204 E Wood St · Yale, MI 48097

$180,000

4 bd · 1.5 ba · 1,200 sqft · SingleFamily · 7 Days on market

Built 1935 7,841 sqft lot Est $160k · 13% over

---

Why this score? — see what drove the D- 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 +15.3/30.0
• DSCR +4.7/10.0
• Schools +4.4/10.0
• 1% rule +3.4/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.7/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move right in! 4BR, 1.5 bath bungalow-style charmer has great woodwork and gas fireplace in LR. Newer windows, completely updated electric and copper plumbing, kitchen cabines, bath fixtures, floorcoverings and newly finished wood flooring. Fenced yard, 1-car garage, deep basement. All freshly painted and sparkling! Quality renovations throughout! Land Contract Terms possible.

Key facts

• 7,841 sq ft lot
• Garage
• Built 1935

Property features AI

Exterior

• Parking: Detached garage with space for 1 car
• Utilities: Public water; Natural gas heating (forced air)
• Home design: Residential 2-story home; Built in 1935; Basement level present
• Construction: Vinyl siding exterior; Basement foundation; Built in 1935
• Exterior features: Vinyl siding; Paved street access; Approximately 0.18 acre lot with 53' frontage

Interior

• Bedrooms: Entry-level bedroom (11 x 10) with wood floors; Second-level bedroom (10 x 10) with wood floors; Second-level bedroom (approx. 11' wide) with wood floors; Second-level bedroom (10 x 12) with wood floors
• Flooring: Wood flooring in bedrooms; Vinyl flooring in one bathroom; Linoleum flooring in one lavatory
• Bathrooms: Two total baths (one full bathroom and one lavatory); Entry-level bathroom (8 x 7) with vinyl flooring; Second-level lavatory (9 x 5) with linoleum flooring
• Heating & cooling: Forced air heating; Natural gas fuel
• Interior features: Total of 6 rooms; Unfinished basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $67 ($810/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $152k (15.7% below list).
• Recommended offer: $152k (15.7% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 3.5% in Yale — 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 66/100 on livability (#432 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Yale Public Schools (rural): math 40% / reading 62% proficiency, ranked #92 of 540 in MI (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Yale Elementary School (math 47% / reading 57%, grade C-, #328 of 1,397 statewide, top 26%, 341 students, 62% FRL); Yale Junior High School (math 36% / reading 65%, grade C, #110 of 493 statewide, top 23%, 381 students, 48% FRL); Yale Senior High School (math 32% / reading 62%, grade D-, #187 of 713 statewide, top 29%, 551 students, 38% FRL) — zoned schools average 49% FRL vs 33% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 48 active listings in the ZIP; 232 units permitted in St. Clair County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• St. Clair County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 20y ago; this cycle's ask is 201% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $60k; list at $180k implies a 201% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $151,824 (15.7% below list)

Questions for the listing agent

1. Built in 1935 — 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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. 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.
6. 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.
7. 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: 0.84% ✗
• Cap rate: 6.74%
• Cash-on-cash: 1.61%
• DSCR: 1.07
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $159,600
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
304 Jones St	0.23mi	3/1.0 (-1)	1,263 (+5%)	9mo	$170,500	$135	66
125 Clark St	0.46mi	3/1.0 (-1)	1,188 (-1%)	6mo	$235,000	$198	65
206 S Kennefic St	0.10mi	3/1.0 (-1)	1,114 (-7%)	21mo	$45,000	$40	58
102 Jean St	0.46mi	3/1.0 (-1)	1,316 (+10%)	0mo	$375,000	$285	55
206 Arthur St	0.44mi	3/1.0 (-1)	1,353 (+13%)	4mo	$180,000	$133	48
302 N Kennefic St	0.53mi	3/1.0 (-1)	1,288 (+7%)	10mo	$50,000	$39	47
107 Morrell St	0.42mi	4/1.0	1,300 (+8%)	21mo	$195,000	$150	47
219 Clark St	0.55mi	3/2.0 (-1)	1,352 (+13%)	0mo	$180,000	$133	46
106 W 2nd St	0.59mi	3/1.0 (-1)	1,272 (+6%)	15mo	$156,000	$123	42

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: -13.8%
• Equity multiple: 0.51×
• Total profit: $-24,915
• Equity at exit: $26,839

10-year hold

• IRR: -5.0%
• Equity multiple: 0.68×
• Total profit: $-16,346
• Equity at exit: $15,563

Cash invested: $50,400 (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 48097

• Home prices YoY: -17.5%
• Active inventory: 48
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,518 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$113 /mo · $1,356/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $67

Break-even live

Break-even rent $1,433

Max offer price $180,000

Occupancy floor 91%

Sensitivity live

Price	-10% $169	-5% $118	+0% $67	+5% $17	+10% $-34
Rent	-10% $-52	-5% $8	+0% $67	+5% $127	+10% $187
Rate	-1.0pp $158	-0.5pp $113	base $67	+0.5pp $21	+1.0pp $-27

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-13
   statusdays on market $180,000 Pending 7 DOM
2. 2026-06-10
   status $180,000 Active 5 DOM
3. 2026-06-04
   statusdays on market $180,000 Pending 5 DOM
4. 2026-06-03
   days on market $180,000 Active 4 DOM
5. 2026-06-02
   days on market $180,000 Active 3 DOM
6. 2026-06-01
   days on market $180,000 Active 2 DOM
7. 2026-05-31
   statusdays on marketlisting id $180,000 Active 1 DOM
8. 2026-05-27
   historical $180,000
9. 2018-03-01
   soldstatus $59,900
10. 2010-09-14
    soldstatus $59,900 379-char remark

    Show marketing remark (379 chars)

    Move right in! 4BR, 1.5 bath bungalow-style charmer has great woodwork and gas fireplace in LR. Newer windows, completely updated electric and copper plumbing, kitchen cabines, bath fixtures, floorcoverings and newly finished wood flooring. Fenced yard, 1-car garage, deep basement. All freshly painted and sparkling! Quality renovations throughout! Land Contract Terms possible.

