5500 85th Ave · Evart, MI 49631

$149,900

4 bd · 1.5 ba · 2,482 sqft · SingleFamily · 67 Days on market

Built 1900 0.50 ac lot $60/sqft · 12% below area Est $170k · 12% under

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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).

• ARV discount +12.8/15.0
• Cash flow +12.4/30.0
• DSCR +3.7/10.0
• Livability +3.6/5.0
• 1% rule +3.5/10.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 5500 85th Ave in Evart! This charming 4-bedroom, 1.5-bath home offers ample living space and a comfortable layout perfect for everyday living or a relaxing getaway. Inside, you'll find generously sized rooms with plenty of natural light, creating a warm and inviting atmosphere. The home features a covered porch-ideal for enjoying your morning coffee or unwinding in the evening. With its close proximity to Lake Lure, youll have easy access to outdoor recreation, including boating, fishing, and scenic views. This property combines space, location, and potential. Dont miss the opportunity to make it your own!

Key facts

• Covered porch
• 0.5 acre lot
• Built 1900

Tags

• COVERED PORCH
• CLOSE PROXIMITY TO LAKE LURE

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $-24 ($-293/yr) — negative.
• To cash-flow at today's rent, offer at most $146k (2.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (14.6% below list).
• Recommended offer: $128k (14.6% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.3% in Evart — 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 72/100 on livability (#262 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Evart Public Schools (rural): math 27% / reading 34% proficiency, ranked #367 of 540 in MI (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Evart Elementary School (math 42% / reading 37%, grade F, #606 of 1,397 statewide, top 48%, 353 students, 72% FRL); Evart Middle School (math 21% / reading 32%, grade F, #381 of 493 statewide, top 77%, 255 students, 76% FRL); Evart High School (math 24% / reading 44%, grade F, #372 of 713 statewide, top 56%, 281 students, 67% FRL).
• Market conditions: 89 active listings in the ZIP; 5 units permitted in Osceola 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 $4k of value loss. Plan a longer hold.
• Osceola County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 18 sale attempts since 20y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $128,036 (14.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. 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.
9. 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.
10. 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: 0.85% ✗
• Cap rate: 6.10%
• Cash-on-cash: -0.70%
• DSCR: 0.97
• GRM: 9.8

CMA / ARV

• ARV (median comp): $169,898
• List price: $149,900
• Delta: -11.77%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -17.4%
• Equity multiple: 0.38×
• Total profit: $-25,827
• Equity at exit: $22,351

10-year hold

• IRR: -9.4%
• Equity multiple: 0.42×
• Total profit: $-24,415
• Equity at exit: $12,961

Cash invested: $41,972 (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 49631

• Home prices YoY: -9.8%
• Active inventory: 89
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,280 medium
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $-24

Break-even live

Break-even rent $1,311

Max offer price $146,365

Occupancy floor 97%

Sensitivity live

Price	-10% $79	-5% $27	+0% $-24	+5% $-76	+10% $-128
Rent	-10% $-126	-5% $-75	+0% $-24	+5% $26	+10% $77
Rate	-1.0pp $51	-0.5pp $14	base $-24	+0.5pp $-63	+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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-22
   days on market $149,900 Active 67 DOM
2. 2026-06-21
   days on market $149,900 Active 66 DOM
3. 2026-06-19
   days on market $149,900 Active 64 DOM
4. 2026-06-18
   days on market $149,900 Active 63 DOM
5. 2026-06-17
   days on market $149,900 Active 62 DOM
6. 2026-06-16
   days on market $149,900 Active 61 DOM
7. 2026-06-15
   days on market $149,900 Active 60 DOM
8. 2026-06-14
   days on market $149,900 Active 58 DOM
9. 2026-06-12
   days on market $149,900 Active 57 DOM
10. 2026-06-09
    days on market $149,900 Active 54 DOM
11. 2026-06-08
    days on market $149,900 Active 53 DOM
12. 2026-06-07
    days on market $149,900 Active 52 DOM
13. 2026-06-05
    days on market $149,900 Active 50 DOM
14. 2026-06-04
    days on market $149,900 Active 48 DOM
15. 2026-06-02
    days on market $149,900 Active 47 DOM
16. 2026-06-01
    days on market $149,900 Active 46 DOM
17. 2026-05-31
    days on market $149,900 Active 45 DOM
18. 2026-05-31
    days on market $149,900 Active 44 DOM
19. 2026-04-16
    listed $159,900 Active 625-char remark

