10021 Clio Rd

Clio, MI 48420

$169,900D

3 bd · 2.0 ba · 1,568 sqft · Built 1936 · SingleFamily · Pending · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,300/mo
• Mortgage (P&I): −$891
• Tax + insurance: −$192
• HOA: −$0
• Vac / Maint / Mgmt: −$273
• Net cashflow: $-56/mo
• Annual: $-673/yr
• Cap rate: 5.90%
• Cash-on-cash: -1.42%
• DSCR: 0.94
• 1% rule: 0.77%
• Cash to close: $47,572

Investor read

• This is a 3-bed/2.0-bath single-family listed at $170k.
• At list price, monthly cash flow is $-56 ($-673/yr) — negative.
• To cash-flow at today's rent, offer at most $160k (5.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $130k (23.5% below list).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $130k (23.5% below list) — sets the bar for 1% rule.
• 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.
• Location reads 69/100 on livability (#332 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A-, crime B+; Watch: amenities F, commute F, employment F.
• Clio Area School District (suburban): math 27% / reading 44% proficiency, ranked #269 of 540 in MI (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Clio Middle School (math 22% / reading 42%, grade F, #317 of 493 statewide, top 65%, 552 students, 63% FRL); Clio Area High School (math 22% / reading 52%, grade F, #334 of 713 statewide, top 51%, 764 students, 53% FRL) — zoned schools average 58% FRL vs 42% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1936 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 154 active listings in the ZIP; 419 units permitted in Genesee County in 2024 (68 in 5+ unit buildings).
• Genesee County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 9 sale attempts since 28y 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.
• Cap rate 5.9% vs local median 4.7% in Clio — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Built in 1936 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.