212 N McLellan St · Bay City, MI 48708

$129,999

4 bd · 2.0 ba · 1,746 sqft · SingleFamily public records · 25 Days on market

Built 1925 $74/sqft · at area comps Est $134k · at est.

---

Why this score? — see what drove the C 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 +24.4/30.0
• ARV discount +8.7/15.0
• DSCR +7.9/10.0
• 1% rule +5.9/10.0
• Livability +3.4/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 4 Bedroom, 2 Bath Home is Just What your Buyer has been Searching for! Seller has Completed Many Updates to Bring out the Charm & Character that this Home has to Offer! To List Just a Few; New Flooring in Dining Room, Living Room, Kitchen & Main Floor Bathroom/2020, Also New Flooring in Entranceway & Stairs Leading to Upper Level/2025. Hisense Oven/2023, New Rheem Furnace/2026 (There is also a 2nd Furnace in Basement) Roof/Approx. 2015, New Copper Line from Street to Home Installed by City of Bay City & Much More! Convenient Location to Schools, Shopping, Restaurants & the Beautiful Downtown Bay City District! Don't Let the Opportunity to Tour this Exquisite Home Slip through your Fingers before it is Sold!

Key facts

• Hisense oven
• Garage
• Built 1925

Tags

• NEW FLOORING IN DINING ROOM
• NEW FLOORING IN LIVING ROOM
• NEW FLOORING IN KITCHEN
• NEW FLOORING IN ENTRANCEWAY
• NEW FLOORING IN STAIRS
• HISENSE OVEN

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $264 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $128k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 5.5% in Bay 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 68/100 on livability (#360 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, amenities D, crime F.
• Bay City School District (urban): math 27% / reading 40% proficiency, ranked #317 of 540 in MI (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 148 active listings in the ZIP; 39 units permitted in Bay County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Bay County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 18y ago 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 $50k; list at $130k implies a 160% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $128,049 (1.5% below list)

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.09% ✓
• Cap rate: 8.73%
• Cash-on-cash: 8.72%
• DSCR: 1.39
• GRM: 7.6

CMA / ARV

• ARV (median comp): $133,640
• List price: $129,999
• Delta: -2.72%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
212 N McLellan St	0.00mi	4/2.0	1,746 (0%)	0mo	$125,000	$72	100
109 N Johnson St	0.14mi	4/2.0	1,842 (+6%)	1mo	$197,000	$107	84
421 Harold St	0.34mi	3/1.0 (-1)	1,762 (+1%)	2mo	$120,000	$68	72
1713 9th St	0.18mi	3/2.0 (-1)	1,633 (-6%)	5mo	$130,000	$80	72
722 S Van Buren St	0.68mi	4/2.0	1,830 (+5%)	0mo	$169,900	$93	60
407 S Jackson St	0.55mi	4/1.0	1,650 (-6%)	4mo	$45,000	$27	58
414 S Monroe St	0.62mi	4/2.0	1,638 (-6%)	5mo	$133,500	$82	56
2229 7th St	0.60mi	3/2.0 (-1)	1,888 (+8%)	1mo	$60,000	$32	53
1912 5th Blvd	0.52mi	4/1.5	1,921 (+10%)	5mo	$80,000	$42	52
2147 7th St	0.59mi	3/1.5 (-1)	1,874 (+7%)	5mo	$189,000	$101	49
2105 6th St	0.51mi	3/1.5 (-1)	1,960 (+12%)	5mo	$199,900	$102	44
414 S Jackson St	0.57mi	3/1.0 (-1)	1,500 (-14%)	2mo	$109,900	$73	39

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: -3.1%
• Equity multiple: 0.88×
• Total profit: $-4,232
• Equity at exit: $19,383

10-year hold

• IRR: 6.6%
• Equity multiple: 1.49×
• Total profit: $17,978
• Equity at exit: $11,240

Cash invested: $36,400 (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 48708

• Home prices YoY: -30.9%
• Active inventory: 148
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,418 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$120 /mo · $1,442/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $264

Break-even live

Break-even rent $1,084

Max offer price $129,999

Occupancy floor 76%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-05-10
   status Pending 756-char remark

   Show marketing remark (756 chars)

   This 4 Bedroom, 2 Bath Home is Just What your Buyer has been Searching for! Seller has Completed Many Updates to Bring out the Charm & Character that this Home has to Offer! To List Just a Few; New Flooring in Dining Room, Living Room, Kitchen & Main Floor Bathroom/2020, Also New Flooring in Entranceway & Stairs Leading to Upper Level/2025. Hisense Oven/2023, New Rheem Furnace/2026 (There is also a 2nd Furnace in Basement) Roof/Approx. 2015, New Copper Line from Street to Home Installed by City of Bay City & Much More! Convenient Location to Schools, Shopping, Restaurants & the Beautiful Downtown Bay City District! Don't Let the Opportunity to Tour this Exquisite Home Slip through your Fingers before it is Sold!