    Show marketing remark (625 chars)

    Welcome to 5500 85th Ave in Evart! This charming 4-bedroom, 1.5-bath home offers ample living space and a comfortable layout perfect for everyday living or a relaxing getaway. Inside, you'll find generously sized rooms with plenty of natural light, creating a warm and inviting atmosphere. The home features a covered porch-ideal for enjoying your morning coffee or unwinding in the evening. With its close proximity to Lake Lure, youll have easy access to outdoor recreation, including boating, fishing, and scenic views. This property combines space, location, and potential. Dont miss the opportunity to make it your own!

20. 2026-04-15
    listed $159,900 Active 683-char remark

    Show marketing remark (683 chars)

    Welcome to 5500 85th Ave in Evart! This charming 4-bedroom, 1.5-bath home offers ample living space and a comfortable layout perfect for everyday living or a relaxing getaway. Inside, you'll find generously sized rooms with plenty of natural light, creating a warm and inviting atmosphere. The home features a covered porch—ideal for enjoying your morning coffee or unwinding in the evening. With its close proximity to Lake Lure, you’ll have easy access to outdoor recreation, including boating, fishing, and scenic views. This property combines space, location, and potential. Don’t miss the opportunity to make it your own!

21. 2023-06-30
    soldstatus $180,000 Sold
22. 2023-06-30
    soldstatus $180,000 Sold
23. 2023-05-15
    status Pending
24. 2023-05-15
    status Pending
25. 2023-05-15
    status Pending
26. 2023-05-08
    historical Accepting Backup Offers
27. 2023-05-08
    historical Accepting Backup Offers
28. 2023-05-08
    historical Active - Backup Offers Accepted
29. 2023-05-02
    price $172,900
30. 2023-05-01
    price $172,900
31. 2023-05-01
    status Active
32. 2023-05-01
    status Active
33. 2023-05-01
    status Active
34. 2023-05-01
    price $172,900
35. 2023-04-24
    historical Accepting Backup Offers
36. 2023-04-24
    historical Accepting Backup Offers
37. 2023-04-24
    historical Active - Backup Offers Accepted
38. 2023-04-03
    listed $180,000 Active
39. 2023-04-03
    listed $180,000 Active
40. 2023-04-03
    listed $180,000 Active
41. 2022-03-23
    soldstatus $139,900 Sold
42. 2022-03-23
    soldstatus $139,900 Sold
43. 2022-02-11
    status Pending
44. 2022-02-11
    status Pending
45. 2022-01-15
    status Active
46. 2022-01-14
    status Active
47. 2021-12-01
    status Pending
48. 2021-12-01
    status Pending
49. 2021-11-01
    price $139,900
50. 2021-11-01
    price $139,900

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥94°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: $15,364
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$1,229
• − Management: −$1,229
• − Depreciation: −$4,361
• Taxable loss: −$2,849
• Est. tax savings @ 24.0%: +$684
• After-tax cash flow: $391/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: Evart Public Schools
• NCES district ID: 2613560
• Math proficiency: 27% ▲ 2.00%
• Reading proficiency: 34% ▬ 0.00%
• Median HH income: $37,734
• Composite: 25.42/100
• National rank: #7455
• State rank: #367 of 540 in MI

