306 N Carland St · Marion, MI 49665

$124,900

4 bd · 1.0 ba · 1,855 sqft · SingleFamily · 246 Days on market

Built 1900 0.59 ac lot $67/sqft · 31% below area Est $182k · 31% under

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Why this score? — see what drove the B- 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 +20.4/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +6.5/10.0
• 1% rule +5.4/10.0
• Schools +3.8/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This home has a bit of everything, including it's incredible location in the heart of downtown Marion. This beautiful historic home boasts a double corner lot, 4 bedrooms, large study, and a two-story barn to keep your toys in! The kitchen provides a convenient walk-in pantry, and there is plenty of room for entertaining with large dining/living room areas, and the spacious yard. Don't miss this opportunity to own a piece of history. This property is now active in an online auction. All offers must be submitted through the property's listing page on www. auction.com. The sale will be subject to a 5% buyer's premium pursuant to the Auction Terms and Conditions (minimums may apply). All auction bids will be processed subject to seller approval.

Key facts

• Spacious yard
• Double corner lot
• Two-story barn

Tags

• DOUBLE CORNER LOT
• WALK-IN PANTRY
• TWO-STORY BARN
• SPACIOUS YARD

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $161 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 3.1% in Marion — 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 59/100 on livability (#607 in MI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: schools D+, crime F, amenities F.
• Marion Public Schools (rural): math 33% / reading 53% proficiency, ranked #328 of 760 in MI (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 33 active listings in the ZIP; 5 units permitted in Osceola County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($864 loan paydown + $12k appreciation (10.0% local appreciation)).
• Osceola County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 246 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 8y ago; this cycle's ask has dropped $20k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 246 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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 F 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: 1.04% ✓
• Cap rate: 7.84%
• Cash-on-cash: 5.54%
• DSCR: 1.25
• GRM: 8.0

CMA / ARV

• ARV (median comp): $182,235
• List price: $124,900
• Delta: -31.46%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
419 5th St	0.14mi	3/2.0 (-1)	1,904 (+3%)	6mo	$285,000	$150	75
409 Fifth St	0.12mi	4/2.5	1,806 (-3%)	16mo	$215,000	$119	71
202 W Main St	0.30mi	4/2.5	1,902 (+2%)	8mo	$218,000	$115	69
313 E Main St	0.13mi	3/2.5 (-1)	1,694 (-9%)	3mo	$229,900	$136	66
111 N Clark St	0.30mi	3/2.0 (-1)	1,824 (-2%)	18mo	$195,000	$107	60
205 S Blevins St Lot : 78,85	0.52mi	3/2.0 (-1)	1,739 (-6%)	23mo	$221,527	$127	37
205 S Blevins St	0.53mi	3/2.0 (-1)	1,739 (-6%)	23mo	$221,527	$127	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.3%
• Equity multiple: 3.24×
• Total profit: $78,320
• Equity at exit: $112,520

10-year hold

• IRR: 24.6%
• Equity multiple: 7.37×
• Total profit: $222,597
• Equity at exit: $242,653

Cash invested: $34,972 (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 49665

• Home prices YoY: 11.3%
• Active inventory: 33
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,297 medium
• Mortgage (P&I): −$655
• Tax est. 1.5%: −$156 /mo · $1,874/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $161

Break-even live

Break-even rent $1,093

Max offer price $124,900

Occupancy floor 83%

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Listing history 41 events

1. 2026-06-18
   days on market $124,900 Active 246 DOM
2. 2026-06-17
   days on market $124,900 Active 245 DOM
3. 2026-06-16
   days on market $124,900 Active 244 DOM
4. 2026-06-15
   days on market $124,900 Active 243 DOM
5. 2026-06-13
   days on market $124,900 Active 241 DOM
6. 2026-06-12
   days on market $124,900 Active 240 DOM
7. 2026-06-09
   days on market $124,900 Active 237 DOM
8. 2026-06-08
   days on market $124,900 Active 236 DOM
9. 2026-06-07
   days on market $124,900 Active 235 DOM
10. 2026-06-05
    days on market $124,900 Active 233 DOM
11. 2026-06-04
    days on market $124,900 Active 231 DOM
12. 2026-06-02
    days on market $124,900 Active 230 DOM
13. 2026-06-01
    days on market $124,900 Active 229 DOM
14. 2026-05-31
    days on market $124,900 Active 228 DOM
15. 2026-05-31
    days on market $124,900 Active 227 DOM
16. 2025-12-21
    price $134,900 752-char remark

