1915 River St · Jackson, MI 49202

$64,500

2 bd · 1.0 ba · 920 sqft · SingleFamily · 94 Days on market

Built 1940 6,534 sqft lot $70/sqft · 48% below area Est $123k · 48% under ↓ 8% since listing

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Why this score? — see what drove the B 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 +27.7/30.0
• ARV discount +15.0/15.0
• DSCR +9.8/10.0
• 1% rule +8.7/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This property offers great potential, being in quick proximity to both 127 & I-94. Home needs extensive renovations, so buyers - bring your skills, knowledge & tools! Quiet, low traffic street in Blackman Township, fenced back and front yard with a hill & woods backing up to the property - no neighbors! The brick garage is very cool! The paved drive & fenced yard add value to the property. Come see the potential this home offers!

Key facts

• Paved drive
• Fenced backyard
• No neighbors

Tags

• QUIET LOW TRAFFIC STREET
• FENCED BACKYARD
• NO NEIGHBORS
• PAVED DRIVE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $64k.

Deal economics

• At list price, monthly cash flow is $195 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($882 rent vs $64k).
• Recommended offer: $59k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 5.4% in Jackson — 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 74/100 on livability (#197 in MI, #4,970 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, crime F, employment F.
• Jackson Public Schools (urban): math 15% / reading 28% proficiency, ranked #458 of 540 in MI (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 79 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 317 units permitted in Jackson County in 2024 (103 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $446 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Jackson County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $10k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $58,695 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. 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.
9. 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.
10. 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: 1.37% ✓
• Cap rate: 9.93%
• Cash-on-cash: 12.99%
• DSCR: 1.58
• GRM: 6.1

CMA / ARV

• ARV (median comp): $123,412
• List price: $64,500
• Delta: -47.74%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1410 Rowena Ln	0.53mi	2/1.0	975 (+6%)	4mo	$155,000	$159	62
520 Andrew Ave	0.63mi	2/1.0	868 (-6%)	4mo	$153,500	$177	58
120 Austin Ave	0.73mi	2/1.0	929 (+1%)	8mo	$127,500	$137	58
550 Royal Dr	0.65mi	2/1.0	1,011 (+10%)	2mo	$132,000	$131	52
1422 Cooper St	0.51mi	3/2.0 (+1)	1,008 (+10%)	1mo	$205,000	$203	50
400 Hillsdale St	0.46mi	2/1.0	1,026 (+12%)	15mo	$40,000	$39	47
429 Saint Clair Ave	0.72mi	3/1.0 (+1)	900 (-2%)	15mo	$140,000	$156	45
315 E Monroe St	0.74mi	2/1.0	816 (-11%)	8mo	$115,000	$141	40

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: 2.9%
• Equity multiple: 1.11×
• Total profit: $2,045
• Equity at exit: $9,617

10-year hold

• IRR: 12.5%
• Equity multiple: 2.00×
• Total profit: $18,004
• Equity at exit: $5,577

Cash invested: $18,060 (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 49202

• Active inventory: 79
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $882 medium
• Mortgage (P&I): −$338
• Tax from tax record: −$136 /mo · $1,631/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$185
• Net cashflow: $195

Break-even live

Break-even rent $634

Max offer price $64,500

Occupancy floor 73%

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: $16,125
• Closing costs: $1,935
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 Armory Ct Jackson, MI	1.0	1.0	800	$788	$0.98	43d	1	1.13mi
521 W North St Jackson, MI	2.0	1.0	684	$1,000	$1.46	43d	1	1.22mi

Listing history 23 events

1. 2026-06-19
   days on market $64,500 Active 94 DOM
2. 2026-06-18
   days on market $64,500 Active 93 DOM
3. 2026-06-17
   days on market $64,500 Active 92 DOM
4. 2026-06-16
   days on market $64,500 Active 91 DOM
5. 2026-06-15
   days on market $64,500 Active 90 DOM
6. 2026-06-14
   days on market $64,500 Active 88 DOM
7. 2026-06-13
   days on market $64,500 Active 87 DOM
8. 2026-06-10
   days on market $64,500 Active 85 DOM
9. 2026-06-09
   days on market $64,500 Active 84 DOM
10. 2026-06-08
    days on market $64,500 Active 83 DOM
11. 2026-06-07
    days on market $64,500 Active 82 DOM
12. 2026-06-03
    days on market $64,500 Active 78 DOM
13. 2026-06-03
    price $64,500 Active 77 DOM
14. 2026-06-02
    days on market $69,000 Active 77 DOM
15. 2026-06-01
    days on market $69,000 Active 76 DOM
16. 2026-05-31
    days on market $69,000 Active 75 DOM
17. 2026-05-30
    days on market $69,000 Active 74 DOM
18. 2026-04-23
    price $69,000 457-char remark

    Show marketing remark (457 chars)

    This property offers great potential, being in quick proximity to both 127 & I-94. Home needs extensive renovations, so buyers - bring your skills, knowledge & tools! Quiet, low traffic street in Blackman Township, fenced back and front yard with a hill & woods backing up to the property - no neighbors! The brick garage is very cool! The paved drive & fenced yard add value to the property. Come see the potential this home offers!

