506 Hollis Ave · Ypsilanti, MI 48198

$100,000

2 bd · 1.5 ba · 712 sqft · SingleFamily · 1 Days on market

Built 1946 6,098 sqft lot Est $142k · 30% 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 +27.4/30.0
• ARV discount +15.0/15.0
• DSCR +9.6/10.0
• 1% rule +7.6/10.0
• Livability +4.0/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor opportunity for a cash only sale, home being sold in as-is condition and requires waiver to show due to condition. 2 bedroom ranch home with main floor full bath located on fenced corner lot just a few blocks from Prospect Park and Depot Town. Full basement with laundry and half bath. Garage is attached with breezeway entry. BTVAI.

Key facts

• Breezeway entry
• Attached garage
• Full basement

Tags

• FENCED CORNER LOT
• FULL BASEMENT
• ATTACHED GARAGE
• BREEZEWAY ENTRY

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water
• Home design: Ranch-style single-family home; Single story; Built in 1946
• Construction: Aluminum siding construction
• Exterior features: Aluminum siding; 0.14-acre lot; Public water

Interior

• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Baseboard heating
• Interior features: Five total rooms; Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $292 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Cap rate 9.8% vs local median 4.0% in Ypsilanti — 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 81/100 on livability (#71 in MI, #1,539 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment D-.
• Ypsilanti Community Schools (suburban): math 11% / reading 20% proficiency, ranked #501 of 540 in MI (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.4%/yr); 166 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% of comp listings sitting > 30 days — soft ceiling on asking rent; 996 units permitted in Washtenaw County in 2024 (492 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Washtenaw County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 4.4% rent growth), your $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $100,000

Questions for the listing agent

1. Built in 1946 — 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. Crime grade is F 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?
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: 1.26% ✓
• Cap rate: 9.79%
• Cash-on-cash: 12.50%
• DSCR: 1.56
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $142,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
580 Bagley Ave	0.08mi	2/1.0	696 (-2%)	6mo	$157,000	$226	86
318 Miles St	0.52mi	2/1.0	700 (-2%)	2mo	$15,000	$21	70
717 E Cross St	0.33mi	2/1.0	720 (+1%)	23mo	$203,000	$282	61
651 N Ivanhoe Ave	0.28mi	2/1.0	764 (+7%)	16mo	$168,000	$220	60
1099 Hawthorne Ave	0.58mi	2/1.0	725 (+2%)	10mo	$163,177	$225	60
1198 Hawthorne Ave	0.64mi	2/1.0	700 (-2%)	11mo	$195,000	$279	56
909 Maplewood Ave	0.70mi	2/1.0	727 (+2%)	8mo	$76,519	$105	56
167 N Ford Blvd	0.58mi	2/1.0	780 (+10%)	3mo	$155,000	$199	53
435 E Grand Blvd	0.51mi	3/1.0 (+1)	780 (+10%)	3mo	$145,000	$186	51
739 Mildred St	0.74mi	2/1.0	700 (-2%)	12mo	$140,000	$200	51
157 Jerome Ave	0.72mi	2/1.0	720 (+1%)	15mo	$143,500	$199	50
25 Ypsi Ct	0.45mi	1/1.0 (-1)	667 (-6%)	14mo	$10,000	$15	50

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 · 4.38% rent growth · sell at horizon

5-year hold

• IRR: 3.8%
• Equity multiple: 1.15×
• Total profit: $4,178
• Equity at exit: $14,910

10-year hold

• IRR: 14.6%
• Equity multiple: 2.26×
• Total profit: $35,162
• Equity at exit: $8,646

Cash invested: $28,000 (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 48198

• Rents YoY: 4.4%
• Active inventory: 166
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,260 high
• Mortgage (P&I): −$524
• Tax from tax record: −$138 /mo · $1,654/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $292

