLS
• 2002-12-17 Listing Removed — REALCOMP
• 2002-06-17 Listed $120,000 REALCOMP
• 2002-06-17 Listed $120,000 SW Michigan MLS

Property tax history

+1.3%/yr

Latest (2025): $1,661 · -16.3% YoY. Source: county tax records.