5705 N State Rd · Arcada, MI 48801

$375,000

None bd · None ba · 741 sqft · MultiFamily · 486 Days on market

Built 1970 Fair condition 3.45 ac lot ↓ 44% since listing

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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 +24.8/30.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

This 3.45-acre mixed-use property offers a unique investment opportunity with both steady residential and commercial rental income. It features four fully-rented apartment units, with a fifth unit nearing completion, as well as a newer 400-foot, 5-inch well. The property also includes a commercial building with store frontage, office space, and a special-purpose 80x40 barn, built in 2011. Currently, a dog grooming business rents the commercial space on a month-to-month basis. Additionally, there is a 40x80 pole building, offering future potential for business expansion or storage use. Conveniently located just off US-127, the property provides a prime location for business opportunities while maintaining consistent rental income from the residential units and commercial tenant. With a mix of residential and commercial space, along with room for further development, this property presents an excellent opportunity for investors looking for versatility and steady returns.

Key facts

• Office space
• Newer well
• Commercial building

Tags

• FULLY-RENTED APARTMENT UNITS
• NEWER WELL
• COMMERCIAL BUILDING
• STORE FRONTAGE
• OFFICE SPACE
• SPECIAL-PURPOSE BARN

What this means for you Summary

Snapshot

• This is a multifamily listed at $375k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $797 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $375k).
• Recommended offer: $330k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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; 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 $3k of loan paydown is wiped out by about $11k 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 486 days — a 12% lower offer ($330k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $200k (35%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $330,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 486 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1970 — 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. 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.14% ✓
• Cap rate: 8.84%
• Cash-on-cash: 9.11%
• DSCR: 1.41
• GRM: 7.3

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: -2.5%
• Equity multiple: 0.91×
• Total profit: $-9,955
• Equity at exit: $55,914

10-year hold

• IRR: 7.2%
• Equity multiple: 1.54×
• Total profit: $56,939
• Equity at exit: $32,423

Cash invested: $105,000 (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: 36.4×

Monthly cashflow live

• Estimated rent: $4,289 medium
• Mortgage (P&I): −$1,967
• Tax est. 1.5%: −$469 /mo · $5,625/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$901
• Net cashflow: $797

Break-even live

Break-even rent $3,280

Max offer price $375,000

Occupancy floor 76%

5-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 5× units	2	1	$4,290
Total (5 units)			$4,289

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-18
   days on market $375,000 Active 486 DOM
2. 2026-06-17
   days on market $375,000 Active 485 DOM
3. 2026-06-16
   days on market $375,000 Active 484 DOM
4. 2026-06-15
   days on market $375,000 Active 483 DOM
5. 2026-06-13
   days on market $375,000 Active 481 DOM
6. 2026-06-12
   days on market $375,000 Active 480 DOM
7. 2026-06-09
   days on market $375,000 Active 477 DOM
8. 2026-06-08
   days on market $375,000 Active 476 DOM
9. 2026-06-07
   days on market $375,000 Active 475 DOM
10. 2026-06-07
    days on market $375,000 Active 474 DOM
11. 2026-06-04
    days on market $375,000 Active 471 DOM
12. 2026-06-02
    days on market $375,000 Active 470 DOM
13. 2026-06-01
    days on market $375,000 Active 469 DOM
14. 2026-05-31
    days on market $375,000 Active 468 DOM
15. 2026-05-31
    days on market $375,000 Active 467 DOM
16. 2026-05-21
    price $375,000 983-char remark

    Show marketing remark (983 chars)

    This 3.45-acre mixed-use property offers a unique investment opportunity with both steady residential and commercial rental income. It features four fully-rented apartment units, with a fifth unit nearing completion, as well as a newer 400-foot, 5-inch well. The property also includes a commercial building with store frontage, office space, and a special-purpose 80x40 barn, built in 2011. Currently, a dog grooming business rents the commercial space on a month-to-month basis. Additionally, there is a 40x80 pole building, offering future potential for business expansion or storage use. Conveniently located just off US-127, the property provides a prime location for business opportunities while maintaining consistent rental income from the residential units and commercial tenant. With a mix of residential and commercial space, along with room for further development, this property presents an excellent opportunity for investors looking for versatility and steady returns.

