3124 E Round Lake Rd · Bath, MI 48820

$189,900

4 bd · 1.5 ba · 1,080 sqft · SingleFamily public records · 8 Days on market

Built 1965 0.51 ac lot $176/sqft · 10% below area Est $296k · 36% 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 +26.5/30.0
• ARV discount +15.0/15.0
• DSCR +9.0/10.0
• 1% rule +5.9/10.0
• Livability +3.5/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

In receipt of Multiple Offers - Highest and Best Due Thursday, May 7 no later than 9:00 am Charming home - 4-bedroom Cape Cod with 1.5 baths and 1,080 sq ft of living space. This well maintained home offers a cozy yet functional layout. Living area with newer carpet (Hardwood underneath)Large kitchen/dining , oak cabinetry, newer white appliances, Hardwood Floors. Lower level: electric fireplace, Work bench, storage, washer/dryer, water filtration system. Generac back up system, solar panels, paved driveway with extra pad, large shed Olive Twp taxes. St. John Schools Open House, Tuesday, May 5th, 3:00 pm - 4:30 pm

Key facts

• 0.51 acre lot
• Built 1965
• Listed 8 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $500 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Cap rate 9.5% vs local median 2.0% in Bath — 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 69/100 on livability (#335 in MI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Bath Community Schools (suburban): math 25% / reading 47% proficiency, ranked #247 of 540 in MI (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 103 active listings in the ZIP; high-income renter base; 154 units permitted in Clinton 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 $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 8 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.

Recommended offer $189,900

Questions for the listing agent

1. Built in 1965 — 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. 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: 1.09% ✓
• Cap rate: 9.45%
• Cash-on-cash: 11.29%
• DSCR: 1.50
• GRM: 7.7

CMA / ARV

• ARV (median comp): $296,274
• List price: $189,900
• Delta: -35.90%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 0.5%
• Equity multiple: 1.02×
• Total profit: $1,004
• Equity at exit: $28,315

10-year hold

• IRR: 10.1%
• Equity multiple: 1.78×
• Total profit: $41,569
• Equity at exit: $16,419

Cash invested: $53,172 (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 48820

• Active inventory: 103
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,066 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$57 /mo · $683/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$434
• Net cashflow: $500

Break-even live

Break-even rent $1,433

Max offer price $189,900

Occupancy floor 71%

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-13
   status Pending 627-char remark

   Show marketing remark (629 chars)

   In receipt of Multiple Offers - Highest and Best Due Thursday, May 7 no later than 9:00 am Charming home - 4-bedroom Cape Cod with 1.5 baths and 1,080 sq ft of living space. This well maintained home offers a cozy yet functional layout. Living area with newer carpet (Hardwood underneath)Large kitchen/dining , oak cabinetry, newer white appliances, Hardwood Floors. Lower level: electric fireplace, Work bench, storage, washer/dryer, water filtration system. Generac back up system, solar panels, paved driveway with extra pad, large shed Olive Twp taxes. St. John Schools Open House, Tuesday, May 5th, 3:00 pm - 4:30 pm

2. 2026-05-13
   status Pending 629-char remark

   Show marketing remark (629 chars)

   In receipt of Multiple Offers - Highest and Best Due Thursday, May 7 no later than 9:00 am Charming home - 4-bedroom Cape Cod with 1.5 baths and 1,080 sq ft of living space. This well maintained home offers a cozy yet functional layout. Living area with newer carpet (Hardwood underneath)Large kitchen/dining , oak cabinetry, newer white appliances, Hardwood Floors. Lower level: electric fireplace, Work bench, storage, washer/dryer, water filtration system. Generac back up system, solar panels, paved driveway with extra pad, large shed Olive Twp taxes. St. John Schools Open House, Tuesday, May 5th, 3:00 pm - 4:30 pm

3. 2026-05-08
   historical Active Under Contract 627-char remark

   Show marketing remark (629 chars)

   In receipt of Multiple Offers - Highest and Best Due Thursday, May 7 no later than 9:00 am Charming home - 4-bedroom Cape Cod with 1.5 baths and 1,080 sq ft of living space. This well maintained home offers a cozy yet functional layout. Living area with newer carpet (Hardwood underneath)Large kitchen/dining , oak cabinetry, newer white appliances, Hardwood Floors. Lower level: electric fireplace, Work bench, storage, washer/dryer, water filtration system. Generac back up system, solar panels, paved driveway with extra pad, large shed Olive Twp taxes. St. John Schools Open House, Tuesday, May 5th, 3:00 pm - 4:30 pm

4. 2026-05-08
   historical Active Under Contract 629-char remark

   Show marketing remark (629 chars)

   In receipt of Multiple Offers - Highest and Best Due Thursday, May 7 no later than 9:00 am Charming home - 4-bedroom Cape Cod with 1.5 baths and 1,080 sq ft of living space. This well maintained home offers a cozy yet functional layout. Living area with newer carpet (Hardwood underneath)Large kitchen/dining , oak cabinetry, newer white appliances, Hardwood Floors. Lower level: electric fireplace, Work bench, storage, washer/dryer, water filtration system. Generac back up system, solar panels, paved driveway with extra pad, large shed Olive Twp taxes. St. John Schools Open House, Tuesday, May 5th, 3:00 pm - 4:30 pm

