800 Franklin St · Bay City, MI 48708

$69,900

2 bd · 1.0 ba · 880 sqft · SingleFamily public records · 7 Days on market

Built 1922 2,178 sqft lot $79/sqft · at area comps Est $62k · 12% 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• Livability +3.4/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +2.2/15.0
• Appreciation +0.0/10.0

Listing remarks

Affordable, adorable, and completely move-in ready—this charming 2-bedroom home offers comfort, efficiency, and smart updates throughout. Enjoy the convenience of first-floor laundry and in-floor heat powered by a brand-new boiler (2025), with a gas wall furnace available for supplemental heat if desired. Major improvements include a metal roof (approx. 10 years old), updated vinyl windows, new carpet, and updated electrical and plumbing. Outside, you’ll find a fully fenced backyard with a storage shed, covered front porch, and a brand-new sidewalk adding to the home’s curb appeal. The crawl space is accessible from an exterior entrance door and houses the mechanicals. The

Key facts

• Updated electrical
• Metal roof
• New carpet

Tags

• FIRST-FLOOR LAUNDRY
• IN-FLOOR HEAT
• METAL ROOF
• UPDATED VINYL WINDOWS
• NEW CARPET
• UPDATED ELECTRICAL

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sanitary sewer; Gas water heater; Natural gas service
• Home design: Single-story residential home; Built in 1922; Facing west (side of street: W)
• Construction: Vinyl siding exterior; Crawl space foundation; Structure built in 1922
• Exterior features: Fenced yard; Porch; Sidewalks; Property within city limits; Road frontage

Interior

• Kitchen: Kitchen on the first floor (approx. 13 x 11), ceramic flooring; Dishwasher; Range/Oven; Refrigerator
• Bedrooms: Two bedrooms on the first floor (approx. 13 x 8 and 10 x 8), carpeted
• Flooring: Carpet in bedrooms and living room; Vinyl in dining room; Ceramic in kitchen, bathroom, and laundry
• Bathrooms: One full bathroom on the main floor with ceramic flooring (approx. 13 x 8)
• Heating & cooling: Natural gas heating; Space heater; Radiant (in-floor) heat; Natural gas supplemental space heat / in-floor
• Interior features: Window treatments
• Laundry & utility: First-floor laundry room with ceramic flooring; Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $329 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($990 rent vs $70k).
• Cap rate 11.9% vs local median 5.5% 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: schools D+, amenities D, crime 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.
• Market conditions: 148 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $483 of loan paydown is wiped out by about $2k 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 $20k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 19y ago 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 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $69,900

Questions for the listing agent

1. Built in 1922 — 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: 1.42% ✓
• Cap rate: 11.94%
• Cash-on-cash: 20.15%
• DSCR: 1.90
• GRM: 5.9

CMA / ARV

• ARV (median comp): $62,500
• List price: $69,900
• Delta: 11.84%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
800 Franklin St	0.00mi	2/1.0	800 (-9%)	1mo	$63,000	$79	84
807 Fraser St	0.14mi	2/1.0	828 (-6%)	4mo	$42,500	$51	80
605 19th St	0.16mi	3/1.0 (+1)	930 (+6%)	1mo	$49,000	$53	78
714 S Madison St	0.31mi	3/1.0 (+1)	900 (+2%)	7mo	$100,000	$111	71
801 Wilson St	0.51mi	2/1.0	853 (-3%)	1mo	$114,900	$135	70
820 Michigan Ave	0.64mi	2/1.0	864 (-2%)	0mo	$42,500	$49	67
720 S Sherman St	0.63mi	2/1.0	920 (+4%)	2mo	$232,000	$252	61
610 15th St	0.36mi	3/1.0 (+1)	960 (+9%)	3mo	$107,000	$111	60
1204 S Monroe St	0.46mi	3/2.0 (+1)	864 (-2%)	8mo	$120,000	$139	60
806 15th St	0.44mi	2/1.0	770 (-12%)	2mo	$56,800	$74	56
809 28th St	0.52mi	2/1.0	960 (+9%)	6mo	$128,000	$133	56
217 S Vanburen St	0.62mi	3/1.5 (+1)	1,002 (+14%)	6mo	$10,000	$10	36

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: 12.3%
• Equity multiple: 1.49×
• Total profit: $9,606
• Equity at exit: $10,422

10-year hold

• IRR: 21.3%
• Equity multiple: 2.80×
• Total profit: $35,310
• Equity at exit: $6,044

Cash invested: $19,572 (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: 148
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $990 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$58 /mo · $697/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $329

Break-even live

Break-even rent $574

Max offer price $69,900

Occupancy floor 62%

Sensitivity live

Price	-10% $368	-5% $348	+0% $329	+5% $309	+10% $289
Rent	-10% $250	-5% $290	+0% $329	+5% $368	+10% $407
Rate	-1.0pp $364	-0.5pp $346	base $329	+0.5pp $311	+1.0pp $292

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
600 18th St Bay City, MI	2.0	1.0	1000	$950	$0.95	44d	1	0.18mi
403 Polk St Bay City, MI	2.0	1.0	748	$1,000	$1.34	44d	1	0.81mi
800 McKinley St Bay City, MI	2.0	1.0	796	$925	$1.16	44d	1	0.98mi
605 E Jane St Bay City, MI	1.0	1.0	754	$1,650	$2.19	44d	1	1.30mi

Listing history 4 events

1. 2026-05-08
   status Pending 983-char remark
2. 2026-04-30
   listed $69,900 Active 983-char remark
3. 2007-10-31
   historical
4. 2007-04-07
   listed $49,900

ⓘ 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: $697 · $58/mo
• Projected year-2 tax: $887 · $74/mo
• Expected delta: +$190/yr (+$16/mo · 27.2%)

ⓘ 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: $11,886
• − Mortgage interest: −$3,915
• − Property taxes: −$697
• − Insurance: −$350
• − Repairs & maintenance: −$951
• − Management: −$951
• − Depreciation: −$2,033
• Taxable income: $2,989
• Est. tax owed @ 24.0%: −$717
• After-tax cash flow: $3,227/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

+26.3% since first listed

5 events — show timeline

• 2026-05-27 Sold (MLS) $63,000 MiRealSource-MiMLS
• 2026-05-08 Pending — MiRealSource-MiMLS
• 2026-04-30 Listed $69,900 MiRealSource-MiMLS
• 2007-10-31 Listing Removed — MiRealSource-MiMLS
• 2007-04-07 Listed $49,900 MiRealSource-MiMLS

Property tax history

+2.0%/yr

Latest (2025): $697 · +24.5% YoY. Source: county tax records.