109 Wall St · Jackson, MI 49203

$44,900

4 bd · 2.0 ba · 1,743 sqft · SingleFamily · 71 Days on market

Built 1920 8,276 sqft lot $26/sqft · 51% below area ↓ 18% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.4/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Calling all investors! This home has tons of potential and is ready for some TLC! Prime location, minutes to downtown Jackson, Henry Ford Hospital, Campus, andso much more. This home is being sold AS-IS and a licensed real estate agent must be present at all showings.

Key facts

• Henry ford hospital
• Prime location
• 8,276 sq ft lot

Tags

• PRIME LOCATION
• MINUTES TO DOWNTOWN JACKSON
• HENRY FORD HOSPITAL

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $45k).
• Recommended offer: $42k (6.0% below list) — sets the bar for market timing.
• Cap rate 33.9% vs local median 5.4% in Jackson — 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 74/100 on livability (#197 in MI, #4,970 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, crime F, employment F.
• Jackson Public Schools (urban): math 15% / reading 28% proficiency, ranked #458 of 540 in MI (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+7.5%/yr); 164 active listings in the ZIP; 317 units permitted in Jackson County in 2024 (103 in 5+ unit buildings).
• This rent runs 36% of the median local income ($56k/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 $310 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Jackson County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 7.5% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($42k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $10k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $42,206 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 3.79% ✓
• Cap rate: 33.91%
• Cash-on-cash: 98.64%
• DSCR: 5.39
• GRM: 2.2

CMA / ARV

• ARV (median comp): $91,925
• List price: $44,900
• Delta: -51.16%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
209 Damon St	0.18mi	3/2.0 (-1)	1,740 (-0%)	1mo	$190,000	$109	85
1505 Carl Breeding Way	0.16mi	4/2.0	1,607 (-8%)	2mo	$162,000	$101	78
1215 Martin Luther King Jr Dr	0.22mi	3/1.5 (-1)	1,726 (-1%)	10mo	$65,000	$38	72
181 W Prospect St	0.35mi	4/2.0	1,874 (+8%)	3mo	$30,000	$16	68
1616 First St	0.64mi	4/2.0	1,710 (-2%)	2mo	$170,000	$99	65
146 W Mansion St	0.24mi	3/2.0 (-1)	1,608 (-8%)	8mo	$146,000	$91	64
1413 Carl Breeding Way	0.15mi	4/1.5	1,519 (-13%)	8mo	$82,000	$54	62
314 Mitchell St	0.58mi	4/2.0	1,589 (-9%)	1mo	$65,501	$41	57
1238 Greenwood Ave	0.71mi	4/1.0	1,700 (-2%)	2mo	$115,000	$68	57
139 W Mansion St	0.24mi	3/2.0 (-1)	1,548 (-11%)	11mo	$131,000	$85	56
105 Mitchell St	0.50mi	4/2.0	1,999 (+15%)	8mo	$168,500	$84	46
2637 Bow St	0.72mi	3/2.0 (-1)	1,892 (+8%)	9mo	$197,500	$104	40

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 · 7.54% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.30×
• Total profit: $66,693
• Equity at exit: $6,695

10-year hold

• IRR: —
• Equity multiple: 15.28×
• Total profit: $179,553
• Equity at exit: $3,882

Cash invested: $12,572 (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 49203

• Home prices YoY: -31.7%
• Rents YoY: 7.5%
• Active inventory: 164
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $1,701 medium
• Mortgage (P&I): −$235
• Tax est. 1.5%: −$56 /mo · $674/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $1,033

Break-even live

Break-even rent $393

Max offer price $44,900

Occupancy floor 34%

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: $11,225
• Closing costs: $1,347
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $44,900 Active 71 DOM
2. 2026-06-18
   days on market $44,900 Active 70 DOM
3. 2026-06-17
   days on market $44,900 Active 69 DOM
4. 2026-06-16
   days on market $44,900 Active 68 DOM
5. 2026-06-15
   days on market $44,900 Active 67 DOM
6. 2026-06-14
   days on market $44,900 Active 65 DOM
7. 2026-06-13
   days on market $44,900 Active 64 DOM
8. 2026-06-10
   days on market $44,900 Active 62 DOM
9. 2026-06-09
   days on market $44,900 Active 61 DOM
10. 2026-06-08
    days on market $44,900 Active 60 DOM
11. 2026-06-07
    days on market $44,900 Active 59 DOM
12. 2026-06-03
    days on market $44,900 Active 55 DOM
13. 2026-06-02
    days on market $44,900 Active 54 DOM
14. 2026-06-01
    days on market $44,900 Active 53 DOM
15. 2026-05-31
    days on market $44,900 Active 52 DOM
16. 2026-05-30
    days on market $44,900 Active 51 DOM
17. 2026-05-14
    price $44,900 268-char remark

    Show marketing remark (268 chars)

    Calling all investors! This home has tons of potential and is ready for some TLC! Prime location, minutes to downtown Jackson, Henry Ford Hospital, Campus, andso much more. This home is being sold AS-IS and a licensed real estate agent must be present at all showings.

