40 W Alden St · Coldwater, MI 49036

$114,900

2 bd · 1.0 ba · 1,148 sqft · SingleFamily public records · 74 Days on market

Built 1957 6,359 sqft lot $100/sqft · 27% below area Est $158k · 27% under

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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 +21.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.0/10.0
• 1% rule +4.6/10.0
• Livability +3.6/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to your charming new home in the heart of Coldwater, MI! This delightful 2-bedroom, 1-bath ranch-style residence offers not just a house, but a lifestyle filled with comfort and convenience. Step inside to discover a spacious living room bathed in natural light and perfect for relaxing or entertaining friends. The updated kitchen features cozy eating space and modern amenities that inspire culinary creativity. The family room provides an additional relaxed environment, ideal for movie nights or quiet afternoons. Outside, you'll find a secure fenced backyard ready for barbecues, gardening enthusiasts, or playful pets and all under the expansive Michigan sky. One major highlight is its location: walkable access to local shops grants you the luxury of enjoying Coldwater's vibrantcommunity without needing your car keys. The beautifully updated bath adds a touch of luxury with contemporary fittings and finishes. This home combines tranquility with accessibility; it is indeed the perfect blend of suburban charm and city convenience. Don't miss out on this incredible opportunity to make Coldwater your new address!

Key facts

• Updated bath
• Updated kitchen
• Fenced backyard

Tags

• FENCED BACKYARD
• WALKABLE ACCESS TO LOCAL SHOPS
• UPDATED KITCHEN
• UPDATED BATH

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $182 ($2k/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 $110k (4.0% below list).
• Recommended offer: $108k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 2.9% in Coldwater — 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 71/100 on livability (#270 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, employment D+, amenities F.
• Coldwater Community Schools (town): math 26% / reading 37% proficiency, ranked #344 of 540 in MI (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 141 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 43 units permitted in Branch County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $794 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Branch County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 4y ago; this cycle's ask has dropped $35k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $108,006 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 0.96% ✗
• Cap rate: 8.19%
• Cash-on-cash: 6.78%
• DSCR: 1.30
• GRM: 8.7

CMA / ARV

• ARV (median comp): $158,162
• List price: $114,900
• Delta: -27.35%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
227 Church St	0.70mi	2/1.5	1,156 (+1%)	0mo	$105,000	$91	64
109 Pierson St	0.29mi	2/1.0	999 (-13%)	8mo	$145,000	$145	58
32 E Pointe Dr	0.66mi	3/1.5 (+1)	1,152 (+0%)	6mo	$229,000	$199	56
95 S Monroe St	0.63mi	3/1.0 (+1)	1,200 (+4%)	3mo	$71,000	$59	56
160 Fairfield Dr	0.45mi	3/1.0 (+1)	1,268 (+10%)	5mo	$185,000	$146	52
61 N Polk St	0.57mi	3/1.0 (+1)	1,269 (+10%)	3mo	$180,000	$142	49
102 Pillsbury Ave	0.55mi	3/2.0 (+1)	1,040 (-9%)	5mo	$225,000	$216	45
74 Harvey St	0.51mi	3/1.0 (+1)	1,008 (-12%)	8mo	$180,000	$179	45
204 Henry	0.71mi	3/1.5 (+1)	1,056 (-8%)	3mo	$96,000	$91	44
21 Amber View Ct	0.70mi	3/2.0 (+1)	1,064 (-7%)	6mo	$220,000	$207	41
88 N Sprague St	0.72mi	3/1.0 (+1)	1,267 (+10%)	5mo	$190,000	$150	40
176 Smith St	0.75mi	3/1.0 (+1)	1,255 (+9%)	8mo	$200,000	$159	37

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: -5.9%
• Equity multiple: 0.78×
• Total profit: $-7,092
• Equity at exit: $17,132

10-year hold

• IRR: 3.7%
• Equity multiple: 1.27×
• Total profit: $8,535
• Equity at exit: $9,934

Cash invested: $32,172 (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 49036

• Active inventory: 141
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,103 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$39 /mo · $467/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $182

Break-even live

Break-even rent $873

Max offer price $114,900

Occupancy floor 79%

Sensitivity live

Price	-10% $247	-5% $214	+0% $182	+5% $149	+10% $117
Rent	-10% $95	-5% $138	+0% $182	+5% $225	+10% $269
Rate	-1.0pp $240	-0.5pp $211	base $182	+0.5pp $152	+1.0pp $122

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
313 W Chicago St Coldwater, MI	3.0	1.0	802	$1,232	$1.53	45d	1	0.69mi
39 Whispering Pines Dr Coldwater, MI	1.0–3.0	1.0–2.0	1012	$924	$0.91	45d	1	1.20mi

