202 S Main St · Yale, MI 48097

$139,900

4 bd · 2.0 ba · 1,400 sqft · SingleFamily · 133 Days on market

Built 1920 0.30 ac lot $100/sqft · 19% below area Est $173k · 19% under ↓ 7% 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 +26.4/30.0
• ARV discount +15.0/15.0
• DSCR +9.0/10.0
• 1% rule +6.1/10.0
• Schools +4.4/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This stately colonial situated on large corner lot Has much versatility. Located on edge of the main business district makes it a convenient spot to be close to amenities. Last use for this property was a 2 unit upper/lower, but could be easily converted back to single family by removing small partition by stairway. Home is in need of some updating, but could be a showplace with a little elbow grease! Large covered wrap around porch, great for watching small town living. Bathrooms on both levels.

Key facts

• Large corner lot
• Two unit upper lower
• 0.3 acre lot

Tags

• LARGE CORNER LOT
• MAIN BUSINESS DISTRICT
• TWO UNIT UPPER LOWER
• BATHROOMS ON BOTH LEVELS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $365 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#432 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B; Watch: amenities F, commute F, employment F.
• Yale Public Schools (rural): math 40% / reading 62% proficiency, ranked #92 of 540 in MI (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 47 active listings in the ZIP; 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 $967 of loan paydown is wiped out by about $4k 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 $39k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 133 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 133 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.11% ✓
• Cap rate: 9.43%
• Cash-on-cash: 11.19%
• DSCR: 1.50
• GRM: 7.5

CMA / ARV

• ARV (median comp): $172,764
• List price: $139,900
• Delta: -19.02%
• 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
1 Jones St	0.18mi	3/2.0 (-1)	1,400 (0%)	11mo	$206,000	$147	77
219 Clark St	0.42mi	3/2.0 (-1)	1,352 (-3%)	0mo	$180,000	$133	70
100 Hickory Ln	0.55mi	3/2.0 (-1)	1,400 (0%)	3mo	$235,000	$168	67
304 Jones St	0.07mi	3/1.0 (-1)	1,263 (-10%)	9mo	$170,500	$135	64
230 Mccoll St	0.43mi	3/2.0 (-1)	1,420 (+1%)	11mo	$194,900	$137	63
206 Arthur St	0.45mi	3/1.0 (-1)	1,353 (-3%)	4mo	$180,000	$133	62
211 Guy St	0.39mi	3/2.0 (-1)	1,496 (+7%)	13mo	$160,000	$107	54
102 Jean St	0.57mi	3/1.0 (-1)	1,316 (-6%)	0mo	$375,000	$285	54
107 Hickory Ln	0.60mi	3/2.5 (-1)	1,488 (+6%)	9mo	$280,000	$188	47
1 1st St	0.43mi	3/1.0 (-1)	1,562 (+12%)	6mo	$155,000	$99	47
302 N Kennefic St	0.52mi	3/1.0 (-1)	1,288 (-8%)	10mo	$50,000	$39	45
102 4th St	0.61mi	3/2.0 (-1)	1,519 (+8%)	13mo	$150,000	$99	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: 0.4%
• Equity multiple: 1.01×
• Total profit: $554
• Equity at exit: $20,860

10-year hold

• IRR: 10.0%
• Equity multiple: 1.77×
• Total profit: $30,282
• Equity at exit: $12,096

Cash invested: $39,172 (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 48097

• Home prices YoY: -17.5%
• Active inventory: 47
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,560 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$75 /mo · $900/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $365

Break-even live

Break-even rent $1,097

Max offer price $139,900

Occupancy floor 72%

Sensitivity live

Price	-10% $444	-5% $405	+0% $365	+5% $326	+10% $286
Rent	-10% $242	-5% $304	+0% $365	+5% $427	+10% $488
Rate	-1.0pp $436	-0.5pp $401	base $365	+0.5pp $329	+1.0pp $292

