240 S Cass St · Mecosta, MI 49332

$62,000

5 bd · 1.5 ba · 1,708 sqft · SingleFamily public records · 18 Days on market

Built 1960 0.38 ac lot ↓ 3% since listing

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.0/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Three bedroom. , two baths and a twp car garage are featured in this ranch style home in the village of Mecosta. Large back yard. Walking distance to shopping schools & parks.

Key facts

• Large back yard
• 0.38 acre lot
• 2 garage spots

Tags

• LARGE BACK YARD
• WALKING DISTANCE TO SHOPPING
• WALKING DISTANCE TO SCHOOLS
• WALKING DISTANCE TO PARKS

Property features AI

Finance

• Financial info: Annual tax reported at $680

Exterior

• Parking: Attached garage with 2 spaces
• Utilities: Private well water; Septic tank
• Home design: Single-family residence; One level
• Construction: Wood siding construction
• Exterior features: Cleared lot; Lot dimensions approximately 83 x 200 (0.38 acres); Subdivision: Village of Mecosta

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Crawl space basement; Six total rooms

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath single-family listed at $62k.

Deal economics

• At list price, monthly cash flow is $574 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $62k).
• Recommended offer: $61k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#595 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D-, crime F, amenities F.
• Chippewa Hills School District (rural): math 24% / reading 42% proficiency, ranked #324 of 540 in MI (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 33 active listings in the ZIP; 116 units permitted in Mecosta County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $429 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Mecosta County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 11y 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 $40k; list at $62k implies a 55% gain — meaningful room to come down on a strong offer.

Recommended offer $61,070 (1.5% below list)

Questions for the listing agent

1. Built in 1960 — 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: 2.05% ✓
• Cap rate: 17.39%
• Cash-on-cash: 39.65%
• DSCR: 2.76
• GRM: 4.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 36.0%
• Equity multiple: 2.53×
• Total profit: $26,503
• Equity at exit: $9,244

10-year hold

• IRR: 42.7%
• Equity multiple: 5.04×
• Total profit: $70,195
• Equity at exit: $5,361

Cash invested: $17,360 (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 49332

• Active inventory: 33
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,268 medium
• Mortgage (P&I): −$325
• Tax est. 1.5%: −$78 /mo · $930/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $574

Break-even live

Break-even rent $542

Max offer price $62,000

Occupancy floor 50%

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: $15,500
• Closing costs: $1,860
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-19
   days on market $62,000 Active 18 DOM
2. 2026-06-18
   days on market $62,000 Active 17 DOM
3. 2026-06-17
   days on market $62,000 Active 16 DOM
4. 2026-06-16
   days on market $62,000 Active 15 DOM
5. 2026-06-15
   days on market $62,000 Active 14 DOM
6. 2026-06-14
   days on market $62,000 Active 12 DOM
7. 2026-06-12
   days on market $62,000 Active 11 DOM
8. 2026-06-09
   days on market $62,000 Active 8 DOM
9. 2026-06-08
   days on market $62,000 Active 7 DOM
10. 2026-06-07
    days on market $62,000 Active 6 DOM
11. 2026-06-05
    days on market $62,000 Active 3 DOM
12. 2026-06-03
    days on market $62,000 Active 2 DOM
13. 2026-06-02
    remarks 177-char remark
14. 2026-06-02
    listed $62,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥95°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,221
• − Mortgage interest: −$3,473
• − Property taxes: −$930
• − Insurance: −$310
• − Repairs & maintenance: −$1,218
• − Management: −$1,218
• − Depreciation: −$1,804
• Taxable income: $6,269
• Est. tax owed @ 24.0%: −$1,505
• After-tax cash flow: $5,378/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: Chippewa Hills School District
• NCES district ID: 2609560
• Math proficiency: 24% ▼ -10.00%
• Reading proficiency: 42% ▼ -5.00%
• Median HH income: $43,598
• Composite: 28.01/100
• National rank: #6849
• State rank: #324 of 540 in MI

Livability — Mecosta

• Score: 60/100
• State rank: #595
• US rank: #19408

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mecosta, MI
• City population: 3,352
• Population (ZIP): 3,352

Population outlook (Mecosta County) Hauer SSP2

• Today (2025): 42,954 people
• By 2030: 42,954 · +0.0%
• By 2040: 41,574 · -3.2%
• By 2050: 39,250 · -8.6%
• By 2075: 32,628 · -24.0%
• By 2100: 27,476 · -36.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Black 2% Hispanic / Latino 1%
• Common ancestry: Lithuanian 3% Romanian 3% Iranian 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Mecosta

• 2024 margin: Solid R (+30.0) · D 34.2% · R 64.2% · Other 1.6%
• 2008→2024 swing: -29.3pp toward R · 2008: -0.7pp · 2024: -30.0pp
• All cycles: 2024: R+30.0 2020: R+28.0 2016: R+26.1 2012: R+9.8 2008: R+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -174.16%
• Current HPI: 204.0069
• 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

-3.0% since first listed

13 events — show timeline

• 2026-05-28 Listed $62,000 REALCOMP
• 2026-05-28 Listed $62,000 MiRealSource-MiMLS
• 2018-05-21 Sold (MLS) $40,000 SW Michigan MLS
• 2018-05-21 Sold (MLS) $40,000 REALCOMP
• 2018-02-21 Pending — SW Michigan MLS
• 2018-01-22 Price Changed $44,900 SW Michigan MLS
• 2017-10-25 Price Changed $54,900 SW Michigan MLS
• 2017-09-18 Listed $59,900 SW Michigan MLS
• 2017-09-18 Listed $44,900 REALCOMP
• 2015-08-11 Listing Removed — SW Michigan MLS
• 2015-08-10 Listing Removed — REALCOMP
• 2015-03-09 Listed $63,900 SW Michigan MLS
• 2015-03-09 Listed $63,900 REALCOMP