720 E 2nd St · Monroe, MI 48161

$119,900

2 bd · 1.0 ba · 1,279 sqft · SingleFamily public records · 39 Days on market

Built 1873 8,712 sqft lot $94/sqft · 15% above area Est $119k · at est.

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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 +21.6/30.0
• ARV discount +7.3/15.0
• DSCR +6.9/10.0
• 1% rule +5.6/10.0
• Livability +4.2/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming and full of potential, this newly listed home offers flexible living space and plenty of character! Featuring 2 spacious bedrooms upstairs, this home also provides the possibility for a 3rd bedroom on the main floor. The former first-floor bedroom has been converted into a convenient laundry room, while an additional room just off the living room could easily serve as a bedroom, office, playroom, or guest space. Enjoy relaxing mornings and cozy evenings in the enclosed front porch, adding extra living space and charm to the home. Inside, you’ll find a comfortable layout with plenty of natural light and room to make it your own. Whether you’re looking for your first home, extra space, or an investment opportunity, this property offers versatility and value in one inviting package!

Key facts

• Extra living space
• Laundry room
• Natural light

Tags

• FLEXIBLE LIVING SPACE
• LAUNDRY ROOM
• ENCLOSED FRONT PORCH
• NATURAL LIGHT
• EXTRA LIVING SPACE

Property features AI

Finance

• Other: Listing broker: Key Realty One LLC - S. Dixie
• HOA & community: Homeowners association present

Exterior

• Utilities: Public water; Public sewer
• Home design: Two-story single-family residence; Residential property in ISADORE NAVARRE FARM subdivision; Located near Jerome St / Half St
• Construction: Aluminum siding; Above-grade finished area approximately 1,461; Two levels
• Exterior features: Lot roughly 60 x 130 (about 0.2 acres); No pool

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: 7 total rooms; Crawl space basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $182 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 4.0% in Monroe — 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 83/100 on livability (#51 in MI, #1,034 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, crime D+, amenities D+.
• Monroe Public Schools (suburban): math 24% / reading 47% proficiency, ranked #278 of 540 in MI (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 142 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $829 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 19y ago; this cycle's ask has dropped $30k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1873 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $116,303 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 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 1873 — 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. 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?
5. 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?
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: 8.12%
• Cash-on-cash: 6.51%
• DSCR: 1.29
• GRM: 7.9

CMA / ARV

• ARV (median comp): $119,360
• List price: $119,900
• Delta: 0.45%
• 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
527 E Fifth St	0.21mi	3/2.5 (+1)	1,287 (+1%)	2mo	$195,900	$152	76
116 Maple Blvd	0.43mi	3/1.5 (+1)	1,300 (+2%)	1mo	$246,000	$189	70
118 Michigan Ave	0.43mi	3/1.0 (+1)	1,224 (-4%)	2mo	$185,000	$151	66
138 Tremont St	0.57mi	2/2.0	1,272 (-0%)	9mo	$124,000	$97	61
134 Michigan Ave	0.46mi	3/2.0 (+1)	1,160 (-9%)	0mo	$180,000	$155	54
713 Roeder St	0.36mi	3/1.0 (+1)	1,090 (-15%)	1mo	$105,000	$96	53
1309 Wood St	0.59mi	2/1.0	1,159 (-9%)	9mo	$95,000	$82	49
425 Fern Ct	0.72mi	3/1.5 (+1)	1,144 (-11%)	0mo	$180,000	$157	42
323 Maple Blvd	0.61mi	3/1.0 (+1)	1,422 (+11%)	9mo	$191,000	$134	41
408 Riverview Ave	0.65mi	3/1.0 (+1)	1,109 (-13%)	2mo	$184,000	$166	41
108 E Willow St	0.60mi	3/2.0 (+1)	1,456 (+14%)	5mo	$158,000	$109	35
722 Cass St	0.73mi	3/1.0 (+1)	1,120 (-12%)	8mo	$100,000	$89	34

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: -6.3%
• Equity multiple: 0.77×
• Total profit: $-7,809
• Equity at exit: $17,877

