508 Maple St · Three Rivers, MI 49093

$180,000

3 bd · 1.5 ba · 1,333 sqft · SingleFamily public records · 1 Days on market

Built 1900 5,544 sqft lot Est $171k · 5% over

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Why this score? — see what drove the C- 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 +22.9/30.0
• DSCR +7.4/10.0
• 1% rule +5.3/10.0
• ARV discount +5.0/15.0
• Schools +3.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully maintained home in Three Rivers. This traditional styled 2 story home has some traditional style mixed with a modern touch. New carpet on the main floor and new paint. Main floor bedroom with a full, remodeled bath (2025), large dining room and large living room with windows on all 3 sides. The kitchen has an eating area perfect for a breakfast table and plenty of cabinets. Upstairs is a 1/2 bath and 2 more large bedrooms. The basement is big and perfect for the next owners finishing touches, or use it for storage. Outside has a nice deck that overlooks a fenced backyard and a one stall garage. Come check this one out before it's gone!

Key facts

• Large dining room
• Eating area
• Large living room

Tags

• MAIN FLOOR BEDROOM
• REMODELED BATH
• LARGE DINING ROOM
• LARGE LIVING ROOM
• EATING AREA
• PLENTY OF CABINETS

Property features AI

Exterior

• Parking: Detached garage (1 car)
• Utilities: Public water
• Home design: Traditional style single-family home; Built in 1900; Residential property
• Construction: Vinyl siding
• Exterior features: Paved road frontage; Sidewalk

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Has cooling
• Interior features: Fireplace; Total of 6 rooms; Crawl space and Michigan-style basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $317 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Cap rate 8.4% vs local median 5.2% in Three Rivers — 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 70/100 on livability (#306 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, crime D, amenities F.
• Three Rivers Community Schools (town): math 37% / reading 45% proficiency, ranked #200 of 540 in MI (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 178 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 125 units permitted in St. Joseph 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 $5k of value loss. Plan a longer hold.
• St. Joseph County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 28 sale attempts since 29y 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 $120k; list at $180k implies a 50% 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 $180,000

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 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?
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: 1.03% ✓
• Cap rate: 8.41%
• Cash-on-cash: 7.56%
• DSCR: 1.34
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $170,624
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
508 Maple St	0.00mi	3/1.5	1,366 (+2%)	1mo	$183,000	$134	95
519 N Main St	0.17mi	3/1.0	1,376 (+3%)	4mo	$195,000	$142	82
815 N Main St	0.32mi	3/1.5	1,328 (-0%)	5mo	$240,000	$181	80
619 Maple St	0.13mi	3/2.0	1,370 (+3%)	22mo	$163,300	$119	69
611 East St	0.26mi	3/1.0	1,373 (+3%)	15mo	$170,000	$124	68
903 Maple St	0.31mi	4/1.5 (+1)	1,400 (+5%)	13mo	$180,000	$129	62
114 S Lincoln Ave	0.68mi	3/2.0	1,383 (+4%)	11mo	$159,000	$115	50
305 N Douglas Ave	0.50mi	3/1.0	1,455 (+9%)	12mo	$162,000	$111	49
615 Pealer St	0.45mi	4/2.0 (+1)	1,450 (+9%)	16mo	$185,000	$128	44
15731 Hoffman Rd	0.64mi	3/1.0	1,222 (-8%)	15mo	$179,000	$146	42
240 4th Ave	0.74mi	3/2.0	1,200 (-10%)	7mo	$152,000	$127	41
210 Fifth Ave	0.64mi	2/1.0 (-1)	1,220 (-8%)	11mo	$130,000	$107	40

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: -4.8%
• Equity multiple: 0.82×
• Total profit: $-8,989
• Equity at exit: $26,839

10-year hold

• IRR: 4.9%
• Equity multiple: 1.36×
• Total profit: $18,070
• Equity at exit: $15,563

Cash invested: $50,400 (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 49093

• Active inventory: 178
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,855 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$129 /mo · $1,547/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $317

