622 Church St · Monroe, MI 48161

$149,900

4 bd · 2.0 ba · 1,526 sqft · SingleFamily public records · 22 Days on market

Built 1954 0.30 ac lot $98/sqft · 7% above area Est $140k · 7% over

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Why this score? — see what drove the C- 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 +24.4/30.0
• DSCR +7.9/10.0
• 1% rule +5.7/10.0
• ARV discount +4.3/15.0
• Livability +4.2/5.0
• 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

Welcome to 622 Church Street! This is a solid ranch duplex ready for a multi-family investor located in a VERY quiet and secluded pocket of Monroe. Property features solid masonry construction and hardwood floors in both units. Expansive backyard and undeveloped lot on one side of duplex adds privacy appeal for tenants. Units are matching 2 Bedroom/1 Bath layouts. Both units currently occupied and under lease with rents totaling $1700/month. All utilities have separate meters. Driveway on the side of the duplex provides private off street parking for tenants. You will not want to miss this one! BATVAI

Key facts

• Expansive backyard
• Hardwood floors
• 0.3 acre lot

Tags

• SOLID MASONRY CONSTRUCTION
• HARDWOOD FLOORS
• EXPANSIVE BACKYARD
• PRIVATE OFF STREET PARKING

Property features AI

Finance

• Other: Lot approximately 0.3 acre (dimensions 163 x 80)
• Financial info: Unit rents: $850 and $850
• HOA & community: Sidewalks (community feature)

Exterior

• Utilities: Public water; Public sewer
• Home design: One-story building; Multi-family residential income property; Brick construction
• Construction: Brick exterior
• Exterior features: Porch; Sidewalks

Interior

• Kitchen: Oven; Refrigerator; Range
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Natural gas; Separate meters for heating; No central cooling
• Interior features: Crawl space basement; Oven; Refrigerator; Range
• Laundry & utility: Washer

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $304 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 4.0% in Monroe — 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 83/100 on livability (#51 in MI, #1,034 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, crime D+, amenities D+.
• Monroe Public Schools (suburban): math 24% / reading 47% proficiency, ranked #278 of 540 in MI (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 144 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 264 units permitted in Monroe County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Monroe County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 25y 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 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $147,651 (1.5% below list)

Questions for the listing agent

1. Built in 1954 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is D 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?
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: 1.07% ✓
• Cap rate: 8.72%
• Cash-on-cash: 8.68%
• DSCR: 1.39
• GRM: 7.8

CMA / ARV

• ARV (median comp): $140,000
• List price: $149,900
• Delta: 7.07%
• Verdict: FAIR
• Comps: 19 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
312 Navarre St	0.33mi	4/2.0	1,456 (-5%)	4mo	$189,900	$130	74
405 E 5th St	0.36mi	3/1.5 (-1)	1,515 (-1%)	4mo	$125,000	$83	72
906 E 1st St	0.39mi	4/2.0	1,520 (-0%)	12mo	$59,900	$39	71
57 Navarre St	0.52mi	4/2.0	1,556 (+2%)	6mo	$124,900	$80	67
403 E 2nd St	0.48mi	5/2.0 (+1)	1,504 (-1%)	8mo	$200,000	$133	64
842 Franklin Blvd	0.46mi	3/2.0 (-1)	1,512 (-1%)	10mo	$60,000	$40	63
934 Cherry St	0.29mi	5/2.0 (+1)	1,700 (+11%)	6mo	$165,000	$97	57
606 E 3rd St	0.31mi	3/1.0 (-1)	1,410 (-8%)	10mo	$164,212	$116	56
814 E Front St	0.53mi	3/2.5 (-1)	1,483 (-3%)	12mo	$257,500	$174	54
422 E 1st St	0.49mi	4/2.0	1,728 (+13%)	2mo	$179,900	$104	53
515 E Elm St	0.73mi	3/1.5 (-1)	1,651 (+8%)	6mo	$132,000	$80	40
116 Maple Blvd	0.75mi	3/1.5 (-1)	1,300 (-15%)	1mo	$246,000	$189	32

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: -3.2%
• Equity multiple: 0.88×
• Total profit: $-4,977
• Equity at exit: $22,351

