729 Obrien St · Monroe, MI 48161

$129,900

2 bd · 2.0 ba · 1,141 sqft · SingleFamily public records · 65 Days on market

Built 1863 5,227 sqft lot $114/sqft · 22% below area Est $169k · 23% under

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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 +18.3/30.0
• ARV discount +15.0/15.0
• DSCR +5.7/10.0
• Livability +4.2/5.0
• 1% rule +3.9/10.0
• 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 Obrien Street in Monroe, Michigan. This property offers practical improvements and everyday convenience, including rear parking for added accessibility and ease of use. Recent exterior work includes a replaced front roof and an updated back landing, adding to the home’s functionality. Inside, the heater was replaced in 2025, and the dryer was replaced in 2023. With key improvements already completed, this home presents a solid opportunity for a buyer seeking comfortable living with useful updates already in place.

Key facts

• 5,227 sq ft lot
• Built 1863
• Listed 65 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $119 ($1k/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 $115k (11.2% below list).
• Recommended offer: $115k (11.2% below list) — sets the bar for 1% rule.
• Cap rate 7.4% 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: 152 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 64% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $898 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 65 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 21 sale attempts since 26y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $32k; list at $130k implies a 306% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1863 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $115,343 (11.2% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1863 — 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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.89% ✗
• Cap rate: 7.39%
• Cash-on-cash: 3.91%
• DSCR: 1.17
• GRM: 9.4

CMA / ARV

• ARV (median comp): $168,526
• List price: $129,900
• Delta: -22.92%
• 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
725 W 6th St	0.28mi	3/2.0 (+1)	1,144 (+0%)	2mo	$130,000	$114	79
606 W 4th St	0.15mi	3/1.0 (+1)	1,144 (+0%)	6mo	$167,000	$146	79
508 W Third St	0.16mi	3/1.5 (+1)	1,190 (+4%)	6mo	$95,000	$80	73
711 W 5th St	0.22mi	3/1.0 (+1)	1,200 (+5%)	4mo	$117,000	$98	69
409 Adams St	0.25mi	3/1.0 (+1)	1,200 (+5%)	4mo	$172,500	$144	68
812 Bacon St	0.47mi	3/2.0 (+1)	1,216 (+7%)	1mo	$95,000	$78	61
727 W 4th St	0.14mi	3/1.0 (+1)	1,269 (+11%)	6mo	$135,000	$106	61
1703 S Custer Rd	0.70mi	3/1.5 (+1)	1,147 (+0%)	2mo	$178,000	$155	57
121 N Roessler St	0.30mi	3/1.0 (+1)	1,242 (+9%)	8mo	$172,900	$139	56
150 Godfroy Ave	0.44mi	3/2.0 (+1)	1,000 (-12%)	8mo	$175,000	$175	47
530 Toledo Ave	0.41mi	3/1.0 (+1)	1,288 (+13%)	7mo	$210,000	$163	44
423 W 7th St	0.40mi	3/1.0 (+1)	1,312 (+15%)	7mo	$90,000	$69	42

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: -10.2%
• Equity multiple: 0.63×
• Total profit: $-13,549
• Equity at exit: $19,369

10-year hold

• IRR: -0.9%
• Equity multiple: 0.94×
• Total profit: $-2,271
• Equity at exit: $11,231

Cash invested: $36,372 (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: 152
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,153 high
• Mortgage (P&I): −$681
• Tax from tax record: −$57 /mo · $688/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $119

Break-even live

Break-even rent $1,003

Max offer price $129,900

Occupancy floor 85%

Sensitivity live

Price	-10% $192	-5% $155	+0% $119	+5% $82	+10% $45
Rent	-10% $27	-5% $73	+0% $119	+5% $164	+10% $210
Rate	-1.0pp $184	-0.5pp $152	base $119	+0.5pp $85	+1.0pp $51

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
411 W 3rd St Unit 2 Monroe, MI	1.0	1.0	700	$700	$1.00	45d	1	0.25mi
505 Harrison St Monroe, MI	3.0	2.0	1188	$1,600	$1.35	45d	1	0.47mi
733 Smith St Monroe, MI	3.0	1.5	1000	$1,500	$1.50	45d	1	0.53mi
739 Washington St Monroe, MI	2.0	2.0	853	$995	$1.17	45d	1	0.81mi
1450 S Monroe St Monroe, MI	1.0–2.0	1.0–2.0	851	$1,350	$1.59	24d	1	0.83mi
620 John Anderson Ct Unit 628-28 Monroe, MI	2.0	1.5	800	$1,095	$1.37	45d	1	0.87mi
620 John Anderson Ct Monroe, MI	1.0–2.0	1.0–1.5	787	$1,295	$1.64	45d	7	0.87mi
620 John Anderson Ct Monroe, MI	1.0–2.0	1.0–1.5	787	$995	$1.26	0d	10	0.87mi
1985 S Custer Rd Apt 3 Monroe, MI	2.0	1.0	1000	$1,200	$1.20	45d	1	1.02mi
765 N Macomb St Monroe, MI	2.0	1.0	1050	$1,150	$1.10	45d	1	1.09mi
767 N Macomb St Monroe, MI	2.0	1.0	1050	$1,150	$1.10	45d	1	1.09mi
1250 Strandwyck Dr Monroe, MI	3.0	2.0	1256	$1,274	$1.01	15d	1	1.16mi
927 N Macomb St Monroe, MI	1.0	1.0	900	$1,195	$1.33	19d	1	1.17mi
1250 Josephine Ct Monroe, MI	1.0–2.0	1.0	792	$975	$1.23	5d	2	1.44mi

