306 N Carland St · Marion, MI 49665

$97,900

4 bd · 1.0 ba · 1,855 sqft · SingleFamily · 2 Days on market

Built 1900 Fair condition 8,712 sqft lot $53/sqft · 48% below area Est $189k · 48% under

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Why this score? — see what drove the A- 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 +27.7/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +9.8/10.0
• 1% rule +7.6/10.0
• Schools +3.6/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

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

• Covered front porch
• Screened in porch
• Farmhouse style

Tags

• FARMHOUSE STYLE
• ORIGINAL HARDWOOD FLOORS
• COVERED FRONT PORCH
• SCREENED IN PORCH

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $98k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $296 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $98k).
• Cap rate 9.9% vs local median 3.0% 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: crime F, amenities F, commute 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.
• Zoned schools: Marion Elementary School (math 37% / reading 47%, grade F, #547 of 1,397 statewide, top 41%, 184 students, 80% FRL); Marion High School (math 17% / reading 42%, grade F, #441 of 713 statewide, top 64%, 235 students, 70% FRL) — zoned schools average 75% FRL vs 57% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 38 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 $10k of equity ($677 loan paydown + $10k 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 $27k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 8y ago; this cycle's ask has dropped $47k (32%) 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 $97,900

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 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: 1.26% ✓
• Cap rate: 9.92%
• Cash-on-cash: 12.95%
• DSCR: 1.58
• GRM: 6.6

CMA / ARV

• ARV (median comp): $188,539
• List price: $97,900
• Delta: -47.01%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 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%)	8mo	$285,000	$150	74
409 Fifth St	0.12mi	4/2.5	1,806 (-3%)	18mo	$215,000	$119	69
202 W Main St	0.30mi	4/2.5	1,902 (+2%)	9mo	$218,000	$115	68
313 E Main St	0.13mi	3/2.5 (-1)	1,694 (-9%)	5mo	$229,900	$136	64
111 N Clark St	0.30mi	3/2.0 (-1)	1,824 (-2%)	19mo	$195,000	$107	58

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: 33.8%
• Equity multiple: 3.63×
• Total profit: $72,179
• Equity at exit: $88,196

10-year hold

• IRR: 29.2%
• Equity multiple: 8.21×
• Total profit: $197,774
• Equity at exit: $190,198

Cash invested: $27,412 (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: 38
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,231 medium
• Mortgage (P&I): −$513
• Tax est. 1.5%: −$122 /mo · $1,468/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $296

Break-even live

Break-even rent $856

Max offer price $97,900

Occupancy floor 71%

Sensitivity live

Price	-10% $363	-5% $330	+0% $296	+5% $262	+10% $228
Rent	-10% $199	-5% $247	+0% $296	+5% $344	+10% $393
Rate	-1.0pp $345	-0.5pp $321	base $296	+0.5pp $270	+1.0pp $245

