1273 Fall River Rd · Ypsilanti, MI 48198

$189,900

3 bd · 1.0 ba · 900 sqft · SingleFamily · 170 Days on market

Built 1955 $211/sqft · at area comps Est $185k · at est.

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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 +15.8/30.0
• ARV discount +6.4/15.0
• DSCR +4.9/10.0
• Livability +4.0/5.0
• Rent growth +3.6/5.0
• 1% rule +3.3/10.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this completely updated (2024) ranch—truly turnkey and move-in ready! This three-bedroom home features a brand-new two-car garage along with updated electrical and plumbing systems. Enjoy peace of mind with new furnace, A/C, water heater, stove, dishwasher, microwave, and garage door opener, plus stylish new flooring and fresh paint (2024) throughout. The home also includes a washer and dryer for added convenience. Don’t miss this amazing opportunity to own a fully renovated home—schedule your showing today!

Key facts

• New furnace
• New siding
• New water heater

Tags

• NEW SIDING
• NEW TRIM
• NEW WINDOWS
• NEW FURNACE
• CENTRAL A/C
• NEW WATER HEATER

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $87 ($1k/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 $157k (17.1% below list).
• Recommended offer: $157k (17.1% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 3.8% in Ypsilanti — 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 81/100 on livability (#71 in MI, #1,539 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment D-.
• Ypsilanti Community Schools (suburban): math 11% / reading 20% proficiency, ranked #501 of 540 in MI (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.4%/yr); 167 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; 996 units permitted in Washtenaw County in 2024 (492 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Washtenaw County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 170 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask has dropped $35k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $157,400 (17.1% below list)

Questions for the listing agent

1. It's been on market 170 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — 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. Crime grade is F 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.83% ✗
• Cap rate: 6.85%
• Cash-on-cash: 1.97%
• DSCR: 1.09
• GRM: 10.1

CMA / ARV

• ARV (median comp): $185,376
• List price: $189,900
• Delta: 2.44%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1215 Wendell Ave	0.07mi	3/1.0	864 (-4%)	9mo	$121,000	$140	83
1166 Lexington Pkwy	0.16mi	3/1.0	864 (-4%)	4mo	$200,000	$231	82
1404 Fall River Rd	0.14mi	3/1.0	864 (-4%)	7mo	$214,900	$249	81
1104 Lexington Pkwy	0.26mi	3/1.0	864 (-4%)	0mo	$243,000	$281	81
1357 Hunter	0.15mi	3/1.0	864 (-4%)	8mo	$200,000	$231	80
1131 Laurel Ave	0.35mi	3/1.0	925 (+3%)	2mo	$240,000	$259	78
1388 Delaware Ave	0.35mi	3/1.0	864 (-4%)	1mo	$217,219	$251	76
1051 Redleaf Ln	0.30mi	3/1.0	864 (-4%)	6mo	$132,000	$153	74
1370 Stamford Rd	0.51mi	3/1.0	936 (+4%)	3mo	$140,000	$150	67
998 E Forest Ave	0.65mi	3/1.0	872 (-3%)	4mo	$201,000	$231	61
771 Bagley Ave	0.57mi	2/1.0 (-1)	1,015 (+13%)	0mo	$253,000	$249	47
167 N Ford Blvd	0.71mi	2/1.0 (-1)	780 (-13%)	3mo	$155,000	$199	38

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 · 4.38% rent growth · sell at horizon

5-year hold

• IRR: -11.8%
• Equity multiple: 0.57×
• Total profit: $-23,057
• Equity at exit: $28,315

10-year hold

• IRR: -1.0%
• Equity multiple: 0.93×
• Total profit: $-3,847
• Equity at exit: $16,419

Cash invested: $53,172 (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 48198

• Rents YoY: 4.4%
• Active inventory: 167
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,574 high
• Mortgage (P&I): −$996
• Tax from tax record: −$81 /mo · $972/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $87