5. 2026-05-05
   listed $189,900 Active 627-char remark

   Show marketing remark (629 chars)

   In receipt of Multiple Offers - Highest and Best Due Thursday, May 7 no later than 9:00 am Charming home - 4-bedroom Cape Cod with 1.5 baths and 1,080 sq ft of living space. This well maintained home offers a cozy yet functional layout. Living area with newer carpet (Hardwood underneath)Large kitchen/dining , oak cabinetry, newer white appliances, Hardwood Floors. Lower level: electric fireplace, Work bench, storage, washer/dryer, water filtration system. Generac back up system, solar panels, paved driveway with extra pad, large shed Olive Twp taxes. St. John Schools Open House, Tuesday, May 5th, 3:00 pm - 4:30 pm

6. 2026-05-05
   listed $189,900 Active 629-char remark

   Show marketing remark (629 chars)

   In receipt of Multiple Offers - Highest and Best Due Thursday, May 7 no later than 9:00 am Charming home - 4-bedroom Cape Cod with 1.5 baths and 1,080 sq ft of living space. This well maintained home offers a cozy yet functional layout. Living area with newer carpet (Hardwood underneath)Large kitchen/dining , oak cabinetry, newer white appliances, Hardwood Floors. Lower level: electric fireplace, Work bench, storage, washer/dryer, water filtration system. Generac back up system, solar panels, paved driveway with extra pad, large shed Olive Twp taxes. St. John Schools Open House, Tuesday, May 5th, 3:00 pm - 4:30 pm

7. 2026-04-20
   historical $189,900 629-char remark

   Show marketing remark (629 chars)

   In receipt of Multiple Offers - Highest and Best Due Thursday, May 7 no later than 9:00 am Charming home - 4-bedroom Cape Cod with 1.5 baths and 1,080 sq ft of living space. This well maintained home offers a cozy yet functional layout. Living area with newer carpet (Hardwood underneath)Large kitchen/dining , oak cabinetry, newer white appliances, Hardwood Floors. Lower level: electric fireplace, Work bench, storage, washer/dryer, water filtration system. Generac back up system, solar panels, paved driveway with extra pad, large shed Olive Twp taxes. St. John Schools Open House, Tuesday, May 5th, 3:00 pm - 4:30 pm

ⓘ 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: $683 · $57/mo
• Projected year-2 tax: $1,804 · $150/mo
• Expected delta: +$1,121/yr (+$93/mo · 164.1%)

ⓘ 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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,791
• − Mortgage interest: −$10,637
• − Property taxes: −$683
• − Insurance: −$950
• − Repairs & maintenance: −$1,983
• − Management: −$1,983
• − Depreciation: −$5,524
• Taxable income: $3,030
• Est. tax owed @ 24.0%: −$727
• After-tax cash flow: $5,275/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: Bath Community Schools
• NCES district ID: 2604170
• Math proficiency: 25% ▼ -12.00%
• Reading proficiency: 47% ▼ -4.00%
• Median HH income: $57,276
• Composite: 31.78/100
• National rank: #5889
• State rank: #247 of 540 in MI

Livability — Bath

• Score: 69/100
• State rank: #335
• US rank: #8214

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Clinton County · 18,357 people
• City population: 6,424
• Metro: Lansing-East Lansing, MI
• Population (ZIP): 18,357
• Household income: $112,526
• Rent vs Own: 14.5% rent · 85.5% own
• Severe rent burden: 183.0

Population outlook (Clinton County) Hauer SSP2

• Today (2025): 81,490 people
• By 2030: 82,558 · +1.3%
• By 2040: 82,325 · +1.0%
• By 2050: 79,133 · -2.9%
• By 2075: 65,737 · -19.3%
• By 2100: 51,314 · -37.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 5% Black 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 3%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Clinton

• 2024 margin: Lean R (+8.6) · D 44.9% · R 53.5% · Other 1.5%
• 2008→2024 swing: -9.3pp toward R · 2008: 0.7pp · 2024: -8.6pp
• All cycles: 2024: R+8.6 2020: R+6.5 2016: R+12.7 2012: R+6.2 2008: D+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -167.50%
• Current HPI: 231.0122
• Rent YoY: —
• Metro: Lansing-East Lansing, 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

7 events — show timeline

• 2026-05-13 Pending — REALCOMP
• 2026-05-13 Pending — Greater Lansing AoR
• 2026-05-08 Contingent — REALCOMP
• 2026-05-08 Contingent — Greater Lansing AoR
• 2026-05-05 Listed $189,900 REALCOMP
• 2026-05-05 Listed $189,900 Greater Lansing AoR
• 2026-04-20 Coming Soon $189,900 Greater Lansing AoR

Property tax history

-2.8%/yr

Latest (2025): $683 · -53.0% YoY. Source: county tax records.