73385 Floral St · Armada, MI 48005

$175,000

3 bd · 1.0 ba · 1,122 sqft · SingleFamily public records · 134 Days on market

Built 1890 10,454 sqft lot $156/sqft · 34% below area Est $265k · 34% 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 +15.2/30.0
• ARV discount +15.0/15.0
• Schools +5.1/10.0
• DSCR +4.7/10.0
• Livability +3.9/5.0
• 1% rule +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This investor-friendly gem offers 3 bedrooms, 1 bath, and a roomy 2.5 car garage—ideal for hobbyists or extra storage. The house is being sold as-is and is ready for your creative ideas

Key facts

• 0.24 acre lot
• 2 garage spots
• Built 1890

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $61 ($732/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $150k (14.3% below list).
• Recommended offer: $150k (14.3% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 2.3% in Armada — 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 77/100 on livability (#125 in MI, #3,093 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Armada Area Schools (rural): math 53% / reading 62% proficiency, ranked #48 of 540 in MI (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: 39 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,321 units permitted in Macomb County in 2024 (86 in 5+ unit buildings).

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.
• Macomb County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 134 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 30y ago; this cycle's ask has dropped $25k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $90k; list at $175k implies a 94% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $149,900 (14.3% below list)

Questions for the listing agent

1. It's been on market 134 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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.
7. 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.
8. 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: 0.86% ✗
• Cap rate: 6.71%
• Cash-on-cash: 1.49%
• DSCR: 1.07
• GRM: 9.7

CMA / ARV

• ARV (median comp): $265,463
• List price: $175,000
• Delta: -34.08%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
73341 Floral St	0.02mi	3/1.0	1,135 (+1%)	12mo	$207,000	$182	87
73435 Church St	0.08mi	3/1.0	1,215 (+8%)	5mo	$215,000	$177	78
73681 Church St	0.16mi	3/1.5	1,222 (+9%)	3mo	$245,000	$200	73
74220 1st St	0.42mi	2/1.5 (-1)	1,136 (+1%)	2mo	$280,000	$246	70
73475 Floral St	0.05mi	2/1.0 (-1)	1,225 (+9%)	10mo	$239,900	$196	69
23154 Torrey St	0.27mi	3/1.0	1,217 (+8%)	9mo	$275,000	$226	66

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: -13.9%
• Equity multiple: 0.50×
• Total profit: $-24,501
• Equity at exit: $26,093

10-year hold

• IRR: -5.1%
• Equity multiple: 0.66×
• Total profit: $-16,453
• Equity at exit: $15,131

Cash invested: $49,000 (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 48005

• Home prices YoY: -31.9%
• Active inventory: 39
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,499 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$133 /mo · $1,591/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $61

Break-even live

Break-even rent $1,422

Max offer price $175,000

Occupancy floor 91%

Sensitivity live

Price	-10% $160	-5% $111	+0% $61	+5% $11	+10% $-38
Rent	-10% $-57	-5% $2	+0% $61	+5% $120	+10% $179
Rate	-1.0pp $149	-0.5pp $106	base $61	+0.5pp $16	+1.0pp $-30

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23057 E Main St Armada, MI	2.0	1.0	1100	$1,499	$1.36	15d	1	0.44mi

Listing history 27 events

1. 2026-06-21
   days on market $175,000 Active 134 DOM
2. 2026-06-18
   days on market $175,000 Active 132 DOM
3. 2026-06-17
   days on market $175,000 Active 131 DOM
4. 2026-06-16
   days on market $175,000 Active 130 DOM
5. 2026-06-15
   days on market $175,000 Active 129 DOM
6. 2026-06-13
   days on market $175,000 Active 127 DOM
7. 2026-06-12
   days on market $175,000 Active 126 DOM
8. 2026-06-09
   days on market $175,000 Active 123 DOM
9. 2026-06-08
   days on market $175,000 Active 122 DOM
10. 2026-06-07
    days on market $175,000 Active 121 DOM
11. 2026-06-07
    days on market $175,000 Active 120 DOM
12. 2026-06-04
    days on market $175,000 Active 117 DOM
13. 2026-06-02
    days on market $175,000 Active 116 DOM
14. 2026-06-01
    days on market $175,000 Active 115 DOM
15. 2026-05-31
    days on market $175,000 Active 114 DOM
16. 2026-05-31
    days on market $175,000 Active 113 DOM
17. 2026-03-13
    price $180,000 191-char remark

    Show marketing remark (191 chars)

    This investor-friendly gem offers 3 bedrooms, 1 bath, and a roomy 2.5 car garage—ideal for hobbyists or extra storage. The house is being sold as-is and is ready for your creative ideas

