124 School St · Williamston, MI 48895

$235,000

None bd · None ba · — sqft · SingleFamily · 37 Days on market

Built 1900 7,927 sqft lot

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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 +13.7/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +4.3/5.0
• DSCR +4.2/10.0
• 1% rule +4.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Income opportunity in Williamston Michigan. The duplex, rented on side A through April 24, 2027 for $1300 each month, has 3 beds/1 bath, deck, Michigan basement, and laundry. Side B is available for $1000 per month, has 2 beds/1 bath, laundry, deck, fresh paint and freshly cleaned carpets. The tenant pays all utilities and washer/dryer. Seller responsible for taxes, insurance, refrigerator, stove and disposal. Each side has its own front entrance and back exit to the deck. The home has a front, side and large back yard with ample parking spaces. Located directly across the street from the Williamston Community Park. Walking distance to downtown and Interstate I-96. The realtor is related to the Sellers.

Key facts

• Front entrance
• Michigan basement
• Large back yard

Tags

• MICHIGAN BASEMENT
• FRONT ENTRANCE
• BACK EXIT
• LARGE BACK YARD
• AMPLE PARKING SPACES
• ACROSS FROM PARK

Property features AI

Exterior

• Parking: Gravel parking, no garage
• Utilities: 100 amp electric service; Public sewer; High-speed internet available; Cable connected
• Home design: One-and-one-half story property; Built in 1900; Corner location in the Owen subdivision
• Construction: Stone construction; Concrete perimeter foundation
• Exterior features: Front and back yards; City lot with a few trees; Gentle sloping lot; Near public transit; Covered front porch; Shingle roof; City street frontage; Asphalt road access

Interior

• Flooring: Carpet; Vinyl
• Heating & cooling: Forced air heating; No central air
• Interior features: Carpet and vinyl flooring; Basement with concrete floor and Michigan-style finish
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $19 ($230/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 $214k (8.8% below list).
• Recommended offer: $214k (8.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 86/100 on livability (#19 in MI, #359 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities D-, health & safety D-.
• Williamston Community Schools (town): math 49% / reading 62% proficiency, ranked #55 of 540 in MI (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Williamston Discovery Elementary School (425 students, 24% FRL); Williamston Middle School (math 42% / reading 62%, grade C+, #95 of 493 statewide, top 20%, 405 students, 23% FRL); Williamston High School (math 52% / reading 77%, grade B-, #46 of 713 statewide, top 7%, 593 students, 19% FRL).
• Market conditions: 58 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 350 units permitted in Ingham County in 2024 (186 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Ingham County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($228k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $70k; list at $235k implies a 236% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $214,346 (8.8% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 9% 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. 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 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: 0.91% ✗
• Cap rate: 6.39%
• Cash-on-cash: 0.35%
• DSCR: 1.02
• GRM: 9.1

CMA / ARV

No comps found within radius.

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
370 S Cedar St	0.07mi	4/2.0	1,491	1mo	$187,500	$126	83
407 S Cedar St	0.10mi	3/1.0	1,120	1mo	$210,000	$188	82
131 W South St	0.07mi	2/1.0	1,296	6mo	$203,000	$157	79
501 High St	0.38mi	3/1.0	1,073	1mo	$180,000	$168	69
945 Southfield Dr	0.36mi	4/2.0	1,920	2mo	$335,000	$174	69
868 Southfield Dr	0.32mi	3/2.0	1,828	6mo	$242,000	$132	68
425 N Putnam St	0.43mi	4/2.0	1,768	3mo	$309,900	$175	65
324 E Church St	0.55mi	4/2.0	1,353	1mo	$265,000	$196	61
824 E Grand Riv	0.49mi	3/1.0	1,302	4mo	$230,000	$177	61
718 W Grand River Ave	0.56mi	3/2.0	1,534	2mo	$250,000	$163	60
880 Holly Ct	0.52mi	3/2.0	2,642	5mo	$600,000	$227	59
719 Williams St	0.57mi	2/2.0	1,532	3mo	$210,500	$137	58

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

Projected returns pro-forma

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

5-year hold

• IRR: -15.7%
• Equity multiple: 0.44×
• Total profit: $-36,794
• Equity at exit: $35,039

10-year hold

• IRR: -7.2%
• Equity multiple: 0.54×
• Total profit: $-30,209
• Equity at exit: $20,319

Cash invested: $65,800 (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 48895

• Active inventory: 58
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,143 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$344 /mo · $4,126/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$450
• Net cashflow: $19

Break-even live

Break-even rent $2,119

Max offer price $235,000

Occupancy floor 94%

Sensitivity live

Price	-10% $152	-5% $86	+0% $19	+5% $-47	+10% $-114
Rent	-10% $-150	-5% $-65	+0% $19	+5% $104	+10% $189
Rate	-1.0pp $138	-0.5pp $79	base $19	+0.5pp $-42	+1.0pp $-104

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
123 E Riverside St Williamston, MI	3.0	2.0	1292	$1,975	$1.53	15d	1	0.48mi
2155 Mitchell Rd Williamston, MI	3.0	2.0	1492	$2,530	$1.70	15d	1	1.09mi

