115 Grove St · Hudson, MI 49247

$124,900

3 bd · 1.0 ba · 1,602 sqft · SingleFamily public records · 55 Days on market

Built 1920 5,227 sqft lot $78/sqft · 17% below area Est $164k · 24% 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 +15.7/30.0
• ARV discount +15.0/15.0
• DSCR +4.8/10.0
• 1% rule +4.0/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fabulous red brick home with welcoming front porch within walking distance to the everything downtown Hudson has to offer. Traditional features of beautiful home that just needs a little TLC. Attractive main floor bedroom with attached full bath; large living room open to handsome formal dining; huge kitchen; mudroom and laundry room. Upstairs 2 large bedrooms and extra space for whatever your needs. Hot water heat. Lovely trees and plantings are well. Attached carport spacious enough for large vehicle. Corner lot. Come fall in love with this worthy home with so much potential.

Key facts

• 5,227 sq ft lot
• Built 1920
• Listed 55 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $55 ($659/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 $112k (10.4% below list).
• Recommended offer: $112k (10.4% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 5.1% in Hudson — 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 71/100 on livability (#272 in MI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: employment D+, amenities F, commute F.
• Hudson Area Schools (rural): math 18% / reading 33% proficiency, ranked #416 of 540 in MI (top 77%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 30 active listings in the ZIP; 137 units permitted in Lenawee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Lenawee County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 25y 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $111,884 (10.4% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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: 0.90% ✗
• Cap rate: 6.82%
• Cash-on-cash: 1.89%
• DSCR: 1.08
• GRM: 9.3

CMA / ARV

• ARV (median comp): $163,590
• List price: $124,900
• Delta: -23.65%
• 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
314 Railroad St	0.22mi	3/1.0	1,608 (+0%)	1mo	$40,000	$25	88
518 W Main St	0.12mi	4/2.0 (+1)	1,554 (-3%)	0mo	$190,000	$122	80
107 Seward Street St	0.17mi	3/1.5	1,686 (+5%)	8mo	$138,000	$82	75
410 Grove St	0.19mi	3/1.0	1,486 (-7%)	8mo	$129,900	$87	72
617 Oak St	0.39mi	3/1.5	1,644 (+3%)	7mo	$155,000	$94	70
606 Grove St	0.34mi	3/1.5	1,557 (-3%)	13mo	$165,000	$106	66
118 Oak St	0.10mi	4/2.0 (+1)	1,488 (-7%)	16mo	$169,900	$114	62
312 S Church St	0.23mi	4/1.5 (+1)	1,452 (-9%)	21mo	$114,900	$79	49
506 Grove St	0.28mi	3/1.0	1,808 (+13%)	23mo	$154,400	$85	46
111 Spring St	0.74mi	3/1.0	1,472 (-8%)	9mo	$159,900	$109	44
112 Valley Dr	0.71mi	3/1.5	1,648 (+3%)	21mo	$150,000	$91	43
422 Grove St	0.24mi	4/1.5 (+1)	1,811 (+13%)	21mo	$174,900	$97	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: -13.3%
• Equity multiple: 0.52×
• Total profit: $-16,743
• Equity at exit: $18,623

10-year hold

• IRR: -4.4%
• Equity multiple: 0.71×
• Total profit: $-10,089
• Equity at exit: $10,799

Cash invested: $34,972 (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 49247

• Home prices YoY: -4.0%
• Active inventory: 30
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,119 medium
• Mortgage (P&I): −$655
• Tax from tax record: −$122 /mo · $1,463/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$235
• Net cashflow: $55

Break-even live

Break-even rent $1,049

Max offer price $124,900

Occupancy floor 90%

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-18
   days on market $124,900 Active 55 DOM
2. 2026-06-17
   days on market $124,900 Active 54 DOM
3. 2026-06-16
   days on market $124,900 Active 53 DOM
4. 2026-06-15
   days on market $124,900 Active 52 DOM
5. 2026-06-13
   days on market $124,900 Active 50 DOM
6. 2026-06-12
   days on market $124,900 Active 49 DOM
7. 2026-06-09
   days on market $124,900 Active 46 DOM
8. 2026-06-08
   days on market $124,900 Active 45 DOM
9. 2026-06-07
   days on market $124,900 Active 44 DOM
10. 2026-06-07
    days on market $124,900 Active 43 DOM
11. 2026-06-04
    days on market $124,900 Active 40 DOM
12. 2026-06-02
    days on market $124,900 Active 39 DOM
13. 2026-06-01
    days on market $124,900 Active 38 DOM
14. 2026-05-31
    days on market $124,900 Active 37 DOM
15. 2026-05-31
    days on market $124,900 Active 36 DOM
16. 2026-05-15
    price $124,900 584-char remark

    Show marketing remark (584 chars)

    Fabulous red brick home with welcoming front porch within walking distance to the everything downtown Hudson has to offer. Traditional features of beautiful home that just needs a little TLC. Attractive main floor bedroom with attached full bath; large living room open to handsome formal dining; huge kitchen; mudroom and laundry room. Upstairs 2 large bedrooms and extra space for whatever your needs. Hot water heat. Lovely trees and plantings are well. Attached carport spacious enough for large vehicle. Corner lot. Come fall in love with this worthy home with so much potential.

