532 Fox St · Lapeer, MI 48446

$189,900

4 bd · 1.0 ba · 1,344 sqft · SingleFamily · 159 Days on market

Built 1880 3,485 sqft lot $141/sqft · at area comps Est $195k · at est.

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Why this score? — see what drove the D 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 +15.5/30.0
• ARV discount +8.7/15.0
• DSCR +4.8/10.0
• Livability +3.6/5.0
• Schools +3.5/10.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully updated and move-in ready! This charming 1880s home in the heart of downtown Lapeer features 4 bedrooms, a fully remodeled kitchen and an updated bath. The home was freshly painted and has new flooring and lighting throughout. The newly-sided shed with electricity provides added storage or workshop potential. Just steps from downtown shops, dining, and community events, this historic gem offers small-town charm with modern convenience. BATVAI

Key facts

• Updated bath
• Newly-sided shed
• Steps from downtown

Tags

• FULLY REMODELED KITCHEN
• UPDATED BATH
• NEWLY-SIDED SHED
• STEPS FROM DOWNTOWN

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $76 ($915/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $153k (19.7% below list).
• Recommended offer: $153k (19.7% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 3.5% in Lapeer — 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 72/100 on livability (#231 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: employment D, commute F.
• Lapeer Community Schools (town): math 31% / reading 49% proficiency, ranked #202 of 540 in MI (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ck Schickler Elementary School (math 47% / reading 57%, grade C-, #328 of 1,397 statewide, top 26%, 512 students, 69% FRL); Rolland Warner Campus 67 (math 25% / reading 39%, grade F, #317 of 493 statewide, top 65%, 576 students, 58% FRL); Lapeer High School (math 29% / reading 55%, grade F, #264 of 713 statewide, top 41%, 1,196 students, 41% FRL) — zoned schools average 56% FRL vs 41% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 196 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 152 units permitted in Lapeer County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Lapeer County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 159 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 16y 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 $68k; list at $190k implies a 179% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $152,510 (19.7% below list)

Questions for the listing agent

1. It's been on market 159 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — 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. 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.80% ✗
• Cap rate: 6.77%
• Cash-on-cash: 1.72%
• DSCR: 1.08
• GRM: 10.4

CMA / ARV

• ARV (median comp): $195,118
• List price: $189,900
• Delta: -2.67%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
717 N Madison St	0.20mi	3/1.0 (-1)	1,340 (-0%)	1mo	$150,000	$112	85
617 N Madison St	0.19mi	3/1.5 (-1)	1,364 (+2%)	10mo	$191,000	$140	74
706 N Main St	0.26mi	5/2.0 (+1)	1,372 (+2%)	8mo	$202,000	$147	69
183 Higgins St	0.25mi	4/2.0	1,490 (+11%)	1mo	$142,500	$96	65
1256 Pine St	0.38mi	3/1.0 (-1)	1,250 (-7%)	1mo	$225,000	$180	65
1120 W Oregon St	0.41mi	3/1.0 (-1)	1,414 (+5%)	4mo	$150,000	$106	64
1020 N Monroe St	0.26mi	3/1.0 (-1)	1,440 (+7%)	10mo	$195,000	$135	63
33 Union St	0.43mi	3/2.0 (-1)	1,400 (+4%)	7mo	$257,000	$184	59
295 Oriole St	0.51mi	3/1.5 (-1)	1,232 (-8%)	2mo	$185,000	$150	53
1225 N Saginaw St W	0.37mi	4/3.0	1,522 (+13%)	7mo	$205,000	$135	47
282 Harrison St	0.56mi	3/1.5 (-1)	1,184 (-12%)	3mo	$215,000	$182	44
753 Lincoln St	0.62mi	3/1.5 (-1)	1,518 (+13%)	9mo	$215,000	$142	35

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: -13.6%
• Equity multiple: 0.51×
• Total profit: $-26,004
• Equity at exit: $28,315

10-year hold

• IRR: -4.8%
• Equity multiple: 0.68×
• Total profit: $-16,754
• Equity at exit: $16,419

Cash invested: $53,172 (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 48446

• Active inventory: 196
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,525 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$54 /mo · $643/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $76

