68 Navarre St · Monroe, MI 48161

$169,000

4 bd · 2.5 ba · 2,013 sqft · SingleFamily public records · 22 Days on market

2,178 sqft lot Est $207k · 18% under

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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 +22.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.3/10.0
• 1% rule +5.5/10.0
• 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

HUD Home. Welcome to this spacious two-unit home offering incredible potential for multi-family living or rental income! The main unit features 3 generously sized bedrooms with oversized rooms throughout, providing plenty of space for comfortable living and entertaining. The cozy upper unit includes 1 bedroom and a warm, inviting atmosphere perfect for tenants, guests, or extended family. Whether you’re looking to create a versatile living arrangement, this property offers endless possibilities! Close to all the city conveniences and I-75 hwy. A must Look today!

Key facts

• 2,178 sq ft lot
• Listed 21 days

Property features AI

Finance

• Other: Listing broker: Gerweck Real Estate in Monroe
• Financial info: Annual tax: $2,777

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Two-story multi-family residential income property; Vinyl siding
• Construction: Vinyl siding construction
• Exterior features: Lot approximately 40 x 50 (0.05 acre); Located at Humphrey St / E First St

Interior

• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $169k.

Deal economics

• At list price, monthly cash flow is $241 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $169k).
• Recommended offer: $166k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.4% 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; 264 units permitted in Monroe County in 2024 (40 in 5+ unit buildings).
• This rent runs 32% of the median local income ($67k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 22 days — a 2% lower offer ($166k) is reasonable based on typical stale-listing flexibility.
• 26 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $166,465 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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 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: 1.05% ✓
• Cap rate: 8.40%
• Cash-on-cash: 7.52%
• DSCR: 1.33
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $207,339
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
526 E Second St	0.13mi	3/2.5 (-1)	2,086 (+4%)	3mo	$178,000	$85	80
422 E 1st St	0.10mi	4/2.0	1,728 (-14%)	2mo	$179,900	$104	68
215 Harrison St	0.56mi	4/1.5	2,000 (-1%)	8mo	$230,000	$115	62
422 Lapoint Ave	0.61mi	3/2.5 (-1)	1,964 (-2%)	2mo	$254,900	$130	61
128 Cass St	0.51mi	4/2.5	1,900 (-6%)	9mo	$224,000	$118	60
1270 E 1st St	0.59mi	5/2.0 (+1)	1,857 (-8%)	1mo	$45,000	$24	52
712 Washington St	0.60mi	4/1.5	2,176 (+8%)	8mo	$224,000	$103	48
412 Winchester St	0.46mi	3/2.0 (-1)	1,757 (-13%)	3mo	$145,000	$83	48
132 Godfroy Ave	0.66mi	5/2.0 (+1)	1,839 (-9%)	4mo	$183,000	$100	45
633 Scott St	0.50mi	3/2.0 (-1)	2,313 (+15%)	8mo	$180,000	$78	39
524 Arbor Ave	0.69mi	4/1.0	1,740 (-14%)	6mo	$210,000	$121	34
111 W Noble Ave	0.68mi	3/1.5 (-1)	2,296 (+14%)	6mo	$173,000	$75	31

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: -6.9%
• Equity multiple: 0.75×
• Total profit: $-12,019
• Equity at exit: $25,198

10-year hold

• IRR: 2.8%
• Equity multiple: 1.20×
• Total profit: $9,377
• Equity at exit: $14,612

Cash invested: $47,320 (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: 8.0×

Monthly cashflow live

• Estimated rent: $1,770 medium
• Mortgage (P&I): −$886
• Tax from tax record: −$145 /mo · $1,742/yr
• Insurance: −$70
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $241

Break-even live

Break-even rent $1,465

Max offer price $169,000

Occupancy floor 81%

Sensitivity live

Price	-10% $337	-5% $289	+0% $241	+5% $193	+10% $145
Rent	-10% $101	-5% $171	+0% $241	+5% $311	+10% $381
Rate	-1.0pp $326	-0.5pp $284	base $241	+0.5pp $197	+1.0pp $153

