161 Spruce Dr · Jonesville, MI 49250

$49,500

2 bd · 1.5 ba · 1,152 sqft · SingleFamily · 78 Days on market

Built 1979 Fair condition 4,650 sqft lot $43/sqft · 56% below area

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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
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This lovely home features a covered front and back porches, enclosed three season sunroom, new windows. Enjoy the security and quiet of this mature Jonesville, MI retirement community. Evergreen Estates offers a friendly, country neighborhood atmosphere, combined with all the advantages and amenities of its surrounding towns and cities. Yet as far removed from the every day as it may feel, Evergreen Estates is remarkably accessible to a wealth of shopping, medical care, entertainment, and recreational opportunities. With an attractive clubhouse at the heart of the community, Evergreen Estates is a place where activities are enjoyed, neighbors become friends, and memories are made.

Key facts

• Attractive clubhouse
• New windows
• 4,650 sq ft lot

Tags

• COVERED FRONT AND BACK PORCHES
• ENCLOSED THREE SEASON SUNROOM
• NEW WINDOWS
• ATTRACTIVE CLUBHOUSE

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $50k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $472 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $47k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#267 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, amenities F, commute F.
• Jonesville Community Schools (rural): math 29% / reading 40% proficiency, ranked #297 of 540 in MI (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 25 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 72 units permitted in Hillsdale County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $342 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Hillsdale County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $3k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $46,530 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% 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 1979 — 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. 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: 2.08% ✓
• Cap rate: 17.75%
• Cash-on-cash: 40.90%
• DSCR: 2.82
• GRM: 4.0

CMA / ARV

• ARV (median comp): $111,329
• List price: $49,500
• Delta: -55.54%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
616 Holly Ct	0.03mi	2/2.0	1,222 (+6%)	4mo	$69,900	$57	83
608 Holly Ct	0.02mi	2/1.0	1,104 (-4%)	18mo	$57,000	$52	75
400 Beck St	0.69mi	3/1.0 (+1)	1,220 (+6%)	20mo	$140,000	$115	34
402 Beck St	0.72mi	3/2.0 (+1)	1,296 (+12%)	18mo	$105,000	$81	23

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: 37.4%
• Equity multiple: 2.59×
• Total profit: $22,082
• Equity at exit: $7,381

10-year hold

• IRR: 44.0%
• Equity multiple: 5.19×
• Total profit: $58,035
• Equity at exit: $4,280

Cash invested: $13,860 (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 49250

• Home prices YoY: -22.2%
• Active inventory: 25
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,031 medium
• Mortgage (P&I): −$260
• Tax est. 1.5%: −$62 /mo · $742/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$217
• Net cashflow: $472

Break-even live

Break-even rent $433

Max offer price $49,500

Occupancy floor 49%

Sensitivity live

Price	-10% $507	-5% $490	+0% $472	+5% $455	+10% $438
Rent	-10% $391	-5% $432	+0% $472	+5% $513	+10% $554
Rate	-1.0pp $497	-0.5pp $485	base $472	+0.5pp $460	+1.0pp $447

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: $12,375
• Closing costs: $1,485
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
117 West St Jonesville, MI	2.0	1.0	1100	$1,031	$0.94	45d	1	0.86mi

Listing history 18 events

1. 2026-06-19
   days on market $49,500 Active 78 DOM
2. 2026-06-18
   days on market $49,500 Active 77 DOM
3. 2026-06-17
   days on market $49,500 Active 76 DOM
4. 2026-06-16
   days on market $49,500 Active 75 DOM
5. 2026-06-15
   days on market $49,500 Active 74 DOM
6. 2026-06-14
   days on market $49,500 Active 72 DOM
7. 2026-06-12
   days on market $49,500 Active 71 DOM
8. 2026-06-09
   days on market $49,500 Active 68 DOM
9. 2026-06-08
   days on market $49,500 Active 67 DOM
10. 2026-06-07
    days on market $49,500 Active 66 DOM
11. 2026-06-07
    days on market $49,500 Active 65 DOM
12. 2026-06-04
    days on market $49,500 Active 62 DOM
13. 2026-06-02
    days on market $49,500 Active 61 DOM
14. 2026-06-01
    days on market $49,500 Active 60 DOM
15. 2026-05-31
    days on market $49,500 Active 59 DOM
16. 2026-05-31
    days on market $49,500 Active 58 DOM
17. 2026-04-01
    listed $52,500 Active 689-char remark

