730 N River · Alma, MI 48801

$129,000

3 bd · 1.0 ba · 1,094 sqft · SingleFamily · 314 Days on market

Built 1950 4,356 sqft lot $118/sqft · 7% below area Est $139k · 7% under ↓ 13% since listing

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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).

• Cash flow +11.4/30.0
• ARV discount +10.7/15.0
• Livability +3.5/5.0
• 1% rule +3.3/10.0
• DSCR +3.3/10.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this well-maintained 3-bedroom, 1-bath property that’s truly ready for you to move right in. Recent updates—including a new metal roof, new water heater, and reliable mechanicals—provide peace of mind and low-maintenance living for years to come. Inside, you’ll find bright, functional living spaces and a practical layout that suits a variety of lifestyles. The home is conveniently located near schools, shopping, and major commuter routes, offering everyday convenience at your doorstep. Whether you’re a first-time homebuyer, downsizing, or simply looking for an affordable home with valuable updates already completed, this property is a fantastic fit.

Key facts

• New metal roof
• Practical floor plan
• New water heater

Tags

• NEW METAL ROOF
• NEW WATER HEATER
• SOLID MECHANICALS
• PRACTICAL FLOOR PLAN
• LOCATION CLOSE TO SCHOOLS
• LOCATION CLOSE TO SHOPPING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $-44 ($-533/yr) — negative.
• To cash-flow at today's rent, offer at most $123k (5.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $107k (16.9% below list).
• Recommended offer: $107k (16.9% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 4.2% in Alma — 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 69/100 on livability (#345 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, amenities F, commute F.
• Alma Public Schools (town): math 28% / reading 44% proficiency, ranked #288 of 540 in MI (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 89 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 47 units permitted in Gratiot County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $892 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Gratiot County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 314 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $18k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $107,220 (16.9% 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. It's been on market 314 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Crime grade is D 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.83% ✗
• Cap rate: 5.88%
• Cash-on-cash: -1.48%
• DSCR: 0.93
• GRM: 10.0

CMA / ARV

• ARV (median comp): $138,730
• List price: $129,000
• Delta: -7.01%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
417 Washington Ave	0.16mi	2/1.5 (-1)	1,134 (+4%)	1mo	$151,250	$133	79
804 Hannah Ave	0.50mi	3/1.0	1,060 (-3%)	4mo	$124,000	$117	68
618 N River Ave	0.12mi	2/1.0 (-1)	1,184 (+8%)	10mo	$130,000	$110	68
800 Ely St	0.66mi	3/1.5	1,070 (-2%)	0mo	$133,800	$125	63
616 Bridge Ave	0.45mi	3/1.0	1,248 (+14%)	3mo	$105,900	$85	53
320 Euclid Ave	0.41mi	4/1.0 (+1)	1,224 (+12%)	4mo	$68,775	$56	53
920 Ely St	0.73mi	3/1.0	1,178 (+8%)	3mo	$145,500	$124	51
704 Republic Ave	0.71mi	3/1.5	1,044 (-5%)	8mo	$155,000	$148	51
127 Grafton Ave	0.70mi	3/1.5	1,192 (+9%)	6mo	$144,900	$122	46
520 Orchard	0.67mi	4/2.0 (+1)	1,168 (+7%)	8mo	$159,900	$137	42
112 Windsor St	0.72mi	3/1.0	950 (-13%)	5mo	$60,000	$63	40
1030 Eastward St	0.73mi	3/2.0	1,240 (+13%)	3mo	$135,000	$109	38

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: -18.7%
• Equity multiple: 0.34×
• Total profit: $-23,719
• Equity at exit: $19,234

10-year hold

• IRR: -11.1%
• Equity multiple: 0.33×
• Total profit: $-24,234
• Equity at exit: $11,154

Cash invested: $36,120 (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 48801

• Home prices YoY: -32.0%
• Active inventory: 89
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,072 medium
• Mortgage (P&I): −$676
• Tax est. 1.5%: −$161 /mo · $1,935/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $-44