10-year hold

• IRR: 3.4%
• Equity multiple: 1.24×
• Total profit: $8,207
• Equity at exit: $10,367

Cash invested: $33,572 (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 48161

• Active inventory: 142
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,273 high
• Mortgage (P&I): −$629
• Tax from tax record: −$145 /mo · $1,734/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $182

Break-even live

Break-even rent $1,042

Max offer price $119,900

Occupancy floor 81%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
505 Harrison St Monroe, MI	3.0	2.0	1188	$1,600	$1.35	44d	1	0.72mi
733 Smith St Monroe, MI	3.0	1.5	1000	$1,500	$1.50	44d	1	0.87mi
765 N Macomb St Monroe, MI	2.0	1.0	1050	$1,150	$1.10	44d	1	1.13mi
767 N Macomb St Monroe, MI	2.0	1.0	1050	$1,150	$1.10	44d	1	1.13mi
927 N Macomb St Monroe, MI	1.0	1.0	900	$1,195	$1.33	18d	1	1.24mi

Listing history 34 events

1. 2026-06-19
   days on market $119,900 Active 39 DOM
2. 2026-06-18
   days on market $119,900 Active 38 DOM
3. 2026-06-17
   days on market $119,900 Active 37 DOM
4. 2026-06-16
   days on market $119,900 Active 36 DOM

   Show marketing remark (811 chars)

   Charming and full of potential, this newly listed home offers flexible living space and plenty of character! Featuring 2 spacious bedrooms upstairs, this home also provides the possibility for a 3rd bedroom on the main floor. The former first-floor bedroom has been converted into a convenient laundry room, while an additional room just off the living room could easily serve as a bedroom, office, playroom, or guest space. Enjoy relaxing mornings and cozy evenings in the enclosed front porch, adding extra living space and charm to the home. Inside, you’ll find a comfortable layout with plenty of natural light and room to make it your own. Whether you’re looking for your first home, extra space, or an investment opportunity, this property offers versatility and value in one inviting package!

5. 2026-06-16
   price $119,900 Active 35 DOM

   Show marketing remark (811 chars)

   Charming and full of potential, this newly listed home offers flexible living space and plenty of character! Featuring 2 spacious bedrooms upstairs, this home also provides the possibility for a 3rd bedroom on the main floor. The former first-floor bedroom has been converted into a convenient laundry room, while an additional room just off the living room could easily serve as a bedroom, office, playroom, or guest space. Enjoy relaxing mornings and cozy evenings in the enclosed front porch, adding extra living space and charm to the home. Inside, you’ll find a comfortable layout with plenty of natural light and room to make it your own. Whether you’re looking for your first home, extra space, or an investment opportunity, this property offers versatility and value in one inviting package!

6. 2026-06-15
   days on market $129,900 Active 35 DOM
7. 2026-06-14
   days on market $129,900 Active 33 DOM
8. 2026-06-12
   days on market $129,900 Active 32 DOM
9. 2026-06-09
   days on market $129,900 Active 29 DOM
10. 2026-06-08
    days on market $129,900 Active 28 DOM
11. 2026-06-07
    days on market $129,900 Active 27 DOM
12. 2026-06-05
    pricedays on market $129,900 Active 24 DOM
13. 2026-06-02
    days on market $139,900 Active 22 DOM
14. 2026-06-01
    days on market $139,900 Active 21 DOM
15. 2026-05-31
    days on market $139,900 Active 20 DOM
16. 2026-05-30
    days on market $139,900 Active 19 DOM
17. 2026-05-11
    listed $149,900 Active 799-char remark

    Show marketing remark (811 chars)

    Charming and full of potential, this newly listed home offers flexible living space and plenty of character! Featuring 2 spacious bedrooms upstairs, this home also provides the possibility for a 3rd bedroom on the main floor. The former first-floor bedroom has been converted into a convenient laundry room, while an additional room just off the living room could easily serve as a bedroom, office, playroom, or guest space. Enjoy relaxing mornings and cozy evenings in the enclosed front porch, adding extra living space and charm to the home. Inside, you’ll find a comfortable layout with plenty of natural light and room to make it your own. Whether you’re looking for your first home, extra space, or an investment opportunity, this property offers versatility and value in one inviting package!

