613 S Wenona Ave · Bay City, MI 48706

$109,900

3 bd · 1.0 ba · 992 sqft · SingleFamily public records · 4 Days on market

Built 1920 6,534 sqft lot Est $107k · at est.

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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 +23.0/30.0
• DSCR +7.4/10.0
• ARV discount +6.3/15.0
• 1% rule +5.4/10.0
• 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

New on Wenona! This 2 bedroom, 1 bath home on Wenona Avenue is centrally located near churches, businesses and area homes. Freshly painted interior, hardwood flooring under carpet, full basement, detached 1 car garage, on a 50x100 lot. The home does need additional updating and some flooring, but is a perfect starter, retirement home or investment property.

Key facts

• 6,534 sq ft lot
• Garage
• Built 1920

Property features AI

Exterior

• Parking: Detached garage (14 x 22), 1 garage parking space; Additional on-street parking; 3+ total parking spaces indicated
• Utilities: Public water; Public sanitary sewer and storm sewer; Natural gas connected; Electricity connected; Cable available
• Home design: Residential, 1-story structure; Built in 1920; Basement present
• Construction: Wood exterior construction; Basement foundation
• Exterior features: Porch; Sidewalks; Street lights; Main street frontage; Platted lot; Within city limits

Interior

• Kitchen: Main-level kitchen (11 x 11); Range/oven; Refrigerator
• Bedrooms: Main-level primary bedroom (15 x 11) with Other floor covering; Main-level second bedroom (10 x 9) with carpet
• Flooring: Carpet in living room, dining room, sun room and one bedroom; Vinyl in kitchen and bathroom; Other floor covering in primary bedroom
• Bathrooms: One full bathroom on the main level (11 x 5) with vinyl flooring
• Heating & cooling: Natural gas heating; Baseboard and forced air heating; Gas water heater; Circuit breaker electric panel
• Interior features: 9+ foot ceilings; Breezeway; Formal dining room; Living room; Lower-level laundry
• Laundry & utility: Laundry room in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $196 ($2k/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 8.4% 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; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $45k; list at $110k implies a 144% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,900

Questions for the listing agent

1. Built in 1920 — 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: 1.04% ✓
• Cap rate: 8.43%
• Cash-on-cash: 7.64%
• DSCR: 1.34
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $107,136
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
613 S Wenona Ave	0.00mi	2/1.0 (-1)	992 (0%)	0mo	$92,000	$93	95
304 S Erie St	0.31mi	3/1.0	1,011 (+2%)	3mo	$90,000	$89	80
608 S Williams St	0.08mi	2/1.0 (-1)	943 (-5%)	5mo	$47,000	$50	79
604 S Barclay St	0.48mi	3/1.0	1,003 (+1%)	1mo	$127,000	$127	75
214 S Warner St	0.38mi	3/1.0	1,042 (+5%)	4mo	$113,000	$108	70
313 S Alp St	0.43mi	2/2.0 (-1)	981 (-1%)	1mo	$165,000	$168	68
707 Raymond St	0.21mi	2/1.5 (-1)	888 (-10%)	1mo	$150,000	$169	64
304 Main St	0.31mi	2/1.0 (-1)	891 (-10%)	2mo	$135,250	$152	62
104 W Ionia St	0.42mi	3/1.5	1,096 (+10%)	5mo	$106,000	$97	57
201 N Warner St	0.56mi	3/1.0	902 (-9%)	4mo	$95,000	$105	56
605 S Barclay St	0.45mi	3/1.0	850 (-14%)	1mo	$100,000	$118	55
1303 S Warner St	0.54mi	2/1.0 (-1)	922 (-7%)	5mo	$74,500	$81	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: -4.7%
• Equity multiple: 0.83×
• Total profit: $-5,347
• Equity at exit: $16,386

10-year hold

• IRR: 5.0%
• Equity multiple: 1.37×
• Total profit: $11,344
• 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: 8.0×

Monthly cashflow live

• Estimated rent: $1,139 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$82 /mo · $985/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $196

Break-even live

Break-even rent $891

Max offer price $109,900

Occupancy floor 78%

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: —

Rent comps 3 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	44d	1	1.06mi
600 18th St Bay City, MI	2.0	1.0	1000	$950	$0.95	44d	1	1.10mi
800 McKinley St Bay City, MI	2.0	1.0	796	$925	$1.16	44d	1	1.13mi

Listing history 3 events

1. 2026-04-10
   status Pending
2. 2026-04-06
   listed $109,900 Active
3. 2001-02-20
   soldstatus $45,000

ⓘ 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: $985 · $82/mo
• Projected year-2 tax: $1,339 · $112/mo
• Expected delta: +$354/yr (+$29/mo · 35.9%)

ⓘ 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 ≥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: $13,673
• − Mortgage interest: −$6,156
• − Property taxes: −$985
• − Insurance: −$550
• − Repairs & maintenance: −$1,094
• − Management: −$1,094
• − Depreciation: −$3,197
• Taxable income: $598
• Est. tax owed @ 24.0%: −$143
• After-tax cash flow: $2,208/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

+144.2% since first listed

3 events — show timeline

• 2026-04-10 Pending — MiRealSource-MiMLS
• 2026-04-06 Listed $109,900 MiRealSource-MiMLS
• 2001-02-20 Sold (Public Records) $45,000 Public Records

Property tax history

-0.1%/yr

Latest (2025): $985 · -15.2% YoY. Source: county tax records.