2430 Virginia Park Dr · Lapeer, MI 48446

$230,000

3 bd · 1.0 ba · 960 sqft · SingleFamily public records · 14 Days on market

Built 1972 0.50 ac lot $240/sqft · 63% above area Est $273k · 16% under

---

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 +14.7/15.0
• Cash flow +7.6/30.0
• Livability +3.6/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.7/10.0
• 1% rule +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 3-Bedroom Ranch on Half an Acre in a Serene Country Neighborhood Discover the perfect blend of country tranquility and neighborhood convenience with this inviting ranch home. Nestled on a spacious half-acre lot, this property offers room to roam, garden, and enjoy outdoor living while still being part of a welcoming community. Walk into the cozy living room that provides plenty of natural light. The spacious kitchen lends itself for hosting family parties and holidays. The easy layout makes for a wonderful flowing home. Plenty of extra room in the large finished basement for more areas to spread out and enjoy. Schedule your private showing today and make this country retreat your new home!

Key facts

• 0.5 acre lot
• 2 garage spots
• Built 1972

Property features AI

Finance

• Other: Lot roughly 0.5 acres (dimensions ~113 x 191); No pool

Exterior

• Parking: Attached garage with garage door opener; Approximately 2.5 garage spaces
• Security: Smoke detectors; Carbon monoxide detectors
• Utilities: Private well water; Septic tank sewer
• Home design: Single family residence; One level; Ground-level entry with steps; Vinyl siding
• Construction: Asphalt roof; Block foundation; Built with vinyl siding
• Exterior features: Deck; Porch; Paved road access

Interior

• Kitchen: Dishwasher; Free-standing electric range; Microwave; Free-standing refrigerator
• Bedrooms: 6 total rooms (includes bedrooms and living areas)
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard electric heating; No central air conditioning
• Interior features: Finished basement; Gas fireplace in the living room; Water softener (owned); Lighting
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $-275 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $181k (21.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $149k (35.3% below list).
• Recommended offer: $149k (35.3% below list) — sets the bar for 1% rule.
• Cap rate 4.9% vs local median 3.5% in Lapeer — 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 72/100 on livability (#231 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: employment D, commute F.
• Lapeer Community Schools (town): math 31% / reading 49% proficiency, ranked #202 of 540 in MI (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Elva Lynch Elementary School (math 32% / reading 42%, grade F, #685 of 1,397 statewide, top 51%, 421 students, 58% FRL); Rolland Warner Campus 67 (math 25% / reading 39%, grade F, #317 of 493 statewide, top 65%, 576 students, 58% FRL); Lapeer High School (math 29% / reading 55%, grade F, #264 of 713 statewide, top 41%, 1,196 students, 41% FRL).
• Market conditions: 196 active listings in the ZIP; 152 units permitted in Lapeer 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 $7k of value loss. Plan a longer hold.
• Lapeer County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 26y 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.

Recommended offer $148,835 (35.3% 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 1972 — 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 D-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. 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?
6. 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.
7. 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.
8. 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: 0.65% ✗
• Cap rate: 4.86%
• Cash-on-cash: -5.13%
• DSCR: 0.77
• GRM: 12.9

CMA / ARV

• ARV (median comp): $273,467
• List price: $230,000
• Delta: -15.89%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2366 Virginia Park Dr	0.16mi	3/1.0	960 (0%)	1mo	$214,900	$224	92
2415 King Rd	0.28mi	3/1.0	1,100 (+15%)	20mo	$264,000	$240	46
2124 Vernor Rd	0.57mi	3/1.5	1,046 (+9%)	13mo	$255,000	$244	45

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: -25.1%
• Equity multiple: 0.15×
• Total profit: $-54,876
• Equity at exit: $34,294

10-year hold

• IRR: -21.2%
• Equity multiple: -0.10×
• Total profit: $-70,629
• Equity at exit: $19,886

Cash invested: $64,400 (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 48446

• Active inventory: 196
• Price-to-rent: 12.9×

Monthly cashflow live

• Estimated rent: $1,488 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$149 /mo · $1,791/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $-275

Break-even live

Break-even rent $1,837

Max offer price $181,341

Occupancy floor —

Sensitivity live

Price	-10% $-145	-5% $-210	+0% $-275	+5% $-341	+10% $-406
Rent	-10% $-393	-5% $-334	+0% $-275	+5% $-217	+10% $-158
Rate	-1.0pp $-160	-0.5pp $-217	base $-275	+0.5pp $-335	+1.0pp $-396