    Show marketing remark (689 chars)

    This lovely home features a covered front and back porches, enclosed three season sunroom, new windows. Enjoy the security and quiet of this mature Jonesville, MI retirement community. Evergreen Estates offers a friendly, country neighborhood atmosphere, combined with all the advantages and amenities of its surrounding towns and cities. Yet as far removed from the every day as it may feel, Evergreen Estates is remarkably accessible to a wealth of shopping, medical care, entertainment, and recreational opportunities. With an attractive clubhouse at the heart of the community, Evergreen Estates is a place where activities are enjoyed, neighbors become friends, and memories are made.

18. 2026-04-01
    listed $52,500 Active 689-char remark

    Show marketing remark (689 chars)

    This lovely home features a covered front and back porches, enclosed three season sunroom, new windows. Enjoy the security and quiet of this mature Jonesville, MI retirement community. Evergreen Estates offers a friendly, country neighborhood atmosphere, combined with all the advantages and amenities of its surrounding towns and cities. Yet as far removed from the every day as it may feel, Evergreen Estates is remarkably accessible to a wealth of shopping, medical care, entertainment, and recreational opportunities. With an attractive clubhouse at the heart of the community, Evergreen Estates is a place where activities are enjoyed, neighbors become friends, and memories are made.

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,372
• − Mortgage interest: −$2,773
• − Property taxes: −$742
• − Insurance: −$248
• − Repairs & maintenance: −$990
• − Management: −$990
• − Depreciation: −$1,440
• Taxable income: $5,190
• Est. tax owed @ 24.0%: −$1,246
• After-tax cash flow: $4,423/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 · 12 photos

Fair 45/100 Moderate rehab

This home requires moderate repairs and maintenance to improve its condition and value. Painting the exterior and replacing the carpet would significantly enhance its curb appeal and rental value.

Repairs flagged

• Moderate exterior siding — Weathered and discolored
• Minor interior walls — Some scuff marks

Value-add opportunities

• Both paint exterior — Enhances curb appeal and value
• Both replace carpet — Fresh carpet improves comfort and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Weathered and discolored	Moderate	$3,000–15,000
interior walls · Some scuff marks	Minor	$500–3,000
Total estimated repair cost · 2 items		$3,500–18,000

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and value ↑
• Both replace carpet — Fresh carpet improves comfort and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Jonesville Community Schools
• NCES district ID: 2619920
• Math proficiency: 29% ▬ 0.00%
• Reading proficiency: 40% ▲ 1.00%
• Median HH income: $45,333
• Composite: 29.45/100
• National rank: #6514
• State rank: #297 of 540 in MI

Livability — Jonesville

• Score: 71/100
• State rank: #267
• US rank: #6589

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jonesville, MI
• Population (ZIP): 5,674

Population outlook (Hillsdale County) Hauer SSP2

• Today (2025): 43,704 people
• By 2030: 41,996 · -3.9%
• By 2040: 38,019 · -13.0%
• By 2050: 34,095 · -22.0%
• By 2075: 25,897 · -40.7%
• By 2100: 18,746 · -57.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 2% Two or more races 2%
• Common ancestry: Romanian 4% Lithuanian 2% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Hillsdale

• 2024 margin: Solid R (+51.4) · D 23.7% · R 75.1% · Other 1.2%
• 2008→2024 swing: -39.4pp toward R · 2008: -12.0pp · 2024: -51.4pp
• All cycles: 2024: R+51.4 2020: R+47.9 2016: R+46.8 2012: R+24.2 2008: R+12.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -63.46%
• Current HPI: 221.7044
• 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

+0.0% since first listed

2 events — show timeline

• 2026-04-01 Listed $52,500 MiRealSource-MiMLS
• 2026-04-01 Listed $52,500 REALCOMP