1241 Grove Rd · Ypsilanti, MI 48198

$180,000

3 bd · 1.0 ba · 1,524 sqft · SingleFamily · 10 Days on market

Built 1952 6,534 sqft lot Est $242k · 26% under

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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 +23.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.4/10.0
• 1% rule +5.6/10.0
• 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

Opportunity awaits in Ypsilanti Township! This 3-bedroom, 1-bath home offers views of Ford Lake and endless potential for the right buyer. Featuring a functional layout with eat in kitchen, including stainless appliances, a spacious living area and a partially finished basement that provides additional living, recreation, or storage space. Enjoy being conveniently located near parks, shopping, dining, and major commuter routes. Priced below market value, the home does require TLC and updates, making it an excellent opportunity for investors, renovators, or buyers looking to build equity and customize a home to their taste. Whether you're seeking a primary residence, rental property, or renovation project, this home offers a desirable location and great potential. Bring your vision and transform this Ford Lake-view property into something special!

Key facts

• 6,534 sq ft lot
• 2 garage spots
• Built 1952

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Natural gas connected; Cable connected; Public water
• Home design: Ranch-style single family home; Built in 1952; Public water; Property faces unspecified direction
• Construction: Vinyl siding; Shingle roof; Built in 1952; Full basement foundation
• Exterior features: Sidewalk

Interior

• Kitchen: Oven; Range; Microwave; Refrigerator; Freezer; Dishwasher
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Wall-mounted air conditioning units
• Interior features: Eat-in kitchen; Replacement windows with window treatments; Full basement; 6 total rooms
• Laundry & utility: Washer; Dryer; Natural gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $320 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Cap rate 8.4% 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; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 996 units permitted in Washtenaw County in 2024 (492 in 5+ unit buildings).
• This rent runs 36% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Washtenaw County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 10y 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 $133k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $180,000

Questions for the listing agent

1. Built in 1952 — 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: 1.06% ✓
• Cap rate: 8.43%
• Cash-on-cash: 7.62%
• DSCR: 1.34
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $242,316
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1163 Grove Rd	0.12mi	3/1.0	1,458 (-4%)	2mo	$255,000	$175	85
1111 Hull Ave	0.51mi	3/1.0	1,540 (+1%)	5mo	$245,000	$159	70
1476 Foley Ave	0.41mi	3/1.0	1,650 (+8%)	1mo	$230,000	$139	66
1427 Jay Ave	0.40mi	3/1.5	1,600 (+5%)	6mo	$246,000	$154	66
1237 Lester Ave	0.32mi	3/1.5	1,677 (+10%)	2mo	$255,900	$153	64
1179 Coleman St	0.58mi	3/1.0	1,450 (-5%)	4mo	$259,560	$179	61
1132 Juneau Rd	0.32mi	4/2.0 (+1)	1,702 (+12%)	1mo	$300,000	$176	56
1001 Juneau Rd	0.47mi	3/1.5	1,702 (+12%)	6mo	$252,000	$148	52
1586 Foley Ave	0.48mi	3/1.5	1,748 (+15%)	3mo	$222,500	$127	48
1717 Foley Ave	0.66mi	3/1.0	1,375 (-10%)	6mo	$158,000	$115	48
1176 Borgstrom Ave	0.51mi	3/2.0	1,742 (+14%)	1mo	$325,000	$187	47
1202 Jay Ave	0.63mi	3/1.5	1,725 (+13%)	4mo	$284,750	$165	43

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: -3.2%
• Equity multiple: 0.88×
• Total profit: $-6,117
• Equity at exit: $26,839

10-year hold

• IRR: 7.9%
• Equity multiple: 1.64×
• Total profit: $32,170
• 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 48198

• Rents YoY: 4.4%
• Active inventory: 166
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,900 high
• Mortgage (P&I): −$944
• Tax from tax record: −$162 /mo · $1,942/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $320