18. 2026-05-13
    price $44,900 268-char remark

    Show marketing remark (268 chars)

    Calling all investors! This home has tons of potential and is ready for some TLC! Prime location, minutes to downtown Jackson, Henry Ford Hospital, Campus, andso much more. This home is being sold AS-IS and a licensed real estate agent must be present at all showings.

19. 2026-05-13
    price $44,900

    Show marketing remark (268 chars)

    Calling all investors! This home has tons of potential and is ready for some TLC! Prime location, minutes to downtown Jackson, Henry Ford Hospital, Campus, andso much more. This home is being sold AS-IS and a licensed real estate agent must be present at all showings.

20. 2026-04-10
    listed $54,900 Active 268-char remark

    Show marketing remark (268 chars)

    Calling all investors! This home has tons of potential and is ready for some TLC! Prime location, minutes to downtown Jackson, Henry Ford Hospital, Campus, andso much more. This home is being sold AS-IS and a licensed real estate agent must be present at all showings.

21. 2026-04-09
    listed $54,900 Active 268-char remark

    Show marketing remark (268 chars)

    Calling all investors! This home has tons of potential and is ready for some TLC! Prime location, minutes to downtown Jackson, Henry Ford Hospital, Campus, andso much more. This home is being sold AS-IS and a licensed real estate agent must be present at all showings.

22. 2026-04-09
    listed $54,900 Active

    Show marketing remark (268 chars)

    Calling all investors! This home has tons of potential and is ready for some TLC! Prime location, minutes to downtown Jackson, Henry Ford Hospital, Campus, andso much more. This home is being sold AS-IS and a licensed real estate agent must be present at all showings.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,411
• − Mortgage interest: −$2,515
• − Property taxes: −$674
• − Insurance: −$224
• − Repairs & maintenance: −$1,633
• − Management: −$1,633
• − Depreciation: −$1,306
• Taxable income: $12,426
• Est. tax owed @ 24.0%: −$2,982
• After-tax cash flow: $9,419/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: Jackson Public Schools
• NCES district ID: 2619620
• Math proficiency: 15% ▼ -6.00%
• Reading proficiency: 28% ▼ -3.00%
• Median HH income: $38,344
• Composite: 17.99/100
• National rank: #8986
• State rank: #458 of 540 in MI

Livability — Jackson

• Score: 74/100
• State rank: #197
• US rank: #4970

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jackson, MI
• County: Jackson County · 85,581 people
• City population: 85,581
• Metro: Jackson, MI
• Population (ZIP): 36,474
• Household income: $56,201
• Rent vs Own: 33.1% rent · 66.9% own
• Severe rent burden: 1383.0

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 156,365 people
• By 2030: 153,123 · -2.1%
• By 2040: 144,981 · -7.3%
• By 2050: 135,671 · -13.2%
• By 2075: 113,833 · -27.2%
• By 2100: 86,592 · -44.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Black 15% Two or more races 9% Hispanic / Latino 5%
• Common ancestry: Romanian 6% Lithuanian 3% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Jackson

• 2024 margin: Strong R (+21.3) · D 38.6% · R 59.9% · Other 1.5%
• 2008→2024 swing: -23.7pp toward R · 2008: 2.4pp · 2024: -21.3pp
• All cycles: 2024: R+21.3 2020: R+19.0 2016: R+20.1 2012: R+5.8 2008: D+2.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -98.09%
• Current HPI: 211.5474
• Rent YoY: ▲ 7.54%
• Metro: Jackson, 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

-18.2% since first listed

6 events — show timeline

• 2026-05-14 Price Changed $44,900 MiRealSource-MiMLS
• 2026-05-13 Price Changed $44,900 REALCOMP
• 2026-05-13 Price Changed $44,900 SW Michigan MLS
• 2026-04-10 Listed $54,900 REALCOMP
• 2026-04-09 Listed $54,900 SW Michigan MLS
• 2026-04-09 Listed $54,900 MiRealSource-MiMLS

Property tax history

+15.0%/yr

Latest (2025): $3,829 · +160.9% YoY. Source: county tax records.