404 S Bridge St · Belding, MI 48809

$248,000

5 bd · 2.0 ba · 1,480 sqft · SingleFamily public records · 10 Days on market

Built 1900 4,356 sqft lot Est $223k · 11% 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 +19.7/30.0
• Appreciation +10.0/10.0
• DSCR +6.2/10.0
• 1% rule +4.3/10.0
• Livability +3.7/5.0
• ARV discount +2.6/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks MLS

Welcome Home to this beautifully updated house blending historic charm with modern amenities in an unbeatable location just steps from downtown shops, restaurants, parks, schools, the Flat River Trail, and local cafes. Completely remodeled from top to bottom, this move-in ready home features a new windows, custom kitchen with center island, Luxury life proof flooring, paint throughout, two full bathrooms, updated electrical and plumbing, plus a new high efficiency furnace, central air and water heater. The spacious living room offers large windows with plenty of light and tall ceilings. Enjoy relaxing on either front or side covered porches or in your fenced in yard all while being conveniently located near public access to the Flat River and East Riverside Park.

Key facts

• Custom kitchen
• Historic charm
• Modern amenities

Tags

• UPDATED HOUSE
• HISTORIC CHARM
• MODERN AMENITIES
• UNBEATABLE LOCATION
• CUSTOM KITCHEN
• HIGH EFFICIENCY FURNACE

Property features AI

Exterior

• Utilities: Public water; Natural gas available/connected; Electric water heater
• Home design: Traditional single-family residence; Approximately 1,480 living area; Built in 1900
• Construction: Vinyl siding; Composition roof; Partial/Michigan-style crawlspace basement
• Exterior features: Corner lot; Sidewalk; Paved road access

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Has cooling
• Interior features: Total of 4 rooms; Screens on windows; Replacement windows; Insulated windows
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $248k.

Deal economics

• At list price, monthly cash flow is $293 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $230k (7.5% below list).
• Recommended offer: $230k (7.5% below list) — sets the bar for 1% rule.
• Cap rate 7.7% vs local median 4.3% in Belding — 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 (#169 in MI, #4,436 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, schools D-, amenities F.
• Belding Area School District (town): math 23% / reading 31% proficiency, ranked #398 of 540 in MI (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 73 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 94 units permitted in Ionia County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $27k of equity ($2k loan paydown + $25k appreciation (10.0% local appreciation)).
• Ionia County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $69k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 11 sale attempts since 27y 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 $75k; list at $248k implies a 231% 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 $229,500 (7.5% below list)

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. 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: 0.93% ✗
• Cap rate: 7.71%
• Cash-on-cash: 5.06%
• DSCR: 1.22
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $223,480
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
616 S Broas St	0.24mi	4/2.0 (-1)	1,512 (+2%)	2mo	$255,000	$169	79
121 W Ann St	0.20mi	4/2.0 (-1)	1,558 (+5%)	7mo	$255,000	$164	71
622 James St	0.20mi	4/1.0 (-1)	1,367 (-8%)	13mo	$180,000	$132	58
932 James St	0.40mi	4/2.0 (-1)	1,521 (+3%)	19mo	$229,000	$151	56
622 S Pearl St	0.21mi	4/1.0 (-1)	1,380 (-7%)	17mo	$169,900	$123	56
425 Woodland Ave	0.52mi	4/2.0 (-1)	1,651 (+12%)	6mo	$210,000	$127	46
323 Lewis St	0.49mi	4/2.0 (-1)	1,604 (+8%)	14mo	$225,000	$140	46
833 Morgan Dr	0.67mi	4/3.0 (-1)	1,400 (-5%)	6mo	$325,000	$232	46
522 S Front St	0.27mi	4/1.0 (-1)	1,260 (-15%)	12mo	$199,900	$159	43
933 Masonic Ave	0.67mi	4/1.0 (-1)	1,408 (-5%)	11mo	$200,000	$142	42
804 Morton Ave	0.70mi	4/1.0 (-1)	1,509 (+2%)	15mo	$220,000	$146	42
114 Vincent St	0.73mi	4/2.0 (-1)	1,634 (+10%)	5mo	$250,000	$153	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.9%
• Equity multiple: 3.21×
• Total profit: $153,614
• Equity at exit: $223,418

10-year hold

• IRR: 24.3%
• Equity multiple: 7.30×
• Total profit: $437,550
• Equity at exit: $481,809

Cash invested: $69,440 (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 48809

• Home prices YoY: 3.3%
• Active inventory: 73
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $2,295 medium
• Mortgage (P&I): −$1,301
• Tax from tax record: −$117 /mo · $1,400/yr
• Insurance: −$103
• HOA: −$0
• Vacancy / Maint / Mgmt: −$482
• Net cashflow: $293