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-05-14
   listed $230,000 Active 707-char remark

   Show marketing remark (707 chars)

   Charming 3-Bedroom Ranch on Half an Acre in a Serene Country Neighborhood Discover the perfect blend of country tranquility and neighborhood convenience with this inviting ranch home. Nestled on a spacious half-acre lot, this property offers room to roam, garden, and enjoy outdoor living while still being part of a welcoming community. Walk into the cozy living room that provides plenty of natural light. The spacious kitchen lends itself for hosting family parties and holidays. The easy layout makes for a wonderful flowing home. Plenty of extra room in the large finished basement for more areas to spread out and enjoy. Schedule your private showing today and make this country retreat your new home!

2. 2026-05-14
   listed $230,000 Active 707-char remark

   Show marketing remark (707 chars)

   Charming 3-Bedroom Ranch on Half an Acre in a Serene Country Neighborhood Discover the perfect blend of country tranquility and neighborhood convenience with this inviting ranch home. Nestled on a spacious half-acre lot, this property offers room to roam, garden, and enjoy outdoor living while still being part of a welcoming community. Walk into the cozy living room that provides plenty of natural light. The spacious kitchen lends itself for hosting family parties and holidays. The easy layout makes for a wonderful flowing home. Plenty of extra room in the large finished basement for more areas to spread out and enjoy. Schedule your private showing today and make this country retreat your new home!

3. 2026-05-12
   historical $230,000 707-char remark

   Show marketing remark (707 chars)

   Charming 3-Bedroom Ranch on Half an Acre in a Serene Country Neighborhood Discover the perfect blend of country tranquility and neighborhood convenience with this inviting ranch home. Nestled on a spacious half-acre lot, this property offers room to roam, garden, and enjoy outdoor living while still being part of a welcoming community. Walk into the cozy living room that provides plenty of natural light. The spacious kitchen lends itself for hosting family parties and holidays. The easy layout makes for a wonderful flowing home. Plenty of extra room in the large finished basement for more areas to spread out and enjoy. Schedule your private showing today and make this country retreat your new home!

4. 2022-04-12
   historical

   Show marketing remark (771 chars)

   Beautiful home updated with the highest amenities including planked hickory cabinets with roll out shelves, wood flooring and newer Berber carpet. All appliances included in Kitchen and Laundry room. All bedrooms have nice size closets. Windows are in good shape. Updated bathroom with linen closet. Attic fan works great! Livingroom has electric fireplace with remote, with a big bay window. Finished basement with 2 extra rooms , and a great room for entertainment. lots of storage and space. Attached 2 car garage with electricity with back door. Also the Garage has a garage door opener. Large yard with an electric underwire dog fence in the front yard and backyard, just will need the box to set it up. Lots of updates, Make an offer today, this home will go fast.

5. 2022-02-23
   soldstatus $212,500
6. 2022-02-11
   soldstatus $217,000 Sold

   Show marketing remark (771 chars)

   Beautiful home updated with the highest amenities including planked hickory cabinets with roll out shelves, wood flooring and newer Berber carpet. All appliances included in Kitchen and Laundry room. All bedrooms have nice size closets. Windows are in good shape. Updated bathroom with linen closet. Attic fan works great! Livingroom has electric fireplace with remote, with a big bay window. Finished basement with 2 extra rooms , and a great room for entertainment. lots of storage and space. Attached 2 car garage with electricity with back door. Also the Garage has a garage door opener. Large yard with an electric underwire dog fence in the front yard and backyard, just will need the box to set it up. Lots of updates, Make an offer today, this home will go fast.

7. 2022-02-11
   soldstatus $217,000 Closed

   Show marketing remark (771 chars)

   Beautiful home updated with the highest amenities including planked hickory cabinets with roll out shelves, wood flooring and newer Berber carpet. All appliances included in Kitchen and Laundry room. All bedrooms have nice size closets. Windows are in good shape. Updated bathroom with linen closet. Attic fan works great! Livingroom has electric fireplace with remote, with a big bay window. Finished basement with 2 extra rooms , and a great room for entertainment. lots of storage and space. Attached 2 car garage with electricity with back door. Also the Garage has a garage door opener. Large yard with an electric underwire dog fence in the front yard and backyard, just will need the box to set it up. Lots of updates, Make an offer today, this home will go fast.

