3481-3489 S Summerton Rd · Chippewa, MI 48858

$319,900

40 bd · 20.0 ba · — sqft · MultiFamily · 6 Days on market

Built 1972 1.00 ac lot

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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
• Rent growth +5.0/5.0
• Schools +3.3/10.0
• Livability +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 (2-4 Unit). Listing-text estimate: 5 units. estimate disagrees with records

Listing remarks MLS

INVESTORS! Awesome opportunity to own a 4-unit multifamily property featuring two duplexes on one lot! Each unit is occupied and offers 2 bedrooms and 1 bathroom. Major updates include new roofs installed approximately 5 years ago, fresh exterior paint, and updated flooring and interior paint throughout all units. Tenants pay electric (including heat), while owner covers trash and lawn care. Rents have recently been increased! Close to Central Michigan University and shopping/restaurants on M-20! Strong cash-flow opportunity- call today for showing instructions, financials available upon request.

Key facts

• Updated flooring
• Fresh exterior paint
• New roofs installed

Tags

• 4 UNIT MULTIFAMILY PROPERTY
• TWO DUPLEXES ON ONE LOT
• NEW ROOFS INSTALLED
• FRESH EXTERIOR PAINT
• UPDATED FLOORING
• UPDATED INTERIOR PAINT

Property features AI

Finance

• Other: Zoning described as Other
• Financial info: Income-producing multi-family units (several 2-bedroom units; listed unit rents shown at $850 each)

Exterior

• Parking: 8 parking spaces total
• Utilities: Private well water; Septic tank sewer; Electricity connected; Natural gas connected
• Home design: Residential income property — multi-family
• Construction: Aluminum siding and stone exterior; Slab foundation
• Exterior features: 1-acre lot; Corner lot at Summerton and E Tomah

Interior

• Kitchen: Standard kitchens in each unit (appliances not specified)
• Bedrooms: Multiple 2-bedroom units
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Electric baseboard heating; Wall-mounted air conditioning units
• Interior features: Each unit has an air conditioning wall unit; Washer/dryer hookup in each unit
• Laundry & utility: In-unit laundry hookups

What this means for you Summary

Snapshot

• This is a 5 × 8-bed/?-bath units multifamily listed at $320k.

Deal economics

• At list price, monthly cash flow is $5k ($59k/yr) — positive. Per door: $979/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $320k).

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Mt. Pleasant City School District (town): math 33% / reading 48% proficiency, ranked #229 of 540 in MI (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+16.9%/yr); 249 active listings in the ZIP; 72 units permitted in Isabella County in 2024 (0 in 5+ unit buildings).
• At $8,996/mo this rent would consume 211% of the median local household income ($51k/yr) (locally 2381% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Isabella County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $90k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 11y 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.
• Current owner paid $166k; list at $320k implies a 93% gain — meaningful room to come down on a strong offer.

Recommended offer $319,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 2.81% ✓
• Cap rate: 24.66%
• Cash-on-cash: 65.59%
• DSCR: 3.92
• GRM: 3.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 70.4%
• Equity multiple: 4.43×
• Total profit: $307,674
• Equity at exit: $47,698

10-year hold

• IRR: 75.9%
• Equity multiple: 10.90×
• Total profit: $886,387
• Equity at exit: $27,659

Cash invested: $89,572 (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 48858

• Home prices YoY: -31.9%
• Rents YoY: 16.9%
• Active inventory: 249
• Price-to-rent: 14.8×

Monthly cashflow live

• Estimated rent: $8,996 medium
• Mortgage (P&I): −$1,678
• Tax est. 1.5%: −$400 /mo · $4,798/yr
• Insurance: −$133
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,889
• Net cashflow: $4,896

Break-even live

Break-even rent $2,798

Max offer price $319,900

Occupancy floor 41%

Sensitivity live

Price	-10% $5,117	-5% $5,007	+0% $4,896	+5% $4,786	+10% $4,675
Rent	-10% $4,185	-5% $4,541	+0% $4,896	+5% $5,251	+10% $5,607
Rate	-1.0pp $5,057	-0.5pp $4,977	base $4,896	+0.5pp $4,813	+1.0pp $4,729

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

Units	Beds	Baths	Est. rent
▸ 5× units	8	—	$8,995
Total (5 units)			$8,996

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: $79,975
• Closing costs: $9,597
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-21
   days on market $319,900 Active 6 DOM
2. 2026-06-19
   days on market $319,900 Active 4 DOM
3. 2026-06-18
   days on market $319,900 Active 3 DOM
4. 2026-06-17
   days on market $319,900 Active 2 DOM
5. 2026-06-16
   remarks 603-char remark
6. 2026-06-16
   listed $319,900 Active 1 DOM

ⓘ 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: $107,952
• − Mortgage interest: −$17,919
• − Property taxes: −$4,798
• − Insurance: −$1,600
• − Repairs & maintenance: −$8,636
• − Management: −$8,636
• − Depreciation: −$9,306
• Taxable income: $57,056
• Est. tax owed @ 24.0%: −$13,693
• After-tax cash flow: $45,060/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: Mt. Pleasant City School District
• NCES district ID: 2624750
• Math proficiency: 33% ▼ -5.00%
• Reading proficiency: 48% ▼ -3.00%
• Median HH income: $32,344
• Composite: 33.16/100
• National rank: #5548
• State rank: #229 of 540 in MI

Livability — Chippewa

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

Census & demographics

• County: Isabella County · 42,226 people
• Metro: Mount Pleasant, MI
• Population (ZIP): 42,226
• Household income: $51,267
• Rent vs Own: 50.2% rent · 49.8% own
• Severe rent burden: 2381.0

Population outlook (Isabella County) Hauer SSP2

• Today (2025): 75,111 people
• By 2030: 77,600 · +3.3%
• By 2040: 79,890 · +6.4%
• By 2050: 81,568 · +8.6%
• By 2075: 86,602 · +15.3%
• By 2100: 92,201 · +22.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Two or more races 6% Hispanic / Latino 5% Native American 4% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Romanian 6% Slovak 3% Iranian 3%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% German/W. Germanic 0%

Political lean MEDSL · Isabella

• 2024 margin: Lean R (+7.5) · D 45.5% · R 53.0% · Other 1.6%
• 2008→2024 swing: -26.7pp toward R · 2008: 19.2pp · 2024: -7.5pp
• All cycles: 2024: R+7.5 2020: R+2.5 2016: R+3.7 2012: D+9.3 2008: D+19.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -96.75%
• Current HPI: 206.1153
• Rent YoY: ▲ 16.89%
• Metro: Mount Pleasant, 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

+120.6% since first listed

6 events — show timeline

• 2026-06-15 Listed $319,900 REALCOMP
• 2026-06-15 Listed $319,900 MiRealSource-MiMLS
• 2021-10-05 Sold (MLS) $166,000 REALCOMP
• 2021-06-23 Listed $165,000 REALCOMP
• 2016-01-08 Listing Removed — REALCOMP
• 2015-07-08 Listed $145,000 REALCOMP