Listing history 50 events

1. 2026-06-21
   days on market $129,900 Active 65 DOM
2. 2026-06-19
   days on market $129,900 Active 63 DOM
3. 2026-06-18
   days on market $129,900 Active 62 DOM
4. 2026-06-17
   days on market $129,900 Active 61 DOM
5. 2026-06-16
   days on market $129,900 Active 60 DOM
6. 2026-06-15
   days on market $129,900 Active 59 DOM
7. 2026-06-14
   days on market $129,900 Active 57 DOM
8. 2026-06-12
   days on market $129,900 Active 56 DOM
9. 2026-06-09
   days on market $129,900 Active 53 DOM
10. 2026-06-08
    days on market $129,900 Active 52 DOM
11. 2026-06-07
    days on market $129,900 Active 51 DOM
12. 2026-06-05
    days on market $129,900 Active 48 DOM
13. 2026-06-02
    days on market $129,900 Active 46 DOM
14. 2026-06-01
    days on market $129,900 Active 45 DOM
15. 2026-05-31
    days on market $129,900 Active 44 DOM
16. 2026-05-30
    days on market $129,900 Active 43 DOM
17. 2026-05-16
    price $129,900 536-char remark

    Show marketing remark (536 chars)

    Welcome to Obrien Street in Monroe, Michigan. This property offers practical improvements and everyday convenience, including rear parking for added accessibility and ease of use. Recent exterior work includes a replaced front roof and an updated back landing, adding to the home’s functionality. Inside, the heater was replaced in 2025, and the dryer was replaced in 2023. With key improvements already completed, this home presents a solid opportunity for a buyer seeking comfortable living with useful updates already in place.

18. 2026-05-15
    price $129,900 530-char remark

    Show marketing remark (530 chars)

    Welcome to Obrien Street in Monroe, Michigan. This property offers practical improvements and everyday convenience, including rear parking for added accessibility and ease of use. Recent exterior work includes a replaced front roof and an updated back landing, adding to the home's functionality. Inside, the heater was replaced in 2025, and the dryer was replaced in 2023. With key improvements already completed, this home presents a solid opportunity for a buyer seeking comfortable living with useful updates already in place.

19. 2026-04-17
    listed $139,900 Active 536-char remark

    Show marketing remark (530 chars)

    Welcome to Obrien Street in Monroe, Michigan. This property offers practical improvements and everyday convenience, including rear parking for added accessibility and ease of use. Recent exterior work includes a replaced front roof and an updated back landing, adding to the home's functionality. Inside, the heater was replaced in 2025, and the dryer was replaced in 2023. With key improvements already completed, this home presents a solid opportunity for a buyer seeking comfortable living with useful updates already in place.

20. 2026-04-17
    listed $139,900 Active 530-char remark

    Show marketing remark (530 chars)

    Welcome to Obrien Street in Monroe, Michigan. This property offers practical improvements and everyday convenience, including rear parking for added accessibility and ease of use. Recent exterior work includes a replaced front roof and an updated back landing, adding to the home's functionality. Inside, the heater was replaced in 2025, and the dryer was replaced in 2023. With key improvements already completed, this home presents a solid opportunity for a buyer seeking comfortable living with useful updates already in place.

21. 2026-04-10
    historical $139,900 536-char remark

    Show marketing remark (536 chars)

    Welcome to Obrien Street in Monroe, Michigan. This property offers practical improvements and everyday convenience, including rear parking for added accessibility and ease of use. Recent exterior work includes a replaced front roof and an updated back landing, adding to the home’s functionality. Inside, the heater was replaced in 2025, and the dryer was replaced in 2023. With key improvements already completed, this home presents a solid opportunity for a buyer seeking comfortable living with useful updates already in place.

