206 E 6th St · Marion, MI 49665

$85,000

4 bd · 1.0 ba · 2,400 sqft · SingleFamily · 94 Days on market

Built 1900 Fair condition 9,836 sqft lot $35/sqft · 61% 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
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.9/10.0
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

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

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $85k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $412 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $77k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.1% vs local median 3.0% 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: crime F, amenities F, commute 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.
• Zoned schools: Marion Elementary School (math 37% / reading 47%, grade F, #547 of 1,397 statewide, top 41%, 184 students, 80% FRL); Marion High School (math 17% / reading 42%, grade F, #441 of 713 statewide, top 64%, 235 students, 70% FRL) — zoned schools average 75% FRL vs 57% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 38 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 ($588 loan paydown + $8k 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 ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts; this cycle's ask has dropped $10k (11%) 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 $77,350 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.49% ✓
• Cap rate: 12.10%
• Cash-on-cash: 20.76%
• DSCR: 1.92
• GRM: 5.6

CMA / ARV

• ARV (median comp): $215,836
• List price: $85,000
• Delta: -60.62%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 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%)	8mo	$193,000	$80	76
3777 20 Mile Rd	0.94mi	3/2.0 (-1)	2,400 (0%)	4mo	$280,000	$117	52
419 5th St	0.20mi	3/2.0 (-1)	1,904 (-21%)	8mo	$285,000	$150	50
302 E Main St	0.28mi	4/2.0	2,210 (-8%)	30mo	$140,500	$64	50
202 W Main St	0.31mi	4/2.5	1,902 (-21%)	9mo	$218,000	$115	47
409 Fifth St	0.17mi	4/2.5	1,806 (-25%)	18mo	$215,000	$119	46
414 W Lane Ln	0.49mi	4/1.5	2,163 (-10%)	16mo	$260,500	$120	45
333 Eighth St	0.21mi	4/2.5	2,996 (+25%)	22mo	$208,000	$69	41
111 N Clark St	0.29mi	3/2.0 (-1)	1,824 (-24%)	19mo	$195,000	$107	36
502 W First	0.47mi	3/2.0 (-1)	2,629 (+10%)	30mo	$244,500	$93	33

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: 39.8%
• Equity multiple: 4.05×
• Total profit: $72,532
• Equity at exit: $76,575

10-year hold

• IRR: 34.3%
• Equity multiple: 9.11×
• Total profit: $193,014
• Equity at exit: $165,136

Cash invested: $23,800 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 1 active
• Months of supply: 6.0 mo (17%/mo absorbed)
• Median asking: $97,900 ($53/sqft)
• Median days on market: 2 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +70.4% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 49665

• Home prices YoY: 11.3%
• Active inventory: 38
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,265 medium
• Mortgage (P&I): −$446
• Tax est. 1.5%: −$106 /mo · $1,275/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $412

Break-even live

Break-even rent $744

Max offer price $85,000

Occupancy floor 62%

Sensitivity live

Price	-10% $470	-5% $441	+0% $412	+5% $382	+10% $353
Rent	-10% $312	-5% $362	+0% $412	+5% $462	+10% $512
Rate	-1.0pp $454	-0.5pp $433	base $412	+0.5pp $390	+1.0pp $367

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: $21,250
• Closing costs: $2,550
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Exterior

• Utilities: Public water
• Home design: Traditional single-family residenceResidential propertyApproximately 2,400 square feet of living area
• Construction: Built in 1900Vinyl sidingAsphalt roof
• Exterior features: 0.23-acre lot

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heatingWall furnace
• Interior features: 9 total roomsMichigan-style basement

