413 E Madison St · Hastings, MI 49058

$215,000

4 bd · 1.0 ba · 1,547 sqft · SingleFamily public records · 29 Days on market

Built 1900 8,712 sqft lot Est $240k · 10% under

---

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 +25.3/30.0
• ARV discount +12.2/15.0
• DSCR +8.3/10.0
• 1% rule +6.6/10.0
• Livability +4.0/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 413 E Madison St in the heart of Hastings! This charming home offers comfort and peace of mind with a newer furnace and durable metal roof. Step inside to find inviting living spaces filled with natural light, a functional kitchen, and cozy bedrooms perfect for relaxing after a long day. Featuring mature fruit trees and spacious yard for outdoor gatherings or additional gardening. Conveniently located near parks, schools, and downtown amenities--this home combines affordability, updates, and small-town charm. Don't miss your chance to make it yours!

Key facts

• Spacious yard
• Near schools
• Metal roof

Tags

• NEWER FURNACE
• METAL ROOF
• MATURE FRUIT TREES
• SPACIOUS YARD
• NEAR PARKS
• NEAR SCHOOLS

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $485 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $215k).
• Recommended offer: $212k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 4.0% in Hastings — 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 79/100 on livability (#95 in MI, #2,201 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: schools C-, employment D, commute F.
• Hastings Area School District (town): math 33% / reading 48% proficiency, ranked #203 of 540 in MI (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 136 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 171 units permitted in Barry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Barry County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 30 sale attempts since 32y 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.
• Current owner paid $121k; list at $215k implies a 78% 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 $211,775 (1.5% below list)

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. 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: 1.16% ✓
• Cap rate: 9.00%
• Cash-on-cash: 9.67%
• DSCR: 1.43
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $239,785
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
312 E Clinton St	0.12mi	4/1.5	1,472 (-5%)	5mo	$275,000	$187	80
420 E Bond St	0.04mi	4/2.0	1,662 (+7%)	2mo	$269,900	$162	80
619 S Hayes St	0.30mi	4/1.5	1,628 (+5%)	6mo	$195,000	$120	70
428 W Walnut St	0.55mi	4/2.5	1,561 (+1%)	2mo	$184,900	$118	65
310 S Dibble St	0.29mi	3/2.0 (-1)	1,673 (+8%)	2mo	$259,000	$155	63
629 S Jefferson St	0.24mi	3/2.0 (-1)	1,712 (+11%)	0mo	$196,000	$114	62
520 E Thorn St	0.61mi	3/2.0 (-1)	1,608 (+4%)	2mo	$192,500	$120	54
128 E Grand St	0.22mi	3/2.0 (-1)	1,316 (-15%)	3mo	$230,000	$175	53
711 Howard Ln	0.49mi	4/2.0	1,368 (-12%)	3mo	$285,000	$208	51
112 E Green St	0.31mi	3/2.0 (-1)	1,348 (-13%)	5mo	$205,000	$152	51
720 W Bond St	0.75mi	3/1.0 (-1)	1,464 (-5%)	4mo	$289,900	$198	48
625 W Clinton St	0.69mi	3/1.5 (-1)	1,766 (+14%)	1mo	$240,000	$136	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: -1.7%
• Equity multiple: 0.94×
• Total profit: $-3,897
• Equity at exit: $32,057

10-year hold

• IRR: 8.0%
• Equity multiple: 1.61×
• Total profit: $36,555
• Equity at exit: $18,589

Cash invested: $60,200 (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 49058

• Active inventory: 136
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,495 medium
• Mortgage (P&I): −$1,127
• Tax est. 1.5%: −$269 /mo · $3,225/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$524
• Net cashflow: $485

Break-even live

Break-even rent $1,881

Max offer price $215,000

Occupancy floor 76%

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
634 E North St Hastings, MI	3.0	2.5	1840	$2,495	$1.36	3d	1	1.45mi

Listing history 50 events

1. 2026-04-22
   status Pending 566-char remark

   Show marketing remark (566 chars)

   Welcome to 413 E Madison St in the heart of Hastings! This charming home offers comfort and peace of mind with a newer furnace and durable metal roof. Step inside to find inviting living spaces filled with natural light, a functional kitchen, and cozy bedrooms perfect for relaxing after a long day. Featuring mature fruit trees and spacious yard for outdoor gatherings or additional gardening. Conveniently located near parks, schools, and downtown amenities--this home combines affordability, updates, and small-town charm. Don't miss your chance to make it yours!