Break-even live

Break-even rent $1,453

Max offer price $180,000

Occupancy floor 78%

Sensitivity live

Price	-10% $419	-5% $368	+0% $317	+5% $266	+10% $215
Rent	-10% $171	-5% $244	+0% $317	+5% $391	+10% $464
Rate	-1.0pp $408	-0.5pp $363	base $317	+0.5pp $271	+1.0pp $223

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1645 Garfield Three Rivers, MI	4.0	2.5	1810	$2,395	$1.32	21d	1	0.94mi
320 Thomas St Three Rivers, MI	1.0–2.0	1.0–1.5	925	$1,245	$1.35	14d	4	1.00mi

Listing history 50 events

1. 2026-05-09
   status Pending 655-char remark

   Show marketing remark (655 chars)

   Beautifully maintained home in Three Rivers. This traditional styled 2 story home has some traditional style mixed with a modern touch. New carpet on the main floor and new paint. Main floor bedroom with a full, remodeled bath (2025), large dining room and large living room with windows on all 3 sides. The kitchen has an eating area perfect for a breakfast table and plenty of cabinets. Upstairs is a 1/2 bath and 2 more large bedrooms. The basement is big and perfect for the next owners finishing touches, or use it for storage. Outside has a nice deck that overlooks a fenced backyard and a one stall garage. Come check this one out before it's gone!

2. 2026-05-09
   status Pending 655-char remark

   Show marketing remark (655 chars)

   Beautifully maintained home in Three Rivers. This traditional styled 2 story home has some traditional style mixed with a modern touch. New carpet on the main floor and new paint. Main floor bedroom with a full, remodeled bath (2025), large dining room and large living room with windows on all 3 sides. The kitchen has an eating area perfect for a breakfast table and plenty of cabinets. Upstairs is a 1/2 bath and 2 more large bedrooms. The basement is big and perfect for the next owners finishing touches, or use it for storage. Outside has a nice deck that overlooks a fenced backyard and a one stall garage. Come check this one out before it's gone!

3. 2026-05-09
   status Pending

   Show marketing remark (655 chars)

   Beautifully maintained home in Three Rivers. This traditional styled 2 story home has some traditional style mixed with a modern touch. New carpet on the main floor and new paint. Main floor bedroom with a full, remodeled bath (2025), large dining room and large living room with windows on all 3 sides. The kitchen has an eating area perfect for a breakfast table and plenty of cabinets. Upstairs is a 1/2 bath and 2 more large bedrooms. The basement is big and perfect for the next owners finishing touches, or use it for storage. Outside has a nice deck that overlooks a fenced backyard and a one stall garage. Come check this one out before it's gone!

4. 2026-05-08
   listed $180,000 Active 655-char remark

   Show marketing remark (655 chars)

   Beautifully maintained home in Three Rivers. This traditional styled 2 story home has some traditional style mixed with a modern touch. New carpet on the main floor and new paint. Main floor bedroom with a full, remodeled bath (2025), large dining room and large living room with windows on all 3 sides. The kitchen has an eating area perfect for a breakfast table and plenty of cabinets. Upstairs is a 1/2 bath and 2 more large bedrooms. The basement is big and perfect for the next owners finishing touches, or use it for storage. Outside has a nice deck that overlooks a fenced backyard and a one stall garage. Come check this one out before it's gone!

5. 2026-05-08
   listed $180,000 Active 655-char remark

   Show marketing remark (655 chars)

   Beautifully maintained home in Three Rivers. This traditional styled 2 story home has some traditional style mixed with a modern touch. New carpet on the main floor and new paint. Main floor bedroom with a full, remodeled bath (2025), large dining room and large living room with windows on all 3 sides. The kitchen has an eating area perfect for a breakfast table and plenty of cabinets. Upstairs is a 1/2 bath and 2 more large bedrooms. The basement is big and perfect for the next owners finishing touches, or use it for storage. Outside has a nice deck that overlooks a fenced backyard and a one stall garage. Come check this one out before it's gone!