Break-even live

Break-even rent $1,463

Max offer price $189,900

Occupancy floor 89%

Sensitivity live

Price	-10% $195	-5% $141	+0% $87	+5% $34	+10% $-20
Rent	-10% $-37	-5% $25	+0% $87	+5% $150	+10% $212
Rate	-1.0pp $183	-0.5pp $136	base $87	+0.5pp $38	+1.0pp $-12

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
907 E Forest Ave Ypsilanti, MI	2.0	1.0	882	$1,575	$1.79	19d	1	0.68mi
1654 Wiard Blvd Ypsilanti, MI	3.0	1.0	864	$1,800	$2.08	19d	1	0.96mi
232 Miles St Ypsilanti, MI	2.0	1.0	696	$1,470	$2.11	0d	1	1.12mi
219 N Prospect Rd Unit 2 Ypsilanti, MI	2.0	1.0	800	$1,200	$1.50	45d	1	1.24mi
208 N Prospect Rd Ypsilanti, MI	2.0	1.0	750	$1,200	$1.60	45d	1	1.24mi
1176 Hawthorne Ave Ypsilanti, MI	2.0	1.0	720	$1,400	$1.94	25d	1	1.34mi
1993 Arbor Woods Blvd Superior Charter Twp, MI	3.0	2.0	1056	$1,249	$1.18	16d	1	1.43mi
62 Harvey Pl Superior Township, MI	2.0	1.0	692	$945	$1.37	45d	1	1.48mi
72 Harvey Pl Superior Township, MI	2.0	1.0	692	$1,100	$1.59	45d	1	1.50mi

Listing history 27 events

1. 2026-06-21
   days on market $189,900 Active 170 DOM
2. 2026-06-18
   days on market $189,900 Active 167 DOM
3. 2026-06-17
   days on market $189,900 Active 166 DOM
4. 2026-06-16
   days on market $189,900 Active 165 DOM
5. 2026-06-15
   days on market $189,900 Active 164 DOM
6. 2026-06-13
   days on market $189,900 Active 162 DOM
7. 2026-06-09
   days on market $189,900 Active 158 DOM
8. 2026-06-08
   days on market $189,900 Active 157 DOM
9. 2026-06-07
   days on market $189,900 Active 156 DOM
10. 2026-06-04
    days on market $189,900 Active 153 DOM
11. 2026-06-03
    days on market $189,900 Active 152 DOM
12. 2026-06-02
    days on market $189,900 Active 151 DOM
13. 2026-06-01
    days on market $189,900 Active 150 DOM
14. 2026-05-31
    days on market $189,900 Active 149 DOM
15. 2026-04-01
    soldstatus $225,000
16. 2026-03-17
    soldstatus $225,000 Closed 542-char remark

    Show marketing remark (528 chars)

    Welcome to this completely updated (2024) ranch - truly turnkey and move-in ready! This three-bedroom home features a brand-new two-car garage along with updated electrical and plumbing systems. Enjoy peace of mind with new furnace, A/C, water heater, stove, dishwasher, microwave, and garage door opener, plus stylish new flooring and fresh paint (2024) throughout. The home also includes a washer and dryer for added convenience. Don't miss this amazing opportunity to own a fully renovated home - schedule your showing today!

17. 2026-03-17
    soldstatus $225,000 Closed 528-char remark

    Show marketing remark (528 chars)

    Welcome to this completely updated (2024) ranch - truly turnkey and move-in ready! This three-bedroom home features a brand-new two-car garage along with updated electrical and plumbing systems. Enjoy peace of mind with new furnace, A/C, water heater, stove, dishwasher, microwave, and garage door opener, plus stylish new flooring and fresh paint (2024) throughout. The home also includes a washer and dryer for added convenience. Don't miss this amazing opportunity to own a fully renovated home - schedule your showing today!

18. 2026-02-24
    status Pending 528-char remark

    Show marketing remark (542 chars)

    Welcome to this completely updated (2024) ranch—truly turnkey and move-in ready! This three-bedroom home features a brand-new two-car garage along with updated electrical and plumbing systems. Enjoy peace of mind with new furnace, A/C, water heater, stove, dishwasher, microwave, and garage door opener, plus stylish new flooring and fresh paint (2024) throughout. The home also includes a washer and dryer for added convenience. Don’t miss this amazing opportunity to own a fully renovated home—schedule your showing today!