11. 2010-08-06
    historical 379-char remark

    Show marketing remark (379 chars)

    Move right in! 4BR, 1.5 bath bungalow-style charmer has great woodwork and gas fireplace in LR. Newer windows, completely updated electric and copper plumbing, kitchen cabines, bath fixtures, floorcoverings and newly finished wood flooring. Fenced yard, 1-car garage, deep basement. All freshly painted and sparkling! Quality renovations throughout! Land Contract Terms possible.

12. 2010-04-15
    listed $59,900 379-char remark

    Show marketing remark (379 chars)

    Move right in! 4BR, 1.5 bath bungalow-style charmer has great woodwork and gas fireplace in LR. Newer windows, completely updated electric and copper plumbing, kitchen cabines, bath fixtures, floorcoverings and newly finished wood flooring. Fenced yard, 1-car garage, deep basement. All freshly painted and sparkling! Quality renovations throughout! Land Contract Terms possible.

13. 2008-11-21
    soldstatus $19,000
14. 2008-11-21
    soldstatus $19,000
15. 2008-11-13
    historical
16. 2008-07-08
    listed $19,900
17. 2008-07-08
    listed $19,900
18. 2007-07-23
    historical
19. 2007-07-23
    historical
20. 2007-02-20
    listed $78,000
21. 2007-02-20
    listed $78,000
22. 2006-10-30
    historical
23. 2006-10-30
    historical
24. 2006-06-12
    listed $93,000
25. 2006-06-12
    listed $93,000

ⓘ 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: $1,356 · $113/mo
• Projected year-2 tax: $2,064 · $172/mo
• Expected delta: +$708/yr (+$59/mo · 52.2%)

ⓘ 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 ≥95°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,219
• − Mortgage interest: −$10,083
• − Property taxes: −$1,356
• − Insurance: −$900
• − Repairs & maintenance: −$1,458
• − Management: −$1,458
• − Depreciation: −$5,236
• Taxable loss: −$2,271
• Est. tax savings @ 24.0%: +$545
• After-tax cash flow: $1,355/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: Yale Public Schools
• NCES district ID: 2636600
• Math proficiency: 40% ▼ -11.00%
• Reading proficiency: 62% ▼ -8.00%
• Median HH income: $53,116
• Composite: 43.83/100
• National rank: #2926
• State rank: #92 of 540 in MI

Livability — Yale

• Score: 66/100
• State rank: #432
• US rank: #12026

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Yale, MI
• County: Saint Clair County · 44,760 people
• City population: 5,418
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 5,418
• Household income: $63,659
• Rent vs Own: 17.9% rent · 82.1% own
• Severe rent burden: 94.0

Population outlook (St. Clair County) Hauer SSP2

• Today (2025): 154,587 people
• By 2030: 150,031 · -2.9%
• By 2040: 138,177 · -10.6%
• By 2050: 124,390 · -19.5%
• By 2075: 95,825 · -38.0%
• By 2100: 68,672 · -55.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Romanian 9% Slovak 4% Lithuanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · St. Clair

• 2024 margin: Solid R (+34.6) · D 32.0% · R 66.6% · Other 1.4%
• 2008→2024 swing: -37.3pp toward R · 2008: 2.6pp · 2024: -34.6pp
• All cycles: 2024: R+34.6 2020: R+30.2 2016: R+31.4 2012: R+7.1 2008: D+2.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -52.26%
• Current HPI: 246.4218
• Rent YoY: —
• Metro: Detroit-Warren-Dearborn, 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

+93.5% since first listed

18 events — show timeline

• 2026-05-27 Coming Soon $180,000 MiRealSource-MiMLS
• 2018-03-01 Sold (Public Records) $59,900 Public Records
• 2010-09-14 Sold (MLS) $59,900 MiRealSource-MiMLS
• 2010-08-06 Listing Removed — MiRealSource-MiMLS
• 2010-04-15 Listed $59,900 MiRealSource-MiMLS
• 2008-11-21 Sold (MLS) $19,000 MiRealSource-MiMLS
• 2008-11-21 Sold (MLS) $19,000 REALCOMP
• 2008-11-13 Listing Removed — MiRealSource-MiMLS
• 2008-07-08 Listed $19,900 MiRealSource-MiMLS
• 2008-07-08 Listed $19,900 REALCOMP
• 2007-07-23 Listing Removed — REALCOMP
• 2007-07-23 Listing Removed — MiRealSource-MiMLS
• 2007-02-20 Listed $78,000 REALCOMP
• 2007-02-20 Listed $78,000 MiRealSource-MiMLS
• 2006-10-30 Listing Removed — MiRealSource-MiMLS
• 2006-10-30 Listing Removed — REALCOMP
• 2006-06-12 Listed $93,000 MiRealSource-MiMLS
• 2006-06-12 Listed $93,000 REALCOMP

Property tax history

+2.8%/yr

Latest (2025): $1,356 · +4.0% YoY. Source: county tax records.