328 N Main St · Olivet, MI 49076

$89,900

3 bd · 2.0 ba · 1,707 sqft · SingleFamily · 73 Days on market

Built 1890 Fair condition 0.57 ac lot $53/sqft · 50% below area ↓ 9% since listing

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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 +3.9/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This two-story home offers over 1,700 sq. ft. with 3 bedrooms and 2 full baths, including a living room, dining area, and a large family room with laundry hookup. An additional bonus room provides flexibility for a home office or extra living space. Screened front porch, large outbuilding, circular driveway, and situated on . 57-acre lot. Conveniently located within walking distance to a local park and less than 5 minutes from Olivet College. Property is sold as is. Agents: please review agent-to-agent remarks prior to showing.

Key facts

• Screened front porch
• Large family room
• Bonus room

Tags

• LARGE FAMILY ROOM
• BONUS ROOM
• SCREENED FRONT PORCH
• LARGE OUTBUILDING
• CIRCULAR DRIVEWAY
• WALKING DISTANCE TO LOCAL PARK

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $90k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $492 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $85k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#476 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing B+; Watch: amenities F, commute F, employment F.
• Olivet Community Schools (rural): math 37% / reading 54% proficiency, ranked #135 of 540 in MI (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 14 active listings in the ZIP; 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 $622 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 $25k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $84,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.57% ✓
• Cap rate: 12.86%
• Cash-on-cash: 23.44%
• DSCR: 2.04
• GRM: 5.3

CMA / ARV

• ARV (median comp): $180,791
• List price: $89,900
• Delta: -50.27%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
202 Kalamo St	0.13mi	3/1.0	1,487 (-13%)	9mo	$169,900	$114	61
313 Cottage St	0.48mi	4/3.0 (+1)	1,840 (+8%)	16mo	$214,500	$117	42

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: 16.5%
• Equity multiple: 1.67×
• Total profit: $16,771
• Equity at exit: $13,404

10-year hold

• IRR: 25.1%
• Equity multiple: 3.19×
• Total profit: $55,017
• Equity at exit: $7,773

Cash invested: $25,172 (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 49076

• Home prices YoY: -17.5%
• Active inventory: 14
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,409 medium
• Mortgage (P&I): −$471
• Tax est. 1.5%: −$112 /mo · $1,348/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $492

Break-even live

Break-even rent $786

Max offer price $89,900

Occupancy floor 60%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $89,900 Active 73 DOM
2. 2026-06-18
   days on market $89,900 Active 72 DOM
3. 2026-06-17
   days on market $89,900 Active 71 DOM
4. 2026-06-16
   days on market $89,900 Active 70 DOM
5. 2026-06-15
   days on market $89,900 Active 69 DOM
6. 2026-06-14
   days on market $89,900 Active 67 DOM
7. 2026-06-13
   pricedays on market $89,900 Active 66 DOM
8. 2026-06-10
   days on market $104,900 Active 64 DOM
9. 2026-06-09
   days on market $104,900 Active 63 DOM
10. 2026-06-08
    days on market $104,900 Active 62 DOM
11. 2026-06-07
    days on market $104,900 Active 61 DOM
12. 2026-06-05
    days on market $104,900 Active 58 DOM
13. 2026-06-02
    days on market $104,900 Active 56 DOM
14. 2026-06-01
    days on market $104,900 Active 55 DOM
15. 2026-05-31
    days on market $104,900 Active 54 DOM
16. 2026-05-30
    days on market $104,900 Active 53 DOM
17. 2026-05-11
    price $104,900 533-char remark

    Show marketing remark (532 chars)

    This two-story home offers over 1,700 sq. ft. with 3 bedrooms and 2 full baths, including a living room, dining area, and a large family room with laundry hookup. An additional bonus room provides flexibility for a home office or extra living space. Screened front porch, large outbuilding, circular driveway, and situated on .57-acre lot. Conveniently located within walking distance to a local park and less than 5 minutes from Olivet College. Property is sold as is. Agents: please review agent-to-agent remarks prior to showing.

18. 2026-05-11
    price $104,900 532-char remark

    Show marketing remark (532 chars)

    This two-story home offers over 1,700 sq. ft. with 3 bedrooms and 2 full baths, including a living room, dining area, and a large family room with laundry hookup. An additional bonus room provides flexibility for a home office or extra living space. Screened front porch, large outbuilding, circular driveway, and situated on .57-acre lot. Conveniently located within walking distance to a local park and less than 5 minutes from Olivet College. Property is sold as is. Agents: please review agent-to-agent remarks prior to showing.

19. 2026-04-07
    listed $114,900 Active 533-char remark

    Show marketing remark (533 chars)

    This two-story home offers over 1,700 sq. ft. with 3 bedrooms and 2 full baths, including a living room, dining area, and a large family room with laundry hookup. An additional bonus room provides flexibility for a home office or extra living space. Screened front porch, large outbuilding, circular driveway, and situated on . 57-acre lot. Conveniently located within walking distance to a local park and less than 5 minutes from Olivet College. Property is sold as is. Agents: please review agent-to-agent remarks prior to showing.