19. 2026-02-24
    status Pending 542-char remark

    Show marketing remark (542 chars)

    Welcome to this completely updated (2024) ranch—truly turnkey and move-in ready! This three-bedroom home features a brand-new two-car garage along with updated electrical and plumbing systems. Enjoy peace of mind with new furnace, A/C, water heater, stove, dishwasher, microwave, and garage door opener, plus stylish new flooring and fresh paint (2024) throughout. The home also includes a washer and dryer for added convenience. Don’t miss this amazing opportunity to own a fully renovated home—schedule your showing today!

20. 2026-02-16
    status Active 528-char remark

    Show marketing remark (542 chars)

    Welcome to this completely updated (2024) ranch—truly turnkey and move-in ready! This three-bedroom home features a brand-new two-car garage along with updated electrical and plumbing systems. Enjoy peace of mind with new furnace, A/C, water heater, stove, dishwasher, microwave, and garage door opener, plus stylish new flooring and fresh paint (2024) throughout. The home also includes a washer and dryer for added convenience. Don’t miss this amazing opportunity to own a fully renovated home—schedule your showing today!

21. 2026-02-16
    status Active 542-char remark

    Show marketing remark (542 chars)

    Welcome to this completely updated (2024) ranch—truly turnkey and move-in ready! This three-bedroom home features a brand-new two-car garage along with updated electrical and plumbing systems. Enjoy peace of mind with new furnace, A/C, water heater, stove, dishwasher, microwave, and garage door opener, plus stylish new flooring and fresh paint (2024) throughout. The home also includes a washer and dryer for added convenience. Don’t miss this amazing opportunity to own a fully renovated home—schedule your showing today!

22. 2026-02-11
    status Pending 528-char remark

    Show marketing remark (542 chars)

    Welcome to this completely updated (2024) ranch—truly turnkey and move-in ready! This three-bedroom home features a brand-new two-car garage along with updated electrical and plumbing systems. Enjoy peace of mind with new furnace, A/C, water heater, stove, dishwasher, microwave, and garage door opener, plus stylish new flooring and fresh paint (2024) throughout. The home also includes a washer and dryer for added convenience. Don’t miss this amazing opportunity to own a fully renovated home—schedule your showing today!

23. 2026-02-11
    status Pending 542-char remark

    Show marketing remark (542 chars)

    Welcome to this completely updated (2024) ranch—truly turnkey and move-in ready! This three-bedroom home features a brand-new two-car garage along with updated electrical and plumbing systems. Enjoy peace of mind with new furnace, A/C, water heater, stove, dishwasher, microwave, and garage door opener, plus stylish new flooring and fresh paint (2024) throughout. The home also includes a washer and dryer for added convenience. Don’t miss this amazing opportunity to own a fully renovated home—schedule your showing today!

24. 2026-02-06
    listed $225,000 Active 528-char remark

    Show marketing remark (542 chars)

    Welcome to this completely updated (2024) ranch—truly turnkey and move-in ready! This three-bedroom home features a brand-new two-car garage along with updated electrical and plumbing systems. Enjoy peace of mind with new furnace, A/C, water heater, stove, dishwasher, microwave, and garage door opener, plus stylish new flooring and fresh paint (2024) throughout. The home also includes a washer and dryer for added convenience. Don’t miss this amazing opportunity to own a fully renovated home—schedule your showing today!

25. 2026-02-06
    listed $225,000 Active 542-char remark

    Show marketing remark (542 chars)

    Welcome to this completely updated (2024) ranch—truly turnkey and move-in ready! This three-bedroom home features a brand-new two-car garage along with updated electrical and plumbing systems. Enjoy peace of mind with new furnace, A/C, water heater, stove, dishwasher, microwave, and garage door opener, plus stylish new flooring and fresh paint (2024) throughout. The home also includes a washer and dryer for added convenience. Don’t miss this amazing opportunity to own a fully renovated home—schedule your showing today!

