199 Lacroix St · Algonac, MI 48028

$59,900

4 bd · 2.5 ba · 2,500 sqft · SingleFamily · 258 Days on market

Built 1900 10,019 sqft lot $24/sqft · 86% below area ↓ 57% since listing

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

4-bedroom home located on Harsens Island. Freddie Mac First Look Initiative is good through 09/29/2025

Key facts

• 0.23 acre lot
• Built 1900
• Listed 258 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $577 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.9% vs local median 1.7% in Algonac — 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 63/100 on livability (#524 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Algonac Community School District (suburban): math 30% / reading 40% proficiency, ranked #273 of 540 in MI (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 35 active listings in the ZIP; 232 units permitted in St. Clair County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($414 loan paydown + $6k appreciation (10.0% local appreciation)).
• St. Clair County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 258 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts; this cycle's ask has dropped $80k (57%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $52,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 258 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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 F-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. 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.
8. 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.
9. 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: 2.23% ✓
• Cap rate: 17.86%
• Cash-on-cash: 41.30%
• DSCR: 2.84
• GRM: 3.7

CMA / ARV

• ARV (median comp): $434,217
• List price: $59,900
• Delta: -86.21%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 56.3%
• Equity multiple: 5.14×
• Total profit: $69,444
• Equity at exit: $53,963

10-year hold

• IRR: 49.9%
• Equity multiple: 11.48×
• Total profit: $175,709
• Equity at exit: $116,373

Cash invested: $16,772 (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 48028

• Home prices YoY: 9.8%
• Active inventory: 35
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,336 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$139 /mo · $1,666/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $577

Break-even live

Break-even rent $605

Max offer price $59,900

Occupancy floor 52%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-05-31
   statusdays on market $59,900 Pending 258 DOM
2. 2026-05-14
   price $59,900 102-char remark

   Show marketing remark (102 chars)

   4-bedroom home located on Harsens Island. Freddie Mac First Look Initiative is good through 09/29/2025

3. 2026-05-13
   price $59,900 102-char remark

   Show marketing remark (102 chars)

   4-bedroom home located on Harsens Island. Freddie Mac First Look Initiative is good through 09/29/2025

4. 2026-05-07
   status Active 102-char remark

   Show marketing remark (102 chars)

   4-bedroom home located on Harsens Island. Freddie Mac First Look Initiative is good through 09/29/2025

5. 2026-05-07
   status Active 102-char remark

   Show marketing remark (102 chars)

   4-bedroom home located on Harsens Island. Freddie Mac First Look Initiative is good through 09/29/2025

6. 2026-05-07
   historical 102-char remark

   Show marketing remark (102 chars)

   4-bedroom home located on Harsens Island. Freddie Mac First Look Initiative is good through 09/29/2025

7. 2026-05-06
   status Active 102-char remark

   Show marketing remark (102 chars)

   4-bedroom home located on Harsens Island. Freddie Mac First Look Initiative is good through 09/29/2025

8. 2026-05-06
   status Active 102-char remark

   Show marketing remark (102 chars)

   4-bedroom home located on Harsens Island. Freddie Mac First Look Initiative is good through 09/29/2025

9. 2026-04-28
   status Pending 102-char remark

   Show marketing remark (102 chars)

   4-bedroom home located on Harsens Island. Freddie Mac First Look Initiative is good through 09/29/2025

10. 2026-04-28
    status Pending 102-char remark

    Show marketing remark (102 chars)

    4-bedroom home located on Harsens Island. Freddie Mac First Look Initiative is good through 09/29/2025

11. 2026-04-28
    historical 102-char remark

    Show marketing remark (102 chars)

    4-bedroom home located on Harsens Island. Freddie Mac First Look Initiative is good through 09/29/2025

12. 2026-04-17
    price $69,900 102-char remark

    Show marketing remark (102 chars)

    4-bedroom home located on Harsens Island. Freddie Mac First Look Initiative is good through 09/29/2025

13. 2026-04-16
    price $69,900 102-char remark

    Show marketing remark (102 chars)

    4-bedroom home located on Harsens Island. Freddie Mac First Look Initiative is good through 09/29/2025

14. 2026-03-16
    status Active 102-char remark

    Show marketing remark (102 chars)

    4-bedroom home located on Harsens Island. Freddie Mac First Look Initiative is good through 09/29/2025

15. 2026-03-16
    status Active 102-char remark

    Show marketing remark (102 chars)

    4-bedroom home located on Harsens Island. Freddie Mac First Look Initiative is good through 09/29/2025

16. 2026-03-09
    status Pending 102-char remark

    Show marketing remark (102 chars)

    4-bedroom home located on Harsens Island. Freddie Mac First Look Initiative is good through 09/29/2025

17. 2026-03-09
    status Pending 102-char remark

    Show marketing remark (102 chars)

    4-bedroom home located on Harsens Island. Freddie Mac First Look Initiative is good through 09/29/2025

18. 2026-02-21
    price $79,900 102-char remark

    Show marketing remark (102 chars)