17. 2026-05-20
    price $375,000 983-char remark

    Show marketing remark (983 chars)

    This 3.45-acre mixed-use property offers a unique investment opportunity with both steady residential and commercial rental income. It features four fully-rented apartment units, with a fifth unit nearing completion, as well as a newer 400-foot, 5-inch well. The property also includes a commercial building with store frontage, office space, and a special-purpose 80x40 barn, built in 2011. Currently, a dog grooming business rents the commercial space on a month-to-month basis. Additionally, there is a 40x80 pole building, offering future potential for business expansion or storage use. Conveniently located just off US-127, the property provides a prime location for business opportunities while maintaining consistent rental income from the residential units and commercial tenant. With a mix of residential and commercial space, along with room for further development, this property presents an excellent opportunity for investors looking for versatility and steady returns.

18. 2026-04-03
    price $440,000 983-char remark

    Show marketing remark (983 chars)

    This 3.45-acre mixed-use property offers a unique investment opportunity with both steady residential and commercial rental income. It features four fully-rented apartment units, with a fifth unit nearing completion, as well as a newer 400-foot, 5-inch well. The property also includes a commercial building with store frontage, office space, and a special-purpose 80x40 barn, built in 2011. Currently, a dog grooming business rents the commercial space on a month-to-month basis. Additionally, there is a 40x80 pole building, offering future potential for business expansion or storage use. Conveniently located just off US-127, the property provides a prime location for business opportunities while maintaining consistent rental income from the residential units and commercial tenant. With a mix of residential and commercial space, along with room for further development, this property presents an excellent opportunity for investors looking for versatility and steady returns.

19. 2026-04-02
    price $440,000 983-char remark

    Show marketing remark (983 chars)

    This 3.45-acre mixed-use property offers a unique investment opportunity with both steady residential and commercial rental income. It features four fully-rented apartment units, with a fifth unit nearing completion, as well as a newer 400-foot, 5-inch well. The property also includes a commercial building with store frontage, office space, and a special-purpose 80x40 barn, built in 2011. Currently, a dog grooming business rents the commercial space on a month-to-month basis. Additionally, there is a 40x80 pole building, offering future potential for business expansion or storage use. Conveniently located just off US-127, the property provides a prime location for business opportunities while maintaining consistent rental income from the residential units and commercial tenant. With a mix of residential and commercial space, along with room for further development, this property presents an excellent opportunity for investors looking for versatility and steady returns.

20. 2025-03-27
    price $499,000

    Show marketing remark (983 chars)

    This 3.45-acre mixed-use property offers a unique investment opportunity with both steady residential and commercial rental income. It features four fully-rented apartment units, with a fifth unit nearing completion, as well as a newer 400-foot, 5-inch well. The property also includes a commercial building with store frontage, office space, and a special-purpose 80x40 barn, built in 2011. Currently, a dog grooming business rents the commercial space on a month-to-month basis. Additionally, there is a 40x80 pole building, offering future potential for business expansion or storage use. Conveniently located just off US-127, the property provides a prime location for business opportunities while maintaining consistent rental income from the residential units and commercial tenant. With a mix of residential and commercial space, along with room for further development, this property presents an excellent opportunity for investors looking for versatility and steady returns.

21. 2025-03-27
    price $499,000 983-char remark

    Show marketing remark (983 chars)

    This 3.45-acre mixed-use property offers a unique investment opportunity with both steady residential and commercial rental income. It features four fully-rented apartment units, with a fifth unit nearing completion, as well as a newer 400-foot, 5-inch well. The property also includes a commercial building with store frontage, office space, and a special-purpose 80x40 barn, built in 2011. Currently, a dog grooming business rents the commercial space on a month-to-month basis. Additionally, there is a 40x80 pole building, offering future potential for business expansion or storage use. Conveniently located just off US-127, the property provides a prime location for business opportunities while maintaining consistent rental income from the residential units and commercial tenant. With a mix of residential and commercial space, along with room for further development, this property presents an excellent opportunity for investors looking for versatility and steady returns.

