38204 Main St · New Baltimore, MI 48047

$219,000

3 bd · 1.0 ba · 1,063 sqft · SingleFamily public records · 12 Days on market

Built 1950 0.34 ac lot Est $223k · at est.

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Why this score? — see what drove the D 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 +12.7/30.0
• ARV discount +8.4/15.0
• Schools +4.4/10.0
• Livability +4.2/5.0
• 1% rule +3.8/10.0
• DSCR +3.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Turnkey tenant-occupied investment opportunity generating $1,800/month in rental income! This beautifully updated 3-bedroom, 1-bath home in desirable New Baltimore offers the perfect blend of modern upgrades and immediate cash flow. Situated on a huge lot, the property features a stunning new kitchen complete with granite countertops, stylish backsplash, and an open-concept layout perfect for today’s lifestyle. Additional updates include brand-new flooring throughout (carpet and vinyl), new trim, and new interior doors, creating a fresh and modern feel from top to bottom. The home also includes a newer washer and dryer for added convenience. Spacious outdoor space offers endless possibilities for entertaining, storage, or future expansion. A fantastic opportunity for investors seeking a move-in-ready property with reliable rental income already in place!

Key facts

• New flooring
• New trim
• Updated kitchen

Tags

• TURNKEY INVESTMENT OPPORTUNITY
• UPDATED KITCHEN
• GRANITE COUNTERTOPS
• OPEN-CONCEPT LAYOUT
• NEW FLOORING
• NEW TRIM

Property features AI

Finance

• Other: Residential property listed by MiRealSource
• HOA & community: Has homeowners association

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level
• Construction: Vinyl siding; Above-grade finished area approximately 1,100 square feet
• Exterior features: Lot dimensions approximately 50 x 295; Lot size about 0.34 acre; Subdivision: Subdivision of Outlot 1 Of Murdicks Beach; Located on the south side of Main St., east of County Line Rd.

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating (natural gas); No central cooling
• Interior features: Wood-burning fireplace in the family room; Crawl space basement; Total of 4 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $219k.

Deal economics

• At list price, monthly cash flow is $-25 ($-297/yr) — negative.
• To cash-flow at today's rent, offer at most $215k (2.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $193k (11.9% below list).
• Recommended offer: $193k (11.9% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 2.6% in New Baltimore — 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 85/100 on livability (#30 in MI, #597 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, cost of living A+; Watch: health & safety D+, amenities F.
• Anchor Bay School District (suburban): math 44% / reading 54% proficiency, ranked #91 of 540 in MI (top 17%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: 237 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,321 units permitted in Macomb County in 2024 (86 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Macomb County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 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.
• Current owner paid $150k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $192,834 (11.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.88% ✗
• Cap rate: 6.16%
• Cash-on-cash: -0.48%
• DSCR: 0.98
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $223,230
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
38088 Main St	0.09mi	3/1.0	1,080 (+2%)	4mo	$247,500	$229	90
38204 Main St	0.00mi	3/1.0	1,100 (+4%)	8mo	$150,000	$136	88
38125 Murdick Dr	0.10mi	3/1.5	1,190 (+12%)	16mo	$250,000	$210	60
50759 Holt St	0.58mi	3/1.0	1,172 (+10%)	0mo	$205,000	$175	55
50763 Lenox St	0.53mi	2/1.5 (-1)	950 (-11%)	6mo	$215,000	$226	45
7001 Brides Bay Ct	0.56mi	3/2.0	1,144 (+8%)	14mo	$37,900	$33	45

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: -17.1%
• Equity multiple: 0.40×
• Total profit: $-37,014
• Equity at exit: $32,654

10-year hold

• IRR: -8.9%
• Equity multiple: 0.44×
• Total profit: $-34,058
• Equity at exit: $18,935

Cash invested: $61,320 (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 48047

• Active inventory: 237
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,928 medium
• Mortgage (P&I): −$1,148
• Tax from tax record: −$308 /mo · $3,701/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $-25

Break-even live

Break-even rent $1,960

Max offer price $214,625

Occupancy floor 96%

Sensitivity live

Price	-10% $99	-5% $37	+0% $-25	+5% $-87	+10% $-149
Rent	-10% $-177	-5% $-101	+0% $-25	+5% $51	+10% $128
Rate	-1.0pp $86	-0.5pp $31	base $-25	+0.5pp $-82	+1.0pp $-139

