600 Applegate Dr · Marysville, MI 48040

$229,900

3 bd · 2.0 ba · 1,560 sqft · Condo · 2 Days on market

Built 1993 $50/mo HOA · 1% of rent

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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 +4.2/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

DREAMING OF THE PERFECT HOME? THIS STUNNING 3-BEDROOM, 2-BATH RESIDENCE IN MARYSVILLE DELIVERS ON EVERY FRONT. STEP INSIDE TO AN EXPANSIVE OPEN FLOOR PLAN THAT FLOWS SEAMLESSLY FROM THE LIVING AREAS TO A GORGEOUS KITCHEN FEATURING PREMIUM GRANITE COUNTERTOPS. THIS HOME IS TRULY MOVE-IN READY AND COMES FULLY EQUIPPED WITH ALL APPLIANCES INCLUDED IN THE SALE! THE FINISHED BASEMENT OFFERS ENDLESS POSSIBILITIES FOR EXTRA LIVING SPACE, WHILE THE EXTERIOR FEATURES A HUGE, PRIVATE FENCED YARD THAT FEELS LIKE A PERSONAL RETREAT. DON'T MISS THE MASSIVE 20X10 SHED, PERFECT FOR A HOBBY SHOP OR STORAGE. CALL TODAY FOR A PRIVATE SHOWING!

Key facts

• Open floor plan
• Finished basement
• Private fenced yard

Tags

• OPEN FLOOR PLAN
• PREMIUM GRANITE COUNTERTOPS
• FINISHED BASEMENT
• PRIVATE FENCED YARD
• MASSIVE SHED

Property features AI

Finance

• HOA & community: Homeowners association with a $150 quarterly fee ($50/month equivalent)

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; One level; Ground-level entry
• Construction: Vinyl siding
• Exterior features: Back yard with fencing; Shed(s); Paved road access

Interior

• Kitchen: Free‑standing gas range; Microwave; Dishwasher; Free‑standing refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; Ceiling fans
• Interior features: Finished basement; 7 total rooms
• Laundry & utility: Laundry room; Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $230k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $230k).
• Cap rate 12.3% vs local median 4.8% in Marysville — 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 78/100 on livability (#114 in MI, #2,700 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities C-, employment D+, health & safety D.
• Marysville Public Schools (suburban): math 42% / reading 53% proficiency, ranked #115 of 540 in MI (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 84 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 232 units permitted in St. Clair County in 2024 (0 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.
• St. Clair 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 $64k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 22y 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 $72k; list at $230k implies a 219% gain — meaningful room to come down on a strong offer.

Recommended offer $229,900

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.51% ✓
• Cap rate: 12.27%
• Cash-on-cash: 21.33%
• DSCR: 1.95
• GRM: 5.5

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: 13.9%
• Equity multiple: 1.55×
• Total profit: $35,675
• Equity at exit: $34,279

10-year hold

• IRR: 22.7%
• Equity multiple: 2.94×
• Total profit: $125,124
• Equity at exit: $19,878

Cash invested: $64,372 (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 48040

• Home prices YoY: -34.4%
• Active inventory: 84
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $3,464 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$241 /mo · $2,888/yr
• Insurance: −$96
• HOA: −$50
• Vacancy / Maint / Mgmt: −$727
• Net cashflow: $1,144

Break-even live

Break-even rent $2,015

Max offer price $229,900

Occupancy floor 62%

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3991 Brookstone Pl Port Huron, MI	2.0–3.0	1.0–2.0	1078	$1,570	$1.46	1d	7	1.37mi
45 Gratiot Blvd Unit 1550273P Marysville, MI	2.0	1.5	1323	$5,089	$3.85	2d	1	1.44mi

HOA detail condo

• Monthly dues: $50 · $600/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-04-30
   status Pending 632-char remark

   Show marketing remark (632 chars)