    Show marketing remark (752 chars)

    This home has a bit of everything, including it's incredible location in the heart of downtown Marion. This beautiful historic home boasts a double corner lot, 4 bedrooms, large study, and a two-story barn to keep your toys in! The kitchen provides a convenient walk-in pantry, and there is plenty of room for entertaining with large dining/living room areas, and the spacious yard. Don't miss this opportunity to own a piece of history. This property is now active in an online auction. All offers must be submitted through the property's listing page on www. auction.com. The sale will be subject to a 5% buyer's premium pursuant to the Auction Terms and Conditions (minimums may apply). All auction bids will be processed subject to seller approval.

17. 2025-12-20
    price $134,900 752-char remark

    Show marketing remark (752 chars)

    This home has a bit of everything, including it's incredible location in the heart of downtown Marion. This beautiful historic home boasts a double corner lot, 4 bedrooms, large study, and a two-story barn to keep your toys in! The kitchen provides a convenient walk-in pantry, and there is plenty of room for entertaining with large dining/living room areas, and the spacious yard. Don't miss this opportunity to own a piece of history. This property is now active in an online auction. All offers must be submitted through the property's listing page on www. auction.com. The sale will be subject to a 5% buyer's premium pursuant to the Auction Terms and Conditions (minimums may apply). All auction bids will be processed subject to seller approval.

18. 2025-12-20
    price $134,900

    Show marketing remark (752 chars)

    This home has a bit of everything, including it's incredible location in the heart of downtown Marion. This beautiful historic home boasts a double corner lot, 4 bedrooms, large study, and a two-story barn to keep your toys in! The kitchen provides a convenient walk-in pantry, and there is plenty of room for entertaining with large dining/living room areas, and the spacious yard. Don't miss this opportunity to own a piece of history. This property is now active in an online auction. All offers must be submitted through the property's listing page on www. auction.com. The sale will be subject to a 5% buyer's premium pursuant to the Auction Terms and Conditions (minimums may apply). All auction bids will be processed subject to seller approval.

19. 2025-10-13
    listed $144,900 Active 752-char remark

    Show marketing remark (752 chars)

    This home has a bit of everything, including it's incredible location in the heart of downtown Marion. This beautiful historic home boasts a double corner lot, 4 bedrooms, large study, and a two-story barn to keep your toys in! The kitchen provides a convenient walk-in pantry, and there is plenty of room for entertaining with large dining/living room areas, and the spacious yard. Don't miss this opportunity to own a piece of history. This property is now active in an online auction. All offers must be submitted through the property's listing page on www. auction.com. The sale will be subject to a 5% buyer's premium pursuant to the Auction Terms and Conditions (minimums may apply). All auction bids will be processed subject to seller approval.

20. 2025-10-13
    listed $144,900 Active 752-char remark

    Show marketing remark (752 chars)

    This home has a bit of everything, including it's incredible location in the heart of downtown Marion. This beautiful historic home boasts a double corner lot, 4 bedrooms, large study, and a two-story barn to keep your toys in! The kitchen provides a convenient walk-in pantry, and there is plenty of room for entertaining with large dining/living room areas, and the spacious yard. Don't miss this opportunity to own a piece of history. This property is now active in an online auction. All offers must be submitted through the property's listing page on www. auction.com. The sale will be subject to a 5% buyer's premium pursuant to the Auction Terms and Conditions (minimums may apply). All auction bids will be processed subject to seller approval.

21. 2025-10-13
    listed $144,900 Active

    Show marketing remark (752 chars)

    This home has a bit of everything, including it's incredible location in the heart of downtown Marion. This beautiful historic home boasts a double corner lot, 4 bedrooms, large study, and a two-story barn to keep your toys in! The kitchen provides a convenient walk-in pantry, and there is plenty of room for entertaining with large dining/living room areas, and the spacious yard. Don't miss this opportunity to own a piece of history. This property is now active in an online auction. All offers must be submitted through the property's listing page on www. auction.com. The sale will be subject to a 5% buyer's premium pursuant to the Auction Terms and Conditions (minimums may apply). All auction bids will be processed subject to seller approval.