Break-even live

Break-even rent $1,429

Max offer price $189,900

Occupancy floor 90%

Sensitivity live

Price	-10% $184	-5% $130	+0% $76	+5% $23	+10% $-31
Rent	-10% $-44	-5% $16	+0% $76	+5% $137	+10% $197
Rate	-1.0pp $172	-0.5pp $125	base $76	+0.5pp $27	+1.0pp $-23

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
189 Jessie Lee Dr Lapeer, MI	3.0	2.0	1152	$1,200	$1.04	25d	1	1.00mi
287 Jacqualyn Dr Lapeer, MI	3.0	1.0	1120	$1,075	$0.96	45d	1	1.10mi

Listing history 28 events

1. 2026-06-21
   days on market $189,900 Active 159 DOM
2. 2026-06-18
   days on market $189,900 Active 156 DOM
3. 2026-06-17
   days on market $189,900 Active 155 DOM
4. 2026-06-16
   days on market $189,900 Active 154 DOM
5. 2026-06-15
   days on market $189,900 Active 153 DOM
6. 2026-06-13
   days on market $189,900 Active 151 DOM
7. 2026-06-09
   days on market $189,900 Active 147 DOM
8. 2026-06-08
   days on market $189,900 Active 146 DOM
9. 2026-06-07
   days on market $189,900 Active 145 DOM
10. 2026-06-04
    days on market $189,900 Active 142 DOM
11. 2026-06-03
    days on market $189,900 Active 141 DOM
12. 2026-06-02
    days on market $189,900 Active 140 DOM
13. 2026-06-01
    days on market $189,900 Active 139 DOM
14. 2026-05-31
    days on market $189,900 Active 138 DOM
15. 2026-04-06
    price $189,900 458-char remark

    Show marketing remark (459 chars)

    Beautifully updated and move-in ready! This charming 1880s home in the heart of downtown Lapeer features 4 bedrooms, a fully remodeled kitchen and an updated bath. The home was freshly painted and has new flooring and lighting throughout. The newly-sided shed with electricity provides added storage or workshop potential. Just steps from downtown shops, dining, and community events, this historic gem offers small-town charm with modern convenience. BATVAI

16. 2026-04-06
    price $189,900 459-char remark

    Show marketing remark (459 chars)

    Beautifully updated and move-in ready! This charming 1880s home in the heart of downtown Lapeer features 4 bedrooms, a fully remodeled kitchen and an updated bath. The home was freshly painted and has new flooring and lighting throughout. The newly-sided shed with electricity provides added storage or workshop potential. Just steps from downtown shops, dining, and community events, this historic gem offers small-town charm with modern convenience. BATVAI

17. 2026-02-06
    status Active 458-char remark

    Show marketing remark (459 chars)

    Beautifully updated and move-in ready! This charming 1880s home in the heart of downtown Lapeer features 4 bedrooms, a fully remodeled kitchen and an updated bath. The home was freshly painted and has new flooring and lighting throughout. The newly-sided shed with electricity provides added storage or workshop potential. Just steps from downtown shops, dining, and community events, this historic gem offers small-town charm with modern convenience. BATVAI

18. 2026-02-06
    status Active 459-char remark

    Show marketing remark (459 chars)

    Beautifully updated and move-in ready! This charming 1880s home in the heart of downtown Lapeer features 4 bedrooms, a fully remodeled kitchen and an updated bath. The home was freshly painted and has new flooring and lighting throughout. The newly-sided shed with electricity provides added storage or workshop potential. Just steps from downtown shops, dining, and community events, this historic gem offers small-town charm with modern convenience. BATVAI

19. 2026-01-19
    historical Accepting Backup Offers 458-char remark

    Show marketing remark (459 chars)

    Beautifully updated and move-in ready! This charming 1880s home in the heart of downtown Lapeer features 4 bedrooms, a fully remodeled kitchen and an updated bath. The home was freshly painted and has new flooring and lighting throughout. The newly-sided shed with electricity provides added storage or workshop potential. Just steps from downtown shops, dining, and community events, this historic gem offers small-town charm with modern convenience. BATVAI

20. 2026-01-19
    historical Active Under Contract 459-char remark

    Show marketing remark (459 chars)

    Beautifully updated and move-in ready! This charming 1880s home in the heart of downtown Lapeer features 4 bedrooms, a fully remodeled kitchen and an updated bath. The home was freshly painted and has new flooring and lighting throughout. The newly-sided shed with electricity provides added storage or workshop potential. Just steps from downtown shops, dining, and community events, this historic gem offers small-town charm with modern convenience. BATVAI