2. 2026-04-22
   status Pending 566-char remark

   Show marketing remark (566 chars)

   Welcome to 413 E Madison St in the heart of Hastings! This charming home offers comfort and peace of mind with a newer furnace and durable metal roof. Step inside to find inviting living spaces filled with natural light, a functional kitchen, and cozy bedrooms perfect for relaxing after a long day. Featuring mature fruit trees and spacious yard for outdoor gatherings or additional gardening. Conveniently located near parks, schools, and downtown amenities--this home combines affordability, updates, and small-town charm. Don't miss your chance to make it yours!

3. 2026-04-22
   status Pending

   Show marketing remark (566 chars)

   Welcome to 413 E Madison St in the heart of Hastings! This charming home offers comfort and peace of mind with a newer furnace and durable metal roof. Step inside to find inviting living spaces filled with natural light, a functional kitchen, and cozy bedrooms perfect for relaxing after a long day. Featuring mature fruit trees and spacious yard for outdoor gatherings or additional gardening. Conveniently located near parks, schools, and downtown amenities--this home combines affordability, updates, and small-town charm. Don't miss your chance to make it yours!

4. 2026-04-07
   status Active 566-char remark

   Show marketing remark (566 chars)

   Welcome to 413 E Madison St in the heart of Hastings! This charming home offers comfort and peace of mind with a newer furnace and durable metal roof. Step inside to find inviting living spaces filled with natural light, a functional kitchen, and cozy bedrooms perfect for relaxing after a long day. Featuring mature fruit trees and spacious yard for outdoor gatherings or additional gardening. Conveniently located near parks, schools, and downtown amenities--this home combines affordability, updates, and small-town charm. Don't miss your chance to make it yours!

5. 2026-04-07
   status Active 566-char remark

   Show marketing remark (566 chars)

   Welcome to 413 E Madison St in the heart of Hastings! This charming home offers comfort and peace of mind with a newer furnace and durable metal roof. Step inside to find inviting living spaces filled with natural light, a functional kitchen, and cozy bedrooms perfect for relaxing after a long day. Featuring mature fruit trees and spacious yard for outdoor gatherings or additional gardening. Conveniently located near parks, schools, and downtown amenities--this home combines affordability, updates, and small-town charm. Don't miss your chance to make it yours!

6. 2026-04-07
   status Active

   Show marketing remark (566 chars)

   Welcome to 413 E Madison St in the heart of Hastings! This charming home offers comfort and peace of mind with a newer furnace and durable metal roof. Step inside to find inviting living spaces filled with natural light, a functional kitchen, and cozy bedrooms perfect for relaxing after a long day. Featuring mature fruit trees and spacious yard for outdoor gatherings or additional gardening. Conveniently located near parks, schools, and downtown amenities--this home combines affordability, updates, and small-town charm. Don't miss your chance to make it yours!

7. 2026-03-30
   status Pending 566-char remark

   Show marketing remark (566 chars)

   Welcome to 413 E Madison St in the heart of Hastings! This charming home offers comfort and peace of mind with a newer furnace and durable metal roof. Step inside to find inviting living spaces filled with natural light, a functional kitchen, and cozy bedrooms perfect for relaxing after a long day. Featuring mature fruit trees and spacious yard for outdoor gatherings or additional gardening. Conveniently located near parks, schools, and downtown amenities--this home combines affordability, updates, and small-town charm. Don't miss your chance to make it yours!

8. 2026-03-30
   status Pending 566-char remark

   Show marketing remark (566 chars)

   Welcome to 413 E Madison St in the heart of Hastings! This charming home offers comfort and peace of mind with a newer furnace and durable metal roof. Step inside to find inviting living spaces filled with natural light, a functional kitchen, and cozy bedrooms perfect for relaxing after a long day. Featuring mature fruit trees and spacious yard for outdoor gatherings or additional gardening. Conveniently located near parks, schools, and downtown amenities--this home combines affordability, updates, and small-town charm. Don't miss your chance to make it yours!

9. 2026-03-30
   status Pending

   Show marketing remark (566 chars)

   Welcome to 413 E Madison St in the heart of Hastings! This charming home offers comfort and peace of mind with a newer furnace and durable metal roof. Step inside to find inviting living spaces filled with natural light, a functional kitchen, and cozy bedrooms perfect for relaxing after a long day. Featuring mature fruit trees and spacious yard for outdoor gatherings or additional gardening. Conveniently located near parks, schools, and downtown amenities--this home combines affordability, updates, and small-town charm. Don't miss your chance to make it yours!

