934 Lighthouse Dr · Marysville, MI 48040

$205,000

2 bd · 1.5 ba · 1,063 sqft · Condo · 13 Days on market

Built 2004 $200/mo HOA · 9% of rent

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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 +17.2/30.0
• ARV discount +7.5/15.0
• 1% rule +5.4/10.0
• DSCR +5.3/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This sought-after 2 bedroom, 2 bathroom condominium in Marysville offers the perfect blend of comfort, convenience, and low maintenance living. Featuring a spacious and functional layout, First floor Laundry, this home is ideal for those looking to simplify without sacrificing style or space. The affordable $200 per month HOA fee covers outdoor lawn care, exterior maintenance, and snow removal, allowing you to enjoy a truly carefree lifestyle year-round. Residents appreciate the quiet community atmosphere and the ease of owning a well-maintained property. Outdoor enthusiasts will love the easy access to the nearby bike trail, perfect for walking, biking, and enjoying the outdoors. Whether you are downsizing, purchasing your first home, or seeking a convenient lifestyle, this condominium is a fantastic opportunity in a desirable Marysville location.

Key facts

• Snow removal
• Exterior maintenance
• First floor laundry

Tags

• FIRST FLOOR LAUNDRY
• OUTDOOR LAWN CARE
• EXTERIOR MAINTENANCE
• SNOW REMOVAL
• EASY ACCESS TO BIKE TRAIL

Property features AI

Finance

• Other: No pool
• HOA & community: Homeowners association with a $200 monthly fee; HOA covers structure maintenance and snow removal

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Residential condominium; One-story
• Construction: Brick and vinyl siding; Built with a foundation and unfinished basement
• Exterior features: Deck; Porch; Located on a cul-de-sac; Paved road access

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Gas water heater; Disposal; Unfinished basement with concrete floor and sump pump; 4 total rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $205k.

Deal economics

• At list price, monthly cash flow is $145 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $205k).
• Cap rate 7.1% vs local median 4.8% in Marysville — 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 (#114 in MI, #2,700 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities C-, employment D+, health & safety D.
• Marysville Public Schools (suburban): math 42% / reading 53% proficiency, ranked #115 of 540 in MI (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 84 active listings in the ZIP; 232 units permitted in St. Clair County in 2024 (0 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 $6k of value loss. Plan a longer hold.
• St. Clair County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 22y 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 $124k; list at $205k implies a 65% gain — meaningful room to come down on a strong offer.

Recommended offer $205,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-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?
5. 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?
6. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.04% ✓
• Cap rate: 7.14%
• Cash-on-cash: 3.03%
• DSCR: 1.13
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -11.5%
• Equity multiple: 0.58×
• Total profit: $-23,884
• Equity at exit: $30,566

10-year hold

• IRR: -2.2%
• Equity multiple: 0.85×
• Total profit: $-8,493
• Equity at exit: $17,725

Cash invested: $57,400 (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 48040

• Home prices YoY: -34.4%
• Active inventory: 84
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,123 medium
• Mortgage (P&I): −$1,075
• Tax from tax record: −$172 /mo · $2,063/yr
• Insurance: −$85
• HOA: −$200
• Vacancy / Maint / Mgmt: −$446
• Net cashflow: $145

Break-even live

Break-even rent $1,940

Max offer price $205,000

Occupancy floor 88%

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $200 · $2,400/yr
• Likely covers: landscapingsnow removalexterior maint.
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-06-17
   status $205,000 Pending 13 DOM
2. 2026-06-16
   days on market $205,000 Active 13 DOM
3. 2026-06-15
   days on market $205,000 Active 12 DOM
4. 2026-06-13
   days on market $205,000 Active 10 DOM
5. 2026-06-09
   days on market $205,000 Active 6 DOM
6. 2026-06-08
   days on market $205,000 Active 5 DOM
7. 2026-06-07
   days on market $205,000 Active 4 DOM
8. 2026-06-04
   remarks 699-char remark
9. 2026-06-04
   listed $205,000 Active 1 DOM

ⓘ 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: $2,063 · $172/mo
• Projected year-2 tax: $2,610 · $217/mo
• Expected delta: +$547/yr (+$46/mo · 26.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $25,478
• − Mortgage interest: −$11,483
• − Property taxes: −$2,063
• − Insurance: −$1,025
• − Repairs & maintenance: −$2,038
• − Management: −$2,038
• − HOA: −$2,400
• − Depreciation: −$5,964
• Taxable loss: −$1,533
• Est. tax savings @ 24.0%: +$368
• After-tax cash flow: $2,107/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: Marysville Public Schools
• NCES district ID: 2623040
• Math proficiency: 42% ▼ -14.00%
• Reading proficiency: 53% ▼ -12.00%
• Median HH income: $58,817
• Composite: 41.51/100
• National rank: #3454
• State rank: #115 of 540 in MI

Livability — Marysville

• Score: 78/100
• State rank: #114
• US rank: #2700

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marysville, MI
• City population: 9,942
• Population (ZIP): 9,942

Population outlook (St. Clair County) Hauer SSP2

• Today (2025): 154,587 people
• By 2030: 150,031 · -2.9%
• By 2040: 138,177 · -10.6%
• By 2050: 124,390 · -19.5%
• By 2075: 95,825 · -38.0%
• By 2100: 68,672 · -55.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 1% Asian 1% Black 1%
• Common ancestry: Romanian 11% Iranian 6% Lithuanian 5%
• Foreign-born: 2% · Canada, Philippines
• Languages at home: 98% English-only · Other Asian/Pacific 1%

Political lean MEDSL · St. Clair

• 2024 margin: Solid R (+34.6) · D 32.0% · R 66.6% · Other 1.4%
• 2008→2024 swing: -37.3pp toward R · 2008: 2.6pp · 2024: -34.6pp
• All cycles: 2024: R+34.6 2020: R+30.2 2016: R+31.4 2012: R+7.1 2008: D+2.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -98.64%
• Current HPI: 188.3932
• 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

+71.0% since first listed

16 events — show timeline

• 2026-06-03 Listed $205,000 REALCOMP
• 2026-06-03 Listed $205,000 MiRealSource-MiMLS
• 2007-03-02 Sold (Public Records) $123,900 Public Records
• 2007-02-02 Sold (MLS) $123,900 REALCOMP
• 2007-02-02 Sold (MLS) $123,900 MiRealSource-MiMLS
• 2007-01-29 Listing Removed — MiRealSource-MiMLS
• 2007-01-18 Listed $123,900 REALCOMP
• 2007-01-18 Listed $123,900 MiRealSource-MiMLS
• 2005-11-14 Listing Removed — MiRealSource-MiMLS
• 2005-08-23 Listing Removed — REALCOMP
• 2004-12-09 Listed $119,900 REALCOMP
• 2004-12-09 Listed $119,900 MiRealSource-MiMLS
• 2004-10-29 Listing Removed — REALCOMP
• 2004-10-29 Listing Removed — MiRealSource-MiMLS
• 2004-04-29 Listed $119,900 REALCOMP
• 2004-04-29 Listed $119,900 MiRealSource-MiMLS

Property tax history

+2.7%/yr

Latest (2025): $2,063 · +4.2% YoY. Source: county tax records.