4662 W isabella Rd · Coleman, MI 48883

$64,000

2 bd · 1.0 ba · 960 sqft · SingleFamily public records · 95 Days on market

Built 1968 1.00 ac lot $67/sqft · 41% below area Est $109k · 41% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Home is livable but will need septic work and will need a new roof in the near future The starts of a pole barn frame. Property is as is where is cash or conventional financing NO RENTAL NO LAND CONTRACT Appliances are NOT included

Key facts

• 1 acre lot
• Built 1968
• Listed 94 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $64k.

Deal economics

• At list price, monthly cash flow is $331 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($968 rent vs $64k).
• Recommended offer: $58k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#525 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, crime B; Watch: health & safety C-, schools F, amenities F.
• Bullock Creek School District (rural): math 37% / reading 55% proficiency, ranked #132 of 540 in MI (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 22 active listings in the ZIP; 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 $442 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($58k) is reasonable based on typical stale-listing flexibility.

Recommended offer $58,240 (9.0% below list)

Questions for the listing agent

1. It's been on market 95 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-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. 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.
7. 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.
8. 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: 1.51% ✓
• Cap rate: 12.50%
• Cash-on-cash: 22.15%
• DSCR: 1.99
• GRM: 5.5

CMA / ARV

• ARV (median comp): $109,066
• List price: $64,000
• Delta: -41.32%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 14.9%
• Equity multiple: 1.60×
• Total profit: $10,709
• Equity at exit: $9,543

10-year hold

• IRR: 23.6%
• Equity multiple: 3.04×
• Total profit: $36,495
• Equity at exit: $5,534

Cash invested: $17,920 (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 48883

• Active inventory: 22
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $968 medium
• Mortgage (P&I): −$336
• Tax from tax record: −$71 /mo · $856/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$203
• Net cashflow: $331

Break-even live

Break-even rent $549

Max offer price $64,000

Occupancy floor 61%

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: $16,000
• Closing costs: $1,920
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $64,000 Active 95 DOM
2. 2026-06-18
   days on market $64,000 Active 94 DOM
3. 2026-06-17
   days on market $64,000 Active 93 DOM
4. 2026-06-16
   days on market $64,000 Active 92 DOM
5. 2026-06-15
   days on market $64,000 Active 91 DOM
6. 2026-06-14
   days on market $64,000 Active 89 DOM
7. 2026-06-12
   days on market $64,000 Active 88 DOM
8. 2026-06-09
   days on market $64,000 Active 85 DOM
9. 2026-06-08
   days on market $64,000 Active 84 DOM
10. 2026-06-07
    days on market $64,000 Active 83 DOM
11. 2026-06-05
    days on market $64,000 Active 80 DOM
12. 2026-06-03
    days on market $64,000 Active 79 DOM
13. 2026-06-02
    days on market $64,000 Active 78 DOM
14. 2026-06-01
    days on market $64,000 Active 77 DOM
15. 2026-05-31
    days on market $64,000 Active 76 DOM
16. 2026-05-30
    days on market $64,000 Active 75 DOM
17. 2026-03-16
    listed $64,000 Active 233-char remark

    Show marketing remark (233 chars)

    Home is livable but will need septic work and will need a new roof in the near future The starts of a pole barn frame. Property is as is where is cash or conventional financing NO RENTAL NO LAND CONTRACT Appliances are NOT included

ⓘ 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: $856 · $71/mo
• Projected year-2 tax: $921 · $77/mo
• Expected delta: +$65/yr (+$5/mo · 7.5%)

ⓘ 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 ≥99°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: $11,612
• − Mortgage interest: −$3,585
• − Property taxes: −$856
• − Insurance: −$320
• − Repairs & maintenance: −$929
• − Management: −$929
• − Depreciation: −$1,862
• Taxable income: $3,131
• Est. tax owed @ 24.0%: −$751
• After-tax cash flow: $3,218/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: Bullock Creek School District
• NCES district ID: 2607320
• Math proficiency: 37% ▼ -12.00%
• Reading proficiency: 55% ▼ -5.00%
• Median HH income: $52,984
• Composite: 39.68/100
• National rank: #3907
• State rank: #132 of 540 in MI

Livability — Coleman

• Score: 63/100
• State rank: #525
• US rank: #15768

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 6,755

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 (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Romanian 6% Iranian 3% Lithuanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 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: ▼ -124.65%
• Current HPI: 178.4528
• 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

1 event — show timeline

• 2026-03-16 Listed $64,000 MiRealSource-MiMLS

Property tax history

-1.3%/yr

Latest (2024): $856 · +5.1% YoY. Source: county tax records.