920 E Hoffman St · Three Rivers, MI 49093

$99,000

2 bd · 1.0 ba · 832 sqft · SingleFamily public records · 7 Days on market

1.13 ac lot Est $151k · 34% 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 +25.2/30.0
• ARV discount +15.0/15.0
• DSCR +8.3/10.0
• 1% rule +6.0/10.0
• 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

Home features two bedroom, attached garage, and a full basement. Outside you'll find a large shaded lot on the outskirts of town. Come see this home today and let your imagination run wild.

Key facts

• Attached garage
• Full basement
• Large shaded lot

Tags

• ATTACHED GARAGE
• FULL BASEMENT
• LARGE SHADED LOT

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water
• Home design: Ranch single-family residence; One story
• Construction: Vinyl siding; Built in 1919
• Exterior features: 1.13-acre lot; Public water

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Ramped entrance; 5 total rooms; Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $221 ($3k/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 9.0% 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; 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 $684 of loan paydown is wiped out by about $3k 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 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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.

Recommended offer $99,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.10% ✓
• Cap rate: 8.97%
• Cash-on-cash: 9.56%
• DSCR: 1.43
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $150,592
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1224 Shiawassee River Rd	0.31mi	2/—	883 (+6%)	20mo	$32,500	$37	59
415 Eleventh Ave	0.46mi	3/1.0 (+1)	936 (+12%)	24mo	$182,000	$194	33
607 E Hoffman St	0.69mi	2/1.0	720 (-14%)	16mo	$130,000	$181	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: -1.9%
• Equity multiple: 0.93×
• Total profit: $-1,987
• Equity at exit: $14,761

10-year hold

• IRR: 7.8%
• Equity multiple: 1.59×
• Total profit: $16,340
• 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 49093

• Active inventory: 178
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,092 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$81 /mo · $973/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $221

Break-even live

Break-even rent $812

Max offer price $99,000

Occupancy floor 75%

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 7 events

1. 2026-06-13
   status $99,000 Pending 7 DOM
2. 2026-06-10
   days on market $99,000 Active 7 DOM
3. 2026-06-09
   days on market $99,000 Active 6 DOM
4. 2026-06-08
   days on market $99,000 Active 5 DOM
5. 2026-06-07
   days on market $99,000 Active 4 DOM
6. 2026-06-03
   remarks 189-char remark

   Show marketing remark (189 chars)

   Home features two bedroom, attached garage, and a full basement. Outside you'll find a large shaded lot on the outskirts of town. Come see this home today and let your imagination run wild.

7. 2026-06-03
   listed $99,000 Active 1 DOM

   Show marketing remark (189 chars)

   Home features two bedroom, attached garage, and a full basement. Outside you'll find a large shaded lot on the outskirts of town. Come see this home today and let your imagination run wild.

ⓘ 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: $973 · $81/mo
• Projected year-2 tax: $1,249 · $104/mo
• Expected delta: +$276/yr (+$23/mo · 28.3%)

ⓘ 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: $13,099
• − Mortgage interest: −$5,546
• − Property taxes: −$973
• − Insurance: −$495
• − Repairs & maintenance: −$1,048
• − Management: −$1,048
• − Depreciation: −$2,880
• Taxable income: $1,109
• Est. tax owed @ 24.0%: −$266
• After-tax cash flow: $2,384/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

+0.0% since first listed

3 events — show timeline

• 2026-06-03 Listed $99,000 REALCOMP
• 2026-06-03 Listed $99,000 MiRealSource-MiMLS
• 2026-06-03 Listed $99,000 SW Michigan MLS

Property tax history

+2.2%/yr

Latest (2025): $973 · -32.2% YoY. Source: county tax records.