12933 Lulu Rd · Ida, MI 48140

$89,900

2 bd · 1.0 ba · 781 sqft · SingleFamily public records · 50 Days on market

Built 1910 0.75 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in desirable Ida School district, this cozy turn of the century farm home is awaiting your creativity to make it your own. Nestled on 3/4 of an acre with two lots and a one car attached garage, quiet country living could be yours. The big projects are done-new private well in the last 12 years, new roof in 2021, updated electrical and plumbing, all just waiting for someone to finish and restore it for their own country retreat. The home is plumbed for a 4 piece bathroom, laundry room, and kitchen. Currently, all rooms are framed in and unfinished (only studs). There is potential for 2 possibly 3 bedrooms. Bring your vision and be a part of this homes forever story. Home is being sold AS-IS. Seller will make no repairs. Items to finish some of the projects (heating and cooling units, ceiling fans, lighting fixtures, and bathroom fixtures) are on site and may be negotiated into the sale. BATVAI.

Key facts

• Updated electrical
• Private well
• Plumbed for bathroom

Tags

• IDA SCHOOL DISTRICT
• PRIVATE WELL
• NEW ROOF
• UPDATED ELECTRICAL
• UPDATED PLUMBING
• PLUMBED FOR BATHROOM

Property features AI

Finance

• Other: Property listed as residential single family
• HOA & community: Homeowners association present

Exterior

• Parking: Detached garage (1 car)
• Utilities: Private well water; Septic tank sewer
• Home design: Single-family residence; One-and-a-half story
• Construction: Stone and vinyl siding exterior; 781 above-grade finished square feet
• Exterior features: Approximately 0.75-acre lot; Lot dimensions listed as 32670

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: No central cooling
• Interior features: Crawl space basement; 6 total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $897 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Ida Public School District (rural): math 39% / reading 55% proficiency, ranked #101 of 540 in MI (top 19%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: 11 active listings in the ZIP; 264 units permitted in Monroe County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Monroe County population projected at -20% 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 $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 17y ago 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.
• Current owner paid $46k; list at $90k implies a 95% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 2.04% ✓
• Cap rate: 18.27%
• Cash-on-cash: 42.76%
• DSCR: 2.90
• GRM: 4.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 39.5%
• Equity multiple: 2.69×
• Total profit: $42,549
• Equity at exit: $13,404

10-year hold

• IRR: 45.9%
• Equity multiple: 5.39×
• Total profit: $110,553
• Equity at exit: $7,773

Cash invested: $25,172 (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 48140

• Active inventory: 11
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,831 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$41 /mo · $489/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $897

Break-even live

Break-even rent $696

Max offer price $89,900

Occupancy floor 46%

Sensitivity live

Price	-10% $948	-5% $922	+0% $897	+5% $872	+10% $846
Rent	-10% $752	-5% $825	+0% $897	+5% $969	+10% $1,042
Rate	-1.0pp $942	-0.5pp $920	base $897	+0.5pp $874	+1.0pp $850

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-19
   days on market $89,900 Active 50 DOM
2. 2026-06-18
   days on market $89,900 Active 49 DOM
3. 2026-06-17
   days on market $89,900 Active 48 DOM
4. 2026-06-16
   days on market $89,900 Active 47 DOM
5. 2026-06-15
   days on market $89,900 Active 46 DOM
6. 2026-06-14
   days on market $89,900 Active 44 DOM
7. 2026-06-12
   days on market $89,900 Active 43 DOM
8. 2026-06-09
   days on market $89,900 Active 40 DOM
9. 2026-06-08
   days on market $89,900 Active 39 DOM
10. 2026-06-07
    days on market $89,900 Active 38 DOM
11. 2026-06-05
    days on market $89,900 Active 35 DOM
12. 2026-06-03
    days on market $89,900 Active 34 DOM
13. 2026-06-02
    days on market $89,900 Active 33 DOM
14. 2026-06-01
    days on market $89,900 Active 32 DOM
15. 2026-05-31
    days on market $89,900 Active 31 DOM
16. 2026-05-30
    days on market $89,900 Active 30 DOM
17. 2026-04-30
    listed $89,900 Active 914-char remark