26. 2026-02-02
    historical $225,000 528-char remark

    Show marketing remark (528 chars)

    Welcome to this completely updated (2024) ranch - truly turnkey and move-in ready! This three-bedroom home features a brand-new two-car garage along with updated electrical and plumbing systems. Enjoy peace of mind with new furnace, A/C, water heater, stove, dishwasher, microwave, and garage door opener, plus stylish new flooring and fresh paint (2024) throughout. The home also includes a washer and dryer for added convenience. Don't miss this amazing opportunity to own a fully renovated home - schedule your showing today!

27. 2025-12-29
    listed $189,900 Active

ⓘ 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: $972 · $81/mo
• Projected year-2 tax: $1,948 · $162/mo
• Expected delta: +$976/yr (+$81/mo · 100.4%)

ⓘ 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 ≥98°F today · 15 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: $18,888
• − Mortgage interest: −$10,637
• − Property taxes: −$972
• − Insurance: −$950
• − Repairs & maintenance: −$1,511
• − Management: −$1,511
• − Depreciation: −$5,524
• Taxable loss: −$2,217
• Est. tax savings @ 24.0%: +$532
• After-tax cash flow: $1,582/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: Ypsilanti Community Schools
• NCES district ID: 2636630
• Math proficiency: 11% ▼ -8.00%
• Reading proficiency: 20% ▼ -3.00%
• Median HH income: $37,759
• Composite: 12.98/100
• National rank: #9572
• State rank: #501 of 540 in MI

Livability — Ypsilanti

• Score: 81/100
• State rank: #71
• US rank: #1539

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Washtenaw County · 306,860 people
• City population: 105,769
• Metro: Ann Arbor, MI
• Population (ZIP): 39,244
• Household income: $63,326
• Rent vs Own: 42.5% rent · 57.5% own
• Severe rent burden: 1998.0

Population outlook (Washtenaw County) Hauer SSP2

• Today (2025): 402,878 people
• By 2030: 424,104 · +5.3%
• By 2040: 464,633 · +15.3%
• By 2050: 504,728 · +25.3%
• By 2075: 614,463 · +52.5%
• By 2100: 676,181 · +67.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 48% Black 32% Two or more races 11% Hispanic / Latino 8% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 3% Italian 2% Slovak 2%
• Foreign-born: 9% · Canada, China, South Korea
• Languages at home: 88% English-only · Spanish 7% Other Indo-European 1% Arabic 1%

Political lean MEDSL · Washtenaw

• 2024 margin: Solid D (+44.4) · D 71.0% · R 26.6% · Other 2.4%
• 2008→2024 swing: +3.5pp toward D · 2008: 41.0pp · 2024: 44.4pp
• All cycles: 2024: D+44.4 2020: D+46.6 2016: D+41.5 2012: D+36.0 2008: D+41.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -224.96%
• Current HPI: 204.1228
• Rent YoY: ▲ 4.38%
• Metro: Ann Arbor, 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

+18.5% since first listed

13 events — show timeline

• 2026-04-01 Sold (Public Records) $225,000 Public Records
• 2026-03-17 Sold (MLS) $225,000 MiRealSource-MiMLS
• 2026-03-17 Sold (MLS) $225,000 REALCOMP
• 2026-02-24 Pending — MiRealSource-MiMLS
• 2026-02-24 Pending — REALCOMP
• 2026-02-16 Relisted — MiRealSource-MiMLS
• 2026-02-16 Relisted — REALCOMP
• 2026-02-11 Pending — MiRealSource-MiMLS
• 2026-02-11 Pending — REALCOMP
• 2026-02-06 Listed $225,000 MiRealSource-MiMLS
• 2026-02-06 Listed $225,000 REALCOMP
• 2026-02-02 Coming Soon $225,000 MiRealSource-MiMLS
• 2025-12-29 Listed $189,900 Fizber.com

Property tax history

+1.6%/yr

Latest (2016): $972 · +6.6% YoY. Source: county tax records.