17. 2026-05-15
    price $124,900 584-char remark

    Show marketing remark (584 chars)

    Fabulous red brick home with welcoming front porch within walking distance to the everything downtown Hudson has to offer. Traditional features of beautiful home that just needs a little TLC. Attractive main floor bedroom with attached full bath; large living room open to handsome formal dining; huge kitchen; mudroom and laundry room. Upstairs 2 large bedrooms and extra space for whatever your needs. Hot water heat. Lovely trees and plantings are well. Attached carport spacious enough for large vehicle. Corner lot. Come fall in love with this worthy home with so much potential.

18. 2026-04-24
    listed $129,900 Active 584-char remark

    Show marketing remark (584 chars)

    Fabulous red brick home with welcoming front porch within walking distance to the everything downtown Hudson has to offer. Traditional features of beautiful home that just needs a little TLC. Attractive main floor bedroom with attached full bath; large living room open to handsome formal dining; huge kitchen; mudroom and laundry room. Upstairs 2 large bedrooms and extra space for whatever your needs. Hot water heat. Lovely trees and plantings are well. Attached carport spacious enough for large vehicle. Corner lot. Come fall in love with this worthy home with so much potential.

19. 2026-04-24
    listed $129,900 Active 584-char remark

    Show marketing remark (584 chars)

    Fabulous red brick home with welcoming front porch within walking distance to the everything downtown Hudson has to offer. Traditional features of beautiful home that just needs a little TLC. Attractive main floor bedroom with attached full bath; large living room open to handsome formal dining; huge kitchen; mudroom and laundry room. Upstairs 2 large bedrooms and extra space for whatever your needs. Hot water heat. Lovely trees and plantings are well. Attached carport spacious enough for large vehicle. Corner lot. Come fall in love with this worthy home with so much potential.

20. 2026-04-21
    historical $129,900 584-char remark

    Show marketing remark (584 chars)

    Fabulous red brick home with welcoming front porch within walking distance to the everything downtown Hudson has to offer. Traditional features of beautiful home that just needs a little TLC. Attractive main floor bedroom with attached full bath; large living room open to handsome formal dining; huge kitchen; mudroom and laundry room. Upstairs 2 large bedrooms and extra space for whatever your needs. Hot water heat. Lovely trees and plantings are well. Attached carport spacious enough for large vehicle. Corner lot. Come fall in love with this worthy home with so much potential.

21. 2022-11-03
    soldstatus $118,675
22. 2022-10-24
    soldstatus $118,675 Sold
23. 2022-10-24
    soldstatus $118,675 Sold
24. 2022-10-07
    status Pending
25. 2022-10-07
    status Pending
26. 2022-10-07
    status Pending
27. 2022-09-22
    historical Contingent - Continue To Show
28. 2022-09-22
    historical Keep Showing-Contgcy Appl
29. 2022-09-21
    historical Active - Contingent
30. 2022-09-14
    listed $117,500 Active
31. 2022-09-14
    listed $117,500 Active
32. 2022-09-14
    listed $117,500 Active
33. 2015-08-11
    soldstatus $54,000
34. 2015-08-10
    soldstatus $54,000
35. 2015-08-10
    soldstatus $54,000
36. 2015-08-04
    historical
37. 2015-06-10
    listed $57,500
38. 2015-06-10
    listed $57,500
39. 2013-01-17
    historical
40. 2013-01-16
    historical
41. 2012-07-16
    listed $54,500
42. 2012-07-16
    listed $54,500
43. 2003-05-02
    soldstatus $83,000
44. 2003-05-02
    soldstatus $83,000
45. 2003-05-02
    soldstatus $83,000
46. 2003-03-20
    historical
47. 2002-07-18
    listed $84,900
48. 2002-07-18
    listed $84,900
49. 2002-07-18
    listed $84,900
50. 2001-10-07
    soldstatus $78,350

