20128 Marcellus Hwy · Volinia, MI 49045

$119,900

2 bd · 1.0 ba · 1,780 sqft · SingleFamily public records · 73 Days on market

Built 1905 1.46 ac lot $67/sqft · 65% below area

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Why this score? — see what drove the D+ 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 +18.3/30.0
• ARV discount +7.5/15.0
• DSCR +5.7/10.0
• 1% rule +3.8/10.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Across the street from Russ Forest you will find this 2 bedroom home, with a woodstove, pole barn, and a little under 1 ½ acres waiting for you to make it yours. Selling AS-IS. Proof of funds or pre-approval letter is required with offer. Buyer or buyer's agent to verify all information. There are two parcels. Purchasers may use any lender they chose to finance the purchase of the property. Seller requires that all NON-CASH offers must be pre-qualified by New Rez Home Loan Division prior to offer acceptance. 1% EMD/Minimum $1,000. For all offers. Buyer to close with Sellers Title in order to facilitate a quicker close. Seller to pay title insurance ONLY IF seller's attorney conducts closing. For the free pre-qualification, contact Eric Gutierrez at 847-276-1452 or [email protected].

Key facts

• 1.46 acre lot
• Built 1905
• Listed 72 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $110 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $105k (12.1% below list).
• Recommended offer: $105k (12.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Marcellus Community Schools (rural): math 25% / reading 38% proficiency, ranked #332 of 540 in MI (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 35 active listings in the ZIP; 128 units permitted in Cass County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Cass County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.
• Current owner paid $74k; list at $120k implies a 61% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,421 (12.1% below list)

Questions for the listing agent

1. It's been on market 73 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 1905 — 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. 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?
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: 0.88% ✗
• Cap rate: 7.39%
• Cash-on-cash: 3.93%
• DSCR: 1.17
• GRM: 9.5

CMA / ARV

• ARV (median comp): $291,769
• List price: $119,900
• Delta: -58.91%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -10.2%
• Equity multiple: 0.63×
• Total profit: $-12,478
• Equity at exit: $17,877

10-year hold

• IRR: -0.9%
• Equity multiple: 0.94×
• Total profit: $-2,050
• Equity at exit: $10,367

Cash invested: $33,572 (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 49045

• Home prices YoY: -25.1%
• Active inventory: 35
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,054 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$44 /mo · $530/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $110

Break-even live

Break-even rent $915

Max offer price $119,900

Occupancy floor 85%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $119,900 Active 73 DOM
2. 2026-06-17
   days on market $119,900 Active 72 DOM
3. 2026-06-16
   days on market $119,900 Active 71 DOM
4. 2026-06-16
   status $119,900 Active 70 DOM
5. 2026-06-07
   statusdays on market $119,900 Pending 70 DOM
6. 2026-06-04
   days on market $119,900 Active 69 DOM
7. 2026-06-02
   days on market $119,900 Active 68 DOM
8. 2026-06-01
   days on market $119,900 Active 67 DOM
9. 2026-05-31
   days on market $119,900 Active 66 DOM
10. 2026-05-31
    days on market $119,900 Active 65 DOM
11. 2026-03-26
    listed $119,900 Active 809-char remark

    Show marketing remark (804 chars)

    Across the street from Russ Forest you will find this 2 bedroom home, with a woodstove, pole barn, and a little under 1 1/2 acres waiting for you to make it yours. Selling AS-IS. Proof of funds or pre-approval letter is required with offer. Buyer or buyer's agent to verify all information. There are two parcels. Purchasers may use any lender they chose to finance the purchase of the property. Seller requires that all NON-CASH offers must be pre-qualified by New Rez Home Loan Division prior to offer acceptance. 1% EMD/Minimum $1,000. For all offers. Buyer to close with Sellers Title in order to facilitate a quicker close. Seller to pay title insurance ONLY IF seller's attorney conducts closing. For the free pre-qualification, contact Eric Gutierrez at 847-276-1452 or eric. [email protected].

