2010 Carol Dr · Lapeer, MI 48446

$190,000

3 bd · 1.5 ba · 1,624 sqft · SingleFamily public records · 3 Days on market

Built 1961 0.46 ac lot $117/sqft · 15% below area Est $223k · 15% 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 +15.6/30.0
• ARV discount +14.2/15.0
• DSCR +4.8/10.0
• Livability +3.6/5.0
• Schools +3.5/10.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * MULTIPLE OFFERS. HIGHEST & BEST BY 2:00 PM SAT 5/2 * * Welcome to this well-maintained, one-owner 3-bedroom, 1.5-bath ranch offering spacious rooms and a comfortable, flowing layout. The spacious full bath was updated with a new walk-in shower and new vinyl plank flooring in 2025, and a new boiler was installed in 2023. The kitchen features durable laminate flooring, and a versatile flex room provides options for a home office, playroom, or additional living space to fit your needs. The half bath also serves as a laundry and utility room with both gas and electric dryer hookups, and the home features excellent storage throughout, including easy pull-down ladder access to attic storage. Additional highlights include a whole-house attic fan for cooling the home, a finished 1-car garage with workshop space, a spacious front porch, and a desirable location within an established neighborhood in the Lapeer School District. Situated on a generous . 46-acre corner lot, this home features a beautiful tulip tree just outside the dining room window, creating a peaceful and inviting setting. Ideally located with quick access to M-24 and just minutes from the City of Lapeer, you'll be close to shopping, dining, and everyday amenities. Seller is offering a one-year America's Preferred Home Warranty with a $100 deductible.

Key facts

• 0.46 acre lot
• Garage
• Built 1961

Property features AI

Exterior

• Parking: Attached garage; Garage with 1 car space; Driveway; Garage door opener; Workshop area in garage; Garage faces front and side
• Utilities: Private well water; Septic tank sewer; Cable available
• Home design: Single-family residence; One level; Ground-level entry with steps; Cedar construction; Asphalt roof
• Construction: Built with cedar construction; Asphalt roof; Crawl space foundation; Home warranty included
• Exterior features: Porch; Corner, level lot; Paved road access

Interior

• Kitchen: Dishwasher; Free-standing electric range; Microwave; Free-standing refrigerator
• Bedrooms: Total of 7 rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Natural gas heating; Hot water heating; Baseboard heat
• Interior features: Water softener (owned); Exhaust fan; Attic fan; Ceiling fans; Crawl space basement
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $82 ($980/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 $160k (15.7% below list).
• Recommended offer: $160k (15.7% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 3.6% in Lapeer — 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 72/100 on livability (#231 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: schools D+, employment D, commute F.
• Lapeer Community Schools (town): math 31% / reading 49% proficiency, ranked #202 of 540 in MI (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 186 active listings in the ZIP; 152 units permitted in Lapeer County in 2024 (0 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 $6k of value loss. Plan a longer hold.
• Lapeer County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Recommended offer $160,258 (15.7% below list)

Questions for the listing agent

1. Built in 1961 — 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. 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.
5. 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.
6. 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: 0.84% ✗
• Cap rate: 6.81%
• Cash-on-cash: 1.84%
• DSCR: 1.08
• GRM: 9.9

CMA / ARV

• ARV (median comp): $223,137
• List price: $190,000
• Delta: -14.85%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2010 Carol Dr	0.00mi	3/1.5	1,624 (0%)	0mo	$201,000	$124	100
17 Riverview Dr	0.66mi	3/2.0	1,400 (-14%)	8mo	$24,400	$17	38

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: -13.4%
• Equity multiple: 0.52×
• Total profit: $-25,642
• Equity at exit: $28,330

10-year hold

• IRR: -4.5%
• Equity multiple: 0.70×
• Total profit: $-15,854
• Equity at exit: $16,428

Cash invested: $53,200 (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 48446

• Active inventory: 186
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,603 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$109 /mo · $1,306/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $82

Break-even live

Break-even rent $1,499

Max offer price $190,000

Occupancy floor 90%

Sensitivity live

Price	-10% $189	-5% $135	+0% $82	+5% $28	+10% $-26
Rent	-10% $-45	-5% $18	+0% $82	+5% $145	+10% $208
Rate	-1.0pp $177	-0.5pp $130	base $82	+0.5pp $32	+1.0pp $-18

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-03
   status Pending 1344-char remark

   Show marketing remark (1344 chars)

