11980 E S Gratiot County Line Rd

Duplain, MI 48831

$80,000B

3 bd · 1.5 ba · 1,000 sqft · Built 2002 · SingleFamily · Active · 88 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,018/mo
• Mortgage (P&I): −$420
• Tax + insurance: −$133
• HOA: −$0
• Vac / Maint / Mgmt: −$214
• Net cashflow: $251/mo
• Annual: $3,013/yr
• Cap rate: 10.06%
• Cash-on-cash: 13.45%
• DSCR: 1.60
• 1% rule: 1.27%
• Cash to close: $22,400

Investor read

• This is a 3-bed/1.5-bath single-family listed at $80k. Condition is rated fair.
• At list price, monthly cash flow is $251 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• It's been on market 88 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $75k (6.0% 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 B — affects rentability + tenant quality, not the cash-flow math above.
• Ovid-Elsie Area Schools (rural): math 33% / reading 46% proficiency, ranked #214 of 540 in MI (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 15 active listings in the ZIP; 154 units permitted in Clinton County in 2024 (0 in 5+ unit buildings).
• 4 sale attempts since 8y ago; this cycle's ask has dropped $19k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $14k; list at $80k implies a 484% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~9 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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)

• Major: Exposed subfloor — Exposed subfloor in kitchen, bath, and exterior
• Major: Exposed cabinets — Exposed cabinets in kitchen
• Major: Exposed walls — Exposed walls in kitchen, bath, and exterior