    Show marketing remark (914 chars)

    Located in desirable Ida School district, this cozy turn of the century farm home is awaiting your creativity to make it your own. Nestled on 3/4 of an acre with two lots and a one car attached garage, quiet country living could be yours. The big projects are done-new private well in the last 12 years, new roof in 2021, updated electrical and plumbing, all just waiting for someone to finish and restore it for their own country retreat. The home is plumbed for a 4 piece bathroom, laundry room, and kitchen. Currently, all rooms are framed in and unfinished (only studs). There is potential for 2 possibly 3 bedrooms. Bring your vision and be a part of this homes forever story. Home is being sold AS-IS. Seller will make no repairs. Items to finish some of the projects (heating and cooling units, ceiling fans, lighting fixtures, and bathroom fixtures) are on site and may be negotiated into the sale. BATVAI.

18. 2026-04-30
    listed $89,900 Active 914-char remark

    Show marketing remark (914 chars)

    Located in desirable Ida School district, this cozy turn of the century farm home is awaiting your creativity to make it your own. Nestled on 3/4 of an acre with two lots and a one car attached garage, quiet country living could be yours. The big projects are done-new private well in the last 12 years, new roof in 2021, updated electrical and plumbing, all just waiting for someone to finish and restore it for their own country retreat. The home is plumbed for a 4 piece bathroom, laundry room, and kitchen. Currently, all rooms are framed in and unfinished (only studs). There is potential for 2 possibly 3 bedrooms. Bring your vision and be a part of this homes forever story. Home is being sold AS-IS. Seller will make no repairs. Items to finish some of the projects (heating and cooling units, ceiling fans, lighting fixtures, and bathroom fixtures) are on site and may be negotiated into the sale. BATVAI.

19. 2021-08-17
    soldstatus $46,000
20. 2021-07-15
    soldstatus $46,000 Sold

    Show marketing remark (354 chars)

    * * * * Bank Owned being sold AS IS, CASH ONLY * * * * * Home needs major renovation, smaller home on the property cannot be rented. Could make good heated storage. There is a 1 car garage and two small out buildings in back. Nice property behind the home. Small home has its own tax bill, taxes are included in figures shown. Lot size is 26x132.

21. 2021-07-15
    soldstatus $46,000 Closed

    Show marketing remark (354 chars)

    * * * * Bank Owned being sold AS IS, CASH ONLY * * * * * Home needs major renovation, smaller home on the property cannot be rented. Could make good heated storage. There is a 1 car garage and two small out buildings in back. Nice property behind the home. Small home has its own tax bill, taxes are included in figures shown. Lot size is 26x132.

22. 2021-06-25
    status Pending

    Show marketing remark (354 chars)

    * * * * Bank Owned being sold AS IS, CASH ONLY * * * * * Home needs major renovation, smaller home on the property cannot be rented. Could make good heated storage. There is a 1 car garage and two small out buildings in back. Nice property behind the home. Small home has its own tax bill, taxes are included in figures shown. Lot size is 26x132.

23. 2021-06-25
    status Pending

    Show marketing remark (354 chars)

    * * * * Bank Owned being sold AS IS, CASH ONLY * * * * * Home needs major renovation, smaller home on the property cannot be rented. Could make good heated storage. There is a 1 car garage and two small out buildings in back. Nice property behind the home. Small home has its own tax bill, taxes are included in figures shown. Lot size is 26x132.

24. 2021-06-16
    listed $39,900 Active

    Show marketing remark (354 chars)

    * * * * Bank Owned being sold AS IS, CASH ONLY * * * * * Home needs major renovation, smaller home on the property cannot be rented. Could make good heated storage. There is a 1 car garage and two small out buildings in back. Nice property behind the home. Small home has its own tax bill, taxes are included in figures shown. Lot size is 26x132.

