2240 Mark St · Peck, MI 48422

$37,000

3 bd · 2.0 ba · 1,400 sqft · SingleFamily · 357 Days on market

Built 1991 8,000 sqft lot Est $56k · 34% under $460/mo HOA · 35% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

FINANCING AVAILABLE. This is a 3 bed 2 full bath double wide manufactured home. Home is in need of handy work throughout such as flooring, paint, and drywall in one of the bedrooms. Awesome 2 car garage. Close to downtown Lexington and Lake Huron.

Key facts

• 8,000 sq ft lot
• 2 garage spots
• Built 1991

Property features AI

Finance

• Other: On-waterfront location (waterfront features listed); Pets allowed — contact for details
• HOA & community: Homeowners association with a monthly fee of $460

Exterior

• Parking: Attached garage with 2 spaces
• Utilities: Shared well water; Shared septic system
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Pillar/post/pier foundation
• Exterior features: Waterfront property and frontage; Paved road access; Lot dimensions approximately 80 x 100

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating (natural gas)
• Interior features: Crawl space basement; 3 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $37k.

Deal economics

• At list price, monthly cash flow is $331 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $37k).
• Recommended offer: $33k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#502 in MI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D-, amenities F, commute F.
• Croswell-Lexington Community Schools (rural): math 30% / reading 47% proficiency, ranked #239 of 540 in MI (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 51 active listings in the ZIP; 63 units permitted in Sanilac County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $256 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Sanilac County population projected at -31% 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 $10k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 357 days — a 12% lower offer ($33k) is reasonable based on typical stale-listing flexibility.
• 5 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.

Risks & watch-outs

• Watch-outs: HOA is 35% of rent.

Recommended offer $32,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 357 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 3.58% ✓
• Cap rate: 17.01%
• Cash-on-cash: 38.28%
• DSCR: 2.70
• GRM: 2.3

CMA / ARV

• ARV (on-the-fly): $56,000
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2293 Dennis St	0.11mi	3/2.0	1,400 (0%)	10mo	$67,000	$48	87
2276 Mark St	0.07mi	3/2.0	1,450 (+4%)	11mo	$48,000	$33	81
2201 Bart St	0.12mi	3/2.0	1,400 (0%)	20mo	$58,500	$42	78
2326 Mark St	0.19mi	3/2.0	1,500 (+7%)	4mo	$65,000	$43	76
2287 Mark St	0.10mi	3/2.0	1,450 (+4%)	16mo	$44,000	$30	76
2343 Tia St	0.22mi	3/2.0	1,500 (+7%)	6mo	$64,900	$43	73
2285 Brent St	0.11mi	3/2.0	1,444 (+3%)	22mo	$59,500	$41	71
2265 Dennis St	0.03mi	3/2.0	1,600 (+14%)	14mo	$55,000	$34	63
2237 Ranae St	0.19mi	3/2.0	1,200 (-14%)	7mo	$20,000	$17	62
2181 Mark St	0.10mi	3/2.0	1,600 (+14%)	15mo	$50,000	$31	59
2299 Bart St	0.10mi	2/2.0 (-1)	1,200 (-14%)	9mo	$48,000	$40	59

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: 34.8%
• Equity multiple: 2.48×
• Total profit: $15,358
• Equity at exit: $5,517

10-year hold

• IRR: 41.9%
• Equity multiple: 5.03×
• Total profit: $41,710
• Equity at exit: $3,199

Cash invested: $10,360 (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 48422

• Home prices YoY: -10.2%
• Active inventory: 51
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,324 medium
• Mortgage (P&I): −$194
• Tax est. 1.5%: −$46 /mo · $555/yr
• Insurance: −$15
• HOA: −$460
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $331

Break-even live

Break-even rent $906

Max offer price $37,000

Occupancy floor 70%

Sensitivity live

Price	-10% $356	-5% $343	+0% $331	+5% $318	+10% $305
Rent	-10% $226	-5% $278	+0% $331	+5% $383	+10% $435
Rate	-1.0pp $349	-0.5pp $340	base $331	+0.5pp $321	+1.0pp $311

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: $9,250
• Closing costs: $1,110
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $460 · $5,520/yr

Listing history 23 events

1. 2026-06-21
   days on market $37,000 Active 357 DOM
2. 2026-06-18
   days on market $37,000 Active 354 DOM
3. 2026-06-17
   days on market $37,000 Active 353 DOM
4. 2026-06-16
   days on market $37,000 Active 352 DOM
5. 2026-06-15
   days on market $37,000 Active 351 DOM
6. 2026-06-13
   days on market $37,000 Active 349 DOM
7. 2026-06-13
   days on market $37,000 Active 348 DOM
8. 2026-06-09
   days on market $37,000 Active 345 DOM
9. 2026-06-08
   days on market $37,000 Active 344 DOM
10. 2026-06-07
    days on market $37,000 Active 343 DOM
11. 2026-06-04
    days on market $37,000 Active 340 DOM
12. 2026-06-03
    days on market $37,000 Active 339 DOM
13. 2026-06-02
    days on market $37,000 Active 338 DOM
14. 2026-06-01
    days on market $37,000 Active 337 DOM
15. 2026-05-31
    days on market $37,000 Active 336 DOM
16. 2026-03-31
    status Active
17. 2026-03-27
    historical
18. 2025-12-31
    status Active

