721 Sherman St · Big Rapids, MI 49307

$60,000

2 bd · 1.0 ba · 825 sqft · SingleFamily · 13 Days on market

Built 1915 0.44 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 bedroom 1 bath home on a . 44 double lot on the north side of town offers a great opportunity for someone with a vision. Zoned R-1 (single family) can be rented to an individual or single family. Main floor bedroom, kitchen and bath provides function along with two additional living room spaces. Home being sold 'As-Is. ' Schedule your private tour today!

Key facts

• 0.44 acre lot
• Garage
• Built 1915

Property features AI

Exterior

• Parking: Detached garage (1 garage space)
• Utilities: Public water; Natural gas for water heater
• Home design: Colonial-style single-family residence; Built in 1915; Residential property
• Construction: Wood siding; Asphalt roof; Built in 1915
• Exterior features: Paved road access; Lot about 0.44 acres

Interior

• Kitchen: Oven; Refrigerator
• Bathrooms: One full bathroom
• Heating & cooling: Forced-air heating
• Interior features: Seven total rooms; Michigan-style partial basement with slab
• Laundry & utility: Natural gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $368 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($991 rent vs $60k).
• Cap rate 13.7% vs local median 2.5% in Big Rapids — 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 73/100 on livability (#209 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities F, commute F, employment F.
• Big Rapids Public Schools (town): math 36% / reading 52% proficiency, ranked #176 of 540 in MI (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 191 active listings in the ZIP; 116 units permitted in Mecosta County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Mecosta County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 13 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.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $60,000

Questions for the listing agent

1. Built in 1915 — 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: 1.65% ✓
• Cap rate: 13.66%
• Cash-on-cash: 26.29%
• DSCR: 2.17
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $141,900
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
721 Sherman St	0.00mi	2/1.0	825 (0%)	1mo	$61,000	$74	99
1116 Rose Ave	0.43mi	2/1.0	784 (-5%)	8mo	$135,000	$172	65
620 Finley Ave	0.23mi	2/1.0	930 (+13%)	21mo	$65,000	$70	51
1013 Rose Ave	0.35mi	2/1.0	720 (-13%)	14mo	$129,900	$180	50

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: 20.1%
• Equity multiple: 1.82×
• Total profit: $13,737
• Equity at exit: $8,946

10-year hold

• IRR: 28.3%
• Equity multiple: 3.51×
• Total profit: $42,212
• Equity at exit: $5,188

Cash invested: $16,800 (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 49307

• Active inventory: 191
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $991 medium
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $368

Break-even live

Break-even rent $525

Max offer price $60,000

Occupancy floor 58%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-07
   status Pending 359-char remark

   Show marketing remark (358 chars)

   2 bedroom 1 bath home on a . 44 double lot on the north side of town offers a great opportunity for someone with a vision. Zoned R-1 (single family) can be rented to an individual or single family. Main floor bedroom, kitchen and bath provides function along with two additional living room spaces. Home being sold 'As-Is. ' Schedule your private tour today!

2. 2026-05-07
   status Pending 358-char remark

   Show marketing remark (358 chars)

   2 bedroom 1 bath home on a . 44 double lot on the north side of town offers a great opportunity for someone with a vision. Zoned R-1 (single family) can be rented to an individual or single family. Main floor bedroom, kitchen and bath provides function along with two additional living room spaces. Home being sold 'As-Is. ' Schedule your private tour today!

3. 2026-05-07
   status Pending

   Show marketing remark (358 chars)

   2 bedroom 1 bath home on a . 44 double lot on the north side of town offers a great opportunity for someone with a vision. Zoned R-1 (single family) can be rented to an individual or single family. Main floor bedroom, kitchen and bath provides function along with two additional living room spaces. Home being sold 'As-Is. ' Schedule your private tour today!

4. 2026-04-27
   historical Accepting Backup Offers 358-char remark

   Show marketing remark (359 chars)

   2 bedroom 1 bath home on a . 44 double lot on the north side of town offers a great opportunity for someone with a vision. Zoned R-1 (single family) can be rented to an individual or single family. Main floor bedroom, kitchen and bath provides function along with two additional living room spaces. Home being sold 'As-Is. ' Schedule your private tour today!

