174 S Fillmore Rd · Ovid, MI 49036

$95,000

4 bd · 1.0 ba · 2,256 sqft · SingleFamily · 45 Days on market

Built 1930 2.07 ac lot $42/sqft · 76% below area

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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 +3.8/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity to own a home offering all of the great charm and character with homes from the early 1900's. This piece of history is waiting for the right person to bring it back to its former glory. Offering four bedrooms, large kitchen, formal dining, and a spacious living room the home offers the potential for everything you would expect of a home from this era. Outside you'll find two acres of land to call your own, feature multiple out buildings and mature tree in a country setting. Come see this home today and let your imagination run wild.

Key facts

• Mature tree
• Two acres of land
• Country setting

Tags

• TWO ACRES OF LAND
• MULTIPLE OUT BUILDINGS
• MATURE TREE
• COUNTRY SETTING

Property features AI

Exterior

• Utilities: Well water
• Home design: Colonial-style single-family residence; Approximately 2,256 square feet living area; Built in 1930
• Construction: Brick and wood siding construction; Aluminum roof
• Exterior features: Paved road access; Well water source; Lot of about 2.07 acres

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Other heating
• Interior features: 11 total rooms; Michigan-style basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $466 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $92k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.2% vs local median 2.4% in Ovid — 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 75/100 on livability (#162 in MI, #4,215 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: employment C-, amenities F, commute F.
• Coldwater Community Schools (town): math 26% / reading 37% proficiency, ranked #344 of 540 in MI (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 142 active listings in the ZIP; 43 units permitted in Branch County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Branch County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 5y 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 $70k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $92,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.54% ✓
• Cap rate: 12.18%
• Cash-on-cash: 21.03%
• DSCR: 1.94
• GRM: 5.4

CMA / ARV

• ARV (median comp): $395,000
• List price: $95,000
• Delta: -75.95%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 13.5%
• Equity multiple: 1.54×
• Total profit: $14,332
• Equity at exit: $14,165

10-year hold

• IRR: 22.3%
• Equity multiple: 2.91×
• Total profit: $50,875
• Equity at exit: $8,214

Cash invested: $26,600 (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 49036

• Active inventory: 142
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,463 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$152 /mo · $1,824/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $466

Break-even live

Break-even rent $873

Max offer price $95,000

Occupancy floor 63%

Sensitivity live

Price	-10% $520	-5% $493	+0% $466	+5% $439	+10% $412
Rent	-10% $350	-5% $408	+0% $466	+5% $524	+10% $582
Rate	-1.0pp $514	-0.5pp $490	base $466	+0.5pp $441	+1.0pp $416

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Listing history 42 events

1. 2026-06-21
   days on market $95,000 Active 45 DOM
2. 2026-06-18
   days on market $95,000 Active 43 DOM
3. 2026-06-17
   days on market $95,000 Active 42 DOM
4. 2026-06-17
   price $95,000 Active 41 DOM
5. 2026-06-16
   days on market $99,000 Active 41 DOM

   Show marketing remark (556 chars)

   Great opportunity to own a home offering all of the great charm and character with homes from the early 1900's. This piece of history is waiting for the right person to bring it back to its former glory. Offering four bedrooms, large kitchen, formal dining, and a spacious living room the home offers the potential for everything you would expect of a home from this era. Outside you'll find two acres of land to call your own, feature multiple out buildings and mature tree in a country setting. Come see this home today and let your imagination run wild.

6. 2026-06-15
   days on market $99,000 Active 40 DOM
7. 2026-06-13
   days on market $99,000 Active 38 DOM
8. 2026-06-12
   days on market $99,000 Active 37 DOM
9. 2026-06-09
   days on market $99,000 Active 34 DOM
10. 2026-06-08
    days on market $99,000 Active 33 DOM
11. 2026-06-07
    days on market $99,000 Active 32 DOM
12. 2026-06-07
    days on market $99,000 Active 31 DOM
13. 2026-06-04
    days on market $99,000 Active 28 DOM
14. 2026-06-02
    days on market $99,000 Active 27 DOM
15. 2026-06-01
    days on market $99,000 Active 26 DOM
16. 2026-05-31
    days on market $99,000 Active 25 DOM
17. 2026-05-31
    days on market $99,000 Active 24 DOM
18. 2026-05-06
    listed $99,000 Active 556-char remark

