753 Applegate Dr · Marysville, MI 48040

$219,900

3 bd · 2.0 ba · 1,710 sqft · Condo · 5 Days on market

Built 1993 $50/mo HOA · 1% of rent

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this charming 3-bedroom, 2 full bathroom home in Marysville offering 960 sq. ft. of open-concept living with plenty of space and potential! Featuring beautifully updated bathrooms and room for your own personal touches, this home is perfect for families or first-time buyers alike. The fully finished basement adds incredible additional living space with a large recreation/living room, full bathroom, laundry area, and a potential 4th bedroom or home office. Step outside to enjoy the spacious deck, fenced backyard, and storage shed - ideal for relaxing or entertaining. Conveniently located within walking distance to schools, shopping, parks, and the riverfront, this home truly has it all. Call today to schedule your private showing!

Key facts

• Spacious deck
• Storage shed
• Updated bathrooms

Tags

• UPDATED BATHROOMS
• FULLY FINISHED BASEMENT
• SPACIOUS DECK
• FENCED BACKYARD
• STORAGE SHED
• WALKING DISTANCE TO SCHOOLS

Property features AI

Finance

• Other: Lot dimensions approximately 60 x 130 (0.17 acre); Subdivision: ORCHARD VIEW CONDO
• HOA & community: Homeowners association with quarterly fee ($150)

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level; Ground-level entry with steps; Vinyl siding construction
• Construction: Asphalt roof
• Exterior features: Deck and porch; Paved road access

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Finished full basement; Total of 6 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $220k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $220k).
• Cap rate 12.9% vs local median 4.8% in Marysville — 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 78/100 on livability (#114 in MI, #2,700 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities C-, employment D+, health & safety D.
• Marysville Public Schools (suburban): math 42% / reading 53% proficiency, ranked #115 of 540 in MI (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 84 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 232 units permitted in St. Clair County in 2024 (0 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.
• St. Clair County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $62k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.

Recommended offer $219,900

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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.
6. 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.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.60% ✓
• Cap rate: 12.87%
• Cash-on-cash: 23.48%
• DSCR: 2.04
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 16.6%
• Equity multiple: 1.67×
• Total profit: $41,197
• Equity at exit: $32,788

10-year hold

• IRR: 25.2%
• Equity multiple: 3.19×
• Total profit: $135,043
• Equity at exit: $19,013

Cash invested: $61,572 (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 48040

• Home prices YoY: -34.4%
• Active inventory: 84
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $3,516 medium
• Mortgage (P&I): −$1,153
• Tax from tax record: −$278 /mo · $3,333/yr
• Insurance: −$92
• HOA: −$50
• Vacancy / Maint / Mgmt: −$738
• Net cashflow: $1,205

Break-even live

Break-even rent $1,991

Max offer price $219,900

Occupancy floor 61%

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
45 Gratiot Blvd Unit 1550273P Marysville, MI	2.0	1.5	1323	$5,089	$3.85	3d	1	1.32mi
3991 Brookstone Pl Port Huron, MI	2.0–3.0	1.0–2.0	1078	$1,570	$1.46	2d	7	1.33mi

HOA detail condo

• Monthly dues: $50 · $600/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-06-02
   status $219,900 Pending 5 DOM
2. 2026-06-01
   days on market $219,900 Active 5 DOM
3. 2026-05-31
   days on market $219,900 Active 4 DOM
4. 2026-05-27
   listed $219,900 Active

   Show marketing remark (757 chars)

   Welcome home to this charming 3-bedroom, 2 full bathroom home in Marysville offering 960 sq. ft. of open-concept living with plenty of space and potential! Featuring beautifully updated bathrooms and room for your own personal touches, this home is perfect for families or first-time buyers alike. The fully finished basement adds incredible additional living space with a large recreation/living room, full bathroom, laundry area, and a potential 4th bedroom or home office. Step outside to enjoy the spacious deck, fenced backyard, and storage shed - ideal for relaxing or entertaining. Conveniently located within walking distance to schools, shopping, parks, and the riverfront, this home truly has it all. Call today to schedule your private showing!

5. 2026-05-27
   listed $219,900 Active 757-char remark

   Show marketing remark (757 chars)

   Welcome home to this charming 3-bedroom, 2 full bathroom home in Marysville offering 960 sq. ft. of open-concept living with plenty of space and potential! Featuring beautifully updated bathrooms and room for your own personal touches, this home is perfect for families or first-time buyers alike. The fully finished basement adds incredible additional living space with a large recreation/living room, full bathroom, laundry area, and a potential 4th bedroom or home office. Step outside to enjoy the spacious deck, fenced backyard, and storage shed - ideal for relaxing or entertaining. Conveniently located within walking distance to schools, shopping, parks, and the riverfront, this home truly has it all. Call today to schedule your private showing!

ⓘ 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: $3,333 · $278/mo
• Projected year-2 tax: $3,360 · $280/mo
• Expected delta: +$27/yr (+$2/mo · 0.8%)

ⓘ 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 3/10 Moderate 7 d/yr ≥99°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,190
• − Mortgage interest: −$12,318
• − Property taxes: −$3,333
• − Insurance: −$1,100
• − Repairs & maintenance: −$3,375
• − Management: −$3,375
• − HOA: −$600
• − Depreciation: −$6,397
• Taxable income: $11,692
• Est. tax owed @ 24.0%: −$2,806
• After-tax cash flow: $11,653/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: Marysville Public Schools
• NCES district ID: 2623040
• Math proficiency: 42% ▼ -14.00%
• Reading proficiency: 53% ▼ -12.00%
• Median HH income: $58,817
• Composite: 41.51/100
• National rank: #3454
• State rank: #115 of 540 in MI

Livability — Marysville

• Score: 78/100
• State rank: #114
• US rank: #2700

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marysville, MI
• City population: 9,942
• Population (ZIP): 9,942

Population outlook (St. Clair County) Hauer SSP2

• Today (2025): 154,587 people
• By 2030: 150,031 · -2.9%
• By 2040: 138,177 · -10.6%
• By 2050: 124,390 · -19.5%
• By 2075: 95,825 · -38.0%
• By 2100: 68,672 · -55.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 1% Asian 1% Black 1%
• Common ancestry: Romanian 11% Iranian 6% Lithuanian 5%
• Foreign-born: 2% · Canada, Philippines
• Languages at home: 98% English-only · Other Asian/Pacific 1%

Political lean MEDSL · St. Clair

• 2024 margin: Solid R (+34.6) · D 32.0% · R 66.6% · Other 1.4%
• 2008→2024 swing: -37.3pp toward R · 2008: 2.6pp · 2024: -34.6pp
• All cycles: 2024: R+34.6 2020: R+30.2 2016: R+31.4 2012: R+7.1 2008: D+2.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -98.64%
• Current HPI: 188.3932
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-27 Listed $219,900 REALCOMP
• 2026-05-27 Listed $219,900 MiRealSource-MiMLS

Property tax history

+2.6%/yr

Latest (2025): $3,333 · +3.7% YoY. Source: county tax records.