22. 2025-03-26
    price $499,000 983-char remark

    Show marketing remark (983 chars)

    This 3.45-acre mixed-use property offers a unique investment opportunity with both steady residential and commercial rental income. It features four fully-rented apartment units, with a fifth unit nearing completion, as well as a newer 400-foot, 5-inch well. The property also includes a commercial building with store frontage, office space, and a special-purpose 80x40 barn, built in 2011. Currently, a dog grooming business rents the commercial space on a month-to-month basis. Additionally, there is a 40x80 pole building, offering future potential for business expansion or storage use. Conveniently located just off US-127, the property provides a prime location for business opportunities while maintaining consistent rental income from the residential units and commercial tenant. With a mix of residential and commercial space, along with room for further development, this property presents an excellent opportunity for investors looking for versatility and steady returns.

23. 2025-01-23
    price $575,000

    Show marketing remark (983 chars)

    This 3.45-acre mixed-use property offers a unique investment opportunity with both steady residential and commercial rental income. It features four fully-rented apartment units, with a fifth unit nearing completion, as well as a newer 400-foot, 5-inch well. The property also includes a commercial building with store frontage, office space, and a special-purpose 80x40 barn, built in 2011. Currently, a dog grooming business rents the commercial space on a month-to-month basis. Additionally, there is a 40x80 pole building, offering future potential for business expansion or storage use. Conveniently located just off US-127, the property provides a prime location for business opportunities while maintaining consistent rental income from the residential units and commercial tenant. With a mix of residential and commercial space, along with room for further development, this property presents an excellent opportunity for investors looking for versatility and steady returns.

24. 2025-01-23
    price $575,000 983-char remark

    Show marketing remark (983 chars)

    This 3.45-acre mixed-use property offers a unique investment opportunity with both steady residential and commercial rental income. It features four fully-rented apartment units, with a fifth unit nearing completion, as well as a newer 400-foot, 5-inch well. The property also includes a commercial building with store frontage, office space, and a special-purpose 80x40 barn, built in 2011. Currently, a dog grooming business rents the commercial space on a month-to-month basis. Additionally, there is a 40x80 pole building, offering future potential for business expansion or storage use. Conveniently located just off US-127, the property provides a prime location for business opportunities while maintaining consistent rental income from the residential units and commercial tenant. With a mix of residential and commercial space, along with room for further development, this property presents an excellent opportunity for investors looking for versatility and steady returns.

25. 2024-07-09
    price $645,000

    Show marketing remark (983 chars)

    This 3.45-acre mixed-use property offers a unique investment opportunity with both steady residential and commercial rental income. It features four fully-rented apartment units, with a fifth unit nearing completion, as well as a newer 400-foot, 5-inch well. The property also includes a commercial building with store frontage, office space, and a special-purpose 80x40 barn, built in 2011. Currently, a dog grooming business rents the commercial space on a month-to-month basis. Additionally, there is a 40x80 pole building, offering future potential for business expansion or storage use. Conveniently located just off US-127, the property provides a prime location for business opportunities while maintaining consistent rental income from the residential units and commercial tenant. With a mix of residential and commercial space, along with room for further development, this property presents an excellent opportunity for investors looking for versatility and steady returns.

26. 2024-07-09
    price $645,000 983-char remark

    Show marketing remark (983 chars)

    This 3.45-acre mixed-use property offers a unique investment opportunity with both steady residential and commercial rental income. It features four fully-rented apartment units, with a fifth unit nearing completion, as well as a newer 400-foot, 5-inch well. The property also includes a commercial building with store frontage, office space, and a special-purpose 80x40 barn, built in 2011. Currently, a dog grooming business rents the commercial space on a month-to-month basis. Additionally, there is a 40x80 pole building, offering future potential for business expansion or storage use. Conveniently located just off US-127, the property provides a prime location for business opportunities while maintaining consistent rental income from the residential units and commercial tenant. With a mix of residential and commercial space, along with room for further development, this property presents an excellent opportunity for investors looking for versatility and steady returns.

