1164 Ashton St · Martin, MI 49070

$199,000

3 bd · 2.0 ba · 1,633 sqft · MultiFamily public records · 21 Days on market

Built 2019 $620/mo HOA · 74% of rent

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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 +13.0/30.0
• Appreciation +10.0/10.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• DSCR +3.9/10.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Step inside to find an airy, light-filled interior with plenty of room to spread out. The thoughtful layout creates an inviting flow throughout the living areas, while the split-bedroom design offers privacy and flexibility for families, guests, or a home office. Outside, this home truly shines. A full two-car garage provides ample space for vehicles, storage, or a workshop, while the deck and porch offer the perfect spots to relax, entertain, or simply enjoy the fresh air.

Key facts

• Full two car garage
• Split bedroom design
• Porch

Tags

• AIRY LIGHT FILLED INTERIOR
• THOUGHTFUL LAYOUT
• SPLIT BEDROOM DESIGN
• FULL TWO CAR GARAGE
• DECK
• PORCH

Property features AI

Finance

• HOA & community: Monthly association fee of $620, includes trash

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water
• Home design: Ranch-style home; Built in 2019; Residential property
• Construction: Vinyl siding; Crawl space foundation
• Exterior features: Public water

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Has cooling
• Interior features: 10 total rooms; Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $199k.

Deal economics

• At list price, monthly cash flow is $-11 ($-129/yr) — negative.
• To cash-flow at today's rent, offer at most $197k (0.8% below list).
• Meets the 1% rule at list price ($3k rent vs $199k).
• Recommended offer: $196k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.2% vs local median 1.1% in Martin — 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 64/100 on livability (#491 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, crime D+, amenities F.
• Martin Public Schools (rural): math 24% / reading 43% proficiency, ranked #303 of 540 in MI (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 11 active listings in the ZIP; 419 units permitted in Allegan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 3 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 25% of rent.

Recommended offer $196,015 (1.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is D 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?
5. 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.
6. 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.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.26% ✓
• Cap rate: 6.23%
• Cash-on-cash: -0.23%
• DSCR: 0.99
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.2%
• Equity multiple: 2.94×
• Total profit: $108,114
• Equity at exit: $179,275

10-year hold

• IRR: 21.5%
• Equity multiple: 6.74×
• Total profit: $319,750
• Equity at exit: $386,613

Cash invested: $55,720 (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 49070

• Active inventory: 11
• Price-to-rent: 19.8×

Monthly cashflow live

• Estimated rent: $2,512 medium
• Mortgage (P&I): −$1,044
• Tax est. 1.5%: −$249 /mo · $2,985/yr
• Insurance: −$83
• HOA: −$620
• Vacancy / Maint / Mgmt: −$528
• Net cashflow: $-11

Break-even live

Break-even rent $2,526

Max offer price $197,442

Occupancy floor 95%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$2,511
Total (3 units)			$2,512

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $620 · $7,440/yr

Listing history 18 events

1. 2026-06-18
   days on market $199,000 Active 21 DOM
2. 2026-06-17
   days on market $199,000 Active 20 DOM
3. 2026-06-16
   days on market $199,000 Active 19 DOM
4. 2026-06-15
   days on market $199,000 Active 18 DOM
5. 2026-06-13
   days on market $199,000 Active 16 DOM
6. 2026-06-12
   days on market $199,000 Active 15 DOM
7. 2026-06-09
   days on market $199,000 Active 12 DOM
8. 2026-06-08
   days on market $199,000 Active 11 DOM
9. 2026-06-07
   days on market $199,000 Active 10 DOM
10. 2026-06-05
    days on market $199,000 Active 8 DOM
11. 2026-06-04
    days on market $199,000 Active 6 DOM
12. 2026-06-02
    days on market $199,000 Active 5 DOM
13. 2026-06-01
    days on market $199,000 Active 4 DOM
14. 2026-05-31
    days on market $199,000 Active 3 DOM
15. 2026-05-31
    days on market $199,000 Active 2 DOM
16. 2026-05-28
    listed $199,000 Active

    Show marketing remark (478 chars)

    Step inside to find an airy, light-filled interior with plenty of room to spread out. The thoughtful layout creates an inviting flow throughout the living areas, while the split-bedroom design offers privacy and flexibility for families, guests, or a home office. Outside, this home truly shines. A full two-car garage provides ample space for vehicles, storage, or a workshop, while the deck and porch offer the perfect spots to relax, entertain, or simply enjoy the fresh air.

17. 2026-05-28
    listed $199,000 Active 478-char remark

    Show marketing remark (478 chars)

    Step inside to find an airy, light-filled interior with plenty of room to spread out. The thoughtful layout creates an inviting flow throughout the living areas, while the split-bedroom design offers privacy and flexibility for families, guests, or a home office. Outside, this home truly shines. A full two-car garage provides ample space for vehicles, storage, or a workshop, while the deck and porch offer the perfect spots to relax, entertain, or simply enjoy the fresh air.

18. 2026-05-28
    listed $199,000 Active 478-char remark

    Show marketing remark (478 chars)

    Step inside to find an airy, light-filled interior with plenty of room to spread out. The thoughtful layout creates an inviting flow throughout the living areas, while the split-bedroom design offers privacy and flexibility for families, guests, or a home office. Outside, this home truly shines. A full two-car garage provides ample space for vehicles, storage, or a workshop, while the deck and porch offer the perfect spots to relax, entertain, or simply enjoy the fresh air.

ⓘ 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: $30,144
• − Mortgage interest: −$11,147
• − Property taxes: −$2,985
• − Insurance: −$995
• − Repairs & maintenance: −$2,412
• − Management: −$2,412
• − HOA: −$7,440
• − Depreciation: −$5,789
• Taxable loss: −$3,035
• Est. tax savings @ 24.0%: +$728
• After-tax cash flow: $599/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: Martin Public Schools
• NCES district ID: 2622980
• Math proficiency: 24% ▼ -15.00%
• Reading proficiency: 43% ▼ -8.00%
• Median HH income: $52,218
• Composite: 29.24/100
• National rank: #6566
• State rank: #303 of 540 in MI

Livability — Martin

• Score: 64/100
• State rank: #491
• US rank: #14351

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 2,192
• Population (ZIP): 2,192

Population outlook (Allegan County) Hauer SSP2

• Today (2025): 120,251 people
• By 2030: 122,204 · +1.6%
• By 2040: 123,979 · +3.1%
• By 2050: 122,340 · +1.7%
• By 2075: 116,088 · -3.5%
• By 2100: 98,461 · -18.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 5% Hispanic / Latino 4% Native American 2%
• Common ancestry: Iranian 17% Scottish 3% Romanian 3%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 4% German/W. Germanic 0%

Political lean MEDSL · Allegan

• 2024 margin: Strong R (+27.2) · D 35.7% · R 62.9% · Other 1.5%
• 2008→2024 swing: -16.5pp toward R · 2008: -10.7pp · 2024: -27.2pp
• All cycles: 2024: R+27.2 2020: R+25.2 2016: R+28.8 2012: R+19.2 2008: R+10.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 135.94%
• Current HPI: 496.29
• 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

3 events — show timeline

• 2026-05-28 Listed $199,000 MiRealSource-MiMLS
• 2026-05-28 Listed $199,000 REALCOMP
• 2026-05-28 Listed $199,000 SW Michigan MLS