9780 Garfield Rd · Freeland, MI 48623

$249,900

3 bd · 1.0 ba · 1,320 sqft · SingleFamily public records · 16 Days on market

Built 1963 1.75 ac lot $189/sqft · 18% below area Est $337k · 26% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.8/30.0
• Schools +5.1/10.0
• DSCR +4.5/10.0
• Livability +3.6/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Now available. .. 3 bedroom, 2 bathroom , full basement home, situated on 1.75 acres. Home boasts updated kitchen with tile flooring and concrete counter tops, large living room with hardwood flooring. Master bedroom has walk-in closet and new tiled bath and stand up shower completed with double sink vanity and concrete counter tops. Updates include newer furnace, central air, windows, plumbing and electrical. Water and gas available at the road. Call today for your personal showing. .. .

Key facts

• 1.75 acre lot
• 2 garage spots
• Built 1963

Property features AI

Finance

• Other: Property sits on approximately 1.75 acres

Exterior

• Parking: Attached garage with 2 parking spaces
• Utilities: Public water; Septic sewer
• Home design: Residential, single-story; Built in 1963; Below-grade finished space (basement finished area listed)
• Construction: Block foundation
• Exterior features: Wood exterior; Front porch; Road frontage

Interior

• Kitchen: First-floor kitchen, approximately 15 x 14
• Bedrooms: Three first-floor bedrooms — 12 x 11 (carpet), 10 x 10 (carpet), and ~9' wide (carpet)
• Flooring: Carpet in bedrooms; Wood flooring in living room; Ceramic tile in bathrooms
• Bathrooms: Two full bathrooms, both on the first floor with ceramic flooring
• Heating & cooling: Forced-air heating; Central A/C; LP/Propane fuel; Propane hot water heater
• Interior features: 9 total rooms; Basement (block foundation)
• Laundry & utility: Basement provides utility space

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $70 ($837/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 $197k (21.4% below list).
• Recommended offer: $197k (21.4% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 3.2% in Freeland — 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 72/100 on livability (#230 in MI) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Freeland Community School District (suburban): math 54% / reading 61% proficiency, ranked #46 of 540 in MI (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: 94 active listings in the ZIP; 154 units permitted in Saginaw County in 2024 (0 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.
• Saginaw County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 23y 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.

Recommended offer $196,531 (21.4% below list)

Questions for the listing agent

1. Built in 1963 — 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: 0.79% ✗
• Cap rate: 6.63%
• Cash-on-cash: 1.20%
• DSCR: 1.05
• GRM: 10.6

CMA / ARV

• ARV (median comp): $336,981
• List price: $249,900
• Delta: -25.84%
• Verdict: UNDERPRICED
• Comps: 12 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9780 Garfield Rd	0.00mi	3/2.0	1,465 (+11%)	0mo	$249,900	$171	77

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: -14.5%
• Equity multiple: 0.48×
• Total profit: $-36,174
• Equity at exit: $37,261

10-year hold

• IRR: -5.8%
• Equity multiple: 0.62×
• Total profit: $-26,270
• Equity at exit: $21,607

Cash invested: $69,972 (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 48623

• Home prices YoY: -26.7%
• Active inventory: 94
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,965 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$68 /mo · $819/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $70

Break-even live

Break-even rent $1,877

Max offer price $249,900

Occupancy floor 91%

Sensitivity live

Price	-10% $211	-5% $140	+0% $70	+5% $-1	+10% $-72
Rent	-10% $-86	-5% $-8	+0% $70	+5% $147	+10% $225
Rate	-1.0pp $196	-0.5pp $133	base $70	+0.5pp $5	+1.0pp $-61

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-05-15
   status Pending 563-char remark
2. 2026-05-06
   historical Keep Showing-Contgcy Appl 563-char remark
3. 2026-04-29
   listed $249,900 Active 563-char remark
4. 2017-03-31
   soldstatus $132,500
5. 2017-03-29
   soldstatus $132,500 493-char remark

   Show marketing remark (493 chars)

   Now available. .. 3 bedroom, 2 bathroom , full basement home, situated on 1.75 acres. Home boasts updated kitchen with tile flooring and concrete counter tops, large living room with hardwood flooring. Master bedroom has walk-in closet and new tiled bath and stand up shower completed with double sink vanity and concrete counter tops. Updates include newer furnace, central air, windows, plumbing and electrical. Water and gas available at the road. Call today for your personal showing. .. .

6. 2017-03-29
   soldstatus $132,500 Closed

   Show marketing remark (493 chars)

   Now available. .. 3 bedroom, 2 bathroom , full basement home, situated on 1.75 acres. Home boasts updated kitchen with tile flooring and concrete counter tops, large living room with hardwood flooring. Master bedroom has walk-in closet and new tiled bath and stand up shower completed with double sink vanity and concrete counter tops. Updates include newer furnace, central air, windows, plumbing and electrical. Water and gas available at the road. Call today for your personal showing. .. .

7. 2017-02-14
   status Pending

   Show marketing remark (493 chars)

   Now available. .. 3 bedroom, 2 bathroom , full basement home, situated on 1.75 acres. Home boasts updated kitchen with tile flooring and concrete counter tops, large living room with hardwood flooring. Master bedroom has walk-in closet and new tiled bath and stand up shower completed with double sink vanity and concrete counter tops. Updates include newer furnace, central air, windows, plumbing and electrical. Water and gas available at the road. Call today for your personal showing. .. .

