46 W Chicago St · Quincy, MI 49082

$265,000

30 bd · 25.0 ba · 3,000 sqft · MultiFamily · 83 Days on market

Built 1910 6,970 sqft lot

---

Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 5 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Located at 46 W Chicago St in Quincy, MI, this charming 5-unit property offers an exceptional investment opportunity in a growing community. Featuring a mix of well-maintained apartments, this multi-family home provides consistent rental income potential with the convenience of being centrally situated in downtown Quincy. With easy access to local amenities, schools, and parks, this property attracts a variety of tenants looking for convenience and comfort. Building is well laid out and has the utilities separated to each apartment. Whether you're a seasoned investor or new to the market, this property presents an excellent chance to build equity and increase cash flow. Call today for more information or a personal showing!

Key facts

• Centrally situated
• Utilities separated
• 6,970 sq ft lot

Tags

• INVESTMENT OPPORTUNITY
• WELL MAINTAINED APARTMENTS
• CONSISTENT RENTAL INCOME
• CENTRALLY SITUATED
• EASY ACCESS TO LOCAL AMENITIES
• UTILITIES SEPARATED

Property features AI

Finance

• Other: Property listed as multi-family residential income
• Financial info: Listed unit rents shown for sample units (examples: $716.66 and $781.80)

Exterior

• Parking: Total of 8 parking spaces; Concrete and paved parking surfaces
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Phone available
• Home design: Residential income property (multi-family)
• Construction: Vinyl siding and wood siding
• Exterior features: Composition roof; Flag lot; Paved road access

Interior

• Kitchen: Unit kitchens (appliance specifics not provided)
• Bedrooms: Multiple 1-bedroom units; At least one 2-bedroom unit
• Bathrooms: Each unit includes a full bathroom (1 bath per listed unit type)
• Heating & cooling: Forced air heating with natural gas; Window air conditioning units
• Interior features: Has basement with crawl space, full height, and walk-out access
• Laundry & utility: Separate heating systems for units (multiple 'Sep. Heat System' mentions)

What this means for you Summary

Snapshot

• This is a 5 × 6-bed/5.0-bath units multifamily listed at $265k.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive. Per door: $384/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $265k).
• Recommended offer: $249k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#489 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools C-, amenities F, commute F.
• Quincy Community Schools (town): math 27% / reading 43% proficiency, ranked #288 of 540 in MI (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 21 active listings in the ZIP; 43 units permitted in Branch County in 2024 (0 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.
• Branch County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $74k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($249k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 29y 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 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $249,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.79% ✓
• Cap rate: 14.99%
• Cash-on-cash: 31.07%
• DSCR: 2.38
• GRM: 4.6

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: 25.9%
• Equity multiple: 2.07×
• Total profit: $79,489
• Equity at exit: $39,512

10-year hold

• IRR: 33.6%
• Equity multiple: 4.06×
• Total profit: $227,065
• Equity at exit: $22,912

Cash invested: $74,200 (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 49082

• Active inventory: 21
• Price-to-rent: 23.2×

Monthly cashflow live

• Estimated rent: $4,750 medium
• Mortgage (P&I): −$1,390
• Tax est. 1.5%: −$331 /mo · $3,975/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$998
• Net cashflow: $1,921

Break-even live

Break-even rent $2,318

Max offer price $265,000

Occupancy floor 55%

Sensitivity live

Price	-10% $2,104	-5% $2,013	+0% $1,921	+5% $1,830	+10% $1,738
Rent	-10% $1,546	-5% $1,734	+0% $1,921	+5% $2,109	+10% $2,296
Rate	-1.0pp $2,055	-0.5pp $1,989	base $1,921	+0.5pp $1,852	+1.0pp $1,783

5-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 5× units	6	5	$4,750
Total (5 units)			$4,750

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-05-18
   status Pending

   Show marketing remark (733 chars)

   Located at 46 W Chicago St in Quincy, MI, this charming 5-unit property offers an exceptional investment opportunity in a growing community. Featuring a mix of well-maintained apartments, this multi-family home provides consistent rental income potential with the convenience of being centrally situated in downtown Quincy. With easy access to local amenities, schools, and parks, this property attracts a variety of tenants looking for convenience and comfort. Building is well laid out and has the utilities separated to each apartment. Whether you're a seasoned investor or new to the market, this property presents an excellent chance to build equity and increase cash flow. Call today for more information or a personal showing!

2. 2026-05-18
   status Pending 733-char remark

   Show marketing remark (733 chars)

   Located at 46 W Chicago St in Quincy, MI, this charming 5-unit property offers an exceptional investment opportunity in a growing community. Featuring a mix of well-maintained apartments, this multi-family home provides consistent rental income potential with the convenience of being centrally situated in downtown Quincy. With easy access to local amenities, schools, and parks, this property attracts a variety of tenants looking for convenience and comfort. Building is well laid out and has the utilities separated to each apartment. Whether you're a seasoned investor or new to the market, this property presents an excellent chance to build equity and increase cash flow. Call today for more information or a personal showing!

