545 N Midland St · Merrill, MI 48637

$89,000

2 bd · 1.0 ba · 1,111 sqft · SingleFamily public records · 82 Days on market

0.43 ac lot $80/sqft · 20% below area Est $111k · 20% 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 +25.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.6/10.0
• 1% rule +6.2/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Key facts

• 0.43 acre lot
• Listed 81 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $216 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($996 rent vs $89k).
• Recommended offer: $84k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#612 in MI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: health & safety C-, schools D+, crime F.
• Merrill Community Schools (rural): math 19% / reading 32% proficiency, ranked #407 of 540 in MI (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 17 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 $615 of loan paydown is wiped out by about $3k 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 82 days — a 6% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 5y 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.
• Current owner paid $71k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $83,660 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.12% ✓
• Cap rate: 9.21%
• Cash-on-cash: 10.41%
• DSCR: 1.46
• GRM: 7.4

CMA / ARV

• ARV (median comp): $111,322
• List price: $89,000
• Delta: -20.05%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
555 N Midland St	0.02mi	1/1.0 (-1)	1,080 (-3%)	12mo	$105,000	$97	79
148 N Eddy St	0.30mi	2/1.0	1,132 (+2%)	6mo	$100,000	$88	78
305 E Saginaw St	0.38mi	2/1.0	1,130 (+2%)	20mo	$48,000	$42	62
145 S Johnson St	0.39mi	3/2.0 (+1)	1,155 (+4%)	7mo	$115,000	$100	61
220 W Saginaw St	0.32mi	2/1.0	1,073 (-3%)	24mo	$43,000	$40	59
646 S Melze St	0.69mi	2/1.0	1,152 (+4%)	6mo	$120,000	$104	56
398 E Saginaw St	0.40mi	3/1.0 (+1)	1,206 (+9%)	22mo	$164,900	$137	44
740 W Alice St	0.59mi	2/2.0	988 (-11%)	22mo	$131,000	$133	32

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: -0.7%
• Equity multiple: 0.97×
• Total profit: $-667
• Equity at exit: $13,270

10-year hold

• IRR: 9.0%
• Equity multiple: 1.69×
• Total profit: $17,098
• Equity at exit: $7,695

Cash invested: $24,920 (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 48637

• Home prices YoY: -16.4%
• Active inventory: 17
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $996 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$67 /mo · $804/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $216

Break-even live

Break-even rent $723

Max offer price $89,000

Occupancy floor 73%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 39 events

1. 2026-06-19
   days on market $89,000 Active 82 DOM
2. 2026-06-18
   days on market $89,000 Active 81 DOM
3. 2026-06-17
   days on market $89,000 Active 80 DOM
4. 2026-06-16
   days on market $89,000 Active 79 DOM
5. 2026-06-15
   days on market $89,000 Active 78 DOM
6. 2026-06-14
   days on market $89,000 Active 76 DOM
7. 2026-06-13
   days on market $89,000 Active 75 DOM
8. 2026-06-10
   days on market $89,000 Active 73 DOM
9. 2026-06-09
   days on market $89,000 Active 72 DOM
10. 2026-06-08
    days on market $89,000 Active 71 DOM
11. 2026-06-07
    days on market $89,000 Active 70 DOM
12. 2026-06-05
    days on market $89,000 Active 67 DOM
13. 2026-06-03
    days on market $89,000 Active 66 DOM
14. 2026-06-02
    days on market $89,000 Active 65 DOM
15. 2026-06-01
    days on market $89,000 Active 64 DOM
16. 2026-05-31
    days on market $89,000 Active 63 DOM
17. 2026-05-30
    days on market $89,000 Active 62 DOM
18. 2026-03-30
    listed $89,000 Active
19. 2026-03-29
    listed $89,000 Active
20. 2026-03-29
    listed $89,000 Active
21. 2023-10-11
    soldstatus $71,000 Sold
22. 2023-10-11
    soldstatus $71,000 Closed
23. 2023-08-24
    status Pending
24. 2023-08-24
    status Pending
25. 2023-08-10
    status Active
26. 2023-08-10
    status Active
27. 2023-08-07
    status Pending
28. 2023-08-07
    status Pending
29. 2023-08-03
    listed $75,000 Active
30. 2023-08-03
    listed $75,000 Active
31. 2021-11-19
    historical
32. 2021-11-19
    historical
33. 2021-11-11
    status Active
34. 2021-11-11
    status Active
35. 2021-11-03
    historical Contingent - Continue To Show
36. 2021-11-03
    historical Keep Showing-Contgcy Appl
37. 2021-10-28
    listed $60,000 Active
38. 2021-10-28
    listed $60,000 Active
39. 2015-04-17
    soldstatus $30,000

ⓘ 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: $804 · $67/mo
• Projected year-2 tax: $1,087 · $91/mo
• Expected delta: +$283/yr (+$24/mo · 35.2%)

ⓘ 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 ≥99°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: $11,954
• − Mortgage interest: −$4,985
• − Property taxes: −$804
• − Insurance: −$445
• − Repairs & maintenance: −$956
• − Management: −$956
• − Depreciation: −$2,589
• Taxable income: $1,218
• Est. tax owed @ 24.0%: −$292
• After-tax cash flow: $2,302/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: Merrill Community Schools
• NCES district ID: 2623610
• Math proficiency: 19% ▼ -10.00%
• Reading proficiency: 32% ▼ -5.00%
• Median HH income: $48,417
• Composite: 22.27/100
• National rank: #8141
• State rank: #407 of 540 in MI

Livability — Merrill

• Score: 59/100
• State rank: #612
• US rank: #20550

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Merrill, MI
• City population: 3,068
• Population (ZIP): 3,068

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 (87%)
• Race & ethnicity: White 87% Hispanic / Latino 11% Two or more races 9%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Lithuanian 9% Romanian 5% Slovak 3%
• Foreign-born: 3% · Canada
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

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: ▼ -40.33%
• Current HPI: 206.396
• 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

+196.7% since first listed

22 events — show timeline

• 2026-03-30 Listed $89,000 REALCOMP
• 2026-03-29 Listed $89,000 SW Michigan MLS
• 2026-03-29 Listed $89,000 MiRealSource-MiMLS
• 2023-10-11 Sold (MLS) $71,000 MiRealSource-MiMLS
• 2023-10-11 Sold (MLS) $71,000 REALCOMP
• 2023-08-24 Pending — REALCOMP
• 2023-08-24 Pending — MiRealSource-MiMLS
• 2023-08-10 Relisted — REALCOMP
• 2023-08-10 Relisted — MiRealSource-MiMLS
• 2023-08-07 Pending — REALCOMP
• 2023-08-07 Pending — MiRealSource-MiMLS
• 2023-08-03 Listed $75,000 MiRealSource-MiMLS
• 2023-08-03 Listed $75,000 REALCOMP
• 2021-11-19 Listing Removed — REALCOMP
• 2021-11-19 Listing Removed — MiRealSource-MiMLS
• 2021-11-11 Relisted — REALCOMP
• 2021-11-11 Relisted — MiRealSource-MiMLS
• 2021-11-03 Contingent — REALCOMP
• 2021-11-03 Contingent — MiRealSource-MiMLS
• 2021-10-28 Listed $60,000 MiRealSource-MiMLS
• 2021-10-28 Listed $60,000 REALCOMP
• 2015-04-17 Sold (Public Records) $30,000 Public Records

Property tax history

-6.4%/yr

Latest (2025): $804 · -64.7% YoY. Source: county tax records.