695 W Cass Avenue Rd · Essexville, MI 48708

$99,000

3 bd · 2.0 ba · 1,841 sqft · SingleFamily · 10 Days on market

Built 1900 1.60 ac lot

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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 +28.3/30.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Investment Opportunity on 1.6 Private Acres in Portsmouth Township! This beautiful 1.6-acre property offers plenty of potential for investors, renovators, or anyone looking for a spacious homesite. The existing farmhouse is being sold AS IS and is in need of significant repairs. The home currently has no plumbing or heat, as the pipes froze and the water has been turned off. A forced-air furnace is located in the basement but will require hookup and further evaluation. The property features natural gas and city water available at the road, providing convenient utility access for future improvements. Mature trees and lush foliage create a private, scenic setting that enhances the property's appeal. With ample space on the lot, there is also the possibility of placing a modular home on the property for those who prefer new construction rather than renovating the existing farmhouse. Whether you're looking for a renovation project, a building site, or an investment property with great potential, this Portsmouth Township acreage is worth a look.

Key facts

• Private acres
• Existing farmhouse
• City water

Tags

• PRIVATE ACRES
• EXISTING FARMHOUSE
• NATURAL GAS
• CITY WATER
• MATURE TREES
• LUSH FOLIAGE

Property features AI

Exterior

• Parking: No garage
• Utilities: Private well water; Septic tank sewer
• Home design: Single-family residence; Two story; Ground-level entry with steps
• Construction: Wood siding construction; Above-grade finished area reported
• Exterior features: Front porch; Asphalt roof; Paved road access; Lot approximately 1.6 acres (dimensions 284 x 248 x 272 x 248)

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Natural gas heating; No cooling
• Interior features: Appliances not included; Basement with sump pump; Total of 8 rooms
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $316 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Cap rate 10.1% vs local median 4.3% in Essexville — 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 74/100 on livability (#165 in MI, #4,369 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute 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: 150 active listings in the ZIP; 39 units permitted in Bay County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% 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 $684 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 ~9 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 16y 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 $57k; list at $99k implies a 74% 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 $99,000

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. 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.
4. 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.
5. 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: 1.35% ✓
• Cap rate: 10.13%
• Cash-on-cash: 13.69%
• DSCR: 1.61
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.9%
• Equity multiple: 1.15×
• Total profit: $4,148
• Equity at exit: $14,761

10-year hold

• IRR: 13.4%
• Equity multiple: 2.07×
• Total profit: $29,758
• Equity at exit: $8,560

Cash invested: $27,720 (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: 150
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,335 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$178 /mo · $2,137/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $316

Break-even live

Break-even rent $935

Max offer price $99,000

Occupancy floor 71%

Sensitivity live

Price	-10% $372	-5% $344	+0% $316	+5% $288	+10% $260
Rent	-10% $211	-5% $263	+0% $316	+5% $369	+10% $422
Rate	-1.0pp $366	-0.5pp $341	base $316	+0.5pp $291	+1.0pp $264

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-21
   days on market $99,000 Active 10 DOM
2. 2026-06-19
   days on market $99,000 Active 8 DOM
3. 2026-06-18
   days on market $99,000 Active 7 DOM
4. 2026-06-17
   days on market $99,000 Active 6 DOM
5. 2026-06-16
   days on market $99,000 Active 5 DOM
6. 2026-06-15
   days on market $99,000 Active 4 DOM
7. 2026-06-14
   days on market $99,000 Active 2 DOM
8. 2026-06-12
   remarks 699-char remark
9. 2026-06-12
   listed $99,000 Active 1 DOM

ⓘ 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: $2,137 · $178/mo
• Projected year-2 tax: $2,137 · $178/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $16,021
• − Mortgage interest: −$5,546
• − Property taxes: −$2,137
• − Insurance: −$495
• − Repairs & maintenance: −$1,282
• − Management: −$1,282
• − Depreciation: −$2,880
• Taxable income: $2,399
• Est. tax owed @ 24.0%: −$576
• After-tax cash flow: $3,218/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 — Essexville

• Score: 74/100
• State rank: #165
• US rank: #4369

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Bay County · 36,975 people
• 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

+68.1% since first listed

5 events — show timeline

• 2026-06-11 Listed $99,000 REALCOMP
• 2026-06-11 Listed $99,000 WWMLS
• 2026-06-11 Listed $99,000 MiRealSource-MiMLS
• 2010-03-11 Sold (MLS) $57,000 MiRealSource-MiMLS
• 2010-01-11 Listed $58,900 MiRealSource-MiMLS

Property tax history

+2.6%/yr

Latest (2025): $2,137 · +3.8% YoY. Source: county tax records.