18. 2026-03-12
    price $180,000 185-char remark

    Show marketing remark (185 chars)

    This investor-friendly gem offers 3 bedrooms, 1 bath, and a roomy 2.5 car garage-ideal for hobbyists or extra storage. The house is being sold as-is and is ready for your creative ideas

19. 2026-02-19
    price $190,000 191-char remark

    Show marketing remark (185 chars)

    This investor-friendly gem offers 3 bedrooms, 1 bath, and a roomy 2.5 car garage-ideal for hobbyists or extra storage. The house is being sold as-is and is ready for your creative ideas

20. 2026-02-19
    price $190,000 185-char remark

    Show marketing remark (185 chars)

    This investor-friendly gem offers 3 bedrooms, 1 bath, and a roomy 2.5 car garage-ideal for hobbyists or extra storage. The house is being sold as-is and is ready for your creative ideas

21. 2026-02-06
    listed $200,000 Active 185-char remark

    Show marketing remark (191 chars)

    This investor-friendly gem offers 3 bedrooms, 1 bath, and a roomy 2.5 car garage—ideal for hobbyists or extra storage. The house is being sold as-is and is ready for your creative ideas

22. 2026-02-06
    listed $200,000 Active 191-char remark

    Show marketing remark (191 chars)

    This investor-friendly gem offers 3 bedrooms, 1 bath, and a roomy 2.5 car garage—ideal for hobbyists or extra storage. The house is being sold as-is and is ready for your creative ideas

23. 1996-07-15
    soldstatus $90,000
24. 1996-05-29
    soldstatus $90,000
25. 1996-04-23
    historical
26. 1996-03-26
    listed $92,900
27. 1989-01-09
    soldstatus $62,888

ⓘ 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: $1,591 · $133/mo
• Projected year-2 tax: $2,143 · $179/mo
• Expected delta: +$552/yr (+$46/mo · 34.7%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,988
• − Mortgage interest: −$9,803
• − Property taxes: −$1,591
• − Insurance: −$875
• − Repairs & maintenance: −$1,439
• − Management: −$1,439
• − Depreciation: −$5,091
• Taxable loss: −$2,249
• Est. tax savings @ 24.0%: +$540
• After-tax cash flow: $1,272/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: Armada Area Schools
• NCES district ID: 2603240
• Math proficiency: 53% ▲ 3.00%
• Reading proficiency: 62% ▬ 0.00%
• Median HH income: $69,135
• Composite: 50.8/100
• National rank: #1805
• State rank: #48 of 540 in MI

Livability — Armada

• Score: 77/100
• State rank: #125
• US rank: #3093

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Armada, MI
• Population (ZIP): 5,315

Population outlook (Macomb County) Hauer SSP2

• Today (2025): 925,296 people
• By 2030: 948,226 · +2.5%
• By 2040: 983,961 · +6.3%
• By 2050: 1,010,200 · +9.2%
• By 2075: 1,076,222 · +16.3%
• By 2100: 1,077,065 · +16.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2%
• Common ancestry: Romanian 12% Lithuanian 4% Iranian 2%
• Foreign-born: 1% · Vietnam
• Languages at home: 97% English-only · Other Indo-European 2% Vietnamese 1%

Political lean MEDSL · Macomb

• 2024 margin: R (+13.7) · D 42.2% · R 55.9% · Other 1.9%
• 2008→2024 swing: -22.3pp toward R · 2008: 8.6pp · 2024: -13.7pp
• All cycles: 2024: R+13.7 2020: R+8.1 2016: R+11.6 2012: D+4.0 2008: D+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -101.28%
• Current HPI: 216.1108
• 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

+186.2% since first listed

11 events — show timeline

• 2026-03-13 Price Changed $180,000 MiRealSource-MiMLS
• 2026-03-12 Price Changed $180,000 REALCOMP
• 2026-02-19 Price Changed $190,000 MiRealSource-MiMLS
• 2026-02-19 Price Changed $190,000 REALCOMP
• 2026-02-06 Listed $200,000 REALCOMP
• 2026-02-06 Listed $200,000 MiRealSource-MiMLS
• 1996-07-15 Sold (Public Records) $90,000 Public Records
• 1996-05-29 Sold (MLS) $90,000 MiRealSource-MiMLS
• 1996-04-23 Listing Removed — MiRealSource-MiMLS
• 1996-03-26 Listed $92,900 MiRealSource-MiMLS
• 1989-01-09 Sold (Public Records) $62,888 Public Records

Property tax history

+0.6%/yr

Latest (2025): $1,591 · +2.9% YoY. Source: county tax records.