2405 100th Ave · Evart, MI 49631

$149,900

2 bd · 2.0 ba · 1,500 sqft · SingleFamily · 21 Days on market

Built 2012 0.34 ac lot $100/sqft · 27% below area Est $204k · 27% under

---

Why this score? — see what drove the D- 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 +7.8/30.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• DSCR +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

2-story home in Evart offering a spacious, functional layout. Features 2 bedrooms and 2 full bathrooms with large rooms and plenty of natural light throughout. Exterior includes a covered area and deck space, adding to overall usability and outdoor enjoyment. Property offers views of Saddlebag Lake, an all-sports lake. Detached garage provides ample storage space. Situated in a quiet setting with room to make improvements and add value. Ideal for buyers looking for space and the ability to update to their liking.

Key facts

• Quiet setting
• Deck space
• Detached garage

Tags

• DECK SPACE
• VIEWS OF SADDLEBAG LAKE
• DETACHED GARAGE
• QUIET SETTING

Property features AI

Exterior

• Parking: Detached 3-car garage
• Utilities: Well water
• Home design: Colonial-style single family residence; Built in 2012
• Construction: Vinyl siding; Shingle roof; Built in 2012
• Exterior features: Well water; Lot approximately 0.34 acres

Interior

• Kitchen: Oven; Range; Refrigerator; Dining room adjacent to kitchen
• Bedrooms: Primary bedroom; Second bedroom
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating
• Interior features: 5 total rooms; Crawl space basement
• Laundry & utility: Washer; Dryer; Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $-168 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $126k (16.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $110k (26.7% below list).
• Recommended offer: $110k (26.7% below list) — sets the bar for 1% rule.
• Cap rate 5.0% vs local median 3.4% in Evart — 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 (#262 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, amenities F, commute F.
• Evart Public Schools (rural): math 27% / reading 34% proficiency, ranked #367 of 540 in MI (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 88 active listings in the ZIP; 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 $1k of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $30k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $68k; list at $150k implies a 121% gain — meaningful room to come down on a strong offer.

Recommended offer $109,906 (26.7% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-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. 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?
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: 0.73% ✗
• Cap rate: 4.95%
• Cash-on-cash: -4.79%
• DSCR: 0.79
• GRM: 11.4

CMA / ARV

• ARV (median comp): $204,307
• List price: $149,900
• Delta: -26.63%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2332 Lakeside Dr	0.11mi	3/1.5 (+1)	1,700 (+13%)	12mo	$345,900	$203	56

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: -24.4%
• Equity multiple: 0.17×
• Total profit: $-34,953
• Equity at exit: $22,351

10-year hold

• IRR: -19.8%
• Equity multiple: -0.05×
• Total profit: $-44,119
• Equity at exit: $12,961

Cash invested: $41,972 (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 49631

• Home prices YoY: -9.8%
• Active inventory: 88
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $1,099 medium
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $-168

Break-even live

Break-even rent $1,311

Max offer price $125,638

Occupancy floor —

Sensitivity live

Price	-10% $-64	-5% $-116	+0% $-168	+5% $-219	+10% $-271
Rent	-10% $-254	-5% $-211	+0% $-168	+5% $-124	+10% $-81
Rate	-1.0pp $-92	-0.5pp $-130	base $-168	+0.5pp $-207	+1.0pp $-246

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-05-14
   status Pending 518-char remark

   Show marketing remark (518 chars)

   2-story home in Evart offering a spacious, functional layout. Features 2 bedrooms and 2 full bathrooms with large rooms and plenty of natural light throughout. Exterior includes a covered area and deck space, adding to overall usability and outdoor enjoyment. Property offers views of Saddlebag Lake, an all-sports lake. Detached garage provides ample storage space. Situated in a quiet setting with room to make improvements and add value. Ideal for buyers looking for space and the ability to update to their liking.

2. 2026-05-14
   status Pending 518-char remark

   Show marketing remark (518 chars)

   2-story home in Evart offering a spacious, functional layout. Features 2 bedrooms and 2 full bathrooms with large rooms and plenty of natural light throughout. Exterior includes a covered area and deck space, adding to overall usability and outdoor enjoyment. Property offers views of Saddlebag Lake, an all-sports lake. Detached garage provides ample storage space. Situated in a quiet setting with room to make improvements and add value. Ideal for buyers looking for space and the ability to update to their liking.

3. 2026-05-14
   status Pending

   Show marketing remark (518 chars)

   2-story home in Evart offering a spacious, functional layout. Features 2 bedrooms and 2 full bathrooms with large rooms and plenty of natural light throughout. Exterior includes a covered area and deck space, adding to overall usability and outdoor enjoyment. Property offers views of Saddlebag Lake, an all-sports lake. Detached garage provides ample storage space. Situated in a quiet setting with room to make improvements and add value. Ideal for buyers looking for space and the ability to update to their liking.