   DREAMING OF THE PERFECT HOME? THIS STUNNING 3-BEDROOM, 2-BATH RESIDENCE IN MARYSVILLE DELIVERS ON EVERY FRONT. STEP INSIDE TO AN EXPANSIVE OPEN FLOOR PLAN THAT FLOWS SEAMLESSLY FROM THE LIVING AREAS TO A GORGEOUS KITCHEN FEATURING PREMIUM GRANITE COUNTERTOPS. THIS HOME IS TRULY MOVE-IN READY AND COMES FULLY EQUIPPED WITH ALL APPLIANCES INCLUDED IN THE SALE! THE FINISHED BASEMENT OFFERS ENDLESS POSSIBILITIES FOR EXTRA LIVING SPACE, WHILE THE EXTERIOR FEATURES A HUGE, PRIVATE FENCED YARD THAT FEELS LIKE A PERSONAL RETREAT. DON'T MISS THE MASSIVE 20X10 SHED, PERFECT FOR A HOBBY SHOP OR STORAGE. CALL TODAY FOR A PRIVATE SHOWING!

2. 2026-04-30
   status Pending

   Show marketing remark (632 chars)

   DREAMING OF THE PERFECT HOME? THIS STUNNING 3-BEDROOM, 2-BATH RESIDENCE IN MARYSVILLE DELIVERS ON EVERY FRONT. STEP INSIDE TO AN EXPANSIVE OPEN FLOOR PLAN THAT FLOWS SEAMLESSLY FROM THE LIVING AREAS TO A GORGEOUS KITCHEN FEATURING PREMIUM GRANITE COUNTERTOPS. THIS HOME IS TRULY MOVE-IN READY AND COMES FULLY EQUIPPED WITH ALL APPLIANCES INCLUDED IN THE SALE! THE FINISHED BASEMENT OFFERS ENDLESS POSSIBILITIES FOR EXTRA LIVING SPACE, WHILE THE EXTERIOR FEATURES A HUGE, PRIVATE FENCED YARD THAT FEELS LIKE A PERSONAL RETREAT. DON'T MISS THE MASSIVE 20X10 SHED, PERFECT FOR A HOBBY SHOP OR STORAGE. CALL TODAY FOR A PRIVATE SHOWING!

3. 2026-04-29
   price $229,900 632-char remark

   Show marketing remark (632 chars)

   DREAMING OF THE PERFECT HOME? THIS STUNNING 3-BEDROOM, 2-BATH RESIDENCE IN MARYSVILLE DELIVERS ON EVERY FRONT. STEP INSIDE TO AN EXPANSIVE OPEN FLOOR PLAN THAT FLOWS SEAMLESSLY FROM THE LIVING AREAS TO A GORGEOUS KITCHEN FEATURING PREMIUM GRANITE COUNTERTOPS. THIS HOME IS TRULY MOVE-IN READY AND COMES FULLY EQUIPPED WITH ALL APPLIANCES INCLUDED IN THE SALE! THE FINISHED BASEMENT OFFERS ENDLESS POSSIBILITIES FOR EXTRA LIVING SPACE, WHILE THE EXTERIOR FEATURES A HUGE, PRIVATE FENCED YARD THAT FEELS LIKE A PERSONAL RETREAT. DON'T MISS THE MASSIVE 20X10 SHED, PERFECT FOR A HOBBY SHOP OR STORAGE. CALL TODAY FOR A PRIVATE SHOWING!

4. 2026-04-28
   price $229,900

   Show marketing remark (632 chars)

   DREAMING OF THE PERFECT HOME? THIS STUNNING 3-BEDROOM, 2-BATH RESIDENCE IN MARYSVILLE DELIVERS ON EVERY FRONT. STEP INSIDE TO AN EXPANSIVE OPEN FLOOR PLAN THAT FLOWS SEAMLESSLY FROM THE LIVING AREAS TO A GORGEOUS KITCHEN FEATURING PREMIUM GRANITE COUNTERTOPS. THIS HOME IS TRULY MOVE-IN READY AND COMES FULLY EQUIPPED WITH ALL APPLIANCES INCLUDED IN THE SALE! THE FINISHED BASEMENT OFFERS ENDLESS POSSIBILITIES FOR EXTRA LIVING SPACE, WHILE THE EXTERIOR FEATURES A HUGE, PRIVATE FENCED YARD THAT FEELS LIKE A PERSONAL RETREAT. DON'T MISS THE MASSIVE 20X10 SHED, PERFECT FOR A HOBBY SHOP OR STORAGE. CALL TODAY FOR A PRIVATE SHOWING!