Break-even live

Break-even rent $1,495

Max offer price $180,000

Occupancy floor 78%

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: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1428 Village Ln Ypsilanti, MI	1.0–2.0	1.0	860	$1,550	$1.80	44d	1	0.47mi
8753 Spinnaker Way Ypsilanti, MI	3.0	1.0–2.0	893	$2,010	$2.25	10d	16	0.64mi
1311 Nash Ave Ypsilanti, MI	3.0	1.0	1200	$1,800	$1.50	18d	1	1.05mi
719 Oswego Ave Ypsilanti, MI	3.0	1.0	1200	$1,800	$1.50	20d	1	1.12mi
2355 Briardale Ct Ypsilanti, MI	3.0	1.0	1200	$1,800	$1.50	44d	1	1.16mi
677 Onandaga Ave Ypsilanti, MI	4.0	2.0	1412	$2,300	$1.63	2d	1	1.17mi

Listing history 8 events

1. 2026-06-15
   status $180,000 Pending 10 DOM
2. 2026-06-15
   days on market $180,000 Active - Contingent 10 DOM
3. 2026-06-13
   days on market $180,000 Active - Contingent 8 DOM
4. 2026-06-10
   status $180,000 Active - Contingent 4 DOM
5. 2026-06-09
   days on market $180,000 Active 4 DOM
6. 2026-06-08
   days on market $180,000 Active 3 DOM
7. 2026-06-07
   remarks 699-char remark
8. 2026-06-07
   listed $180,000 Active 2 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: $1,942 · $162/mo
• Projected year-2 tax: $2,357 · $196/mo
• Expected delta: +$415/yr (+$35/mo · 21.4%)

ⓘ 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 ≥97°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: $22,798
• − Mortgage interest: −$10,083
• − Property taxes: −$1,942
• − Insurance: −$900
• − Repairs & maintenance: −$1,824
• − Management: −$1,824
• − Depreciation: −$5,236
• Taxable income: $989
• Est. tax owed @ 24.0%: −$237
• After-tax cash flow: $3,604/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

+239.6% since first listed

29 events — show timeline

• 2026-06-05 Listed $180,000 REALCOMP
• 2026-06-05 Listed $180,000 SW Michigan MLS
• 2026-06-05 Listed $180,000 MiRealSource-MiMLS
• 2026-06-04 Coming Soon $180,000 MiRealSource-MiMLS
• 2026-06-04 Coming Soon $180,000 SW Michigan MLS
• 2017-01-12 Sold (Public Records) $132,600 Public Records
• 2017-01-10 Pending — AAMLS
• 2017-01-09 Sold (MLS) $132,600 SW Michigan MLS
• 2017-01-09 Sold (MLS) $132,600 MiRealSource-MiMLS
• 2017-01-09 Sold (MLS) $132,600 AAMLS
• 2017-01-09 Sold (MLS) $132,600 REALCOMP
• 2017-01-08 Listing Removed — REALCOMP
• 2017-01-07 Listing Removed — MiRealSource-MiMLS
• 2017-01-07 Delisted — AAMLS
• 2016-12-01 Contingent — MiRealSource-MiMLS
• 2016-12-01 Contingent — REALCOMP
• 2016-12-01 Contingent — AAMLS
• 2016-10-27 Price Changed $127,500 MiRealSource-MiMLS
• 2016-10-27 Price Changed $127,500 REALCOMP
• 2016-10-27 Price Changed $127,500 AAMLS
• 2016-09-27 Price Changed $132,500 MiRealSource-MiMLS
• 2016-09-27 Price Changed $132,500 REALCOMP
• 2016-09-27 Price Changed $132,500 AAMLS
• 2016-08-29 Listed $139,900 MiRealSource-MiMLS
• 2016-08-29 Listed $139,900 REALCOMP
• 2016-08-29 Listed $139,900 AAMLS
• 2016-08-29 Listed $127,500 SW Michigan MLS
• 1993-02-18 Sold (Public Records) $53,000 Public Records
• 1993-02-18 Sold (Public Records) $53,000 Public Records

Property tax history

-0.9%/yr

Latest (2025): $1,942 · -38.8% YoY. Source: county tax records.