58289 Culpepper St · Washington, MI 48049

$72,000

3 bd · 1.0 ba · 1,876 sqft · Other public records · 21 Days on market

Built 1998

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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
• Schools +4.2/10.0
• 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

Come check this one out before it's gone! This community has a pool, and a gym! It also has a club house that you can rent. This property is a short drive to Stony Metro Park. Buyer must be approved by the park in order to buy. Buyer to verify all information.

Key facts

• Pool
• Gym
• Club house

Tags

• POOL
• GYM
• CLUB HOUSE

Property features AI

Finance

• Other: Residential property
• HOA & community: Homeowners association with monthly fee

Exterior

• Utilities: Public water; Public sewer
• Home design: Manufactured home; One-story
• Construction: 1,876 above-grade finished square feet
• Exterior features: No pool; Subdivision: EAST VILLAGE ESTATES

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Crawl space basement; 3 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $72k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $72k).
• Recommended offer: $71k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Romeo Community Schools (suburban): math 43% / reading 51% proficiency, ranked #102 of 540 in MI (top 19%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 41 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); 1,321 units permitted in Macomb County in 2024 (86 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $498 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Macomb County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($71k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $8k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $70,920 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 3.26% ✓
• Cap rate: 28.89%
• Cash-on-cash: 80.70%
• DSCR: 4.59
• GRM: 2.6

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: 80.9%
• Equity multiple: 4.71×
• Total profit: $74,723
• Equity at exit: $10,735

10-year hold

• IRR: 84.3%
• Equity multiple: 9.75×
• Total profit: $176,406
• Equity at exit: $6,225

Cash invested: $20,160 (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 48049

• Home prices YoY: -22.2%
• Active inventory: 41
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $2,346 high
• Mortgage (P&I): −$378
• Tax est. 1.5%: −$90 /mo · $1,080/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$493
• Net cashflow: $1,356

Break-even live

Break-even rent $630

Max offer price $72,000

Occupancy floor 37%

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: $18,000
• Closing costs: $2,160
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8891 Christopher St Washington, MI	2.0–3.0	2.0–2.5	1416	$2,410	$1.70	1d	10	0.43mi
8783 Pioneer St Washington, MI	2.0	2.5	1480	$2,700	$1.82	24d	1	0.55mi
8727 Pioneer St Washington, MI	3.0	2.5	1777	$2,750	$1.55	43d	1	0.63mi
Capital Cir Washington, MI	3.0	3.0	1500	$1,735	$1.16	10d	1	0.77mi
7770 Newbury Cir Washington, MI	2.0–3.0	2.5	1535	$2,195	$1.43	1d	4	0.88mi
7770 Newbury Cir Washington, MI	2.0	2.5	1310	$2,100	$1.60	21d	1	0.88mi
7899 Sal Mar Way Unit 7899 Shelby Township, MI	2.0	2.5	1545	$1,875	$1.21	1d	1	1.47mi

Listing history 17 events

1. 2026-06-18
   days on market $72,000 Active 21 DOM
2. 2026-06-17
   days on market $72,000 Active 20 DOM
3. 2026-06-16
   days on market $72,000 Active 19 DOM
4. 2026-06-15
   remarks 332-char remark
5. 2026-06-15
   price $72,000 Active 18 DOM
6. 2026-06-15
   days on market $80,000 Active 18 DOM
7. 2026-06-13
   days on market $80,000 Active 16 DOM
8. 2026-06-09
   days on market $80,000 Active 12 DOM
9. 2026-06-08
   days on market $80,000 Active 11 DOM
10. 2026-06-07
    days on market $80,000 Active 10 DOM
11. 2026-06-04
    days on market $80,000 Active 7 DOM
12. 2026-06-03
    days on market $80,000 Active 6 DOM
13. 2026-06-02
    days on market $80,000 Active 5 DOM
14. 2026-06-01
    days on market $80,000 Active 4 DOM
15. 2026-05-31
    days on market $80,000 Active 3 DOM
16. 2026-05-28
    listed $80,000 Active 260-char remark

    Show marketing remark (260 chars)

    Come check this one out before it's gone! This community has a pool, and a gym! It also has a club house that you can rent. This property is a short drive to Stony Metro Park. Buyer must be approved by the park in order to buy. Buyer to verify all information.

17. 2026-05-28
    listed $80,000 Active

    Show marketing remark (260 chars)

    Come check this one out before it's gone! This community has a pool, and a gym! It also has a club house that you can rent. This property is a short drive to Stony Metro Park. Buyer must be approved by the park in order to buy. Buyer to verify all information.

ⓘ 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: $28,153
• − Mortgage interest: −$4,033
• − Property taxes: −$1,080
• − Insurance: −$360
• − Repairs & maintenance: −$2,252
• − Management: −$2,252
• − Depreciation: −$2,095
• Taxable income: $16,081
• Est. tax owed @ 24.0%: −$3,859
• After-tax cash flow: $12,411/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: Romeo Community Schools
• NCES district ID: 2630090
• Math proficiency: 43% ▼ -5.00%
• Reading proficiency: 51% ▼ -8.00%
• Median HH income: $73,121
• Composite: 42.48/100
• National rank: #3212
• State rank: #102 of 540 in MI

Livability — Washington

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

Census & demographics

• City population: 20,736
• Population (ZIP): 5,485

Population outlook (Macomb County) Hauer SSP2

• Today (2025): 925,296 people
• By 2030: 948,226 · +2.5%
• By 2040: 983,961 · +6.3%
• By 2050: 1,010,200 · +9.2%
• By 2075: 1,076,222 · +16.3%
• By 2100: 1,077,065 · +16.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Romanian 10% Lithuanian 6% Slovak 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Arabic 1% Spanish 1%

Political lean MEDSL · Macomb

• 2024 margin: R (+13.7) · D 42.2% · R 55.9% · Other 1.9%
• 2008→2024 swing: -22.3pp toward R · 2008: 8.6pp · 2024: -13.7pp
• All cycles: 2024: R+13.7 2020: R+8.1 2016: R+11.6 2012: D+4.0 2008: D+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -57.37%
• Current HPI: 201.1257
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-28 Listed $80,000 REALCOMP
• 2026-05-28 Listed $80,000 MiRealSource-MiMLS