10. 2026-03-18
    listed $215,000 Active 566-char remark

    Show marketing remark (566 chars)

    Welcome to 413 E Madison St in the heart of Hastings! This charming home offers comfort and peace of mind with a newer furnace and durable metal roof. Step inside to find inviting living spaces filled with natural light, a functional kitchen, and cozy bedrooms perfect for relaxing after a long day. Featuring mature fruit trees and spacious yard for outdoor gatherings or additional gardening. Conveniently located near parks, schools, and downtown amenities--this home combines affordability, updates, and small-town charm. Don't miss your chance to make it yours!

11. 2026-03-17
    listed $215,000 Active 566-char remark

    Show marketing remark (566 chars)

    Welcome to 413 E Madison St in the heart of Hastings! This charming home offers comfort and peace of mind with a newer furnace and durable metal roof. Step inside to find inviting living spaces filled with natural light, a functional kitchen, and cozy bedrooms perfect for relaxing after a long day. Featuring mature fruit trees and spacious yard for outdoor gatherings or additional gardening. Conveniently located near parks, schools, and downtown amenities--this home combines affordability, updates, and small-town charm. Don't miss your chance to make it yours!

12. 2026-03-17
    listed $215,000 Active

    Show marketing remark (566 chars)

    Welcome to 413 E Madison St in the heart of Hastings! This charming home offers comfort and peace of mind with a newer furnace and durable metal roof. Step inside to find inviting living spaces filled with natural light, a functional kitchen, and cozy bedrooms perfect for relaxing after a long day. Featuring mature fruit trees and spacious yard for outdoor gatherings or additional gardening. Conveniently located near parks, schools, and downtown amenities--this home combines affordability, updates, and small-town charm. Don't miss your chance to make it yours!

13. 2025-12-09
    historical
14. 2025-12-08
    historical
15. 2025-10-13
    listed $215,000 Active
16. 2025-10-12
    listed $215,000 Active
17. 2021-12-03
    soldstatus $121,000
18. 2015-04-27
    historical
19. 2015-04-27
    historical
20. 2015-04-27
    historical
21. 2015-04-27
    historical
22. 2015-04-27
    historical
23. 2009-05-07
    soldstatus $33,000
24. 2009-05-07
    soldstatus $33,000
25. 2009-04-08
    listed $49,900
26. 2009-04-08
    listed $49,900
27. 2009-04-08
    historical
28. 2009-01-08
    listed $64,500
29. 2009-01-08
    listed $64,500
30. 2008-12-16
    historical
31. 2008-09-16
    listed $67,800
32. 2008-09-16
    listed $67,800
33. 2004-08-13
    soldstatus $100,000
34. 2004-08-13
    soldstatus $100,000
35. 2004-08-13
    soldstatus $100,000
36. 2003-12-11
    historical
37. 2003-12-10
    listed $97,000
38. 2003-12-10
    listed $97,000
39. 2003-11-10
    listed $97,900
40. 2003-11-10
    listed $97,900
41. 2002-05-13
    soldstatus $87,500
42. 2002-05-13
    historical
43. 2002-05-13
    soldstatus $87,500
44. 2002-05-13
    historical
45. 2002-01-26
    listed $94,900
46. 2002-01-26
    listed $94,900
47. 2002-01-26
    listed $94,900
48. 2002-01-26
    listed $94,900
49. 2000-03-08
    soldstatus $43,000
50. 2000-03-08
    soldstatus $43,000

ⓘ 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 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: $29,940
• − Mortgage interest: −$12,043
• − Property taxes: −$3,225
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,395
• − Management: −$2,395
• − Depreciation: −$6,255
• Taxable income: $2,552
• Est. tax owed @ 24.0%: −$612
• After-tax cash flow: $5,210/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: Hastings Area School District
• NCES district ID: 2617970
• Math proficiency: 33% ▼ -5.00%
• Reading proficiency: 48% ▼ -2.00%
• Median HH income: $48,478
• Composite: 34.71/100
• National rank: #5137
• State rank: #203 of 540 in MI

Livability — Hastings

• Score: 79/100
• State rank: #95
• US rank: #2201

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hastings, MI
• City population: 19,513
• Population (ZIP): 19,513

Population outlook (Barry County) Hauer SSP2

• Today (2025): 59,601 people
• By 2030: 59,185 · -0.7%
• By 2040: 57,121 · -4.2%
• By 2050: 53,139 · -10.8%
• By 2075: 42,814 · -28.2%
• By 2100: 29,357 · -50.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Iranian 8% Romanian 3% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Barry

