413 S Front St · Belding, MI 48809

$219,900

3 bd · 1.0 ba · 1,184 sqft · SingleFamily public records · 6 Days on market

Built 1900 0.39 ac lot $186/sqft · 12% above area Est $209k · 5% over

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Why this score? — see what drove the D 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).

• Appreciation +10.0/10.0
• Cash flow +9.9/30.0
• ARV discount +5.2/15.0
• Livability +3.7/5.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• 1% rule +2.0/10.0

Listing remarks MLS

Welcome home to 413 S Front St! This beautifully redesigned home has been completely renovated from top to bottom, offering a truly move-in ready experience. Every detail has been thoughtfully updated, including all new flooring, paint, fixtures, hardware, appliances, and finishes throughout the entire home. The brand-new kitchen was fully redesigned to maximize both style and functionality, creating a space that truly works with the layout of the home while offering a fresh, modern feel. From the moment you step inside, you'll notice the elevated design and inviting atmosphere. The welcoming entry features a functional office space, built-in coat and shoe bench, and cozy seating area. The bright and open main floor is filled with natural light from the large windows and includes one spacious bedroom, a fully renovated bathroom, and convenient laundry room. Upstairs, you'll find two additional generously sized bedrooms, also fully updated with new flooring, paint, and fixtures. Take a stroll through the spacious backyard. .. you don't come across homes with this lot size near the heart of Belding often, if ever. This home takes the stress out of moving by giving you the feeling that everything has already been done for you, because it has! All offers reviewed Tuesday May 19th at 10am.

Key facts

• Cozy seating area
• New kitchen
• New flooring

Tags

• COMPLETELY RENOVATED
• NEW FLOORING
• NEW KITCHEN
• FUNCTIONAL OFFICE SPACE
• BUILT-IN COAT AND SHOE BENCH
• COZY SEATING AREA

Property features AI

Exterior

• Utilities: Public water
• Home design: Traditional-style single family residence; Public water
• Construction: Built in 1900; Vinyl siding; Composition roof; Living area approximately 1,261
• Exterior features: Paved road access; Shed(s) on the property

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Seven total rooms; Replacement windows; Michigan-style basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-192 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $186k (15.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $154k (29.8% below list).
• Recommended offer: $154k (29.8% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 4.5% in Belding — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 74/100 on livability (#169 in MI, #4,436 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, amenities F, commute F.
• Belding Area School District (town): math 23% / reading 31% proficiency, ranked #398 of 540 in MI (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Ellis Elementary School (394 students, 59% FRL); Belding Middle School (math 20% / reading 34%, grade F, #372 of 493 statewide, top 77%, 325 students, 50% FRL); Belding High School (math 17% / reading 37%, grade F, #462 of 713 statewide, top 66%, 557 students, 48% FRL) — zoned schools at 53% FRL track the district average.
• Market conditions: 73 active listings in the ZIP; 94 units permitted in Ionia County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $24k of equity ($2k loan paydown + $22k appreciation (10.0% local appreciation)).
• Ionia County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 2, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $154,429 (29.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.70% ✗
• Cap rate: 5.55%
• Cash-on-cash: -2.67%
• DSCR: 0.88
• GRM: 11.9

CMA / ARV

• ARV (median comp): $209,119
• List price: $219,900
• Delta: 5.16%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
807 S Pearl St	0.27mi	3/1.5	1,160 (-2%)	4mo	$187,000	$161	78
111 E Congress St	0.32mi	3/1.0	1,163 (-2%)	11mo	$190,000	$163	73
1003 Masonic Ave	0.47mi	3/1.0	1,236 (+4%)	8mo	$185,000	$150	64
1018 Kenwood Ave	0.47mi	3/2.0	1,192 (+1%)	10mo	$88,600	$74	64
115 E Center St	0.30mi	3/1.0	1,304 (+10%)	6mo	$225,000	$173	64
613 James St	0.39mi	3/2.0	1,146 (-3%)	11mo	$223,000	$195	63
422 Pine St	0.61mi	3/2.0	1,216 (+3%)	0mo	$220,000	$181	63
415 N State Rd	0.60mi	3/1.0	1,242 (+5%)	3mo	$65,000	$52	62
315 Hall St	0.54mi	3/1.0	1,270 (+7%)	6mo	$205,000	$161	58
812 Alderman St	0.41mi	3/1.0	1,356 (+14%)	9mo	$190,000	$140	49
818 Pleasant St	0.33mi	2/2.0 (-1)	1,028 (-13%)	6mo	$190,000	$185	48
204 E Ellis St	0.73mi	3/1.0	1,328 (+12%)	11mo	$230,000	$173	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.6%
• Equity multiple: 2.75×
• Total profit: $107,474
• Equity at exit: $198,103

10-year hold

• IRR: 19.5%
• Equity multiple: 6.30×
• Total profit: $326,038
• Equity at exit: $427,217

Cash invested: $61,572 (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 48809

• Home prices YoY: 3.3%
• Active inventory: 73
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $1,544 medium
• Mortgage (P&I): −$1,153
• Tax from tax record: −$112 /mo · $1,343/yr
• Insurance: −$92
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $-192

