815 Jacobs Lndg

Monroe, MI 48161

$71,000F

3 bd · 2.0 ba · 1,188 sqft · Built 1999 · SingleFamily · Active · 68 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,410/mo
• Mortgage (P&I): −$372
• Tax + insurance: −$118
• HOA: −$795
• Vac / Maint / Mgmt: −$296
• Net cashflow: $-172/mo
• Annual: $-2,064/yr
• Cap rate: 3.39%
• Cash-on-cash: -10.38%
• DSCR: 0.54
• 1% rule: 1.99%
• Cash to close: $19,880

Investor read

• This is a 3-bed/2.0-bath single-family listed at $71k. Condition is rated average.
• At list price, monthly cash flow is $-172 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $46k (35.1% below list).
• Meets the 1% rule at list price ($1k rent vs $71k).
• It's been on market 68 days — a 6% lower offer ($67k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $46k (35.1% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $491 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 83/100 on livability (#51 in MI, #1,034 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, crime D+, amenities D+.
• Monroe Public Schools (suburban): math 24% / reading 47% proficiency, ranked #278 of 540 in MI (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Custer Elementary School (math 10% / reading 30%, grade F, #1,083 of 1,397 statewide, top 78%, 741 students, 69% FRL); Monroe Middle School (math 34% / reading 64%, grade C, #127 of 493 statewide, top 26%, 653 students, 66% FRL); Monroe High School (math 25% / reading 48%, grade F, #364 of 713 statewide, top 51%, 1,304 students, 52% FRL).
• Watch-outs: HOA is 56% of rent.
• Market conditions: 154 active listings in the ZIP; 264 units permitted in Monroe County in 2024 (40 in 5+ unit buildings).
• Monroe County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $6k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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?
• It's been on market 68 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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?

Repairs flagged (vision-AI assessment)

• Moderate: kitchen cabinets — dated and in need of replacement
• Moderate: kitchen countertops — dated and in need of replacement
• Moderate: kitchen appliances — dated and in need of replacement
• Minor: bathroom fixtures — standard fixtures