310 N Bridge St

Linden, MI 48451

$139,900B-

6 bd · 4.0 ba · 1,496 sqft · Built 1850 · SingleFamily · Pending · 40 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,931/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$358
• HOA: −$0
• Vac / Maint / Mgmt: −$406
• Net cashflow: $434/mo
• Annual: $5,204/yr
• Cap rate: 10.01%
• Cash-on-cash: 13.29%
• DSCR: 1.59
• 1% rule: 1.38%
• Cash to close: $39,172

Investor read

• This is a 6-bed/4.0-bath single-family listed at $140k.
• At list price, monthly cash flow is $434 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• It's been on market 40 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#170 in MI, #4,456 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Linden Community Schools (suburban): math 38% / reading 54% proficiency, ranked #119 of 540 in MI (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Linden Elementary School (math 37% / reading 42%, grade F, #606 of 1,397 statewide, top 48%, 309 students, 36% FRL); Linden Middle School (math 36% / reading 52%, grade D, #173 of 493 statewide, top 36%, 583 students, 31% FRL); Linden High School (math 37% / reading 62%, grade D, #154 of 713 statewide, top 25%, 852 students, 26% FRL).
• Watch-outs: property tax is 2.6% of price; built in 1850 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 223 active listings in the ZIP; 419 units permitted in Genesee County in 2024 (68 in 5+ unit buildings).
• Genesee County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 6 sale attempts since 8y 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 $80k; list at $140k implies a 75% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~9 years — after that, you're playing with house money.
• Cap rate 10.0% vs local median 1.8% in Linden — 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.

Questions for listing agent

• It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1850 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.