20. 2026-04-04
    listed $114,900 Active 532-char remark

    Show marketing remark (532 chars)

    This two-story home offers over 1,700 sq. ft. with 3 bedrooms and 2 full baths, including a living room, dining area, and a large family room with laundry hookup. An additional bonus room provides flexibility for a home office or extra living space. Screened front porch, large outbuilding, circular driveway, and situated on .57-acre lot. Conveniently located within walking distance to a local park and less than 5 minutes from Olivet College. Property is sold as is. Agents: please review agent-to-agent remarks prior to showing.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥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: $16,906
• − Mortgage interest: −$5,036
• − Property taxes: −$1,348
• − Insurance: −$450
• − Repairs & maintenance: −$1,352
• − Management: −$1,352
• − Depreciation: −$2,615
• Taxable income: $4,752
• Est. tax owed @ 24.0%: −$1,141
• After-tax cash flow: $4,760/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.

Condition & rehab AI · 14 photos

Fair 45/100 Moderate rehab

This two-story home requires moderate renovations to its kitchen and bathrooms, as well as exterior updates to its siding and landscaping. These improvements will significantly increase its resale and rental value.

Repairs flagged

• Major Kitchen cabinets — Exposed subflooring and missing countertops indicate significant damage
• Major Bathroom fixtures — Old-fashioned fixtures and missing shower curtain rod indicate significant wear
• Moderate Exterior siding — Weathered appearance suggests potential for peeling or damage
• Minor Flooring — Carpeted floors in fair condition, may need cleaning or replacement
• Minor Interior walls — Paint appears chipped in some areas, may need touch-up or repainting
• Moderate Landscaping — Overgrown appearance suggests trimming and planting are needed
• Minor Fencing — Intact but may need cleaning or touch-up
• Minor Windows — Intact but may need cleaning or replacement
• Minor Foundation — Stable but may need inspection for cracks or settling
• Minor HVAC/mechanicals — No visible signs of major issues, but may need maintenance or inspection

Value-add opportunities

• Both Kitchen renovation — Updating the kitchen will significantly improve the home's appeal and functionality
• Both Bathroom renovation — Updating the bathroom will enhance the home's appeal and functionality
• Both Exterior painting and landscaping — Updating the exterior will improve curb appeal and increase the home's value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Exposed subflooring and missing countertops indicate significant damage	Major	$15,000–50,000
Bathroom fixtures · Old-fashioned fixtures and missing shower curtain rod indicate significant wear	Major	$15,000–50,000
Exterior siding · Weathered appearance suggests potential for peeling or damage	Moderate	$3,000–15,000
Flooring · Carpeted floors in fair condition, may need cleaning or replacement	Minor	$500–3,000
Interior walls · Paint appears chipped in some areas, may need touch-up or repainting	Minor	$500–3,000
Landscaping · Overgrown appearance suggests trimming and planting are needed	Moderate	$3,000–15,000
Fencing · Intact but may need cleaning or touch-up	Minor	$500–3,000
Windows · Intact but may need cleaning or replacement	Minor	$500–3,000
Foundation · Stable but may need inspection for cracks or settling	Minor	$500–3,000
HVAC/mechanicals · No visible signs of major issues, but may need maintenance or inspection	Minor	$500–3,000
Total estimated repair cost · 10 items		$39,000–148,000

Value-add ROI direction

• Both Kitchen renovation — Updating the kitchen will significantly improve the home's appeal and functionality ↑
• Both Bathroom renovation — Updating the bathroom will enhance the home's appeal and functionality ↑
• Both Exterior painting and landscaping — Updating the exterior will improve curb appeal and increase the home's value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Olivet Community Schools
• NCES district ID: 2626370
• Math proficiency: 37% ▼ -10.00%
• Reading proficiency: 54% ▼ -6.00%
• Median HH income: $52,343
• Composite: 39.21/100
• National rank: #4015
• State rank: #135 of 540 in MI

Livability — Olivet

• Score: 65/100
• State rank: #476
• US rank: #13502

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Olivet, MI
• Population (ZIP): 4,255

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 (88%)
• Race & ethnicity: White 88% Black 5% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 3% Slovak 3% Iranian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% French/Haitian/Cajun 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: ▼ -50.22%
• Current HPI: 237.4329
• 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

-8.7% since first listed

4 events — show timeline

• 2026-05-11 Price Changed $104,900 REALCOMP
• 2026-05-11 Price Changed $104,900 Greater Lansing AoR
• 2026-04-07 Listed $114,900 REALCOMP
• 2026-04-04 Listed $114,900 Greater Lansing AoR