6595 Whiteford Center Rd

Lambertville, MI 48144

$239,900D+

4 bd · 2.0 ba · 1,800 sqft · Built 1976 · SingleFamily · Pending · 90 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,219/mo
• Mortgage (P&I): −$1,258
• Tax + insurance: −$156
• HOA: −$0
• Vac / Maint / Mgmt: −$466
• Net cashflow: $339/mo
• Annual: $4,071/yr
• Cap rate: 7.99%
• Cash-on-cash: 6.06%
• DSCR: 1.27
• 1% rule: 0.93%
• Cash to close: $67,172

Investor read

• This is a 4-bed/2.0-bath single-family listed at $240k.
• At list price, monthly cash flow is $339 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $222k (7.5% below list).
• It's been on market 90 days — a 6% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $222k (7.5% below list) — sets the bar for 1% rule.
• 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.
• Location reads 80/100 on livability (#78 in MI, #1,689 nationally) — a professional / high-income tenant draw. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Bedford Public Schools (suburban): math 33% / reading 53% proficiency, ranked #150 of 540 in MI (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Douglas Road Elementary School (math 37% / reading 47%, grade F, #547 of 1,397 statewide, top 41%, 575 students, 32% FRL); Bedford Junior High School (math 30% / reading 52%, grade F, #195 of 493 statewide, top 41%, 911 students, 29% FRL); Bedford Senior High School (math 38% / reading 64%, grade D+, #142 of 713 statewide, top 20%, 1,294 students, 27% FRL).
• Market conditions: 28 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 264 units permitted in Monroe County in 2024 (40 in 5+ unit buildings).
• Monroe County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 10 sale attempts since 27y 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.
• Cap rate 8.0% vs local median 5.1% in Lambertville — 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.

Questions for listing agent

• It's been on market 90 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
• Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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?
• 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.