3328 Cobb St · Midland, MI 48642

$189,700

3 bd · 1.0 ba · 995 sqft · SingleFamily public records · 8 Days on market

Built 1990 8,712 sqft lot Est $149k · 27% 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).

• Cash flow +14.2/30.0
• Schools +4.9/10.0
• DSCR +4.3/10.0
• Livability +4.2/5.0
• 1% rule +3.4/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome Home! This beautiful 4-bedroom home has been completely transformed from top to bottom and is truly move-in ready. Updates include a new roof, new hickory kitchen with stainless steel appliances, updated bathroom, freshly painted throughout along with new flooring. Enjoy relaxing evenings on your new back deck! Call today for your personal showing!

Key facts

• New back deck
• New roof
• Updated bathroom

Tags

• NEW ROOF
• HICKORY KITCHEN
• STAINLESS STEEL APPLIANCES
• UPDATED BATHROOM
• NEW BACK DECK

Property features AI

Finance

• HOA & community: Has homeowners association

Exterior

• Utilities: Public water; Public sewer
• Home design: Single family residence; One story
• Construction: Vinyl siding; Above-grade finished living area reported; Below-grade finished area reported
• Exterior features: Shed(s); Lot dimensions approximately 64 x 140; Lot size about 0.2 acre

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Cooling with ceiling fan(s)
• Interior features: Partially finished basement; Ceiling fan(s)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $31 ($367/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 $159k (16.1% below list).
• Recommended offer: $159k (16.1% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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; 1 comparable units currently listed for rent nearby; 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 $6k 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 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.
• Current owner paid $95k; list at $190k implies a 100% gain — meaningful room to come down on a strong offer.

Recommended offer $159,201 (16.1% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
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: 0.84% ✗
• Cap rate: 6.49%
• Cash-on-cash: 0.69%
• DSCR: 1.03
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $149,250
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
301 Waldo Ave	0.09mi	2/1.0 (-1)	912 (-8%)	0mo	$144,000	$158	76
616 Waldo Ave	0.34mi	3/1.0	940 (-6%)	12mo	$152,000	$162	65
318 Cottonwood St	0.09mi	2/1.0 (-1)	901 (-9%)	14mo	$120,000	$133	63
327 Sam St	0.58mi	3/1.0	1,089 (+9%)	8mo	$135,000	$124	50
712 Cottonwood St. St	0.40mi	2/1.0 (-1)	904 (-9%)	14mo	$164,000	$181	50
2614 Parsons Ct	0.44mi	4/1.0 (+1)	1,080 (+8%)	22mo	$162,000	$150	42
307 Walter Ct	0.69mi	3/1.5	1,122 (+13%)	18mo	$164,900	$147	29

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: -17.8%
• Equity multiple: 0.39×
• Total profit: $-32,572
• Equity at exit: $28,285

10-year hold

• IRR: -15.0%
• Equity multiple: 0.23×
• Total profit: $-40,648
• Equity at exit: $16,402

Cash invested: $53,116 (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: 9.9×

Monthly cashflow live

• Estimated rent: $1,592 medium
• Mortgage (P&I): −$995
• Tax from tax record: −$153 /mo · $1,839/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $31

Break-even live

Break-even rent $1,553

Max offer price $189,700

Occupancy floor 93%

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: $47,425
• Closing costs: $5,691
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2211 Eastlawn Dr Midland, MI	1.0–2.0	1.0	690	$880	$1.28	43d	1	1.44mi

Listing history 8 events

1. 2026-06-19
   days on market $189,700 Active 8 DOM
2. 2026-06-18
   days on market $189,700 Active 7 DOM
3. 2026-06-17
   days on market $189,700 Active 6 DOM
4. 2026-06-16
   days on market $189,700 Active 5 DOM
5. 2026-06-15
   days on market $189,700 Active 4 DOM
6. 2026-06-14
   days on market $189,700 Active 2 DOM
7. 2026-06-13
   remarks 359-char remark
8. 2026-06-13
   listed $189,700 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: $1,839 · $153/mo
• Projected year-2 tax: $2,380 · $198/mo
• Expected delta: +$541/yr (+$45/mo · 29.4%)

ⓘ 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: $19,104
• − Mortgage interest: −$10,626
• − Property taxes: −$1,839
• − Insurance: −$948
• − Repairs & maintenance: −$1,528
• − Management: −$1,528
• − Depreciation: −$5,519
• Taxable loss: −$2,885
• Est. tax savings @ 24.0%: +$692
• After-tax cash flow: $1,060/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

+99.7% since first listed

3 events — show timeline

• 2026-06-11 Listed $189,700 REALCOMP
• 2026-06-11 Listed $189,700 MiRealSource-MiMLS
• 2026-03-19 Sold (Public Records) $95,000 Public Records

Property tax history

+3.3%/yr

Latest (2024): $1,839 · -26.9% YoY. Source: county tax records.