306 E Sugnet Rd · Midland, MI 48642

$245,000

3 bd · 1.0 ba · 1,404 sqft · SingleFamily public records · 2 Days on market

Built 1942 10,019 sqft lot Est $220k · 11% over

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Why this score? — see what drove the F 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 +10.1/30.0
• Schools +4.9/10.0
• Livability +4.2/5.0
• DSCR +2.9/10.0
• Rent growth +2.7/5.0
• 1% rule +2.5/10.0
• ARV discount +2.5/15.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming home in the heart of Midland, offering a combination of space and convenience. Featuring 4 bedrooms and 2 and a half baths, this home provides flexibility for families, guests, or work from home needs. The main floor has two bedrooms and a full bath, making everyday living easy and accessible. Upstairs, you will find two additional bedrooms and a half bath, making it an ideal setup for kids, guests, or a private office. The finished basement adds more versatility with a full bath and plenty of room for a second living room, kids play area, or storage. Additional features included a three seasons room with fire place, bonus room over the garage, fenced back yard, and attached two car garage. Backing up to a city park and located near schools, shopping and everything Midland has to offer, this house is one you will want to see. Schedule a showing today!

Key facts

• Fenced back yard
• Finished basement
• Three seasons room

Tags

• FINISHED BASEMENT
• THREE SEASONS ROOM
• FENCED BACK YARD
• BONUS ROOM OVER GARAGE
• BACKING UP TO CITY PARK

Property features AI

Finance

• Other: Lot dimensions approximately 80 x 130 (0.23 acre)
• HOA & community: Homeowners association

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and a half stories; Residential zoning
• Construction: Brick and vinyl siding exterior
• Exterior features: Front porch

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator
• Bedrooms: Total rooms: 6
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Gas water heater; Dishwasher; Oven; Refrigerator; Range; Basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $245k.

Deal economics

• At list price, monthly cash flow is $-142 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $220k (10.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $184k (24.8% below list).
• Recommended offer: $184k (24.8% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 4.4% in Midland — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 85/100 on livability (#28 in MI, #578 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: commute F.
• Midland Public Schools (urban): math 49% / reading 64% proficiency, ranked #62 of 540 in MI (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents flat; 95 active listings in the ZIP; solid renter incomes; 320 units permitted in Midland County in 2024 (204 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.
• Midland County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $184,221 (24.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1942 — 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 A-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: 0.75% ✗
• Cap rate: 5.60%
• Cash-on-cash: -2.48%
• DSCR: 0.89
• GRM: 11.1

CMA / ARV

• ARV (on-the-fly): $220,428
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
114 E Sugnet St	0.10mi	3/1.0	1,445 (+3%)	4mo	$142,000	$98	87
3906 Lancaster St	0.43mi	3/1.5	1,376 (-2%)	3mo	$207,500	$151	72
305 W Sugnet Rd	0.30mi	3/1.0	1,279 (-9%)	0mo	$241,717	$189	71
305 W Sugnet Rd	0.30mi	3/1.0	1,279 (-9%)	0mo	$241,717	$189	71
210 E Meadowbrook Dr	0.39mi	3/1.0	1,317 (-6%)	2mo	$207,000	$157	69
312 Wilson Dr	0.55mi	3/2.0	1,355 (-4%)	4mo	$202,000	$149	61
515 E Ashman St	0.48mi	2/1.0 (-1)	1,480 (+5%)	5mo	$160,000	$108	59
2918 Braley Ct	0.50mi	3/1.0	1,256 (-10%)	8mo	$210,000	$167	52
401 E Ashman St	0.46mi	2/2.0 (-1)	1,353 (-4%)	14mo	$215,000	$159	51
320 W Nickels St	0.60mi	3/1.0	1,244 (-11%)	6mo	$250,000	$201	48
1020 Wyllys St	0.72mi	2/2.0 (-1)	1,328 (-5%)	11mo	$195,000	$147	39
1108 Baldwin St	0.50mi	4/2.0 (+1)	1,236 (-12%)	14mo	$175,000	$142	36

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 · 0.6% rent growth · sell at horizon

5-year hold

• IRR: -23.0%
• Equity multiple: 0.23×
• Total profit: $-53,109
• Equity at exit: $36,530

10-year hold

• IRR: -24.7%
• Equity multiple: -0.09×
• Total profit: $-74,994
• Equity at exit: $21,183

Cash invested: $68,600 (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 48642

• Home prices YoY: -31.4%
• Rents YoY: 0.6%
• Active inventory: 95
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $1,842 medium
• Mortgage (P&I): −$1,285
• Tax from tax record: −$210 /mo · $2,523/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $-142

Break-even live

Break-even rent $2,022

Max offer price $219,947

Occupancy floor —

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-20
   status Pending

   Show marketing remark (888 chars)

   Welcome to this charming home in the heart of Midland, offering a combination of space and convenience. Featuring 4 bedrooms and 2 and a half baths, this home provides flexibility for families, guests, or work from home needs. The main floor has two bedrooms and a full bath, making everyday living easy and accessible. Upstairs, you will find two additional bedrooms and a half bath, making it an ideal setup for kids, guests, or a private office. The finished basement adds more versatility with a full bath and plenty of room for a second living room, kids play area, or storage. Additional features included a three seasons room with fire place, bonus room over the garage, fenced back yard, and attached two car garage. Backing up to a city park and located near schools, shopping and everything Midland has to offer, this house is one you will want to see. Schedule a showing today!

