412 W Lafayette St · Sturgis, MI 49091

$90,000

3 bd · 1.0 ba · 900 sqft · SingleFamily public records · 1 Days on market

Built 1950 7,405 sqft lot Est $126k · 29% under

---

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 +26.6/30.0
• ARV discount +15.0/15.0
• DSCR +9.1/10.0
• 1% rule +6.8/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Affordable homeownership opportunity in the City of Sturgis! This charming 3-bedroom home offers comfortable living space at a great value. Conveniently located close to schools, parks, shopping, and dining, this property is perfect for first-time buyers, downsizers, or investors. Inside, you'll find spacious bedrooms, and a functional layout. The fenced in back yard provides room to relax, garden, or entertain without excessive maintenance. With affordable pricing and great potential, this home is a must-see for anyone looking to enjoy all that Sturgis has to offer!

Key facts

• Close to parks
• Close to schools
• Close to dining

Tags

• FENCED IN BACK YARD
• CLOSE TO SCHOOLS
• CLOSE TO PARKS
• CLOSE TO SHOPPING
• CLOSE TO DINING

Property features AI

Exterior

• Parking: Detached garage (1 garage space)
• Home design: Ranch-style single family residence; Approximately 900 finished living area; Built in 1950
• Construction: Vinyl siding; Asphalt roof
• Exterior features: Public water; Lot approximately 0.17 acres

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Has cooling
• Interior features: 6 total rooms; Slab foundation (basement: slab)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $241 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Cap rate 9.5% vs local median 4.0% in Sturgis — 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 73/100 on livability (#226 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, crime D-, amenities F.
• Sturgis Public Schools (town): math 20% / reading 32% proficiency, ranked #413 of 540 in MI (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 113 active listings in the ZIP; 125 units permitted in St. Joseph County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• St. Joseph County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 29y 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 $63k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $90,000

Questions for the listing agent

1. Built in 1950 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is D 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?
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: 1.18% ✓
• Cap rate: 9.50%
• Cash-on-cash: 11.47%
• DSCR: 1.51
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $126,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
412 W Lafayette St	0.00mi	3/1.0	900 (0%)	0mo	$90,000	$100	100
614 N Fourth St	0.35mi	3/1.0	850 (-6%)	6mo	$65,900	$78	70
513 N Fourth St	0.41mi	2/1.0 (-1)	916 (+2%)	6mo	$80,000	$87	68
114 Mckee St	0.29mi	2/1.0 (-1)	870 (-3%)	13mo	$143,000	$164	65
502 E Jerolene St	0.47mi	3/1.0	962 (+7%)	7mo	$65,000	$68	61
203 Mckee St	0.26mi	2/1.0 (-1)	816 (-9%)	11mo	$125,000	$153	58
602 Jean Ave	0.48mi	3/1.0	980 (+9%)	6mo	$140,000	$143	57
405 Jean St	0.56mi	3/1.0	816 (-9%)	8mo	$139,000	$170	52
512 Center St	0.53mi	2/1.0 (-1)	997 (+11%)	3mo	$131,979	$132	50
212 N Orange St	0.73mi	3/2.0	862 (-4%)	8mo	$59,100	$69	48
404 Susan Ave	0.64mi	2/1.0 (-1)	800 (-11%)	5mo	$115,000	$144	43
518 Center Ave Ave	0.53mi	2/1.0 (-1)	1,000 (+11%)	11mo	$140,000	$140	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: 0.8%
• Equity multiple: 1.03×
• Total profit: $753
• Equity at exit: $13,419

10-year hold

• IRR: 10.4%
• Equity multiple: 1.81×
• Total profit: $20,405
• Equity at exit: $7,782

Cash invested: $25,200 (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 49091

• Active inventory: 113
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,060 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$87 /mo · $1,041/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $241

Break-even live

Break-even rent $755

Max offer price $90,000

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-05-23
   status Pending 573-char remark

   Show marketing remark (573 chars)

   Affordable homeownership opportunity in the City of Sturgis! This charming 3-bedroom home offers comfortable living space at a great value. Conveniently located close to schools, parks, shopping, and dining, this property is perfect for first-time buyers, downsizers, or investors. Inside, you'll find spacious bedrooms, and a functional layout. The fenced in back yard provides room to relax, garden, or entertain without excessive maintenance. With affordable pricing and great potential, this home is a must-see for anyone looking to enjoy all that Sturgis has to offer!

2. 2026-05-23
   status Pending 573-char remark

   Show marketing remark (573 chars)

   Affordable homeownership opportunity in the City of Sturgis! This charming 3-bedroom home offers comfortable living space at a great value. Conveniently located close to schools, parks, shopping, and dining, this property is perfect for first-time buyers, downsizers, or investors. Inside, you'll find spacious bedrooms, and a functional layout. The fenced in back yard provides room to relax, garden, or entertain without excessive maintenance. With affordable pricing and great potential, this home is a must-see for anyone looking to enjoy all that Sturgis has to offer!

3. 2026-05-23
   status Pending

   Show marketing remark (573 chars)

   Affordable homeownership opportunity in the City of Sturgis! This charming 3-bedroom home offers comfortable living space at a great value. Conveniently located close to schools, parks, shopping, and dining, this property is perfect for first-time buyers, downsizers, or investors. Inside, you'll find spacious bedrooms, and a functional layout. The fenced in back yard provides room to relax, garden, or entertain without excessive maintenance. With affordable pricing and great potential, this home is a must-see for anyone looking to enjoy all that Sturgis has to offer!