Break-even live

Break-even rent $1,128

Max offer price $122,568

Occupancy floor 99%

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
240 Windsor St Alma, MI	1.0–2.0	1.0	675	$875	$1.30	43d	1	0.83mi
1589 Mary Ct Alma, MI	3.0	1.5	1012	$1,275	$1.26	43d	1	0.85mi
307 W Elizabeth St Unit 307 Alma, MI	2.0	1.0	750	$950	$1.27	43d	1	1.13mi

Listing history 27 events

1. 2026-06-18
   days on market $129,000 Active 314 DOM
2. 2026-06-17
   days on market $129,000 Active 313 DOM
3. 2026-06-16
   days on market $129,000 Active 312 DOM
4. 2026-06-15
   days on market $129,000 Active 311 DOM
5. 2026-06-13
   days on market $129,000 Active 309 DOM
6. 2026-06-12
   days on market $129,000 Active 308 DOM
7. 2026-06-09
   days on market $129,000 Active 305 DOM
8. 2026-06-08
   days on market $129,000 Active 304 DOM
9. 2026-06-07
   days on market $129,000 Active 303 DOM
10. 2026-06-07
    days on market $129,000 Active 302 DOM
11. 2026-06-04
    days on market $129,000 Active 299 DOM
12. 2026-06-02
    days on market $129,000 Active 298 DOM
13. 2026-06-01
    days on market $129,000 Active 297 DOM
14. 2026-05-31
    days on market $129,000 Active 296 DOM
15. 2026-05-31
    days on market $129,000 Active 295 DOM
16. 2026-05-16
    price $129,000 768-char remark

    Show marketing remark (768 chars)

    Welcome home to this well-maintained 3-bedroom, 1-bath property that’s truly ready for you to move right in. Recent updates—including a new metal roof, new water heater, and reliable mechanicals—provide peace of mind and low-maintenance living for years to come. Inside, you’ll find bright, functional living spaces and a practical layout that suits a variety of lifestyles. The home is conveniently located near schools, shopping, and major commuter routes, offering everyday convenience at your doorstep. Whether you’re a first-time homebuyer, downsizing, or simply looking for an affordable home with valuable updates already completed, this property is a fantastic fit.

17. 2026-05-15
    price $129,000 672-char remark

    Show marketing remark (672 chars)

    Welcome home to this well-maintained 3-bedroom, 1-bath property thats truly ready for you to move right in. Recent updates-including a new metal roof, new water heater, and reliable mechanicals-provide peace of mind and low-maintenance living for years to come. Inside, youll find bright, functional living spaces and a practical layout that suits a variety of lifestyles. The home is conveniently located near schools, shopping, and major commuter routes, offering everyday convenience at your doorstep. Whether youre a first-time homebuyer, downsizing, or simply looking for an affordable home with valuable updates already completed, this property is a fantastic fit.

18. 2026-04-21
    status Active 672-char remark

    Show marketing remark (768 chars)

    Welcome home to this well-maintained 3-bedroom, 1-bath property that’s truly ready for you to move right in. Recent updates—including a new metal roof, new water heater, and reliable mechanicals—provide peace of mind and low-maintenance living for years to come. Inside, you’ll find bright, functional living spaces and a practical layout that suits a variety of lifestyles. The home is conveniently located near schools, shopping, and major commuter routes, offering everyday convenience at your doorstep. Whether you’re a first-time homebuyer, downsizing, or simply looking for an affordable home with valuable updates already completed, this property is a fantastic fit.

19. 2026-04-21
    status Active 768-char remark

    Show marketing remark (768 chars)

    Welcome home to this well-maintained 3-bedroom, 1-bath property that’s truly ready for you to move right in. Recent updates—including a new metal roof, new water heater, and reliable mechanicals—provide peace of mind and low-maintenance living for years to come. Inside, you’ll find bright, functional living spaces and a practical layout that suits a variety of lifestyles. The home is conveniently located near schools, shopping, and major commuter routes, offering everyday convenience at your doorstep. Whether you’re a first-time homebuyer, downsizing, or simply looking for an affordable home with valuable updates already completed, this property is a fantastic fit.