19. 2026-04-22
    price $69,000 457-char remark

    Show marketing remark (457 chars)

    This property offers great potential, being in quick proximity to both 127 & I-94. Home needs extensive renovations, so buyers - bring your skills, knowledge & tools! Quiet, low traffic street in Blackman Township, fenced back and front yard with a hill & woods backing up to the property - no neighbors! The brick garage is very cool! The paved drive & fenced yard add value to the property. Come see the potential this home offers!

20. 2026-04-22
    price $69,000

    Show marketing remark (457 chars)

    This property offers great potential, being in quick proximity to both 127 & I-94. Home needs extensive renovations, so buyers - bring your skills, knowledge & tools! Quiet, low traffic street in Blackman Township, fenced back and front yard with a hill & woods backing up to the property - no neighbors! The brick garage is very cool! The paved drive & fenced yard add value to the property. Come see the potential this home offers!

21. 2026-03-17
    listed $75,000 Active 457-char remark

    Show marketing remark (457 chars)

    This property offers great potential, being in quick proximity to both 127 & I-94. Home needs extensive renovations, so buyers - bring your skills, knowledge & tools! Quiet, low traffic street in Blackman Township, fenced back and front yard with a hill & woods backing up to the property - no neighbors! The brick garage is very cool! The paved drive & fenced yard add value to the property. Come see the potential this home offers!

22. 2026-03-16
    listed $75,000 Active 457-char remark

    Show marketing remark (457 chars)

    This property offers great potential, being in quick proximity to both 127 & I-94. Home needs extensive renovations, so buyers - bring your skills, knowledge & tools! Quiet, low traffic street in Blackman Township, fenced back and front yard with a hill & woods backing up to the property - no neighbors! The brick garage is very cool! The paved drive & fenced yard add value to the property. Come see the potential this home offers!

23. 2026-03-16
    listed $75,000 Active

    Show marketing remark (457 chars)

    This property offers great potential, being in quick proximity to both 127 & I-94. Home needs extensive renovations, so buyers - bring your skills, knowledge & tools! Quiet, low traffic street in Blackman Township, fenced back and front yard with a hill & woods backing up to the property - no neighbors! The brick garage is very cool! The paved drive & fenced yard add value to the property. Come see the potential this home offers!

ⓘ 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: $1,631 · $136/mo
• Projected year-2 tax: $1,631 · $136/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,580
• − Mortgage interest: −$3,613
• − Property taxes: −$1,631
• − Insurance: −$322
• − Repairs & maintenance: −$846
• − Management: −$846
• − Depreciation: −$1,876
• Taxable income: $1,444
• Est. tax owed @ 24.0%: −$347
• After-tax cash flow: $1,999/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: Jackson Public Schools
• NCES district ID: 2619620
• Math proficiency: 15% ▼ -6.00%
• Reading proficiency: 28% ▼ -3.00%
• Median HH income: $38,344
• Composite: 17.99/100
• National rank: #8986
• State rank: #458 of 540 in MI

Livability — Jackson

• Score: 74/100
• State rank: #197
• US rank: #4970

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 85,581
• Population (ZIP): 18,763

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 156,365 people
• By 2030: 153,123 · -2.1%
• By 2040: 144,981 · -7.3%
• By 2050: 135,671 · -13.2%
• By 2075: 113,833 · -27.2%
• By 2100: 86,592 · -44.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Two or more races 11% Black 10% Hispanic / Latino 5% Asian 1%
• Common ancestry: Romanian 9% Iranian 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 3% Other Asian/Pacific 1% Arabic 1%

Political lean MEDSL · Jackson

• 2024 margin: Strong R (+21.3) · D 38.6% · R 59.9% · Other 1.5%
• 2008→2024 swing: -23.7pp toward R · 2008: 2.4pp · 2024: -21.3pp
• All cycles: 2024: R+21.3 2020: R+19.0 2016: R+20.1 2012: R+5.8 2008: D+2.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -175.30%
• Current HPI: 170.3682
• 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

-8.0% since first listed

6 events — show timeline

• 2026-04-23 Price Changed $69,000 MiRealSource-MiMLS
• 2026-04-22 Price Changed $69,000 REALCOMP
• 2026-04-22 Price Changed $69,000 SW Michigan MLS
• 2026-03-17 Listed $75,000 REALCOMP
• 2026-03-16 Listed $75,000 SW Michigan MLS
• 2026-03-16 Listed $75,000 MiRealSource-MiMLS

Property tax history

+13.8%/yr

Latest (2025): $1,631 · -12.5% YoY. Source: county tax records.