5. 2026-04-28
   listed $235,000 Active 632-char remark

   Show marketing remark (632 chars)

   DREAMING OF THE PERFECT HOME? THIS STUNNING 3-BEDROOM, 2-BATH RESIDENCE IN MARYSVILLE DELIVERS ON EVERY FRONT. STEP INSIDE TO AN EXPANSIVE OPEN FLOOR PLAN THAT FLOWS SEAMLESSLY FROM THE LIVING AREAS TO A GORGEOUS KITCHEN FEATURING PREMIUM GRANITE COUNTERTOPS. THIS HOME IS TRULY MOVE-IN READY AND COMES FULLY EQUIPPED WITH ALL APPLIANCES INCLUDED IN THE SALE! THE FINISHED BASEMENT OFFERS ENDLESS POSSIBILITIES FOR EXTRA LIVING SPACE, WHILE THE EXTERIOR FEATURES A HUGE, PRIVATE FENCED YARD THAT FEELS LIKE A PERSONAL RETREAT. DON'T MISS THE MASSIVE 20X10 SHED, PERFECT FOR A HOBBY SHOP OR STORAGE. CALL TODAY FOR A PRIVATE SHOWING!

6. 2026-04-28
   listed $235,000 Active

   Show marketing remark (632 chars)

   DREAMING OF THE PERFECT HOME? THIS STUNNING 3-BEDROOM, 2-BATH RESIDENCE IN MARYSVILLE DELIVERS ON EVERY FRONT. STEP INSIDE TO AN EXPANSIVE OPEN FLOOR PLAN THAT FLOWS SEAMLESSLY FROM THE LIVING AREAS TO A GORGEOUS KITCHEN FEATURING PREMIUM GRANITE COUNTERTOPS. THIS HOME IS TRULY MOVE-IN READY AND COMES FULLY EQUIPPED WITH ALL APPLIANCES INCLUDED IN THE SALE! THE FINISHED BASEMENT OFFERS ENDLESS POSSIBILITIES FOR EXTRA LIVING SPACE, WHILE THE EXTERIOR FEATURES A HUGE, PRIVATE FENCED YARD THAT FEELS LIKE A PERSONAL RETREAT. DON'T MISS THE MASSIVE 20X10 SHED, PERFECT FOR A HOBBY SHOP OR STORAGE. CALL TODAY FOR A PRIVATE SHOWING!

7. 2016-06-14
   soldstatus $72,100 Sold 419-char remark

   Show marketing remark (419 chars)

   HUD Home. 3 bed, 1 bath condo with spacious back yard. Individual condominium unit, Property is NOT located in a FEMA Special Flood Hazard Area but is listed as a moderate to low flood risk. Please refer to FloodSmart. gov for additional information regarding flood zones and insurance, IE - FHA 203B Repair Escrow financing is subject to buyer's appraisal, HOA Management fee of $300.00 Annually: SBS Condo Management.

8. 2016-06-14
   soldstatus $72,100 Closed

   Show marketing remark (419 chars)

   HUD Home. 3 bed, 1 bath condo with spacious back yard. Individual condominium unit, Property is NOT located in a FEMA Special Flood Hazard Area but is listed as a moderate to low flood risk. Please refer to FloodSmart. gov for additional information regarding flood zones and insurance, IE - FHA 203B Repair Escrow financing is subject to buyer's appraisal, HOA Management fee of $300.00 Annually: SBS Condo Management.

9. 2016-04-15
   status Pending 419-char remark

   Show marketing remark (419 chars)

   HUD Home. 3 bed, 1 bath condo with spacious back yard. Individual condominium unit, Property is NOT located in a FEMA Special Flood Hazard Area but is listed as a moderate to low flood risk. Please refer to FloodSmart. gov for additional information regarding flood zones and insurance, IE - FHA 203B Repair Escrow financing is subject to buyer's appraisal, HOA Management fee of $300.00 Annually: SBS Condo Management.

10. 2016-04-14
    historical
11. 2016-04-05
    listed $63,000 Active 419-char remark

    Show marketing remark (419 chars)

    HUD Home. 3 bed, 1 bath condo with spacious back yard. Individual condominium unit, Property is NOT located in a FEMA Special Flood Hazard Area but is listed as a moderate to low flood risk. Please refer to FloodSmart. gov for additional information regarding flood zones and insurance, IE - FHA 203B Repair Escrow financing is subject to buyer's appraisal, HOA Management fee of $300.00 Annually: SBS Condo Management.

