389 Rustic Ln N

Sumpter, MI 48111

$88,000C+

4 bd · 2.0 ba · 1,848 sqft · Built 2019 · SingleFamily · Active · 158 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,864/mo
• Mortgage (P&I): −$461
• Tax + insurance: −$147
• HOA: −$630
• Vac / Maint / Mgmt: −$391
• Net cashflow: $234/mo
• Annual: $2,813/yr
• Cap rate: 9.49%
• Cash-on-cash: 11.42%
• DSCR: 1.51
• 1% rule: 2.12%
• Cash to close: $24,640

Investor read

• This is a 4-bed/2.0-bath single-family listed at $88k. Condition is rated average.
• At list price, monthly cash flow is $234 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $88k).
• It's been on market 158 days — a 12% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $77k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $608 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Lincoln Consolidated School District (rural): math 17% / reading 33% proficiency, ranked #393 of 540 in MI (top 73%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: HOA is 34% of rent.
• Market conditions: Rents rising (+3.6%/yr); 216 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 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.
• At projected returns (-3.0% appreciation + 3.6% rent growth), your $25k cash investment doubles in ~9 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 158 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Kitchen cabinets — Dark cabinets may need updating or repainting.
• Minor: Bathroom fixtures — Standard fixtures may need updating or replacement.
• Minor: Paint — Interior walls show signs of wear and may need touch-up or repainting.
• Minor: Landscaping — Simple landscaping could be improved with more decorative elements.