4. 2026-05-05
   price $149,900 518-char remark

   Show marketing remark (518 chars)

   2-story home in Evart offering a spacious, functional layout. Features 2 bedrooms and 2 full bathrooms with large rooms and plenty of natural light throughout. Exterior includes a covered area and deck space, adding to overall usability and outdoor enjoyment. Property offers views of Saddlebag Lake, an all-sports lake. Detached garage provides ample storage space. Situated in a quiet setting with room to make improvements and add value. Ideal for buyers looking for space and the ability to update to their liking.

5. 2026-05-05
   price $149,900 518-char remark

   Show marketing remark (518 chars)

   2-story home in Evart offering a spacious, functional layout. Features 2 bedrooms and 2 full bathrooms with large rooms and plenty of natural light throughout. Exterior includes a covered area and deck space, adding to overall usability and outdoor enjoyment. Property offers views of Saddlebag Lake, an all-sports lake. Detached garage provides ample storage space. Situated in a quiet setting with room to make improvements and add value. Ideal for buyers looking for space and the ability to update to their liking.

6. 2026-05-05
   price $149,900

   Show marketing remark (518 chars)

   2-story home in Evart offering a spacious, functional layout. Features 2 bedrooms and 2 full bathrooms with large rooms and plenty of natural light throughout. Exterior includes a covered area and deck space, adding to overall usability and outdoor enjoyment. Property offers views of Saddlebag Lake, an all-sports lake. Detached garage provides ample storage space. Situated in a quiet setting with room to make improvements and add value. Ideal for buyers looking for space and the ability to update to their liking.

7. 2026-04-23
   listed $179,900 Active 518-char remark

   Show marketing remark (518 chars)

   2-story home in Evart offering a spacious, functional layout. Features 2 bedrooms and 2 full bathrooms with large rooms and plenty of natural light throughout. Exterior includes a covered area and deck space, adding to overall usability and outdoor enjoyment. Property offers views of Saddlebag Lake, an all-sports lake. Detached garage provides ample storage space. Situated in a quiet setting with room to make improvements and add value. Ideal for buyers looking for space and the ability to update to their liking.

8. 2026-04-23
   listed $179,900 Active 518-char remark

   Show marketing remark (518 chars)

   2-story home in Evart offering a spacious, functional layout. Features 2 bedrooms and 2 full bathrooms with large rooms and plenty of natural light throughout. Exterior includes a covered area and deck space, adding to overall usability and outdoor enjoyment. Property offers views of Saddlebag Lake, an all-sports lake. Detached garage provides ample storage space. Situated in a quiet setting with room to make improvements and add value. Ideal for buyers looking for space and the ability to update to their liking.

9. 2026-04-23
   listed $179,900 Active

   Show marketing remark (518 chars)

   2-story home in Evart offering a spacious, functional layout. Features 2 bedrooms and 2 full bathrooms with large rooms and plenty of natural light throughout. Exterior includes a covered area and deck space, adding to overall usability and outdoor enjoyment. Property offers views of Saddlebag Lake, an all-sports lake. Detached garage provides ample storage space. Situated in a quiet setting with room to make improvements and add value. Ideal for buyers looking for space and the ability to update to their liking.

10. 2009-06-05
    soldstatus $67,710
11. 2009-06-05
    soldstatus $67,710

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥94°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: $13,189
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$1,055
• − Management: −$1,055
• − Depreciation: −$4,361
• Taxable loss: −$4,677
• Est. tax savings @ 24.0%: +$1,122
• After-tax cash flow: $-890/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: Evart Public Schools
• NCES district ID: 2613560
• Math proficiency: 27% ▲ 2.00%
• Reading proficiency: 34% ▬ 0.00%
• Median HH income: $37,734
• Composite: 25.42/100
• National rank: #7455
• State rank: #367 of 540 in MI

Livability — Evart

• Score: 72/100
• State rank: #262
• US rank: #6440

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,646

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 (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Iranian 5% Romanian 4% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1% Tagalog/Filipino 0%

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: ▼ -30.25%
• Current HPI: 277.6004
• 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

+121.4% since first listed

11 events — show timeline

• 2026-05-14 Pending — REALCOMP
• 2026-05-14 Pending — MiRealSource-MiMLS
• 2026-05-14 Pending — SW Michigan MLS
• 2026-05-05 Price Changed $149,900 MiRealSource-MiMLS
• 2026-05-05 Price Changed $149,900 REALCOMP
• 2026-05-05 Price Changed $149,900 SW Michigan MLS
• 2026-04-23 Listed $179,900 REALCOMP
• 2026-04-23 Listed $179,900 SW Michigan MLS
• 2026-04-23 Listed $179,900 MiRealSource-MiMLS
• 2009-06-05 Sold (Public Records) $67,710 Public Records
• 2009-06-05 Sold (Public Records) $67,710 Public Records