Break-even live

Break-even rent $1,788

Max offer price $185,931

Occupancy floor —

Sensitivity live

Price	-10% $-68	-5% $-130	+0% $-192	+5% $-255	+10% $-317
Rent	-10% $-314	-5% $-253	+0% $-192	+5% $-131	+10% $-70
Rate	-1.0pp $-82	-0.5pp $-136	base $-192	+0.5pp $-249	+1.0pp $-307

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-14
   listed $219,900 Active 1304-char remark

   Show marketing remark (992 chars)

   Welcome home to 413 S Front St! This beautifully redesigned home has been completely renovated from top to bottom, offering a truly move-in ready experience. Every detail has been thoughtfully updated, including all new flooring, paint, fixtures, hardware, appliances, and finishes throughout the entire home. The brand-new kitchen was fully redesigned to maximize both style and functionality, creating a space that truly works with the layout of the home while offering a fresh, modern feel. From the moment you step inside, you'll notice the elevated design and inviting atmosphere. The welcoming entry features a functional office space, built-in coat and shoe bench, and cozy seating area. The bright and open main floor is filled with natural light from the large windows and includes one spacious bedroom, a fully renovated bathroom, and convenient laundry room. Upstairs, you'll find two additional generously sized bedrooms, also fully updated with new flooring, paint, and fixtures.

2. 2026-05-14
   listed $219,900 Active 1305-char remark

   Show marketing remark (992 chars)

   Welcome home to 413 S Front St! This beautifully redesigned home has been completely renovated from top to bottom, offering a truly move-in ready experience. Every detail has been thoughtfully updated, including all new flooring, paint, fixtures, hardware, appliances, and finishes throughout the entire home. The brand-new kitchen was fully redesigned to maximize both style and functionality, creating a space that truly works with the layout of the home while offering a fresh, modern feel. From the moment you step inside, you'll notice the elevated design and inviting atmosphere. The welcoming entry features a functional office space, built-in coat and shoe bench, and cozy seating area. The bright and open main floor is filled with natural light from the large windows and includes one spacious bedroom, a fully renovated bathroom, and convenient laundry room. Upstairs, you'll find two additional generously sized bedrooms, also fully updated with new flooring, paint, and fixtures.

3. 2026-05-14
   listed $219,900 Active

   Show marketing remark (992 chars)

   Welcome home to 413 S Front St! This beautifully redesigned home has been completely renovated from top to bottom, offering a truly move-in ready experience. Every detail has been thoughtfully updated, including all new flooring, paint, fixtures, hardware, appliances, and finishes throughout the entire home. The brand-new kitchen was fully redesigned to maximize both style and functionality, creating a space that truly works with the layout of the home while offering a fresh, modern feel. From the moment you step inside, you'll notice the elevated design and inviting atmosphere. The welcoming entry features a functional office space, built-in coat and shoe bench, and cozy seating area. The bright and open main floor is filled with natural light from the large windows and includes one spacious bedroom, a fully renovated bathroom, and convenient laundry room. Upstairs, you'll find two additional generously sized bedrooms, also fully updated with new flooring, paint, and fixtures.

ⓘ 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: $1,343 · $112/mo
• Projected year-2 tax: $2,365 · $197/mo
• Expected delta: +$1,022/yr (+$85/mo · 76.1%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,531
• − Mortgage interest: −$12,318
• − Property taxes: −$1,343
• − Insurance: −$1,766
• − Repairs & maintenance: −$1,483
• − Management: −$1,483
• − Depreciation: −$6,397
• Taxable loss: −$6,258
• Est. tax savings @ 24.0%: +$1,502
• After-tax cash flow: $-806/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: Belding Area School District
• NCES district ID: 2604530
• Math proficiency: 23% ▼ -9.00%
• Reading proficiency: 31% ▼ -8.00%
• Median HH income: $46,310
• Composite: 23.33/100
• National rank: #7915
• State rank: #398 of 540 in MI

Livability — Belding

• Score: 74/100
• State rank: #169
• US rank: #4436

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Belding, MI
• Population (ZIP): 11,292

Population outlook (Ionia County) Hauer SSP2

• Today (2025): 63,958 people
• By 2030: 63,321 · -1.0%
• By 2040: 61,544 · -3.8%
• By 2050: 58,682 · -8.2%
• By 2075: 48,909 · -23.5%
• By 2100: 35,867 · -43.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Iranian 7% Romanian 4% Lithuanian 3%
• Foreign-born: 1% · Canada, China
• Languages at home: 95% English-only · Spanish 3% Russian/Polish/Slavic 1%

Political lean MEDSL · Ionia

• 2024 margin: Solid R (+31.9) · D 33.3% · R 65.2% · Other 1.5%
• 2008→2024 swing: -26.0pp toward R · 2008: -5.8pp · 2024: -31.9pp
• All cycles: 2024: R+31.9 2020: R+30.3 2016: R+31.0 2012: R+12.8 2008: R+5.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 13.30%
• Current HPI: 412.5108
• 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

+0.0% since first listed

6 events — show timeline

• 2026-05-20 Pending — REALCOMP
• 2026-05-20 Pending — MiRealSource-MiMLS
• 2026-05-20 Pending — SW Michigan MLS
• 2026-05-14 Listed $219,900 SW Michigan MLS
• 2026-05-14 Listed $219,900 MiRealSource-MiMLS
• 2026-05-14 Listed $219,900 REALCOMP

Property tax history

+2.4%/yr

Latest (2025): $1,343 · +2.6% YoY. Source: county tax records.