1128 Rashell Dr

Crystal, MI 48818

$118,000C-

2 bd · 2.0 ba · 1,216 sqft · Built 1994 · SingleFamily · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,277/mo
• Mortgage (P&I): −$619
• Tax + insurance: −$197
• HOA: −$0
• Vac / Maint / Mgmt: −$268
• Net cashflow: $193/mo
• Annual: $2,316/yr
• Cap rate: 8.26%
• Cash-on-cash: 7.01%
• DSCR: 1.31
• 1% rule: 1.08%
• Cash to close: $33,040

Investor read

• This is a 2-bed/2.0-bath single-family listed at $118k.
• At list price, monthly cash flow is $193 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $118k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $816 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Carson City-Crystal Area Schools (rural): math 17% / reading 27% proficiency, ranked #449 of 540 in MI (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 21 active listings in the ZIP; 273 units permitted in Montcalm County in 2024 (5 in 5+ unit buildings).
• Montcalm County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 11y ago 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.
• Current owner paid $33k; list at $118k implies a 259% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• 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.