5. 2026-04-27
   historical Active Under Contract 359-char remark

   Show marketing remark (359 chars)

   2 bedroom 1 bath home on a . 44 double lot on the north side of town offers a great opportunity for someone with a vision. Zoned R-1 (single family) can be rented to an individual or single family. Main floor bedroom, kitchen and bath provides function along with two additional living room spaces. Home being sold 'As-Is. ' Schedule your private tour today!

6. 2026-04-27
   historical Active - Backup Offers Accepted

   Show marketing remark (359 chars)

   2 bedroom 1 bath home on a . 44 double lot on the north side of town offers a great opportunity for someone with a vision. Zoned R-1 (single family) can be rented to an individual or single family. Main floor bedroom, kitchen and bath provides function along with two additional living room spaces. Home being sold 'As-Is. ' Schedule your private tour today!

7. 2026-04-24
   listed $60,000 Active 359-char remark

   Show marketing remark (358 chars)

   2 bedroom 1 bath home on a . 44 double lot on the north side of town offers a great opportunity for someone with a vision. Zoned R-1 (single family) can be rented to an individual or single family. Main floor bedroom, kitchen and bath provides function along with two additional living room spaces. Home being sold 'As-Is. ' Schedule your private tour today!

8. 2026-04-24
   listed $60,000 Active 358-char remark

   Show marketing remark (358 chars)

   2 bedroom 1 bath home on a . 44 double lot on the north side of town offers a great opportunity for someone with a vision. Zoned R-1 (single family) can be rented to an individual or single family. Main floor bedroom, kitchen and bath provides function along with two additional living room spaces. Home being sold 'As-Is. ' Schedule your private tour today!

9. 2026-04-24
   listed $60,000 Active

   Show marketing remark (358 chars)

   2 bedroom 1 bath home on a . 44 double lot on the north side of town offers a great opportunity for someone with a vision. Zoned R-1 (single family) can be rented to an individual or single family. Main floor bedroom, kitchen and bath provides function along with two additional living room spaces. Home being sold 'As-Is. ' Schedule your private tour today!

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,890
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$300
• − Repairs & maintenance: −$951
• − Management: −$951
• − Depreciation: −$1,745
• Taxable income: $3,681
• Est. tax owed @ 24.0%: −$883
• After-tax cash flow: $3,534/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: Big Rapids Public Schools
• NCES district ID: 2605780
• Math proficiency: 36% ▼ -4.00%
• Reading proficiency: 52% ▲ 4.00%
• Median HH income: $35,568
• Composite: 36.37/100
• National rank: #4685
• State rank: #176 of 540 in MI

Livability — Big Rapids

• Score: 73/100
• State rank: #209
• US rank: #5231

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Big Rapids, MI
• County: Mecosta County · 18,407 people
• City population: 18,407
• Metro: Big Rapids, MI
• Population (ZIP): 18,407
• Household income: $60,358
• Rent vs Own: 36.3% rent · 63.7% own
• Severe rent burden: 667.0

Population outlook (Mecosta County) Hauer SSP2

• Today (2025): 42,954 people
• By 2030: 42,954 · +0.0%
• By 2040: 41,574 · -3.2%
• By 2050: 39,250 · -8.6%
• By 2075: 32,628 · -24.0%
• By 2100: 27,476 · -36.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 5% Black 4% Hispanic / Latino 3% Asian 1%
• Common ancestry: Romanian 6% Iranian 5% Lithuanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Asian/Pacific 1%

Political lean MEDSL · Mecosta

• 2024 margin: Solid R (+30.0) · D 34.2% · R 64.2% · Other 1.6%
• 2008→2024 swing: -29.3pp toward R · 2008: -0.7pp · 2024: -30.0pp
• All cycles: 2024: R+30.0 2020: R+28.0 2016: R+26.1 2012: R+9.8 2008: R+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -107.88%
• Current HPI: 199.8828
• Rent YoY: —
• Metro: Big Rapids, 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

+0.0% since first listed

9 events — show timeline

• 2026-05-07 Pending — REALCOMP
• 2026-05-07 Pending — MiRealSource-MiMLS
• 2026-05-07 Pending — SW Michigan MLS
• 2026-04-27 Contingent — MiRealSource-MiMLS
• 2026-04-27 Contingent — REALCOMP
• 2026-04-27 Contingent — SW Michigan MLS
• 2026-04-24 Listed $60,000 SW Michigan MLS
• 2026-04-24 Listed $60,000 MiRealSource-MiMLS
• 2026-04-24 Listed $60,000 REALCOMP