608 N Catherine St · Bay City, MI 48706

$109,900

4 bd · 1.0 ba · 1,087 sqft · SingleFamily public records · 9 Days on market

Built 1873 4,791 sqft lot Est $118k · 7% under

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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 +26.3/30.0
• ARV discount +10.8/15.0
• DSCR +8.9/10.0
• 1% rule +6.4/10.0
• 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

This home is simply full of character and charm!!! It is just cute, cute, cute!! 3 bedrooms, possibly 2 more in the basement. This home seems so much bigger when inside. This is a lovely home for a first-time home buyer! This house is well appointed with an excellent layout with your beautiful newer porch leading into the living room area, flowing into the dining room and into the kitchen then down to the basement and out the back! Fully fenced and appliances stay. This home would be a great investment property as well. Schedule your private showing today!

Key facts

• 4,791 sq ft lot
• Garage
• Built 1873

Property features AI

Exterior

• Parking: Detached garage (1 garage space) and additional parking for 3+ vehicles; Outbuilding: garage(s)
• Utilities: Public water; Public sanitary sewer; Natural gas heat
• Home design: Residential, 1-story structure; Built in 1873; Frontage along a road
• Construction: Block foundation; Basement; Aluminum siding
• Exterior features: Aluminum exterior; Fenced yard; Front porch; Street lighting; Property within city limits; Paved street frontage

Interior

• Kitchen: Main-level kitchen (approx. 14 x 12) with vinyl flooring
• Bedrooms: Three bedrooms on main level — two about 10 x 10, third about 7' wide; all bedrooms with vinyl flooring
• Flooring: Vinyl flooring throughout primary living areas and bedrooms; Ceramic flooring in the bathroom
• Bathrooms: One full bathroom on main level with ceramic flooring (approx. 10 x 6)
• Heating & cooling: Forced air heating; Wall/window air conditioning
• Interior features: 7 total rooms; Basement (block foundation) with approximately 500 sq ft finished
• Laundry & utility: Basement present (block basement)

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $283 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Cap rate 9.4% 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; 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 $760 of loan paydown is wiped out by about $3k 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 $31k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 22y 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 $68k; list at $110k implies a 62% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1873 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,900

Questions for the listing agent

1. Built in 1873 — 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: 1.14% ✓
• Cap rate: 9.38%
• Cash-on-cash: 11.03%
• DSCR: 1.49
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $118,483
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
809 N LINN St	0.19mi	3/1.5 (-1)	1,029 (-5%)	2mo	$92,500	$90	74
1004 N Williams St	0.35mi	4/1.0	1,020 (-6%)	4mo	$126,000	$124	70
402 State St	0.38mi	3/1.0 (-1)	1,000 (-8%)	3mo	$109,000	$109	62
1203 N Williams St	0.54mi	4/1.0	1,160 (+7%)	4mo	$175,000	$151	60
401 E Florence St	0.07mi	3/2.0 (-1)	1,248 (+15%)	4mo	$125,000	$100	60
300 W Smith St	0.68mi	3/1.0 (-1)	1,100 (+1%)	4mo	$147,000	$134	58
1115 Litchfield St	0.50mi	3/1.0 (-1)	1,012 (-7%)	3mo	$122,000	$121	58
202 Elm St	0.67mi	3/1.0 (-1)	1,040 (-4%)	1mo	$72,000	$69	56
214 S Warner St	0.63mi	3/1.0 (-1)	1,042 (-4%)	4mo	$113,000	$108	55
304 S Erie St	0.61mi	3/1.0 (-1)	1,011 (-7%)	3mo	$90,000	$89	52
705 Frost Dr	0.62mi	3/1.5 (-1)	960 (-12%)	0mo	$175,000	$182	44
306 W Smith St	0.68mi	3/1.5 (-1)	1,249 (+15%)	5mo	$130,000	$104	32

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: 0.2%
• Equity multiple: 1.01×
• Total profit: $190
• Equity at exit: $16,386

10-year hold

• IRR: 9.8%
• Equity multiple: 1.76×
• Total profit: $23,301
• Equity at exit: $9,502

Cash invested: $30,772 (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: 7.3×

Monthly cashflow live

• Estimated rent: $1,251 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$84 /mo · $1,002/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $283

Break-even live

Break-even rent $893

Max offer price $109,900

Occupancy floor 72%

Sensitivity live

Price	-10% $345	-5% $314	+0% $283	+5% $252	+10% $221
Rent	-10% $184	-5% $233	+0% $283	+5% $332	+10% $382
Rate	-1.0pp $338	-0.5pp $311	base $283	+0.5pp $254	+1.0pp $225

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-12
   statusdays on market $109,900 Pending 9 DOM
2. 2026-06-09
   days on market $109,900 Active 8 DOM
3. 2026-06-08
   days on market $109,900 Active 7 DOM
4. 2026-06-07
   days on market $109,900 Active 6 DOM
5. 2026-06-05
   days on market $109,900 Active 3 DOM
6. 2026-06-03
   days on market $109,900 Active 2 DOM
7. 2026-06-02
   remarks 562-char remark
8. 2026-06-02
   listed $109,900 Active 1 DOM

ⓘ 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: $1,002 · $84/mo
• Projected year-2 tax: $1,347 · $112/mo
• Expected delta: +$345/yr (+$29/mo · 34.4%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 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: $15,015
• − Mortgage interest: −$6,156
• − Property taxes: −$1,002
• − Insurance: −$550
• − Repairs & maintenance: −$1,201
• − Management: −$1,201
• − Depreciation: −$3,197
• Taxable income: $1,707
• Est. tax owed @ 24.0%: −$410
• After-tax cash flow: $2,984/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

+91.1% since first listed

7 events — show timeline

• 2026-06-01 Listed $109,900 MiRealSource-MiMLS
• 2007-08-22 Sold (Public Records) $68,000 Public Records
• 2007-08-22 Sold (MLS) $68,000 MiRealSource-MiMLS
• 2006-07-10 Listed $67,900 MiRealSource-MiMLS
• 2004-06-30 Sold (Public Records) $60,800 Public Records
• 2004-06-28 Sold (MLS) $60,800 MiRealSource-MiMLS
• 2004-05-01 Listed $57,500 MiRealSource-MiMLS

Property tax history

-0.3%/yr

Latest (2025): $1,002 · -15.2% YoY. Source: county tax records.