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: $24,475
• Closing costs: $2,937
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-08-08
   days on market $97,900 Active 2 DOM
2. 2026-08-07
   remarks 574-char remark
3. 2026-08-07
   pricedays on marketlisting id $97,900 Active 1 DOM
4. 2026-08-03
   days on market $99,900 Active 292 DOM
5. 2026-07-31
   days on market $99,900 Active 289 DOM
6. 2026-07-30
   days on market $99,900 Active 288 DOM
7. 2026-07-29
   days on market $99,900 Active 287 DOM
8. 2026-07-27
   days on market $99,900 Active 285 DOM
9. 2026-07-25
   days on market $99,900 Active 283 DOM
10. 2026-07-24
    days on market $99,900 Active 282 DOM
11. 2026-07-23
    days on market $99,900 Active 281 DOM
12. 2026-07-22
    days on market $99,900 Active 280 DOM
13. 2026-07-21
    days on market $99,900 Active 279 DOM
14. 2026-07-18
    days on market $99,900 Active 276 DOM
15. 2026-07-16
    days on market $99,900 Active 274 DOM
16. 2026-07-15
    days on market $99,900 Active 273 DOM
17. 2026-07-14
    days on market $99,900 Active 272 DOM
18. 2026-07-13
    days on market $99,900 Active 271 DOM
19. 2026-07-12
    days on market $99,900 Active 270 DOM
20. 2026-07-12
    days on market $99,900 Active 269 DOM
21. 2026-07-10
    days on market $99,900 Active 268 DOM
22. 2026-07-09
    pricedays on market $99,900 Active 267 DOM
23. 2026-07-07
    days on market $124,900 Active 265 DOM
24. 2026-07-06
    days on market $124,900 Active 264 DOM
25. 2026-07-05
    days on market $124,900 Active 263 DOM
26. 2026-07-05
    days on market $124,900 Active 262 DOM
27. 2026-07-03
    days on market $124,900 Active 261 DOM
28. 2026-07-02
    days on market $124,900 Active 260 DOM
29. 2026-07-01
    days on market $124,900 Active 259 DOM
30. 2026-06-30
    days on market $124,900 Active 258 DOM
31. 2026-06-29
    days on market $124,900 Active 257 DOM
32. 2026-06-28
    days on market $124,900 Active 256 DOM
33. 2026-06-27
    days on market $124,900 Active 255 DOM
34. 2026-06-26
    days on market $124,900 Active 253 DOM
35. 2026-06-22
    days on market $124,900 Active 250 DOM
36. 2026-06-21
    days on market $124,900 Active 249 DOM
37. 2026-06-21
    days on market $124,900 Active 248 DOM
38. 2026-06-18
    days on market $124,900 Active 246 DOM
39. 2026-06-17
    days on market $124,900 Active 245 DOM
40. 2026-06-16
    days on market $124,900 Active 244 DOM
41. 2026-06-15
    days on market $124,900 Active 243 DOM
42. 2026-06-13
    days on market $124,900 Active 241 DOM
43. 2026-06-12
    days on market $124,900 Active 240 DOM
44. 2026-06-09
    days on market $124,900 Active 237 DOM
45. 2026-06-08
    days on market $124,900 Active 236 DOM
46. 2026-06-07
    days on market $124,900 Active 235 DOM
47. 2026-06-05
    days on market $124,900 Active 233 DOM
48. 2026-06-04
    days on market $124,900 Active 231 DOM
49. 2026-06-02
    days on market $124,900 Active 230 DOM
50. 2026-06-01
    days on market $124,900 Active 229 DOM

ⓘ 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: $14,770
• − Mortgage interest: −$5,484
• − Property taxes: −$1,468
• − Insurance: −$490
• − Repairs & maintenance: −$1,182
• − Management: −$1,182
• − Depreciation: −$2,848
• Taxable income: $2,117
• Est. tax owed @ 24.0%: −$508
• After-tax cash flow: $3,042/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.

Condition & rehab AI · 9 photos

Fair 45/100 Moderate rehab Est. rehab $46,375–$83,475 screening

This historic home in downtown Marion requires moderate repairs and maintenance to improve its condition and value. Key areas for attention include the exterior siding, flooring, and landscaping. Painting the exterior and replacing worn flooring will significantly enhance its curb appeal and marketability.

Components & finishes AI

Roof asphalt shingle · good

Deferred maintenance Est. $500–$2,000 screening

• Minor Roof (roof) — No visible signs of damage or wear on the roof.

Repairs flagged

• Minor roof — No visible damage
• Moderate exterior siding — Some discoloration
• Major flooring — Worn hardwood floors
• Minor interior walls — Painted walls, some wear
• Minor landscaping — Some overgrown areas
• Major fencing — Decaying fence

Value-add opportunities

• Resale Paint exterior siding — Enhances curb appeal ↑
• Resale Replace worn flooring — Improves living space ↑
• Both Trim overgrown areas — Enhances curb appeal and maintains property value ↑
• Resale Repair/replace fence — Improves property value and safety ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 36/100

Zoned Schools

Elementary Marion Elementary School F MI #547/1,397 Nat'l #17,861/41,679 High Marion High School F MI #441/713 Nat'l #11,215/17,239

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

D Composite livability gradescore 59/100

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
• County: Osceola · 21,724 people
• Population (ZIP): 4,022
• Household income: $51,125
• Rent vs Own: 13.0% rent · 87.0% own
• Severe rent burden: 2% of renters

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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%

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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%

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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

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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