275 S Reed St · Ashley, MI 48806

$115,000

3 bd · 2.0 ba · 1,456 sqft · SingleFamily · 21 Days on market

Built 1996 0.40 ac lot $79/sqft · 29% below area Est $161k · 29% under

---

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 +26.0/30.0
• ARV discount +15.0/15.0
• Appreciation +9.8/10.0
• DSCR +8.8/10.0
• 1% rule +6.0/10.0
• Livability +2.9/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Located in the Villiage of Ashley this 3 bedroom, 2 bath ranch with detached two car garage is ready for your vision. Features a large primary bedroom with full bath and walk-in closet. The kitchen has a generous amount of cupboard space and dishwasher. A sliding glass door leads from the dining area to the 3 seasons porch. Additional bedrooms also feature walk-in closets.

Key facts

• 3 seasons porch
• Walk-in closet
• Full bath

Tags

• DETACHED TWO CAR GARAGE
• LARGE PRIMARY BEDROOM
• FULL BATH
• WALK-IN CLOSET
• SLIDING GLASS DOOR
• 3 SEASONS PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $288 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $113k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 57/100 on livability (#645 in MI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Ashley Community Schools (rural): math 25% / reading 30% proficiency, ranked #567 of 760 in MI (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 7 active listings in the ZIP; 47 units permitted in Gratiot County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($795 loan paydown + $11k appreciation (9.7% local appreciation)).
• Gratiot County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.7% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 2 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 $113,275 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. Crime grade is F 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?
4. 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.
5. 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.
6. 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: 1.10% ✓
• Cap rate: 9.29%
• Cash-on-cash: 10.72%
• DSCR: 1.48
• GRM: 7.6

CMA / ARV

• ARV (median comp): $161,422
• List price: $115,000
• Delta: -28.76%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
113 S Herring St	0.22mi	3/2.0	1,620 (+11%)	14mo	$171,500	$106	59

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

9.65% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 31.5%
• Equity multiple: 3.43×
• Total profit: $78,136
• Equity at exit: $100,639

10-year hold

• IRR: 27.3%
• Equity multiple: 7.67×
• Total profit: $214,930
• Equity at exit: $213,956

Cash invested: $32,200 (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 48806

• Home prices YoY: 6.6%
• Active inventory: 7
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,266 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$61 /mo · $734/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $288

Break-even live

Break-even rent $901

Max offer price $115,000

Occupancy floor 72%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-12
   statusdays on market $115,000 Pending 21 DOM
2. 2026-06-09
   days on market $115,000 Active 18 DOM
3. 2026-06-08
   days on market $115,000 Active 17 DOM
4. 2026-06-07
   days on market $115,000 Active 16 DOM
5. 2026-06-05
   days on market $115,000 Active 14 DOM
6. 2026-06-04
   days on market $115,000 Active 12 DOM
7. 2026-06-02
   status $115,000 Active 11 DOM
8. 2026-05-03
   status Pending 375-char remark

   Show marketing remark (375 chars)

   Located in the Villiage of Ashley this 3 bedroom, 2 bath ranch with detached two car garage is ready for your vision. Features a large primary bedroom with full bath and walk-in closet. The kitchen has a generous amount of cupboard space and dishwasher. A sliding glass door leads from the dining area to the 3 seasons porch. Additional bedrooms also feature walk-in closets.

9. 2026-05-03
   status Pending 375-char remark

   Show marketing remark (375 chars)

   Located in the Villiage of Ashley this 3 bedroom, 2 bath ranch with detached two car garage is ready for your vision. Features a large primary bedroom with full bath and walk-in closet. The kitchen has a generous amount of cupboard space and dishwasher. A sliding glass door leads from the dining area to the 3 seasons porch. Additional bedrooms also feature walk-in closets.

10. 2026-04-22
    listed $115,000 Active 375-char remark

    Show marketing remark (375 chars)

    Located in the Villiage of Ashley this 3 bedroom, 2 bath ranch with detached two car garage is ready for your vision. Features a large primary bedroom with full bath and walk-in closet. The kitchen has a generous amount of cupboard space and dishwasher. A sliding glass door leads from the dining area to the 3 seasons porch. Additional bedrooms also feature walk-in closets.

11. 2026-04-22
    listed $115,000 Active 375-char remark

    Show marketing remark (375 chars)

    Located in the Villiage of Ashley this 3 bedroom, 2 bath ranch with detached two car garage is ready for your vision. Features a large primary bedroom with full bath and walk-in closet. The kitchen has a generous amount of cupboard space and dishwasher. A sliding glass door leads from the dining area to the 3 seasons porch. Additional bedrooms also feature walk-in closets.

ⓘ 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: $734 · $61/mo
• Projected year-2 tax: $1,252 · $104/mo
• Expected delta: +$519/yr (+$43/mo · 70.7%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,187
• − Mortgage interest: −$6,442
• − Property taxes: −$734
• − Insurance: −$575
• − Repairs & maintenance: −$1,215
• − Management: −$1,215
• − Depreciation: −$3,345
• Taxable income: $1,661
• Est. tax owed @ 24.0%: −$399
• After-tax cash flow: $3,053/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: Ashley Community Schools
• NCES district ID: 2603480
• Math proficiency: 25% ▲ 15.00%
• Reading proficiency: 30% ▲ 10.00%
• Median HH income: $43,927
• Composite: 26.48/100
• National rank: #12635
• State rank: #567 of 760 in MI

Livability — Ashley

• Score: 57/100
• State rank: #645
• US rank: #21904

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ashley, MI
• Population (ZIP): 1,821

Population outlook (Gratiot County) Hauer SSP2

• Today (2025): 39,991 people
• By 2030: 38,944 · -2.6%
• By 2040: 36,694 · -8.2%
• By 2050: 34,314 · -14.2%
• By 2075: 27,693 · -30.8%
• By 2100: 20,809 · -48.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 4% Iranian 2% Hungarian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Gratiot

• 2024 margin: Solid R (+31.3) · D 33.7% · R 65.0% · Other 1.4%
• 2008→2024 swing: -35.7pp toward R · 2008: 4.4pp · 2024: -31.3pp
• All cycles: 2024: R+31.3 2020: R+28.3 2016: R+25.6 2012: R+3.9 2008: D+4.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 9.65%
• Current HPI: 156.4149
• 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

+0.0% since first listed

4 events — show timeline

• 2026-05-03 Pending — REALCOMP
• 2026-05-03 Pending — MiRealSource-MiMLS
• 2026-04-22 Listed $115,000 MiRealSource-MiMLS
• 2026-04-22 Listed $115,000 REALCOMP