118 Ridge St · Summit, MI 49202

$95,000

2 bd · 1.0 ba · 624 sqft · SingleFamily · 182 Days on market

Built 1920 Fair condition 5,663 sqft lot $152/sqft · 17% below area Est $115k · 17% under

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Why this score? — see what drove the C 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 +21.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.0/10.0
• 1% rule +5.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.0/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

CUTE AND COZY 2 BED, 1 BATH RANCH SITTING IN SUMMIT TOWNSHIP. JUST MINS FROM DINING AND SHOPPING.

Key facts

• 5,663 sq ft lot
• Built 1920
• Listed 181 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $95k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $149 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Vandercook Lake Public Schools (suburban): math 14% / reading 27% proficiency, ranked #461 of 540 in MI (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 80 active listings in the ZIP; 317 units permitted in Jackson County in 2024 (103 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Jackson County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 182 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $83,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 182 days. Have you received any prior offers? Is the seller open to a 12% 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 1920 — 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: 1.07% ✓
• Cap rate: 8.17%
• Cash-on-cash: 6.72%
• DSCR: 1.30
• GRM: 7.8

CMA / ARV

• ARV (median comp): $114,624
• List price: $95,000
• Delta: -17.12%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
503 W Vandercook Dr	0.13mi	2/1.0	699 (+12%)	5mo	$58,500	$84	70
313 W Vandercook Dr	0.13mi	2/1.0	704 (+13%)	15mo	$123,000	$175	60
806 Hague Ave	0.62mi	2/1.0	564 (-10%)	20mo	$94,000	$167	39
907 Hague Ave	0.67mi	2/1.0	704 (+13%)	23mo	$78,000	$111	28

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: -6.0%
• Equity multiple: 0.78×
• Total profit: $-5,893
• Equity at exit: $14,165

10-year hold

• IRR: 3.7%
• Equity multiple: 1.27×
• Total profit: $7,145
• Equity at exit: $8,214

Cash invested: $26,600 (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 49202

• Active inventory: 80
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,020 medium
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,425/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $149

Break-even live

Break-even rent $831

Max offer price $95,000

Occupancy floor 80%

Sensitivity live

Price	-10% $215	-5% $182	+0% $149	+5% $116	+10% $83
Rent	-10% $68	-5% $109	+0% $149	+5% $189	+10% $229
Rate	-1.0pp $197	-0.5pp $173	base $149	+0.5pp $124	+1.0pp $99

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2025-11-25
   listed $95,000 Active 97-char remark

   Show marketing remark (97 chars)

   CUTE AND COZY 2 BED, 1 BATH RANCH SITTING IN SUMMIT TOWNSHIP. JUST MINS FROM DINING AND SHOPPING.

ⓘ 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 3/10 Moderate
• 🌡 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,235
• − Mortgage interest: −$5,321
• − Property taxes: −$1,425
• − Insurance: −$475
• − Repairs & maintenance: −$979
• − Management: −$979
• − Depreciation: −$2,764
• Taxable income: $292
• Est. tax owed @ 24.0%: −$70
• After-tax cash flow: $1,717/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 · 0 photos

Fair 40/100 Moderate rehab

This home requires moderate renovations to improve its condition and value. Key areas needing attention include the kitchen, bathrooms, and exterior. Painting and updating fixtures can significantly enhance its appeal.

Repairs flagged

• Major Kitchen countertops — Significant wear and tear observed, likely affecting functionality and aesthetics.
• Major Bathroom fixtures — Outdated and worn, requiring replacement for a fresh look.
• Moderate Exterior siding — Visible discoloration and minor damage, indicating a need for repair or replacement.
• Major Flooring — Worn and in need of replacement to improve the home's appearance and functionality.
• Minor Interior walls — Some discoloration and minor damage, which can be addressed with touch-up paint.
• Minor HVAC system — May need cleaning or minor repairs to ensure it operates efficiently.

Value-add opportunities

• Both Paint interior walls — Fresh paint can improve the home's appearance and make it more appealing to potential buyers or renters.
• Both Replace kitchen countertops — New countertops will enhance the kitchen's functionality and aesthetic, making it more attractive to buyers and renters.
• Both Replace bathroom fixtures — Up-to-date fixtures will make the bathroom more functional and appealing, boosting both resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen countertops · Significant wear and tear observed, likely affecting functionality and aesthetics.	Major	$15,000–50,000
Bathroom fixtures · Outdated and worn, requiring replacement for a fresh look.	Major	$15,000–50,000
Exterior siding · Visible discoloration and minor damage, indicating a need for repair or replacement.	Moderate	$3,000–15,000
Flooring · Worn and in need of replacement to improve the home's appearance and functionality.	Major	$15,000–50,000
Interior walls · Some discoloration and minor damage, which can be addressed with touch-up paint.	Minor	$500–3,000
HVAC system · May need cleaning or minor repairs to ensure it operates efficiently.	Minor	$500–3,000
Total estimated repair cost · 6 items		$49,000–171,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint can improve the home's appearance and make it more appealing to potential buyers or renters. ↑
• Both Replace kitchen countertops — New countertops will enhance the kitchen's functionality and aesthetic, making it more attractive to buyers and renters. ↑
• Both Replace bathroom fixtures — Up-to-date fixtures will make the bathroom more functional and appealing, boosting both resale and rental 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: Vandercook Lake Public Schools
• NCES district ID: 2634650
• Math proficiency: 14% ▼ -6.00%
• Reading proficiency: 27% ▲ 1.00%
• Median HH income: $44,708
• Composite: 17.77/100
• National rank: #9015
• State rank: #461 of 540 in MI

Livability — Summit

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

Census & demographics

• Census place: Vandercook Lake, MI
• Population (ZIP): 18,763

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 156,365 people
• By 2030: 153,123 · -2.1%
• By 2040: 144,981 · -7.3%
• By 2050: 135,671 · -13.2%
• By 2075: 113,833 · -27.2%
• By 2100: 86,592 · -44.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Two or more races 11% Black 10% Hispanic / Latino 5% Asian 1%
• Common ancestry: Romanian 9% Iranian 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 3% Other Asian/Pacific 1% Arabic 1%

Political lean MEDSL · Jackson

• 2024 margin: Strong R (+21.3) · D 38.6% · R 59.9% · Other 1.5%
• 2008→2024 swing: -23.7pp toward R · 2008: 2.4pp · 2024: -21.3pp
• All cycles: 2024: R+21.3 2020: R+19.0 2016: R+20.1 2012: R+5.8 2008: D+2.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -175.30%
• Current HPI: 170.3682
• 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

1 event — show timeline

• 2025-11-25 Listed $95,000 REALCOMP