206 E 6th St · Marion, MI 49665

$87,000

4 bd · 1.0 ba · 2,400 sqft · SingleFamily · 43 Days on market

Built 1900 9,836 sqft lot $36/sqft · 58% below area ↓ 8% since listing

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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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.8/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Fixer upper - Large home with four bedrooms, 1 bath plus a bonus room. Nice lot fenced backyard. Exterior is in decent condition interior needs remodeling. Seller is a licensed real estate broker in the State of Michigan.

Key facts

• Bonus room
• Fenced backyard
• 9,836 sq ft lot

Tags

• FENCED BACKYARD
• BONUS ROOM

Property features AI

Exterior

• Utilities: Public water
• Home design: Traditional single-family residence; Residential property; Approximately 2,400 square feet of living area
• Construction: Built in 1900; Vinyl siding; Asphalt roof
• Exterior features: 0.23-acre lot

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Wall furnace
• Interior features: 9 total rooms; Michigan-style basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $87k.

Deal economics

• At list price, monthly cash flow is $429 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $87k).
• Recommended offer: $84k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.2% vs local median 3.1% in Marion — 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 59/100 on livability (#607 in MI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: schools D+, crime F, amenities F.
• Marion Public Schools (rural): math 33% / reading 53% proficiency, ranked #328 of 760 in MI (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 33 active listings in the ZIP; 5 units permitted in Osceola County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($601 loan paydown + $9k appreciation (10.0% local appreciation)).
• Osceola County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts; this cycle's ask has dropped $8k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $84,390 (3.0% below list)

Questions for the listing agent

1. 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?
2. Built in 1900 — 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 F 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: 1.50% ✓
• Cap rate: 12.20%
• Cash-on-cash: 21.11%
• DSCR: 1.94
• GRM: 5.6

CMA / ARV

• ARV (median comp): $207,501
• List price: $87,000
• Delta: -58.07%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
204 N Carland St	0.18mi	5/2.0 (+1)	2,400 (0%)	6mo	$193,000	$80	77
414 W Lane Ln	0.49mi	4/1.5	2,163 (-10%)	15mo	$260,500	$120	47

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 40.1%
• Equity multiple: 4.07×
• Total profit: $74,701
• Equity at exit: $78,376

10-year hold

• IRR: 34.5%
• Equity multiple: 9.15×
• Total profit: $198,553
• Equity at exit: $169,022

Cash invested: $24,360 (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 49665

• Home prices YoY: 11.3%
• Active inventory: 33
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,304 medium
• Mortgage (P&I): −$456
• Tax est. 1.5%: −$109 /mo · $1,305/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $429

Break-even live

Break-even rent $761

Max offer price $87,000

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: $21,750
• Closing costs: $2,610
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-18
   days on market $87,000 Active 43 DOM
2. 2026-06-17
   days on market $87,000 Active 42 DOM
3. 2026-06-16
   days on market $87,000 Active 41 DOM
4. 2026-06-15
   days on market $87,000 Active 40 DOM
5. 2026-06-13
   days on market $87,000 Active 38 DOM
6. 2026-06-12
   days on market $87,000 Active 37 DOM
7. 2026-06-09
   days on market $87,000 Active 34 DOM
8. 2026-06-08
   days on market $87,000 Active 33 DOM
9. 2026-06-07
   days on market $87,000 Active 32 DOM
10. 2026-06-05
    days on market $87,000 Active 30 DOM
11. 2026-06-04
    days on market $87,000 Active 28 DOM
12. 2026-06-02
    days on market $87,000 Active 27 DOM
13. 2026-06-01
    days on market $87,000 Active 26 DOM
14. 2026-05-31
    days on market $87,000 Active 25 DOM
15. 2026-05-31
    days on market $87,000 Active 24 DOM
16. 2026-05-13
    price $92,000 221-char remark

    Show marketing remark (221 chars)

    Fixer upper - Large home with four bedrooms, 1 bath plus a bonus room. Nice lot fenced backyard. Exterior is in decent condition interior needs remodeling. Seller is a licensed real estate broker in the State of Michigan.

17. 2026-05-13
    price $92,000 221-char remark

    Show marketing remark (221 chars)

    Fixer upper - Large home with four bedrooms, 1 bath plus a bonus room. Nice lot fenced backyard. Exterior is in decent condition interior needs remodeling. Seller is a licensed real estate broker in the State of Michigan.

18. 2026-05-12
    price $92,000

    Show marketing remark (221 chars)

    Fixer upper - Large home with four bedrooms, 1 bath plus a bonus room. Nice lot fenced backyard. Exterior is in decent condition interior needs remodeling. Seller is a licensed real estate broker in the State of Michigan.

19. 2026-05-12
    status Active 221-char remark

    Show marketing remark (221 chars)

    Fixer upper - Large home with four bedrooms, 1 bath plus a bonus room. Nice lot fenced backyard. Exterior is in decent condition interior needs remodeling. Seller is a licensed real estate broker in the State of Michigan.

