908 N Van Buren St · Bay City, MI 48708

$115,000

4 bd · 3.0 ba · 2,512 sqft · SingleFamily public records · 13 Days on market

Built 1900 5,227 sqft lot $46/sqft · 6% above area Est $109k · 6% 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 +26.6/30.0
• DSCR +9.1/10.0
• 1% rule +7.6/10.0
• ARV discount +4.8/15.0
• Livability +3.4/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming Bay City triplex is a fantastic investment opportunity, offering fresh updates including newer windows, new bedroom carpet, fresh paint, and a brand-new roof. The spacious main-floor unit features hardwood floors, two fireplaces, an eat-in kitchen plus formal dining room, and laundry room. The upper level includes a two-bedroom unit and a studio apartment. With added storage in the basement and parking for two to three vehicles, this property is ready to start working for you. An ideal opportunity for investors looking to add a solid, updated property to their portfolio. Call The Dream Team for more info today!

Key facts

• New bedroom carpet
• Fresh paint
• Brand new roof

Tags

• NEWER WINDOWS
• NEW BEDROOM CARPET
• FRESH PAINT
• BRAND NEW ROOF
• HARDWOOD FLOORS
• TWO FIREPLACES

Property features AI

Finance

• Financial info: Unit rents: $950, $850, $650

Exterior

• Parking: Assigned parking
• Utilities: Public water; Public sewer
• Home design: Multi-family residential income property; Two stories
• Construction: Wood siding; Stone foundation
• Exterior features: Publicly maintained road; Lot approximately 50 x 100 (0.12 acre); Residential zoning

Interior

• Kitchen: Gas water heater
• Flooring: Ceramic tile; Hardwood
• Bathrooms: Three full bathrooms
• Heating & cooling: Forced air heating (natural gas); Ceiling fans
• Interior features: High ceilings; Window treatments

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $307 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Cap rate 9.5% vs local median 6.5% in Bay City — 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 68/100 on livability (#360 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D, crime F, commute F.
• Bay City School District (urban): math 27% / reading 40% proficiency, ranked #317 of 540 in MI (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Washington Elementary School (math 8% / reading 17%, grade F, #1,203 of 1,397 statewide, top 87%, 395 students, 93% FRL); Handy Middle School (math 17% / reading 33%, grade F, #387 of 493 statewide, top 78%, 685 students, 79% FRL); Bay City Central High School (math 22% / reading 47%, grade F, #372 of 713 statewide, top 56%, 1,033 students, 64% FRL) — zoned schools average 79% FRL vs 44% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 150 active listings in the ZIP; 39 units permitted in Bay County in 2024 (0 in 5+ unit buildings).
• This rent runs 35% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Bay County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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.
• Current owner paid $65k; list at $115k implies a 77% 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 $115,000

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. Crime grade is F 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?
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: 1.26% ✓
• Cap rate: 9.50%
• Cash-on-cash: 11.46%
• DSCR: 1.51
• GRM: 6.6

CMA / ARV

• ARV (median comp): $108,518
• List price: $115,000
• Delta: 5.97%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1216 4th St	0.19mi	4/2.0	2,489 (-1%)	4mo	$145,000	$58	82
904 6th St	0.19mi	4/2.5	2,387 (-5%)	3mo	$248,000	$104	78
605 N Van Buren St	0.22mi	5/3.0 (+1)	2,700 (+8%)	1mo	$61,000	$23	71
909 6th St	0.16mi	4/2.5	2,337 (-7%)	14mo	$225,000	$96	67
1715 5th St	0.46mi	5/2.0 (+1)	2,477 (-1%)	3mo	$158,000	$64	64
1826 McKinley Ave	0.67mi	4/2.0	2,504 (-0%)	9mo	$200,000	$80	57
605 Ames Ct	0.57mi	4/2.5	2,416 (-4%)	10mo	$250,000	$103	57
1600 5th St	0.39mi	4/2.0	2,844 (+13%)	1mo	$215,900	$76	55
521 N Grant St	0.24mi	5/3.0 (+1)	2,740 (+9%)	19mo	$40,000	$15	52
620 N Johnson St	0.54mi	5/2.5 (+1)	2,670 (+6%)	12mo	$299,900	$112	47
321 N Birney St	0.50mi	4/2.0	2,200 (-12%)	6mo	$210,000	$95	47
401 N Sheridan St	0.41mi	4/2.0	2,171 (-14%)	14mo	$152,000	$70	42