   * * MULTIPLE OFFERS. HIGHEST & BEST BY 2:00 PM SAT 5/2 * * Welcome to this well-maintained, one-owner 3-bedroom, 1.5-bath ranch offering spacious rooms and a comfortable, flowing layout. The spacious full bath was updated with a new walk-in shower and new vinyl plank flooring in 2025, and a new boiler was installed in 2023. The kitchen features durable laminate flooring, and a versatile flex room provides options for a home office, playroom, or additional living space to fit your needs. The half bath also serves as a laundry and utility room with both gas and electric dryer hookups, and the home features excellent storage throughout, including easy pull-down ladder access to attic storage. Additional highlights include a whole-house attic fan for cooling the home, a finished 1-car garage with workshop space, a spacious front porch, and a desirable location within an established neighborhood in the Lapeer School District. Situated on a generous . 46-acre corner lot, this home features a beautiful tulip tree just outside the dining room window, creating a peaceful and inviting setting. Ideally located with quick access to M-24 and just minutes from the City of Lapeer, you'll be close to shopping, dining, and everyday amenities. Seller is offering a one-year America's Preferred Home Warranty with a $100 deductible.

2. 2026-05-03
   status Pending 1356-char remark

   Show marketing remark (1344 chars)

   * * MULTIPLE OFFERS. HIGHEST & BEST BY 2:00 PM SAT 5/2 * * Welcome to this well-maintained, one-owner 3-bedroom, 1.5-bath ranch offering spacious rooms and a comfortable, flowing layout. The spacious full bath was updated with a new walk-in shower and new vinyl plank flooring in 2025, and a new boiler was installed in 2023. The kitchen features durable laminate flooring, and a versatile flex room provides options for a home office, playroom, or additional living space to fit your needs. The half bath also serves as a laundry and utility room with both gas and electric dryer hookups, and the home features excellent storage throughout, including easy pull-down ladder access to attic storage. Additional highlights include a whole-house attic fan for cooling the home, a finished 1-car garage with workshop space, a spacious front porch, and a desirable location within an established neighborhood in the Lapeer School District. Situated on a generous . 46-acre corner lot, this home features a beautiful tulip tree just outside the dining room window, creating a peaceful and inviting setting. Ideally located with quick access to M-24 and just minutes from the City of Lapeer, you'll be close to shopping, dining, and everyday amenities. Seller is offering a one-year America's Preferred Home Warranty with a $100 deductible.

3. 2026-05-01
   listed $190,000 Active 1344-char remark

   Show marketing remark (1344 chars)

   * * MULTIPLE OFFERS. HIGHEST & BEST BY 2:00 PM SAT 5/2 * * Welcome to this well-maintained, one-owner 3-bedroom, 1.5-bath ranch offering spacious rooms and a comfortable, flowing layout. The spacious full bath was updated with a new walk-in shower and new vinyl plank flooring in 2025, and a new boiler was installed in 2023. The kitchen features durable laminate flooring, and a versatile flex room provides options for a home office, playroom, or additional living space to fit your needs. The half bath also serves as a laundry and utility room with both gas and electric dryer hookups, and the home features excellent storage throughout, including easy pull-down ladder access to attic storage. Additional highlights include a whole-house attic fan for cooling the home, a finished 1-car garage with workshop space, a spacious front porch, and a desirable location within an established neighborhood in the Lapeer School District. Situated on a generous . 46-acre corner lot, this home features a beautiful tulip tree just outside the dining room window, creating a peaceful and inviting setting. Ideally located with quick access to M-24 and just minutes from the City of Lapeer, you'll be close to shopping, dining, and everyday amenities. Seller is offering a one-year America's Preferred Home Warranty with a $100 deductible.

4. 2026-05-01
   listed $190,000 Active 1356-char remark

   Show marketing remark (1344 chars)

   * * MULTIPLE OFFERS. HIGHEST & BEST BY 2:00 PM SAT 5/2 * * Welcome to this well-maintained, one-owner 3-bedroom, 1.5-bath ranch offering spacious rooms and a comfortable, flowing layout. The spacious full bath was updated with a new walk-in shower and new vinyl plank flooring in 2025, and a new boiler was installed in 2023. The kitchen features durable laminate flooring, and a versatile flex room provides options for a home office, playroom, or additional living space to fit your needs. The half bath also serves as a laundry and utility room with both gas and electric dryer hookups, and the home features excellent storage throughout, including easy pull-down ladder access to attic storage. Additional highlights include a whole-house attic fan for cooling the home, a finished 1-car garage with workshop space, a spacious front porch, and a desirable location within an established neighborhood in the Lapeer School District. Situated on a generous . 46-acre corner lot, this home features a beautiful tulip tree just outside the dining room window, creating a peaceful and inviting setting. Ideally located with quick access to M-24 and just minutes from the City of Lapeer, you'll be close to shopping, dining, and everyday amenities. Seller is offering a one-year America's Preferred Home Warranty with a $100 deductible.

