1303 W Erie St · Bedford, MI 48182

$239,900

2 bd · 2.0 ba · 1,321 sqft · SingleFamily · 51 Days on market

Built 1976 0.46 ac lot $182/sqft · 6% below area Est $254k · 6% under

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Why this score? — see what drove the D 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 +13.6/30.0
• ARV discount +10.0/15.0
• DSCR +4.1/10.0
• Schools +3.8/10.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

One story home located on Giant Oak golf course, original home was a 3 bedroom and could be returned to that, circular concrete driveway makes parking and access convenient, great view off rear of home on covered patio overlooking Giant Oak golf course, brand new stainless steel kitchen appliances, vaulted ceiling in living room, 2 full baths, main bath shower updated, large eat in kitchen, utility room with cupboards, hookup for utility sink, oversized 2 car garage, inground sprinkler system.

Key facts

• 0.46 acre lot
• 2 garage spots
• Built 1976

Property features AI

Finance

• HOA & community: Homeowners association present

Exterior

• Parking: Attached 2-car garage
• Utilities: Private well water; Septic tank sewer
• Home design: Single-family residence; One story
• Construction: Aluminum siding and brick exterior
• Exterior features: Patio; Porch; Paved road access

Interior

• Kitchen: Dishwasher; Microwave
• Bedrooms: Total of 4 rooms (includes bedrooms and living spaces)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Cathedral ceilings; Eat-in kitchen; High-speed internet
• Laundry & utility: Crawl space basement

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $13 ($154/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 $182k (24.3% below list).
• Recommended offer: $182k (24.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Bedford Public Schools (suburban): math 33% / reading 53% proficiency, ranked #150 of 540 in MI (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Douglas Road Elementary School (math 37% / reading 47%, grade F, #547 of 1,397 statewide, top 41%, 575 students, 32% FRL); Bedford Junior High School (math 30% / reading 52%, grade F, #195 of 493 statewide, top 41%, 911 students, 29% FRL); Bedford Senior High School (math 38% / reading 64%, grade D+, #142 of 713 statewide, top 20%, 1,294 students, 27% FRL).
• Market conditions: 82 active listings in the ZIP; solid renter incomes; 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 $2k of loan paydown is wiped out by about $7k 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

• It's been on market 51 days — a 3% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 13y 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.
• Current owner paid $145k; list at $240k implies a 66% gain — meaningful room to come down on a strong offer.

Recommended offer $181,677 (24.3% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.76% ✗
• Cap rate: 6.36%
• Cash-on-cash: 0.23%
• DSCR: 1.01
• GRM: 11.0

CMA / ARV

• ARV (median comp): $253,963
• List price: $239,900
• Delta: -5.54%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1084 Borg Ave	0.49mi	3/2.0 (+1)	1,372 (+4%)	22mo	$250,000	$182	48
660 Pickard Rd	0.66mi	3/2.0 (+1)	1,464 (+11%)	1mo	$305,000	$208	45
9643 Lewis Ave	0.41mi	3/1.0 (+1)	1,464 (+11%)	22mo	$135,000	$92	35
613 Pickard Rd	0.73mi	3/1.5 (+1)	1,462 (+11%)	22mo	$321,000	$220	23
9143 Clover Dr	0.63mi	3/1.5 (+1)	1,508 (+14%)	21mo	$260,000	$172	22

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: -16.0%
• Equity multiple: 0.43×
• Total profit: $-38,173
• Equity at exit: $35,770

10-year hold

• IRR: -7.7%
• Equity multiple: 0.51×
• Total profit: $-32,664
• Equity at exit: $20,742

Cash invested: $67,172 (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 48182

• Active inventory: 82
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,817 medium
• Mortgage (P&I): −$1,258
• Tax from tax record: −$64 /mo · $773/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$382
• Net cashflow: $13

Break-even live

Break-even rent $1,801

Max offer price $239,900

Occupancy floor 94%

Sensitivity live

Price	-10% $149	-5% $81	+0% $13	+5% $-55	+10% $-123
Rent	-10% $-131	-5% $-59	+0% $13	+5% $85	+10% $156
Rate	-1.0pp $134	-0.5pp $74	base $13	+0.5pp $-49	+1.0pp $-113

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Listing history 39 events

1. 2026-06-22
   days on market $239,900 Active 51 DOM
2. 2026-06-18
   days on market $239,900 Active 48 DOM
3. 2026-06-17
   days on market $239,900 Active 47 DOM
4. 2026-06-16
   pricedays on market $239,900 Active 46 DOM

   Show marketing remark (498 chars)

   One story home located on Giant Oak golf course, original home was a 3 bedroom and could be returned to that, circular concrete driveway makes parking and access convenient, great view off rear of home on covered patio overlooking Giant Oak golf course, brand new stainless steel kitchen appliances, vaulted ceiling in living room, 2 full baths, main bath shower updated, large eat in kitchen, utility room with cupboards, hookup for utility sink, oversized 2 car garage, inground sprinkler system.

5. 2026-06-15
   days on market $249,900 Active 45 DOM
6. 2026-06-14
   days on market $249,900 Active 43 DOM
7. 2026-06-10
   days on market $249,900 Active 40 DOM
8. 2026-06-09
   days on market $249,900 Active 39 DOM
9. 2026-06-08
   days on market $249,900 Active 38 DOM
10. 2026-06-07
    days on market $249,900 Active 37 DOM
11. 2026-06-03
    days on market $249,900 Active 33 DOM
12. 2026-06-03
    remarks 498-char remark
13. 2026-06-02
    days on market $249,900 Active 32 DOM
14. 2026-06-01
    days on market $249,900 Active 31 DOM
15. 2026-05-31
    days on market $249,900 Active 30 DOM
16. 2026-05-30
    days on market $249,900 Active 29 DOM
17. 2026-05-01
    listed $249,900 Active 442-char remark

    Show marketing remark (498 chars)

    One story home located on Giant Oak golf course, original home was a 3 bedroom and could be returned to that, circular concrete driveway makes parking and access convenient, great view off rear of home on covered patio overlooking Giant Oak golf course, brand new stainless steel kitchen appliances, vaulted ceiling in living room, 2 full baths, main bath shower updated, large eat in kitchen, utility room with cupboards, hookup for utility sink, oversized 2 car garage, inground sprinkler system.