27. 2024-05-13
    listed $675,000 Active 983-char remark

    Show marketing remark (983 chars)

    This 3.45-acre mixed-use property offers a unique investment opportunity with both steady residential and commercial rental income. It features four fully-rented apartment units, with a fifth unit nearing completion, as well as a newer 400-foot, 5-inch well. The property also includes a commercial building with store frontage, office space, and a special-purpose 80x40 barn, built in 2011. Currently, a dog grooming business rents the commercial space on a month-to-month basis. Additionally, there is a 40x80 pole building, offering future potential for business expansion or storage use. Conveniently located just off US-127, the property provides a prime location for business opportunities while maintaining consistent rental income from the residential units and commercial tenant. With a mix of residential and commercial space, along with room for further development, this property presents an excellent opportunity for investors looking for versatility and steady returns.

28. 2024-05-13
    listed $575,000 Active 983-char remark

    Show marketing remark (983 chars)

    This 3.45-acre mixed-use property offers a unique investment opportunity with both steady residential and commercial rental income. It features four fully-rented apartment units, with a fifth unit nearing completion, as well as a newer 400-foot, 5-inch well. The property also includes a commercial building with store frontage, office space, and a special-purpose 80x40 barn, built in 2011. Currently, a dog grooming business rents the commercial space on a month-to-month basis. Additionally, there is a 40x80 pole building, offering future potential for business expansion or storage use. Conveniently located just off US-127, the property provides a prime location for business opportunities while maintaining consistent rental income from the residential units and commercial tenant. With a mix of residential and commercial space, along with room for further development, this property presents an excellent opportunity for investors looking for versatility and steady returns.

ⓘ 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: $51,468
• − Mortgage interest: −$21,006
• − Property taxes: −$5,625
• − Insurance: −$1,875
• − Repairs & maintenance: −$4,117
• − Management: −$4,117
• − Depreciation: −$10,909
• Taxable income: $3,818
• Est. tax owed @ 24.0%: −$916
• After-tax cash flow: $8,645/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This multi-family property requires moderate renovations to improve its condition and increase its value. Key areas for improvement include exterior siding, interior paint, and kitchen appliances.

Repairs flagged

• Major siding — Significant wear and tear
• Major exterior paint — Visible peeling and fading
• Major interior paint — Worn and outdated
• Major bathroom fixtures — Old and dated design
• Major kitchen appliances — Old and outdated design

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace old appliances in kitchen — Modern appliances improve functionality and attract tenants
• Both Upgrade bathroom fixtures — Newer fixtures enhance functionality and appeal to potential buyers
• Both Landscaping and curb appeal improvements — Aesthetic improvements increase curb appeal and attract tenants

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Significant wear and tear	Major	$15,000–50,000
exterior paint · Visible peeling and fading	Major	$15,000–50,000
interior paint · Worn and outdated	Major	$15,000–50,000
bathroom fixtures · Old and dated design	Major	$15,000–50,000
kitchen appliances · Old and outdated design	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace old appliances in kitchen — Modern appliances improve functionality and attract tenants ↑
• Both Upgrade bathroom fixtures — Newer fixtures enhance functionality and appeal to potential buyers ↑
• Both Landscaping and curb appeal improvements — Aesthetic improvements increase curb appeal and attract tenants ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Arcada

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• 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

-44.4% since first listed

13 events — show timeline

• 2026-05-21 Price Changed $375,000 MiRealSource-MiMLS
• 2026-05-20 Price Changed $375,000 REALCOMP
• 2026-04-03 Price Changed $440,000 MiRealSource-MiMLS
• 2026-04-02 Price Changed $440,000 REALCOMP
• 2025-03-27 Price Changed $499,000 MiRealSource-MiMLS
• 2025-03-27 Price Changed $499,000 MiRealSource-MiMLS
• 2025-03-26 Price Changed $499,000 REALCOMP
• 2025-01-23 Price Changed $575,000 MiRealSource-MiMLS
• 2025-01-23 Price Changed $575,000 MiRealSource-MiMLS
• 2024-07-09 Price Changed $645,000 MiRealSource-MiMLS
• 2024-07-09 Price Changed $645,000 MiRealSource-MiMLS
• 2024-05-13 Listed $575,000 REALCOMP
• 2024-05-13 Listed $675,000 MiRealSource-MiMLS