6555 Pipestone St · Pipestone, MI 49111

$95,000

3 bd · 1.0 ba · 1,032 sqft · SingleFamily public records · 122 Days on market

Built 1860 10,826 sqft lot $92/sqft · 46% below area Est $175k · 46% under

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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 +26.1/30.0
• ARV discount +15.0/15.0
• DSCR +8.8/10.0
• 1% rule +6.4/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Key facts

• 0.25 acre lot
• 2 garage spots
• Built 1860

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $240 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Eau Claire Public Schools (rural): math 9% / reading 20% proficiency, ranked #496 of 540 in MI (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 17 active listings in the ZIP; 397 units permitted in Berrien County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Berrien County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 122 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $14k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $33k; list at $95k implies a 188% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1860 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $83,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 122 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1860 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.14% ✓
• Cap rate: 9.32%
• Cash-on-cash: 10.81%
• DSCR: 1.48
• GRM: 7.3

CMA / ARV

• ARV (median comp): $175,309
• List price: $95,000
• Delta: -45.81%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6731 Old Pipestone Rd	0.64mi	2/1.0 (-1)	1,120 (+8%)	17mo	$203,000	$181	37

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: -0.1%
• Equity multiple: 0.99×
• Total profit: $-142
• Equity at exit: $14,165

10-year hold

• IRR: 9.5%
• Equity multiple: 1.73×
• Total profit: $19,493
• Equity at exit: $8,214

Cash invested: $26,600 (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 49111

• Home prices YoY: -22.5%
• Active inventory: 17
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,084 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$79 /mo · $947/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $240

Break-even live

Break-even rent $781

Max offer price $95,000

Occupancy floor 73%

Sensitivity live

Price	-10% $293	-5% $266	+0% $240	+5% $213	+10% $186
Rent	-10% $154	-5% $197	+0% $240	+5% $282	+10% $325
Rate	-1.0pp $287	-0.5pp $264	base $240	+0.5pp $215	+1.0pp $190

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $95,000 Active 122 DOM
2. 2026-06-18
   days on market $95,000 Active 120 DOM
3. 2026-06-17
   days on market $95,000 Active 119 DOM
4. 2026-06-17
   price $95,000 Active 118 DOM
5. 2026-06-16
   days on market $99,000 Active 118 DOM
6. 2026-06-15
   days on market $99,000 Active 117 DOM
7. 2026-06-13
   days on market $99,000 Active 115 DOM
8. 2026-06-12
   days on market $99,000 Active 114 DOM
9. 2026-06-09
   days on market $99,000 Active 111 DOM
10. 2026-06-08
    days on market $99,000 Active 110 DOM
11. 2026-06-07
    days on market $99,000 Active 109 DOM
12. 2026-06-05
    days on market $99,000 Active 107 DOM
13. 2026-06-04
    days on market $99,000 Active 105 DOM
14. 2026-06-02
    days on market $99,000 Active 104 DOM
15. 2026-06-01
    days on market $99,000 Active 103 DOM
16. 2026-05-31
    days on market $99,000 Active 102 DOM
17. 2026-05-31
    days on market $99,000 Active 101 DOM
18. 2026-03-12
    price $104,000
19. 2026-03-11
    price $104,000
20. 2026-03-11
    price $104,000
21. 2026-02-18
    listed $109,000 Active
22. 2026-02-18
    listed $109,000 Active
23. 2026-02-18
    listed $109,000 Active
24. 2018-03-09
    soldstatus $33,000

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

Tax reassessment forecast MI · Partial reset (capped growth)

• Current annual tax: $947 · $79/mo
• Projected year-2 tax: $1,205 · $100/mo
• Expected delta: +$258/yr (+$22/mo · 27.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,006
• − Mortgage interest: −$5,321
• − Property taxes: −$947
• − Insurance: −$475
• − Repairs & maintenance: −$1,041
• − Management: −$1,041
• − Depreciation: −$2,764
• Taxable income: $1,419
• Est. tax owed @ 24.0%: −$340
• After-tax cash flow: $2,535/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: Eau Claire Public Schools
• NCES district ID: 2612810
• Math proficiency: 9% ▼ -4.00%
• Reading proficiency: 20% ▼ -3.00%
• Median HH income: $49,633
• Composite: 13.28/100
• National rank: #9543
• State rank: #496 of 540 in MI

Livability — Pipestone

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Eau Claire, MI
• Population (ZIP): 3,121

Population outlook (Berrien County) Hauer SSP2

• Today (2025): 149,273 people
• By 2030: 145,211 · -2.7%
• By 2040: 135,435 · -9.3%
• By 2050: 125,543 · -15.9%
• By 2075: 103,986 · -30.3%
• By 2100: 82,256 · -44.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 12% Two or more races 4% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Lithuanian 7% Romanian 5% Italian 3%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 88% English-only · Spanish 9% Korean 2%

Political lean MEDSL · Berrien

• 2024 margin: Lean R (+7.9) · D 45.4% · R 53.2% · Other 1.4%
• 2008→2024 swing: -13.3pp toward R · 2008: 5.5pp · 2024: -7.9pp
• All cycles: 2024: R+7.9 2020: R+7.4 2016: R+12.7 2012: R+6.6 2008: D+5.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -65.65%
• Current HPI: 226.6242
• 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

+215.2% since first listed

7 events — show timeline

• 2026-03-12 Price Changed $104,000 MiRealSource-MiMLS
• 2026-03-11 Price Changed $104,000 REALCOMP
• 2026-03-11 Price Changed $104,000 SW Michigan MLS
• 2026-02-18 Listed $109,000 SW Michigan MLS
• 2026-02-18 Listed $109,000 REALCOMP
• 2026-02-18 Listed $109,000 MiRealSource-MiMLS
• 2018-03-09 Sold (Public Records) $33,000 Public Records

Property tax history

-0.7%/yr

Latest (2024): $947 · -2.5% YoY. Source: county tax records.