Break-even live

Break-even rent $1,925

Max offer price $248,000

Occupancy floor 82%

Sensitivity live

Price	-10% $433	-5% $363	+0% $293	+5% $222	+10% $152
Rent	-10% $111	-5% $202	+0% $293	+5% $383	+10% $474
Rate	-1.0pp $417	-0.5pp $356	base $293	+0.5pp $228	+1.0pp $163

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: $62,000
• Closing costs: $7,440
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
372 White Pine Ct Belding, MI	4.0	2.5	1750	$2,295	$1.31	11d	1	0.80mi

Listing history 7 events

1. 2026-06-21
   days on market $248,000 Active 10 DOM
2. 2026-06-18
   days on market $248,000 Active 7 DOM
3. 2026-06-17
   days on market $248,000 Active 6 DOM
4. 2026-06-16
   days on market $248,000 Active 5 DOM
5. 2026-06-15
   days on market $248,000 Active 4 DOM
6. 2026-06-14
   remarks 699-char remark
7. 2026-06-14
   listed $248,000 Active 2 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: $1,400 · $117/mo
• Projected year-2 tax: $2,610 · $217/mo
• Expected delta: +$1,210/yr (+$101/mo · 86.4%)

ⓘ 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 3/10 Moderate 7 d/yr ≥98°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: $27,540
• − Mortgage interest: −$13,892
• − Property taxes: −$1,400
• − Insurance: −$1,240
• − Repairs & maintenance: −$2,203
• − Management: −$2,203
• − Depreciation: −$7,215
• Taxable loss: −$613
• Est. tax savings @ 24.0%: +$147
• After-tax cash flow: $3,657/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: Belding Area School District
• NCES district ID: 2604530
• Math proficiency: 23% ▼ -9.00%
• Reading proficiency: 31% ▼ -8.00%
• Median HH income: $46,310
• Composite: 23.33/100
• National rank: #7915
• State rank: #398 of 540 in MI

Livability — Belding

• Score: 74/100
• State rank: #169
• US rank: #4436

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Belding, MI
• Population (ZIP): 11,292

Population outlook (Ionia County) Hauer SSP2

• Today (2025): 63,958 people
• By 2030: 63,321 · -1.0%
• By 2040: 61,544 · -3.8%
• By 2050: 58,682 · -8.2%
• By 2075: 48,909 · -23.5%
• By 2100: 35,867 · -43.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Iranian 7% Romanian 4% Lithuanian 3%
• Foreign-born: 1% · Canada, China
• Languages at home: 95% English-only · Spanish 3% Russian/Polish/Slavic 1%

Political lean MEDSL · Ionia

• 2024 margin: Solid R (+31.9) · D 33.3% · R 65.2% · Other 1.5%
• 2008→2024 swing: -26.0pp toward R · 2008: -5.8pp · 2024: -31.9pp
• All cycles: 2024: R+31.9 2020: R+30.3 2016: R+31.0 2012: R+12.8 2008: R+5.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 13.30%
• Current HPI: 412.5108
• 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

+226.7% since first listed

25 events — show timeline

• 2026-06-11 Listed $248,000 REALCOMP
• 2026-06-11 Listed $248,000 SW Michigan MLS
• 2026-06-11 Listed $248,000 MiRealSource-MiMLS
• 2026-02-03 Listing Removed — MiRealSource-MiMLS
• 2026-02-02 Listing Removed — REALCOMP
• 2025-11-05 Price Changed $128,000 MiRealSource-MiMLS
• 2025-11-04 Price Changed $128,000 REALCOMP
• 2025-11-04 Price Changed $128,000 SW Michigan MLS
• 2025-08-17 Price Changed $132,000 MiRealSource-MiMLS
• 2025-08-17 Price Changed $132,000 REALCOMP
• 2025-08-17 Price Changed $132,000 SW Michigan MLS
• 2025-08-02 Listed $140,000 REALCOMP
• 2025-08-02 Listed $140,000 MiRealSource-MiMLS
• 2025-04-15 Listing Removed — MiRealSource-MiMLS
• 2025-03-31 Price Changed $115,000 MiRealSource-MiMLS
• 2025-03-30 Price Changed $115,000 REALCOMP
• 2025-03-30 Price Changed $115,000 SW Michigan MLS
• 2025-03-20 Listed $135,000 REALCOMP
• 2025-03-20 Listed $135,000 MiRealSource-MiMLS
• 2003-02-07 Listed $52,000 REALCOMP
• 2003-02-07 Listed $52,000 SW Michigan MLS
• 2000-03-30 Sold (MLS) $75,000 REALCOMP
• 2000-03-30 Sold (MLS) $75,000 SW Michigan MLS
• 1999-12-24 Listed $75,900 REALCOMP
• 1999-12-24 Listed $75,900 SW Michigan MLS

Property tax history

+2.4%/yr

Latest (2025): $1,400 · +2.6% YoY. Source: county tax records.