1312 Emerald Dr · Niles, MI 49120

$99,900

3 bd · 1.5 ba · 1,136 sqft · SingleFamily public records · 3 Days on market

Built 1961 7,976 sqft lot Est $184k · 46% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• Livability +3.6/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This fixer upper is packed with potential and ready for someone to bring it back to life! This one story home offers a one car attached garage, fenced backyard, and a functional layout featuring an open concept kitchen and dining area. Inside, you'll find 3 bedrooms, 2 bathrooms, and main level laundry. Several windows have already been updated, and both bathroom renovations have been started, giving the next owner a head start on improvements. Perfect opportunity for an investor, flipper, or buyer looking to build sweat equity with a home that needs cosmetic updates throughout.

Key facts

• Open concept kitchen
• Attached garage
• Bathroom renovations

Tags

• FENCED BACKYARD
• OPEN CONCEPT KITCHEN
• ATTACHED GARAGE
• UPDATED WINDOWS
• BATHROOM RENOVATIONS

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water
• Home design: Ranch-style single-family home; One-story
• Construction: Built in 1961
• Exterior features: Aluminum siding; Lot is about 0.18 acres; Public water

Interior

• Bedrooms: Primary bedroom approximately 10 x 12; Second bedroom approximately 10 x 11; Third bedroom approximately 10 x 10
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Has heating
• Interior features: Total of 3 rooms; Slab foundation/basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $426 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Cap rate 11.4% vs local median 4.3% in Niles — 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 72/100 on livability (#260 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute D+, schools D, crime D-.
• Brandywine Community Schools (suburban): math 25% / reading 38% proficiency, ranked #342 of 540 in MI (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 208 active listings in the ZIP; 397 units permitted in Berrien County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Berrien County population projected at -16% 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 $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Recommended offer $99,900

Questions for the listing agent

1. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is D 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?
5. 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.
6. 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.
7. 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: 1.38% ✓
• Cap rate: 11.40%
• Cash-on-cash: 18.26%
• DSCR: 1.81
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $184,032
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1312 Emerald Dr	0.00mi	3/2.0	1,136 (0%)	0mo	$112,100	$99	98
1321 Fairfield Dr	0.11mi	3/1.0	1,157 (+2%)	1mo	$200,000	$173	89
1307 Emerald Dr	0.03mi	3/1.5	1,164 (+2%)	24mo	$156,500	$134	74
2314 Westfield Dr	0.17mi	3/1.0	992 (-13%)	4mo	$94,500	$95	65
1409 Fairfield Dr	0.18mi	3/1.0	1,037 (-9%)	14mo	$168,000	$162	63
2521 S 13th St	0.43mi	3/2.0	1,032 (-9%)	1mo	$225,000	$218	62
1512 Northfield Dr	0.27mi	3/1.0	1,025 (-10%)	15mo	$167,250	$163	57
1501 Northfield Dr	0.20mi	3/1.0	1,248 (+10%)	22mo	$184,900	$148	54
2646 S 14th St	0.62mi	3/1.0	1,082 (-5%)	14mo	$195,000	$180	50
1512 Mould Ave	0.64mi	3/1.0	1,008 (-11%)	1mo	$197,500	$196	48
1404 Mould Ave	0.61mi	2/1.5 (-1)	1,248 (+10%)	2mo	$185,250	$148	48
1951 S 14th St	0.63mi	2/1.0 (-1)	989 (-13%)	6mo	$151,000	$153	37

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: 9.9%
• Equity multiple: 1.39×
• Total profit: $10,923
• Equity at exit: $14,895

10-year hold

• IRR: 19.0%
• Equity multiple: 2.59×
• Total profit: $44,439
• Equity at exit: $8,638

Cash invested: $27,972 (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 49120

• Active inventory: 208
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,382 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$101 /mo · $1,211/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $426

Break-even live

Break-even rent $844

Max offer price $99,900

Occupancy floor 64%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-05-22
   status Pending 585-char remark

   Show marketing remark (585 chars)

   This fixer upper is packed with potential and ready for someone to bring it back to life! This one story home offers a one car attached garage, fenced backyard, and a functional layout featuring an open concept kitchen and dining area. Inside, you'll find 3 bedrooms, 2 bathrooms, and main level laundry. Several windows have already been updated, and both bathroom renovations have been started, giving the next owner a head start on improvements. Perfect opportunity for an investor, flipper, or buyer looking to build sweat equity with a home that needs cosmetic updates throughout.

2. 2026-05-22
   status Pending 585-char remark

   Show marketing remark (585 chars)

   This fixer upper is packed with potential and ready for someone to bring it back to life! This one story home offers a one car attached garage, fenced backyard, and a functional layout featuring an open concept kitchen and dining area. Inside, you'll find 3 bedrooms, 2 bathrooms, and main level laundry. Several windows have already been updated, and both bathroom renovations have been started, giving the next owner a head start on improvements. Perfect opportunity for an investor, flipper, or buyer looking to build sweat equity with a home that needs cosmetic updates throughout.

3. 2026-05-22
   status Pending

   Show marketing remark (585 chars)

   This fixer upper is packed with potential and ready for someone to bring it back to life! This one story home offers a one car attached garage, fenced backyard, and a functional layout featuring an open concept kitchen and dining area. Inside, you'll find 3 bedrooms, 2 bathrooms, and main level laundry. Several windows have already been updated, and both bathroom renovations have been started, giving the next owner a head start on improvements. Perfect opportunity for an investor, flipper, or buyer looking to build sweat equity with a home that needs cosmetic updates throughout.

