306 W Madison St · DeWitt, MI 48820

$250,000

4 bd · 1.5 ba · 1,480 sqft · SingleFamily public records · 4 Days on market

Built 1940 8,712 sqft lot Est $249k · at est.

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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).

• Cash flow +13.5/30.0
• ARV discount +7.3/15.0
• Schools +5.0/10.0
• DSCR +4.1/10.0
• Livability +3.9/5.0
• 1% rule +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Adorable and move in ready 4 bedroom, 1.5 bath home in the heart of DeWitt, Michigan. As you enter, you will feel the unique charm of this home. There are 2 bedrooms, a full bath and large eat in kitchen on the main floor. The kitchen and bath have been updated. Upstairs are 2 large bedrooms with plenty of storage. The unfinished basement has a large rec room, utility area with unconventional half bath and laundry room with sink. There are radon and B Dry systems already in place. Outside you can enjoy summer nights and BBQ's in your fenced backyard. There's an oversized two car detached garage with a large lean-to and loft. This home is within walking distance to downtown, shopping, and restaurants! Welcome to Panther Country!

Key facts

• 8,712 sq ft lot
• 2 garage spots
• Built 1940

Property features AI

Finance

• Other: Directions: use GPS
• HOA & community: No association

Exterior

• Parking: Detached oversized garage; Driveway
• Utilities: Public sewer; Sewer connected; Natural gas connected; Electricity connected
• Home design: One and one half levels; Updated/remodeled condition; Built in 1940; City street frontage; Shingle roof
• Construction: Vinyl siding; Block foundation
• Exterior features: Rain gutters; Back yard and front yard landscaping; Rectangular lot; See remarks regarding lot; Front porch; Glass-enclosed porch; Rear porch; Back yard fencing; Storage structure on property

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Laminate counters
• Bedrooms: 4 bedrooms total (including primary bedroom)
• Flooring: Carpet; Hardwood; Laminate
• Bathrooms: 1 full bathroom (updated); 1 half bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Built-in features; Ceiling fans; Entrance foyer; Laminate counters
• Laundry & utility: Washer; Dryer; Laundry in basement and inside with sink; Laundry chute

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $8 ($91/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $216k (13.8% below list).
• Recommended offer: $216k (13.8% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 2.9% in DeWitt — 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 78/100 on livability (#99 in MI, #2,361 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety D-.
• Dewitt Public Schools (suburban): math 51% / reading 60% proficiency, ranked #53 of 540 in MI (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 12% free/reduced lunch — higher-income household profile.
• Market conditions: 103 active listings in the ZIP; high-income renter base; 154 units permitted in Clinton 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 $8k of value loss. Plan a longer hold.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 4y 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 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $215,544 (13.8% below list)

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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?
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: 0.86% ✗
• Cap rate: 6.33%
• Cash-on-cash: 0.13%
• DSCR: 1.01
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $248,640
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
306 W Madison St	0.00mi	4/1.5	1,344 (-9%)	0mo	$265,000	$197	85
303 W Washington St	0.19mi	3/2.0 (-1)	1,404 (-5%)	4mo	$215,000	$153	73
415 W Washington St	0.21mi	4/2.0	1,352 (-9%)	8mo	$227,000	$168	68
611 Dartmouth Dr	0.23mi	3/3.0 (-1)	1,378 (-7%)	0mo	$345,000	$250	66
211 E Main St	0.27mi	3/1.0 (-1)	1,376 (-7%)	14mo	$221,000	$161	57
114 N Market St	0.30mi	3/2.0 (-1)	1,407 (-5%)	24mo	$235,000	$167	51
603 Cherry St	0.46mi	4/2.0	1,696 (+15%)	2mo	$235,000	$139	51
416 Riverview Dr	0.69mi	3/1.5 (-1)	1,363 (-8%)	6mo	$287,000	$211	45
11722 Norris Rd	0.54mi	3/1.0 (-1)	1,274 (-14%)	6mo	$265,750	$209	39

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: -16.1%
• Equity multiple: 0.43×
• Total profit: $-40,013
• Equity at exit: $37,276

10-year hold

• IRR: -7.7%
• Equity multiple: 0.51×
• Total profit: $-34,167
• Equity at exit: $21,615

Cash invested: $70,000 (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 48820

• Active inventory: 103
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,155 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$280 /mo · $3,360/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$453
• Net cashflow: $8

Break-even live

Break-even rent $2,146

Max offer price $250,000

Occupancy floor 95%

Sensitivity live

Price	-10% $149	-5% $78	+0% $8	+5% $-63	+10% $-134
Rent	-10% $-163	-5% $-78	+0% $8	+5% $93	+10% $178
Rate	-1.0pp $134	-0.5pp $71	base $8	+0.5pp $-57	+1.0pp $-123

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-05-23
   status Pending 737-char remark

   Show marketing remark (737 chars)

   Adorable and move in ready 4 bedroom, 1.5 bath home in the heart of DeWitt, Michigan. As you enter, you will feel the unique charm of this home. There are 2 bedrooms, a full bath and large eat in kitchen on the main floor. The kitchen and bath have been updated. Upstairs are 2 large bedrooms with plenty of storage. The unfinished basement has a large rec room, utility area with unconventional half bath and laundry room with sink. There are radon and B Dry systems already in place. Outside you can enjoy summer nights and BBQ's in your fenced backyard. There's an oversized two car detached garage with a large lean-to and loft. This home is within walking distance to downtown, shopping, and restaurants! Welcome to Panther Country!

