21704 W North Ave · Reed City, MI 49677

$95,000

3 bd · 1.0 ba · 1,300 sqft · SingleFamily · 78 Days on market

Built 1971 0.88 ac lot Est $168k · 43% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.5/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Take a look! You could be set up on over an ACRE of land in the city, tucked away at the end of a quiet street, but walking distance from local restaurants, parks, and business centers. This 3 bed 1 bath ranch serves up up 1000 square feet of finished space, and includes a partial basement for storage and potential expansion. Set up your tour!

Key facts

• Quiet street
• Over an acre of land
• Potential expansion

Tags

• OVER AN ACRE OF LAND
• QUIET STREET
• WALKING DISTANCE FROM PARKS
• PARTIAL BASEMENT FOR STORAGE
• POTENTIAL EXPANSION

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $528 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $89k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.0% vs local median 4.0% in Reed City — 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 70/100 on livability (#316 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, crime D, amenities F.
• Reed City Area Public Schools (rural): math 30% / reading 39% proficiency, ranked #311 of 540 in MI (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 59 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 5 units permitted in Osceola County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Osceola County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 10y ago; this cycle's ask has dropped $14k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $26k; list at $95k implies a 265% gain — meaningful room to come down on a strong offer.

Recommended offer $89,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — 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 D 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: 1.58% ✓
• Cap rate: 12.97%
• Cash-on-cash: 23.84%
• DSCR: 2.06
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $167,700
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
306 W 5th Ave	0.19mi	3/1.0	1,200 (-8%)	8mo	$198,000	$165	72
531 W Franklin Ave	0.28mi	4/1.0 (+1)	1,390 (+7%)	1mo	$165,000	$119	70
544 W Upton Ave	0.35mi	2/2.0 (-1)	1,356 (+4%)	1mo	$175,000	$129	67
544 W Upton Ave	0.37mi	2/2.0 (-1)	1,356 (+4%)	1mo	$175,000	$129	66
253 W Stimson Ave	0.22mi	3/1.5	1,423 (+10%)	8mo	$175,000	$123	65
512 W Upton Ave	0.32mi	3/1.0	1,353 (+4%)	21mo	$162,000	$120	60
252 W Stimson Ave	0.18mi	3/2.0	1,200 (-8%)	20mo	$188,500	$157	58
302 S Patterson Rd	0.49mi	3/1.5	1,200 (-8%)	6mo	$185,000	$154	57
231 S Sears St	0.47mi	2/1.0 (-1)	1,225 (-6%)	20mo	$128,500	$105	47
302 W Osceola Ave	0.69mi	3/1.0	1,123 (-14%)	8mo	$180,700	$161	38
218 W Osceola Ave	0.72mi	4/1.0 (+1)	1,232 (-5%)	17mo	$165,000	$134	38

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: 17.0%
• Equity multiple: 1.69×
• Total profit: $18,287
• Equity at exit: $14,165

10-year hold

• IRR: 25.6%
• Equity multiple: 3.23×
• Total profit: $59,358
• Equity at exit: $8,214

Cash invested: $26,600 (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 49677

• Home prices YoY: -17.0%
• Active inventory: 59
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,500 medium
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,425/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $528

Break-even live

Break-even rent $831

Max offer price $95,000

Occupancy floor 60%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
206 S Higbee St Unit 1 Reed City, MI	2.0	1.0	1600	$1,500	$0.94	44d	1	0.52mi

Listing history 23 events

1. 2026-06-07
   status $95,000 Pending 78 DOM
2. 2026-06-05
   days on market $95,000 Active 78 DOM
3. 2026-06-04
   days on market $95,000 Active 76 DOM
4. 2026-06-02
   days on market $95,000 Active 75 DOM
5. 2026-06-01
   days on market $95,000 Active 74 DOM
6. 2026-05-31
   days on market $95,000 Active 73 DOM
7. 2026-05-31
   days on market $95,000 Active 72 DOM
8. 2026-04-30
   price $95,000 345-char remark

   Show marketing remark (345 chars)

   Take a look! You could be set up on over an ACRE of land in the city, tucked away at the end of a quiet street, but walking distance from local restaurants, parks, and business centers. This 3 bed 1 bath ranch serves up up 1000 square feet of finished space, and includes a partial basement for storage and potential expansion. Set up your tour!

9. 2026-04-29
   price $95,000 345-char remark

   Show marketing remark (345 chars)

   Take a look! You could be set up on over an ACRE of land in the city, tucked away at the end of a quiet street, but walking distance from local restaurants, parks, and business centers. This 3 bed 1 bath ranch serves up up 1000 square feet of finished space, and includes a partial basement for storage and potential expansion. Set up your tour!

10. 2026-04-29
    price $95,000

    Show marketing remark (345 chars)

    Take a look! You could be set up on over an ACRE of land in the city, tucked away at the end of a quiet street, but walking distance from local restaurants, parks, and business centers. This 3 bed 1 bath ranch serves up up 1000 square feet of finished space, and includes a partial basement for storage and potential expansion. Set up your tour!

11. 2026-04-11
    status Active 345-char remark

    Show marketing remark (345 chars)

    Take a look! You could be set up on over an ACRE of land in the city, tucked away at the end of a quiet street, but walking distance from local restaurants, parks, and business centers. This 3 bed 1 bath ranch serves up up 1000 square feet of finished space, and includes a partial basement for storage and potential expansion. Set up your tour!

