215 Elmwood St · Hartford, MI 49057

$72,500

2 bd · 1.0 ba · 828 sqft · SingleFamily · 18 Days on market

Built 1955 8,712 sqft lot ↓ 3% 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 +25.6/30.0
• DSCR +8.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 2-bedroom, 1-bath home in the heart of Hartford, featuring 828 sq ft of cozy living space. Enjoy a bright living area perfect for relaxing or entertaining. The functional kitchen and dining space offer convenience and comfort. Bedrooms are well-sized, providing a peaceful retreat. Located near local amenities and parks, this home combines comfort and community. Property sold AS-IS.

Key facts

• 8,712 sq ft lot
• Garage
• Built 1955

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $72k.

Deal economics

• At list price, monthly cash flow is $171 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($863 rent vs $72k).
• Recommended offer: $71k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#451 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools D, amenities F, commute F.
• Hartford Public Schools (town): math 14% / reading 26% proficiency, ranked #469 of 540 in MI (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 25 active listings in the ZIP; 165 units permitted in Van Buren County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $501 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Van Buren County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($71k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $71,412 (1.5% below list)

Questions for the listing agent

1. Built in 1955 — 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: 1.19% ✓
• Cap rate: 9.13%
• Cash-on-cash: 10.13%
• DSCR: 1.45
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $170,568
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
202 Pleasant St	0.18mi	2/1.0	778 (-6%)	9mo	$160,000	$206	74
65835 Gridley Rd	0.70mi	2/1.0	945 (+14%)	6mo	$149,000	$158	39

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: -1.1%
• Equity multiple: 0.96×
• Total profit: $-814
• Equity at exit: $10,810

10-year hold

• IRR: 8.6%
• Equity multiple: 1.66×
• Total profit: $13,424
• Equity at exit: $6,268

Cash invested: $20,300 (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 49057

• Home prices YoY: -28.2%
• Active inventory: 25
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $863 medium
• Mortgage (P&I): −$380
• Tax from tax record: −$100 /mo · $1,204/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$181
• Net cashflow: $171

Break-even live

Break-even rent $647

Max offer price $72,500

Occupancy floor 75%

Sensitivity live

Price	-10% $212	-5% $192	+0% $171	+5% $151	+10% $130
Rent	-10% $103	-5% $137	+0% $171	+5% $205	+10% $240
Rate	-1.0pp $208	-0.5pp $190	base $171	+0.5pp $153	+1.0pp $133

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: $18,125
• Closing costs: $2,175
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-17
   days on market $72,500 Active 18 DOM
2. 2026-06-16
   days on market $72,500 Active 17 DOM
3. 2026-06-16
   status $72,500 Active 16 DOM
4. 2026-04-15
   status Pending

   Show marketing remark (393 chars)

   Charming 2-bedroom, 1-bath home in the heart of Hartford, featuring 828 sq ft of cozy living space. Enjoy a bright living area perfect for relaxing or entertaining. The functional kitchen and dining space offer convenience and comfort. Bedrooms are well-sized, providing a peaceful retreat. Located near local amenities and parks, this home combines comfort and community. Property sold AS-IS.

5. 2026-04-15
   status Pending 393-char remark

   Show marketing remark (393 chars)

   Charming 2-bedroom, 1-bath home in the heart of Hartford, featuring 828 sq ft of cozy living space. Enjoy a bright living area perfect for relaxing or entertaining. The functional kitchen and dining space offer convenience and comfort. Bedrooms are well-sized, providing a peaceful retreat. Located near local amenities and parks, this home combines comfort and community. Property sold AS-IS.

6. 2026-04-01
   price $72,500 393-char remark

   Show marketing remark (393 chars)

   Charming 2-bedroom, 1-bath home in the heart of Hartford, featuring 828 sq ft of cozy living space. Enjoy a bright living area perfect for relaxing or entertaining. The functional kitchen and dining space offer convenience and comfort. Bedrooms are well-sized, providing a peaceful retreat. Located near local amenities and parks, this home combines comfort and community. Property sold AS-IS.