18. 2026-05-01
    listed $249,900 Active 442-char remark

    Show marketing remark (498 chars)

    One story home located on Giant Oak golf course, original home was a 3 bedroom and could be returned to that, circular concrete driveway makes parking and access convenient, great view off rear of home on covered patio overlooking Giant Oak golf course, brand new stainless steel kitchen appliances, vaulted ceiling in living room, 2 full baths, main bath shower updated, large eat in kitchen, utility room with cupboards, hookup for utility sink, oversized 2 car garage, inground sprinkler system.

19. 2026-04-27
    historical $249,900 442-char remark

    Show marketing remark (498 chars)

    One story home located on Giant Oak golf course, original home was a 3 bedroom and could be returned to that, circular concrete driveway makes parking and access convenient, great view off rear of home on covered patio overlooking Giant Oak golf course, brand new stainless steel kitchen appliances, vaulted ceiling in living room, 2 full baths, main bath shower updated, large eat in kitchen, utility room with cupboards, hookup for utility sink, oversized 2 car garage, inground sprinkler system.

20. 2024-06-08
    historical
21. 2024-06-08
    historical
22. 2024-05-21
    listed $248,000 Active
23. 2024-05-21
    listed $248,000 Active
24. 2024-05-20
    historical
25. 2024-05-20
    historical
26. 2017-07-06
    soldstatus $144,900
27. 2017-06-30
    soldstatus $144,500
28. 2017-06-30
    soldstatus $144,500 Closed
29. 2017-06-10
    status Pending
30. 2017-06-06
    status Active
31. 2017-05-06
    status Pending
32. 2017-05-04
    listed $144,900 Active
33. 2017-05-03
    listed $144,900
34. 2013-10-28
    soldstatus $130,000
35. 2013-09-27
    soldstatus $130,000
36. 2013-09-27
    soldstatus $130,000
37. 2013-09-16
    historical
38. 2013-01-14
    listed $129,900
39. 2013-01-14
    listed $129,900

ⓘ 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: $773 · $64/mo
• Projected year-2 tax: $2,234 · $186/mo
• Expected delta: +$1,461/yr (+$122/mo · 189.1%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,801
• − Mortgage interest: −$13,438
• − Property taxes: −$773
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,744
• − Management: −$1,744
• − Depreciation: −$6,979
• Taxable loss: −$4,076
• Est. tax savings @ 24.0%: +$978
• After-tax cash flow: $1,132/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: Bedford Public Schools
• NCES district ID: 2604470
• Math proficiency: 33% ▼ -14.00%
• Reading proficiency: 53% ▼ -3.00%
• Median HH income: $63,784
• Composite: 38.22/100
• National rank: #4252
• State rank: #150 of 540 in MI

Livability — Bedford

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Temperance, MI
• County: Monroe · 31,363 people
• Metro: Monroe, MI
• Population (ZIP): 20,705
• Household income: $83,155
• Rent vs Own: 16.9% rent · 83.1% own
• Severe rent burden: 12.7

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 (90%)
• Race & ethnicity: White 90% Hispanic / Latino 6% Two or more races 5% Black 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 14% Lithuanian 4% Italian 3%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% Other Indo-European 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: ▼ -140.99%
• Current HPI: 158.2484
• 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

+84.7% since first listed

25 events — show timeline

• 2026-06-16 Price Changed $239,900 MiRealSource-MiMLS
• 2026-06-15 Price Changed $239,900 REALCOMP
• 2026-05-01 Listed $249,900 REALCOMP
• 2026-05-01 Listed $249,900 MiRealSource-MiMLS
• 2026-04-27 Coming Soon $249,900 MiRealSource-MiMLS
• 2024-06-08 Listing Removed — MiRealSource-MiMLS
• 2024-06-08 Listing Removed — REALCOMP
• 2024-05-21 Listed $248,000 REALCOMP
• 2024-05-21 Listed $248,000 MiRealSource-MiMLS
• 2024-05-20 Coming Soon — REALCOMP
• 2024-05-20 Coming Soon — MiRealSource-MiMLS
• 2017-07-06 Sold (Public Records) $144,900 Public Records
• 2017-06-30 Sold (MLS) $144,500 MiRealSource-MiMLS
• 2017-06-30 Sold (MLS) $144,500 REALCOMP
• 2017-06-10 Pending — MiRealSource-MiMLS
• 2017-06-06 Relisted — MiRealSource-MiMLS
• 2017-05-06 Pending — MiRealSource-MiMLS
• 2017-05-04 Listed $144,900 MiRealSource-MiMLS
• 2017-05-03 Listed $144,900 REALCOMP
• 2013-10-28 Sold (Public Records) $130,000 Public Records
• 2013-09-27 Sold (MLS) $130,000 REALCOMP
• 2013-09-27 Sold (MLS) $130,000 MiRealSource-MiMLS
• 2013-09-16 Listing Removed — MiRealSource-MiMLS
• 2013-01-14 Listed $129,900 REALCOMP
• 2013-01-14 Listed $129,900 MiRealSource-MiMLS

Property tax history

-4.0%/yr

Latest (2025): $773 · -57.2% YoY. Source: county tax records.