8245 45th St SE · Cascade, MI 49301

$274,900

3 bd · 1.5 ba · 1,242 sqft · SingleFamily · 20 Days on market

Built 1915 0.88 ac lot

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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 +7.5/15.0
• DSCR +6.5/10.0
• Schools +6.3/10.0
• 1% rule +4.6/10.0
• 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

Location, Location, Location! Located in the highly desired Forest Hills School district!3 Bedrooms 2 Bathrooms 1,242 Square Feet. Perfect opportunity for investors, flippers, or buyers looking to build equity and make it their own. Sold AS-IS. Seller to do NO Repairs.

Key facts

• 0.88 acre lot
• 2 garage spots
• Built 1915

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Well water
• Home design: Traditional single-family residence; Residential property
• Construction: Built in 1915; Wood siding; Shingle roof
• Exterior features: Wooded lot; Paved road access; Shed(s) on property

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Wall furnace (heating)
• Interior features: Total of 8 rooms; Full basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $358 ($4k/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 $265k (3.6% below list).
• Recommended offer: $265k (3.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Forest Hills Public Schools (suburban): math 65% / reading 74% proficiency, ranked #11 of 540 in MI (top 2%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 8% free/reduced lunch — higher-income household profile.
• Market conditions: 120 active listings in the ZIP; 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Kent County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($271k) 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 $115k; list at $275k implies a 139% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $265,114 (3.6% below list)

Questions for the listing agent

1. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 0.96% ✗
• Cap rate: 7.86%
• Cash-on-cash: 5.59%
• DSCR: 1.25
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -7.7%
• Equity multiple: 0.72×
• Total profit: $-21,789
• Equity at exit: $40,988

10-year hold

• IRR: 1.9%
• Equity multiple: 1.13×
• Total profit: $10,161
• Equity at exit: $23,768

Cash invested: $76,972 (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 49301

• Home prices YoY: -30.8%
• Active inventory: 120
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,651 medium
• Mortgage (P&I): −$1,442
• Tax from tax record: −$180 /mo · $2,160/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$557
• Net cashflow: $358

Break-even live

Break-even rent $2,198

Max offer price $274,900

Occupancy floor 81%

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: $68,725
• Closing costs: $8,247
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-17
   status $274,900 Pending 20 DOM
2. 2026-06-17
   days on market $274,900 Active 20 DOM
3. 2026-06-16
   days on market $274,900 Active 19 DOM
4. 2026-06-15
   days on market $274,900 Active 18 DOM
5. 2026-06-14
   days on market $274,900 Active 16 DOM
6. 2026-06-10
   days on market $274,900 Active 13 DOM
7. 2026-06-09
   days on market $274,900 Active 12 DOM
8. 2026-06-08
   days on market $274,900 Active 11 DOM
9. 2026-06-07
   days on market $274,900 Active 10 DOM
10. 2026-06-03
    days on market $274,900 Active 6 DOM
11. 2026-06-03
    days on market $274,900 Active 5 DOM
12. 2026-06-01
    days on market $274,900 Active 4 DOM
13. 2026-05-31
    days on market $274,900 Active 3 DOM
14. 2026-05-28
    listed $274,900 Active

    Show marketing remark (269 chars)

    Location, Location, Location! Located in the highly desired Forest Hills School district!3 Bedrooms 2 Bathrooms 1,242 Square Feet. Perfect opportunity for investors, flippers, or buyers looking to build equity and make it their own. Sold AS-IS. Seller to do NO Repairs.

15. 2026-05-28
    listed $274,900 Active 269-char remark

    Show marketing remark (269 chars)

    Location, Location, Location! Located in the highly desired Forest Hills School district!3 Bedrooms 2 Bathrooms 1,242 Square Feet. Perfect opportunity for investors, flippers, or buyers looking to build equity and make it their own. Sold AS-IS. Seller to do NO Repairs.

16. 2026-05-28
    listed $274,900 Active 269-char remark

    Show marketing remark (269 chars)

    Location, Location, Location! Located in the highly desired Forest Hills School district!3 Bedrooms 2 Bathrooms 1,242 Square Feet. Perfect opportunity for investors, flippers, or buyers looking to build equity and make it their own. Sold AS-IS. Seller to do NO Repairs.

17. 2006-09-21
    soldstatus $115,000

ⓘ 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: $2,160 · $180/mo
• Projected year-2 tax: $3,197 · $266/mo
• Expected delta: +$1,037/yr (+$86/mo · 48.0%)

ⓘ 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 ≥96°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: $31,814
• − Mortgage interest: −$15,399
• − Property taxes: −$2,160
• − Insurance: −$1,374
• − Repairs & maintenance: −$2,545
• − Management: −$2,545
• − Depreciation: −$7,997
• Taxable loss: −$207
• Est. tax savings @ 24.0%: +$50
• After-tax cash flow: $4,349/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: Forest Hills Public Schools
• NCES district ID: 2614610
• Math proficiency: 65% ▼ -3.00%
• Reading proficiency: 74% ▲ 1.00%
• Median HH income: $95,067
• Composite: 63.23/100
• National rank: #632
• State rank: #11 of 540 in MI

Livability — Cascade

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

Census & demographics

• Census place: Forest Hills, MI
• Population (ZIP): 20,492

Population outlook (Kent County) Hauer SSP2

• Today (2025): 712,484 people
• By 2030: 748,618 · +5.1%
• By 2040: 814,777 · +14.4%
• By 2050: 868,556 · +21.9%
• By 2075: 966,487 · +35.7%
• By 2100: 967,975 · +35.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 6% Hispanic / Latino 5% Asian 4%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Iranian 16% Romanian 6% Italian 4%
• Foreign-born: 5% · Canada, China, Jamaica
• Languages at home: 90% English-only · Spanish 4% Korean 1% Other Indo-European 1%

Political lean MEDSL · Kent

• 2024 margin: Lean D (+5.4) · D 51.8% · R 46.5% · Other 1.7%
• 2008→2024 swing: +4.8pp toward D · 2008: 0.5pp · 2024: 5.4pp
• All cycles: 2024: D+5.4 2020: D+6.1 2016: R+3.1 2012: R+7.9 2008: D+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -118.11%
• Current HPI: 264.8246
• 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

+139.0% since first listed

4 events — show timeline

• 2026-05-28 Listed $274,900 MiRealSource-MiMLS
• 2026-05-28 Listed $274,900 REALCOMP
• 2026-05-28 Listed $274,900 SW Michigan MLS
• 2006-09-21 Sold (Public Records) $115,000 Public Records

Property tax history

+2.1%/yr

Latest (2025): $2,160 · +2.6% YoY. Source: county tax records.