2. 2026-05-02
   status Active 756-char remark

   Show marketing remark (756 chars)

   This 4 Bedroom, 2 Bath Home is Just What your Buyer has been Searching for! Seller has Completed Many Updates to Bring out the Charm & Character that this Home has to Offer! To List Just a Few; New Flooring in Dining Room, Living Room, Kitchen & Main Floor Bathroom/2020, Also New Flooring in Entranceway & Stairs Leading to Upper Level/2025. Hisense Oven/2023, New Rheem Furnace/2026 (There is also a 2nd Furnace in Basement) Roof/Approx. 2015, New Copper Line from Street to Home Installed by City of Bay City & Much More! Convenient Location to Schools, Shopping, Restaurants & the Beautiful Downtown Bay City District! Don't Let the Opportunity to Tour this Exquisite Home Slip through your Fingers before it is Sold!

3. 2026-04-23
   historical Keep Showing-Contgcy Appl 756-char remark

   Show marketing remark (756 chars)

   This 4 Bedroom, 2 Bath Home is Just What your Buyer has been Searching for! Seller has Completed Many Updates to Bring out the Charm & Character that this Home has to Offer! To List Just a Few; New Flooring in Dining Room, Living Room, Kitchen & Main Floor Bathroom/2020, Also New Flooring in Entranceway & Stairs Leading to Upper Level/2025. Hisense Oven/2023, New Rheem Furnace/2026 (There is also a 2nd Furnace in Basement) Roof/Approx. 2015, New Copper Line from Street to Home Installed by City of Bay City & Much More! Convenient Location to Schools, Shopping, Restaurants & the Beautiful Downtown Bay City District! Don't Let the Opportunity to Tour this Exquisite Home Slip through your Fingers before it is Sold!

4. 2026-04-14
   listed $129,999 Active 756-char remark

   Show marketing remark (756 chars)

   This 4 Bedroom, 2 Bath Home is Just What your Buyer has been Searching for! Seller has Completed Many Updates to Bring out the Charm & Character that this Home has to Offer! To List Just a Few; New Flooring in Dining Room, Living Room, Kitchen & Main Floor Bathroom/2020, Also New Flooring in Entranceway & Stairs Leading to Upper Level/2025. Hisense Oven/2023, New Rheem Furnace/2026 (There is also a 2nd Furnace in Basement) Roof/Approx. 2015, New Copper Line from Street to Home Installed by City of Bay City & Much More! Convenient Location to Schools, Shopping, Restaurants & the Beautiful Downtown Bay City District! Don't Let the Opportunity to Tour this Exquisite Home Slip through your Fingers before it is Sold!

5. 2009-12-04
   soldstatus $50,000
6. 2009-11-04
   soldstatus $47,000
7. 2009-10-22
   soldstatus $47,000
8. 2008-10-05
   listed $54,000

ⓘ 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: $1,442 · $120/mo
• Projected year-2 tax: $1,722 · $144/mo
• Expected delta: +$280/yr (+$23/mo · 19.4%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,020
• − Mortgage interest: −$7,282
• − Property taxes: −$1,442
• − Insurance: −$650
• − Repairs & maintenance: −$1,362
• − Management: −$1,362
• − Depreciation: −$3,782
• Taxable income: $1,140
• Est. tax owed @ 24.0%: −$274
• After-tax cash flow: $2,899/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: Bay City School District
• NCES district ID: 2604260
• Math proficiency: 27% ▼ -8.00%
• Reading proficiency: 40% ▼ -4.00%
• Median HH income: $43,833
• Composite: 28.47/100
• National rank: #6743
• State rank: #317 of 540 in MI

Livability — Bay City

• Score: 68/100
• State rank: #360
• US rank: #8912

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bay City, MI
• County: Bay County · 36,975 people
• City population: 25,635
• Metro: Bay City, MI
• Population (ZIP): 25,635
• Household income: $50,518
• Rent vs Own: 29.9% rent · 70.1% own
• Severe rent burden: 528.0

Population outlook (Bay County) Hauer SSP2

• Today (2025): 101,476 people
• By 2030: 98,152 · -3.3%
• By 2040: 89,711 · -11.6%
• By 2050: 80,614 · -20.6%
• By 2075: 60,544 · -40.3%
• By 2100: 41,603 · -59.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 11% Two or more races 10% Black 3%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Romanian 17% Lithuanian 7% Slovak 2%
• Foreign-born: 2% · Canada, South Korea
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Bay

• 2024 margin: R (+14.7) · D 42.0% · R 56.7% · Other 1.3%
• 2008→2024 swing: -30.0pp toward R · 2008: 15.3pp · 2024: -14.7pp
• All cycles: 2024: R+14.7 2020: R+11.6 2016: R+12.6 2012: D+6.0 2008: D+15.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -82.21%
• Current HPI: 183.5774
• Rent YoY: —
• Metro: Bay City, MI
• 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

+140.7% since first listed

8 events — show timeline

• 2026-05-10 Pending — MiRealSource-MiMLS
• 2026-05-02 Relisted — MiRealSource-MiMLS
• 2026-04-23 Contingent — MiRealSource-MiMLS
• 2026-04-14 Listed $129,999 MiRealSource-MiMLS
• 2009-12-04 Sold (Public Records) $50,000 Public Records
• 2009-11-04 Sold (Public Records) $47,000 Public Records
• 2009-10-22 Sold (MLS) $47,000 MiRealSource-MiMLS
• 2008-10-05 Listed $54,000 MiRealSource-MiMLS

Property tax history

-0.9%/yr

Latest (2025): $1,442 · -15.2% YoY. Source: county tax records.