Listing history 50 events

1. 2026-08-08
   days on market $85,000 Active 94 DOM
2. 2026-08-07
   days on market $85,000 Active 93 DOM
3. 2026-08-06
   days on market $85,000 Active 92 DOM
4. 2026-08-05
   days on market $85,000 Active 91 DOM
5. 2026-08-04
   days on market $85,000 Active 90 DOM
6. 2026-08-03
   days on market $85,000 Active 89 DOM
7. 2026-07-31
   days on market $85,000 Active 86 DOM
8. 2026-07-30
   days on market $85,000 Active 85 DOM
9. 2026-07-29
   days on market $85,000 Active 84 DOM
10. 2026-07-27
    days on market $85,000 Active 82 DOM
11. 2026-07-25
    days on market $85,000 Active 80 DOM
12. 2026-07-24
    days on market $85,000 Active 79 DOM
13. 2026-07-23
    days on market $85,000 Active 78 DOM
14. 2026-07-22
    days on market $85,000 Active 77 DOM
15. 2026-07-21
    days on market $85,000 Active 76 DOM
16. 2026-07-18
    days on market $85,000 Active 73 DOM
17. 2026-07-16
    days on market $85,000 Active 71 DOM
18. 2026-07-15
    days on market $85,000 Active 70 DOM
19. 2026-07-14
    days on market $85,000 Active 69 DOM
20. 2026-07-13
    days on market $85,000 Active 68 DOM
21. 2026-07-12
    days on market $85,000 Active 67 DOM
22. 2026-07-12
    days on market $85,000 Active 66 DOM
23. 2026-07-10
    days on market $85,000 Active 65 DOM
24. 2026-07-09
    days on market $85,000 Active 64 DOM
25. 2026-07-07
    days on market $85,000 Active 62 DOM
26. 2026-07-06
    days on market $85,000 Active 61 DOM
27. 2026-07-05
    days on market $85,000 Active 60 DOM
28. 2026-07-05
    days on market $85,000 Active 59 DOM
29. 2026-07-03
    days on market $85,000 Active 58 DOM
30. 2026-07-02
    pricedays on market $85,000 Active 57 DOM
31. 2026-07-01
    days on market $87,000 Active 56 DOM
32. 2026-06-30
    days on market $87,000 Active 55 DOM
33. 2026-06-29
    days on market $87,000 Active 54 DOM
34. 2026-06-28
    days on market $87,000 Active 53 DOM
35. 2026-06-27
    days on market $87,000 Active 52 DOM
36. 2026-06-26
    days on market $87,000 Active 50 DOM
37. 2026-06-22
    days on market $87,000 Active 47 DOM
38. 2026-06-21
    days on market $87,000 Active 46 DOM
39. 2026-06-21
    days on market $87,000 Active 45 DOM
40. 2026-06-18
    days on market $87,000 Active 43 DOM
41. 2026-06-17
    days on market $87,000 Active 42 DOM
42. 2026-06-16
    days on market $87,000 Active 41 DOM
43. 2026-06-15
    days on market $87,000 Active 40 DOM
44. 2026-06-13
    days on market $87,000 Active 38 DOM
45. 2026-06-12
    days on market $87,000 Active 37 DOM
46. 2026-06-09
    days on market $87,000 Active 34 DOM
47. 2026-06-08
    days on market $87,000 Active 33 DOM
48. 2026-06-07
    days on market $87,000 Active 32 DOM
49. 2026-06-05
    days on market $87,000 Active 30 DOM
50. 2026-06-04
    days on market $87,000 Active 28 DOM

ⓘ 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: $15,176
• − Mortgage interest: −$4,761
• − Property taxes: −$1,275
• − Insurance: −$425
• − Repairs & maintenance: −$1,214
• − Management: −$1,214
• − Depreciation: −$2,473
• Taxable income: $3,814
• Est. tax owed @ 24.0%: −$915
• After-tax cash flow: $4,025/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.

Condition & rehab AI · 9 photos

Fair 45/100 Moderate rehab Est. rehab $60,000–$108,000 screening

This fixer-upper home requires moderate renovations to its exterior and interior, with a focus on painting and replacing dated fixtures and flooring. The home has a good roof and stable foundation, making it a good investment opportunity.

Deferred maintenance Est. $60,000–$180,000 screening

• Major Roof (roof) — No roof visible in photos
• Major Windows (windows) — No windows visible in photos
• Major Electrical (electrical) — No electrical panel visible in photos
• Major Plumbing (plumbing) — No plumbing fixtures visible in photos
• Major Exterior (exterior) — No exterior walls or siding visible in photos
• Major Other — No other components visible in photos

Repairs flagged

• Moderate Exterior siding — Weathered and needs repainting
• Moderate Kitchen cabinets — Dated and worn
• Moderate Bathroom fixtures — Dated and worn
• Moderate Flooring — Worn and needs replacement

Value-add opportunities

• Resale Painting exterior siding — Fresh paint can significantly improve curb appeal ↑
• Resale Painting interior walls — Fresh paint can improve the home's appearance and value ↑
• Both Replacing kitchen cabinets — Modern cabinets can increase both resale and rental value ↑
• Both Replacing bathroom fixtures — Modern fixtures can increase both resale and rental value ↑
• Both Replacing flooring — New flooring can improve the home's appearance and increase both resale and rental value ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 36/100

Zoned Schools

Elementary Marion Elementary School F MI #547/1,397 Nat'l #17,861/41,679 High Marion High School F MI #441/713 Nat'l #11,215/17,239

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

D Composite livability gradescore 59/100

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
• County: Osceola · 21,724 people
• Population (ZIP): 4,022
• Household income: $51,125
• Rent vs Own: 13.0% rent · 87.0% own
• Severe rent burden: 2% of renters

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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%

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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%

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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

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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

Property features AI

Exterior

• Utilities: Public water
• Home design: Traditional single-family residenceResidential propertyApproximately 2,400 square feet of living area
• Construction: Built in 1900Vinyl sidingAsphalt roof
• Exterior features: 0.23-acre lot

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heatingWall furnace
• Interior features: 9 total roomsMichigan-style basement

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