7. 2026-04-01
   price $72,500

   Show marketing remark (393 chars)

   Charming 2-bedroom, 1-bath home in the heart of Hartford, featuring 828 sq ft of cozy living space. Enjoy a bright living area perfect for relaxing or entertaining. The functional kitchen and dining space offer convenience and comfort. Bedrooms are well-sized, providing a peaceful retreat. Located near local amenities and parks, this home combines comfort and community. Property sold AS-IS.

8. 2026-03-30
   listed $75,000 Active

   Show marketing remark (393 chars)

   Charming 2-bedroom, 1-bath home in the heart of Hartford, featuring 828 sq ft of cozy living space. Enjoy a bright living area perfect for relaxing or entertaining. The functional kitchen and dining space offer convenience and comfort. Bedrooms are well-sized, providing a peaceful retreat. Located near local amenities and parks, this home combines comfort and community. Property sold AS-IS.

9. 2026-03-30
   listed $75,000 Active 393-char remark

   Show marketing remark (393 chars)

   Charming 2-bedroom, 1-bath home in the heart of Hartford, featuring 828 sq ft of cozy living space. Enjoy a bright living area perfect for relaxing or entertaining. The functional kitchen and dining space offer convenience and comfort. Bedrooms are well-sized, providing a peaceful retreat. Located near local amenities and parks, this home combines comfort and community. Property sold AS-IS.

ⓘ 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: $1,204 · $100/mo
• Projected year-2 tax: $1,204 · $100/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 3/10 Moderate 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,362
• − Mortgage interest: −$4,061
• − Property taxes: −$1,204
• − Insurance: −$362
• − Repairs & maintenance: −$829
• − Management: −$829
• − Depreciation: −$2,109
• Taxable income: $967
• Est. tax owed @ 24.0%: −$232
• After-tax cash flow: $1,825/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: Hartford Public Schools
• NCES district ID: 2617880
• Math proficiency: 14% ▼ -1.00%
• Reading proficiency: 26% ▼ -5.00%
• Median HH income: $38,924
• Composite: 16.81/100
• National rank: #9154
• State rank: #469 of 540 in MI

Livability — Hartford

• Score: 65/100
• State rank: #451
• US rank: #12656

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hartford, MI
• Population (ZIP): 6,405

Population outlook (Van Buren County) Hauer SSP2

• Today (2025): 71,479 people
• By 2030: 68,693 · -3.9%
• By 2040: 62,093 · -13.1%
• By 2050: 55,232 · -22.7%
• By 2075: 40,786 · -42.9%
• By 2100: 27,785 · -61.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (62%)
• Race & ethnicity: White 62% Hispanic / Latino 34% Two or more races 16% Native American 3% Black 2%
• Hispanic origin (detail): Mexican 33%
• Common ancestry: Romanian 2% Iranian 2% Lithuanian 1%
• Foreign-born: 9% · Canada
• Languages at home: 72% English-only · Spanish 28%

Political lean MEDSL · Van Buren

• 2024 margin: R (+15.1) · D 41.7% · R 56.9% · Other 1.4%
• 2008→2024 swing: -23.9pp toward R · 2008: 8.8pp · 2024: -15.1pp
• All cycles: 2024: R+15.1 2020: R+12.3 2016: R+13.9 2012: D+0.5 2008: D+8.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -72.22%
• Current HPI: 183.7019
• 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

-3.3% since first listed

6 events — show timeline

• 2026-04-15 Pending — REALCOMP
• 2026-04-15 Pending — MiRealSource-MiMLS
• 2026-04-01 Price Changed $72,500 MiRealSource-MiMLS
• 2026-04-01 Price Changed $72,500 REALCOMP
• 2026-03-30 Listed $75,000 REALCOMP
• 2026-03-30 Listed $75,000 MiRealSource-MiMLS

Property tax history

-1.3%/yr

Latest (2024): $1,204 · +4.9% YoY. Source: county tax records.