714 Cherry St · Charlotte, MI 48813

$99,900

3 bd · 1.0 ba · 1,260 sqft · SingleFamily public records · 5 Days on market

Built 1952 0.34 ac lot $79/sqft · 45% below area Est $182k · 45% 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 +9.0/10.0
• Livability +3.7/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Calling for all highest and best offers by 8pm, Friday, May 15th. Welcome home to this spacious 3-bedroom ranch situated on a huge . 34-acre lot with excellent curb appeal and tons of potential! Offering a functional layout with good-sized bedrooms, a large full bathroom, and an open kitchen perfect for everyday living or entertaining. The home features a deep 1-car pull-through garage providing great storage and convenience, along with a large storage shed for additional space. Inside offers solid bones and plenty of room to make it your own with just a little TLC. Enjoy the expansive backyard with endless possibilities for outdoor entertaining, gardening, pets, or recreation. Convenient ranch-style living with everything on one level, making this home a great opportunity for first-time buyers, investors, or anyone looking to build equity. Don't miss your chance to own a property with space, potential, and value all in one package!

Key facts

• Expansive backyard
• Huge lot
• Ranch-style living

Tags

• HUGE LOT
• DEEP PULL-THROUGH GARAGE
• LARGE STORAGE SHED
• EXPANSIVE BACKYARD
• RANCH-STYLE LIVING

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Home design: Ranch-style single family residence; Built in 1952
• Construction: Vinyl siding
• Exterior features: Paved road access; Shed(s) on property; Public water

Interior

• Kitchen: Microwave; Oven; Range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: 7 total rooms; Slab basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $377 ($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 10.8% vs local median 3.8% in Charlotte — 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 73/100 on livability (#219 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime D, amenities F.
• Charlotte Public Schools (town): math 31% / reading 40% proficiency, ranked #261 of 540 in MI (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 97 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 98 units permitted in Eaton County in 2024 (0 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.
• Eaton County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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 $70k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,900

Questions for the listing agent

1. Built in 1952 — 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. 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?
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: 1.40% ✓
• Cap rate: 10.82%
• Cash-on-cash: 16.17%
• DSCR: 1.72
• GRM: 5.9

CMA / ARV

• ARV (median comp): $181,883
• List price: $99,900
• Delta: -45.07%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
720 Cherry St	0.05mi	3/1.0	1,412 (+12%)	15mo	$150,000	$106	65
832 Walnut St	0.34mi	2/1.0 (-1)	1,346 (+7%)	9mo	$180,000	$134	60
607 W Henry St	0.23mi	3/1.5	1,076 (-15%)	9mo	$191,500	$178	56
512 Opal St	0.42mi	3/1.0	1,074 (-15%)	4mo	$144,900	$135	52
208 W 1st St	0.62mi	3/1.0	1,163 (-8%)	7mo	$195,000	$168	52
116 E First St	0.74mi	3/1.5	1,164 (-8%)	1mo	$180,000	$155	50
1150 Porter Dr	0.64mi	3/2.5	1,158 (-8%)	2mo	$260,000	$225	49
508 W 3rd St	0.56mi	3/1.5	1,120 (-11%)	8mo	$189,501	$169	47
509 W 3rd St	0.58mi	4/1.0 (+1)	1,400 (+11%)	6mo	$195,000	$139	45
340 Horatio St	0.69mi	3/1.5	1,142 (-9%)	6mo	$117,000	$102	45
324 Horatio St	0.70mi	3/2.0	1,320 (+5%)	14mo	$180,000	$136	44
203 N Sheldon St	0.68mi	3/2.0	1,347 (+7%)	14mo	$220,000	$163	41

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: 7.2%
• Equity multiple: 1.28×
• Total profit: $7,863
• Equity at exit: $14,895

10-year hold

• IRR: 16.5%
• Equity multiple: 2.36×
• Total profit: $37,941
• 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 48813

• Active inventory: 97
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,400 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$164 /mo · $1,963/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $377

