7389 E Monroe Rd · Wheeler, MI 48615

$169,900

4 bd · 2.0 ba · 2,071 sqft · SingleFamily · 20 Days on market

Built 1959 1.30 ac lot

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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 +14.6/30.0
• Appreciation +9.3/10.0
• ARV discount +7.5/15.0
• DSCR +4.5/10.0
• Schools +3.0/10.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Wheeler Twp - Breckenridge Schools; 4 bed / 2 bath ranch home on 1.3 acres. All appliances stay, book your showing today!

Key facts

• 1.3 acre lot
• Garage
• Built 1959

Property features AI

Finance

• HOA & community: Homeowners association present

Exterior

• Parking: Attached garage with automatic opener; 1 garage space
• Utilities: Private well water; Septic tank sewer
• Home design: Single-family residence; One level
• Construction: Wood siding; Block foundation; Built above grade finished area of 2,071 square feet
• Exterior features: Deck; Shed(s); Publicly maintained road

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Gas water heater; Dishwasher; Oven; Range; Refrigerator; Crawl space/block basement; 9 total rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $41 ($495/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 $134k (21.0% below list).
• Recommended offer: $134k (21.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Breckenridge Community Schools (rural): math 29% / reading 42% proficiency, ranked #276 of 540 in MI (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 11 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 $16k of equity ($1k loan paydown + $15k appreciation (8.6% 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 (8.6% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 17y 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 $82k; list at $170k implies a 106% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $134,246 (21.0% below list)

Questions for the listing agent

1. Built in 1959 — 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. 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?
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: 0.79% ✗
• Cap rate: 6.58%
• Cash-on-cash: 1.04%
• DSCR: 1.05
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $103,550
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
620 Cedar St	0.48mi	3/2.0 (-1)	2,130 (+3%)	11mo	$35,000	$16	59
214 Seventh St	0.46mi	3/1.0 (-1)	1,824 (-12%)	12mo	$130,000	$71	40
304 E Chestnut	0.71mi	4/2.0	2,200 (+6%)	23mo	$110,000	$50	37

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

Projected returns pro-forma

8.62% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.1%
• Equity multiple: 2.67×
• Total profit: $79,317
• Equity at exit: $136,285

10-year hold

• IRR: 20.1%
• Equity multiple: 5.80×
• Total profit: $228,563
• Equity at exit: $277,705

Cash invested: $47,572 (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 48615

• Home prices YoY: 3.6%
• Active inventory: 11
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,342 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$58 /mo · $690/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $41

Break-even live

Break-even rent $1,290

Max offer price $169,900

Occupancy floor 92%

Sensitivity live

Price	-10% $137	-5% $89	+0% $41	+5% $-7	+10% $-55
Rent	-10% $-65	-5% $-12	+0% $41	+5% $94	+10% $147
Rate	-1.0pp $127	-0.5pp $84	base $41	+0.5pp $-3	+1.0pp $-48

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-21
   days on market $169,900 Active 20 DOM
2. 2026-06-19
   days on market $169,900 Active 18 DOM
3. 2026-06-18
   days on market $169,900 Active 17 DOM
4. 2026-06-17
   days on market $169,900 Active 16 DOM
5. 2026-06-16
   days on market $169,900 Active 15 DOM
6. 2026-06-15
   pricedays on market $169,900 Active 14 DOM
7. 2026-06-14
   days on market $174,900 Active 12 DOM
8. 2026-06-13
   days on market $174,900 Active 11 DOM
9. 2026-06-10
   days on market $174,900 Active 9 DOM
10. 2026-06-09
    days on market $174,900 Active 8 DOM
11. 2026-06-08
    days on market $174,900 Active 7 DOM
12. 2026-06-07
    days on market $174,900 Active 6 DOM
13. 2026-06-05
    days on market $174,900 Active 3 DOM
14. 2026-06-02
    remarks 121-char remark

    Show marketing remark (121 chars)

    Wheeler Twp - Breckenridge Schools; 4 bed / 2 bath ranch home on 1.3 acres. All appliances stay, book your showing today!

15. 2026-06-02
    listed $174,900 Active 1 DOM

    Show marketing remark (121 chars)

    Wheeler Twp - Breckenridge Schools; 4 bed / 2 bath ranch home on 1.3 acres. All appliances stay, book your showing today!

ⓘ 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: $690 · $58/mo
• Projected year-2 tax: $1,653 · $138/mo
• Expected delta: +$963/yr (+$80/mo · 139.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 47% 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: $16,110
• − Mortgage interest: −$9,517
• − Property taxes: −$690
• − Insurance: −$850
• − Repairs & maintenance: −$1,289
• − Management: −$1,289
• − Depreciation: −$4,943
• Taxable loss: −$2,467
• Est. tax savings @ 24.0%: +$592
• After-tax cash flow: $1,087/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: Breckenridge Community Schools
• NCES district ID: 2606630
• Math proficiency: 29% ▼ -9.00%
• Reading proficiency: 42% ▬ 0.00%
• Median HH income: $46,971
• Composite: 30.43/100
• National rank: #6237
• State rank: #276 of 540 in MI

Livability — Wheeler

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 2,812

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 (90%)
• Race & ethnicity: White 90% Two or more races 7% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 3%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2% 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: ▲ 8.62%
• Current HPI: 244.8603
• 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

+212.3% since first listed

9 events — show timeline

• 2026-06-02 Listed $174,900 MiRealSource-MiMLS
• 2026-06-02 Listed $174,900 REALCOMP
• 2014-06-10 Sold (Public Records) $82,500 Public Records
• 2014-06-10 Sold (MLS) $82,500 MiRealSource-MiMLS
• 2013-10-25 Listed $86,900 MiRealSource-MiMLS
• 2013-08-30 Listing Removed — MiRealSource-MiMLS
• 2013-06-30 Listed $99,900 MiRealSource-MiMLS
• 2009-09-08 Sold (MLS) $44,000 MiRealSource-MiMLS
• 2009-05-07 Listed $56,000 MiRealSource-MiMLS