    4-bedroom home located on Harsens Island. Freddie Mac First Look Initiative is good through 09/29/2025

19. 2026-02-20
    price $79,900 102-char remark

    Show marketing remark (102 chars)

    4-bedroom home located on Harsens Island. Freddie Mac First Look Initiative is good through 09/29/2025

20. 2025-12-19
    price $99,900 102-char remark

    Show marketing remark (102 chars)

    4-bedroom home located on Harsens Island. Freddie Mac First Look Initiative is good through 09/29/2025

21. 2025-12-18
    price $99,900 102-char remark

    Show marketing remark (102 chars)

    4-bedroom home located on Harsens Island. Freddie Mac First Look Initiative is good through 09/29/2025

22. 2025-11-15
    price $119,900 102-char remark

    Show marketing remark (102 chars)

    4-bedroom home located on Harsens Island. Freddie Mac First Look Initiative is good through 09/29/2025

23. 2025-11-14
    price $119,900 102-char remark

    Show marketing remark (102 chars)

    4-bedroom home located on Harsens Island. Freddie Mac First Look Initiative is good through 09/29/2025

24. 2025-08-29
    listed $139,900 Active 102-char remark

    Show marketing remark (102 chars)

    4-bedroom home located on Harsens Island. Freddie Mac First Look Initiative is good through 09/29/2025

25. 2025-08-29
    listed $139,900 Active 102-char remark

    Show marketing remark (102 chars)

    4-bedroom home located on Harsens Island. Freddie Mac First Look Initiative is good through 09/29/2025

ⓘ 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: $1,666 · $139/mo
• Projected year-2 tax: $1,666 · $139/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 3/10 Moderate FEMA zone X · 7% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,026
• − Mortgage interest: −$3,355
• − Property taxes: −$1,666
• − Insurance: −$300
• − Repairs & maintenance: −$1,282
• − Management: −$1,282
• − Depreciation: −$1,743
• Taxable income: $6,399
• Est. tax owed @ 24.0%: −$1,536
• After-tax cash flow: $5,390/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: Algonac Community School District
• NCES district ID: 2602190
• Math proficiency: 30% ▼ -7.00%
• Reading proficiency: 40% ▼ -9.00%
• Median HH income: $52,085
• Composite: 30.51/100
• National rank: #6210
• State rank: #273 of 540 in MI

Livability — Algonac

• Score: 63/100
• State rank: #524
• US rank: #15670

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,058

Population outlook (St. Clair County) Hauer SSP2

• Today (2025): 154,587 people
• By 2030: 150,031 · -2.9%
• By 2040: 138,177 · -10.6%
• By 2050: 124,390 · -19.5%
• By 2075: 95,825 · -38.0%
• By 2100: 68,672 · -55.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (99%)
• Race & ethnicity: White 99%
• Common ancestry: Lithuanian 11% Romanian 9% Iranian 4%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · German/W. Germanic 1% Other Indo-European 1%

Political lean MEDSL · St. Clair

• 2024 margin: Solid R (+34.6) · D 32.0% · R 66.6% · Other 1.4%
• 2008→2024 swing: -37.3pp toward R · 2008: 2.6pp · 2024: -34.6pp
• All cycles: 2024: R+34.6 2020: R+30.2 2016: R+31.4 2012: R+7.1 2008: D+2.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 30.47%
• Current HPI: 340.0
• 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

-57.2% since first listed

24 events — show timeline

• 2026-05-14 Price Changed $59,900 MiRealSource-MiMLS
• 2026-05-13 Price Changed $59,900 REALCOMP
• 2026-05-07 Relisted — REALCOMP
• 2026-05-07 Relisted — MiRealSource-MiMLS
• 2026-05-07 Listing Removed — MiRealSource-MiMLS
• 2026-05-06 Relisted — REALCOMP
• 2026-05-06 Relisted — MiRealSource-MiMLS
• 2026-04-28 Pending — REALCOMP
• 2026-04-28 Pending — MiRealSource-MiMLS
• 2026-04-28 Listing Removed — REALCOMP
• 2026-04-17 Price Changed $69,900 MiRealSource-MiMLS
• 2026-04-16 Price Changed $69,900 REALCOMP
• 2026-03-16 Relisted — REALCOMP
• 2026-03-16 Relisted — MiRealSource-MiMLS
• 2026-03-09 Pending — REALCOMP
• 2026-03-09 Pending — MiRealSource-MiMLS
• 2026-02-21 Price Changed $79,900 MiRealSource-MiMLS
• 2026-02-20 Price Changed $79,900 REALCOMP
• 2025-12-19 Price Changed $99,900 MiRealSource-MiMLS
• 2025-12-18 Price Changed $99,900 REALCOMP
• 2025-11-15 Price Changed $119,900 MiRealSource-MiMLS
• 2025-11-14 Price Changed $119,900 REALCOMP
• 2025-08-29 Listed $139,900 REALCOMP
• 2025-08-29 Listed $139,900 MiRealSource-MiMLS

Property tax history

+3.0%/yr

Latest (2025): $1,666 · +4.6% YoY. Source: county tax records.