18. 2026-05-11
    listed $149,900 Active 811-char remark

    Show marketing remark (811 chars)

    Charming and full of potential, this newly listed home offers flexible living space and plenty of character! Featuring 2 spacious bedrooms upstairs, this home also provides the possibility for a 3rd bedroom on the main floor. The former first-floor bedroom has been converted into a convenient laundry room, while an additional room just off the living room could easily serve as a bedroom, office, playroom, or guest space. Enjoy relaxing mornings and cozy evenings in the enclosed front porch, adding extra living space and charm to the home. Inside, you’ll find a comfortable layout with plenty of natural light and room to make it your own. Whether you’re looking for your first home, extra space, or an investment opportunity, this property offers versatility and value in one inviting package!

19. 2022-05-24
    soldstatus $130,000
20. 2022-04-29
    soldstatus $130,000 Sold

    Show marketing remark (323 chars)

    Ready to move-in. Perfect place to start a family or downsize. Charming 3 bedroom place completely remodeled. New carpet, new flooring and painted throughout. 1st floor laundry, gas or electric stove ready. Great off street parking. Great access to I75, downtown and nearby shopping. Make this place your home by Christmas!

21. 2022-04-29
    soldstatus $130,000 Closed

    Show marketing remark (323 chars)

    Ready to move-in. Perfect place to start a family or downsize. Charming 3 bedroom place completely remodeled. New carpet, new flooring and painted throughout. 1st floor laundry, gas or electric stove ready. Great off street parking. Great access to I75, downtown and nearby shopping. Make this place your home by Christmas!

22. 2022-03-11
    status Pending

    Show marketing remark (323 chars)

    Ready to move-in. Perfect place to start a family or downsize. Charming 3 bedroom place completely remodeled. New carpet, new flooring and painted throughout. 1st floor laundry, gas or electric stove ready. Great off street parking. Great access to I75, downtown and nearby shopping. Make this place your home by Christmas!

23. 2022-03-11
    status Pending

    Show marketing remark (323 chars)

    Ready to move-in. Perfect place to start a family or downsize. Charming 3 bedroom place completely remodeled. New carpet, new flooring and painted throughout. 1st floor laundry, gas or electric stove ready. Great off street parking. Great access to I75, downtown and nearby shopping. Make this place your home by Christmas!

24. 2022-01-26
    status Active

    Show marketing remark (323 chars)

    Ready to move-in. Perfect place to start a family or downsize. Charming 3 bedroom place completely remodeled. New carpet, new flooring and painted throughout. 1st floor laundry, gas or electric stove ready. Great off street parking. Great access to I75, downtown and nearby shopping. Make this place your home by Christmas!

25. 2022-01-26
    status Active

    Show marketing remark (323 chars)

    Ready to move-in. Perfect place to start a family or downsize. Charming 3 bedroom place completely remodeled. New carpet, new flooring and painted throughout. 1st floor laundry, gas or electric stove ready. Great off street parking. Great access to I75, downtown and nearby shopping. Make this place your home by Christmas!

26. 2021-11-13
    status Pending

    Show marketing remark (323 chars)

    Ready to move-in. Perfect place to start a family or downsize. Charming 3 bedroom place completely remodeled. New carpet, new flooring and painted throughout. 1st floor laundry, gas or electric stove ready. Great off street parking. Great access to I75, downtown and nearby shopping. Make this place your home by Christmas!

27. 2021-11-13
    status Pending

    Show marketing remark (323 chars)

    Ready to move-in. Perfect place to start a family or downsize. Charming 3 bedroom place completely remodeled. New carpet, new flooring and painted throughout. 1st floor laundry, gas or electric stove ready. Great off street parking. Great access to I75, downtown and nearby shopping. Make this place your home by Christmas!

28. 2021-11-02
    listed $134,900 Active

    Show marketing remark (323 chars)

    Ready to move-in. Perfect place to start a family or downsize. Charming 3 bedroom place completely remodeled. New carpet, new flooring and painted throughout. 1st floor laundry, gas or electric stove ready. Great off street parking. Great access to I75, downtown and nearby shopping. Make this place your home by Christmas!

