112 Elm St · Coldwater, MI 49036

$90,000

3 bd · 1.0 ba · 1,128 sqft · SingleFamily public records · 2 Days on market

Built 1915 0.52 ac lot Est $164k · 45% under

---

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 +29.8/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.2/10.0
• Livability +3.6/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nestled on a beautiful 0.52-acre lot shaded by mature trees, this 2-bedroom, 1-bath home offers space, character, and plenty of potential. Inside, you'll find generously sized living areas, a functional layout that includes a large kitchen, spacious bedrooms, and a dedicated laundry room. Several updates have already been started, including improvements to the bathroom and laundry room, as well as some new kitchen cabinets. Outside, the expansive yard offers room to garden, entertain, or simply enjoy the peaceful setting. Whether you're an investor, first-time buyer, or someone looking for a renovation project with strong potential, this property is ready for your vision and finishing touches. Property is being sold as-is. It is the responsibility of the parties looking to satisfy themselves as to the accuracy of this information. Taxes were obtained from the local accessor and the taxes could changer the buyer after a close transaction.

Key facts

• 0.52-acre lot
• Expansive yard
• Large kitchen

Tags

• 0.52-ACRE LOT
• MATURE TREES
• LARGE KITCHEN
• DEDICATED LAUNDRY ROOM
• EXPANSIVE YARD
• IMPROVEMENTS TO BATHROOM

Property features AI

Exterior

• Utilities: Public water
• Home design: Traditional-style single family residence; Built in 1915
• Construction: Other construction materials; Asphalt shingle roof
• Exterior features: Paved road access; Shed(s) on the property

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Has heating
• Interior features: Six total rooms; Crawl space and Michigan-style basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $329 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Cap rate 10.7% vs local median 3.3% in Coldwater — 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 71/100 on livability (#270 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, employment D+, amenities F.
• Coldwater Community Schools (town): math 26% / reading 37% proficiency, ranked #344 of 540 in MI (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 140 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 43 units permitted in Branch County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Branch County population projected at -18% 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 $25k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $90,000

Questions for the listing agent

1. Built in 1915 — 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. 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.
4. 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.
5. 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: 1.22% ✓
• Cap rate: 10.68%
• Cash-on-cash: 15.68%
• DSCR: 1.70
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $163,560
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
112 Elm St	0.00mi	2/1.0 (-1)	1,128 (0%)	0mo	$81,000	$72	95
227 Church St	0.40mi	2/1.5 (-1)	1,156 (+2%)	0mo	$105,000	$91	70
58 Sherman St	0.45mi	3/1.0	1,059 (-6%)	2mo	$185,000	$175	67
169 E Washington St	0.10mi	4/1.0 (+1)	1,296 (+15%)	1mo	$100,500	$78	64
95 S Monroe St	0.51mi	3/1.0	1,200 (+6%)	3mo	$71,000	$59	63
112 Cutter Ave	0.54mi	3/1.0	1,180 (+5%)	10mo	$167,500	$142	59
28 Avery Dr	0.62mi	3/1.5	1,176 (+4%)	5mo	$140,000	$119	58
88 N Sprague St	0.42mi	3/1.0	1,267 (+12%)	5mo	$190,000	$150	56
228 Cutter Ave	0.64mi	2/1.0 (-1)	1,200 (+6%)	8mo	$180,000	$150	48
236 Rose St	0.63mi	3/1.0	1,213 (+8%)	12mo	$200,000	$165	47
176 Smith St	0.67mi	3/1.0	1,255 (+11%)	8mo	$200,000	$159	43
195 Cutter Ave	0.63mi	2/1.5 (-1)	1,024 (-9%)	7mo	$148,450	$145	42

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: 6.5%
• Equity multiple: 1.25×
• Total profit: $6,355
• Equity at exit: $13,419

10-year hold

• IRR: 15.8%
• Equity multiple: 2.29×
• Total profit: $32,397
• Equity at exit: $7,782

Cash invested: $25,200 (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 49036

• Active inventory: 140
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,097 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$28 /mo · $334/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $329

Break-even live

Break-even rent $680

Max offer price $90,000

Occupancy floor 65%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
39 Whispering Pines Dr Coldwater, MI	1.0–3.0	1.0–2.0	1012	$1,040	$1.03	43d	1	0.41mi
313 W Chicago St Coldwater, MI	3.0	1.0	802	$1,300	$1.62	43d	1	1.17mi

Listing history 5 events

1. 2026-06-09
   listing id $90,000 Pending 2 DOM
2. 2026-06-02
   status $90,000 Pending 2 DOM
3. 2026-06-01
   days on market $90,000 Active 2 DOM
4. 2026-05-31
   remarks 699-char remark
5. 2026-05-31
   listed $90,000 Active 1 DOM

ⓘ 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: $334 · $28/mo
• Projected year-2 tax: $860 · $72/mo
• Expected delta: +$526/yr (+$44/mo · 157.8%)

ⓘ 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 3/10 Moderate 7 d/yr ≥98°F today · 16 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: $13,163
• − Mortgage interest: −$5,041
• − Property taxes: −$334
• − Insurance: −$450
• − Repairs & maintenance: −$1,053
• − Management: −$1,053
• − Depreciation: −$2,618
• Taxable income: $2,614
• Est. tax owed @ 24.0%: −$627
• After-tax cash flow: $3,324/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: Coldwater Community Schools
• NCES district ID: 2610140
• Math proficiency: 26% ▼ -12.00%
• Reading proficiency: 37% ▼ -5.00%
• Median HH income: $44,373
• Composite: 26.87/100
• National rank: #7101
• State rank: #344 of 540 in MI

Livability — Coldwater

• Score: 71/100
• State rank: #270
• US rank: #6664

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Coldwater, MI
• Population (ZIP): 24,697

Population outlook (Branch County) Hauer SSP2

• Today (2025): 41,079 people
• By 2030: 39,622 · -3.5%
• By 2040: 36,584 · -10.9%
• By 2050: 33,462 · -18.5%
• By 2075: 26,612 · -35.2%
• By 2100: 18,580 · -54.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 7% Two or more races 5% Black 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 5% Iranian 3% Lithuanian 2%
• Foreign-born: 8% · Canada
• Languages at home: 86% English-only · Arabic 7% Spanish 5% German/W. Germanic 1%

Political lean MEDSL · Branch

• 2024 margin: Solid R (+42.4) · D 28.0% · R 70.4% · Other 1.6%
• 2008→2024 swing: -36.2pp toward R · 2008: -6.1pp · 2024: -42.4pp
• All cycles: 2024: R+42.4 2020: R+38.5 2016: R+38.1 2012: R+18.7 2008: R+6.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -214.60%
• Current HPI: 192.653
• 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

+0.0% since first listed

3 events — show timeline

• 2026-05-30 Listed $90,000 REALCOMP
• 2026-05-30 Listed $90,000 MiRealSource-MiMLS
• 2026-05-30 Listed $90,000 SW Michigan MLS

Property tax history

-42.5%/yr

Latest (2024): $334 · -67.0% YoY. Source: county tax records.