Break-even live

Break-even rent $891

Max offer price $100,000

Occupancy floor 72%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
506 N Miami Ave Ypsilanti, MI	1.0	1.0	600	$966	$1.61	43d	1	0.41mi
232 Miles St Ypsilanti, MI	2.0	1.0	696	$1,400	$2.01	5d	1	0.48mi
208 N Prospect Rd Ypsilanti, MI	2.0	1.0	750	$1,200	$1.60	43d	1	0.57mi
1176 Hawthorne Ave Ypsilanti, MI	2.0	1.0	720	$1,400	$1.94	24d	1	0.62mi
211 Olive St Unit 2 Ypsilanti, MI	1.0	1.0	500	$1,045	$2.09	43d	1	1.21mi
206 S Huron St Ypsilanti, MI	2.0	1.0	650	$1,240	$1.91	43d	1	1.25mi
212 Ferris St Unit 2125 Ypsilanti, MI	1.0	1.0	726	$1,095	$1.51	24d	1	1.29mi
422 N Hamilton St Unit 1 Ypsilanti, MI	1.0	1.0	510	$900	$1.76	43d	1	1.30mi
434 N Hamilton St Unit 1 Ypsilanti, MI	1.0	1.0	410	$1,100	$2.68	43d	1	1.30mi
119 N Hamilton St Unit 2 Ypsilanti, MI	1.0	1.0	400	$1,050	$2.62	20d	1	1.35mi
421 Emmet St Ypsilanti, MI	3.0	2.0	676	$1,400	$2.07	18d	1	1.39mi
417 Pearl St Ypsilanti, MI	2.0	1.0	680	$1,090	$1.60	18d	1	1.41mi
505 Emmet St Ypsilanti, MI	1.0	1.0	435	$925	$2.13	18d	1	1.42mi
115 Ballard St Unit 3 Ypsilanti, MI	1.0	1.0	600	$830	$1.38	43d	1	1.43mi
1428 Village Ln Ypsilanti, MI	1.0–2.0	1.0	860	$1,550	$1.80	43d	1	1.44mi
669 Woburn Dr Ypsilanti, MI	1.0–3.0	1.0–2.0	911	$1,375	$1.51	43d	1	1.47mi
513 Pearl St Ypsilanti, MI	1.0	1.0	367	$985	$2.68	16d	1	1.49mi

Listing history 2 events

1. 2026-06-19
   remarks 342-char remark
2. 2026-06-19
   listed $100,000 Active 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: $1,654 · $138/mo
• Projected year-2 tax: $1,654 · $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 3/10 Moderate 7 d/yr ≥98°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: $15,124
• − Mortgage interest: −$5,602
• − Property taxes: −$1,654
• − Insurance: −$500
• − Repairs & maintenance: −$1,210
• − Management: −$1,210
• − Depreciation: −$2,909
• Taxable income: $2,039
• Est. tax owed @ 24.0%: −$489
• After-tax cash flow: $3,012/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: Ypsilanti Community Schools
• NCES district ID: 2636630
• Math proficiency: 11% ▼ -8.00%
• Reading proficiency: 20% ▼ -3.00%
• Median HH income: $37,759
• Composite: 12.98/100
• National rank: #9572
• State rank: #501 of 540 in MI

Livability — Ypsilanti

• Score: 81/100
• State rank: #71
• US rank: #1539

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Washtenaw County · 306,860 people
• City population: 105,769
• Metro: Ann Arbor, MI
• Population (ZIP): 39,244
• Household income: $63,326
• Rent vs Own: 42.5% rent · 57.5% own
• Severe rent burden: 1998.0

Population outlook (Washtenaw County) Hauer SSP2

• Today (2025): 402,878 people
• By 2030: 424,104 · +5.3%
• By 2040: 464,633 · +15.3%
• By 2050: 504,728 · +25.3%
• By 2075: 614,463 · +52.5%
• By 2100: 676,181 · +67.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 48% Black 32% Two or more races 11% Hispanic / Latino 8% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 3% Italian 2% Slovak 2%
• Foreign-born: 9% · Canada, China, South Korea
• Languages at home: 88% English-only · Spanish 7% Other Indo-European 1% Arabic 1%

Political lean MEDSL · Washtenaw

• 2024 margin: Solid D (+44.4) · D 71.0% · R 26.6% · Other 2.4%
• 2008→2024 swing: +3.5pp toward D · 2008: 41.0pp · 2024: 44.4pp
• All cycles: 2024: D+44.4 2020: D+46.6 2016: D+41.5 2012: D+36.0 2008: D+41.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -224.96%
• Current HPI: 204.1228
• Rent YoY: ▲ 4.38%
• Metro: Ann Arbor, MI
• 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

+0.0% since first listed

3 events — show timeline

• 2026-06-18 Listed $100,000 REALCOMP
• 2026-06-18 Listed $100,000 MiRealSource-MiMLS
• 2026-06-18 Listed $100,000 SW Michigan MLS

Property tax history

+1.6%/yr

Latest (2016): $1,654 · +3.6% YoY. Source: county tax records.