8705 E James St · Morley, MI 49349

$114,900

2 bd · 2.0 ba · 1,220 sqft · SingleFamily · 79 Days on market

Built 1940 5,480 sqft lot $94/sqft · 30% below area Est $164k · 30% under ↓ 4% since listing

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Why this score? — see what drove the B- 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 +27.0/30.0
• ARV discount +15.0/15.0
• DSCR +9.3/10.0
• 1% rule +6.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 bed 2 bath cottage close to Newaygo State Park and the Muskegon River/Hardy Dam Pond. Tons of upside on this fixer upper. Seller looking for cash offers but would consider a conventional offer. Property is winterized and no utilities are currently on. The house features a relatively open layout and a detached oversized 1 stall garage. It sits on a slab and has wall heaters along with hard lined gas fireplaces. Amazing opportunity to join a local dock association that is just steps away to keep your boat on the Muskegon River/Hardy Dam frontage.

Key facts

• Hardy dam pond
• Open layout
• Muskegon river

Tags

• NEWAYGO STATE PARK
• MUSKEGON RIVER
• HARDY DAM POND
• DETACHED OVERSIZED GARAGE
• OPEN LAYOUT
• HARD LINED GAS FIREPLACES

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $322 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $108k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#586 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• White Cloud Public Schools (rural): math 17% / reading 32% proficiency, ranked #436 of 540 in MI (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 81 active listings in the ZIP; 155 units permitted in Newaygo County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $794 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Newaygo 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

• It's been on market 79 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,006 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.10% ✓
• Cap rate: 9.66%
• Cash-on-cash: 12.02%
• DSCR: 1.53
• GRM: 7.6

CMA / ARV

• ARV (median comp): $163,983
• List price: $114,900
• Delta: -29.93%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1653 S Beech Ave	0.11mi	3/1.0 (+1)	1,270 (+4%)	0mo	$265,000	$209	79

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: 1.5%
• Equity multiple: 1.06×
• Total profit: $1,859
• Equity at exit: $17,132

10-year hold

• IRR: 11.1%
• Equity multiple: 1.87×
• Total profit: $27,838
• Equity at exit: $9,934

Cash invested: $32,172 (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 49349

• Home prices YoY: -14.1%
• Active inventory: 81
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,264 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$26 /mo · $306/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $322

Break-even live

Break-even rent $856

Max offer price $114,900

Occupancy floor 69%

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $114,900 Active 79 DOM
2. 2026-06-18
   days on market $114,900 Active 78 DOM
3. 2026-06-17
   days on market $114,900 Active 77 DOM
4. 2026-06-16
   days on market $114,900 Active 76 DOM
5. 2026-06-15
   days on market $114,900 Active 75 DOM
6. 2026-06-14
   days on market $114,900 Active 73 DOM
7. 2026-06-12
   days on market $114,900 Active 72 DOM
8. 2026-06-09
   days on market $114,900 Active 69 DOM
9. 2026-06-08
   days on market $114,900 Active 68 DOM
10. 2026-06-07
    days on market $114,900 Active 67 DOM
11. 2026-06-07
    days on market $114,900 Active 66 DOM
12. 2026-06-04
    days on market $114,900 Active 63 DOM
13. 2026-06-02
    days on market $114,900 Active 62 DOM
14. 2026-06-01
    days on market $114,900 Active 61 DOM
15. 2026-05-31
    days on market $114,900 Active 60 DOM
16. 2026-05-31
    days on market $114,900 Active 59 DOM
17. 2026-04-11
    price $114,900 552-char remark

    Show marketing remark (552 chars)

    2 bed 2 bath cottage close to Newaygo State Park and the Muskegon River/Hardy Dam Pond. Tons of upside on this fixer upper. Seller looking for cash offers but would consider a conventional offer. Property is winterized and no utilities are currently on. The house features a relatively open layout and a detached oversized 1 stall garage. It sits on a slab and has wall heaters along with hard lined gas fireplaces. Amazing opportunity to join a local dock association that is just steps away to keep your boat on the Muskegon River/Hardy Dam frontage.

18. 2026-04-10
    price $114,900 552-char remark

    Show marketing remark (552 chars)

    2 bed 2 bath cottage close to Newaygo State Park and the Muskegon River/Hardy Dam Pond. Tons of upside on this fixer upper. Seller looking for cash offers but would consider a conventional offer. Property is winterized and no utilities are currently on. The house features a relatively open layout and a detached oversized 1 stall garage. It sits on a slab and has wall heaters along with hard lined gas fireplaces. Amazing opportunity to join a local dock association that is just steps away to keep your boat on the Muskegon River/Hardy Dam frontage.

