5384 Holmes Hwy · Eaton Rapids, MI 48827

$85,000

3 bd · 1.0 ba · 1,368 sqft · SingleFamily public records · 1 Days on market

0.83 ac lot

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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 +26.6/30.0
• DSCR +9.1/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Livability +3.7/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• 0.83 acre lot
• Garage

Property features AI

Exterior

• Parking: Detached garage (1 car)
• Utilities: Well water
• Home design: Single family residence; Residential property
• Construction: Vinyl siding construction; Built in 0 (year not specified)
• Exterior features: Vinyl siding; 0.83-acre lot; Well water

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Has cooling
• Interior features: 6 total rooms; Partial Michigan-style basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $226 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Cap rate 9.5% vs local median 1.9% in Eaton Rapids — 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 74/100 on livability (#182 in MI, #4,624 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: schools D+, amenities F, commute F.
• Eaton Rapids Public Schools (town): math 22% / reading 42% proficiency, ranked #315 of 540 in MI (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 110 active listings in the ZIP; 98 units permitted in Eaton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Eaton County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 9y 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 $66k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $85,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
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: 1.23% ✓
• Cap rate: 9.49%
• Cash-on-cash: 11.42%
• DSCR: 1.51
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 0.7%
• Equity multiple: 1.03×
• Total profit: $670
• Equity at exit: $12,674

10-year hold

• IRR: 10.4%
• Equity multiple: 1.81×
• Total profit: $19,242
• Equity at exit: $7,349

Cash invested: $23,800 (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 48827

• Home prices YoY: -31.0%
• Active inventory: 110
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,043 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$116 /mo · $1,394/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$219
• Net cashflow: $226

Break-even live

Break-even rent $756

Max offer price $85,000

Occupancy floor 73%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-06-10
   listed $85,000 Pending 1 DOM

ⓘ 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: $1,394 · $116/mo
• Projected year-2 tax: $1,394 · $116/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 ≥98°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: $12,513
• − Mortgage interest: −$4,761
• − Property taxes: −$1,394
• − Insurance: −$425
• − Repairs & maintenance: −$1,001
• − Management: −$1,001
• − Depreciation: −$2,473
• Taxable income: $1,458
• Est. tax owed @ 24.0%: −$350
• After-tax cash flow: $2,367/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: Eaton Rapids Public Schools
• NCES district ID: 2612690
• Math proficiency: 22% ▼ -7.00%
• Reading proficiency: 42% ▼ -5.00%
• Median HH income: $58,195
• Composite: 28.57/100
• National rank: #6723
• State rank: #315 of 540 in MI

Livability — Eaton Rapids

• Score: 74/100
• State rank: #182
• US rank: #4624

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 16,070
• Population (ZIP): 16,070

Population outlook (Eaton County) Hauer SSP2

• Today (2025): 110,811 people
• By 2030: 110,598 · -0.2%
• By 2040: 108,304 · -2.3%
• By 2050: 104,961 · -5.3%
• By 2075: 97,197 · -12.3%
• By 2100: 85,150 · -23.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 5% Two or more races 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Iranian 3% Lithuanian 3% Romanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Eaton

• 2024 margin: Toss-up / Even · D 47.6% · R 50.8% · Other 1.6%
• 2008→2024 swing: -11.6pp toward R · 2008: 8.4pp · 2024: -3.1pp
• All cycles: 2024: R+3.1 2020: R+0.8 2016: R+5.5 2012: D+3.1 2008: D+8.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -89.65%
• Current HPI: 199.257
• 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

+41.9% since first listed

11 events — show timeline

• 2026-06-09 Pending — SW Michigan MLS
• 2026-06-09 Listing Removed — REALCOMP
• 2026-06-09 Listed $85,000 REALCOMP
• 2026-06-09 Listed $85,000 MiRealSource-MiMLS
• 2026-06-09 Listing Removed — MiRealSource-MiMLS
• 2026-06-09 Listed $85,000 SW Michigan MLS
• 2017-12-13 Sold (Public Records) $66,000 Public Records
• 2017-11-17 Sold (MLS) $66,000 Greater Lansing AoR
• 2017-11-17 Sold (MLS) $66,000 REALCOMP
• 2017-09-08 Listed $59,900 Greater Lansing AoR
• 2017-09-08 Listed $59,900 REALCOMP

Property tax history

+6.1%/yr

Latest (2025): $1,394 · +4.9% YoY. Source: county tax records.