25. 2021-06-16
    listed $39,900 Active

    Show marketing remark (354 chars)

    * * * * Bank Owned being sold AS IS, CASH ONLY * * * * * Home needs major renovation, smaller home on the property cannot be rented. Could make good heated storage. There is a 1 car garage and two small out buildings in back. Nice property behind the home. Small home has its own tax bill, taxes are included in figures shown. Lot size is 26x132.

26. 2021-02-10
    soldstatus $19,600
27. 2009-10-06
    soldstatus $25,000
28. 2009-09-30
    soldstatus $25,000
29. 2009-09-30
    soldstatus $25,000
30. 2009-09-04
    historical
31. 2009-02-05
    listed $39,900
32. 2009-02-05
    listed $39,900

ⓘ 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: $489 · $41/mo
• Projected year-2 tax: $937 · $78/mo
• Expected delta: +$448/yr (+$37/mo · 91.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,975
• − Mortgage interest: −$5,036
• − Property taxes: −$489
• − Insurance: −$450
• − Repairs & maintenance: −$1,758
• − Management: −$1,758
• − Depreciation: −$2,615
• Taxable income: $9,870
• Est. tax owed @ 24.0%: −$2,369
• After-tax cash flow: $8,396/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: Ida Public School District
• NCES district ID: 2619050
• Math proficiency: 39% ▼ -9.00%
• Reading proficiency: 55% ▼ -4.00%
• Median HH income: $74,806
• Composite: 42.61/100
• National rank: #3190
• State rank: #101 of 540 in MI

Livability — Ida

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

Census & demographics

• Population (ZIP): 3,370

Population outlook (Monroe County) Hauer SSP2

• Today (2025): 144,439 people
• By 2030: 140,033 · -3.1%
• By 2040: 128,408 · -11.1%
• By 2050: 115,024 · -20.4%
• By 2075: 87,273 · -39.6%
• By 2100: 63,110 · -56.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Hispanic / Latino 2%
• Common ancestry: Romanian 12% Lithuanian 5% English 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1% French/Haitian/Cajun 0%

Political lean MEDSL · Monroe

• 2024 margin: Strong R (+27.1) · D 35.7% · R 62.9% · Other 1.4%
• 2008→2024 swing: -31.5pp toward R · 2008: 4.3pp · 2024: -27.1pp
• All cycles: 2024: R+27.1 2020: R+22.6 2016: R+22.1 2012: D+1.0 2008: D+4.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -135.48%
• Current HPI: 188.7532
• 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

+125.3% since first listed

16 events — show timeline

• 2026-04-30 Listed $89,900 MiRealSource-MiMLS
• 2026-04-30 Listed $89,900 REALCOMP
• 2021-08-17 Sold (Public Records) $46,000 Public Records
• 2021-07-15 Sold (MLS) $46,000 MiRealSource-MiMLS
• 2021-07-15 Sold (MLS) $46,000 REALCOMP
• 2021-06-25 Pending — REALCOMP
• 2021-06-25 Pending — MiRealSource-MiMLS
• 2021-06-16 Listed $39,900 MiRealSource-MiMLS
• 2021-06-16 Listed $39,900 REALCOMP
• 2021-02-10 Sold (Public Records) $19,600 Public Records
• 2009-10-06 Sold (Public Records) $25,000 Public Records
• 2009-09-30 Sold (MLS) $25,000 MiRealSource-MiMLS
• 2009-09-30 Sold (MLS) $25,000 REALCOMP
• 2009-09-04 Listing Removed — MiRealSource-MiMLS
• 2009-02-05 Listed $39,900 MiRealSource-MiMLS
• 2009-02-05 Listed $39,900 REALCOMP

Property tax history

-6.6%/yr

Latest (2025): $489 · -76.1% YoY. Source: county tax records.