2. 2026-05-22
   status Pending
3. 2026-05-18
   listed $250,000 Active 737-char remark

   Show marketing remark (737 chars)

   Adorable and move in ready 4 bedroom, 1.5 bath home in the heart of DeWitt, Michigan. As you enter, you will feel the unique charm of this home. There are 2 bedrooms, a full bath and large eat in kitchen on the main floor. The kitchen and bath have been updated. Upstairs are 2 large bedrooms with plenty of storage. The unfinished basement has a large rec room, utility area with unconventional half bath and laundry room with sink. There are radon and B Dry systems already in place. Outside you can enjoy summer nights and BBQ's in your fenced backyard. There's an oversized two car detached garage with a large lean-to and loft. This home is within walking distance to downtown, shopping, and restaurants! Welcome to Panther Country!

4. 2026-05-18
   listed $250,000 Active

   Show marketing remark (737 chars)

   Adorable and move in ready 4 bedroom, 1.5 bath home in the heart of DeWitt, Michigan. As you enter, you will feel the unique charm of this home. There are 2 bedrooms, a full bath and large eat in kitchen on the main floor. The kitchen and bath have been updated. Upstairs are 2 large bedrooms with plenty of storage. The unfinished basement has a large rec room, utility area with unconventional half bath and laundry room with sink. There are radon and B Dry systems already in place. Outside you can enjoy summer nights and BBQ's in your fenced backyard. There's an oversized two car detached garage with a large lean-to and loft. This home is within walking distance to downtown, shopping, and restaurants! Welcome to Panther Country!

5. 2026-05-13
   historical $250,000
6. 2024-01-23
   status Pending 504-char remark

   Show marketing remark (504 chars)

   Cute 4 bedroom home in heart of downtown Dewitt. Freshly painted, newer carpet, fenced yard. 2 car garage plus potting shed, plus additional lawn equipment garage. Large kitchen with 3/4 wood floor. Taxes currently are non-homestead. Seller is a licensed realtor in the state of Michigan. 1/2 bath in basement is not conventional. New furnace in October 2022. Basement water proofing system full perimeter. 2nd closet in primary bedroom could easily be added to the bathroom to create a larger bathroom.

7. 2024-01-23
   soldstatus $224,900

   Show marketing remark (504 chars)

   Cute 4 bedroom home in heart of downtown Dewitt. Freshly painted, newer carpet, fenced yard. 2 car garage plus potting shed, plus additional lawn equipment garage. Large kitchen with 3/4 wood floor. Taxes currently are non-homestead. Seller is a licensed realtor in the state of Michigan. 1/2 bath in basement is not conventional. New furnace in October 2022. Basement water proofing system full perimeter. 2nd closet in primary bedroom could easily be added to the bathroom to create a larger bathroom.

8. 2024-01-19
   soldstatus $224,900 Closed 504-char remark

   Show marketing remark (504 chars)

   Cute 4 bedroom home in heart of downtown Dewitt. Freshly painted, newer carpet, fenced yard. 2 car garage plus potting shed, plus additional lawn equipment garage. Large kitchen with 3/4 wood floor. Taxes currently are non-homestead. Seller is a licensed realtor in the state of Michigan. 1/2 bath in basement is not conventional. New furnace in October 2022. Basement water proofing system full perimeter. 2nd closet in primary bedroom could easily be added to the bathroom to create a larger bathroom.

9. 2024-01-19
   soldstatus $224,900

   Show marketing remark (504 chars)

   Cute 4 bedroom home in heart of downtown Dewitt. Freshly painted, newer carpet, fenced yard. 2 car garage plus potting shed, plus additional lawn equipment garage. Large kitchen with 3/4 wood floor. Taxes currently are non-homestead. Seller is a licensed realtor in the state of Michigan. 1/2 bath in basement is not conventional. New furnace in October 2022. Basement water proofing system full perimeter. 2nd closet in primary bedroom could easily be added to the bathroom to create a larger bathroom.