ⓘ 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: $1,463 · $122/mo
• Projected year-2 tax: $1,693 · $141/mo
• Expected delta: +$230/yr (+$19/mo · 15.7%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 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: $13,426
• − Mortgage interest: −$6,996
• − Property taxes: −$1,463
• − Insurance: −$624
• − Repairs & maintenance: −$1,074
• − Management: −$1,074
• − Depreciation: −$3,633
• Taxable loss: −$1,439
• Est. tax savings @ 24.0%: +$345
• After-tax cash flow: $1,005/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: Hudson Area Schools
• NCES district ID: 2618810
• Math proficiency: 18% ▼ -9.00%
• Reading proficiency: 33% ▼ -10.00%
• Median HH income: $44,996
• Composite: 21.93/100
• National rank: #8227
• State rank: #416 of 540 in MI

Livability — Hudson

• Score: 71/100
• State rank: #272
• US rank: #6741

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hudson, MI
• Population (ZIP): 5,257

Population outlook (Lenawee County) Hauer SSP2

• Today (2025): 95,497 people
• By 2030: 92,722 · -2.9%
• By 2040: 85,641 · -10.3%
• By 2050: 77,971 · -18.4%
• By 2075: 60,043 · -37.1%
• By 2100: 41,468 · -56.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 7% Two or more races 5%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Iranian 2% Romanian 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 2%

Political lean MEDSL · Lenawee

• 2024 margin: Strong R (+23.0) · D 37.8% · R 60.8% · Other 1.4%
• 2008→2024 swing: -28.1pp toward R · 2008: 5.1pp · 2024: -23.0pp
• All cycles: 2024: R+23.0 2020: R+19.9 2016: R+21.1 2012: R+1.3 2008: D+5.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -12.79%
• Current HPI: 307.255
• 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

+49.6% since first listed

41 events — show timeline

• 2026-05-15 Price Changed $124,900 MiRealSource-MiMLS
• 2026-05-15 Price Changed $124,900 REALCOMP
• 2026-04-24 Listed $129,900 REALCOMP
• 2026-04-24 Listed $129,900 MiRealSource-MiMLS
• 2026-04-21 Coming Soon $129,900 MiRealSource-MiMLS
• 2022-11-03 Sold (Public Records) $118,675 Public Records
• 2022-10-24 Sold (MLS) $118,675 SW Michigan MLS
• 2022-10-24 Sold (MLS) $118,675 REALCOMP
• 2022-10-07 Pending — MiRealSource-MiMLS
• 2022-10-07 Pending — REALCOMP
• 2022-10-07 Pending — SW Michigan MLS
• 2022-09-22 Contingent — REALCOMP
• 2022-09-22 Contingent — MiRealSource-MiMLS
• 2022-09-21 Contingent — SW Michigan MLS
• 2022-09-14 Listed $117,500 SW Michigan MLS
• 2022-09-14 Listed $117,500 MiRealSource-MiMLS
• 2022-09-14 Listed $117,500 REALCOMP
• 2015-08-11 Sold (Public Records) $54,000 Public Records
• 2015-08-10 Sold (MLS) $54,000 MiRealSource-MiMLS
• 2015-08-10 Sold (MLS) $54,000 REALCOMP
• 2015-08-04 Listing Removed — MiRealSource-MiMLS
• 2015-06-10 Listed $57,500 MiRealSource-MiMLS
• 2015-06-10 Listed $57,500 REALCOMP
• 2013-01-17 Listing Removed — REALCOMP
• 2013-01-16 Listing Removed — MiRealSource-MiMLS
• 2012-07-16 Listed $54,500 REALCOMP
• 2012-07-16 Listed $54,500 MiRealSource-MiMLS
• 2003-05-02 Sold (MLS) $83,000 MiRealSource-MiMLS
• 2003-05-02 Sold (MLS) $83,000 REALCOMP
• 2003-05-02 Sold (MLS) $83,000 SW Michigan MLS
• 2003-03-20 Listing Removed — MiRealSource-MiMLS
• 2002-07-18 Listed $84,900 MiRealSource-MiMLS
• 2002-07-18 Listed $84,900 REALCOMP
• 2002-07-18 Listed $84,900 SW Michigan MLS
• 2001-10-07 Sold (MLS) $78,350 REALCOMP
• 2001-10-07 Sold (MLS) $78,350 MiRealSource-MiMLS
• 2001-10-07 Sold (MLS) $78,350 SW Michigan MLS
• 2001-07-20 Listed $83,500 REALCOMP
• 2001-07-20 Listing Removed — MiRealSource-MiMLS
• 2001-07-20 Listed $83,500 MiRealSource-MiMLS
• 2001-07-20 Listed $83,500 SW Michigan MLS

Property tax history

-2.1%/yr

Latest (2025): $1,463 · -16.6% YoY. Source: county tax records.