21. 2026-01-13
    listed $194,900 Active 459-char remark

    Show marketing remark (458 chars)

    Beautifully updated and move-in ready! This charming 1880s home in the heart of downtown Lapeer features 4 bedrooms, a fully remodeled kitchen and an updated bath. The home was freshly painted and has new flooring and lighting throughout. The newly-sided shed with electricity provides added storage or workshop potential. Just steps from downtown shops, dining, and community events, this historic gem offers small-town charm with modern convenience. BATVAI

22. 2026-01-13
    listed $194,900 Active 458-char remark

    Show marketing remark (458 chars)

    Beautifully updated and move-in ready! This charming 1880s home in the heart of downtown Lapeer features 4 bedrooms, a fully remodeled kitchen and an updated bath. The home was freshly painted and has new flooring and lighting throughout. The newly-sided shed with electricity provides added storage or workshop potential. Just steps from downtown shops, dining, and community events, this historic gem offers small-town charm with modern convenience. BATVAI

23. 2025-06-12
    soldstatus $68,000
24. 2011-02-22
    soldstatus $47,400
25. 2011-02-22
    soldstatus $47,400
26. 2011-02-08
    historical
27. 2010-10-27
    listed $49,900
28. 2010-10-27
    listed $49,900

ⓘ 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: $643 · $54/mo
• Projected year-2 tax: $1,784 · $149/mo
• Expected delta: +$1,141/yr (+$95/mo · 177.5%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,301
• − Mortgage interest: −$10,637
• − Property taxes: −$643
• − Insurance: −$950
• − Repairs & maintenance: −$1,464
• − Management: −$1,464
• − Depreciation: −$5,524
• Taxable loss: −$2,381
• Est. tax savings @ 24.0%: +$571
• After-tax cash flow: $1,487/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: Lapeer Community Schools
• NCES district ID: 2621180
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 49% ▼ -4.00%
• Median HH income: $53,749
• Composite: 34.79/100
• National rank: #5113
• State rank: #202 of 540 in MI

Livability — Lapeer

• Score: 72/100
• State rank: #231
• US rank: #5855

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lapeer, MI
• County: Lapeer County · 30,581 people
• City population: 30,581
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 30,581
• Household income: $66,062
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 908.0

Population outlook (Lapeer County) Hauer SSP2

• Today (2025): 89,826 people
• By 2030: 89,535 · -0.3%
• By 2040: 86,695 · -3.5%
• By 2050: 80,566 · -10.3%
• By 2075: 65,783 · -26.8%
• By 2100: 46,584 · -48.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 6% Hispanic / Latino 3% Black 3%
• Common ancestry: Romanian 6% Lithuanian 4% Slovak 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Lapeer

• 2024 margin: Solid R (+39.8) · D 29.5% · R 69.3% · Other 1.3%
• 2008→2024 swing: -36.8pp toward R · 2008: -3.0pp · 2024: -39.8pp
• All cycles: 2024: R+39.8 2020: R+36.3 2016: R+38.3 2012: R+11.5 2008: R+3.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -243.58%
• Current HPI: 212.3665
• Rent YoY: —
• Metro: Detroit-Warren-Dearborn, MI
• 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

+280.6% since first listed

14 events — show timeline

• 2026-04-06 Price Changed $189,900 MiRealSource-MiMLS
• 2026-04-06 Price Changed $189,900 REALCOMP
• 2026-02-06 Relisted — MiRealSource-MiMLS
• 2026-02-06 Relisted — REALCOMP
• 2026-01-19 Contingent — MiRealSource-MiMLS
• 2026-01-19 Contingent — REALCOMP
• 2026-01-13 Listed $194,900 REALCOMP
• 2026-01-13 Listed $194,900 MiRealSource-MiMLS
• 2025-06-12 Sold (Public Records) $68,000 Public Records
• 2011-02-22 Sold (MLS) $47,400 MiRealSource-MiMLS
• 2011-02-22 Sold (MLS) $47,400 REALCOMP
• 2011-02-08 Listing Removed — MiRealSource-MiMLS
• 2010-10-27 Listed $49,900 MiRealSource-MiMLS
• 2010-10-27 Listed $49,900 REALCOMP

Property tax history

-0.9%/yr

Latest (2025): $643 · -31.4% YoY. Source: county tax records.