20. 2026-04-10
    historical Active Under Contract 672-char remark

    Show marketing remark (768 chars)

    Welcome home to this well-maintained 3-bedroom, 1-bath property that’s truly ready for you to move right in. Recent updates—including a new metal roof, new water heater, and reliable mechanicals—provide peace of mind and low-maintenance living for years to come. Inside, you’ll find bright, functional living spaces and a practical layout that suits a variety of lifestyles. The home is conveniently located near schools, shopping, and major commuter routes, offering everyday convenience at your doorstep. Whether you’re a first-time homebuyer, downsizing, or simply looking for an affordable home with valuable updates already completed, this property is a fantastic fit.

21. 2026-04-10
    historical Accepting Backup Offers 768-char remark

    Show marketing remark (768 chars)

    Welcome home to this well-maintained 3-bedroom, 1-bath property that’s truly ready for you to move right in. Recent updates—including a new metal roof, new water heater, and reliable mechanicals—provide peace of mind and low-maintenance living for years to come. Inside, you’ll find bright, functional living spaces and a practical layout that suits a variety of lifestyles. The home is conveniently located near schools, shopping, and major commuter routes, offering everyday convenience at your doorstep. Whether you’re a first-time homebuyer, downsizing, or simply looking for an affordable home with valuable updates already completed, this property is a fantastic fit.

22. 2026-01-08
    price $135,000 768-char remark

    Show marketing remark (768 chars)

    Welcome home to this well-maintained 3-bedroom, 1-bath property that’s truly ready for you to move right in. Recent updates—including a new metal roof, new water heater, and reliable mechanicals—provide peace of mind and low-maintenance living for years to come. Inside, you’ll find bright, functional living spaces and a practical layout that suits a variety of lifestyles. The home is conveniently located near schools, shopping, and major commuter routes, offering everyday convenience at your doorstep. Whether you’re a first-time homebuyer, downsizing, or simply looking for an affordable home with valuable updates already completed, this property is a fantastic fit.

23. 2026-01-07
    price $135,000 672-char remark

    Show marketing remark (672 chars)

    Welcome home to this well-maintained 3-bedroom, 1-bath property thats truly ready for you to move right in. Recent updates-including a new metal roof, new water heater, and reliable mechanicals-provide peace of mind and low-maintenance living for years to come. Inside, youll find bright, functional living spaces and a practical layout that suits a variety of lifestyles. The home is conveniently located near schools, shopping, and major commuter routes, offering everyday convenience at your doorstep. Whether youre a first-time homebuyer, downsizing, or simply looking for an affordable home with valuable updates already completed, this property is a fantastic fit.

24. 2025-09-23
    price $139,500 768-char remark

    Show marketing remark (672 chars)

    Welcome home to this well-maintained 3-bedroom, 1-bath property thats truly ready for you to move right in. Recent updates-including a new metal roof, new water heater, and reliable mechanicals-provide peace of mind and low-maintenance living for years to come. Inside, youll find bright, functional living spaces and a practical layout that suits a variety of lifestyles. The home is conveniently located near schools, shopping, and major commuter routes, offering everyday convenience at your doorstep. Whether youre a first-time homebuyer, downsizing, or simply looking for an affordable home with valuable updates already completed, this property is a fantastic fit.

25. 2025-09-23
    price $139,500 672-char remark

    Show marketing remark (672 chars)

    Welcome home to this well-maintained 3-bedroom, 1-bath property thats truly ready for you to move right in. Recent updates-including a new metal roof, new water heater, and reliable mechanicals-provide peace of mind and low-maintenance living for years to come. Inside, youll find bright, functional living spaces and a practical layout that suits a variety of lifestyles. The home is conveniently located near schools, shopping, and major commuter routes, offering everyday convenience at your doorstep. Whether youre a first-time homebuyer, downsizing, or simply looking for an affordable home with valuable updates already completed, this property is a fantastic fit.