Listing history 30 events

1. 2026-06-21
   days on market $235,000 Active 37 DOM
2. 2026-06-18
   days on market $235,000 Active 34 DOM
3. 2026-06-17
   days on market $235,000 Active 33 DOM
4. 2026-06-16
   days on market $235,000 Active 32 DOM
5. 2026-06-15
   days on market $235,000 Active 31 DOM
6. 2026-06-14
   days on market $235,000 Active 29 DOM
7. 2026-06-13
   days on market $235,000 Active 28 DOM
8. 2026-06-10
   days on market $235,000 Active 26 DOM
9. 2026-06-09
   days on market $235,000 Active 25 DOM
10. 2026-06-08
    days on market $235,000 Active 24 DOM
11. 2026-06-07
    days on market $235,000 Active 23 DOM
12. 2026-06-05
    days on market $235,000 Active 20 DOM
13. 2026-06-03
    days on market $235,000 Active 19 DOM
14. 2026-06-02
    days on market $235,000 Active 18 DOM
15. 2026-06-01
    days on market $235,000 Active 17 DOM
16. 2026-05-31
    days on market $235,000 Active 16 DOM
17. 2026-05-30
    days on market $235,000 Active 15 DOM
18. 2026-05-15
    listed $235,000 Active 720-char remark

    Show marketing remark (713 chars)

    Income opportunity in Williamston Michigan. The duplex, rented on side A through April 24, 2027 for $1300 each month, has 3 beds/1 bath, deck, Michigan basement, and laundry. Side B is available for $1000 per month, has 2 beds/1 bath, laundry, deck, fresh paint and freshly cleaned carpets. The tenant pays all utilities and washer/dryer. Seller responsible for taxes, insurance, refrigerator, stove and disposal. Each side has its own front entrance and back exit to the deck. The home has a front, side and large back yard with ample parking spaces. Located directly across the street from the Williamston Community Park. Walking distance to downtown and Interstate I-96. The realtor is related to the Sellers.

19. 2026-05-15
    listed $235,000 Active 713-char remark

    Show marketing remark (713 chars)

    Income opportunity in Williamston Michigan. The duplex, rented on side A through April 24, 2027 for $1300 each month, has 3 beds/1 bath, deck, Michigan basement, and laundry. Side B is available for $1000 per month, has 2 beds/1 bath, laundry, deck, fresh paint and freshly cleaned carpets. The tenant pays all utilities and washer/dryer. Seller responsible for taxes, insurance, refrigerator, stove and disposal. Each side has its own front entrance and back exit to the deck. The home has a front, side and large back yard with ample parking spaces. Located directly across the street from the Williamston Community Park. Walking distance to downtown and Interstate I-96. The realtor is related to the Sellers.

20. 2025-08-27
    historical
21. 2025-06-18
    price $234,900
22. 2025-06-18
    price $234,900
23. 2025-06-02
    price $239,900
24. 2025-06-02
    price $239,900
25. 2025-05-02
    price $245,000
26. 2025-05-02
    price $245,000
27. 2025-04-25
    price $254,900
28. 2025-04-25
    price $254,900
29. 2025-04-15
    listed $270,000 Active
30. 2017-10-04
    soldstatus $70,000

ⓘ 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: $4,126 · $344/mo
• Projected year-2 tax: $4,126 · $344/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,722
• − Mortgage interest: −$13,164
• − Property taxes: −$4,126
• − Insurance: −$1,175
• − Repairs & maintenance: −$2,058
• − Management: −$2,058
• − Depreciation: −$6,836
• Taxable loss: −$3,695
• Est. tax savings @ 24.0%: +$887
• After-tax cash flow: $1,117/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: Williamston Community Schools
• NCES district ID: 2636420
• Math proficiency: 49% ▼ -15.00%
• Reading proficiency: 62% ▼ -8.00%
• Median HH income: $79,113
• Composite: 50.08/100
• National rank: #1909
• State rank: #55 of 540 in MI

Livability — Williamston

• Score: 86/100
• State rank: #19
• US rank: #359

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Williamston, MI
• City population: 11,294
• Population (ZIP): 11,294

Population outlook (Ingham County) Hauer SSP2

• Today (2025): 300,362 people
• By 2030: 307,808 · +2.5%
• By 2040: 320,492 · +6.7%
• By 2050: 333,223 · +10.9%
• By 2075: 373,693 · +24.4%
• By 2100: 392,021 · +30.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Italian 7% Romanian 6% Lithuanian 5%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 1% French/Haitian/Cajun 1% German/W. Germanic 1%

Political lean MEDSL · Ingham

• 2024 margin: Strong D (+29.7) · D 63.9% · R 34.2% · Other 2.0%
• 2008→2024 swing: -3.6pp toward R · 2008: 33.3pp · 2024: 29.7pp
• All cycles: 2024: D+29.7 2020: D+32.2 2016: D+27.6 2012: D+27.9 2008: D+33.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -175.37%
• Current HPI: 202.0808
• 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

+235.7% since first listed

13 events — show timeline

• 2026-05-15 Listed $235,000 REALCOMP
• 2026-05-15 Listed $235,000 Greater Lansing AoR
• 2025-08-27 Listing Removed — REALCOMP
• 2025-06-18 Price Changed $234,900 REALCOMP
• 2025-06-18 Price Changed $234,900 Greater Lansing AoR
• 2025-06-02 Price Changed $239,900 REALCOMP
• 2025-06-02 Price Changed $239,900 Greater Lansing AoR
• 2025-05-02 Price Changed $245,000 REALCOMP
• 2025-05-02 Price Changed $245,000 Greater Lansing AoR
• 2025-04-25 Price Changed $254,900 REALCOMP
• 2025-04-25 Price Changed $254,900 Greater Lansing AoR
• 2025-04-15 Listed $270,000 REALCOMP
• 2017-10-04 Sold (Public Records) $70,000 Public Records

Property tax history

+1.7%/yr

Latest (2025): $4,126 · -11.7% YoY. Source: county tax records.