12. 2026-03-26
    listed $119,900 Active 804-char remark

    Show marketing remark (804 chars)

    Across the street from Russ Forest you will find this 2 bedroom home, with a woodstove, pole barn, and a little under 1 1/2 acres waiting for you to make it yours. Selling AS-IS. Proof of funds or pre-approval letter is required with offer. Buyer or buyer's agent to verify all information. There are two parcels. Purchasers may use any lender they chose to finance the purchase of the property. Seller requires that all NON-CASH offers must be pre-qualified by New Rez Home Loan Division prior to offer acceptance. 1% EMD/Minimum $1,000. For all offers. Buyer to close with Sellers Title in order to facilitate a quicker close. Seller to pay title insurance ONLY IF seller's attorney conducts closing. For the free pre-qualification, contact Eric Gutierrez at 847-276-1452 or eric. [email protected].

13. 2026-03-26
    listed $119,900 Active

    Show marketing remark (804 chars)

    Across the street from Russ Forest you will find this 2 bedroom home, with a woodstove, pole barn, and a little under 1 1/2 acres waiting for you to make it yours. Selling AS-IS. Proof of funds or pre-approval letter is required with offer. Buyer or buyer's agent to verify all information. There are two parcels. Purchasers may use any lender they chose to finance the purchase of the property. Seller requires that all NON-CASH offers must be pre-qualified by New Rez Home Loan Division prior to offer acceptance. 1% EMD/Minimum $1,000. For all offers. Buyer to close with Sellers Title in order to facilitate a quicker close. Seller to pay title insurance ONLY IF seller's attorney conducts closing. For the free pre-qualification, contact Eric Gutierrez at 847-276-1452 or eric. [email protected].

14. 2025-07-17
    soldstatus $74,277
15. 2021-12-20
    soldstatus $73,000
16. 2011-10-28
    soldstatus $80,000
17. 2006-12-16
    soldstatus $80,100
18. 2006-11-21
    soldstatus $80,000

ⓘ 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: $530 · $44/mo
• Projected year-2 tax: $1,188 · $99/mo
• Expected delta: +$658/yr (+$55/mo · 124.1%)

ⓘ 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 · 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: $12,651
• − Mortgage interest: −$6,716
• − Property taxes: −$530
• − Insurance: −$600
• − Repairs & maintenance: −$1,012
• − Management: −$1,012
• − Depreciation: −$3,488
• Taxable loss: −$708
• Est. tax savings @ 24.0%: +$170
• After-tax cash flow: $1,489/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: Marcellus Community Schools
• NCES district ID: 2622740
• Math proficiency: 25% ▼ -8.00%
• Reading proficiency: 38% ▼ -6.00%
• Median HH income: $49,318
• Composite: 27.33/100
• National rank: #6988
• State rank: #332 of 540 in MI

Livability — Volinia

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

Census & demographics

• Population (ZIP): 5,109

Population outlook (Cass County) Hauer SSP2

• Today (2025): 49,919 people
• By 2030: 48,320 · -3.2%
• By 2040: 44,230 · -11.4%
• By 2050: 39,852 · -20.2%
• By 2075: 31,440 · -37.0%
• By 2100: 23,914 · -52.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 8% Two or more races 7% Black 2% Native American 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Iranian 7% Romanian 6% Portuguese 2%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 6%

Political lean MEDSL · Cass

• 2024 margin: Solid R (+33.9) · D 32.5% · R 66.4% · Other 1.1%
• 2008→2024 swing: -38.0pp toward R · 2008: 4.1pp · 2024: -33.9pp
• All cycles: 2024: R+33.9 2020: R+28.9 2016: R+29.9 2012: R+13.7 2008: D+4.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -70.63%
• Current HPI: 211.3353
• 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

+49.9% since first listed

8 events — show timeline

• 2026-03-26 Listed $119,900 MiRealSource-MiMLS
• 2026-03-26 Listed $119,900 REALCOMP
• 2026-03-26 Listed $119,900 SW Michigan MLS
• 2025-07-17 Sold (Public Records) $74,277 Public Records
• 2021-12-20 Sold (Public Records) $73,000 Public Records
• 2011-10-28 Sold (Public Records) $80,000 Public Records
• 2006-12-16 Sold (Public Records) $80,100 Public Records
• 2006-11-21 Sold (Public Records) $80,000 Public Records

Property tax history

-4.1%/yr

Latest (2025): $530 · -62.2% YoY. Source: county tax records.