330 N Main St · St. Louis, MI 48880

$113,500

4 bd · 1.5 ba · 1,668 sqft · SingleFamily · 303 Days on market

Built 1890 6,970 sqft lot $68/sqft · 29% below area Est $159k · 29% under

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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 +27.2/30.0
• ARV discount +15.0/15.0
• DSCR +9.4/10.0
• 1% rule +6.2/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Opportunity to own this single-family home built in 1960 featuring 3 bedrooms and 2 bathrooms. * * * SPECIAL NOTES: (1) This is a CASH ONLY transaction. (2) Seller to pay Taxes, HOA, and Municipal/Utility Liens. (3) Please read the Auction disclaimers carefully before placing a bid or submitting an offer. * * * Occupied Reserve Auction--The seller does not have access to the property. The property is occupied and the occupants are not to be disturbed or contacted under any circumstances. Interior inspections are not available and property is being sold as is. Please do not trespass. "As is" sale with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing.

Key facts

• 6,970 sq ft lot
• Built 1890
• Listed 302 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $114k.

Deal economics

• At list price, monthly cash flow is $323 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $114k).
• Recommended offer: $100k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 5.5% in St. Louis — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• St. Louis Public Schools (town): math 19% / reading 37% proficiency, ranked #397 of 540 in MI (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 28 active listings in the ZIP; 47 units permitted in Gratiot County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $785 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Gratiot County population projected at -14% 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 $32k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 303 days — a 12% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y 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 $88k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,880 (12.0% below list)

Questions for the listing agent

1. It's been on market 303 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.12% ✓
• Cap rate: 9.71%
• Cash-on-cash: 12.21%
• DSCR: 1.54
• GRM: 7.4

CMA / ARV

• ARV (median comp): $158,989
• List price: $113,500
• Delta: -28.61%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
523 Union St	0.24mi	3/1.0 (-1)	1,543 (-8%)	2mo	$60,000	$39	68
610 N Union St	0.32mi	3/1.0 (-1)	1,563 (-6%)	6mo	$224,900	$144	62
532 Teman St Lot : 16	0.51mi	3/2.0 (-1)	1,725 (+3%)	6mo	$210,000	$122	59
532 Teman St	0.51mi	3/2.0 (-1)	1,725 (+3%)	6mo	$210,000	$122	59
410 W Crawford St	0.64mi	4/2.0	1,621 (-3%)	16mo	$112,500	$69	50
209 S East St	0.53mi	3/1.0 (-1)	1,693 (+2%)	23mo	$154,900	$91	46
501 S Franklin St	0.73mi	4/2.5	1,758 (+5%)	8mo	$226,500	$129	46
308 W Prospect	0.31mi	3/1.0 (-1)	1,500 (-10%)	22mo	$175,000	$117	44
112 S East St	0.44mi	4/1.0	1,830 (+10%)	23mo	$140,000	$77	42
317 W Saginaw	0.41mi	4/2.0	1,868 (+12%)	21mo	$91,000	$49	41
307 S East St	0.60mi	3/1.0 (-1)	1,572 (-6%)	18mo	$65,000	$41	41
113 N Bankson St	0.52mi	3/1.0 (-1)	1,776 (+6%)	23mo	$128,000	$72	38

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: 1.8%
• Equity multiple: 1.07×
• Total profit: $2,167
• Equity at exit: $16,923

10-year hold

• IRR: 11.4%
• Equity multiple: 1.89×
• Total profit: $28,236
• Equity at exit: $9,813

Cash invested: $31,780 (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 48880

• Home prices YoY: -28.5%
• Active inventory: 28
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,272 medium
• Mortgage (P&I): −$595
• Tax from tax record: −$39 /mo · $465/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $323

Break-even live

Break-even rent $862

Max offer price $113,500

Occupancy floor 70%

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: $28,375
• Closing costs: $3,405
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   days on market $113,500 Active 303 DOM
2. 2026-06-18
   days on market $113,500 Active 302 DOM
3. 2026-06-17
   days on market $113,500 Active 301 DOM
4. 2026-06-16
   days on market $113,500 Active 300 DOM
5. 2026-06-15
   days on market $113,500 Active 299 DOM
6. 2026-06-14
   days on market $113,500 Active 297 DOM
7. 2026-06-13
   days on market $113,500 Active 296 DOM
8. 2026-06-10
   days on market $113,500 Active 294 DOM
9. 2026-06-09
   days on market $113,500 Active 293 DOM
10. 2026-06-08
    days on market $113,500 Active 292 DOM
11. 2026-06-07
    days on market $113,500 Active 291 DOM
12. 2026-06-03
    days on market $113,500 Active 287 DOM
13. 2026-06-02
    days on market $113,500 Active 286 DOM
14. 2026-06-01
    days on market $113,500 Active 285 DOM
15. 2026-05-31
    days on market $113,500 Active 284 DOM
16. 2026-05-30
    days on market $113,500 Active 283 DOM
17. 2025-08-20
    listed $113,500 Active 742-char remark