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7061 Bethuy Rd Ira Township, MI	1.0–4.0	1.0–2.0	1204	$1,576	$1.31	4d	1	0.55mi
9769 Dixie Hwy Ira Township, MI	3.0	2.0	1056	$2,500	$2.37	25d	1	1.38mi

Listing history 8 events

1. 2026-06-21
   days on market $219,000 Active 12 DOM
2. 2026-06-18
   days on market $219,000 Active 9 DOM
3. 2026-06-17
   days on market $219,000 Active 8 DOM
4. 2026-06-16
   days on market $219,000 Active 7 DOM
5. 2026-06-15
   days on market $219,000 Active 6 DOM
6. 2026-06-13
   days on market $219,000 Active 4 DOM
7. 2026-06-10
   remarks 699-char remark
8. 2026-06-10
   listed $219,000 Active 1 DOM

ⓘ 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: $3,701 · $308/mo
• Projected year-2 tax: $3,701 · $308/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,140
• − Mortgage interest: −$12,267
• − Property taxes: −$3,701
• − Insurance: −$1,095
• − Repairs & maintenance: −$1,851
• − Management: −$1,851
• − Depreciation: −$6,371
• Taxable loss: −$3,997
• Est. tax savings @ 24.0%: +$959
• After-tax cash flow: $662/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: Anchor Bay School District
• NCES district ID: 2602790
• Math proficiency: 44% ▼ -12.00%
• Reading proficiency: 54% ▼ -7.00%
• Median HH income: $70,173
• Composite: 43.85/100
• National rank: #2925
• State rank: #91 of 540 in MI

Livability — New Baltimore

• Score: 85/100
• State rank: #30
• US rank: #597

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Baltimore, MI
• County: Macomb County · 638,552 people
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 40,302
• Household income: $94,890
• Rent vs Own: 18.5% rent · 81.5% own
• Severe rent burden: 529.0

Population outlook (Macomb County) Hauer SSP2

• Today (2025): 925,296 people
• By 2030: 948,226 · +2.5%
• By 2040: 983,961 · +6.3%
• By 2050: 1,010,200 · +9.2%
• By 2075: 1,076,222 · +16.3%
• By 2100: 1,077,065 · +16.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 6% Black 5% Hispanic / Latino 4% Asian 2%
• Common ancestry: Romanian 16% Lithuanian 6% Slovak 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 1% Other Indo-European 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Macomb

• 2024 margin: R (+13.7) · D 42.2% · R 55.9% · Other 1.9%
• 2008→2024 swing: -22.3pp toward R · 2008: 8.6pp · 2024: -13.7pp
• All cycles: 2024: R+13.7 2020: R+8.1 2016: R+11.6 2012: D+4.0 2008: D+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -265.06%
• Current HPI: 216.5914
• Rent YoY: —
• Metro: Detroit-Warren-Dearborn, 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

+114.7% since first listed

24 events — show timeline

• 2026-06-09 Listed $219,000 MiRealSource-MiMLS
• 2026-06-09 Listed $219,000 REALCOMP
• 2025-11-03 Sold (Public Records) $150,000 Public Records
• 2025-10-30 Sold (MLS) $150,000 MiRealSource-MiMLS
• 2025-10-30 Sold (MLS) $150,000 REALCOMP
• 2025-09-21 Pending — MiRealSource-MiMLS
• 2025-09-21 Pending — REALCOMP
• 2025-09-19 Relisted — MiRealSource-MiMLS
• 2025-09-19 Relisted — REALCOMP
• 2025-09-19 Pending — MiRealSource-MiMLS
• 2025-09-19 Pending — REALCOMP
• 2025-08-20 Price Changed $169,900 MiRealSource-MiMLS
• 2025-08-20 Price Changed $169,900 REALCOMP
• 2025-07-30 Price Changed $180,000 MiRealSource-MiMLS
• 2025-07-30 Price Changed $180,000 REALCOMP
• 2025-07-02 Price Changed $199,900 MiRealSource-MiMLS
• 2025-07-02 Price Changed $199,900 REALCOMP
• 2025-06-04 Price Changed $209,000 MiRealSource-MiMLS
• 2025-06-04 Price Changed $209,000 REALCOMP
• 2025-05-22 Listed $229,000 MiRealSource-MiMLS
• 2025-05-22 Listed $229,000 REALCOMP
• 2022-03-24 Price Changed $1,500 RENT.
• 2002-06-28 Sold (Public Records) $129,000 Public Records
• 2002-06-28 Sold (Public Records) $102,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $3,701 · +18.7% YoY. Source: county tax records.