29. 2021-11-02
    listed $134,900 Active

    Show marketing remark (323 chars)

    Ready to move-in. Perfect place to start a family or downsize. Charming 3 bedroom place completely remodeled. New carpet, new flooring and painted throughout. 1st floor laundry, gas or electric stove ready. Great off street parking. Great access to I75, downtown and nearby shopping. Make this place your home by Christmas!

30. 2008-06-15
    historical
31. 2008-06-15
    historical
32. 2007-12-15
    listed $109,900
33. 2007-12-15
    listed $109,900
34. 2005-05-12
    soldstatus $56,000

ⓘ 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: $1,734 · $145/mo
• Projected year-2 tax: $1,790 · $149/mo
• Expected delta: +$56/yr (+$5/mo · 3.2%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,273
• − Mortgage interest: −$6,716
• − Property taxes: −$1,734
• − Insurance: −$600
• − Repairs & maintenance: −$1,222
• − Management: −$1,222
• − Depreciation: −$3,488
• Taxable income: $291
• Est. tax owed @ 24.0%: −$70
• After-tax cash flow: $2,117/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: Monroe Public Schools
• NCES district ID: 2624150
• Math proficiency: 24% ▲ 3.00%
• Reading proficiency: 47% ▲ 12.00%
• Median HH income: $46,437
• Composite: 30.33/100
• National rank: #6269
• State rank: #278 of 540 in MI

Livability — Monroe

• Score: 83/100
• State rank: #51
• US rank: #1034

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Monroe, MI
• County: Monroe County · 54,460 people
• City population: 54,460
• Metro: Monroe, MI
• Population (ZIP): 26,304
• Household income: $67,414
• Rent vs Own: 23.6% rent · 76.4% own
• Severe rent burden: 733.0

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 (85%)
• Race & ethnicity: White 85% Two or more races 7% Black 5% Hispanic / Latino 5%
• Common ancestry: Lithuanian 10% Romanian 8% Italian 2%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1% Arabic 1%

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: ▼ -178.99%
• Current HPI: 126.2638
• Rent YoY: —
• Metro: Monroe, 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

+114.1% since first listed

28 events — show timeline

• 2026-06-16 Price Changed $119,900 MiRealSource-MiMLS
• 2026-06-15 Price Changed $119,900 REALCOMP
• 2026-06-04 Price Changed $129,900 MiRealSource-MiMLS
• 2026-06-04 Price Changed $129,900 REALCOMP
• 2026-05-27 Price Changed $139,900 MiRealSource-MiMLS
• 2026-05-26 Price Changed $139,900 REALCOMP
• 2026-05-21 Relisted — REALCOMP
• 2026-05-21 Relisted — MiRealSource-MiMLS
• 2026-05-20 Contingent — REALCOMP
• 2026-05-20 Contingent — MiRealSource-MiMLS
• 2026-05-11 Listed $149,900 REALCOMP
• 2026-05-11 Listed $149,900 MiRealSource-MiMLS
• 2022-05-24 Sold (Public Records) $130,000 Public Records
• 2022-04-29 Sold (MLS) $130,000 MiRealSource-MiMLS
• 2022-04-29 Sold (MLS) $130,000 REALCOMP
• 2022-03-11 Pending — REALCOMP
• 2022-03-11 Pending — MiRealSource-MiMLS
• 2022-01-26 Relisted — REALCOMP
• 2022-01-26 Relisted — MiRealSource-MiMLS
• 2021-11-13 Pending — REALCOMP
• 2021-11-13 Pending — MiRealSource-MiMLS
• 2021-11-02 Listed $134,900 MiRealSource-MiMLS
• 2021-11-02 Listed $134,900 REALCOMP
• 2008-06-15 Listing Removed — MiRealSource-MiMLS
• 2008-06-15 Listing Removed — REALCOMP
• 2007-12-15 Listed $109,900 MiRealSource-MiMLS
• 2007-12-15 Listed $109,900 REALCOMP
• 2005-05-12 Sold (Public Records) $56,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $1,734 · -24.8% YoY. Source: county tax records.