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $139,900 Active 133 DOM
2. 2026-06-17
   days on market $139,900 Active 132 DOM
3. 2026-06-16
   days on market $139,900 Active 131 DOM
4. 2026-06-15
   days on market $139,900 Active 130 DOM
5. 2026-06-13
   days on market $139,900 Active 128 DOM
6. 2026-06-09
   days on market $139,900 Active 124 DOM
7. 2026-06-08
   days on market $139,900 Active 123 DOM
8. 2026-06-07
   days on market $139,900 Active 122 DOM
9. 2026-06-04
   days on market $139,900 Active 119 DOM
10. 2026-06-03
    days on market $139,900 Active 118 DOM
11. 2026-06-02
    days on market $139,900 Active 117 DOM
12. 2026-06-01
    days on market $139,900 Active 116 DOM
13. 2026-05-31
    days on market $139,900 Active 115 DOM
14. 2026-05-12
    price $139,900 502-char remark

    Show marketing remark (502 chars)

    This stately colonial situated on large corner lot Has much versatility. Located on edge of the main business district makes it a convenient spot to be close to amenities. Last use for this property was a 2 unit upper/lower, but could be easily converted back to single family by removing small partition by stairway. Home is in need of some updating, but could be a showplace with a little elbow grease! Large covered wrap around porch, great for watching small town living. Bathrooms on both levels.

15. 2026-05-12
    price $139,900 502-char remark

    Show marketing remark (502 chars)

    This stately colonial situated on large corner lot Has much versatility. Located on edge of the main business district makes it a convenient spot to be close to amenities. Last use for this property was a 2 unit upper/lower, but could be easily converted back to single family by removing small partition by stairway. Home is in need of some updating, but could be a showplace with a little elbow grease! Large covered wrap around porch, great for watching small town living. Bathrooms on both levels.

16. 2026-02-05
    listed $149,900 Active 502-char remark

    Show marketing remark (502 chars)

    This stately colonial situated on large corner lot Has much versatility. Located on edge of the main business district makes it a convenient spot to be close to amenities. Last use for this property was a 2 unit upper/lower, but could be easily converted back to single family by removing small partition by stairway. Home is in need of some updating, but could be a showplace with a little elbow grease! Large covered wrap around porch, great for watching small town living. Bathrooms on both levels.

17. 2026-02-05
    listed $149,900 Active 502-char remark

    Show marketing remark (502 chars)

    This stately colonial situated on large corner lot Has much versatility. Located on edge of the main business district makes it a convenient spot to be close to amenities. Last use for this property was a 2 unit upper/lower, but could be easily converted back to single family by removing small partition by stairway. Home is in need of some updating, but could be a showplace with a little elbow grease! Large covered wrap around porch, great for watching small town living. Bathrooms on both levels.

ⓘ 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: $900 · $75/mo
• Projected year-2 tax: $1,527 · $127/mo
• Expected delta: +$627/yr (+$52/mo · 69.7%)

ⓘ 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 ≥95°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,716
• − Mortgage interest: −$7,837
• − Property taxes: −$900
• − Insurance: −$700
• − Repairs & maintenance: −$1,497
• − Management: −$1,497
• − Depreciation: −$4,070
• Taxable income: $2,216
• Est. tax owed @ 24.0%: −$532
• After-tax cash flow: $3,851/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: Yale Public Schools
• NCES district ID: 2636600
• Math proficiency: 40% ▼ -11.00%
• Reading proficiency: 62% ▼ -8.00%
• Median HH income: $53,116
• Composite: 43.83/100
• National rank: #2926
• State rank: #92 of 540 in MI

Livability — Yale

• Score: 66/100
• State rank: #432
• US rank: #12026

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Yale, MI
• County: Saint Clair County · 44,760 people
• City population: 5,418
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 5,418
• Household income: $63,659
• Rent vs Own: 17.9% rent · 82.1% own
• Severe rent burden: 94.0

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 (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Romanian 9% Slovak 4% Lithuanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 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: ▼ -52.26%
• Current HPI: 246.4218
• Rent YoY: —
• Metro: Detroit-Warren-Dearborn, MI
• 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

-6.7% since first listed

4 events — show timeline

• 2026-05-12 Price Changed $139,900 MiRealSource-MiMLS
• 2026-05-12 Price Changed $139,900 REALCOMP
• 2026-02-05 Listed $149,900 REALCOMP
• 2026-02-05 Listed $149,900 MiRealSource-MiMLS

Property tax history

-3.4%/yr

Latest (2025): $900 · -52.1% YoY. Source: county tax records.