310 N Main St · Vassar, MI 48768

$99,000

3 bd · 2.0 ba · 1,692 sqft · SingleFamily public records · 150 Days on market

Built 1884 0.40 ac lot $59/sqft · 37% below area Est $158k · 37% under

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Why this score? — see what drove the C 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 +20.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.5/10.0
• 1% rule +5.3/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Motivated Seller! After a bit of TLC this home will shine again! Great location in Vassar on a large lot and living space. Short walking distance from the schools. Backyard deck area has a gazebo in good condition and just needs a new roof added to be a great sitting area. There is a chicken coop and a small shed in the fenced backyard. Garage would fit a medium sized camper or larger vehicle and still big enough to be a workshop. Four bedrooms, 1 full bathroom & additional bathroom needs TLC to be in working order again. Large 15 x 20 family room & living room plus a formal dining room.

Key facts

• Backyard deck area
• Fenced backyard
• Chicken coop

Tags

• BACKYARD DECK AREA
• GAZEBO IN GOOD CONDITION
• CHICKEN COOP
• FENCED BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $129 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 3.3% in Vassar — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 60/100 on livability (#597 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools F, crime F.
• Vassar Public Schools (town): math 20% / reading 24% proficiency, ranked #450 of 540 in MI (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 83 active listings in the ZIP; 56 units permitted in Tuscola County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Tuscola County population projected at -29% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 150 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y ago; this cycle's ask has dropped $31k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $19k; list at $99k implies a 421% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1884 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 150 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 1884 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F 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?
7. 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.
8. 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.
9. 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: 1.03% ✓
• Cap rate: 7.86%
• Cash-on-cash: 5.59%
• DSCR: 1.25
• GRM: 8.1

CMA / ARV

• ARV (median comp): $157,989
• List price: $99,000
• Delta: -37.34%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
813 W Oak St	0.52mi	3/2.0	1,688 (-0%)	3mo	$185,000	$110	72
142 Maple St	0.18mi	3/1.5	1,850 (+9%)	11mo	$125,000	$68	65
811 Saginaw St	0.61mi	3/2.0	1,676 (-1%)	8mo	$204,000	$122	63
228 Saginaw St	0.46mi	4/2.5 (+1)	1,749 (+3%)	6mo	$281,500	$161	61
641 Briarwood Dr	0.37mi	3/2.0	1,480 (-12%)	1mo	$170,000	$115	60
620 W Huron Ave	0.48mi	3/1.0	1,542 (-9%)	2mo	$132,000	$86	57
959 N Cass Ave	0.70mi	3/2.0	1,625 (-4%)	6mo	$170,000	$105	56
508 W Oak St	0.39mi	3/1.5	1,442 (-15%)	1mo	$26,000	$18	55
306 S Main St	0.52mi	3/2.5	1,915 (+13%)	0mo	$220,000	$115	52
810 W Oak St	0.51mi	4/2.0 (+1)	1,500 (-11%)	1mo	$201,000	$134	51
620 Wilmot St	0.59mi	3/2.0	1,470 (-13%)	10mo	$189,000	$129	42
321 Prospect St	0.56mi	4/3.0 (+1)	1,832 (+8%)	11mo	$223,000	$122	42

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: -7.6%
• Equity multiple: 0.72×
• Total profit: $-7,811
• Equity at exit: $14,761

10-year hold

• IRR: 1.9%
• Equity multiple: 1.14×
• Total profit: $3,831
• Equity at exit: $8,560

Cash invested: $27,720 (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 48768

• Home prices YoY: -23.6%
• Active inventory: 83
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,023 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$119 /mo · $1,423/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $129

Break-even live

Break-even rent $859

Max offer price $99,000

Occupancy floor 82%

Sensitivity live

Price	-10% $185	-5% $157	+0% $129	+5% $101	+10% $73
Rent	-10% $48	-5% $89	+0% $129	+5% $169	+10% $210
Rate	-1.0pp $179	-0.5pp $154	base $129	+0.5pp $103	+1.0pp $77

