609 Main St · Fenton, MI 48430

$225,000

3 bd · 2.0 ba · 2,271 sqft · SingleFamily · 31 Days on market

7,841 sqft lot Est $325k · 31% under ↓ 10% since listing

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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 +19.8/30.0
• ARV discount +15.0/15.0
• DSCR +6.3/10.0
• 1% rule +4.8/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming and spacious, this 3-bedroom, 2-bath two-story home offers 2,271 square feet of comfortable living space with timeless appeal. Hardwood floors flow throughout, adding warmth and character to every room. The inviting covered front porch provides the perfect spot to relax and unwind, while the generous layout offers flexibility for both everyday living and entertaining. Out back, enjoy a nicely sized yard complete with a deck - ideal for summer gatherings, outdoor dining, or simply enjoying the open space. With its blend of classic features and functional design, this home delivers both comfort and style in a setting ready to be enjoyed.

Key facts

• 7,841 sq ft lot
• 2 garage spots
• Listed 31 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $268 ($3k/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 $221k (1.7% below list).
• Recommended offer: $218k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 3.0% in Fenton — 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 77/100 on livability (#130 in MI, #3,197 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: amenities F, commute F.
• Fenton Area Public Schools (suburban): math 38% / reading 57% proficiency, ranked #112 of 540 in MI (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.6%/yr); 311 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 419 units permitted in Genesee County in 2024 (68 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Genesee County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $218,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.98% ✗
• Cap rate: 7.72%
• Cash-on-cash: 5.10%
• DSCR: 1.23
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $324,753
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
404 Main St	0.17mi	4/2.0 (+1)	2,288 (+1%)	1mo	$280,000	$122	85
601 1st St	0.07mi	3/2.5	2,197 (-3%)	9mo	$330,000	$150	82
918 E Caroline St	0.23mi	3/2.5	2,274 (+0%)	9mo	$335,000	$147	80
408 3rd St	0.22mi	4/2.5 (+1)	2,428 (+7%)	0mo	$535,000	$220	71
765 3rd St	0.22mi	4/2.5 (+1)	2,373 (+4%)	6mo	$339,000	$143	70
765 1st St	0.14mi	3/2.5	2,500 (+10%)	9mo	$287,500	$115	67
116 South St	0.31mi	4/2.0 (+1)	2,080 (-8%)	6mo	$102,500	$49	62
910 3rd St	0.28mi	3/2.5	2,578 (+14%)	4mo	$324,000	$126	59
306 E Rockwell St	0.53mi	3/2.0	2,040 (-10%)	3mo	$480,000	$235	55
909 Williams St	0.69mi	4/2.5 (+1)	2,200 (-3%)	1mo	$430,000	$195	54
411 Jefferson St	0.65mi	3/1.5	2,407 (+6%)	7mo	$265,000	$110	52
614 S East St	0.67mi	2/2.0 (-1)	2,385 (+5%)	6mo	$325,000	$136	50

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 · 2.59% rent growth · sell at horizon

5-year hold

• IRR: -8.8%
• Equity multiple: 0.68×
• Total profit: $-20,320
• Equity at exit: $33,548

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $524
• Equity at exit: $19,454

Cash invested: $63,000 (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 48430

• Rents YoY: 2.6%
• Active inventory: 311
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,212 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$206 /mo · $2,473/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$465
• Net cashflow: $268

Break-even live

Break-even rent $1,873

Max offer price $225,000

Occupancy floor 83%

Sensitivity live

Price	-10% $395	-5% $332	+0% $268	+5% $204	+10% $141
Rent	-10% $93	-5% $180	+0% $268	+5% $355	+10% $443
Rate	-1.0pp $381	-0.5pp $325	base $268	+0.5pp $210	+1.0pp $150

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
134 N Leroy St Fenton, MI	2.0	2.0	1717	$3,500	$2.04	25d	1	0.39mi

Listing history 11 events

1. 2026-06-07
   statusdays on market $225,000 Pending 31 DOM
2. 2026-06-04
   days on market $225,000 Active 29 DOM
3. 2026-06-02
   days on market $225,000 Active 27 DOM
4. 2026-06-01
   days on market $225,000 Active 26 DOM
5. 2026-05-31
   days on market $225,000 Active 25 DOM
6. 2026-04-22
   status Pending 652-char remark

   Show marketing remark (652 chars)

   Charming and spacious, this 3-bedroom, 2-bath two-story home offers 2,271 square feet of comfortable living space with timeless appeal. Hardwood floors flow throughout, adding warmth and character to every room. The inviting covered front porch provides the perfect spot to relax and unwind, while the generous layout offers flexibility for both everyday living and entertaining. Out back, enjoy a nicely sized yard complete with a deck - ideal for summer gatherings, outdoor dining, or simply enjoying the open space. With its blend of classic features and functional design, this home delivers both comfort and style in a setting ready to be enjoyed.

7. 2026-04-22
   status Pending

   Show marketing remark (652 chars)

   Charming and spacious, this 3-bedroom, 2-bath two-story home offers 2,271 square feet of comfortable living space with timeless appeal. Hardwood floors flow throughout, adding warmth and character to every room. The inviting covered front porch provides the perfect spot to relax and unwind, while the generous layout offers flexibility for both everyday living and entertaining. Out back, enjoy a nicely sized yard complete with a deck - ideal for summer gatherings, outdoor dining, or simply enjoying the open space. With its blend of classic features and functional design, this home delivers both comfort and style in a setting ready to be enjoyed.