6. 2026-05-08
   listed $180,000 Active

   Show marketing remark (655 chars)

   Beautifully maintained home in Three Rivers. This traditional styled 2 story home has some traditional style mixed with a modern touch. New carpet on the main floor and new paint. Main floor bedroom with a full, remodeled bath (2025), large dining room and large living room with windows on all 3 sides. The kitchen has an eating area perfect for a breakfast table and plenty of cabinets. Upstairs is a 1/2 bath and 2 more large bedrooms. The basement is big and perfect for the next owners finishing touches, or use it for storage. Outside has a nice deck that overlooks a fenced backyard and a one stall garage. Come check this one out before it's gone!

7. 2022-05-25
   historical
8. 2020-10-28
   soldstatus $120,000
9. 2020-10-23
   soldstatus $120,000
10. 2020-10-23
    soldstatus $120,000 Sold
11. 2020-10-23
    soldstatus $120,000
12. 2020-10-02
    status Pending
13. 2020-09-29
    listed $115,000
14. 2020-09-29
    listed $115,000 Active
15. 2020-09-29
    listed $115,000
16. 2014-12-14
    historical
17. 2014-11-20
    historical
18. 2014-10-28
    historical
19. 2014-09-26
    historical
20. 2014-09-26
    historical
21. 2014-09-25
    historical
22. 2014-09-25
    historical
23. 2014-09-24
    historical
24. 2014-09-15
    historical
25. 2009-10-02
    soldstatus $59,900
26. 2009-10-02
    soldstatus $59,900
27. 2009-03-19
    listed $59,900
28. 2009-03-19
    listed $59,900
29. 2009-02-08
    historical
30. 2008-08-08
    listed $64,900
31. 2008-08-08
    listed $64,900
32. 2008-07-03
    historical
33. 2007-12-03
    listed $74,900
34. 2007-12-03
    listed $74,900
35. 2007-12-01
    historical
36. 2007-05-30
    historical
37. 2006-11-29
    listed $77,900
38. 2006-11-29
    listed $77,900
39. 2006-11-18
    historical
40. 2006-05-18
    listed $74,900
41. 2006-05-18
    listed $77,900
42. 2006-05-18
    listed $74,900
43. 2006-05-18
    listed $77,900
44. 2006-04-24
    historical
45. 2005-10-24
    listed $83,000
46. 2005-10-24
    listed $83,000
47. 2005-10-01
    historical
48. 2004-10-01
    listed $83,000
49. 2004-10-01
    listed $83,000
50. 2004-09-16
    historical

ⓘ 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: $1,547 · $129/mo
• Projected year-2 tax: $2,160 · $180/mo
• Expected delta: +$612/yr (+$51/mo · 39.6%)

ⓘ 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 ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,256
• − Mortgage interest: −$10,083
• − Property taxes: −$1,547
• − Insurance: −$900
• − Repairs & maintenance: −$1,780
• − Management: −$1,780
• − Depreciation: −$5,236
• Taxable income: $929
• Est. tax owed @ 24.0%: −$223
• After-tax cash flow: $3,585/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: Three Rivers Community Schools
• NCES district ID: 2633840
• Math proficiency: 37% ▲ 1.00%
• Reading proficiency: 45% ▼ -3.00%
• Median HH income: $46,576
• Composite: 34.97/100
• National rank: #5058
• State rank: #200 of 540 in MI

Livability — Three Rivers

• Score: 70/100
• State rank: #306
• US rank: #7604

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Three Rivers, MI
• Population (ZIP): 18,439

Population outlook (St. Joseph County) Hauer SSP2

• Today (2025): 58,726 people
• By 2030: 57,030 · -2.9%
• By 2040: 53,266 · -9.3%
• By 2050: 49,343 · -16.0%
• By 2075: 40,441 · -31.1%
• By 2100: 31,981 · -45.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 8% Hispanic / Latino 5% Black 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 11% Iranian 5% Romanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1%

Political lean MEDSL · St. Joseph

• 2024 margin: Solid R (+34.0) · D 32.2% · R 66.2% · Other 1.5%
• 2008→2024 swing: -31.8pp toward R · 2008: -2.2pp · 2024: -34.0pp
• All cycles: 2024: R+34.0 2020: R+31.7 2016: R+31.0 2012: R+12.3 2008: R+2.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -159.07%
• Current HPI: 226.5079
• 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

