225 Ingraham St · Bay City, MI 48708

$99,900

4 bd · 2.0 ba · 1,470 sqft · SingleFamily public records · 24 Days on market

Built 1900 5,227 sqft lot Est $135k · 26% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• 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

Cherished Family Home on Prime Bay City Corner Lot For the first time in generations, 225 Ingraham St is ready to welcome a new family. This charming 4-bedroom, 2-bathroom residence has been tightly held by the same family for years, preserving its warmth and ensuring it was never subjected to typical rental wear-and-tear. Spanning across two functional levels, the unique blueprint grants the top floor (2 bedrooms, 1 bath) its own private exterior entryway, yielding a world of possibilities for independent living setups. Valuable mechanical updates include vinyl replacement windows and a fresh new roof installed over half the home and the garage structure. From morning coffee on the spacio

Key facts

• Fresh new roof
• Fenced corner yard
• Spacious sunporch

Tags

• PRIME BAY CITY CORNER LOT
• PRIVATE EXTERIOR ENTRYWAY
• VINYL REPLACEMENT WINDOWS
• FRESH NEW ROOF
• FENCED CORNER YARD
• SPACIOUS SUNPORCH

Property features AI

Exterior

• Parking: Detached 2-car garage; Paved driveway
• Utilities: Public water; Public sanitary sewer; Natural gas service
• Home design: Residential property; 1 1/2-story structure; Built in 1900
• Construction: Asbestos exterior construction; Basement foundation
• Exterior features: Fenced yard; Corner lot; Road frontage

Interior

• Kitchen: Kitchen on first floor — 12 x 15, carpeted
• Bedrooms: Bedroom 1 (first floor) — 12 x 10, carpet; Bedroom 2 (first floor) — 10 x 10, carpet; Bedroom 3 (upper) — approx. 10 ft wide, carpet; Bedroom 4 (upper) — 12 x 8, carpet
• Flooring: Carpet in living areas and bedrooms; Vinyl in bathrooms
• Bathrooms: Two full bathrooms; Main bath (first floor) — vinyl flooring; Second bath (upper) — vinyl flooring
• Heating & cooling: Forced air heating (natural gas fuel); Ceiling fans and window-mounted air conditioning units
• Interior features: First-floor master bedroom; First-floor full bathroom; First-floor laundry; Full basement (block foundation)
• Laundry & utility: First-floor laundry; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $464 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.9% 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 $691 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $27k; list at $100k implies a 270% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $98,401 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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: 1.45% ✓
• Cap rate: 11.86%
• Cash-on-cash: 19.89%
• DSCR: 1.88
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $135,240
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1713 Marsac St	0.23mi	3/2.0 (-1)	1,325 (-10%)	8mo	$120,000	$91	61
1510 Stanton St	0.31mi	3/1.0 (-1)	1,380 (-6%)	10mo	$133,000	$96	58
1423 Stanton St	0.35mi	3/1.0 (-1)	1,310 (-11%)	2mo	$113,650	$87	55
513 31st St	0.49mi	4/2.0	1,662 (+13%)	6mo	$95,000	$57	50
1300 Lisk Dr	0.69mi	3/2.0 (-1)	1,432 (-3%)	11mo	$169,000	$118	50
907 Stanon St	0.64mi	3/1.0 (-1)	1,401 (-5%)	8mo	$23,000	$16	47
1913 Michigan Ave	0.64mi	4/1.5	1,638 (+11%)	3mo	$165,000	$101	47
1106 Marsac St	0.60mi	3/1.0 (-1)	1,378 (-6%)	10mo	$80,000	$58	45
2818 Fides Ct	0.67mi	3/2.0 (-1)	1,573 (+7%)	10mo	$250,000	$159	44
1617 Broadway St	0.54mi	3/1.0 (-1)	1,267 (-14%)	7mo	$70,000	$55	37
900 Jennison St	0.67mi	4/2.0	1,681 (+14%)	10mo	$168,000	$100	36
2501 S Jefferson St	0.58mi	4/1.0	1,252 (-15%)	12mo	$115,600	$92	34

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: 12.0%
• Equity multiple: 1.48×
• Total profit: $13,355
• Equity at exit: $14,895

10-year hold

• IRR: 21.0%
• Equity multiple: 2.78×
• Total profit: $49,713
• Equity at exit: $8,638

Cash invested: $27,972 (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 48708

• Home prices YoY: -30.9%
• Active inventory: 148
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,446 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$113 /mo · $1,360/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $464

Break-even live

Break-even rent $859

Max offer price $99,900

Occupancy floor 63%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $99,900 Active 24 DOM
2. 2026-06-18
   days on market $99,900 Active 23 DOM
3. 2026-06-17
   days on market $99,900 Active 22 DOM
4. 2026-06-17
   price $99,900 Active 21 DOM
5. 2026-06-16
   days on market $119,900 Active 21 DOM
6. 2026-06-15
   days on market $119,900 Active 20 DOM
7. 2026-06-14
   days on market $119,900 Active 18 DOM
8. 2026-06-12
   days on market $119,900 Active 17 DOM
9. 2026-06-09
   days on market $119,900 Active 14 DOM
10. 2026-06-08
    days on market $119,900 Active 13 DOM
11. 2026-06-07
    days on market $119,900 Active 12 DOM
12. 2026-06-05
    days on market $119,900 Active 9 DOM
13. 2026-06-03
    days on market $119,900 Active 8 DOM
14. 2026-06-02
    days on market $119,900 Active 7 DOM
15. 2026-06-01
    days on market $119,900 Active 6 DOM
16. 2026-06-01
    price $119,900 Active 5 DOM
17. 2026-05-31
    days on market $129,900 Active 5 DOM
18. 2026-05-30
    days on market $129,900 Active 4 DOM
19. 2026-05-26
    listed $129,900 Active
20. 2013-07-25
    soldstatus $27,000

ⓘ 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: $1,360 · $113/mo
• Projected year-2 tax: $1,449 · $121/mo
• Expected delta: +$89/yr (+$7/mo · 6.5%)

ⓘ 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,354
• − Mortgage interest: −$5,596
• − Property taxes: −$1,360
• − Insurance: −$500
• − Repairs & maintenance: −$1,388
• − Management: −$1,388
• − Depreciation: −$2,906
• Taxable income: $4,216
• Est. tax owed @ 24.0%: −$1,012
• After-tax cash flow: $4,552/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

+381.1% since first listed

2 events — show timeline

• 2026-05-26 Listed $129,900 MiRealSource-MiMLS
• 2013-07-25 Sold (Public Records) $27,000 Public Records

Property tax history

-0.4%/yr

Latest (2025): $1,360 · -15.2% YoY. Source: county tax records.