869 Trey Rdg

Raisinville, MI 48161

$65,900D+

3 bd · 2.0 ba · 2,100 sqft · Built 2002 · Other · Pending · 43 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,466/mo
• Mortgage (P&I): −$346
• Tax + insurance: −$110
• HOA: −$675
• Vac / Maint / Mgmt: −$308
• Net cashflow: $28/mo
• Annual: $332/yr
• Cap rate: 6.80%
• Cash-on-cash: 1.80%
• DSCR: 1.08
• 1% rule: 2.22%
• Cash to close: $18,452

Investor read

• This is a 3-bed/2.0-bath other listed at $66k.
• At list price, monthly cash flow is $28 ($332/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $66k).
• It's been on market 43 days — a 3% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $64k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $456 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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.
• Watch-outs: HOA is 46% of rent.
• Market conditions: 142 active listings in the ZIP; 264 units permitted in Monroe County in 2024 (40 in 5+ unit buildings).
• Monroe County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 10 sale attempts since 8y 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.

Questions for listing agent

• It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.