8. 2017-01-19
   listed $134,900 Active

   Show marketing remark (493 chars)

   Now available. .. 3 bedroom, 2 bathroom , full basement home, situated on 1.75 acres. Home boasts updated kitchen with tile flooring and concrete counter tops, large living room with hardwood flooring. Master bedroom has walk-in closet and new tiled bath and stand up shower completed with double sink vanity and concrete counter tops. Updates include newer furnace, central air, windows, plumbing and electrical. Water and gas available at the road. Call today for your personal showing. .. .

9. 2017-01-19
   listed $134,900 493-char remark

   Show marketing remark (493 chars)

   Now available. .. 3 bedroom, 2 bathroom , full basement home, situated on 1.75 acres. Home boasts updated kitchen with tile flooring and concrete counter tops, large living room with hardwood flooring. Master bedroom has walk-in closet and new tiled bath and stand up shower completed with double sink vanity and concrete counter tops. Updates include newer furnace, central air, windows, plumbing and electrical. Water and gas available at the road. Call today for your personal showing. .. .

10. 2009-12-30
    soldstatus $91,000
11. 2009-12-30
    soldstatus $91,000
12. 2009-12-10
    historical
13. 2009-11-18
    listed $99,900
14. 2009-11-18
    listed $99,900
15. 2004-08-13
    soldstatus $120,000
16. 2004-08-03
    historical
17. 2004-08-02
    soldstatus $120,000
18. 2004-08-02
    soldstatus $120,000
19. 2004-03-08
    listed $122,950
20. 2004-03-08
    listed $122,950
21. 2003-11-20
    historical
22. 2003-05-20
    listed $129,900

ⓘ 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: $819 · $68/mo
• Projected year-2 tax: $2,334 · $194/mo
• Expected delta: +$1,515/yr (+$126/mo · 185.0%)

ⓘ 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 · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,584
• − Mortgage interest: −$13,998
• − Property taxes: −$819
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,887
• − Management: −$1,887
• − Depreciation: −$7,270
• Taxable loss: −$3,526
• Est. tax savings @ 24.0%: +$846
• After-tax cash flow: $1,683/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: Freeland Community School District
• NCES district ID: 2615060
• Math proficiency: 54% ▼ -4.00%
• Reading proficiency: 61% ▼ -3.00%
• Median HH income: $70,875
• Composite: 50.98/100
• National rank: #1779
• State rank: #46 of 540 in MI

Livability — Freeland

• Score: 72/100
• State rank: #230
• US rank: #5824

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 15,126
• Population (ZIP): 15,126

Population outlook (Saginaw County) Hauer SSP2

• Today (2025): 180,568 people
• By 2030: 172,302 · -4.6%
• By 2040: 153,919 · -14.8%
• By 2050: 135,519 · -24.9%
• By 2075: 97,199 · -46.2%
• By 2100: 65,037 · -64.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 5% Black 5% Hispanic / Latino 3%
• Common ancestry: Romanian 11% Lithuanian 5% Slovak 2%
• Foreign-born: 0%
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Saginaw

• 2024 margin: Toss-up / Even · D 47.7% · R 51.0% · Other 1.4%
• 2008→2024 swing: -20.6pp toward R · 2008: 17.3pp · 2024: -3.3pp
• All cycles: 2024: R+3.3 2020: D+0.3 2016: R+1.1 2012: D+11.9 2008: D+17.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.02%
• Current HPI: 213.8908
• 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

+92.4% since first listed

24 events — show timeline

• 2026-06-09 Sold (Public Records) $249,900 Public Records
• 2026-06-06 Sold (MLS) $249,900 MiRealSource-MiMLS
• 2026-05-15 Pending — MiRealSource-MiMLS
• 2026-05-06 Contingent — MiRealSource-MiMLS
• 2026-04-29 Listed $249,900 MiRealSource-MiMLS
• 2017-03-31 Sold (Public Records) $132,500 Public Records
• 2017-03-29 Sold (MLS) $132,500 MiRealSource-MiMLS
• 2017-03-29 Sold (MLS) $132,500 REALCOMP
• 2017-02-14 Pending — MiRealSource-MiMLS
• 2017-01-19 Listed $134,900 MiRealSource-MiMLS
• 2017-01-19 Listed $134,900 REALCOMP
• 2009-12-30 Sold (MLS) $91,000 MiRealSource-MiMLS
• 2009-12-30 Sold (MLS) $91,000 REALCOMP
• 2009-12-10 Listing Removed — MiRealSource-MiMLS
• 2009-11-18 Listed $99,900 MiRealSource-MiMLS
• 2009-11-18 Listed $99,900 REALCOMP
• 2004-08-13 Sold (Public Records) $120,000 Public Records
• 2004-08-03 Listing Removed — MiRealSource-MiMLS
• 2004-08-02 Sold (MLS) $120,000 REALCOMP
• 2004-08-02 Sold (MLS) $120,000 MiRealSource-MiMLS
• 2004-03-08 Listed $122,950 REALCOMP
• 2004-03-08 Listed $122,950 MiRealSource-MiMLS
• 2003-11-20 Listing Removed — REALCOMP
• 2003-05-20 Listed $129,900 REALCOMP

Property tax history

-4.9%/yr

Latest (2025): $819 · -71.3% YoY. Source: county tax records.