8. 2022-01-16
   status Pending

   Show marketing remark (771 chars)

   Beautiful home updated with the highest amenities including planked hickory cabinets with roll out shelves, wood flooring and newer Berber carpet. All appliances included in Kitchen and Laundry room. All bedrooms have nice size closets. Windows are in good shape. Updated bathroom with linen closet. Attic fan works great! Livingroom has electric fireplace with remote, with a big bay window. Finished basement with 2 extra rooms , and a great room for entertainment. lots of storage and space. Attached 2 car garage with electricity with back door. Also the Garage has a garage door opener. Large yard with an electric underwire dog fence in the front yard and backyard, just will need the box to set it up. Lots of updates, Make an offer today, this home will go fast.

9. 2022-01-16
   status Pending

   Show marketing remark (771 chars)

   Beautiful home updated with the highest amenities including planked hickory cabinets with roll out shelves, wood flooring and newer Berber carpet. All appliances included in Kitchen and Laundry room. All bedrooms have nice size closets. Windows are in good shape. Updated bathroom with linen closet. Attic fan works great! Livingroom has electric fireplace with remote, with a big bay window. Finished basement with 2 extra rooms , and a great room for entertainment. lots of storage and space. Attached 2 car garage with electricity with back door. Also the Garage has a garage door opener. Large yard with an electric underwire dog fence in the front yard and backyard, just will need the box to set it up. Lots of updates, Make an offer today, this home will go fast.

10. 2022-01-12
    listed $217,000 Active

    Show marketing remark (771 chars)

    Beautiful home updated with the highest amenities including planked hickory cabinets with roll out shelves, wood flooring and newer Berber carpet. All appliances included in Kitchen and Laundry room. All bedrooms have nice size closets. Windows are in good shape. Updated bathroom with linen closet. Attic fan works great! Livingroom has electric fireplace with remote, with a big bay window. Finished basement with 2 extra rooms , and a great room for entertainment. lots of storage and space. Attached 2 car garage with electricity with back door. Also the Garage has a garage door opener. Large yard with an electric underwire dog fence in the front yard and backyard, just will need the box to set it up. Lots of updates, Make an offer today, this home will go fast.

11. 2022-01-12
    listed $217,000 Active

    Show marketing remark (771 chars)

    Beautiful home updated with the highest amenities including planked hickory cabinets with roll out shelves, wood flooring and newer Berber carpet. All appliances included in Kitchen and Laundry room. All bedrooms have nice size closets. Windows are in good shape. Updated bathroom with linen closet. Attic fan works great! Livingroom has electric fireplace with remote, with a big bay window. Finished basement with 2 extra rooms , and a great room for entertainment. lots of storage and space. Attached 2 car garage with electricity with back door. Also the Garage has a garage door opener. Large yard with an electric underwire dog fence in the front yard and backyard, just will need the box to set it up. Lots of updates, Make an offer today, this home will go fast.

12. 2022-01-11
    historical $217,000

    Show marketing remark (771 chars)

    Beautiful home updated with the highest amenities including planked hickory cabinets with roll out shelves, wood flooring and newer Berber carpet. All appliances included in Kitchen and Laundry room. All bedrooms have nice size closets. Windows are in good shape. Updated bathroom with linen closet. Attic fan works great! Livingroom has electric fireplace with remote, with a big bay window. Finished basement with 2 extra rooms , and a great room for entertainment. lots of storage and space. Attached 2 car garage with electricity with back door. Also the Garage has a garage door opener. Large yard with an electric underwire dog fence in the front yard and backyard, just will need the box to set it up. Lots of updates, Make an offer today, this home will go fast.

13. 2022-01-11
    historical $217,000

    Show marketing remark (771 chars)

    Beautiful home updated with the highest amenities including planked hickory cabinets with roll out shelves, wood flooring and newer Berber carpet. All appliances included in Kitchen and Laundry room. All bedrooms have nice size closets. Windows are in good shape. Updated bathroom with linen closet. Attic fan works great! Livingroom has electric fireplace with remote, with a big bay window. Finished basement with 2 extra rooms , and a great room for entertainment. lots of storage and space. Attached 2 car garage with electricity with back door. Also the Garage has a garage door opener. Large yard with an electric underwire dog fence in the front yard and backyard, just will need the box to set it up. Lots of updates, Make an offer today, this home will go fast.