Listing history 28 events

1. 2026-06-21
   days on market $114,900 Active 74 DOM
2. 2026-06-21
   pricedays on market $114,900 Active 73 DOM
3. 2026-06-18
   days on market $124,900 Active 71 DOM
4. 2026-06-18
   status $124,900 Active 70 DOM
5. 2026-04-21
   price $139,900 1132-char remark

   Show marketing remark (1133 chars)

   Welcome to your charming new home in the heart of Coldwater, MI! This delightful 2-bedroom, 1-bath ranch-style residence offers not just a house, but a lifestyle filled with comfort and convenience. Step inside to discover a spacious living room bathed in natural light and perfect for relaxing or entertaining friends. The updated kitchen features cozy eating space and modern amenities that inspire culinary creativity. The family room provides an additional relaxed environment, ideal for movie nights or quiet afternoons. Outside, you'll find a secure fenced backyard ready for barbecues, gardening enthusiasts, or playful pets and all under the expansive Michigan sky. One major highlight is its location: walkable access to local shops grants you the luxury of enjoying Coldwater's vibrant community without needing your car keys. The beautifully updated bath adds a touch of luxury with contemporary fittings and finishes. This home combines tranquility with accessibility; it is indeed the perfect blend of suburban charm and city convenience. Don't miss out on this incredible opportunity to make Coldwater your new address!

6. 2026-04-21
   price $139,900 1133-char remark

   Show marketing remark (1133 chars)

   Welcome to your charming new home in the heart of Coldwater, MI! This delightful 2-bedroom, 1-bath ranch-style residence offers not just a house, but a lifestyle filled with comfort and convenience. Step inside to discover a spacious living room bathed in natural light and perfect for relaxing or entertaining friends. The updated kitchen features cozy eating space and modern amenities that inspire culinary creativity. The family room provides an additional relaxed environment, ideal for movie nights or quiet afternoons. Outside, you'll find a secure fenced backyard ready for barbecues, gardening enthusiasts, or playful pets and all under the expansive Michigan sky. One major highlight is its location: walkable access to local shops grants you the luxury of enjoying Coldwater's vibrant community without needing your car keys. The beautifully updated bath adds a touch of luxury with contemporary fittings and finishes. This home combines tranquility with accessibility; it is indeed the perfect blend of suburban charm and city convenience. Don't miss out on this incredible opportunity to make Coldwater your new address!

7. 2026-03-19
   listed $149,900 Active 1132-char remark

   Show marketing remark (1133 chars)

   Welcome to your charming new home in the heart of Coldwater, MI! This delightful 2-bedroom, 1-bath ranch-style residence offers not just a house, but a lifestyle filled with comfort and convenience. Step inside to discover a spacious living room bathed in natural light and perfect for relaxing or entertaining friends. The updated kitchen features cozy eating space and modern amenities that inspire culinary creativity. The family room provides an additional relaxed environment, ideal for movie nights or quiet afternoons. Outside, you'll find a secure fenced backyard ready for barbecues, gardening enthusiasts, or playful pets and all under the expansive Michigan sky. One major highlight is its location: walkable access to local shops grants you the luxury of enjoying Coldwater's vibrant community without needing your car keys. The beautifully updated bath adds a touch of luxury with contemporary fittings and finishes. This home combines tranquility with accessibility; it is indeed the perfect blend of suburban charm and city convenience. Don't miss out on this incredible opportunity to make Coldwater your new address!

8. 2026-03-19
   listed $149,900 Active 1133-char remark

   Show marketing remark (1133 chars)

   Welcome to your charming new home in the heart of Coldwater, MI! This delightful 2-bedroom, 1-bath ranch-style residence offers not just a house, but a lifestyle filled with comfort and convenience. Step inside to discover a spacious living room bathed in natural light and perfect for relaxing or entertaining friends. The updated kitchen features cozy eating space and modern amenities that inspire culinary creativity. The family room provides an additional relaxed environment, ideal for movie nights or quiet afternoons. Outside, you'll find a secure fenced backyard ready for barbecues, gardening enthusiasts, or playful pets and all under the expansive Michigan sky. One major highlight is its location: walkable access to local shops grants you the luxury of enjoying Coldwater's vibrant community without needing your car keys. The beautifully updated bath adds a touch of luxury with contemporary fittings and finishes. This home combines tranquility with accessibility; it is indeed the perfect blend of suburban charm and city convenience. Don't miss out on this incredible opportunity to make Coldwater your new address!

