2582 E Michigan St · Free Soil, MI 49411

$89,900

4 bd · 1.0 ba · 1,408 sqft · SingleFamily public records · 60 Days on market

Built 1900 0.39 ac 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

Listing remarks MLS

This two-story home has solid bones and a layout that truly works, offering the perfect opportunity for someone ready to bring fresh life into a great structure. While it could use cosmetic updates and redecorating, the fundamentals are strong -- making it an ideal fit for investors, flippers, or buyers looking to get into a home at a lower price and make it their own. Inside, you'll find generous room sizes, a functional floor plan, and the kind of character newer builds can't replicate. With the right vision, this property can easily transform into a warm, stylish, and personalized ''home sweet home. ''Whether you're looking for your next project or a place to build equity through updates, this home delivers value, potential, and opportunity.

Key facts

• 0.39 acre lot
• Built 1900
• Listed 60 days

Property features AI

Exterior

• Utilities: Well water; Propane water heater; Cable connected
• Home design: Single-family residence; Other architectural style; 1900 construction; Metal roof; Faces east (house is on the east side of town on the north side of the road)
• Construction: Vinyl siding
• Exterior features: Paved road access; 0.39-acre lot

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating
• Interior features: LP tank is rented; 9 total rooms

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $472 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#517 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: schools F, crime F, amenities F.
• Mason County Eastern Schools (rural): math 26% / reading 40% proficiency, ranked #496 of 760 in MI (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 50 active listings in the ZIP; 177 units permitted in Mason County in 2024 (97 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Mason County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 24y 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 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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. 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: 1.54% ✓
• Cap rate: 12.60%
• Cash-on-cash: 22.51%
• DSCR: 2.00
• GRM: 5.4

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: 15.4%
• Equity multiple: 1.62×
• Total profit: $15,528
• Equity at exit: $13,404

10-year hold

• IRR: 24.0%
• Equity multiple: 3.08×
• Total profit: $52,332
• Equity at exit: $7,773

Cash invested: $25,172 (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 49411

• Home prices YoY: -21.7%
• Active inventory: 50
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,384 medium
• Mortgage (P&I): −$471
• Tax est. 1.5%: −$112 /mo · $1,348/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $472

Break-even live

Break-even rent $786

Max offer price $89,900

Occupancy floor 61%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-13
   days on market $89,900 Active 60 DOM
2. 2026-06-12
   days on market $89,900 Active 59 DOM
3. 2026-06-09
   days on market $89,900 Active 56 DOM
4. 2026-06-08
   days on market $89,900 Active 55 DOM
5. 2026-06-07
   days on market $89,900 Active 54 DOM
6. 2026-06-07
   days on market $89,900 Active 53 DOM
7. 2026-06-04
   days on market $89,900 Active 50 DOM
8. 2026-06-02
   days on market $89,900 Active 49 DOM
9. 2026-06-01
   days on market $89,900 Active 48 DOM
10. 2026-05-31
    days on market $89,900 Active 47 DOM
11. 2026-05-31
    days on market $89,900 Active 46 DOM
12. 2026-04-13
    listed $89,900 Active

    Show marketing remark (754 chars)

    This two-story home has solid bones and a layout that truly works, offering the perfect opportunity for someone ready to bring fresh life into a great structure. While it could use cosmetic updates and redecorating, the fundamentals are strong -- making it an ideal fit for investors, flippers, or buyers looking to get into a home at a lower price and make it their own. Inside, you'll find generous room sizes, a functional floor plan, and the kind of character newer builds can't replicate. With the right vision, this property can easily transform into a warm, stylish, and personalized ''home sweet home. ''Whether you're looking for your next project or a place to build equity through updates, this home delivers value, potential, and opportunity.

13. 2026-04-13
    listed $89,900 Active 754-char remark

    Show marketing remark (754 chars)

    This two-story home has solid bones and a layout that truly works, offering the perfect opportunity for someone ready to bring fresh life into a great structure. While it could use cosmetic updates and redecorating, the fundamentals are strong -- making it an ideal fit for investors, flippers, or buyers looking to get into a home at a lower price and make it their own. Inside, you'll find generous room sizes, a functional floor plan, and the kind of character newer builds can't replicate. With the right vision, this property can easily transform into a warm, stylish, and personalized ''home sweet home. ''Whether you're looking for your next project or a place to build equity through updates, this home delivers value, potential, and opportunity.

14. 2026-04-13
    listed $89,900 Active 754-char remark

    Show marketing remark (754 chars)

    This two-story home has solid bones and a layout that truly works, offering the perfect opportunity for someone ready to bring fresh life into a great structure. While it could use cosmetic updates and redecorating, the fundamentals are strong -- making it an ideal fit for investors, flippers, or buyers looking to get into a home at a lower price and make it their own. Inside, you'll find generous room sizes, a functional floor plan, and the kind of character newer builds can't replicate. With the right vision, this property can easily transform into a warm, stylish, and personalized ''home sweet home. ''Whether you're looking for your next project or a place to build equity through updates, this home delivers value, potential, and opportunity.

15. 2014-09-15
    historical
16. 2003-12-01
    historical
17. 2002-11-04
    listed $62,900
18. 2002-11-04
    listed $62,900

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥95°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,610
• − Mortgage interest: −$5,036
• − Property taxes: −$1,348
• − Insurance: −$450
• − Repairs & maintenance: −$1,329
• − Management: −$1,329
• − Depreciation: −$2,615
• Taxable income: $4,503
• Est. tax owed @ 24.0%: −$1,081
• After-tax cash flow: $4,586/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: Mason County Eastern Schools
• NCES district ID: 2623160
• Math proficiency: 26% ▬ 0.00%
• Reading proficiency: 40% ▲ 5.00%
• Median HH income: $38,432
• Composite: 30.27/100
• National rank: #11559
• State rank: #496 of 760 in MI

Livability — Free Soil

• Score: 63/100
• State rank: #517
• US rank: #15513

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Free Soil, MI
• Population (ZIP): 1,672

Population outlook (Mason County) Hauer SSP2

• Today (2025): 28,828 people
• By 2030: 28,407 · -1.5%
• By 2040: 27,183 · -5.7%
• By 2050: 26,171 · -9.2%
• By 2075: 24,057 · -16.5%
• By 2100: 20,240 · -29.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Romanian 17% Iranian 5% Lithuanian 5%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Mason

• 2024 margin: Strong R (+21.4) · D 38.6% · R 60.0% · Other 1.4%
• 2008→2024 swing: -25.8pp toward R · 2008: 4.4pp · 2024: -21.4pp
• All cycles: 2024: R+21.4 2020: R+19.7 2016: R+22.0 2012: R+5.0 2008: D+4.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -56.48%
• Current HPI: 203.5765
• 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

+42.9% since first listed

7 events — show timeline

• 2026-04-13 Listed $89,900 REALCOMP
• 2026-04-13 Listed $89,900 MiRealSource-MiMLS
• 2026-04-13 Listed $89,900 SW Michigan MLS
• 2014-09-15 Listing Removed — SW Michigan MLS
• 2003-12-01 Listing Removed — REALCOMP
• 2002-11-04 Listed $62,900 REALCOMP
• 2002-11-04 Listed $62,900 SW Michigan MLS