22. 2018-08-03
    historical
23. 2018-08-03
    historical
24. 2014-02-09
    historical
25. 2014-02-09
    historical
26. 2013-11-25
    historical
27. 2013-11-25
    historical
28. 2013-08-30
    listed $59,900
29. 2013-08-30
    listed $59,900
30. 2013-08-30
    listed $59,900
31. 2013-08-30
    listed $59,900
32. 2012-01-13
    historical
33. 2011-12-07
    historical
34. 2011-12-07
    historical
35. 2011-10-17
    listed $825
36. 2011-08-10
    listed $69,900
37. 2011-08-10
    listed $69,900
38. 2010-07-30
    historical
39. 2010-06-14
    listed $74,900
40. 2010-06-14
    listed $74,900
41. 2010-05-27
    listed $74,900
42. 2009-07-25
    historical
43. 2009-07-25
    historical
44. 2009-05-13
    historical
45. 2009-01-13
    listed $89,990
46. 2009-01-13
    listed $89,990
47. 2009-01-13
    listed $89,990
48. 2007-11-02
    historical
49. 2007-11-01
    soldstatus $32,000
50. 2007-11-01
    soldstatus $32,000

ⓘ 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: $688 · $57/mo
• Projected year-2 tax: $1,344 · $112/mo
• Expected delta: +$656/yr (+$55/mo · 95.3%)

ⓘ 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 ≥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: $13,841
• − Mortgage interest: −$7,276
• − Property taxes: −$688
• − Insurance: −$650
• − Repairs & maintenance: −$1,107
• − Management: −$1,107
• − Depreciation: −$3,779
• Taxable loss: −$767
• Est. tax savings @ 24.0%: +$184
• After-tax cash flow: $1,606/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

+62.6% since first listed

48 events — show timeline

• 2026-05-16 Price Changed $129,900 MiRealSource-MiMLS
• 2026-05-15 Price Changed $129,900 REALCOMP
• 2026-04-17 Listed $139,900 MiRealSource-MiMLS
• 2026-04-17 Listed $139,900 REALCOMP
• 2026-04-10 Coming Soon $139,900 MiRealSource-MiMLS
• 2018-08-03 Listing Removed — MiRealSource-MiMLS
• 2018-08-03 Listing Removed — REALCOMP
• 2014-02-09 Listing Removed — MiRealSource-MiMLS
• 2014-02-09 Listing Removed — REALCOMP
• 2013-11-25 Listing Removed — REALCOMP
• 2013-11-25 Listing Removed — MiRealSource-MiMLS
• 2013-08-30 Listed $59,900 REALCOMP
• 2013-08-30 Listed $59,900 MiRealSource-MiMLS
• 2013-08-30 Listed $59,900 MiRealSource-MiMLS
• 2013-08-30 Listed $59,900 REALCOMP
• 2012-01-13 Listing Removed — MiRealSource-MiMLS
• 2011-12-07 Listing Removed — MiRealSource-MiMLS
• 2011-12-07 Listing Removed — REALCOMP
• 2011-10-17 Listed $825 MiRealSource-MiMLS
• 2011-08-10 Listed $69,900 MiRealSource-MiMLS
• 2011-08-10 Listed $69,900 REALCOMP
• 2010-07-30 Listing Removed — REALCOMP
• 2010-06-14 Listed $74,900 MiRealSource-MiMLS
• 2010-06-14 Listed $74,900 REALCOMP
• 2010-05-27 Listed $74,900 REALCOMP
• 2009-07-25 Listing Removed — REALCOMP
• 2009-07-25 Listing Removed — MiRealSource-MiMLS
• 2009-05-13 Listing Removed — REALCOMP
• 2009-01-13 Listed $89,990 REALCOMP
• 2009-01-13 Listed $89,990 REALCOMP
• 2009-01-13 Listed $89,990 MiRealSource-MiMLS
• 2007-11-02 Listing Removed — MiRealSource-MiMLS
• 2007-11-01 Sold (MLS) $32,000 REALCOMP
• 2007-11-01 Sold (MLS) $32,000 MiRealSource-MiMLS
• 2007-09-10 Listing Removed — MiRealSource-MiMLS
• 2007-09-10 Listing Removed — REALCOMP
• 2007-09-10 Listed $39,900 REALCOMP
• 2007-09-10 Listed $39,900 MiRealSource-MiMLS
• 2007-06-07 Listing Removed — REALCOMP
• 2007-06-06 Listed $39,900 MiRealSource-MiMLS
• 2007-06-06 Listed $39,900 REALCOMP
• 2007-02-27 Listed $59,900 REALCOMP
• 2002-04-25 Sold (Public Records) $54,000 Public Records
• 2002-04-25 Sold (Public Records) $76,000 Public Records
• 2000-03-02 Sold (Public Records) $76,000 Public Records
• 2000-02-25 Sold (MLS) $76,000 MiRealSource-MiMLS
• 2000-02-24 Listing Removed — MiRealSource-MiMLS
• 2000-01-18 Listed $79,900 MiRealSource-MiMLS

Property tax history

-2.8%/yr

Latest (2025): $688 · -46.9% YoY. Source: county tax records.