Break-even live

Break-even rent $923

Max offer price $99,900

Occupancy floor 68%

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: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
402 S Cochran Ave Charlotte, MI	3.0	1.0	1280	$1,400	$1.09	14d	1	0.56mi

Listing history 7 events

1. 2026-05-17
   status Pending 946-char remark

   Show marketing remark (946 chars)

   Calling for all highest and best offers by 8pm, Friday, May 15th. Welcome home to this spacious 3-bedroom ranch situated on a huge . 34-acre lot with excellent curb appeal and tons of potential! Offering a functional layout with good-sized bedrooms, a large full bathroom, and an open kitchen perfect for everyday living or entertaining. The home features a deep 1-car pull-through garage providing great storage and convenience, along with a large storage shed for additional space. Inside offers solid bones and plenty of room to make it your own with just a little TLC. Enjoy the expansive backyard with endless possibilities for outdoor entertaining, gardening, pets, or recreation. Convenient ranch-style living with everything on one level, making this home a great opportunity for first-time buyers, investors, or anyone looking to build equity. Don't miss your chance to own a property with space, potential, and value all in one package!

2. 2026-05-17
   status Pending 946-char remark

   Show marketing remark (946 chars)

   Calling for all highest and best offers by 8pm, Friday, May 15th. Welcome home to this spacious 3-bedroom ranch situated on a huge . 34-acre lot with excellent curb appeal and tons of potential! Offering a functional layout with good-sized bedrooms, a large full bathroom, and an open kitchen perfect for everyday living or entertaining. The home features a deep 1-car pull-through garage providing great storage and convenience, along with a large storage shed for additional space. Inside offers solid bones and plenty of room to make it your own with just a little TLC. Enjoy the expansive backyard with endless possibilities for outdoor entertaining, gardening, pets, or recreation. Convenient ranch-style living with everything on one level, making this home a great opportunity for first-time buyers, investors, or anyone looking to build equity. Don't miss your chance to own a property with space, potential, and value all in one package!

3. 2026-05-17
   status Pending

   Show marketing remark (946 chars)

   Calling for all highest and best offers by 8pm, Friday, May 15th. Welcome home to this spacious 3-bedroom ranch situated on a huge . 34-acre lot with excellent curb appeal and tons of potential! Offering a functional layout with good-sized bedrooms, a large full bathroom, and an open kitchen perfect for everyday living or entertaining. The home features a deep 1-car pull-through garage providing great storage and convenience, along with a large storage shed for additional space. Inside offers solid bones and plenty of room to make it your own with just a little TLC. Enjoy the expansive backyard with endless possibilities for outdoor entertaining, gardening, pets, or recreation. Convenient ranch-style living with everything on one level, making this home a great opportunity for first-time buyers, investors, or anyone looking to build equity. Don't miss your chance to own a property with space, potential, and value all in one package!

4. 2026-05-12
   listed $99,900 Active 946-char remark

   Show marketing remark (946 chars)

   Calling for all highest and best offers by 8pm, Friday, May 15th. Welcome home to this spacious 3-bedroom ranch situated on a huge . 34-acre lot with excellent curb appeal and tons of potential! Offering a functional layout with good-sized bedrooms, a large full bathroom, and an open kitchen perfect for everyday living or entertaining. The home features a deep 1-car pull-through garage providing great storage and convenience, along with a large storage shed for additional space. Inside offers solid bones and plenty of room to make it your own with just a little TLC. Enjoy the expansive backyard with endless possibilities for outdoor entertaining, gardening, pets, or recreation. Convenient ranch-style living with everything on one level, making this home a great opportunity for first-time buyers, investors, or anyone looking to build equity. Don't miss your chance to own a property with space, potential, and value all in one package!