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-15
   days on market $99,000 Active 150 DOM
2. 2026-06-13
   days on market $99,000 Active 148 DOM
3. 2026-06-12
   days on market $99,000 Active 147 DOM
4. 2026-06-09
   days on market $99,000 Active 144 DOM
5. 2026-06-08
   days on market $99,000 Active 143 DOM
6. 2026-06-07
   days on market $99,000 Active 142 DOM
7. 2026-06-07
   days on market $99,000 Active 141 DOM
8. 2026-06-04
   days on market $99,000 Active 138 DOM
9. 2026-06-02
   days on market $99,000 Active 137 DOM
10. 2026-06-01
    days on market $99,000 Active 136 DOM
11. 2026-05-31
    days on market $99,000 Active 135 DOM
12. 2026-05-31
    days on market $99,000 Active 134 DOM
13. 2026-05-11
    status Active 608-char remark

    Show marketing remark (608 chars)

    Motivated Seller! After a bit of TLC this home will shine again! Great location in Vassar on a large lot and living space. Short walking distance from the schools. Backyard deck area has a gazebo in good condition and just needs a new roof added to be a great sitting area. There is a chicken coop and a small shed in the fenced backyard. Garage would fit a medium sized camper or larger vehicle and still big enough to be a workshop. Four bedrooms, 1 full bathroom & additional bathroom needs TLC to be in working order again. Large 15 x 20 family room & living room plus a formal dining room.

14. 2026-05-11
    historical 608-char remark

    Show marketing remark (608 chars)

    Motivated Seller! After a bit of TLC this home will shine again! Great location in Vassar on a large lot and living space. Short walking distance from the schools. Backyard deck area has a gazebo in good condition and just needs a new roof added to be a great sitting area. There is a chicken coop and a small shed in the fenced backyard. Garage would fit a medium sized camper or larger vehicle and still big enough to be a workshop. Four bedrooms, 1 full bathroom & additional bathroom needs TLC to be in working order again. Large 15 x 20 family room & living room plus a formal dining room.

15. 2026-05-07
    price $99,000 608-char remark

    Show marketing remark (608 chars)

    Motivated Seller! After a bit of TLC this home will shine again! Great location in Vassar on a large lot and living space. Short walking distance from the schools. Backyard deck area has a gazebo in good condition and just needs a new roof added to be a great sitting area. There is a chicken coop and a small shed in the fenced backyard. Garage would fit a medium sized camper or larger vehicle and still big enough to be a workshop. Four bedrooms, 1 full bathroom & additional bathroom needs TLC to be in working order again. Large 15 x 20 family room & living room plus a formal dining room.

16. 2026-05-06
    price $99,000 608-char remark

    Show marketing remark (608 chars)

    Motivated Seller! After a bit of TLC this home will shine again! Great location in Vassar on a large lot and living space. Short walking distance from the schools. Backyard deck area has a gazebo in good condition and just needs a new roof added to be a great sitting area. There is a chicken coop and a small shed in the fenced backyard. Garage would fit a medium sized camper or larger vehicle and still big enough to be a workshop. Four bedrooms, 1 full bathroom & additional bathroom needs TLC to be in working order again. Large 15 x 20 family room & living room plus a formal dining room.

17. 2026-04-29
    price $104,900 608-char remark

    Show marketing remark (608 chars)

    Motivated Seller! After a bit of TLC this home will shine again! Great location in Vassar on a large lot and living space. Short walking distance from the schools. Backyard deck area has a gazebo in good condition and just needs a new roof added to be a great sitting area. There is a chicken coop and a small shed in the fenced backyard. Garage would fit a medium sized camper or larger vehicle and still big enough to be a workshop. Four bedrooms, 1 full bathroom & additional bathroom needs TLC to be in working order again. Large 15 x 20 family room & living room plus a formal dining room.

18. 2026-04-29
    price $104,900 608-char remark

    Show marketing remark (608 chars)

    Motivated Seller! After a bit of TLC this home will shine again! Great location in Vassar on a large lot and living space. Short walking distance from the schools. Backyard deck area has a gazebo in good condition and just needs a new roof added to be a great sitting area. There is a chicken coop and a small shed in the fenced backyard. Garage would fit a medium sized camper or larger vehicle and still big enough to be a workshop. Four bedrooms, 1 full bathroom & additional bathroom needs TLC to be in working order again. Large 15 x 20 family room & living room plus a formal dining room.

