3137 Dean Rd

Bedford, MI 48144

$279,000C-

3 bd · 2.0 ba · 1,764 sqft · Built 1959 · SingleFamily · Active · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,553/mo
• Mortgage (P&I): −$1,463
• Tax + insurance: −$189
• HOA: −$0
• Vac / Maint / Mgmt: −$536
• Net cashflow: $365/mo
• Annual: $4,378/yr
• Cap rate: 7.86%
• Cash-on-cash: 5.60%
• DSCR: 1.25
• 1% rule: 0.92%
• Cash to close: $78,120

Investor read

• This is a 3-bed/2.0-bath single-family listed at $279k.
• At list price, monthly cash flow is $365 ($4k/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 $255k (8.5% below list).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $255k (8.5% below list) — sets the bar for 1% rule.
• 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.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Bedford Public Schools (suburban): math 33% / reading 53% proficiency, ranked #150 of 540 in MI (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 29 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).
• Monroe County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 14y 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 $155k; list at $279k implies a 80% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.