    Show marketing remark (742 chars)

    Great Opportunity to own this single-family home built in 1960 featuring 3 bedrooms and 2 bathrooms. * * * SPECIAL NOTES: (1) This is a CASH ONLY transaction. (2) Seller to pay Taxes, HOA, and Municipal/Utility Liens. (3) Please read the Auction disclaimers carefully before placing a bid or submitting an offer. * * * Occupied Reserve Auction--The seller does not have access to the property. The property is occupied and the occupants are not to be disturbed or contacted under any circumstances. Interior inspections are not available and property is being sold as is. Please do not trespass. "As is" sale with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing.

18. 2025-08-20
    listed $113,500 Active 742-char remark

    Show marketing remark (742 chars)

    Great Opportunity to own this single-family home built in 1960 featuring 3 bedrooms and 2 bathrooms. * * * SPECIAL NOTES: (1) This is a CASH ONLY transaction. (2) Seller to pay Taxes, HOA, and Municipal/Utility Liens. (3) Please read the Auction disclaimers carefully before placing a bid or submitting an offer. * * * Occupied Reserve Auction--The seller does not have access to the property. The property is occupied and the occupants are not to be disturbed or contacted under any circumstances. Interior inspections are not available and property is being sold as is. Please do not trespass. "As is" sale with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing.

19. 2021-01-26
    soldstatus $87,500
20. 2021-01-26
    soldstatus $87,500
21. 2021-01-26
    soldstatus $87,500
22. 2020-06-15
    listed $94,000
23. 2020-06-15
    listed $94,000

ⓘ 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: $465 · $39/mo
• Projected year-2 tax: $1,107 · $92/mo
• Expected delta: +$641/yr (+$53/mo · 137.8%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 6 d/yr ≥98°F today · 12 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: $15,262
• − Mortgage interest: −$6,358
• − Property taxes: −$465
• − Insurance: −$568
• − Repairs & maintenance: −$1,221
• − Management: −$1,221
• − Depreciation: −$3,302
• Taxable income: $2,128
• Est. tax owed @ 24.0%: −$511
• After-tax cash flow: $3,371/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: St. Louis Public Schools
• NCES district ID: 2632880
• Math proficiency: 19% ▼ -4.00%
• Reading proficiency: 37% ▼ -7.00%
• Median HH income: $38,717
• Composite: 23.4/100
• National rank: #7899
• State rank: #397 of 540 in MI

Livability — St. Louis

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

Census & demographics

• Census place: St. Louis, MI
• Population (ZIP): 9,952

Population outlook (Gratiot County) Hauer SSP2

• Today (2025): 39,991 people
• By 2030: 38,944 · -2.6%
• By 2040: 36,694 · -8.2%
• By 2050: 34,314 · -14.2%
• By 2075: 27,693 · -30.8%
• By 2100: 20,809 · -48.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Black 19% Hispanic / Latino 9% Two or more races 7%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Common ancestry: Romanian 2% Slovak 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Gratiot

• 2024 margin: Solid R (+31.3) · D 33.7% · R 65.0% · Other 1.4%
• 2008→2024 swing: -35.7pp toward R · 2008: 4.4pp · 2024: -31.3pp
• All cycles: 2024: R+31.3 2020: R+28.3 2016: R+25.6 2012: R+3.9 2008: D+4.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -82.19%
• Current HPI: 206.4534
• 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

+20.7% since first listed

7 events — show timeline

• 2025-08-20 Listed $113,500 MiRealSource-MiMLS
• 2025-08-20 Listed $113,500 REALCOMP
• 2021-01-26 Sold (Public Records) $87,500 Public Records
• 2021-01-26 Sold (MLS) $87,500 REALCOMP
• 2021-01-26 Sold (MLS) $87,500 MiRealSource-MiMLS
• 2020-06-15 Listed $94,000 REALCOMP
• 2020-06-15 Listed $94,000 MiRealSource-MiMLS