14. 2013-10-29
    soldstatus $92,000
15. 2013-10-25
    soldstatus $92,000
16. 2013-10-25
    soldstatus $92,000
17. 2013-09-04
    historical
18. 2013-09-04
    historical
19. 2013-08-27
    listed $99,900
20. 2013-08-27
    listed $99,900
21. 2000-11-20
    soldstatus $134,000
22. 2000-10-31
    historical
23. 2000-07-18
    listed $137,900

ⓘ 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: $1,791 · $149/mo
• Projected year-2 tax: $2,667 · $222/mo
• Expected delta: +$875/yr (+$73/mo · 48.9%)

ⓘ 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 2/10 Low 7 d/yr ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,860
• − Mortgage interest: −$12,884
• − Property taxes: −$1,791
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,429
• − Management: −$1,429
• − Depreciation: −$6,691
• Taxable loss: −$7,513
• Est. tax savings @ 24.0%: +$1,803
• After-tax cash flow: $-1,502/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: Lapeer Community Schools
• NCES district ID: 2621180
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 49% ▼ -4.00%
• Median HH income: $53,749
• Composite: 34.79/100
• National rank: #5113
• State rank: #202 of 540 in MI

Livability — Lapeer

• Score: 72/100
• State rank: #231
• US rank: #5855

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lapeer County · 30,581 people
• City population: 30,581
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 30,581
• Household income: $66,062
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 908.0

Population outlook (Lapeer County) Hauer SSP2

• Today (2025): 89,826 people
• By 2030: 89,535 · -0.3%
• By 2040: 86,695 · -3.5%
• By 2050: 80,566 · -10.3%
• By 2075: 65,783 · -26.8%
• By 2100: 46,584 · -48.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 6% Hispanic / Latino 3% Black 3%
• Common ancestry: Romanian 6% Lithuanian 4% Slovak 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Lapeer

• 2024 margin: Solid R (+39.8) · D 29.5% · R 69.3% · Other 1.3%
• 2008→2024 swing: -36.8pp toward R · 2008: -3.0pp · 2024: -39.8pp
• All cycles: 2024: R+39.8 2020: R+36.3 2016: R+38.3 2012: R+11.5 2008: R+3.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -243.58%
• Current HPI: 212.3665
• Rent YoY: —
• Metro: Detroit-Warren-Dearborn, MI
• 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

+66.8% since first listed

25 events — show timeline

• 2026-05-27 Pending — MiRealSource-MiMLS
• 2026-05-27 Pending — REALCOMP
• 2026-05-14 Listed $230,000 MiRealSource-MiMLS
• 2026-05-14 Listed $230,000 REALCOMP
• 2026-05-12 Coming Soon $230,000 MiRealSource-MiMLS
• 2022-04-12 Listing Removed — REALCOMP
• 2022-02-23 Sold (Public Records) $212,500 Public Records
• 2022-02-11 Sold (MLS) $217,000 MiRealSource-MiMLS
• 2022-02-11 Sold (MLS) $217,000 REALCOMP
• 2022-01-16 Pending — MiRealSource-MiMLS
• 2022-01-16 Pending — REALCOMP
• 2022-01-12 Listed $217,000 MiRealSource-MiMLS
• 2022-01-12 Listed $217,000 REALCOMP
• 2022-01-11 Coming Soon $217,000 MiRealSource-MiMLS
• 2022-01-11 Coming Soon $217,000 REALCOMP
• 2013-10-29 Sold (Public Records) $92,000 Public Records
• 2013-10-25 Sold (MLS) $92,000 MiRealSource-MiMLS
• 2013-10-25 Sold (MLS) $92,000 REALCOMP
• 2013-09-04 Listing Removed — MiRealSource-MiMLS
• 2013-09-04 Listing Removed — REALCOMP
• 2013-08-27 Listed $99,900 MiRealSource-MiMLS
• 2013-08-27 Listed $99,900 REALCOMP
• 2000-11-20 Sold (MLS) $134,000 MiRealSource-MiMLS
• 2000-10-31 Listing Removed — MiRealSource-MiMLS
• 2000-07-18 Listed $137,900 MiRealSource-MiMLS

Property tax history

+6.1%/yr

Latest (2025): $1,791 · +5.2% YoY. Source: county tax records.