26. 2025-08-08
    listed $147,500 Active 672-char remark

    Show marketing remark (768 chars)

    Welcome home to this well-maintained 3-bedroom, 1-bath property that’s truly ready for you to move right in. Recent updates—including a new metal roof, new water heater, and reliable mechanicals—provide peace of mind and low-maintenance living for years to come. Inside, you’ll find bright, functional living spaces and a practical layout that suits a variety of lifestyles. The home is conveniently located near schools, shopping, and major commuter routes, offering everyday convenience at your doorstep. Whether you’re a first-time homebuyer, downsizing, or simply looking for an affordable home with valuable updates already completed, this property is a fantastic fit.

27. 2025-08-08
    listed $147,500 Active 768-char remark

    Show marketing remark (768 chars)

    Welcome home to this well-maintained 3-bedroom, 1-bath property that’s truly ready for you to move right in. Recent updates—including a new metal roof, new water heater, and reliable mechanicals—provide peace of mind and low-maintenance living for years to come. Inside, you’ll find bright, functional living spaces and a practical layout that suits a variety of lifestyles. The home is conveniently located near schools, shopping, and major commuter routes, offering everyday convenience at your doorstep. Whether you’re a first-time homebuyer, downsizing, or simply looking for an affordable home with valuable updates already completed, this property is a fantastic fit.

ⓘ 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 (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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,866
• − Mortgage interest: −$7,226
• − Property taxes: −$1,935
• − Insurance: −$645
• − Repairs & maintenance: −$1,029
• − Management: −$1,029
• − Depreciation: −$3,753
• Taxable loss: −$2,751
• Est. tax savings @ 24.0%: +$660
• After-tax cash flow: $127/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: Alma Public Schools
• NCES district ID: 2602640
• Math proficiency: 28% ▼ -9.00%
• Reading proficiency: 44% ▼ -3.00%
• Median HH income: $36,651
• Composite: 29.84/100
• National rank: #6415
• State rank: #288 of 540 in MI

Livability — Alma

• Score: 69/100
• State rank: #345
• US rank: #8809

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alma, MI
• City population: 13,433
• Population (ZIP): 13,433

Population outlook (Gratiot County) Hauer SSP2

• Today (2025): 39,991 people
• By 2030: 38,944 · -2.6%
• By 2040: 36,694 · -8.2%
• By 2050: 34,314 · -14.2%
• By 2075: 27,693 · -30.8%
• By 2100: 20,809 · -48.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 10% Two or more races 4% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 5% Slovak 3% Iranian 2%
• Foreign-born: 2% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 4% French/Haitian/Cajun 1%

Political lean MEDSL · Gratiot

• 2024 margin: Solid R (+31.3) · D 33.7% · R 65.0% · Other 1.4%
• 2008→2024 swing: -35.7pp toward R · 2008: 4.4pp · 2024: -31.3pp
• All cycles: 2024: R+31.3 2020: R+28.3 2016: R+25.6 2012: R+3.9 2008: D+4.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -99.16%
• Current HPI: 210.3208
• 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

-12.5% since first listed

12 events — show timeline

• 2026-05-16 Price Changed $129,000 MiRealSource-MiMLS
• 2026-05-15 Price Changed $129,000 REALCOMP
• 2026-04-21 Relisted — REALCOMP
• 2026-04-21 Relisted — MiRealSource-MiMLS
• 2026-04-10 Contingent — REALCOMP
• 2026-04-10 Contingent — MiRealSource-MiMLS
• 2026-01-08 Price Changed $135,000 MiRealSource-MiMLS
• 2026-01-07 Price Changed $135,000 REALCOMP
• 2025-09-23 Price Changed $139,500 MiRealSource-MiMLS
• 2025-09-23 Price Changed $139,500 REALCOMP
• 2025-08-08 Listed $147,500 REALCOMP
• 2025-08-08 Listed $147,500 MiRealSource-MiMLS