• 2024 margin: Solid R (+34.3) · D 32.1% · R 66.4% · Other 1.5%
• 2008→2024 swing: -24.6pp toward R · 2008: -9.8pp · 2024: -34.3pp
• All cycles: 2024: R+34.3 2020: R+32.5 2016: R+33.3 2012: R+18.1 2008: R+9.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -137.56%
• Current HPI: 224.6353
• 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

+306.4% since first listed

62 events — show timeline

• 2026-04-22 Pending — MiRealSource-MiMLS
• 2026-04-22 Pending — REALCOMP
• 2026-04-22 Pending — SW Michigan MLS
• 2026-04-07 Relisted — REALCOMP
• 2026-04-07 Relisted — MiRealSource-MiMLS
• 2026-04-07 Relisted — SW Michigan MLS
• 2026-03-30 Pending — MiRealSource-MiMLS
• 2026-03-30 Pending — REALCOMP
• 2026-03-30 Pending — SW Michigan MLS
• 2026-03-18 Listed $215,000 REALCOMP
• 2026-03-17 Listed $215,000 SW Michigan MLS
• 2026-03-17 Listed $215,000 MiRealSource-MiMLS
• 2025-12-09 Listing Removed — MiRealSource-MiMLS
• 2025-12-08 Listing Removed — REALCOMP
• 2025-10-13 Listed $215,000 REALCOMP
• 2025-10-12 Listed $215,000 MiRealSource-MiMLS
• 2021-12-03 Sold (Public Records) $121,000 Public Records
• 2015-04-27 Listing Removed — SW Michigan MLS
• 2015-04-27 Listing Removed — SW Michigan MLS
• 2015-04-27 Listing Removed — SW Michigan MLS
• 2015-04-27 Listing Removed — SW Michigan MLS
• 2015-04-27 Listing Removed — SW Michigan MLS
• 2009-05-07 Sold (MLS) $33,000 REALCOMP
• 2009-05-07 Sold (MLS) $33,000 SW Michigan MLS
• 2009-04-08 Listing Removed — REALCOMP
• 2009-04-08 Listed $49,900 REALCOMP
• 2009-04-08 Listed $49,900 SW Michigan MLS
• 2009-01-08 Listed $64,500 REALCOMP
• 2009-01-08 Listed $64,500 SW Michigan MLS
• 2008-12-16 Listing Removed — REALCOMP
• 2008-09-16 Listed $67,800 REALCOMP
• 2008-09-16 Listed $67,800 SW Michigan MLS
• 2004-08-13 Sold (Public Records) $100,000 Public Records
• 2004-08-13 Sold (MLS) $100,000 REALCOMP
• 2004-08-13 Sold (MLS) $100,000 SW Michigan MLS
• 2003-12-11 Listing Removed — REALCOMP
• 2003-12-10 Listed $97,000 REALCOMP
• 2003-12-10 Listed $97,000 SW Michigan MLS
• 2003-11-10 Listed $97,900 REALCOMP
• 2003-11-10 Listed $97,900 SW Michigan MLS
• 2002-05-13 Listing Removed — REALCOMP
• 2002-05-13 Sold (MLS) $87,500 REALCOMP
• 2002-05-13 Listing Removed — SW Michigan MLS
• 2002-05-13 Sold (MLS) $87,500 SW Michigan MLS
• 2002-01-26 Listed $94,900 REALCOMP
• 2002-01-26 Listed $94,900 REALCOMP
• 2002-01-26 Listed $94,900 SW Michigan MLS
• 2002-01-26 Listed $94,900 SW Michigan MLS
• 2000-03-08 Sold (MLS) $43,000 REALCOMP
• 2000-03-08 Sold (MLS) $43,000 SW Michigan MLS
• 1999-11-26 Listed $53,000 REALCOMP
• 1999-11-26 Listed $53,000 SW Michigan MLS
• 1999-08-25 Listing Removed — REALCOMP
• 1999-05-27 Listed $54,500 REALCOMP
• 1999-05-27 Listed $54,500 SW Michigan MLS
• 1996-08-01 Sold (MLS) $57,900 REALCOMP
• 1996-08-01 Sold (MLS) $57,900 SW Michigan MLS
• 1996-01-02 Listed $57,900 REALCOMP
• 1996-01-02 Listed $57,900 SW Michigan MLS
• 1994-05-20 Listed $52,900 REALCOMP
• 1994-05-20 Listing Removed — REALCOMP
• 1994-05-20 Listed $52,900 SW Michigan MLS