2. 2026-05-20
   status Pending 888-char remark

   Show marketing remark (888 chars)

   Welcome to this charming home in the heart of Midland, offering a combination of space and convenience. Featuring 4 bedrooms and 2 and a half baths, this home provides flexibility for families, guests, or work from home needs. The main floor has two bedrooms and a full bath, making everyday living easy and accessible. Upstairs, you will find two additional bedrooms and a half bath, making it an ideal setup for kids, guests, or a private office. The finished basement adds more versatility with a full bath and plenty of room for a second living room, kids play area, or storage. Additional features included a three seasons room with fire place, bonus room over the garage, fenced back yard, and attached two car garage. Backing up to a city park and located near schools, shopping and everything Midland has to offer, this house is one you will want to see. Schedule a showing today!

3. 2026-05-18
   listed $245,000 Active

   Show marketing remark (888 chars)

   Welcome to this charming home in the heart of Midland, offering a combination of space and convenience. Featuring 4 bedrooms and 2 and a half baths, this home provides flexibility for families, guests, or work from home needs. The main floor has two bedrooms and a full bath, making everyday living easy and accessible. Upstairs, you will find two additional bedrooms and a half bath, making it an ideal setup for kids, guests, or a private office. The finished basement adds more versatility with a full bath and plenty of room for a second living room, kids play area, or storage. Additional features included a three seasons room with fire place, bonus room over the garage, fenced back yard, and attached two car garage. Backing up to a city park and located near schools, shopping and everything Midland has to offer, this house is one you will want to see. Schedule a showing today!

4. 2026-05-18
   listed $245,000 Active 888-char remark

   Show marketing remark (888 chars)

   Welcome to this charming home in the heart of Midland, offering a combination of space and convenience. Featuring 4 bedrooms and 2 and a half baths, this home provides flexibility for families, guests, or work from home needs. The main floor has two bedrooms and a full bath, making everyday living easy and accessible. Upstairs, you will find two additional bedrooms and a half bath, making it an ideal setup for kids, guests, or a private office. The finished basement adds more versatility with a full bath and plenty of room for a second living room, kids play area, or storage. Additional features included a three seasons room with fire place, bonus room over the garage, fenced back yard, and attached two car garage. Backing up to a city park and located near schools, shopping and everything Midland has to offer, this house is one you will want to see. Schedule a showing today!

ⓘ 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: $2,523 · $210/mo
• Projected year-2 tax: $3,148 · $262/mo
• Expected delta: +$625/yr (+$52/mo · 24.8%)

ⓘ 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 2/10 Low 7 d/yr ≥98°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: $22,107
• − Mortgage interest: −$13,724
• − Property taxes: −$2,523
• − Insurance: −$1,225
• − Repairs & maintenance: −$1,769
• − Management: −$1,769
• − Depreciation: −$7,127
• Taxable loss: −$6,030
• Est. tax savings @ 24.0%: +$1,447
• After-tax cash flow: $-255/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: Midland Public Schools
• NCES district ID: 2623820
• Math proficiency: 49% ▼ -6.00%
• Reading proficiency: 64% ▼ -3.00%
• Median HH income: $55,844
• Composite: 48.67/100
• National rank: #2105
• State rank: #62 of 540 in MI

Livability — Midland

• Score: 85/100
• State rank: #28
• US rank: #578

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Midland, MI
• County: Midland County · 66,531 people
• City population: 66,531
• Metro: Midland, MI
• Population (ZIP): 34,039
• Household income: $77,847
• Rent vs Own: 25.3% rent · 74.7% own
• Severe rent burden: 935.0

Population outlook (Midland County) Hauer SSP2

• Today (2025): 83,968 people
• By 2030: 83,368 · -0.7%
• By 2040: 80,713 · -3.9%
• By 2050: 76,698 · -8.7%
• By 2075: 67,617 · -19.5%
• By 2100: 57,529 · -31.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 4% Asian 4% Two or more races 3% Black 2%
• Common ancestry: Romanian 8% Lithuanian 5% Italian 3%
• Foreign-born: 5% · Canada, China, Vietnam
• Languages at home: 95% English-only · Other Indo-European 1% Spanish 1% Chinese 1%

Political lean MEDSL · Midland

• 2024 margin: R (+15.2) · D 41.6% · R 56.8% · Other 1.6%
• 2008→2024 swing: -11.6pp toward R · 2008: -3.6pp · 2024: -15.2pp
• All cycles: 2024: R+15.2 2020: R+14.6 2016: R+19.4 2012: R+15.5 2008: R+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -87.89%
• Current HPI: 192.0812
• Rent YoY: ▲ 0.60%
• Metro: Midland, 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

+0.0% since first listed

4 events — show timeline

• 2026-05-20 Pending — REALCOMP
• 2026-05-20 Pending — MiRealSource-MiMLS
• 2026-05-18 Listed $245,000 REALCOMP
• 2026-05-18 Listed $245,000 MiRealSource-MiMLS

Property tax history

+2.6%/yr

Latest (2024): $2,523 · +4.9% YoY. Source: county tax records.