220 S 7th St · Freeland, MI 48623

$184,900

3 bd · 1.0 ba · 988 sqft · SingleFamily public records · 3 Days on market

Built 1972 0.27 ac lot Est $173k · 7% over

---

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 +24.0/30.0
• DSCR +7.7/10.0
• Schools +5.1/10.0
• 1% rule +5.0/10.0
• ARV discount +4.4/15.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Highest & Best by 6/12/26. Charming and well-maintained home, featuring an updated kitchen with tile floors, farmer's sink, Corian counters, and built-in table, plus a remodeled bath. Currently a 2-bedroom with potential to easily convert back to a 3-bedroom. Enjoy outdoor living with a fully fenced backyard, garden area, and large deck with cabana. The oversized 2.5-car garage includes a 25x10 lean-to and workbench, perfect for storage or hobbies. Finished basement offers a family room, wet bar, and additional bathroom. Major updates in the past 10 years include furnace, central air, water heater, vinyl siding, electrical box, sump pump, and bath remodel. Transferable Leaf Guard warranty adds extra value. Move-in ready in a highly desirable location!

Key facts

• Large deck
• Garden area
• Cabana

Tags

• UPDATED KITCHEN
• REMODELED BATH
• FULLY FENCED BACKYARD
• GARDEN AREA
• LARGE DECK
• CABANA

Property features AI

Finance

• Other: Publicly maintained road access; Zoned residential; Lot dimensions about 70 x 167 (0.27 acre)
• HOA & community: Homeowners association present

Exterior

• Parking: Detached garage with garage door opener; Garage provides approximately 2.5 car spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Brick and vinyl siding exterior
• Exterior features: Deck; Porch; Fenced yard; Cabana; Shed(s)

Interior

• Kitchen: Oven; Range; Refrigerator
• Bedrooms: Total of 6 rooms (includes bedrooms and living spaces)
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air; Ceiling fan(s)
• Interior features: Eat-in kitchen; Pantry; Partially finished basement with concrete floor
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $362 ($4k/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 $185k (0.2% below list).
• Recommended offer: $185k (0.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 72/100 on livability (#230 in MI) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Freeland Community School District (suburban): math 54% / reading 61% proficiency, ranked #46 of 540 in MI (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: 96 active listings in the ZIP; 154 units permitted in Saginaw 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 $6k of value loss. Plan a longer hold.
• Saginaw County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 27y 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 $96k; list at $185k implies a 93% gain — meaningful room to come down on a strong offer.

Recommended offer $184,600 (0.2% below list)

Questions for the listing agent

1. Built in 1972 — 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. 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.
4. 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.
5. 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: 1.00% ✗
• Cap rate: 8.64%
• Cash-on-cash: 8.39%
• DSCR: 1.37
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $172,900
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
225 Johnson St	0.47mi	3/1.0	960 (-3%)	9mo	$212,500	$221	66
205 N 4th St	0.26mi	3/1.0	1,096 (+11%)	8mo	$195,000	$178	63
315 S Second St	0.25mi	3/1.5	1,122 (+14%)	6mo	$150,000	$134	59
335 N Third St	0.35mi	2/1.0 (-1)	912 (-8%)	10mo	$165,000	$181	57
275 N Second St	0.35mi	3/1.5	1,080 (+9%)	10mo	$189,000	$175	57
175 N Fourth St	0.25mi	3/1.0	1,120 (+13%)	12mo	$165,000	$147	56
175 N Third St	0.29mi	3/1.0	1,064 (+8%)	23mo	$105,000	$99	54

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: -3.6%
• Equity multiple: 0.86×
• Total profit: $-6,999
• Equity at exit: $27,569

10-year hold

• IRR: 6.0%
• Equity multiple: 1.45×
• Total profit: $23,242
• Equity at exit: $15,987

Cash invested: $51,772 (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 48623

• Home prices YoY: -26.7%
• Active inventory: 96
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,846 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$50 /mo · $598/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $362

Break-even live

Break-even rent $1,388

Max offer price $184,900

Occupancy floor 75%

Sensitivity live

Price	-10% $467	-5% $414	+0% $362	+5% $310	+10% $257
Rent	-10% $216	-5% $289	+0% $362	+5% $435	+10% $508
Rate	-1.0pp $455	-0.5pp $409	base $362	+0.5pp $314	+1.0pp $265

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-15
   statusdays on market $184,900 Pending 3 DOM
2. 2026-06-14
   days on market $184,900 Active 2 DOM
3. 2026-06-12
   remarks 699-char remark
4. 2026-06-12
   listed $184,900 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: $598 · $50/mo
• Projected year-2 tax: $1,723 · $144/mo
• Expected delta: +$1,125/yr (+$94/mo · 188.2%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 10% 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: $22,152
• − Mortgage interest: −$10,357
• − Property taxes: −$598
• − Insurance: −$924
• − Repairs & maintenance: −$1,772
• − Management: −$1,772
• − Depreciation: −$5,379
• Taxable income: $1,349
• Est. tax owed @ 24.0%: −$324
• After-tax cash flow: $4,018/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: Freeland Community School District
• NCES district ID: 2615060
• Math proficiency: 54% ▼ -4.00%
• Reading proficiency: 61% ▼ -3.00%
• Median HH income: $70,875
• Composite: 50.98/100
• National rank: #1779
• State rank: #46 of 540 in MI

Livability — Freeland

• Score: 72/100
• State rank: #230
• US rank: #5824

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Freeland, MI
• City population: 15,126
• Population (ZIP): 15,126

Population outlook (Saginaw County) Hauer SSP2

• Today (2025): 180,568 people
• By 2030: 172,302 · -4.6%
• By 2040: 153,919 · -14.8%
• By 2050: 135,519 · -24.9%
• By 2075: 97,199 · -46.2%
• By 2100: 65,037 · -64.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 5% Black 5% Hispanic / Latino 3%
• Common ancestry: Romanian 11% Lithuanian 5% Slovak 2%
• Foreign-born: 0%
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Saginaw

• 2024 margin: Toss-up / Even · D 47.7% · R 51.0% · Other 1.4%
• 2008→2024 swing: -20.6pp toward R · 2008: 17.3pp · 2024: -3.3pp
• All cycles: 2024: R+3.3 2020: D+0.3 2016: R+1.1 2012: D+11.9 2008: D+17.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.02%
• Current HPI: 213.8908
• 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

+101.2% since first listed

6 events — show timeline

• 2026-06-11 Listed $184,900 REALCOMP
• 2026-06-11 Listed $184,900 MiRealSource-MiMLS
• 1999-09-08 Sold (Public Records) $95,600 Public Records
• 1999-06-07 Sold (Public Records) $89,000 Public Records
• 1999-05-24 Sold (MLS) $89,000 REALCOMP
• 1999-04-05 Listed $91,900 REALCOMP

Property tax history

-7.4%/yr

Latest (2025): $598 · -72.4% YoY. Source: county tax records.