505 S Wenona Ave · Bay City, MI 48706

$139,000

3 bd · 2.0 ba · 2,554 sqft · SingleFamily public records · 34 Days on market

Built 1890 8,712 sqft lot $54/sqft · 42% below area Est $114k · 21% over

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Why this score? — see what drove the D 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 +20.2/30.0
• DSCR +6.4/10.0
• 1% rule +5.1/10.0
• Livability +3.4/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Wow House on Wenona. Fully Updated Thru-out. You will love the Open Floor Plan. Features include a New Roof in 2026. New Chefs Kitchen with Stainless Steel Applainces. Spacious 1220 Sq Ft, 3 Bedroom, 1 Full & 2 half New Baths. Don't Miss the secret Bedroom on the main floor. Maitenance free Vinyl Exterior and Windows. Very convenient 1/2 baths in the bedrooms upstairs. New Flooring and freshly painted thru-out. First one in will buy, this Beautifully restored home. The New roof has a transferable warranty Don't Hesitate or you will be too Late. Call or Text the Agent today.

Key facts

• New flooring
• New chefs kitchen
• New roof

Tags

• NEW ROOF
• NEW CHEFS KITCHEN
• NEW FLOORING

Property features AI

Finance

• Other: Lot approximately 0.2 acre (frontage 78 ft)

Exterior

• Utilities: Natural gas heat; Forced air heating system; Public water; Public sanitary sewer
• Home design: Residential 2-story home; Built in 1890; Entry facing east (side of street: E)
• Construction: Vinyl siding exterior; Basement foundation; Full basement
• Exterior features: Vinyl siding; Frontage along a road; City/County streets with curbs and paved surfaces

Interior

• Kitchen: Kitchen located on the first floor (approx. 15 x 10); Includes dishwasher, disposal, microwave, range/oven, refrigerator
• Bedrooms: Primary bedroom on the first floor (approx. 14 x 10); Second bedroom on the second floor (approx. 15 x 12); Third bedroom on the second floor (approx. 9 wide)
• Bathrooms: Three total baths/lavatories; One full bathroom
• Interior features: Dishwasher; Disposal; Microwave; Range/Oven; Refrigerator; Full basement
• Laundry & utility: Laundry in the basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $176 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $139k).
• Recommended offer: $135k (3.0% below list) — sets the bar for market timing.

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: Kolb Elementary School (math 37% / reading 42%, grade F, #606 of 1,397 statewide, top 48%, 477 students, 72% 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 72% FRL vs 44% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 249 active listings in the ZIP; 39 units permitted in Bay County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $961 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($135k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $22k; list at $139k implies a 532% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $134,830 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 1.01% ✓
• Cap rate: 7.81%
• Cash-on-cash: 5.42%
• DSCR: 1.24
• GRM: 8.3

CMA / ARV

• ARV (median comp): $114,457
• List price: $139,000
• Delta: 21.44%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
400 Chilson Rd	0.14mi	4/2.5 (+1)	2,308 (-10%)	17mo	$25,000	$11	56
306 W Vermont St	0.44mi	4/2.5 (+1)	2,548 (-0%)	20mo	$118,500	$47	55
415 S Mountain St	0.39mi	3/2.0	2,935 (+15%)	3mo	$225,000	$77	54
300 S Columbian St	0.61mi	4/3.0 (+1)	2,698 (+6%)	4mo	$230,000	$85	50
305 N Catherine St	0.53mi	3/2.0	2,450 (-4%)	24mo	$147,000	$60	48
1012 S Wenona Ave	0.45mi	4/1.5 (+1)	2,320 (-9%)	12mo	$220,000	$95	46
400 Chilson Rd	0.56mi	4/2.5 (+1)	2,308 (-10%)	17mo	$25,000	$11	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: -7.9%
• Equity multiple: 0.71×
• Total profit: $-11,324
• Equity at exit: $20,725

10-year hold

• IRR: 1.7%
• Equity multiple: 1.12×
• Total profit: $4,568
• Equity at exit: $12,018

Cash invested: $38,920 (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 48706

• Active inventory: 249
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,400 medium
• Mortgage (P&I): −$729
• Tax from tax record: −$144 /mo · $1,723/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $176

Break-even live

Break-even rent $1,178

Max offer price $139,000

Occupancy floor 82%

Sensitivity live

Price	-10% $254	-5% $215	+0% $176	+5% $136	+10% $97
Rent	-10% $65	-5% $120	+0% $176	+5% $231	+10% $286
Rate	-1.0pp $246	-0.5pp $211	base $176	+0.5pp $140	+1.0pp $103

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-17
   status $139,000 Pending 34 DOM
2. 2026-06-16
   days on market $139,000 Active 34 DOM
3. 2026-06-15
   days on market $139,000 Active 33 DOM
4. 2026-06-14
   days on market $139,000 Active 31 DOM
5. 2026-06-12
   days on market $139,000 Active 30 DOM
6. 2026-06-09
   days on market $139,000 Active 27 DOM
7. 2026-06-08
   days on market $139,000 Active 26 DOM
8. 2026-06-07
   days on market $139,000 Active 25 DOM
9. 2026-06-05
   days on market $139,000 Active 22 DOM
10. 2026-06-03
    pricedays on market $139,000 Active 21 DOM
11. 2026-06-02
    days on market $149,000 Active 20 DOM
12. 2026-06-01
    days on market $149,000 Active 19 DOM
13. 2026-05-31
    days on market $149,000 Active 18 DOM
14. 2026-05-30
    days on market $149,000 Active 17 DOM
15. 2026-05-13
    listed $149,000 Active 587-char remark
16. 2015-10-28
    soldstatus $22,000

ⓘ 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: $1,723 · $144/mo
• Projected year-2 tax: $1,932 · $161/mo
• Expected delta: +$209/yr (+$17/mo · 12.1%)

ⓘ 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 ≥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: $16,803
• − Mortgage interest: −$7,786
• − Property taxes: −$1,723
• − Insurance: −$695
• − Repairs & maintenance: −$1,344
• − Management: −$1,344
• − Depreciation: −$4,044
• Taxable loss: −$133
• Est. tax savings @ 24.0%: +$32
• After-tax cash flow: $2,142/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
• City population: 25,635
• Population (ZIP): 38,756

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 (90%)
• Race & ethnicity: White 90% Hispanic / Latino 5% Two or more races 4%
• Common ancestry: Romanian 16% Lithuanian 9% Slovak 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 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: ▼ -133.29%
• Current HPI: 203.6444
• 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

+531.8% since first listed

4 events — show timeline

• 2026-06-17 Pending — MiRealSource-MiMLS
• 2026-06-04 Price Changed $139,000 MiRealSource-MiMLS
• 2026-05-13 Listed $149,000 MiRealSource-MiMLS
• 2015-10-28 Sold (Public Records) $22,000 Public Records

Property tax history

-2.7%/yr

Latest (2025): $1,723 · +14.6% YoY. Source: county tax records.