9. 2025-09-16
   historical
10. 2025-09-01
    status Active
11. 2025-09-01
    status Active
12. 2025-08-31
    historical
13. 2025-08-30
    historical
14. 2025-03-14
    listed $149,900 Active
15. 2025-03-14
    listed $149,900 Active
16. 2022-07-28
    soldstatus $140,500
17. 2022-07-15
    status Pending
18. 2022-07-15
    status Pending
19. 2022-07-15
    status Pending
20. 2022-07-15
    soldstatus $140,500 Sold
21. 2022-07-15
    soldstatus $140,500 Sold
22. 2022-07-15
    soldstatus $140,500 Closed
23. 2022-06-08
    historical Contingent - Continue To Show
24. 2022-06-08
    historical Keep Showing-Contgcy Appl
25. 2022-06-08
    historical Active Contingent
26. 2022-06-04
    listed $139,900 Active
27. 2022-06-04
    listed $139,900 Active
28. 2022-06-04
    listed $139,900 Active

ⓘ 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: $467 · $39/mo
• Projected year-2 tax: $1,118 · $93/mo
• Expected delta: +$651/yr (+$54/mo · 139.5%)

ⓘ 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 ≥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: $13,231
• − Mortgage interest: −$6,436
• − Property taxes: −$467
• − Insurance: −$574
• − Repairs & maintenance: −$1,059
• − Management: −$1,059
• − Depreciation: −$3,343
• Taxable income: $294
• Est. tax owed @ 24.0%: −$71
• After-tax cash flow: $2,110/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: Coldwater Community Schools
• NCES district ID: 2610140
• Math proficiency: 26% ▼ -12.00%
• Reading proficiency: 37% ▼ -5.00%
• Median HH income: $44,373
• Composite: 26.87/100
• National rank: #7101
• State rank: #344 of 540 in MI

Livability — Coldwater

• Score: 71/100
• State rank: #270
• US rank: #6664

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Coldwater, MI
• Population (ZIP): 24,697

Population outlook (Branch County) Hauer SSP2

• Today (2025): 41,079 people
• By 2030: 39,622 · -3.5%
• By 2040: 36,584 · -10.9%
• By 2050: 33,462 · -18.5%
• By 2075: 26,612 · -35.2%
• By 2100: 18,580 · -54.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 7% Two or more races 5% Black 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 5% Iranian 3% Lithuanian 2%
• Foreign-born: 8% · Canada
• Languages at home: 86% English-only · Arabic 7% Spanish 5% German/W. Germanic 1%

Political lean MEDSL · Branch

• 2024 margin: Solid R (+42.4) · D 28.0% · R 70.4% · Other 1.6%
• 2008→2024 swing: -36.2pp toward R · 2008: -6.1pp · 2024: -42.4pp
• All cycles: 2024: R+42.4 2020: R+38.5 2016: R+38.1 2012: R+18.7 2008: R+6.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -214.60%
• Current HPI: 192.653
• 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

24 events — show timeline

• 2026-04-21 Price Changed $139,900 REALCOMP
• 2026-04-21 Price Changed $139,900 Greater Lansing AoR
• 2026-03-19 Listed $149,900 Greater Lansing AoR
• 2026-03-19 Listed $149,900 REALCOMP
• 2025-09-16 Listing Removed — MiRealSource-MiMLS
• 2025-09-01 Relisted — MiRealSource-MiMLS
• 2025-09-01 Relisted — REALCOMP
• 2025-08-31 Listing Removed — MiRealSource-MiMLS
• 2025-08-30 Listing Removed — REALCOMP
• 2025-03-14 Listed $149,900 MiRealSource-MiMLS
• 2025-03-14 Listed $149,900 REALCOMP
• 2022-07-28 Sold (Public Records) $140,500 Public Records
• 2022-07-15 Pending — MiRealSource-MiMLS
• 2022-07-15 Pending — SW Michigan MLS
• 2022-07-15 Pending — REALCOMP
• 2022-07-15 Sold (MLS) $140,500 MiRealSource-MiMLS
• 2022-07-15 Sold (MLS) $140,500 SW Michigan MLS
• 2022-07-15 Sold (MLS) $140,500 REALCOMP
• 2022-06-08 Contingent — REALCOMP
• 2022-06-08 Contingent — MiRealSource-MiMLS
• 2022-06-08 Contingent — SW Michigan MLS
• 2022-06-04 Listed $139,900 MiRealSource-MiMLS
• 2022-06-04 Listed $139,900 SW Michigan MLS
• 2022-06-04 Listed $139,900 REALCOMP

Property tax history

-37.8%/yr

Latest (2024): $467 · -61.4% YoY. Source: county tax records.