10. 2023-10-06
    listed $224,900 Active 504-char remark

    Show marketing remark (504 chars)

    Cute 4 bedroom home in heart of downtown Dewitt. Freshly painted, newer carpet, fenced yard. 2 car garage plus potting shed, plus additional lawn equipment garage. Large kitchen with 3/4 wood floor. Taxes currently are non-homestead. Seller is a licensed realtor in the state of Michigan. 1/2 bath in basement is not conventional. New furnace in October 2022. Basement water proofing system full perimeter. 2nd closet in primary bedroom could easily be added to the bathroom to create a larger bathroom.

11. 2023-10-06
    listed $224,900

    Show marketing remark (504 chars)

    Cute 4 bedroom home in heart of downtown Dewitt. Freshly painted, newer carpet, fenced yard. 2 car garage plus potting shed, plus additional lawn equipment garage. Large kitchen with 3/4 wood floor. Taxes currently are non-homestead. Seller is a licensed realtor in the state of Michigan. 1/2 bath in basement is not conventional. New furnace in October 2022. Basement water proofing system full perimeter. 2nd closet in primary bedroom could easily be added to the bathroom to create a larger bathroom.

12. 2023-08-09
    historical
13. 2023-06-29
    historical
14. 2023-06-09
    listed $224,900 Active
15. 2023-06-09
    listed $224,900
16. 2022-10-03
    historical
17. 2022-10-03
    historical
18. 2022-08-29
    price $224,500
19. 2022-08-15
    listed $228,000 Active
20. 2022-08-15
    listed $224,500

ⓘ 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: $3,360 · $280/mo
• Projected year-2 tax: $3,605 · $300/mo
• Expected delta: +$245/yr (+$20/mo · 7.3%)

ⓘ 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 3/10 Moderate 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,865
• − Mortgage interest: −$14,004
• − Property taxes: −$3,360
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,069
• − Management: −$2,069
• − Depreciation: −$7,273
• Taxable loss: −$4,160
• Est. tax savings @ 24.0%: +$998
• After-tax cash flow: $1,090/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: Dewitt Public Schools
• NCES district ID: 2611550
• Math proficiency: 51% ▼ -5.00%
• Reading proficiency: 60% ▼ -9.00%
• Median HH income: $80,391
• Composite: 50.22/100
• National rank: #1895
• State rank: #53 of 540 in MI

Livability — DeWitt

• Score: 78/100
• State rank: #99
• US rank: #2361

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: DeWitt, MI
• County: Clinton County · 18,357 people
• City population: 18,357
• Metro: Lansing-East Lansing, MI
• Population (ZIP): 18,357
• Household income: $112,526
• Rent vs Own: 14.5% rent · 85.5% own
• Severe rent burden: 183.0

Population outlook (Clinton County) Hauer SSP2

• Today (2025): 81,490 people
• By 2030: 82,558 · +1.3%
• By 2040: 82,325 · +1.0%
• By 2050: 79,133 · -2.9%
• By 2075: 65,737 · -19.3%
• By 2100: 51,314 · -37.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 5% Black 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 3%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Clinton

• 2024 margin: Lean R (+8.6) · D 44.9% · R 53.5% · Other 1.5%
• 2008→2024 swing: -9.3pp toward R · 2008: 0.7pp · 2024: -8.6pp
• All cycles: 2024: R+8.6 2020: R+6.5 2016: R+12.7 2012: R+6.2 2008: D+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -167.50%
• Current HPI: 231.0122
• Rent YoY: —
• Metro: Lansing-East Lansing, 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

+9.6% since first listed

20 events — show timeline

• 2026-05-23 Pending — REALCOMP
• 2026-05-22 Pending — Greater Lansing AoR
• 2026-05-18 Listed $250,000 REALCOMP
• 2026-05-18 Listed $250,000 Greater Lansing AoR
• 2026-05-13 Coming Soon $250,000 Greater Lansing AoR
• 2024-01-23 Pending — Greater Lansing AoR
• 2024-01-23 Sold (Public Records) $224,900 Public Records
• 2024-01-19 Sold (MLS) $224,900 REALCOMP
• 2024-01-19 Sold (MLS) $224,900 Greater Lansing AoR
• 2023-10-06 Listed $224,900 REALCOMP
• 2023-10-06 Listed $224,900 Greater Lansing AoR
• 2023-08-09 Listing Removed — Greater Lansing AoR
• 2023-06-29 Listing Removed — REALCOMP
• 2023-06-09 Listed $224,900 REALCOMP
• 2023-06-09 Listed $224,900 Greater Lansing AoR
• 2022-10-03 Listing Removed — REALCOMP
• 2022-10-03 Listing Removed — Greater Lansing AoR
• 2022-08-29 Price Changed $224,500 Greater Lansing AoR
• 2022-08-15 Listed $224,500 REALCOMP
• 2022-08-15 Listed $228,000 Greater Lansing AoR

Property tax history

+0.3%/yr

Latest (2025): $3,360 · +16.1% YoY. Source: county tax records.