9023 Erie Ave · Richfield, MI 48656

$119,000

3 bd · 1.0 ba · 1,668 sqft · SingleFamily public records · 58 Days on market

Built 1978 8,712 sqft lot $71/sqft · 26% below area Est $161k · 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 +21.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.0/10.0
• 1% rule +5.2/10.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move-in-ready value with major mechanical updates already handled - this 1,600+ sq ft home stands out in Saint Helen for its size, flexibility, and low-maintenance improvements. A newer metal roof, updated well, and recent interior upgrades (appliances, flooring, and carpet) eliminate the big-ticket concerns buyers worry about, while the layout offers the option to function as a 3-bedroom depending on your needs. The fenced yard, garage, and additional storage add everyday usability that's hard to find at this price point. Set up for immediate use with room to personalize over time, this property appeals to buyers looking for space without renovation headaches. With similar homes offering less square footage or lacking key updates, this one positions itself as a smarter buy for anyone wanting a primary residence or up-north getaway without overpaying. Clean title, no major known issues, and a flexible timeline make this an easy transition for the next owner.

Key facts

• Fenced yard
• Updated well
• Newer metal roof

Tags

• NEWER METAL ROOF
• UPDATED WELL
• RECENT INTERIOR UPGRADES
• FENCED YARD
• ADDITIONAL STORAGE

Property features AI

Finance

• Other: Located in LAND OLAKES SUB 6 subdivision; Directions: From I-75, take Exit 222 (M-76/St. Helen Rd). Head west on N St. Helen Rd (M-76) toward St. Helen. Turn right onto Erie Ave. Property is on the right.

Exterior

• Parking: Attached garage (1 car)
• Utilities: Private well water; Septic tank sewer
• Home design: Single-family residence; One story; Entry at ground level
• Construction: Steel siding; Slab foundation; Built area above grade: 1,668 (finished)
• Exterior features: Paved road access; Lot approximately 0.2 acres (70 x 120)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Wall furnace; No central cooling
• Interior features: Ground-level entry; Total of 2 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $187 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).
• Recommended offer: $115k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Roscommon Area Public Schools (rural): math 30% / reading 44% proficiency, ranked #270 of 540 in MI (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Roscommon Elementary School (math 34% / reading 24%, grade F, #866 of 1,397 statewide, top 65%, 266 students, 58% FRL); Roscommon Middle School (math 26% / reading 40%, grade F, #306 of 493 statewide, top 63%, 192 students, 55% FRL); Roscommon High School (math 32% / reading 57%, grade F, #214 of 713 statewide, top 36%, 363 students, 51% FRL) — zoned schools at 55% FRL track the district average.
• Market conditions: 76 active listings in the ZIP; 73 units permitted in Roscommon County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $823 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Roscommon County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($115k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y ago; this cycle's ask has dropped $11k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $115,430 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.02% ✓
• Cap rate: 8.18%
• Cash-on-cash: 6.74%
• DSCR: 1.30
• GRM: 8.1

CMA / ARV

• ARV (median comp): $160,683
• List price: $119,000
• Delta: -25.94%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1232 Bluetick Ln	0.33mi	3/2.0	1,635 (-2%)	16mo	$230,000	$141	64
1232 Bluetick Ln Lot : 72-74	0.33mi	3/2.0	1,635 (-2%)	16mo	$230,000	$141	64
9106 Manistee Rd	0.41mi	3/1.0	1,640 (-2%)	17mo	$165,000	$101	64
1472 Forton St	0.48mi	3/2.0	1,512 (-9%)	23mo	$126,000	$83	39
1144 Tanglewood Dr	0.31mi	2/1.5 (-1)	1,440 (-14%)	22mo	$166,500	$116	37

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: -6.0%
• Equity multiple: 0.78×
• Total profit: $-7,373
• Equity at exit: $17,743

10-year hold

• IRR: 3.7%
• Equity multiple: 1.27×
• Total profit: $8,884
• Equity at exit: $10,289

Cash invested: $33,320 (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 48656

• Home prices YoY: -8.6%
• Active inventory: 76
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,217 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$101 /mo · $1,210/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $187

Break-even live

Break-even rent $980

Max offer price $119,000

Occupancy floor 80%

Sensitivity live

Price	-10% $255	-5% $221	+0% $187	+5% $153	+10% $120
Rent	-10% $91	-5% $139	+0% $187	+5% $235	+10% $283
Rate	-1.0pp $247	-0.5pp $217	base $187	+0.5pp $156	+1.0pp $125