Livability — Evart

• Score: 72/100
• State rank: #262
• US rank: #6440

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,646

Population outlook (Osceola County) Hauer SSP2

• Today (2025): 21,724 people
• By 2030: 20,769 · -4.4%
• By 2040: 18,720 · -13.8%
• By 2050: 16,611 · -23.5%
• By 2075: 11,942 · -45.0%
• By 2100: 7,546 · -65.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Iranian 5% Romanian 4% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1% Tagalog/Filipino 0%

Political lean MEDSL · Osceola

• 2024 margin: Solid R (+47.9) · D 25.2% · R 73.1% · Other 1.7%
• 2008→2024 swing: -37.7pp toward R · 2008: -10.1pp · 2024: -47.9pp
• All cycles: 2024: R+47.9 2020: R+46.3 2016: R+43.7 2012: R+21.0 2008: R+10.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -30.25%
• Current HPI: 277.6004
• 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

+539.6% since first listed

47 events — show timeline

• 2026-04-16 Listed $159,900 REALCOMP
• 2026-04-15 Listed $159,900 MiRealSource-MiMLS
• 2023-06-30 Sold (MLS) $180,000 SW Michigan MLS
• 2023-06-30 Sold (MLS) $180,000 REALCOMP
• 2023-05-15 Pending — REALCOMP
• 2023-05-15 Pending — MiRealSource-MiMLS
• 2023-05-15 Pending — SW Michigan MLS
• 2023-05-08 Contingent — MiRealSource-MiMLS
• 2023-05-08 Contingent — REALCOMP
• 2023-05-08 Contingent — SW Michigan MLS
• 2023-05-02 Price Changed $172,900 MiRealSource-MiMLS
• 2023-05-01 Price Changed $172,900 REALCOMP
• 2023-05-01 Relisted — REALCOMP
• 2023-05-01 Relisted — MiRealSource-MiMLS
• 2023-05-01 Relisted — SW Michigan MLS
• 2023-05-01 Price Changed $172,900 SW Michigan MLS
• 2023-04-24 Contingent — MiRealSource-MiMLS
• 2023-04-24 Contingent — REALCOMP
• 2023-04-24 Contingent — SW Michigan MLS
• 2023-04-03 Listed $180,000 SW Michigan MLS
• 2023-04-03 Listed $180,000 MiRealSource-MiMLS
• 2023-04-03 Listed $180,000 REALCOMP
• 2022-03-23 Sold (MLS) $139,900 SW Michigan MLS
• 2022-03-23 Sold (MLS) $139,900 REALCOMP
• 2022-02-11 Pending — SW Michigan MLS
• 2022-02-11 Pending — REALCOMP
• 2022-01-15 Relisted — REALCOMP
• 2022-01-14 Relisted — SW Michigan MLS
• 2021-12-01 Pending — REALCOMP
• 2021-12-01 Pending — SW Michigan MLS
• 2021-11-01 Price Changed $139,900 REALCOMP
• 2021-11-01 Price Changed $139,900 SW Michigan MLS
• 2021-09-30 Listed $139,900 MiRealSource-MiMLS
• 2021-09-30 Listed $159,900 SW Michigan MLS
• 2021-09-30 Listed $159,900 REALCOMP
• 2010-10-27 Sold (Public Records) $14,500 Public Records
• 2010-10-27 Sold (MLS) $14,500 SW Michigan MLS
• 2010-10-27 Sold (MLS) $14,500 REALCOMP
• 2010-10-01 Sold (Public Records) $14,500 Public Records
• 2010-04-26 Listed $19,900 SW Michigan MLS
• 2010-04-26 Listed $19,900 REALCOMP
• 2009-04-10 Listing Removed — REALCOMP
• 2008-09-10 Listed $35,000 REALCOMP
• 2007-02-26 Sold (MLS) $23,000 REALCOMP
• 2007-02-26 Sold (MLS) $23,000 SW Michigan MLS
• 2006-08-11 Listed $25,000 REALCOMP
• 2006-08-11 Listed $25,000 SW Michigan MLS