12. 2016-04-04
    listed $63,000
13. 2014-08-27
    historical
14. 2014-08-27
    historical
15. 2014-06-27
    listed $70,000
16. 2014-06-27
    listed $70,000
17. 2005-02-18
    soldstatus $129,900
18. 2005-02-18
    soldstatus $129,900
19. 2005-01-14
    historical
20. 2004-09-26
    listed $129,900
21. 2004-09-26
    listed $129,900

ⓘ 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: $2,888 · $241/mo
• Projected year-2 tax: $3,214 · $268/mo
• Expected delta: +$326/yr (+$27/mo · 11.3%)

ⓘ 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 ≥99°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: $41,563
• − Mortgage interest: −$12,878
• − Property taxes: −$2,888
• − Insurance: −$1,150
• − Repairs & maintenance: −$3,325
• − Management: −$3,325
• − HOA: −$600
• − Depreciation: −$6,688
• Taxable income: $10,710
• Est. tax owed @ 24.0%: −$2,570
• After-tax cash flow: $11,160/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: Marysville Public Schools
• NCES district ID: 2623040
• Math proficiency: 42% ▼ -14.00%
• Reading proficiency: 53% ▼ -12.00%
• Median HH income: $58,817
• Composite: 41.51/100
• National rank: #3454
• State rank: #115 of 540 in MI

Livability — Marysville

• Score: 78/100
• State rank: #114
• US rank: #2700

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marysville, MI
• City population: 9,942
• Population (ZIP): 9,942

Population outlook (St. Clair County) Hauer SSP2

• Today (2025): 154,587 people
• By 2030: 150,031 · -2.9%
• By 2040: 138,177 · -10.6%
• By 2050: 124,390 · -19.5%
• By 2075: 95,825 · -38.0%
• By 2100: 68,672 · -55.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 1% Asian 1% Black 1%
• Common ancestry: Romanian 11% Iranian 6% Lithuanian 5%
• Foreign-born: 2% · Canada, Philippines
• Languages at home: 98% English-only · Other Asian/Pacific 1%

Political lean MEDSL · St. Clair

• 2024 margin: Solid R (+34.6) · D 32.0% · R 66.6% · Other 1.4%
• 2008→2024 swing: -37.3pp toward R · 2008: 2.6pp · 2024: -34.6pp
• All cycles: 2024: R+34.6 2020: R+30.2 2016: R+31.4 2012: R+7.1 2008: D+2.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -98.64%
• Current HPI: 188.3932
• 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

+77.0% since first listed

21 events — show timeline

• 2026-04-30 Pending — MiRealSource-MiMLS
• 2026-04-30 Pending — REALCOMP
• 2026-04-29 Price Changed $229,900 MiRealSource-MiMLS
• 2026-04-28 Price Changed $229,900 REALCOMP
• 2026-04-28 Listed $235,000 REALCOMP
• 2026-04-28 Listed $235,000 MiRealSource-MiMLS
• 2016-06-14 Sold (MLS) $72,100 MiRealSource-MiMLS
• 2016-06-14 Sold (MLS) $72,100 REALCOMP
• 2016-04-15 Pending — REALCOMP
• 2016-04-14 Listing Removed — MiRealSource-MiMLS
• 2016-04-05 Listed $63,000 REALCOMP
• 2016-04-04 Listed $63,000 MiRealSource-MiMLS
• 2014-08-27 Listing Removed — MiRealSource-MiMLS
• 2014-08-27 Listing Removed — REALCOMP
• 2014-06-27 Listed $70,000 MiRealSource-MiMLS
• 2014-06-27 Listed $70,000 REALCOMP
• 2005-02-18 Sold (MLS) $129,900 MiRealSource-MiMLS
• 2005-02-18 Sold (MLS) $129,900 REALCOMP
• 2005-01-14 Listing Removed — MiRealSource-MiMLS
• 2004-09-26 Listed $129,900 MiRealSource-MiMLS
• 2004-09-26 Listed $129,900 REALCOMP

Property tax history

+4.5%/yr

Latest (2025): $2,888 · +4.2% YoY. Source: county tax records.