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-21
   days on market $119,000 Active 58 DOM
2. 2026-06-21
   days on market $119,000 Active 57 DOM
3. 2026-06-18
   days on market $119,000 Active 55 DOM
4. 2026-06-17
   days on market $119,000 Active 54 DOM
5. 2026-06-16
   days on market $119,000 Active 53 DOM
6. 2026-06-15
   days on market $119,000 Active 52 DOM
7. 2026-06-13
   days on market $119,000 Active 50 DOM
8. 2026-06-12
   days on market $119,000 Active 49 DOM
9. 2026-06-09
   days on market $119,000 Active 46 DOM
10. 2026-06-08
    days on market $119,000 Active 45 DOM
11. 2026-06-07
    days on market $119,000 Active 44 DOM
12. 2026-06-07
    days on market $119,000 Active 43 DOM
13. 2026-06-04
    days on market $119,000 Active 40 DOM
14. 2026-06-02
    days on market $119,000 Active 39 DOM
15. 2026-06-01
    days on market $119,000 Active 38 DOM
16. 2026-05-31
    days on market $119,000 Active 37 DOM
17. 2026-05-31
    days on market $119,000 Active 36 DOM
18. 2026-05-11
    price $119,000 972-char remark

    Show marketing remark (972 chars)

    Move-in-ready value with major mechanical updates already handled - this 1,600+ sq ft home stands out in Saint Helen for its size, flexibility, and low-maintenance improvements. A newer metal roof, updated well, and recent interior upgrades (appliances, flooring, and carpet) eliminate the big-ticket concerns buyers worry about, while the layout offers the option to function as a 3-bedroom depending on your needs. The fenced yard, garage, and additional storage add everyday usability that's hard to find at this price point. Set up for immediate use with room to personalize over time, this property appeals to buyers looking for space without renovation headaches. With similar homes offering less square footage or lacking key updates, this one positions itself as a smarter buy for anyone wanting a primary residence or up-north getaway without overpaying. Clean title, no major known issues, and a flexible timeline make this an easy transition for the next owner.

19. 2026-05-11
    price $119,000 982-char remark

    Show marketing remark (972 chars)

    Move-in-ready value with major mechanical updates already handled - this 1,600+ sq ft home stands out in Saint Helen for its size, flexibility, and low-maintenance improvements. A newer metal roof, updated well, and recent interior upgrades (appliances, flooring, and carpet) eliminate the big-ticket concerns buyers worry about, while the layout offers the option to function as a 3-bedroom depending on your needs. The fenced yard, garage, and additional storage add everyday usability that's hard to find at this price point. Set up for immediate use with room to personalize over time, this property appeals to buyers looking for space without renovation headaches. With similar homes offering less square footage or lacking key updates, this one positions itself as a smarter buy for anyone wanting a primary residence or up-north getaway without overpaying. Clean title, no major known issues, and a flexible timeline make this an easy transition for the next owner.

20. 2026-05-06
    price $125,000 972-char remark

    Show marketing remark (972 chars)

    Move-in-ready value with major mechanical updates already handled - this 1,600+ sq ft home stands out in Saint Helen for its size, flexibility, and low-maintenance improvements. A newer metal roof, updated well, and recent interior upgrades (appliances, flooring, and carpet) eliminate the big-ticket concerns buyers worry about, while the layout offers the option to function as a 3-bedroom depending on your needs. The fenced yard, garage, and additional storage add everyday usability that's hard to find at this price point. Set up for immediate use with room to personalize over time, this property appeals to buyers looking for space without renovation headaches. With similar homes offering less square footage or lacking key updates, this one positions itself as a smarter buy for anyone wanting a primary residence or up-north getaway without overpaying. Clean title, no major known issues, and a flexible timeline make this an easy transition for the next owner.

21. 2026-05-06
    price $125,000 982-char remark

    Show marketing remark (972 chars)

    Move-in-ready value with major mechanical updates already handled - this 1,600+ sq ft home stands out in Saint Helen for its size, flexibility, and low-maintenance improvements. A newer metal roof, updated well, and recent interior upgrades (appliances, flooring, and carpet) eliminate the big-ticket concerns buyers worry about, while the layout offers the option to function as a 3-bedroom depending on your needs. The fenced yard, garage, and additional storage add everyday usability that's hard to find at this price point. Set up for immediate use with room to personalize over time, this property appeals to buyers looking for space without renovation headaches. With similar homes offering less square footage or lacking key updates, this one positions itself as a smarter buy for anyone wanting a primary residence or up-north getaway without overpaying. Clean title, no major known issues, and a flexible timeline make this an easy transition for the next owner.