10-year hold

• IRR: 6.5%
• Equity multiple: 1.49×
• Total profit: $20,474
• Equity at exit: $12,961

Cash invested: $41,972 (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 48161

• Active inventory: 144
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,600 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$112 /mo · $1,341/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $304

Break-even live

Break-even rent $1,216

Max offer price $149,900

Occupancy floor 76%

Sensitivity live

Price	-10% $388	-5% $346	+0% $304	+5% $261	+10% $219
Rent	-10% $177	-5% $240	+0% $304	+5% $367	+10% $430
Rate	-1.0pp $379	-0.5pp $342	base $304	+0.5pp $265	+1.0pp $225

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
505 Harrison St Monroe, MI	3.0	2.0	1188	$1,600	$1.35	44d	1	0.76mi
75 Briarwood Trl Monroe, MI	3.0–4.0	2.0	1360	$1,609	$1.18	15d	1	1.27mi

Listing history 23 events

1. 2026-04-27
   listed $149,900 Active 608-char remark

   Show marketing remark (608 chars)

   Welcome to 622 Church Street! This is a solid ranch duplex ready for a multi-family investor located in a VERY quiet and secluded pocket of Monroe. Property features solid masonry construction and hardwood floors in both units. Expansive backyard and undeveloped lot on one side of duplex adds privacy appeal for tenants. Units are matching 2 Bedroom/1 Bath layouts. Both units currently occupied and under lease with rents totaling $1700/month. All utilities have separate meters. Driveway on the side of the duplex provides private off street parking for tenants. You will not want to miss this one! BATVAI

2. 2026-04-27
   listed $149,900 Active 608-char remark

   Show marketing remark (608 chars)

   Welcome to 622 Church Street! This is a solid ranch duplex ready for a multi-family investor located in a VERY quiet and secluded pocket of Monroe. Property features solid masonry construction and hardwood floors in both units. Expansive backyard and undeveloped lot on one side of duplex adds privacy appeal for tenants. Units are matching 2 Bedroom/1 Bath layouts. Both units currently occupied and under lease with rents totaling $1700/month. All utilities have separate meters. Driveway on the side of the duplex provides private off street parking for tenants. You will not want to miss this one! BATVAI

3. 2024-05-03
   soldstatus $588,000
4. 2021-11-04
   soldstatus $369,000
5. 2018-12-18
   soldstatus $65,000
6. 2018-12-13
   soldstatus $65,000

   Show marketing remark (211 chars)

   2 Unit ranch side by side. Updated hardwood floors. Shared Utility room with laundry and shed with a big back yard. 2 bedrooms / 1 bath in each unit. This is located on a dead end road next to a vacant city lot.

7. 2018-12-13
   soldstatus $65,000 Closed

   Show marketing remark (211 chars)

   2 Unit ranch side by side. Updated hardwood floors. Shared Utility room with laundry and shed with a big back yard. 2 bedrooms / 1 bath in each unit. This is located on a dead end road next to a vacant city lot.

8. 2018-12-05
   status Pending
9. 2018-08-03
   listed $74,900

   Show marketing remark (211 chars)

   2 Unit ranch side by side. Updated hardwood floors. Shared Utility room with laundry and shed with a big back yard. 2 bedrooms / 1 bath in each unit. This is located on a dead end road next to a vacant city lot.

10. 2018-08-03
    listed $74,900 Active

    Show marketing remark (211 chars)

    2 Unit ranch side by side. Updated hardwood floors. Shared Utility room with laundry and shed with a big back yard. 2 bedrooms / 1 bath in each unit. This is located on a dead end road next to a vacant city lot.