19. 2026-04-03
    price $109,900 608-char remark

    Show marketing remark (608 chars)

    Motivated Seller! After a bit of TLC this home will shine again! Great location in Vassar on a large lot and living space. Short walking distance from the schools. Backyard deck area has a gazebo in good condition and just needs a new roof added to be a great sitting area. There is a chicken coop and a small shed in the fenced backyard. Garage would fit a medium sized camper or larger vehicle and still big enough to be a workshop. Four bedrooms, 1 full bathroom & additional bathroom needs TLC to be in working order again. Large 15 x 20 family room & living room plus a formal dining room.

20. 2026-04-03
    price $109,900 608-char remark

    Show marketing remark (608 chars)

    Motivated Seller! After a bit of TLC this home will shine again! Great location in Vassar on a large lot and living space. Short walking distance from the schools. Backyard deck area has a gazebo in good condition and just needs a new roof added to be a great sitting area. There is a chicken coop and a small shed in the fenced backyard. Garage would fit a medium sized camper or larger vehicle and still big enough to be a workshop. Four bedrooms, 1 full bathroom & additional bathroom needs TLC to be in working order again. Large 15 x 20 family room & living room plus a formal dining room.

21. 2026-03-20
    price $114,900 608-char remark

    Show marketing remark (608 chars)

    Motivated Seller! After a bit of TLC this home will shine again! Great location in Vassar on a large lot and living space. Short walking distance from the schools. Backyard deck area has a gazebo in good condition and just needs a new roof added to be a great sitting area. There is a chicken coop and a small shed in the fenced backyard. Garage would fit a medium sized camper or larger vehicle and still big enough to be a workshop. Four bedrooms, 1 full bathroom & additional bathroom needs TLC to be in working order again. Large 15 x 20 family room & living room plus a formal dining room.

22. 2026-03-20
    price $114,900 608-char remark

    Show marketing remark (608 chars)

    Motivated Seller! After a bit of TLC this home will shine again! Great location in Vassar on a large lot and living space. Short walking distance from the schools. Backyard deck area has a gazebo in good condition and just needs a new roof added to be a great sitting area. There is a chicken coop and a small shed in the fenced backyard. Garage would fit a medium sized camper or larger vehicle and still big enough to be a workshop. Four bedrooms, 1 full bathroom & additional bathroom needs TLC to be in working order again. Large 15 x 20 family room & living room plus a formal dining room.

23. 2026-02-10
    price $119,900 608-char remark

    Show marketing remark (608 chars)

    Motivated Seller! After a bit of TLC this home will shine again! Great location in Vassar on a large lot and living space. Short walking distance from the schools. Backyard deck area has a gazebo in good condition and just needs a new roof added to be a great sitting area. There is a chicken coop and a small shed in the fenced backyard. Garage would fit a medium sized camper or larger vehicle and still big enough to be a workshop. Four bedrooms, 1 full bathroom & additional bathroom needs TLC to be in working order again. Large 15 x 20 family room & living room plus a formal dining room.

24. 2026-02-09
    price $119,900 608-char remark

    Show marketing remark (608 chars)

    Motivated Seller! After a bit of TLC this home will shine again! Great location in Vassar on a large lot and living space. Short walking distance from the schools. Backyard deck area has a gazebo in good condition and just needs a new roof added to be a great sitting area. There is a chicken coop and a small shed in the fenced backyard. Garage would fit a medium sized camper or larger vehicle and still big enough to be a workshop. Four bedrooms, 1 full bathroom & additional bathroom needs TLC to be in working order again. Large 15 x 20 family room & living room plus a formal dining room.

25. 2026-01-17
    listed $129,900 Active 608-char remark

    Show marketing remark (608 chars)

    Motivated Seller! After a bit of TLC this home will shine again! Great location in Vassar on a large lot and living space. Short walking distance from the schools. Backyard deck area has a gazebo in good condition and just needs a new roof added to be a great sitting area. There is a chicken coop and a small shed in the fenced backyard. Garage would fit a medium sized camper or larger vehicle and still big enough to be a workshop. Four bedrooms, 1 full bathroom & additional bathroom needs TLC to be in working order again. Large 15 x 20 family room & living room plus a formal dining room.