8. 2026-04-14
   price $225,000 652-char remark

   Show marketing remark (652 chars)

   Charming and spacious, this 3-bedroom, 2-bath two-story home offers 2,271 square feet of comfortable living space with timeless appeal. Hardwood floors flow throughout, adding warmth and character to every room. The inviting covered front porch provides the perfect spot to relax and unwind, while the generous layout offers flexibility for both everyday living and entertaining. Out back, enjoy a nicely sized yard complete with a deck - ideal for summer gatherings, outdoor dining, or simply enjoying the open space. With its blend of classic features and functional design, this home delivers both comfort and style in a setting ready to be enjoyed.

9. 2026-04-14
   price $225,000

   Show marketing remark (652 chars)

   Charming and spacious, this 3-bedroom, 2-bath two-story home offers 2,271 square feet of comfortable living space with timeless appeal. Hardwood floors flow throughout, adding warmth and character to every room. The inviting covered front porch provides the perfect spot to relax and unwind, while the generous layout offers flexibility for both everyday living and entertaining. Out back, enjoy a nicely sized yard complete with a deck - ideal for summer gatherings, outdoor dining, or simply enjoying the open space. With its blend of classic features and functional design, this home delivers both comfort and style in a setting ready to be enjoyed.

10. 2026-04-02
    listed $250,000 Active 652-char remark

    Show marketing remark (652 chars)

    Charming and spacious, this 3-bedroom, 2-bath two-story home offers 2,271 square feet of comfortable living space with timeless appeal. Hardwood floors flow throughout, adding warmth and character to every room. The inviting covered front porch provides the perfect spot to relax and unwind, while the generous layout offers flexibility for both everyday living and entertaining. Out back, enjoy a nicely sized yard complete with a deck - ideal for summer gatherings, outdoor dining, or simply enjoying the open space. With its blend of classic features and functional design, this home delivers both comfort and style in a setting ready to be enjoyed.

11. 2026-04-02
    listed $250,000 Active

    Show marketing remark (652 chars)

    Charming and spacious, this 3-bedroom, 2-bath two-story home offers 2,271 square feet of comfortable living space with timeless appeal. Hardwood floors flow throughout, adding warmth and character to every room. The inviting covered front porch provides the perfect spot to relax and unwind, while the generous layout offers flexibility for both everyday living and entertaining. Out back, enjoy a nicely sized yard complete with a deck - ideal for summer gatherings, outdoor dining, or simply enjoying the open space. With its blend of classic features and functional design, this home delivers both comfort and style in a setting ready to be enjoyed.

ⓘ 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: $2,473 · $206/mo
• Projected year-2 tax: $2,969 · $247/mo
• Expected delta: +$496/yr (+$41/mo · 20.1%)

ⓘ 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 2/10 Low 7 d/yr ≥95°F today · 15 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: $26,546
• − Mortgage interest: −$12,603
• − Property taxes: −$2,473
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,124
• − Management: −$2,124
• − Depreciation: −$6,545
• Taxable loss: −$448
• Est. tax savings @ 24.0%: +$108
• After-tax cash flow: $3,322/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: Fenton Area Public Schools
• NCES district ID: 2614250
• Math proficiency: 38% ▼ -7.00%
• Reading proficiency: 57% ▼ -2.00%
• Median HH income: $60,377
• Composite: 41.63/100
• National rank: #3426
• State rank: #112 of 540 in MI

Livability — Fenton

• Score: 77/100
• State rank: #130
• US rank: #3197

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fenton, MI
• County: Livingston County · 121,626 people
• City population: 39,309
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 39,309
• Household income: $100,193
• Rent vs Own: 18.6% rent · 81.4% own
• Severe rent burden: 642.0

Population outlook (Genesee County) Hauer SSP2

• Today (2025): 381,312 people
• By 2030: 362,731 · -4.9%
• By 2040: 321,550 · -15.7%
• By 2050: 279,212 · -26.8%
• By 2075: 193,336 · -49.3%
• By 2100: 128,118 · -66.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 3% Asian 1% Black 1%
• Common ancestry: Romanian 10% Lithuanian 5% Slovak 3%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Genesee

• 2024 margin: Toss-up / Even · D 51.4% · R 47.2% · Other 1.4%
• 2008→2024 swing: -28.3pp toward R · 2008: 32.5pp · 2024: 4.2pp
• All cycles: 2024: D+4.2 2020: D+9.3 2016: D+9.5 2012: D+28.2 2008: D+32.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -298.66%
• Current HPI: 238.8371
• Rent YoY: ▲ 2.59%
• 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

-10.0% since first listed

6 events — show timeline

• 2026-04-22 Pending — MiRealSource-MiMLS
• 2026-04-22 Pending — REALCOMP
• 2026-04-14 Price Changed $225,000 MiRealSource-MiMLS
• 2026-04-14 Price Changed $225,000 REALCOMP
• 2026-04-02 Listed $250,000 REALCOMP
• 2026-04-02 Listed $250,000 MiRealSource-MiMLS

Property tax history

+3.0%/yr

Latest (2025): $2,473 · +2.6% YoY. Source: county tax records.