1109 Leng St · Bay City, MI 48706

$71,000

3 bd · 1.0 ba · 1,595 sqft · SingleFamily public records · 283 Days on market

Built 1920 4,791 sqft lot $45/sqft · 54% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 1600 Sq Ft, 4 Bedroom 2 Bath Home with a full basement. Newer Roof in 2023. Maintenance free vinyl exterior. Formely a 2 unit, nice set up for a family member to stay, private entrance. First floor Utility Room. Will make a good rental or Starter Home. Priced Well below SEV for Immediate Sale. Call or Text the Agent today.

Key facts

• Full basement
• Private entrance
• 4,791 sq ft lot

Tags

• FULL BASEMENT
• PRIVATE ENTRANCE
• FIRST FLOOR UTILITY ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $71k.

Deal economics

• At list price, monthly cash flow is $301 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $71k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.2% 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: 246 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $491 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

• It's been on market 283 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y ago; this cycle's ask has dropped $18k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $61k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; flood insurance adds $460/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $62,480 (12.0% below list)

Questions for the listing agent

1. It's been on market 283 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 2.36% ✓
• Cap rate: 19.16%
• Cash-on-cash: 45.95%
• DSCR: 3.04
• GRM: 3.5

CMA / ARV

• ARV (median comp): $153,865
• List price: $71,000
• Delta: -53.86%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1108 Marchand St	0.03mi	3/1.5	1,486 (-7%)	2mo	$155,000	$104	84
1215 Marchand St	0.12mi	3/1.5	1,752 (+10%)	1mo	$160,000	$91	75
1103 Bradfield St	0.11mi	4/2.0 (+1)	1,546 (-3%)	8mo	$130,000	$84	75
407 Ottawa St	0.18mi	3/1.5	1,458 (-9%)	1mo	$79,900	$55	74
107 Frank St	0.14mi	4/1.0 (+1)	1,479 (-7%)	9mo	$130,000	$88	69
402 Patterson Ave	0.31mi	3/2.0	1,438 (-10%)	1mo	$151,000	$105	64
1109 Lewis St	0.20mi	3/2.0	1,449 (-9%)	10mo	$161,125	$111	63
204 Elm St	0.60mi	3/2.0	1,520 (-5%)	1mo	$143,000	$94	59
406 E Murphy St	0.40mi	4/1.5 (+1)	1,448 (-9%)	1mo	$175,000	$121	58
710 Smith St	0.33mi	3/1.0	1,431 (-10%)	14mo	$100,000	$70	56
1211 Wellington St	0.38mi	3/2.0	1,375 (-14%)	13mo	$175,000	$127	44
307 Aplin St	0.59mi	2/1.0 (-1)	1,452 (-9%)	11mo	$120,000	$83	43

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: 10.2%
• Equity multiple: 1.40×
• Total profit: $8,004
• Equity at exit: $10,586

10-year hold

• IRR: 19.5%
• Equity multiple: 2.66×
• Total profit: $33,068
• Equity at exit: $6,139

Cash invested: $19,880 (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: 246
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,675 medium
• Mortgage (P&I): −$372
• Tax from tax record: −$160 /mo · $1,922/yr
• Insurance: −$30
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $301

Break-even live

Break-even rent $1,294

Max offer price $71,000

Occupancy floor 77%

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: $17,750
• Closing costs: $2,130
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1305 Washington Ave Bay City, MI	2.0	1.0	635	$1,675	$2.64	43d	1	0.94mi

Listing history 21 events

1. 2026-05-30
   statusdays on market $71,000 Pending 283 DOM
2. 2026-04-16
   price $71,000 333-char remark

   Show marketing remark (333 chars)

   Spacious 1600 Sq Ft, 4 Bedroom 2 Bath Home with a full basement. Newer Roof in 2023. Maintenance free vinyl exterior. Formely a 2 unit, nice set up for a family member to stay, private entrance. First floor Utility Room. Will make a good rental or Starter Home. Priced Well below SEV for Immediate Sale. Call or Text the Agent today.

3. 2026-03-24
   price $75,000 333-char remark

   Show marketing remark (333 chars)

   Spacious 1600 Sq Ft, 4 Bedroom 2 Bath Home with a full basement. Newer Roof in 2023. Maintenance free vinyl exterior. Formely a 2 unit, nice set up for a family member to stay, private entrance. First floor Utility Room. Will make a good rental or Starter Home. Priced Well below SEV for Immediate Sale. Call or Text the Agent today.

