201 S Almer St · Caro, MI 48723

$129,900

4 bd · 2.0 ba · 1,392 sqft · SingleFamily public records · 119 Days on market

Built 1900 0.30 ac lot Est $152k · 14% 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 +24.9/30.0
• ARV discount +14.0/15.0
• DSCR +8.1/10.0
• 1% rule +5.6/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Fresh Updates on Almer Street! This 2 bedroom, 2 bath home features 1,491 square feet of living space and sits proudly on a spacious corner double lot. A full kitchen remodel in 2016 brought new life to the home, along with updated ceiling fans, forced air heat, central A/C, and a splitter unit in the primary bedroom for personalized comfort. You'll also appreciate the updated electrical panel and newer windows in both the kitchen and sunroom. All of this just a short distance from downtown Caro-making shopping, dining, and daily conveniences easily accessible. Schedule your personal tour today!

Key facts

• 0.3 acre lot
• Garage
• Built 1900

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Natural gas heating fuel; Electric power (implied for A/C and fans); Public sewer not explicitly stated
• Home design: Residential property; 1 1/2-story structure; Built in 1900; Entry-level main floor
• Construction: Wood construction; Michigan basement foundation; Roof type not specified
• Exterior features: Wood exterior; Paved street access; Frontage approximately 120 feet

Interior

• Kitchen: Kitchen on entry level (approx. 15 x 11); Range/Oven; Refrigerator; Dishwasher not listed
• Bedrooms: Primary bedroom on second floor (13 x 15); Second bedroom on entry level (12 x 14)
• Bathrooms: 2 full bathrooms; Entry-level bathroom (approx. 10 x 6); Second-floor bathroom (approx. 8 x 7)
• Heating & cooling: Forced air heating; Central A/C; Ceiling fan(s)
• Interior features: 9 total rooms; Finished basement
• Laundry & utility: Laundry room on entry level (approx. 5 x 10); Washer; Dryer; Basement access for utilities

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $280 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $118k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#546 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+; Watch: health & safety C-, crime F, amenities F.
• Caro Community Schools (town): math 22% / reading 36% proficiency, ranked #380 of 540 in MI (top 70%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Caro Middle School (math 20% / reading 35%, grade F, #363 of 493 statewide, top 75%, 346 students, 67% FRL) — zoned schools average 67% FRL vs 48% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 47 active listings in the ZIP; 56 units permitted in Tuscola County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Tuscola County population projected at -29% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $37k; list at $130k implies a 251% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $118,209 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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. 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: 1.06% ✓
• Cap rate: 8.88%
• Cash-on-cash: 9.25%
• DSCR: 1.41
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $151,728
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
219 Ellis St	0.03mi	3/1.0 (-1)	1,390 (-0%)	4mo	$133,000	$96	86
424 W Frank St	0.14mi	4/1.5	1,452 (+4%)	5mo	$55,000	$38	80
322 Wells St	0.16mi	4/—	1,529 (+10%)	5mo	$27,000	$18	72
427 S State Street St	0.18mi	3/2.0 (-1)	1,250 (-10%)	1mo	$106,000	$85	69
123 E Congress St	0.24mi	4/1.0	1,440 (+3%)	13mo	$156,700	$109	68
309 Norman St	0.07mi	3/1.5 (-1)	1,279 (-8%)	18mo	$160,000	$125	61
810 Gibbs St	0.43mi	3/1.5 (-1)	1,401 (+1%)	14mo	$149,900	$107	60
329 Wells St	0.14mi	3/1.0 (-1)	1,260 (-10%)	23mo	$144,900	$115	50
17 N Hooper St	0.55mi	4/1.5	1,545 (+11%)	7mo	$300,000	$194	48
749 W Frank St	0.34mi	4/1.0	1,200 (-14%)	14mo	$150,000	$125	46
906 W Burnside St	0.56mi	3/1.0 (-1)	1,260 (-10%)	11mo	$145,000	$115	40
356 W Grant St	0.50mi	3/1.0 (-1)	1,504 (+8%)	21mo	$111,500	$74	37

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: -2.4%
• Equity multiple: 0.91×
• Total profit: $-3,227
• Equity at exit: $19,369