5. 2026-05-12
   listed $99,900 Active 946-char remark

   Show marketing remark (946 chars)

   Calling for all highest and best offers by 8pm, Friday, May 15th. Welcome home to this spacious 3-bedroom ranch situated on a huge . 34-acre lot with excellent curb appeal and tons of potential! Offering a functional layout with good-sized bedrooms, a large full bathroom, and an open kitchen perfect for everyday living or entertaining. The home features a deep 1-car pull-through garage providing great storage and convenience, along with a large storage shed for additional space. Inside offers solid bones and plenty of room to make it your own with just a little TLC. Enjoy the expansive backyard with endless possibilities for outdoor entertaining, gardening, pets, or recreation. Convenient ranch-style living with everything on one level, making this home a great opportunity for first-time buyers, investors, or anyone looking to build equity. Don't miss your chance to own a property with space, potential, and value all in one package!

6. 2026-05-12
   listed $99,900 Active

   Show marketing remark (946 chars)

   Calling for all highest and best offers by 8pm, Friday, May 15th. Welcome home to this spacious 3-bedroom ranch situated on a huge . 34-acre lot with excellent curb appeal and tons of potential! Offering a functional layout with good-sized bedrooms, a large full bathroom, and an open kitchen perfect for everyday living or entertaining. The home features a deep 1-car pull-through garage providing great storage and convenience, along with a large storage shed for additional space. Inside offers solid bones and plenty of room to make it your own with just a little TLC. Enjoy the expansive backyard with endless possibilities for outdoor entertaining, gardening, pets, or recreation. Convenient ranch-style living with everything on one level, making this home a great opportunity for first-time buyers, investors, or anyone looking to build equity. Don't miss your chance to own a property with space, potential, and value all in one package!

7. 2004-05-04
   soldstatus $69,900

ⓘ 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: $1,963 · $164/mo
• Projected year-2 tax: $1,963 · $164/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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°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: $16,800
• − Mortgage interest: −$5,596
• − Property taxes: −$1,963
• − Insurance: −$500
• − Repairs & maintenance: −$1,344
• − Management: −$1,344
• − Depreciation: −$2,906
• Taxable income: $3,148
• Est. tax owed @ 24.0%: −$755
• After-tax cash flow: $3,768/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: Charlotte Public Schools
• NCES district ID: 2608770
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 40% ▼ -7.00%
• Median HH income: $54,722
• Composite: 31.18/100
• National rank: #6048
• State rank: #261 of 540 in MI

Livability — Charlotte

• Score: 73/100
• State rank: #219
• US rank: #5414

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Charlotte, MI
• City population: 20,263
• Population (ZIP): 20,263

Population outlook (Eaton County) Hauer SSP2

• Today (2025): 110,811 people
• By 2030: 110,598 · -0.2%
• By 2040: 108,304 · -2.3%
• By 2050: 104,961 · -5.3%
• By 2075: 97,197 · -12.3%
• By 2100: 85,150 · -23.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 6% Hispanic / Latino 5% Black 1%
• Common ancestry: Romanian 5% Lithuanian 3% Iranian 3%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Eaton

• 2024 margin: Toss-up / Even · D 47.6% · R 50.8% · Other 1.6%
• 2008→2024 swing: -11.6pp toward R · 2008: 8.4pp · 2024: -3.1pp
• All cycles: 2024: R+3.1 2020: R+0.8 2016: R+5.5 2012: D+3.1 2008: D+8.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -194.48%
• Current HPI: 183.0171
• 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

+42.9% since first listed

7 events — show timeline

• 2026-05-17 Pending — MiRealSource-MiMLS
• 2026-05-17 Pending — REALCOMP
• 2026-05-17 Pending — SW Michigan MLS
• 2026-05-12 Listed $99,900 SW Michigan MLS
• 2026-05-12 Listed $99,900 REALCOMP
• 2026-05-12 Listed $99,900 MiRealSource-MiMLS
• 2004-05-04 Sold (Public Records) $69,900 Public Records

Property tax history

+3.7%/yr

Latest (2025): $1,963 · +2.9% YoY. Source: county tax records.