229 5th St · Burr Oak, MI 49030

$128,000

2 bd · 1.0 ba · 960 sqft · SingleFamily public records · 9 Days on market

Built 1924 6,098 sqft lot Est $138k · 7% under

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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).

• ARV discount +10.8/15.0
• Cash flow +9.7/30.0
• Appreciation +5.7/10.0
• Livability +3.2/5.0
• DSCR +2.7/10.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0

Listing remarks

Charming one-story home filled with character and timeless appeal! Beautiful original woodwork and hardwood floors create a warm and inviting atmosphere throughout. The open floor plan features spacious rooms, including a large kitchen, formal dining room, and comfortable living room--perfect for everyday living and entertaining. The main-floor laundry room offers additional storage and pantry space for added convenience. This home includes two bedrooms, a back mudroom entrance, and a covered front porch ideal for relaxing. The attached one-car garage is currently set up as an entertaining area, providing flexible use of the space. The kitchen stove and refrigerator are included, making thi

Key facts

• Open floor plan
• Formal dining room
• Large kitchen

Tags

• ORIGINAL WOODWORK
• HARDWOOD FLOORS
• OPEN FLOOR PLAN
• LARGE KITCHEN
• FORMAL DINING ROOM
• MAIN-FLOOR LAUNDRY ROOM

Property features AI

Exterior

• Parking: Detached garage with garage door opener (1 car)
• Utilities: Public water; Public sewer; Natural gas connected; Phone available
• Home design: Single-family residence; Residential zoning
• Construction: Vinyl siding; Metal roof; Partial finished lower level
• Exterior features: Level lot; Cross street at W. Front and Eagle

Interior

• Kitchen: Refrigerator; Range
• Flooring: Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Ceiling fan(s)
• Interior features: Partial basement; 6 total rooms
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $128k.

Deal economics

• At list price, monthly cash flow is $-84 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $113k (11.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $90k (29.7% below list).
• Recommended offer: $90k (29.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#452 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: employment C-, schools F, crime F.
• Burr Oak Community School District (rural): math 25% / reading 30% proficiency, ranked #569 of 760 in MI (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 8 active listings in the ZIP; 125 units permitted in St. Joseph County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($885 loan paydown + $2k appreciation (1.4% local appreciation)).
• St. Joseph County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 4y ago 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 $50k; list at $128k implies a 156% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $90,040 (29.7% below list)

Questions for the listing agent

1. 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?
2. Built in 1924 — 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. 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?
5. 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?
6. 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?
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: 0.70% ✗
• Cap rate: 5.51%
• Cash-on-cash: -2.81%
• DSCR: 0.87
• GRM: 11.8

CMA / ARV

• ARV (on-the-fly): $138,240
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
238 Mill St	0.19mi	3/2.0 (+1)	999 (+4%)	5mo	$175,000	$175	71
604 W Front St	0.19mi	2/1.0	1,077 (+12%)	1mo	$155,000	$144	70
121 S 3rd St	0.15mi	3/1.0 (+1)	900 (-6%)	20mo	$52,000	$58	61
66280 Burr Oak Rd	0.72mi	1/1.0 (-1)	1,088 (+13%)	21mo	$155,000	$142	22

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.41% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-405
• Equity at exit: $46,450

10-year hold

• IRR: 4.3%
• Equity multiple: 1.55×
• Total profit: $19,874
• Equity at exit: $63,916

Cash invested: $35,840 (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 49030

• Home prices YoY: 0.6%
• Active inventory: 8
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $900 medium
• Mortgage (P&I): −$671
• Tax from tax record: −$71 /mo · $848/yr
• Insurance: −$53
• HOA: −$0
• Vacancy / Maint / Mgmt: −$189
• Net cashflow: $-84

Break-even live

Break-even rent $1,007

Max offer price $113,173

Occupancy floor —

Sensitivity live

Price	-10% $-11	-5% $-48	+0% $-84	+5% $-120	+10% $-156
Rent	-10% $-155	-5% $-119	+0% $-84	+5% $-48	+10% $-13
Rate	-1.0pp $-19	-0.5pp $-51	base $-84	+0.5pp $-117	+1.0pp $-151

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: $32,000
• Closing costs: $3,840
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-18
   days on market $128,000 Active 9 DOM
2. 2026-06-17
   days on market $128,000 Active 8 DOM
3. 2026-06-16
   days on market $128,000 Active 7 DOM
4. 2026-06-15
   days on market $128,000 Active 6 DOM
5. 2026-06-13
   days on market $128,000 Active 4 DOM
6. 2026-06-12
   days on market $128,000 Active 3 DOM
7. 2026-06-09
   remarks 699-char remark
8. 2026-06-09
   listed $128,000 Active 1 DOM

ⓘ 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: $848 · $71/mo
• Projected year-2 tax: $1,410 · $117/mo
• Expected delta: +$562/yr (+$47/mo · 66.2%)

ⓘ 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 ≥98°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: $10,805
• − Mortgage interest: −$7,170
• − Property taxes: −$848
• − Insurance: −$640
• − Repairs & maintenance: −$864
• − Management: −$864
• − Depreciation: −$3,724
• Taxable loss: −$3,306
• Est. tax savings @ 24.0%: +$793
• After-tax cash flow: $-214/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: Burr Oak Community School District
• NCES district ID: 2607410
• Math proficiency: 25% ▲ 15.00%
• Reading proficiency: 30% ▲ 10.00%
• Median HH income: $42,589
• Composite: 26.35/100
• National rank: #12672
• State rank: #569 of 760 in MI

Livability — Burr Oak

• Score: 65/100
• State rank: #452
• US rank: #12662

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Burr Oak, MI
• Population (ZIP): 2,435

Population outlook (St. Joseph County) Hauer SSP2

• Today (2025): 58,726 people
• By 2030: 57,030 · -2.9%
• By 2040: 53,266 · -9.3%
• By 2050: 49,343 · -16.0%
• By 2075: 40,441 · -31.1%
• By 2100: 31,981 · -45.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 8% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 7% Iranian 4% Slovak 3%
• Foreign-born: 4% · Canada
• Languages at home: 85% English-only · German/W. Germanic 10% Spanish 5%

Political lean MEDSL · St. Joseph

• 2024 margin: Solid R (+34.0) · D 32.2% · R 66.2% · Other 1.5%
• 2008→2024 swing: -31.8pp toward R · 2008: -2.2pp · 2024: -34.0pp
• All cycles: 2024: R+34.0 2020: R+31.7 2016: R+31.0 2012: R+12.3 2008: R+2.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.41%
• Current HPI: 221.0439
• 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

+156.0% since first listed

4 events — show timeline

• 2026-06-09 Listed $128,000 REALCOMP
• 2022-09-19 Listing Removed — REALCOMP
• 2022-07-20 Listed $99,000 REALCOMP
• 2019-08-20 Sold (Public Records) $50,000 Public Records

Property tax history

+6.0%/yr

Latest (2025): $848 · -26.8% YoY. Source: county tax records.