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-19
   days on market $169,000 Active 22 DOM
2. 2026-06-18
   days on market $169,000 Active 21 DOM
3. 2026-06-17
   days on market $169,000 Active 20 DOM
4. 2026-06-16
   days on market $169,000 Active 19 DOM
5. 2026-06-15
   days on market $169,000 Active 18 DOM
6. 2026-06-14
   days on market $169,000 Active 16 DOM
7. 2026-06-12
   days on market $169,000 Active 15 DOM
8. 2026-06-09
   days on market $169,000 Active 12 DOM
9. 2026-06-08
   days on market $169,000 Active 11 DOM
10. 2026-06-07
    days on market $169,000 Active 10 DOM
11. 2026-06-05
    days on market $169,000 Active 7 DOM
12. 2026-06-02
    days on market $169,000 Active 5 DOM
13. 2026-06-01
    days on market $169,000 Active 4 DOM
14. 2026-05-31
    days on market $169,000 Active 3 DOM
15. 2026-05-30
    days on market $169,000 Active 2 DOM
16. 2026-05-28
    listed $169,000 Active

    Show marketing remark (575 chars)

    HUD Home. Welcome to this spacious two-unit home offering incredible potential for multi-family living or rental income! The main unit features 3 generously sized bedrooms with oversized rooms throughout, providing plenty of space for comfortable living and entertaining. The cozy upper unit includes 1 bedroom and a warm, inviting atmosphere perfect for tenants, guests, or extended family. Whether you’re looking to create a versatile living arrangement, this property offers endless possibilities! Close to all the city conveniences and I-75 hwy. A must Look today!

17. 2026-05-28
    listed $169,000 Active 575-char remark

    Show marketing remark (575 chars)

    HUD Home. Welcome to this spacious two-unit home offering incredible potential for multi-family living or rental income! The main unit features 3 generously sized bedrooms with oversized rooms throughout, providing plenty of space for comfortable living and entertaining. The cozy upper unit includes 1 bedroom and a warm, inviting atmosphere perfect for tenants, guests, or extended family. Whether you’re looking to create a versatile living arrangement, this property offers endless possibilities! Close to all the city conveniences and I-75 hwy. A must Look today!

18. 2026-02-08
    status Pending
19. 2026-02-08
    status Pending
20. 2026-02-06
    historical
21. 2026-01-29
    listed $139,900 Active
22. 2026-01-29
    listed $139,900 Active
23. 2025-07-22
    historical
24. 2025-05-16
    listed $165,000 Active
25. 2025-05-16
    listed $165,000 Active
26. 2025-03-11
    status Pending
27. 2025-03-11
    status Pending
28. 2025-03-11
    historical
29. 2025-03-01
    listed $165,000 Active
30. 2025-03-01
    listed $165,000 Active
31. 2024-08-09
    historical
32. 2024-08-09
    historical
33. 2024-06-25
    status Active
34. 2024-06-20
    status Pending
35. 2024-06-12
    listed $165,000 Active
36. 2024-06-12
    listed $165,000
37. 2024-02-13
    soldstatus $149,900
38. 2024-02-09
    soldstatus $149,900 Sold
39. 2024-02-09
    soldstatus $149,900 Closed
40. 2024-02-09
    soldstatus $149,900
41. 2024-02-09
    soldstatus $149,900 Closed
42. 2024-01-30
    status Pending
43. 2024-01-30
    status Pending
44. 2024-01-30
    status Pending
45. 2024-01-05
    historical Contingent - Continue To Show
46. 2024-01-05
    historical Keep Showing-Contgcy Appl
47. 2024-01-05
    historical Keep Showing-Contgcy Appl
48. 2023-12-29
    listed $149,900 Active
49. 2023-12-29
    listed $149,900 Active
50. 2023-12-29
    listed $149,900

ⓘ 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: $1,742 · $145/mo
• Projected year-2 tax: $2,172 · $181/mo
• Expected delta: +$431/yr (+$36/mo · 24.7%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 99% 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: $21,240
• − Mortgage interest: −$9,467
• − Property taxes: −$1,742
• − Insurance: −$1,512
• − Repairs & maintenance: −$1,699
• − Management: −$1,699
• − Depreciation: −$4,916
• Taxable income: $205
• Est. tax owed @ 24.0%: −$49
• After-tax cash flow: $2,842/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