4. 2026-02-19
   price $79,000 333-char remark

   Show marketing remark (333 chars)

   Spacious 1600 Sq Ft, 4 Bedroom 2 Bath Home with a full basement. Newer Roof in 2023. Maintenance free vinyl exterior. Formely a 2 unit, nice set up for a family member to stay, private entrance. First floor Utility Room. Will make a good rental or Starter Home. Priced Well below SEV for Immediate Sale. Call or Text the Agent today.

5. 2025-08-19
   listed $89,000 Active 333-char remark

   Show marketing remark (333 chars)

   Spacious 1600 Sq Ft, 4 Bedroom 2 Bath Home with a full basement. Newer Roof in 2023. Maintenance free vinyl exterior. Formely a 2 unit, nice set up for a family member to stay, private entrance. First floor Utility Room. Will make a good rental or Starter Home. Priced Well below SEV for Immediate Sale. Call or Text the Agent today.

6. 2023-12-05
   soldstatus $61,000
7. 2023-11-14
   soldstatus $61,000 Closed 269-char remark

   Show marketing remark (269 chars)

   Handy Person Wanted. Some Carpet, Paint and TLC Needed. Nice opportunity for a Flipper or an affordable 4 bedroom 2 Bath Starter Home. Spacious rooms. Almost fenced yard. First floor utility room. Immediate Posession. Seller is a licensed real estate agent. Call today.

8. 2023-09-04
   status Pending 269-char remark

   Show marketing remark (269 chars)

   Handy Person Wanted. Some Carpet, Paint and TLC Needed. Nice opportunity for a Flipper or an affordable 4 bedroom 2 Bath Starter Home. Spacious rooms. Almost fenced yard. First floor utility room. Immediate Posession. Seller is a licensed real estate agent. Call today.

9. 2023-08-24
   price $60,000 269-char remark

   Show marketing remark (269 chars)

   Handy Person Wanted. Some Carpet, Paint and TLC Needed. Nice opportunity for a Flipper or an affordable 4 bedroom 2 Bath Starter Home. Spacious rooms. Almost fenced yard. First floor utility room. Immediate Posession. Seller is a licensed real estate agent. Call today.

10. 2023-08-11
    price $62,000 269-char remark

    Show marketing remark (269 chars)

    Handy Person Wanted. Some Carpet, Paint and TLC Needed. Nice opportunity for a Flipper or an affordable 4 bedroom 2 Bath Starter Home. Spacious rooms. Almost fenced yard. First floor utility room. Immediate Posession. Seller is a licensed real estate agent. Call today.

11. 2023-08-09
    price $64,000 269-char remark

    Show marketing remark (269 chars)

    Handy Person Wanted. Some Carpet, Paint and TLC Needed. Nice opportunity for a Flipper or an affordable 4 bedroom 2 Bath Starter Home. Spacious rooms. Almost fenced yard. First floor utility room. Immediate Posession. Seller is a licensed real estate agent. Call today.

12. 2023-07-23
    price $66,000 269-char remark

    Show marketing remark (269 chars)

    Handy Person Wanted. Some Carpet, Paint and TLC Needed. Nice opportunity for a Flipper or an affordable 4 bedroom 2 Bath Starter Home. Spacious rooms. Almost fenced yard. First floor utility room. Immediate Posession. Seller is a licensed real estate agent. Call today.

13. 2023-07-20
    price $67,000 269-char remark

    Show marketing remark (269 chars)

    Handy Person Wanted. Some Carpet, Paint and TLC Needed. Nice opportunity for a Flipper or an affordable 4 bedroom 2 Bath Starter Home. Spacious rooms. Almost fenced yard. First floor utility room. Immediate Posession. Seller is a licensed real estate agent. Call today.

14. 2023-07-12
    price $68,000 269-char remark

    Show marketing remark (269 chars)

    Handy Person Wanted. Some Carpet, Paint and TLC Needed. Nice opportunity for a Flipper or an affordable 4 bedroom 2 Bath Starter Home. Spacious rooms. Almost fenced yard. First floor utility room. Immediate Posession. Seller is a licensed real estate agent. Call today.