5. 2026-04-30
   historical $190,000 1344-char remark

   Show marketing remark (1344 chars)

   * * MULTIPLE OFFERS. HIGHEST & BEST BY 2:00 PM SAT 5/2 * * Welcome to this well-maintained, one-owner 3-bedroom, 1.5-bath ranch offering spacious rooms and a comfortable, flowing layout. The spacious full bath was updated with a new walk-in shower and new vinyl plank flooring in 2025, and a new boiler was installed in 2023. The kitchen features durable laminate flooring, and a versatile flex room provides options for a home office, playroom, or additional living space to fit your needs. The half bath also serves as a laundry and utility room with both gas and electric dryer hookups, and the home features excellent storage throughout, including easy pull-down ladder access to attic storage. Additional highlights include a whole-house attic fan for cooling the home, a finished 1-car garage with workshop space, a spacious front porch, and a desirable location within an established neighborhood in the Lapeer School District. Situated on a generous . 46-acre corner lot, this home features a beautiful tulip tree just outside the dining room window, creating a peaceful and inviting setting. Ideally located with quick access to M-24 and just minutes from the City of Lapeer, you'll be close to shopping, dining, and everyday amenities. Seller is offering a one-year America's Preferred Home Warranty with a $100 deductible.

ⓘ 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: $1,306 · $109/mo
• Projected year-2 tax: $2,116 · $176/mo
• Expected delta: +$810/yr (+$68/mo · 62.0%)

ⓘ 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 · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,231
• − Mortgage interest: −$10,643
• − Property taxes: −$1,306
• − Insurance: −$950
• − Repairs & maintenance: −$1,538
• − Management: −$1,538
• − Depreciation: −$5,527
• Taxable loss: −$2,272
• Est. tax savings @ 24.0%: +$545
• After-tax cash flow: $1,525/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: Lapeer Community Schools
• NCES district ID: 2621180
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 49% ▼ -4.00%
• Median HH income: $53,749
• Composite: 34.79/100
• National rank: #5113
• State rank: #202 of 540 in MI

Livability — Lapeer

• Score: 72/100
• State rank: #231
• US rank: #5855

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lapeer County · 30,581 people
• City population: 30,581
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 30,581
• Household income: $66,062
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 908.0

Population outlook (Lapeer County) Hauer SSP2

• Today (2025): 89,826 people
• By 2030: 89,535 · -0.3%
• By 2040: 86,695 · -3.5%
• By 2050: 80,566 · -10.3%
• By 2075: 65,783 · -26.8%
• By 2100: 46,584 · -48.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 6% Hispanic / Latino 3% Black 3%
• Common ancestry: Romanian 6% Lithuanian 4% Slovak 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Lapeer

• 2024 margin: Solid R (+39.8) · D 29.5% · R 69.3% · Other 1.3%
• 2008→2024 swing: -36.8pp toward R · 2008: -3.0pp · 2024: -39.8pp
• All cycles: 2024: R+39.8 2020: R+36.3 2016: R+38.3 2012: R+11.5 2008: R+3.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -243.58%
• Current HPI: 212.3665
• Rent YoY: —
• Metro: Detroit-Warren-Dearborn, 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

+5.8% since first listed

7 events — show timeline

• 2026-06-09 Sold (MLS) $201,000 MiRealSource-MiMLS
• 2026-06-09 Sold (MLS) $201,000 REALCOMP
• 2026-05-03 Pending — MiRealSource-MiMLS
• 2026-05-03 Pending — REALCOMP
• 2026-05-01 Listed $190,000 MiRealSource-MiMLS
• 2026-05-01 Listed $190,000 REALCOMP
• 2026-04-30 Coming Soon $190,000 MiRealSource-MiMLS

Property tax history

+3.0%/yr

Latest (2025): $1,306 · +3.8% YoY. Source: county tax records.