796 Plank St · Dundee, MI 48131

$140,000

2 bd · 2.0 ba · 1,575 sqft · SingleFamily

Built 1991 0.26 ac lot ↓ 18% since listing

---

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 +24.5/30.0
• DSCR +7.9/10.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Schools +4.3/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Check out this new Charming house to the market!!

Key facts

• 0.26 acre lot
• 2 garage spots
• Built 1991

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $286 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Cap rate 8.7% vs local median 3.1% in Dundee — 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 75/100 on livability (#155 in MI, #3,834 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D-, commute F.
• Dundee Community Schools (town): math 42% / reading 57% proficiency, ranked #99 of 540 in MI (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 52 active listings in the ZIP; 264 units permitted in Monroe County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Monroe County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 23y 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.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $140,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.08% ✓
• Cap rate: 8.75%
• Cash-on-cash: 8.77%
• DSCR: 1.39
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $281,925
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
607 Toledo St	0.41mi	3/1.5 (+1)	1,630 (+4%)	1mo	$125,000	$77	67
971 Strawberry St	0.12mi	3/2.0 (+1)	1,408 (-11%)	7mo	$250,000	$178	66
610 Grace Point Dr	0.45mi	3/2.0 (+1)	1,585 (+1%)	12mo	$342,500	$216	62
437 Corinth Circle Ln #237	0.42mi	3/2.0 (+1)	1,592 (+1%)	15mo	$388,168	$244	61
635 Riley St	0.24mi	3/2.0 (+1)	1,665 (+6%)	17mo	$269,000	$162	60
241 Potterstone Dr #45	0.51mi	3/2.0 (+1)	1,528 (-3%)	20mo	$379,000	$248	50
365 Sidney St	0.45mi	3/2.0 (+1)	1,338 (-15%)	2mo	$240,000	$179	47

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: -3.0%
• Equity multiple: 0.89×
• Total profit: $-4,453
• Equity at exit: $20,874

10-year hold

• IRR: 6.7%
• Equity multiple: 1.50×
• Total profit: $19,570
• Equity at exit: $12,105

Cash invested: $39,200 (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 48131

• Active inventory: 52
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,518 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$120 /mo · $1,441/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $286

Break-even live

Break-even rent $1,155

Max offer price $140,000

Occupancy floor 76%

Sensitivity live

Price	-10% $366	-5% $326	+0% $286	+5% $247	+10% $207
Rent	-10% $167	-5% $226	+0% $286	+5% $346	+10% $406
Rate	-1.0pp $357	-0.5pp $322	base $286	+0.5pp $250	+1.0pp $213

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-12
   remarks 49-char remark
2. 2026-06-12
   listed $140,000 Pending

ⓘ 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: $1,441 · $120/mo
• Projected year-2 tax: $1,798 · $150/mo
• Expected delta: +$358/yr (+$30/mo · 24.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 67% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°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: $18,213
• − Mortgage interest: −$7,842
• − Property taxes: −$1,441
• − Insurance: −$700
• − Repairs & maintenance: −$1,457
• − Management: −$1,457
• − Depreciation: −$4,073
• Taxable income: $1,243
• Est. tax owed @ 24.0%: −$298
• After-tax cash flow: $3,139/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: Dundee Community Schools
• NCES district ID: 2612300
• Math proficiency: 42% ▼ -11.00%
• Reading proficiency: 57% ▼ -1.00%
• Median HH income: $55,640
• Composite: 42.85/100
• National rank: #3128
• State rank: #99 of 540 in MI

Livability — Dundee

• Score: 75/100
• State rank: #155
• US rank: #3834

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dundee, MI
• Population (ZIP): 8,306

Population outlook (Monroe County) Hauer SSP2

• Today (2025): 144,439 people
• By 2030: 140,033 · -3.1%
• By 2040: 128,408 · -11.1%
• By 2050: 115,024 · -20.4%
• By 2075: 87,273 · -39.6%
• By 2100: 63,110 · -56.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 5%
• Common ancestry: Romanian 11% Lithuanian 7% Slovak 3%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · German/W. Germanic 1% French/Haitian/Cajun 1%

Political lean MEDSL · Monroe

• 2024 margin: Strong R (+27.1) · D 35.7% · R 62.9% · Other 1.4%
• 2008→2024 swing: -31.5pp toward R · 2008: 4.3pp · 2024: -27.1pp
• All cycles: 2024: R+27.1 2020: R+22.6 2016: R+22.1 2012: D+1.0 2008: D+4.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -138.90%
• Current HPI: 187.4214
• 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

-17.6% since first listed

10 events — show timeline

• 2026-06-11 Listed $140,000 REALCOMP
• 2026-06-11 Listing Removed — REALCOMP
• 2026-06-11 Listed $140,000 MiRealSource-MiMLS
• 2026-06-11 Listing Removed — MiRealSource-MiMLS
• 2003-12-16 Sold (Public Records) $158,000 Public Records
• 2003-11-25 Sold (MLS) $158,000 MiRealSource-MiMLS
• 2003-11-25 Sold (MLS) $158,000 REALCOMP
• 2003-10-14 Listing Removed — MiRealSource-MiMLS
• 2003-09-16 Listed $169,900 MiRealSource-MiMLS
• 2003-09-16 Listed $169,900 REALCOMP

Property tax history

-5.4%/yr

Latest (2025): $1,441 · +9.2% YoY. Source: county tax records.