19. 2026-04-10
    price $114,900

    Show marketing remark (552 chars)

    2 bed 2 bath cottage close to Newaygo State Park and the Muskegon River/Hardy Dam Pond. Tons of upside on this fixer upper. Seller looking for cash offers but would consider a conventional offer. Property is winterized and no utilities are currently on. The house features a relatively open layout and a detached oversized 1 stall garage. It sits on a slab and has wall heaters along with hard lined gas fireplaces. Amazing opportunity to join a local dock association that is just steps away to keep your boat on the Muskegon River/Hardy Dam frontage.

20. 2026-04-01
    listed $119,900 Active 552-char remark

    Show marketing remark (552 chars)

    2 bed 2 bath cottage close to Newaygo State Park and the Muskegon River/Hardy Dam Pond. Tons of upside on this fixer upper. Seller looking for cash offers but would consider a conventional offer. Property is winterized and no utilities are currently on. The house features a relatively open layout and a detached oversized 1 stall garage. It sits on a slab and has wall heaters along with hard lined gas fireplaces. Amazing opportunity to join a local dock association that is just steps away to keep your boat on the Muskegon River/Hardy Dam frontage.

21. 2026-04-01
    listed $119,900 Active 552-char remark

    Show marketing remark (552 chars)

    2 bed 2 bath cottage close to Newaygo State Park and the Muskegon River/Hardy Dam Pond. Tons of upside on this fixer upper. Seller looking for cash offers but would consider a conventional offer. Property is winterized and no utilities are currently on. The house features a relatively open layout and a detached oversized 1 stall garage. It sits on a slab and has wall heaters along with hard lined gas fireplaces. Amazing opportunity to join a local dock association that is just steps away to keep your boat on the Muskegon River/Hardy Dam frontage.

22. 2026-04-01
    listed $119,900 Active

    Show marketing remark (552 chars)

    2 bed 2 bath cottage close to Newaygo State Park and the Muskegon River/Hardy Dam Pond. Tons of upside on this fixer upper. Seller looking for cash offers but would consider a conventional offer. Property is winterized and no utilities are currently on. The house features a relatively open layout and a detached oversized 1 stall garage. It sits on a slab and has wall heaters along with hard lined gas fireplaces. Amazing opportunity to join a local dock association that is just steps away to keep your boat on the Muskegon River/Hardy Dam frontage.

ⓘ 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: $306 · $26/mo
• Projected year-2 tax: $1,038 · $86/mo
• Expected delta: +$732/yr (+$61/mo · 239.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 66% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,164
• − Mortgage interest: −$6,436
• − Property taxes: −$306
• − Insurance: −$574
• − Repairs & maintenance: −$1,213
• − Management: −$1,213
• − Depreciation: −$3,343
• Taxable income: $2,078
• Est. tax owed @ 24.0%: −$499
• After-tax cash flow: $3,369/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: White Cloud Public Schools
• NCES district ID: 2636060
• Math proficiency: 17% ▼ -6.00%
• Reading proficiency: 32% ▲ 1.00%
• Median HH income: $37,178
• Composite: 20.36/100
• National rank: #8601
• State rank: #436 of 540 in MI

Livability — Morley

• Score: 60/100
• State rank: #586
• US rank: #19006

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 8,059

Population outlook (Newaygo County) Hauer SSP2

• Today (2025): 46,371 people
• By 2030: 44,879 · -3.2%
• By 2040: 41,107 · -11.4%
• By 2050: 36,800 · -20.6%
• By 2075: 27,507 · -40.7%
• By 2100: 18,600 · -59.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 6% Hispanic / Latino 4% Black 1%
• Common ancestry: Iranian 9% Romanian 4% Lithuanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · German/W. Germanic 2% Spanish 2%

Political lean MEDSL · Newaygo

• 2024 margin: Solid R (+42.8) · D 27.9% · R 70.7% · Other 1.5%
• 2008→2024 swing: -38.2pp toward R · 2008: -4.6pp · 2024: -42.8pp
• All cycles: 2024: R+42.8 2020: R+40.4 2016: R+39.6 2012: R+17.4 2008: R+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -44.33%
• Current HPI: 270.7935
• 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

-4.2% since first listed

6 events — show timeline

• 2026-04-11 Price Changed $114,900 MiRealSource-MiMLS
• 2026-04-10 Price Changed $114,900 REALCOMP
• 2026-04-10 Price Changed $114,900 SW Michigan MLS
• 2026-04-01 Listed $119,900 SW Michigan MLS
• 2026-04-01 Listed $119,900 REALCOMP
• 2026-04-01 Listed $119,900 MiRealSource-MiMLS

Property tax history

-6.7%/yr

Latest (2025): $306 · -66.0% YoY. Source: county tax records.