+215.8% since first listed

58 events — show timeline

• 2026-05-09 Pending — REALCOMP
• 2026-05-09 Pending — MiRealSource-MiMLS
• 2026-05-09 Pending — SW Michigan MLS
• 2026-05-08 Listed $180,000 SW Michigan MLS
• 2026-05-08 Listed $180,000 MiRealSource-MiMLS
• 2026-05-08 Listed $180,000 REALCOMP
• 2022-05-25 Listing Removed — REALCOMP
• 2020-10-28 Sold (Public Records) $120,000 Public Records
• 2020-10-23 Sold (MLS) $120,000 MiRealSource-MiMLS
• 2020-10-23 Sold (MLS) $120,000 SW Michigan MLS
• 2020-10-23 Sold (MLS) $120,000 REALCOMP
• 2020-10-02 Pending — SW Michigan MLS
• 2020-09-29 Listed $115,000 MiRealSource-MiMLS
• 2020-09-29 Listed $115,000 SW Michigan MLS
• 2020-09-29 Listed $115,000 REALCOMP
• 2014-12-14 Listing Removed — SW Michigan MLS
• 2014-11-20 Listing Removed — SW Michigan MLS
• 2014-10-28 Listing Removed — SW Michigan MLS
• 2014-09-26 Listing Removed — SW Michigan MLS
• 2014-09-26 Listing Removed — SW Michigan MLS
• 2014-09-25 Listing Removed — SW Michigan MLS
• 2014-09-25 Listing Removed — SW Michigan MLS
• 2014-09-24 Listing Removed — SW Michigan MLS
• 2014-09-15 Listing Removed — SW Michigan MLS
• 2009-10-02 Sold (MLS) $59,900 REALCOMP
• 2009-10-02 Sold (MLS) $59,900 SW Michigan MLS
• 2009-03-19 Listed $59,900 REALCOMP
• 2009-03-19 Listed $59,900 SW Michigan MLS
• 2009-02-08 Listing Removed — REALCOMP
• 2008-08-08 Listed $64,900 REALCOMP
• 2008-08-08 Listed $64,900 SW Michigan MLS
• 2008-07-03 Listing Removed — REALCOMP
• 2007-12-03 Listed $74,900 REALCOMP
• 2007-12-03 Listed $74,900 SW Michigan MLS
• 2007-12-01 Listing Removed — REALCOMP
• 2007-05-30 Listing Removed — REALCOMP
• 2006-11-29 Listed $77,900 REALCOMP
• 2006-11-29 Listed $77,900 SW Michigan MLS
• 2006-11-18 Listing Removed — REALCOMP
• 2006-05-18 Listed $77,900 REALCOMP
• 2006-05-18 Listed $74,900 REALCOMP
• 2006-05-18 Listed $77,900 SW Michigan MLS
• 2006-05-18 Listed $74,900 SW Michigan MLS
• 2006-04-24 Listing Removed — REALCOMP
• 2005-10-24 Listed $83,000 REALCOMP
• 2005-10-24 Listed $83,000 SW Michigan MLS
• 2005-10-01 Listing Removed — REALCOMP
• 2004-10-01 Listed $83,000 REALCOMP
• 2004-10-01 Listed $83,000 SW Michigan MLS
• 2004-09-16 Listing Removed — REALCOMP
• 2004-03-17 Listed $92,000 REALCOMP
• 2004-03-17 Listed $92,000 SW Michigan MLS
• 1998-08-28 Listing Removed — SW Michigan MLS
• 1998-07-20 Listed $57,000 SW Michigan MLS
• 1998-07-20 Listed $57,000 REALCOMP
• 1998-07-15 Listing Removed — REALCOMP
• 1997-07-15 Listed $57,000 REALCOMP
• 1997-07-15 Listed $57,000 SW Michigan MLS

Property tax history

+5.3%/yr

Latest (2025): $1,547 · -32.2% YoY. Source: county tax records.