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: 0.8%
• Equity multiple: 1.03×
• Total profit: $996
• Equity at exit: $17,147

10-year hold

• IRR: 10.5%
• Equity multiple: 1.82×
• Total profit: $26,284
• Equity at exit: $9,943

Cash invested: $32,200 (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 48708

• Home prices YoY: -30.9%
• Active inventory: 150
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,453 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$189 /mo · $2,270/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $307

Break-even live

Break-even rent $1,063

Max offer price $115,000

Occupancy floor 74%

Sensitivity live

Price	-10% $373	-5% $340	+0% $307	+5% $275	+10% $242
Rent	-10% $193	-5% $250	+0% $307	+5% $365	+10% $422
Rate	-1.0pp $365	-0.5pp $337	base $307	+0.5pp $278	+1.0pp $247

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-16
   status Active 632-char remark

   Show marketing remark (632 chars)

   This charming Bay City triplex is a fantastic investment opportunity, offering fresh updates including newer windows, new bedroom carpet, fresh paint, and a brand-new roof. The spacious main-floor unit features hardwood floors, two fireplaces, an eat-in kitchen plus formal dining room, and laundry room. The upper level includes a two-bedroom unit and a studio apartment. With added storage in the basement and parking for two to three vehicles, this property is ready to start working for you. An ideal opportunity for investors looking to add a solid, updated property to their portfolio. Call The Dream Team for more info today!

2. 2026-05-16
   status Active 632-char remark

   Show marketing remark (632 chars)

   This charming Bay City triplex is a fantastic investment opportunity, offering fresh updates including newer windows, new bedroom carpet, fresh paint, and a brand-new roof. The spacious main-floor unit features hardwood floors, two fireplaces, an eat-in kitchen plus formal dining room, and laundry room. The upper level includes a two-bedroom unit and a studio apartment. With added storage in the basement and parking for two to three vehicles, this property is ready to start working for you. An ideal opportunity for investors looking to add a solid, updated property to their portfolio. Call The Dream Team for more info today!

3. 2026-05-05
   status Pending 632-char remark

   Show marketing remark (632 chars)

   This charming Bay City triplex is a fantastic investment opportunity, offering fresh updates including newer windows, new bedroom carpet, fresh paint, and a brand-new roof. The spacious main-floor unit features hardwood floors, two fireplaces, an eat-in kitchen plus formal dining room, and laundry room. The upper level includes a two-bedroom unit and a studio apartment. With added storage in the basement and parking for two to three vehicles, this property is ready to start working for you. An ideal opportunity for investors looking to add a solid, updated property to their portfolio. Call The Dream Team for more info today!

4. 2026-05-05
   status Pending 632-char remark

   Show marketing remark (632 chars)

   This charming Bay City triplex is a fantastic investment opportunity, offering fresh updates including newer windows, new bedroom carpet, fresh paint, and a brand-new roof. The spacious main-floor unit features hardwood floors, two fireplaces, an eat-in kitchen plus formal dining room, and laundry room. The upper level includes a two-bedroom unit and a studio apartment. With added storage in the basement and parking for two to three vehicles, this property is ready to start working for you. An ideal opportunity for investors looking to add a solid, updated property to their portfolio. Call The Dream Team for more info today!

