1975 Brown Rd

Richfield, MI 48656

$80,000C-

1 bd · 1.0 ba · 558 sqft · Built — · SingleFamily · Active · 279 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $768/mo
• Mortgage (P&I): −$420
• Tax + insurance: −$95
• HOA: −$0
• Vac / Maint / Mgmt: −$161
• Net cashflow: $93/mo
• Annual: $1,110/yr
• Cap rate: 7.68%
• Cash-on-cash: 4.96%
• DSCR: 1.22
• 1% rule: 0.96%
• Cash to close: $22,400

Investor read

• This is a 1-bed/1.0-bath single-family listed at $80k.
• At list price, monthly cash flow is $93 ($1k/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 $77k (4.0% below list).
• It's been on market 279 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Roscommon Area Public Schools (rural): math 30% / reading 44% proficiency, ranked #270 of 540 in MI (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Roscommon Elementary School (math 34% / reading 24%, grade F, #866 of 1,397 statewide, top 65%, 266 students, 58% FRL); Roscommon Middle School (math 26% / reading 40%, grade F, #306 of 493 statewide, top 63%, 192 students, 55% FRL); Roscommon High School (math 32% / reading 57%, grade F, #214 of 713 statewide, top 36%, 363 students, 51% FRL) — zoned schools at 55% FRL track the district average.
• Market conditions: 76 active listings in the ZIP; 73 units permitted in Roscommon County in 2024 (0 in 5+ unit buildings).
• Roscommon County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 279 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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.