512 Cole Street Rd · St. Charles, MI 48655

$69,900

2 bd · 1.0 ba · 979 sqft · SingleFamily · 1 Days on market

Built 1908 Fair condition 7,841 sqft lot Est $108k · 35% under

---

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 +26.6/30.0
• ARV discount +15.0/15.0
• DSCR +9.1/10.0
• 1% rule +7.2/10.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

This ranch style home features 2 bedrooms and 1 bathroom with a detached 1.5 car garage centrally located in St. Charles. House needs work. Full MI basement. Spacious backyard with firepit. Privacy fenced in yard, fence could use some repair. The property sits on a lot with convenient access to local amenities and outdoor recreation. The spacious backyard deck provides room for outdoor entertaining and relaxation. The home's location near M-52 offers easy highway access for commuting and travel. Nearby, the South Fork Bad River adds recreational opportunities for those who enjoy outdoor activities. All offers must be submitted by the buyer's agent using the online offer management

Key facts

• Spacious backyard
• Outdoor entertaining
• Full basement

Tags

• DETACHED GARAGE
• FULL BASEMENT
• SPACIOUS BACKYARD
• PRIVACY FENCED YARD
• OUTDOOR ENTERTAINING

Property features AI

Finance

• Other: Listing broker: All Star Real Estate Samborn & Associates
• HOA & community: Homeowners association; Subdivision: EV PARSONS

Exterior

• Parking: Detached garage (about 1.5 car)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Vinyl siding
• Exterior features: Lot dimensions approximately 78 x 100; Lot about 0.18 acres

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $188 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($850 rent vs $70k).

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• St. Charles Community Schools (rural): math 35% / reading 47% proficiency, ranked #196 of 540 in MI (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 32 active listings in the ZIP; 154 units permitted in Saginaw County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Saginaw County population projected at -25% 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 $20k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1908 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $69,900

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1908 — 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. 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.
5. 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.
6. 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: 1.22% ✓
• Cap rate: 9.52%
• Cash-on-cash: 11.53%
• DSCR: 1.51
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $107,690
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
510 W Hosmer St	0.16mi	2/1.5	956 (-2%)	11mo	$105,000	$110	77
508 Coal St	0.02mi	2/1.0	1,040 (+6%)	20mo	$34,000	$33	72
410 W Clinton St	0.24mi	3/1.0 (+1)	1,028 (+5%)	17mo	$30,500	$30	61
223 W Hosmer St	0.25mi	3/1.0 (+1)	1,100 (+12%)	2mo	$148,500	$135	61
117 E Maple St	0.68mi	3/1.0 (+1)	984 (+0%)	3mo	$36,000	$37	60
1201 Flint St	0.37mi	2/1.0	840 (-14%)	4mo	$135,000	$161	56
135 W Walnut St	0.71mi	3/1.0 (+1)	936 (-4%)	6mo	$140,000	$150	49
120 S Miami St	0.56mi	3/1.0 (+1)	1,090 (+11%)	1mo	$120,000	$110	49
403 Spruce St	0.54mi	3/1.0 (+1)	1,090 (+11%)	18mo	$129,900	$119	36

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: 0.9%
• Equity multiple: 1.03×
• Total profit: $666
• Equity at exit: $10,422

10-year hold

• IRR: 10.5%
• Equity multiple: 1.82×
• Total profit: $16,057
• Equity at exit: $6,044

Cash invested: $19,572 (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 48655

• Active inventory: 32
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $850 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$87 /mo · $1,048/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$178
• Net cashflow: $188

Break-even live

Break-even rent $611

Max offer price $69,900

Occupancy floor 73%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-09
   remarks 689-char remark
2. 2026-06-09
   listed $69,900 Active 1 DOM

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,195
• − Mortgage interest: −$3,915
• − Property taxes: −$1,048
• − Insurance: −$350
• − Repairs & maintenance: −$816
• − Management: −$816
• − Depreciation: −$2,033
• Taxable income: $1,217
• Est. tax owed @ 24.0%: −$292
• After-tax cash flow: $1,965/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 ranch-style home requires moderate renovations, focusing on the deck, fence, and garage door to improve its curb appeal and functionality.

Repairs flagged

• Major Deck — Significant wear and tear
• Major Fence — Overgrown and in need of repair
• Minor Garage door — Some wear

Value-add opportunities

• Resale Paint exterior — Enhances curb appeal
• Both Replace deck — Improves functionality and aesthetics
• Both Replace fence — Enhances privacy and safety
• Rental Replace garage door — Improves curb appeal and functionality

Renovation cost estimate screening

Repair item	Severity	Est. cost
Deck · Significant wear and tear	Major	$15,000–50,000
Fence · Overgrown and in need of repair	Major	$15,000–50,000
Garage door · Some wear	Minor	$500–3,000
Total estimated repair cost · 3 items		$30,500–103,000

Value-add ROI direction

• Resale Paint exterior — Enhances curb appeal ↑
• Both Replace deck — Improves functionality and aesthetics ↑
• Both Replace fence — Enhances privacy and safety ↑
• Rental Replace garage door — Improves curb appeal and functionality ↑

ⓘ 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: St. Charles Community Schools
• NCES district ID: 2632640
• Math proficiency: 35% ▼ -3.00%
• Reading proficiency: 47% ▼ -6.00%
• Median HH income: $49,744
• Composite: 35.25/100
• National rank: #4976
• State rank: #196 of 540 in MI

Livability — St. Charles

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

Census & demographics

• Census place: St. Charles, MI
• City population: 5,655
• Population (ZIP): 5,655

Population outlook (Saginaw County) Hauer SSP2

• Today (2025): 180,568 people
• By 2030: 172,302 · -4.6%
• By 2040: 153,919 · -14.8%
• By 2050: 135,519 · -24.9%
• By 2075: 97,199 · -46.2%
• By 2100: 65,037 · -64.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 7% Two or more races 4% Black 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Romanian 9% Lithuanian 6% Iranian 1%
• Foreign-born: 0%

Political lean MEDSL · Saginaw

• 2024 margin: Toss-up / Even · D 47.7% · R 51.0% · Other 1.4%
• 2008→2024 swing: -20.6pp toward R · 2008: 17.3pp · 2024: -3.3pp
• All cycles: 2024: R+3.3 2020: D+0.3 2016: R+1.1 2012: D+11.9 2008: D+17.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -138.51%
• Current HPI: 221.6423
• 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

1 event — show timeline

• 2026-06-03 Listed $69,900 REALCOMP