+88.0% since first listed

59 events — show timeline

• 2026-05-28 Listed $169,000 MiRealSource-MiMLS
• 2026-05-28 Listed $169,000 REALCOMP
• 2026-02-08 Pending — REALCOMP
• 2026-02-08 Pending — MiRealSource-MiMLS
• 2026-02-06 Listing Removed — MiRealSource-MiMLS
• 2026-01-29 Listed $139,900 REALCOMP
• 2026-01-29 Listed $139,900 MiRealSource-MiMLS
• 2025-07-22 Listing Removed — MiRealSource-MiMLS
• 2025-05-16 Listed $165,000 MiRealSource-MiMLS
• 2025-05-16 Listed $165,000 REALCOMP
• 2025-03-11 Pending — REALCOMP
• 2025-03-11 Pending — MiRealSource-MiMLS
• 2025-03-11 Listing Removed — MiRealSource-MiMLS
• 2025-03-01 Listed $165,000 REALCOMP
• 2025-03-01 Listed $165,000 MiRealSource-MiMLS
• 2024-08-09 Listing Removed — REALCOMP
• 2024-08-09 Listing Removed — MiRealSource-MiMLS
• 2024-06-25 Relisted — MiRealSource-MiMLS
• 2024-06-20 Pending — MiRealSource-MiMLS
• 2024-06-12 Listed $165,000 REALCOMP
• 2024-06-12 Listed $165,000 MiRealSource-MiMLS
• 2024-02-13 Sold (Public Records) $149,900 Public Records
• 2024-02-09 Sold (MLS) $149,900 MiRealSource-MiMLS
• 2024-02-09 Sold (MLS) $149,900 REALCOMP
• 2024-02-09 Sold (MLS) $149,900 MiRealSource-MiMLS
• 2024-02-09 Sold (MLS) $149,900 REALCOMP
• 2024-01-30 Pending — REALCOMP
• 2024-01-30 Pending — MiRealSource-MiMLS
• 2024-01-30 Pending — MiRealSource-MiMLS
• 2024-01-05 Contingent — REALCOMP
• 2024-01-05 Contingent — MiRealSource-MiMLS
• 2024-01-05 Contingent — MiRealSource-MiMLS
• 2023-12-29 Listed $149,900 MiRealSource-MiMLS
• 2023-12-29 Listed $149,900 REALCOMP
• 2023-12-29 Listed $149,900 MiRealSource-MiMLS
• 2023-12-29 Listed $149,900 REALCOMP
• 2007-01-10 Listing Removed — MiRealSource-MiMLS
• 2006-08-16 Listed $97,000 MiRealSource-MiMLS
• 2005-06-16 Sold (MLS) $43,000 MiRealSource-MiMLS
• 2005-06-16 Sold (MLS) $43,000 REALCOMP
• 2005-06-08 Listing Removed — MiRealSource-MiMLS
• 2005-03-16 Listed $49,900 MiRealSource-MiMLS
• 2005-03-16 Listed $49,900 REALCOMP
• 2005-02-28 Listing Removed — MiRealSource-MiMLS
• 2005-02-28 Listing Removed — REALCOMP
• 2005-02-07 Listed $59,900 MiRealSource-MiMLS
• 2005-02-07 Listed $59,900 REALCOMP
• 2005-02-05 Listing Removed — MiRealSource-MiMLS
• 2005-02-05 Listing Removed — REALCOMP
• 2005-01-12 Listed $64,900 MiRealSource-MiMLS
• 2005-01-12 Listed $64,900 REALCOMP
• 2004-11-15 Listing Removed — MiRealSource-MiMLS
• 2004-11-15 Listing Removed — REALCOMP
• 2004-08-17 Listed $69,900 MiRealSource-MiMLS
• 2004-08-17 Listed $69,900 REALCOMP
• 2004-05-06 Listing Removed — REALCOMP
• 2004-05-06 Listing Removed — MiRealSource-MiMLS
• 2004-04-02 Listed $89,900 REALCOMP
• 2004-04-02 Listed $89,900 MiRealSource-MiMLS

Property tax history

+6.3%/yr

Latest (2025): $1,742 · -5.8% YoY. Source: county tax records.