2110 Tennessee St · Midland, MI 48642

$179,900

2 bd · 1.0 ba · 1,525 sqft · SingleFamily public records

Built 1947 7,405 sqft lot Est $214k · 16% 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).

• ARV discount +14.6/15.0
• Cash flow +13.6/30.0
• Schools +4.9/10.0
• Livability +4.2/5.0
• DSCR +4.1/10.0
• 1% rule +3.7/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 1.5-story bungalow offering character, warmth, and flexible living space on a quiet neighborhood street that was repaved in recent years. The main floor features a large rear room currently used by the sellers as a primary bedroom with a separate entry, bay window, wood-hewn beams, barn siding wainscoting, and a brick hearth ready for a stove or wood-burning device with chimney access already in place. With its size and character, this versatile space could also serve as a cozy family room, gathering area, recreation room, or additional flex space depending on your needs. Just outside is a sitting room/flex space with reconditioned wood flooring that is ideal for an office, reading area, hobby space, nursery, or dressing room. Reconditioned wood floors run through the living room, kitchen, sitting room, and additional main floor bedroom, while the rear room features carpet for added comfort. Upstairs offers a unique knotty pine retreat complete with built-in bed frames, dresser storage, cabinets, shelving, and newer carpet — creating a cabin-like atmosphere full of character and nostalgia. The sliding door leads to a covered porch with composite decking overlooking the fenced backyard, offering a comfortable space to relax, entertain, or enjoy quiet evenings outdoors. Outside you’ll also find a detached 2.5-car garage and a large storage shed for additional storage and workspace. Appliances included are the refrigerator, stove/range, portable dishwasher, washer, and dryer. The basement provides abundant storage space along with an exterior access door. Additional updates include a roof approximately 4 years old, carpet approximately 3 years old, and new kitchen cabinet hardware.

Key facts

• 7,405 sq ft lot
• 2 garage spots
• Built 1947

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $10 ($119/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $156k (13.0% below list).
• Recommended offer: $156k (13.0% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 4.4% in Midland — 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 85/100 on livability (#28 in MI, #578 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: commute F.
• Midland Public Schools (urban): math 49% / reading 64% proficiency, ranked #62 of 540 in MI (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents flat; 95 active listings in the ZIP; solid renter incomes; 320 units permitted in Midland County in 2024 (204 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 $5k of value loss. Plan a longer hold.
• Midland County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 8y 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 $80k; list at $180k implies a 125% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $156,465 (13.0% below list)

Questions for the listing agent

1. Built in 1947 — 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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: 0.87% ✗
• Cap rate: 6.36%
• Cash-on-cash: 0.24%
• DSCR: 1.01
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $213,500
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
717 E Haley St	0.55mi	2/1.0	1,498 (-2%)	3mo	$150,000	$100	69
1824 E Ashman St	0.65mi	3/2.0 (+1)	1,704 (+12%)	7mo	$241,500	$142	35
1318 E Ashman St	0.65mi	3/1.0 (+1)	1,368 (-10%)	15mo	$163,930	$120	35
1020 Wyllys St	0.67mi	2/2.0	1,328 (-13%)	11mo	$195,000	$147	34
2301 Carol Ct	0.74mi	3/2.0 (+1)	1,673 (+10%)	14mo	$234,073	$140	29
1904 Wyllys St	0.61mi	3/2.5 (+1)	1,691 (+11%)	23mo	$205,000	$121	23

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 · 0.6% rent growth · sell at horizon

5-year hold

• IRR: -18.6%
• Equity multiple: 0.36×
• Total profit: $-32,195
• Equity at exit: $26,824

10-year hold

• IRR: -16.6%
• Equity multiple: 0.17×
• Total profit: $-41,597
• Equity at exit: $15,554

Cash invested: $50,372 (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 48642

• Home prices YoY: -31.4%
• Rents YoY: 0.6%
• Active inventory: 95
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,565 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$208 /mo · $2,493/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$329
• Net cashflow: $10

Break-even live

Break-even rent $1,552

Max offer price $179,900

Occupancy floor 94%

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-13
   remarks 699-char remark
2. 2026-06-13
   listed $179,900 Pending

ⓘ 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: $2,493 · $208/mo
• Projected year-2 tax: $2,632 · $219/mo
• Expected delta: +$139/yr (+$12/mo · 5.6%)

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

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 · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,776
• − Mortgage interest: −$10,077
• − Property taxes: −$2,493
• − Insurance: −$900
• − Repairs & maintenance: −$1,502
• − Management: −$1,502
• − Depreciation: −$5,233
• Taxable loss: −$2,932
• Est. tax savings @ 24.0%: +$704
• After-tax cash flow: $823/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: Midland Public Schools
• NCES district ID: 2623820
• Math proficiency: 49% ▼ -6.00%
• Reading proficiency: 64% ▼ -3.00%
• Median HH income: $55,844
• Composite: 48.67/100
• National rank: #2105
• State rank: #62 of 540 in MI

Livability — Midland

• Score: 85/100
• State rank: #28
• US rank: #578

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Midland, MI
• County: Midland County · 66,531 people
• City population: 66,531
• Metro: Midland, MI
• Population (ZIP): 34,039
• Household income: $77,847
• Rent vs Own: 25.3% rent · 74.7% own
• Severe rent burden: 935.0

Population outlook (Midland County) Hauer SSP2

• Today (2025): 83,968 people
• By 2030: 83,368 · -0.7%
• By 2040: 80,713 · -3.9%
• By 2050: 76,698 · -8.7%
• By 2075: 67,617 · -19.5%
• By 2100: 57,529 · -31.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 4% Asian 4% Two or more races 3% Black 2%
• Common ancestry: Romanian 8% Lithuanian 5% Italian 3%
• Foreign-born: 5% · Canada, China, Vietnam
• Languages at home: 95% English-only · Other Indo-European 1% Spanish 1% Chinese 1%

Political lean MEDSL · Midland

• 2024 margin: R (+15.2) · D 41.6% · R 56.8% · Other 1.6%
• 2008→2024 swing: -11.6pp toward R · 2008: -3.6pp · 2024: -15.2pp
• All cycles: 2024: R+15.2 2020: R+14.6 2016: R+19.4 2012: R+15.5 2008: R+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -87.89%
• Current HPI: 192.0812
• Rent YoY: ▲ 0.60%
• Metro: Midland, MI
• 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

+82.6% since first listed

7 events — show timeline

• 2026-05-24 Listing Removed — REALCOMP
• 2026-05-24 Listing Removed — MiRealSource-MiMLS
• 2026-05-18 Listed $179,900 REALCOMP
• 2026-05-18 Listed $179,900 MiRealSource-MiMLS
• 2021-10-11 Sold (Public Records) $80,000 Public Records
• 2019-02-11 Listing Removed — MiRealSource-MiMLS
• 2018-08-10 Listed $98,500 MiRealSource-MiMLS

Property tax history

+4.6%/yr

Latest (2024): $2,493 · +4.9% YoY. Source: county tax records.