20. 2026-05-12
    status Active 221-char remark

    Show marketing remark (221 chars)

    Fixer upper - Large home with four bedrooms, 1 bath plus a bonus room. Nice lot fenced backyard. Exterior is in decent condition interior needs remodeling. Seller is a licensed real estate broker in the State of Michigan.

21. 2026-05-12
    status Active

    Show marketing remark (221 chars)

    Fixer upper - Large home with four bedrooms, 1 bath plus a bonus room. Nice lot fenced backyard. Exterior is in decent condition interior needs remodeling. Seller is a licensed real estate broker in the State of Michigan.

22. 2026-05-12
    historical

    Show marketing remark (221 chars)

    Fixer upper - Large home with four bedrooms, 1 bath plus a bonus room. Nice lot fenced backyard. Exterior is in decent condition interior needs remodeling. Seller is a licensed real estate broker in the State of Michigan.

23. 2026-05-12
    historical 221-char remark

    Show marketing remark (221 chars)

    Fixer upper - Large home with four bedrooms, 1 bath plus a bonus room. Nice lot fenced backyard. Exterior is in decent condition interior needs remodeling. Seller is a licensed real estate broker in the State of Michigan.

24. 2026-05-12
    historical 221-char remark

    Show marketing remark (221 chars)

    Fixer upper - Large home with four bedrooms, 1 bath plus a bonus room. Nice lot fenced backyard. Exterior is in decent condition interior needs remodeling. Seller is a licensed real estate broker in the State of Michigan.

25. 2026-05-06
    listed $95,000 Active 221-char remark

    Show marketing remark (221 chars)

    Fixer upper - Large home with four bedrooms, 1 bath plus a bonus room. Nice lot fenced backyard. Exterior is in decent condition interior needs remodeling. Seller is a licensed real estate broker in the State of Michigan.

26. 2026-05-06
    listed $95,000 Active 221-char remark

    Show marketing remark (221 chars)

    Fixer upper - Large home with four bedrooms, 1 bath plus a bonus room. Nice lot fenced backyard. Exterior is in decent condition interior needs remodeling. Seller is a licensed real estate broker in the State of Michigan.

27. 2026-05-06
    listed $95,000 Active

    Show marketing remark (221 chars)

    Fixer upper - Large home with four bedrooms, 1 bath plus a bonus room. Nice lot fenced backyard. Exterior is in decent condition interior needs remodeling. Seller is a licensed real estate broker in the State of Michigan.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $15,643
• − Mortgage interest: −$4,873
• − Property taxes: −$1,305
• − Insurance: −$435
• − Repairs & maintenance: −$1,251
• − Management: −$1,251
• − Depreciation: −$2,531
• Taxable income: $3,996
• Est. tax owed @ 24.0%: −$959
• After-tax cash flow: $4,184/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: Marion Public Schools
• NCES district ID: 2622800
• Math proficiency: 33% ▲ 16.00%
• Reading proficiency: 53% ▲ 31.00%
• Median HH income: $35,461
• Composite: 37.86/100
• National rank: #8710
• State rank: #328 of 760 in MI

Livability — Marion

• Score: 59/100
• State rank: #607
• US rank: #20314

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marion, MI
• Population (ZIP): 4,022

Population outlook (Osceola County) Hauer SSP2

• Today (2025): 21,724 people
• By 2030: 20,769 · -4.4%
• By 2040: 18,720 · -13.8%
• By 2050: 16,611 · -23.5%
• By 2075: 11,942 · -45.0%
• By 2100: 7,546 · -65.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Iranian 11% Romanian 3% Lithuanian 2%
• Foreign-born: 0%
• Languages at home: 94% English-only · German/W. Germanic 5% Spanish 1%

Political lean MEDSL · Osceola

• 2024 margin: Solid R (+47.9) · D 25.2% · R 73.1% · Other 1.7%
• 2008→2024 swing: -37.7pp toward R · 2008: -10.1pp · 2024: -47.9pp
• All cycles: 2024: R+47.9 2020: R+46.3 2016: R+43.7 2012: R+21.0 2008: R+10.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 26.88%
• Current HPI: 264.0932
• 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

-8.4% since first listed

15 events — show timeline

• 2026-05-25 Price Changed $87,000 MiRealSource-MiMLS
• 2026-05-24 Price Changed $87,000 REALCOMP
• 2026-05-24 Price Changed $87,000 SW Michigan MLS
• 2026-05-13 Price Changed $92,000 MiRealSource-MiMLS
• 2026-05-13 Price Changed $92,000 REALCOMP
• 2026-05-12 Price Changed $92,000 SW Michigan MLS
• 2026-05-12 Relisted — REALCOMP
• 2026-05-12 Relisted — MiRealSource-MiMLS
• 2026-05-12 Relisted — SW Michigan MLS
• 2026-05-12 Listing Removed — SW Michigan MLS
• 2026-05-12 Listing Removed — REALCOMP
• 2026-05-12 Listing Removed — MiRealSource-MiMLS
• 2026-05-06 Listed $95,000 SW Michigan MLS
• 2026-05-06 Listed $95,000 REALCOMP
• 2026-05-06 Listed $95,000 MiRealSource-MiMLS