    Show marketing remark (247 chars)

    FINANCING AVAILABLE. This is a 3 bed 2 full bath double wide manufactured home. Home is in need of handy work throughout such as flooring, paint, and drywall in one of the bedrooms. Awesome 2 car garage. Close to downtown Lexington and Lake Huron.

19. 2025-12-31
    status Active 247-char remark

    Show marketing remark (247 chars)

    FINANCING AVAILABLE. This is a 3 bed 2 full bath double wide manufactured home. Home is in need of handy work throughout such as flooring, paint, and drywall in one of the bedrooms. Awesome 2 car garage. Close to downtown Lexington and Lake Huron.

20. 2025-12-31
    historical

    Show marketing remark (247 chars)

    FINANCING AVAILABLE. This is a 3 bed 2 full bath double wide manufactured home. Home is in need of handy work throughout such as flooring, paint, and drywall in one of the bedrooms. Awesome 2 car garage. Close to downtown Lexington and Lake Huron.

21. 2025-12-31
    historical 247-char remark

    Show marketing remark (247 chars)

    FINANCING AVAILABLE. This is a 3 bed 2 full bath double wide manufactured home. Home is in need of handy work throughout such as flooring, paint, and drywall in one of the bedrooms. Awesome 2 car garage. Close to downtown Lexington and Lake Huron.

22. 2025-06-25
    listed $37,000 Active

    Show marketing remark (247 chars)

    FINANCING AVAILABLE. This is a 3 bed 2 full bath double wide manufactured home. Home is in need of handy work throughout such as flooring, paint, and drywall in one of the bedrooms. Awesome 2 car garage. Close to downtown Lexington and Lake Huron.

23. 2025-06-25
    listed $37,000 Active 247-char remark

    Show marketing remark (247 chars)

    FINANCING AVAILABLE. This is a 3 bed 2 full bath double wide manufactured home. Home is in need of handy work throughout such as flooring, paint, and drywall in one of the bedrooms. Awesome 2 car garage. Close to downtown Lexington and Lake Huron.

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

Taxation est. · year 1

• Rental income: $15,892
• − Mortgage interest: −$2,073
• − Property taxes: −$555
• − Insurance: −$185
• − Repairs & maintenance: −$1,271
• − Management: −$1,271
• − HOA: −$5,520
• − Depreciation: −$1,076
• Taxable income: $3,940
• Est. tax owed @ 24.0%: −$946
• After-tax cash flow: $3,021/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: Croswell-Lexington Community Schools
• NCES district ID: 2611140
• Math proficiency: 30% ▼ -7.00%
• Reading proficiency: 47% ▼ -6.00%
• Median HH income: $42,784
• Composite: 32.49/100
• National rank: #5707
• State rank: #239 of 540 in MI

Livability — Peck

• Score: 64/100
• State rank: #502
• US rank: #14853

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 6,172

Population outlook (Sanilac County) Hauer SSP2

• Today (2025): 37,948 people
• By 2030: 35,772 · -5.7%
• By 2040: 30,996 · -18.3%
• By 2050: 26,280 · -30.7%
• By 2075: 17,471 · -54.0%
• By 2100: 10,572 · -72.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 7% Two or more races 4% Black 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 9% Slovak 5% Lithuanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Sanilac

• 2024 margin: Solid R (+47.7) · D 25.5% · R 73.2% · Other 1.3%
• 2008→2024 swing: -39.6pp toward R · 2008: -8.1pp · 2024: -47.7pp
• All cycles: 2024: R+47.7 2020: R+45.6 2016: R+44.5 2012: R+20.4 2008: R+8.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -30.65%
• Current HPI: 268.6695
• 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

8 events — show timeline

• 2026-03-31 Relisted — REALCOMP
• 2026-03-27 Listing Removed — REALCOMP
• 2025-12-31 Relisted — REALCOMP
• 2025-12-31 Relisted — MiRealSource-MiMLS
• 2025-12-31 Listing Removed — MiRealSource-MiMLS
• 2025-12-31 Listing Removed — REALCOMP
• 2025-06-25 Listed $37,000 REALCOMP
• 2025-06-25 Listed $37,000 MiRealSource-MiMLS