3. 2026-02-23
   listed $265,000 Active

   Show marketing remark (733 chars)

   Located at 46 W Chicago St in Quincy, MI, this charming 5-unit property offers an exceptional investment opportunity in a growing community. Featuring a mix of well-maintained apartments, this multi-family home provides consistent rental income potential with the convenience of being centrally situated in downtown Quincy. With easy access to local amenities, schools, and parks, this property attracts a variety of tenants looking for convenience and comfort. Building is well laid out and has the utilities separated to each apartment. Whether you're a seasoned investor or new to the market, this property presents an excellent chance to build equity and increase cash flow. Call today for more information or a personal showing!

4. 2026-02-23
   listed $265,000 Active 733-char remark

   Show marketing remark (733 chars)

   Located at 46 W Chicago St in Quincy, MI, this charming 5-unit property offers an exceptional investment opportunity in a growing community. Featuring a mix of well-maintained apartments, this multi-family home provides consistent rental income potential with the convenience of being centrally situated in downtown Quincy. With easy access to local amenities, schools, and parks, this property attracts a variety of tenants looking for convenience and comfort. Building is well laid out and has the utilities separated to each apartment. Whether you're a seasoned investor or new to the market, this property presents an excellent chance to build equity and increase cash flow. Call today for more information or a personal showing!

5. 2026-01-01
   historical
6. 2025-12-31
   historical
7. 2025-07-21
   price $265,000
8. 2025-07-21
   price $265,000
9. 2025-05-21
   status Active
10. 2025-05-21
    historical
11. 2025-04-22
    status Active
12. 2025-04-22
    historical
13. 2025-04-02
    status Active
14. 2025-04-02
    status Active
15. 2025-04-01
    historical
16. 2025-03-31
    historical
17. 2025-01-14
    listed $300,000 Active
18. 2025-01-12
    listed $300,000 Active
19. 2016-03-11
    historical
20. 2016-01-19
    price $88,000
21. 2015-12-07
    listed $90,000 Active
22. 2014-10-17
    historical
23. 1997-07-10
    listed $125,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $57,000
• − Mortgage interest: −$14,844
• − Property taxes: −$3,975
• − Insurance: −$1,325
• − Repairs & maintenance: −$4,560
• − Management: −$4,560
• − Depreciation: −$7,709
• Taxable income: $20,027
• Est. tax owed @ 24.0%: −$4,806
• After-tax cash flow: $18,247/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: Quincy Community Schools
• NCES district ID: 2629250
• Math proficiency: 27% ▼ -4.00%
• Reading proficiency: 43% ▼ -3.00%
• Median HH income: $45,316
• Composite: 29.84/100
• National rank: #6416
• State rank: #288 of 540 in MI

Livability — Quincy

• Score: 64/100
• State rank: #489
• US rank: #14203

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Quincy, MI
• City population: 6,374
• Population (ZIP): 6,374

Population outlook (Branch County) Hauer SSP2

• Today (2025): 41,079 people
• By 2030: 39,622 · -3.5%
• By 2040: 36,584 · -10.9%
• By 2050: 33,462 · -18.5%
• By 2075: 26,612 · -35.2%
• By 2100: 18,580 · -54.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 1%
• Common ancestry: Romanian 5% Lithuanian 3% Iranian 2%
• Foreign-born: 1%
• Languages at home: 89% English-only · German/W. Germanic 10% Spanish 1%

Political lean MEDSL · Branch

• 2024 margin: Solid R (+42.4) · D 28.0% · R 70.4% · Other 1.6%
• 2008→2024 swing: -36.2pp toward R · 2008: -6.1pp · 2024: -42.4pp
• All cycles: 2024: R+42.4 2020: R+38.5 2016: R+38.1 2012: R+18.7 2008: R+6.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -116.09%
• Current HPI: 176.5386
• 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

+112.0% since first listed

23 events — show timeline

• 2026-05-18 Pending — REALCOMP
• 2026-05-18 Pending — MiRealSource-MiMLS
• 2026-02-23 Listed $265,000 MiRealSource-MiMLS
• 2026-02-23 Listed $265,000 REALCOMP
• 2026-01-01 Listing Removed — MiRealSource-MiMLS
• 2025-12-31 Listing Removed — REALCOMP
• 2025-07-21 Price Changed $265,000 MiRealSource-MiMLS
• 2025-07-21 Price Changed $265,000 REALCOMP
• 2025-05-21 Relisted — REALCOMP
• 2025-05-21 Listing Removed — REALCOMP
• 2025-04-22 Relisted — REALCOMP
• 2025-04-22 Listing Removed — REALCOMP
• 2025-04-02 Relisted — REALCOMP
• 2025-04-02 Relisted — MiRealSource-MiMLS
• 2025-04-01 Listing Removed — MiRealSource-MiMLS
• 2025-03-31 Listing Removed — REALCOMP
• 2025-01-14 Listed $300,000 REALCOMP
• 2025-01-12 Listed $300,000 MiRealSource-MiMLS
• 2016-03-11 Listing Removed — HARMLS
• 2016-01-19 Price Changed $88,000 HARMLS
• 2015-12-07 Listed $90,000 HARMLS
• 2014-10-17 Listing Removed — SW Michigan MLS
• 1997-07-10 Listed $125,000 SW Michigan MLS