26. 2026-01-16
    listed $129,900 Active 608-char remark

    Show marketing remark (608 chars)

    Motivated Seller! After a bit of TLC this home will shine again! Great location in Vassar on a large lot and living space. Short walking distance from the schools. Backyard deck area has a gazebo in good condition and just needs a new roof added to be a great sitting area. There is a chicken coop and a small shed in the fenced backyard. Garage would fit a medium sized camper or larger vehicle and still big enough to be a workshop. Four bedrooms, 1 full bathroom & additional bathroom needs TLC to be in working order again. Large 15 x 20 family room & living room plus a formal dining room.

27. 2013-09-20
    soldstatus $19,000
28. 2013-07-24
    listed $19,900

ⓘ 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: $1,423 · $119/mo
• Projected year-2 tax: $1,474 · $123/mo
• Expected delta: +$51/yr (+$4/mo · 3.6%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 24% 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: $12,274
• − Mortgage interest: −$5,546
• − Property taxes: −$1,423
• − Insurance: −$495
• − Repairs & maintenance: −$982
• − Management: −$982
• − Depreciation: −$2,880
• Taxable loss: −$33
• Est. tax savings @ 24.0%: +$8
• After-tax cash flow: $1,557/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: Vassar Public Schools
• NCES district ID: 2634710
• Math proficiency: 20% ▼ -4.00%
• Reading proficiency: 24% ▼ -15.00%
• Median HH income: $41,418
• Composite: 18.74/100
• National rank: #8878
• State rank: #450 of 540 in MI

Livability — Vassar

• Score: 60/100
• State rank: #597
• US rank: #19448

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vassar, MI
• City population: 9,144
• Population (ZIP): 9,144

Population outlook (Tuscola County) Hauer SSP2

• Today (2025): 49,930 people
• By 2030: 47,294 · -5.3%
• By 2040: 41,504 · -16.9%
• By 2050: 35,560 · -28.8%
• By 2075: 24,455 · -51.0%
• By 2100: 16,507 · -66.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 5% Black 2%
• Common ancestry: Romanian 12% Lithuanian 3% Slovak 1%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Tuscola

• 2024 margin: Solid R (+43.0) · D 27.9% · R 70.9% · Other 1.3%
• 2008→2024 swing: -42.1pp toward R · 2008: -0.8pp · 2024: -43.0pp
• All cycles: 2024: R+43.0 2020: R+39.3 2016: R+38.0 2012: R+10.8 2008: R+0.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -79.32%
• Current HPI: 257.233
• 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

+397.5% since first listed

16 events — show timeline

• 2026-05-11 Relisted — REALCOMP
• 2026-05-11 Listing Removed — REALCOMP
• 2026-05-07 Price Changed $99,000 MiRealSource-MiMLS
• 2026-05-06 Price Changed $99,000 REALCOMP
• 2026-04-29 Price Changed $104,900 MiRealSource-MiMLS
• 2026-04-29 Price Changed $104,900 REALCOMP
• 2026-04-03 Price Changed $109,900 MiRealSource-MiMLS
• 2026-04-03 Price Changed $109,900 REALCOMP
• 2026-03-20 Price Changed $114,900 MiRealSource-MiMLS
• 2026-03-20 Price Changed $114,900 REALCOMP
• 2026-02-10 Price Changed $119,900 MiRealSource-MiMLS
• 2026-02-09 Price Changed $119,900 REALCOMP
• 2026-01-17 Listed $129,900 REALCOMP
• 2026-01-16 Listed $129,900 MiRealSource-MiMLS
• 2013-09-20 Sold (MLS) $19,000 MiRealSource-MiMLS
• 2013-07-24 Listed $19,900 MiRealSource-MiMLS

Property tax history

+0.1%/yr

Latest (2025): $1,423 · -21.1% YoY. Source: county tax records.