22. 2026-04-24
    listed $130,000 Active 972-char remark

    Show marketing remark (972 chars)

    Move-in-ready value with major mechanical updates already handled - this 1,600+ sq ft home stands out in Saint Helen for its size, flexibility, and low-maintenance improvements. A newer metal roof, updated well, and recent interior upgrades (appliances, flooring, and carpet) eliminate the big-ticket concerns buyers worry about, while the layout offers the option to function as a 3-bedroom depending on your needs. The fenced yard, garage, and additional storage add everyday usability that's hard to find at this price point. Set up for immediate use with room to personalize over time, this property appeals to buyers looking for space without renovation headaches. With similar homes offering less square footage or lacking key updates, this one positions itself as a smarter buy for anyone wanting a primary residence or up-north getaway without overpaying. Clean title, no major known issues, and a flexible timeline make this an easy transition for the next owner.

23. 2026-04-24
    listed $130,000 Active 982-char remark

    Show marketing remark (972 chars)

    Move-in-ready value with major mechanical updates already handled - this 1,600+ sq ft home stands out in Saint Helen for its size, flexibility, and low-maintenance improvements. A newer metal roof, updated well, and recent interior upgrades (appliances, flooring, and carpet) eliminate the big-ticket concerns buyers worry about, while the layout offers the option to function as a 3-bedroom depending on your needs. The fenced yard, garage, and additional storage add everyday usability that's hard to find at this price point. Set up for immediate use with room to personalize over time, this property appeals to buyers looking for space without renovation headaches. With similar homes offering less square footage or lacking key updates, this one positions itself as a smarter buy for anyone wanting a primary residence or up-north getaway without overpaying. Clean title, no major known issues, and a flexible timeline make this an easy transition for the next owner.

24. 2022-09-06
    listed $119,900 Active
25. 2007-08-14
    historical
26. 2006-11-14
    listed $44,000

ⓘ 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: $1,210 · $101/mo
• Projected year-2 tax: $1,521 · $127/mo
• Expected delta: +$311/yr (+$26/mo · 25.7%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥92°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,607
• − Mortgage interest: −$6,666
• − Property taxes: −$1,210
• − Insurance: −$595
• − Repairs & maintenance: −$1,169
• − Management: −$1,169
• − Depreciation: −$3,462
• Taxable income: $337
• Est. tax owed @ 24.0%: −$81
• After-tax cash flow: $2,165/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: Roscommon Area Public Schools
• NCES district ID: 2615830
• Math proficiency: 30% ▼ -11.00%
• Reading proficiency: 44% ▼ -2.00%
• Median HH income: $36,914
• Composite: 30.7/100
• National rank: #6172
• State rank: #270 of 540 in MI

Livability — Richfield

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: St. Helen, MI
• Population (ZIP): 3,872

Population outlook (Roscommon County) Hauer SSP2

• Today (2025): 22,249 people
• By 2030: 21,206 · -4.7%
• By 2040: 19,070 · -14.3%
• By 2050: 17,564 · -21.1%
• By 2075: 15,420 · -30.7%
• By 2100: 13,168 · -40.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 2% Black 1% Asian 1%
• Common ancestry: Lithuanian 7% Romanian 7% Slovak 3%
• Foreign-born: 2% · China
• Languages at home: 97% English-only · Spanish 1% Chinese 1% German/W. Germanic 1%

Political lean MEDSL · Roscommon

• 2024 margin: Solid R (+32.9) · D 32.9% · R 65.9% · Other 1.2%
• 2008→2024 swing: -35.5pp toward R · 2008: 2.5pp · 2024: -32.9pp
• All cycles: 2024: R+32.9 2020: R+30.0 2016: R+29.6 2012: R+3.9 2008: D+2.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -29.98%
• Current HPI: 319.603
• 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

+170.5% since first listed

9 events — show timeline

• 2026-05-11 Price Changed $119,000 MiRealSource-MiMLS
• 2026-05-11 Price Changed $119,000 REALCOMP
• 2026-05-06 Price Changed $125,000 MiRealSource-MiMLS
• 2026-05-06 Price Changed $125,000 REALCOMP
• 2026-04-24 Listed $130,000 REALCOMP
• 2026-04-24 Listed $130,000 MiRealSource-MiMLS
• 2022-09-06 Listed $119,900 WWMLS
• 2007-08-14 Listing Removed — MiRealSource-MiMLS
• 2006-11-14 Listed $44,000 MiRealSource-MiMLS

Property tax history

+0.6%/yr

Latest (2025): $1,210 · +1.9% YoY. Source: county tax records.