11. 2009-10-29
    soldstatus $24,200
12. 2009-10-09
    historical
13. 2009-04-03
    listed $59,900
14. 2008-03-29
    historical
15. 2007-09-24
    listed $99,900
16. 2004-11-01
    soldstatus $97,000
17. 2004-10-28
    soldstatus $97,000
18. 2004-10-01
    historical
19. 2004-09-13
    listed $109,900
20. 2001-07-01
    historical
21. 2001-07-01
    historical
22. 2001-02-01
    listed $84,900
23. 2001-02-01
    listed $84,900

ⓘ 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: $1,341 · $112/mo
• Projected year-2 tax: $1,825 · $152/mo
• Expected delta: +$484/yr (+$40/mo · 36.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,198
• − Mortgage interest: −$8,397
• − Property taxes: −$1,341
• − Insurance: −$750
• − Repairs & maintenance: −$1,536
• − Management: −$1,536
• − Depreciation: −$4,361
• Taxable income: $1,279
• Est. tax owed @ 24.0%: −$307
• After-tax cash flow: $3,336/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: Monroe Public Schools
• NCES district ID: 2624150
• Math proficiency: 24% ▲ 3.00%
• Reading proficiency: 47% ▲ 12.00%
• Median HH income: $46,437
• Composite: 30.33/100
• National rank: #6269
• State rank: #278 of 540 in MI

Livability — Monroe

• Score: 83/100
• State rank: #51
• US rank: #1034

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Monroe, MI
• County: Monroe County · 54,460 people
• City population: 54,460
• Metro: Monroe, MI
• Population (ZIP): 26,304
• Household income: $67,414
• Rent vs Own: 23.6% rent · 76.4% own
• Severe rent burden: 733.0

Population outlook (Monroe County) Hauer SSP2

• Today (2025): 144,439 people
• By 2030: 140,033 · -3.1%
• By 2040: 128,408 · -11.1%
• By 2050: 115,024 · -20.4%
• By 2075: 87,273 · -39.6%
• By 2100: 63,110 · -56.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 7% Black 5% Hispanic / Latino 5%
• Common ancestry: Lithuanian 10% Romanian 8% Italian 2%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1% Arabic 1%

Political lean MEDSL · Monroe

• 2024 margin: Strong R (+27.1) · D 35.7% · R 62.9% · Other 1.4%
• 2008→2024 swing: -31.5pp toward R · 2008: 4.3pp · 2024: -27.1pp
• All cycles: 2024: R+27.1 2020: R+22.6 2016: R+22.1 2012: D+1.0 2008: D+4.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -178.99%
• Current HPI: 126.2638
• Rent YoY: —
• Metro: Monroe, 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

+71.3% since first listed

27 events — show timeline

• 2026-06-12 Sold (MLS) $145,400 REALCOMP
• 2026-06-12 Sold (MLS) $145,400 MiRealSource-MiMLS
• 2026-05-19 Pending — REALCOMP
• 2026-05-19 Pending — MiRealSource-MiMLS
• 2026-04-27 Listed $149,900 REALCOMP
• 2026-04-27 Listed $149,900 MiRealSource-MiMLS
• 2024-05-03 Sold (Public Records) $588,000 Public Records
• 2021-11-04 Sold (Public Records) $369,000 Public Records
• 2018-12-18 Sold (Public Records) $65,000 Public Records
• 2018-12-13 Sold (MLS) $65,000 MiRealSource-MiMLS
• 2018-12-13 Sold (MLS) $65,000 REALCOMP
• 2018-12-05 Pending — MiRealSource-MiMLS
• 2018-08-03 Listed $74,900 MiRealSource-MiMLS
• 2018-08-03 Listed $74,900 REALCOMP
• 2009-10-29 Sold (MLS) $24,200 MiRealSource-MiMLS
• 2009-10-09 Listing Removed — MiRealSource-MiMLS
• 2009-04-03 Listed $59,900 MiRealSource-MiMLS
• 2008-03-29 Listing Removed — MiRealSource-MiMLS
• 2007-09-24 Listed $99,900 MiRealSource-MiMLS
• 2004-11-01 Sold (Public Records) $97,000 Public Records
• 2004-10-28 Sold (MLS) $97,000 MiRealSource-MiMLS
• 2004-10-01 Listing Removed — MiRealSource-MiMLS
• 2004-09-13 Listed $109,900 MiRealSource-MiMLS
• 2001-07-01 Listing Removed — MiRealSource-MiMLS
• 2001-07-01 Listing Removed — MiRealSource-MiMLS
• 2001-02-01 Listed $84,900 MiRealSource-MiMLS
• 2001-02-01 Listed $84,900 MiRealSource-MiMLS

Property tax history

+3.4%/yr

Latest (2025): $1,341 · -40.6% YoY. Source: county tax records.