301 E Fremont Rd

Peck, MI 48454

$176,000D

4 bd · 1.0 ba · 1,634 sqft · Built 1974 · SingleFamily · Active · 59 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,245/mo
• Mortgage (P&I): −$923
• Tax + insurance: −$151
• HOA: −$0
• Vac / Maint / Mgmt: −$261
• Net cashflow: $-91/mo
• Annual: $-1,090/yr
• Cap rate: 5.67%
• Cash-on-cash: -2.21%
• DSCR: 0.90
• 1% rule: 0.71%
• Cash to close: $49,280

Investor read

• This is a 4-bed/1.0-bath single-family listed at $176k.
• At list price, monthly cash flow is $-91 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $160k (9.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $124k (29.3% below list).
• It's been on market 59 days — a 3% lower offer ($171k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $124k (29.3% below list) — sets the bar for 1% rule.
• 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.
• Location reads 64/100 on livability (#502 in MI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Peck Community School District (rural): math 25% / reading 35% proficiency, ranked #532 of 760 in MI (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Peck Community Elem School (math 12% / reading 32%, grade F, #1,035 of 1,397 statewide, top 77%, 178 students, 70% FRL); Peck Jrsr High School (math 12% / reading 22%, grade F, #636 of 713 statewide, top 89%, 197 students, 66% FRL) — zoned schools average 68% FRL vs 44% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 5 active listings in the ZIP; 63 units permitted in Sanilac County in 2024 (0 in 5+ unit buildings).
• Sanilac County population projected at -31% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 15y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $90k; list at $176k implies a 96% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 59 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
• Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.
• 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.