12. 2026-04-11
    status Active 345-char remark

    Show marketing remark (345 chars)

    Take a look! You could be set up on over an ACRE of land in the city, tucked away at the end of a quiet street, but walking distance from local restaurants, parks, and business centers. This 3 bed 1 bath ranch serves up up 1000 square feet of finished space, and includes a partial basement for storage and potential expansion. Set up your tour!

13. 2026-04-11
    status Active

    Show marketing remark (345 chars)

    Take a look! You could be set up on over an ACRE of land in the city, tucked away at the end of a quiet street, but walking distance from local restaurants, parks, and business centers. This 3 bed 1 bath ranch serves up up 1000 square feet of finished space, and includes a partial basement for storage and potential expansion. Set up your tour!

14. 2026-04-08
    status Pending 345-char remark

    Show marketing remark (345 chars)

    Take a look! You could be set up on over an ACRE of land in the city, tucked away at the end of a quiet street, but walking distance from local restaurants, parks, and business centers. This 3 bed 1 bath ranch serves up up 1000 square feet of finished space, and includes a partial basement for storage and potential expansion. Set up your tour!

15. 2026-04-08
    status Pending 345-char remark

    Show marketing remark (345 chars)

    Take a look! You could be set up on over an ACRE of land in the city, tucked away at the end of a quiet street, but walking distance from local restaurants, parks, and business centers. This 3 bed 1 bath ranch serves up up 1000 square feet of finished space, and includes a partial basement for storage and potential expansion. Set up your tour!

16. 2026-04-08
    status Pending

    Show marketing remark (345 chars)

    Take a look! You could be set up on over an ACRE of land in the city, tucked away at the end of a quiet street, but walking distance from local restaurants, parks, and business centers. This 3 bed 1 bath ranch serves up up 1000 square feet of finished space, and includes a partial basement for storage and potential expansion. Set up your tour!

17. 2026-03-16
    listed $109,000 Active 345-char remark

    Show marketing remark (345 chars)

    Take a look! You could be set up on over an ACRE of land in the city, tucked away at the end of a quiet street, but walking distance from local restaurants, parks, and business centers. This 3 bed 1 bath ranch serves up up 1000 square feet of finished space, and includes a partial basement for storage and potential expansion. Set up your tour!

18. 2026-03-16
    listed $109,000 Active 345-char remark

    Show marketing remark (345 chars)

    Take a look! You could be set up on over an ACRE of land in the city, tucked away at the end of a quiet street, but walking distance from local restaurants, parks, and business centers. This 3 bed 1 bath ranch serves up up 1000 square feet of finished space, and includes a partial basement for storage and potential expansion. Set up your tour!

19. 2026-03-16
    listed $109,000 Active

    Show marketing remark (345 chars)

    Take a look! You could be set up on over an ACRE of land in the city, tucked away at the end of a quiet street, but walking distance from local restaurants, parks, and business centers. This 3 bed 1 bath ranch serves up up 1000 square feet of finished space, and includes a partial basement for storage and potential expansion. Set up your tour!

20. 2016-06-23
    soldstatus $26,000
21. 2016-06-23
    soldstatus $26,000
22. 2016-02-01
    listed $29,900
23. 2016-02-01
    listed $29,900

ⓘ 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: $18,000
• − Mortgage interest: −$5,321
• − Property taxes: −$1,425
• − Insurance: −$475
• − Repairs & maintenance: −$1,440
• − Management: −$1,440
• − Depreciation: −$2,764
• Taxable income: $5,135
• Est. tax owed @ 24.0%: −$1,232
• After-tax cash flow: $5,109/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: Reed City Area Public Schools
• NCES district ID: 2629490
• Math proficiency: 30% ▼ -3.00%
• Reading proficiency: 39% ▲ 1.00%
• Median HH income: $38,292
• Composite: 28.78/100
• National rank: #6668
• State rank: #311 of 540 in MI

Livability — Reed City

• Score: 70/100
• State rank: #316
• US rank: #7728

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,286

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 (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 3% Black 1%
• Common ancestry: Lithuanian 4% Romanian 4% Iranian 3%
• Foreign-born: 1%
• Languages at home: 95% English-only · German/W. Germanic 3% 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: ▼ -53.39%
• Current HPI: 260.3963
• 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

+217.7% since first listed

16 events — show timeline

• 2026-04-30 Price Changed $95,000 MiRealSource-MiMLS
• 2026-04-29 Price Changed $95,000 REALCOMP
• 2026-04-29 Price Changed $95,000 SW Michigan MLS
• 2026-04-11 Relisted — REALCOMP
• 2026-04-11 Relisted — MiRealSource-MiMLS
• 2026-04-11 Relisted — SW Michigan MLS
• 2026-04-08 Pending — REALCOMP
• 2026-04-08 Pending — MiRealSource-MiMLS
• 2026-04-08 Pending — SW Michigan MLS
• 2026-03-16 Listed $109,000 REALCOMP
• 2026-03-16 Listed $109,000 SW Michigan MLS
• 2026-03-16 Listed $109,000 MiRealSource-MiMLS
• 2016-06-23 Sold (MLS) $26,000 SW Michigan MLS
• 2016-06-23 Sold (MLS) $26,000 REALCOMP
• 2016-02-01 Listed $29,900 SW Michigan MLS
• 2016-02-01 Listed $29,900 REALCOMP