10-year hold

• IRR: 7.3%
• Equity multiple: 1.55×
• Total profit: $20,033
• Equity at exit: $11,231

Cash invested: $36,372 (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 48723

• Home prices YoY: -24.7%
• Active inventory: 47
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,371 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$67 /mo · $806/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $280

Break-even live

Break-even rent $1,016

Max offer price $129,900

Occupancy floor 75%

Sensitivity live

Price	-10% $354	-5% $317	+0% $280	+5% $244	+10% $207
Rent	-10% $172	-5% $226	+0% $280	+5% $335	+10% $389
Rate	-1.0pp $346	-0.5pp $313	base $280	+0.5pp $247	+1.0pp $213

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $129,900 Active 119 DOM
2. 2026-06-21
   days on market $129,900 Active 118 DOM
3. 2026-06-18
   days on market $129,900 Active 116 DOM
4. 2026-06-17
   days on market $129,900 Active 115 DOM
5. 2026-06-16
   days on market $129,900 Active 114 DOM
6. 2026-06-15
   days on market $129,900 Active 113 DOM
7. 2026-06-13
   days on market $129,900 Active 111 DOM
8. 2026-06-12
   days on market $129,900 Active 110 DOM
9. 2026-06-09
   days on market $129,900 Active 107 DOM
10. 2026-06-08
    days on market $129,900 Active 106 DOM
11. 2026-06-07
    days on market $129,900 Active 105 DOM
12. 2026-06-05
    pricedays on market $129,900 Active 103 DOM
13. 2026-05-08
    price $134,900
14. 2026-04-13
    price $139,900
15. 2026-02-23
    listed $149,900 Active
16. 2026-02-22
    historical $149,900
17. 1999-05-10
    soldstatus $37,000

ⓘ 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: $806 · $67/mo
• Projected year-2 tax: $1,403 · $117/mo
• Expected delta: +$597/yr (+$50/mo · 74.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,449
• − Mortgage interest: −$7,276
• − Property taxes: −$806
• − Insurance: −$650
• − Repairs & maintenance: −$1,316
• − Management: −$1,316
• − Depreciation: −$3,779
• Taxable income: $1,307
• Est. tax owed @ 24.0%: −$314
• After-tax cash flow: $3,051/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: Caro Community Schools
• NCES district ID: 2608040
• Math proficiency: 22% ▼ -14.00%
• Reading proficiency: 36% ▼ -9.00%
• Median HH income: $41,295
• Composite: 24.49/100
• National rank: #7658
• State rank: #380 of 540 in MI

Livability — Caro

• Score: 62/100
• State rank: #546
• US rank: #16985

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Caro, MI
• Population (ZIP): 11,960

Population outlook (Tuscola County) Hauer SSP2

• Today (2025): 49,930 people
• By 2030: 47,294 · -5.3%
• By 2040: 41,504 · -16.9%
• By 2050: 35,560 · -28.8%
• By 2075: 24,455 · -51.0%
• By 2100: 16,507 · -66.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Hispanic / Latino 4% Black 1%
• Common ancestry: Romanian 8% Lithuanian 5% Slovak 2%
• Foreign-born: 1% · Canada, China
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Tuscola

• 2024 margin: Solid R (+43.0) · D 27.9% · R 70.9% · Other 1.3%
• 2008→2024 swing: -42.1pp toward R · 2008: -0.8pp · 2024: -43.0pp
• All cycles: 2024: R+43.0 2020: R+39.3 2016: R+38.0 2012: R+10.8 2008: R+0.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -74.64%
• Current HPI: 227.0019
• 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

+264.6% since first listed

5 events — show timeline

• 2026-05-08 Price Changed $134,900 MiRealSource-MiMLS
• 2026-04-13 Price Changed $139,900 MiRealSource-MiMLS
• 2026-02-23 Listed $149,900 MiRealSource-MiMLS
• 2026-02-22 Coming Soon $149,900 MiRealSource-MiMLS
• 1999-05-10 Sold (Public Records) $37,000 Public Records

Property tax history

-3.5%/yr

Latest (2025): $806 · -38.6% YoY. Source: county tax records.