5. 2026-04-29
   listed $115,000 Active 632-char remark

   Show marketing remark (632 chars)

   This charming Bay City triplex is a fantastic investment opportunity, offering fresh updates including newer windows, new bedroom carpet, fresh paint, and a brand-new roof. The spacious main-floor unit features hardwood floors, two fireplaces, an eat-in kitchen plus formal dining room, and laundry room. The upper level includes a two-bedroom unit and a studio apartment. With added storage in the basement and parking for two to three vehicles, this property is ready to start working for you. An ideal opportunity for investors looking to add a solid, updated property to their portfolio. Call The Dream Team for more info today!

6. 2026-04-29
   listed $115,000 Active 632-char remark

   Show marketing remark (632 chars)

   This charming Bay City triplex is a fantastic investment opportunity, offering fresh updates including newer windows, new bedroom carpet, fresh paint, and a brand-new roof. The spacious main-floor unit features hardwood floors, two fireplaces, an eat-in kitchen plus formal dining room, and laundry room. The upper level includes a two-bedroom unit and a studio apartment. With added storage in the basement and parking for two to three vehicles, this property is ready to start working for you. An ideal opportunity for investors looking to add a solid, updated property to their portfolio. Call The Dream Team for more info today!

7. 2002-02-25
   soldstatus $65,000

ⓘ 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: $2,270 · $189/mo
• Projected year-2 tax: $2,270 · $189/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 ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,431
• − Mortgage interest: −$6,442
• − Property taxes: −$2,270
• − Insurance: −$575
• − Repairs & maintenance: −$1,395
• − Management: −$1,395
• − Depreciation: −$3,345
• Taxable income: $2,011
• Est. tax owed @ 24.0%: −$483
• After-tax cash flow: $3,207/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: Bay City School District
• NCES district ID: 2604260
• Math proficiency: 27% ▼ -8.00%
• Reading proficiency: 40% ▼ -4.00%
• Median HH income: $43,833
• Composite: 28.47/100
• National rank: #6743
• State rank: #317 of 540 in MI

Livability — Bay City

• Score: 68/100
• State rank: #360
• US rank: #8912

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bay City, MI
• County: Bay County · 36,975 people
• City population: 25,635
• Metro: Bay City, MI
• Population (ZIP): 25,635
• Household income: $50,518
• Rent vs Own: 29.9% rent · 70.1% own
• Severe rent burden: 528.0

Population outlook (Bay County) Hauer SSP2

• Today (2025): 101,476 people
• By 2030: 98,152 · -3.3%
• By 2040: 89,711 · -11.6%
• By 2050: 80,614 · -20.6%
• By 2075: 60,544 · -40.3%
• By 2100: 41,603 · -59.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 11% Two or more races 10% Black 3%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Romanian 17% Lithuanian 7% Slovak 2%
• Foreign-born: 2% · Canada, South Korea
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Bay

• 2024 margin: R (+14.7) · D 42.0% · R 56.7% · Other 1.3%
• 2008→2024 swing: -30.0pp toward R · 2008: 15.3pp · 2024: -14.7pp
• All cycles: 2024: R+14.7 2020: R+11.6 2016: R+12.6 2012: D+6.0 2008: D+15.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -82.21%
• Current HPI: 183.5774
• Rent YoY: —
• Metro: Bay City, 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

+76.9% since first listed

9 events — show timeline

• 2026-05-23 Pending — REALCOMP
• 2026-05-23 Pending — MiRealSource-MiMLS
• 2026-05-16 Relisted — REALCOMP
• 2026-05-16 Relisted — MiRealSource-MiMLS
• 2026-05-05 Pending — REALCOMP
• 2026-05-05 Pending — MiRealSource-MiMLS
• 2026-04-29 Listed $115,000 REALCOMP
• 2026-04-29 Listed $115,000 MiRealSource-MiMLS
• 2002-02-25 Sold (Public Records) $65,000 Public Records

Property tax history

-0.9%/yr

Latest (2025): $2,270 · +3.0% YoY. Source: county tax records.