22. 2023-11-13
    soldstatus $120,000 Sold
23. 2023-11-13
    soldstatus $120,000 Sold
24. 2023-11-13
    soldstatus $120,000 Closed
25. 2023-08-22
    historical Contingent - Continue To Show
26. 2023-08-22
    historical Keep Showing-Contgcy Appl
27. 2023-08-22
    historical Active - Contingent
28. 2023-07-20
    price $120,000
29. 2023-07-20
    price $120,000
30. 2023-07-20
    price $120,000
31. 2023-07-11
    price $134,900
32. 2023-07-11
    price $134,900
33. 2023-07-11
    price $134,900
34. 2023-06-29
    listed $145,900 Active
35. 2023-06-29
    listed $145,900 Active
36. 2023-06-29
    listed $145,900 Active
37. 2019-02-12
    soldstatus $74,000
38. 2019-02-12
    soldstatus $74,000
39. 2018-09-10
    listed $74,900
40. 2018-09-10
    listed $74,900
41. 2018-09-10
    listed $74,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $15,562
• − Mortgage interest: −$6,996
• − Property taxes: −$1,874
• − Insurance: −$624
• − Repairs & maintenance: −$1,245
• − Management: −$1,245
• − Depreciation: −$3,633
• Taxable loss: −$56
• Est. tax savings @ 24.0%: +$13
• After-tax cash flow: $1,950/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: Marion Public Schools
• NCES district ID: 2622800
• Math proficiency: 33% ▲ 16.00%
• Reading proficiency: 53% ▲ 31.00%
• Median HH income: $35,461
• Composite: 37.86/100
• National rank: #8710
• State rank: #328 of 760 in MI

Livability — Marion

• Score: 59/100
• State rank: #607
• US rank: #20314

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marion, MI
• Population (ZIP): 4,022

Population outlook (Osceola County) Hauer SSP2

• Today (2025): 21,724 people
• By 2030: 20,769 · -4.4%
• By 2040: 18,720 · -13.8%
• By 2050: 16,611 · -23.5%
• By 2075: 11,942 · -45.0%
• By 2100: 7,546 · -65.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Iranian 11% Romanian 3% Lithuanian 2%
• Foreign-born: 0%
• Languages at home: 94% English-only · German/W. Germanic 5% Spanish 1%

Political lean MEDSL · Osceola

• 2024 margin: Solid R (+47.9) · D 25.2% · R 73.1% · Other 1.7%
• 2008→2024 swing: -37.7pp toward R · 2008: -10.1pp · 2024: -47.9pp
• All cycles: 2024: R+47.9 2020: R+46.3 2016: R+43.7 2012: R+21.0 2008: R+10.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 26.88%
• Current HPI: 264.0932
• 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

+80.1% since first listed

26 events — show timeline

• 2025-12-21 Price Changed $134,900 MiRealSource-MiMLS
• 2025-12-20 Price Changed $134,900 REALCOMP
• 2025-12-20 Price Changed $134,900 SW Michigan MLS
• 2025-10-13 Listed $144,900 SW Michigan MLS
• 2025-10-13 Listed $144,900 REALCOMP
• 2025-10-13 Listed $144,900 MiRealSource-MiMLS
• 2023-11-13 Sold (MLS) $120,000 MiRealSource-MiMLS
• 2023-11-13 Sold (MLS) $120,000 SW Michigan MLS
• 2023-11-13 Sold (MLS) $120,000 REALCOMP
• 2023-08-22 Contingent — REALCOMP
• 2023-08-22 Contingent — MiRealSource-MiMLS
• 2023-08-22 Contingent — SW Michigan MLS
• 2023-07-20 Price Changed $120,000 MiRealSource-MiMLS
• 2023-07-20 Price Changed $120,000 REALCOMP
• 2023-07-20 Price Changed $120,000 SW Michigan MLS
• 2023-07-11 Price Changed $134,900 MiRealSource-MiMLS
• 2023-07-11 Price Changed $134,900 REALCOMP
• 2023-07-11 Price Changed $134,900 SW Michigan MLS
• 2023-06-29 Listed $145,900 MiRealSource-MiMLS
• 2023-06-29 Listed $145,900 SW Michigan MLS
• 2023-06-29 Listed $145,900 REALCOMP
• 2019-02-12 Sold (MLS) $74,000 SW Michigan MLS
• 2019-02-12 Sold (MLS) $74,000 REALCOMP
• 2018-09-10 Listed $74,900 MiRealSource-MiMLS
• 2018-09-10 Listed $74,900 SW Michigan MLS
• 2018-09-10 Listed $74,900 REALCOMP