15. 2023-07-06
    price $69,000 269-char remark

    Show marketing remark (269 chars)

    Handy Person Wanted. Some Carpet, Paint and TLC Needed. Nice opportunity for a Flipper or an affordable 4 bedroom 2 Bath Starter Home. Spacious rooms. Almost fenced yard. First floor utility room. Immediate Posession. Seller is a licensed real estate agent. Call today.

16. 2023-06-30
    price $71,000 269-char remark

    Show marketing remark (269 chars)

    Handy Person Wanted. Some Carpet, Paint and TLC Needed. Nice opportunity for a Flipper or an affordable 4 bedroom 2 Bath Starter Home. Spacious rooms. Almost fenced yard. First floor utility room. Immediate Posession. Seller is a licensed real estate agent. Call today.

17. 2023-06-27
    price $73,000 269-char remark

    Show marketing remark (269 chars)

    Handy Person Wanted. Some Carpet, Paint and TLC Needed. Nice opportunity for a Flipper or an affordable 4 bedroom 2 Bath Starter Home. Spacious rooms. Almost fenced yard. First floor utility room. Immediate Posession. Seller is a licensed real estate agent. Call today.

18. 2023-06-23
    price $74,000 269-char remark

    Show marketing remark (269 chars)

    Handy Person Wanted. Some Carpet, Paint and TLC Needed. Nice opportunity for a Flipper or an affordable 4 bedroom 2 Bath Starter Home. Spacious rooms. Almost fenced yard. First floor utility room. Immediate Posession. Seller is a licensed real estate agent. Call today.

19. 2023-06-15
    listed $75,000 Active 269-char remark

    Show marketing remark (269 chars)

    Handy Person Wanted. Some Carpet, Paint and TLC Needed. Nice opportunity for a Flipper or an affordable 4 bedroom 2 Bath Starter Home. Spacious rooms. Almost fenced yard. First floor utility room. Immediate Posession. Seller is a licensed real estate agent. Call today.

20. 2018-04-25
    historical
21. 2007-04-02
    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: $1,922 · $160/mo
• Projected year-2 tax: $1,922 · $160/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone AE · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°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: $20,100
• − Mortgage interest: −$3,977
• − Property taxes: −$1,922
• − Insurance: −$5,880
• − Repairs & maintenance: −$1,608
• − Management: −$1,608
• − Depreciation: −$2,065
• Taxable income: $3,040
• Est. tax owed @ 24.0%: −$730
• After-tax cash flow: $2,880/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

+42.3% since first listed

20 events — show timeline

• 2026-04-16 Price Changed $71,000 MiRealSource-MiMLS
• 2026-03-24 Price Changed $75,000 MiRealSource-MiMLS
• 2026-02-19 Price Changed $79,000 MiRealSource-MiMLS
• 2025-08-19 Listed $89,000 MiRealSource-MiMLS
• 2023-12-05 Sold (Public Records) $61,000 Public Records
• 2023-11-14 Sold (MLS) $61,000 MiRealSource-MiMLS
• 2023-09-04 Pending — MiRealSource-MiMLS
• 2023-08-24 Price Changed $60,000 MiRealSource-MiMLS
• 2023-08-11 Price Changed $62,000 MiRealSource-MiMLS
• 2023-08-09 Price Changed $64,000 MiRealSource-MiMLS
• 2023-07-23 Price Changed $66,000 MiRealSource-MiMLS
• 2023-07-20 Price Changed $67,000 MiRealSource-MiMLS
• 2023-07-12 Price Changed $68,000 MiRealSource-MiMLS
• 2023-07-06 Price Changed $69,000 MiRealSource-MiMLS
• 2023-06-30 Price Changed $71,000 MiRealSource-MiMLS
• 2023-06-27 Price Changed $73,000 MiRealSource-MiMLS
• 2023-06-23 Price Changed $74,000 MiRealSource-MiMLS
• 2023-06-15 Listed $75,000 MiRealSource-MiMLS
• 2018-04-25 Listing Removed — MiRealSource-MiMLS
• 2007-04-02 Listed $49,900 MiRealSource-MiMLS

Property tax history

+4.6%/yr

Latest (2025): $1,922 · -15.2% YoY. Source: county tax records.