4. 2026-05-22
   status Pending

   Show marketing remark (585 chars)

   This fixer upper is packed with potential and ready for someone to bring it back to life! This one story home offers a one car attached garage, fenced backyard, and a functional layout featuring an open concept kitchen and dining area. Inside, you'll find 3 bedrooms, 2 bathrooms, and main level laundry. Several windows have already been updated, and both bathroom renovations have been started, giving the next owner a head start on improvements. Perfect opportunity for an investor, flipper, or buyer looking to build sweat equity with a home that needs cosmetic updates throughout.

5. 2026-05-19
   listed $99,900 Active 585-char remark

   Show marketing remark (585 chars)

   This fixer upper is packed with potential and ready for someone to bring it back to life! This one story home offers a one car attached garage, fenced backyard, and a functional layout featuring an open concept kitchen and dining area. Inside, you'll find 3 bedrooms, 2 bathrooms, and main level laundry. Several windows have already been updated, and both bathroom renovations have been started, giving the next owner a head start on improvements. Perfect opportunity for an investor, flipper, or buyer looking to build sweat equity with a home that needs cosmetic updates throughout.

6. 2026-05-19
   listed $99,900 Active 585-char remark

   Show marketing remark (585 chars)

   This fixer upper is packed with potential and ready for someone to bring it back to life! This one story home offers a one car attached garage, fenced backyard, and a functional layout featuring an open concept kitchen and dining area. Inside, you'll find 3 bedrooms, 2 bathrooms, and main level laundry. Several windows have already been updated, and both bathroom renovations have been started, giving the next owner a head start on improvements. Perfect opportunity for an investor, flipper, or buyer looking to build sweat equity with a home that needs cosmetic updates throughout.

7. 2026-05-19
   listed $99,900 Active

   Show marketing remark (585 chars)

   This fixer upper is packed with potential and ready for someone to bring it back to life! This one story home offers a one car attached garage, fenced backyard, and a functional layout featuring an open concept kitchen and dining area. Inside, you'll find 3 bedrooms, 2 bathrooms, and main level laundry. Several windows have already been updated, and both bathroom renovations have been started, giving the next owner a head start on improvements. Perfect opportunity for an investor, flipper, or buyer looking to build sweat equity with a home that needs cosmetic updates throughout.

8. 2026-05-19
   listed $99,900 Active

   Show marketing remark (585 chars)

   This fixer upper is packed with potential and ready for someone to bring it back to life! This one story home offers a one car attached garage, fenced backyard, and a functional layout featuring an open concept kitchen and dining area. Inside, you'll find 3 bedrooms, 2 bathrooms, and main level laundry. Several windows have already been updated, and both bathroom renovations have been started, giving the next owner a head start on improvements. Perfect opportunity for an investor, flipper, or buyer looking to build sweat equity with a home that needs cosmetic updates throughout.

ⓘ 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: $1,211 · $101/mo
• Projected year-2 tax: $1,375 · $115/mo
• Expected delta: +$164/yr (+$14/mo · 13.5%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,587
• − Mortgage interest: −$5,596
• − Property taxes: −$1,211
• − Insurance: −$500
• − Repairs & maintenance: −$1,327
• − Management: −$1,327
• − Depreciation: −$2,906
• Taxable income: $3,721
• Est. tax owed @ 24.0%: −$893
• After-tax cash flow: $4,214/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: Brandywine Community Schools
• NCES district ID: 2606600
• Math proficiency: 25% ▼ -7.00%
• Reading proficiency: 38% ▼ -4.00%
• Median HH income: $46,075
• Composite: 27.02/100
• National rank: #7059
• State rank: #342 of 540 in MI

Livability — Niles

• Score: 72/100
• State rank: #260
• US rank: #6422

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Berrien County · 71,477 people
• City population: 36,495
• Metro: Niles, MI
• Population (ZIP): 36,495
• Household income: $65,148
• Rent vs Own: 20.9% rent · 79.1% own
• Severe rent burden: 782.0

Population outlook (Berrien County) Hauer SSP2

• Today (2025): 149,273 people
• By 2030: 145,211 · -2.7%
• By 2040: 135,435 · -9.3%
• By 2050: 125,543 · -15.9%
• By 2075: 103,986 · -30.3%
• By 2100: 82,256 · -44.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Black 7% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Romanian 5% Iranian 3% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Berrien

• 2024 margin: Lean R (+7.9) · D 45.4% · R 53.2% · Other 1.4%
• 2008→2024 swing: -13.3pp toward R · 2008: 5.5pp · 2024: -7.9pp
• All cycles: 2024: R+7.9 2020: R+7.4 2016: R+12.7 2012: R+6.6 2008: D+5.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -345.26%
• Current HPI: 195.8214
• Rent YoY: —
• Metro: Niles, MI
• 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

+0.0% since first listed

8 events — show timeline

• 2026-05-22 Pending — REALCOMP
• 2026-05-22 Pending — IRMLS
• 2026-05-22 Pending — MiRealSource-MiMLS
• 2026-05-22 Pending — SW Michigan MLS
• 2026-05-19 Listed $99,900 SW Michigan MLS
• 2026-05-19 Listed $99,900 MiRealSource-MiMLS
• 2026-05-19 Listed $99,900 IRMLS
• 2026-05-19 Listed $99,900 REALCOMP

Property tax history

+2.0%/yr

Latest (2024): $1,211 · +5.7% YoY. Source: county tax records.