4. 2026-05-19
   listed $90,000 Active 573-char remark

   Show marketing remark (573 chars)

   Affordable homeownership opportunity in the City of Sturgis! This charming 3-bedroom home offers comfortable living space at a great value. Conveniently located close to schools, parks, shopping, and dining, this property is perfect for first-time buyers, downsizers, or investors. Inside, you'll find spacious bedrooms, and a functional layout. The fenced in back yard provides room to relax, garden, or entertain without excessive maintenance. With affordable pricing and great potential, this home is a must-see for anyone looking to enjoy all that Sturgis has to offer!

5. 2026-05-19
   listed $90,000 Active 573-char remark

   Show marketing remark (573 chars)

   Affordable homeownership opportunity in the City of Sturgis! This charming 3-bedroom home offers comfortable living space at a great value. Conveniently located close to schools, parks, shopping, and dining, this property is perfect for first-time buyers, downsizers, or investors. Inside, you'll find spacious bedrooms, and a functional layout. The fenced in back yard provides room to relax, garden, or entertain without excessive maintenance. With affordable pricing and great potential, this home is a must-see for anyone looking to enjoy all that Sturgis has to offer!

6. 2026-05-19
   listed $90,000 Active

   Show marketing remark (573 chars)

   Affordable homeownership opportunity in the City of Sturgis! This charming 3-bedroom home offers comfortable living space at a great value. Conveniently located close to schools, parks, shopping, and dining, this property is perfect for first-time buyers, downsizers, or investors. Inside, you'll find spacious bedrooms, and a functional layout. The fenced in back yard provides room to relax, garden, or entertain without excessive maintenance. With affordable pricing and great potential, this home is a must-see for anyone looking to enjoy all that Sturgis has to offer!

7. 2017-09-08
   soldstatus $63,000
8. 2017-09-06
   soldstatus $63,000
9. 2017-09-06
   soldstatus $63,000 Sold
10. 2017-08-03
    status Pending
11. 2017-07-22
    listed $64,900 Active
12. 2017-07-15
    listed $64,900
13. 1997-10-22
    listed $59,900
14. 1997-10-22
    listed $59,900

ⓘ 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: $1,041 · $87/mo
• Projected year-2 tax: $1,213 · $101/mo
• Expected delta: +$173/yr (+$14/mo · 16.6%)

ⓘ 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 ≥99°F today · 16 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: $12,714
• − Mortgage interest: −$5,041
• − Property taxes: −$1,041
• − Insurance: −$450
• − Repairs & maintenance: −$1,017
• − Management: −$1,017
• − Depreciation: −$2,618
• Taxable income: $1,529
• Est. tax owed @ 24.0%: −$367
• After-tax cash flow: $2,523/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: Sturgis Public Schools
• NCES district ID: 2633090
• Math proficiency: 20% ▼ -4.00%
• Reading proficiency: 32% ▼ -6.00%
• Median HH income: $40,702
• Composite: 21.95/100
• National rank: #8220
• State rank: #413 of 540 in MI

Livability — Sturgis

• Score: 73/100
• State rank: #226
• US rank: #5687

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sturgis, MI
• Population (ZIP): 19,448

Population outlook (St. Joseph County) Hauer SSP2

• Today (2025): 58,726 people
• By 2030: 57,030 · -2.9%
• By 2040: 53,266 · -9.3%
• By 2050: 49,343 · -16.0%
• By 2075: 40,441 · -31.1%
• By 2100: 31,981 · -45.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 18% Two or more races 12% Native American 1%
• Hispanic origin (detail): Mexican 18%
• Common ancestry: Italian 10% Romanian 4% Iranian 2%
• Foreign-born: 8% · Canada, China
• Languages at home: 79% English-only · Spanish 16% German/W. Germanic 4%

Political lean MEDSL · St. Joseph

• 2024 margin: Solid R (+34.0) · D 32.2% · R 66.2% · Other 1.5%
• 2008→2024 swing: -31.8pp toward R · 2008: -2.2pp · 2024: -34.0pp
• All cycles: 2024: R+34.0 2020: R+31.7 2016: R+31.0 2012: R+12.3 2008: R+2.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -121.64%
• Current HPI: 205.9474
• 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

+50.3% since first listed

14 events — show timeline

• 2026-05-23 Pending — REALCOMP
• 2026-05-23 Pending — MiRealSource-MiMLS
• 2026-05-23 Pending — SW Michigan MLS
• 2026-05-19 Listed $90,000 SW Michigan MLS
• 2026-05-19 Listed $90,000 MiRealSource-MiMLS
• 2026-05-19 Listed $90,000 REALCOMP
• 2017-09-08 Sold (Public Records) $63,000 Public Records
• 2017-09-06 Sold (MLS) $63,000 SW Michigan MLS
• 2017-09-06 Sold (MLS) $63,000 REALCOMP
• 2017-08-03 Pending — SW Michigan MLS
• 2017-07-22 Listed $64,900 SW Michigan MLS
• 2017-07-15 Listed $64,900 REALCOMP
• 1997-10-22 Listed $59,900 REALCOMP
• 1997-10-22 Listed $59,900 SW Michigan MLS

Property tax history

+2.5%/yr

Latest (2025): $1,041 · -16.2% YoY. Source: county tax records.