    Show marketing remark (556 chars)

    Great opportunity to own a home offering all of the great charm and character with homes from the early 1900's. This piece of history is waiting for the right person to bring it back to its former glory. Offering four bedrooms, large kitchen, formal dining, and a spacious living room the home offers the potential for everything you would expect of a home from this era. Outside you'll find two acres of land to call your own, feature multiple out buildings and mature tree in a country setting. Come see this home today and let your imagination run wild.

19. 2026-05-06
    listed $99,000 Active 556-char remark

    Show marketing remark (556 chars)

    Great opportunity to own a home offering all of the great charm and character with homes from the early 1900's. This piece of history is waiting for the right person to bring it back to its former glory. Offering four bedrooms, large kitchen, formal dining, and a spacious living room the home offers the potential for everything you would expect of a home from this era. Outside you'll find two acres of land to call your own, feature multiple out buildings and mature tree in a country setting. Come see this home today and let your imagination run wild.

20. 2026-05-06
    listed $99,000 Active

    Show marketing remark (556 chars)

    Great opportunity to own a home offering all of the great charm and character with homes from the early 1900's. This piece of history is waiting for the right person to bring it back to its former glory. Offering four bedrooms, large kitchen, formal dining, and a spacious living room the home offers the potential for everything you would expect of a home from this era. Outside you'll find two acres of land to call your own, feature multiple out buildings and mature tree in a country setting. Come see this home today and let your imagination run wild.

21. 2025-11-14
    historical
22. 2025-11-14
    historical
23. 2025-10-14
    price $77,900
24. 2025-10-13
    price $77,900
25. 2025-10-13
    price $77,900
26. 2025-10-09
    price $82,900
27. 2025-10-08
    price $82,900
28. 2025-10-08
    price $82,900
29. 2025-08-19
    listed $94,900 Active
30. 2025-08-19
    listed $94,900 Active
31. 2021-08-11
    soldstatus $70,000
32. 2021-08-05
    soldstatus $70,000 Sold
33. 2021-08-05
    soldstatus $70,000 Sold
34. 2021-06-11
    price $70,000
35. 2021-06-11
    price $70,000
36. 2021-06-11
    status Pending
37. 2021-06-11
    status Pending
38. 2021-06-11
    status Pending
39. 2021-06-10
    price $70,000
40. 2021-05-10
    listed $1 Active
41. 2021-05-10
    listed $1 Active
42. 2021-05-10
    listed $1 Active

ⓘ 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: $1,824 · $152/mo
• Projected year-2 tax: $1,824 · $152/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

ⓘ 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 · 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: $17,557
• − Mortgage interest: −$5,321
• − Property taxes: −$1,824
• − Insurance: −$475
• − Repairs & maintenance: −$1,405
• − Management: −$1,405
• − Depreciation: −$2,764
• Taxable income: $4,364
• Est. tax owed @ 24.0%: −$1,047
• After-tax cash flow: $4,545/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: Coldwater Community Schools
• NCES district ID: 2610140
• Math proficiency: 26% ▼ -12.00%
• Reading proficiency: 37% ▼ -5.00%
• Median HH income: $44,373
• Composite: 26.87/100
• National rank: #7101
• State rank: #344 of 540 in MI

Livability — Ovid

• Score: 75/100
• State rank: #162
• US rank: #4215

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 24,697

Population outlook (Branch County) Hauer SSP2

• Today (2025): 41,079 people
• By 2030: 39,622 · -3.5%
• By 2040: 36,584 · -10.9%
• By 2050: 33,462 · -18.5%
• By 2075: 26,612 · -35.2%
• By 2100: 18,580 · -54.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 7% Two or more races 5% Black 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 5% Iranian 3% Lithuanian 2%
• Foreign-born: 8% · Canada
• Languages at home: 86% English-only · Arabic 7% Spanish 5% German/W. Germanic 1%

Political lean MEDSL · Branch

• 2024 margin: Solid R (+42.4) · D 28.0% · R 70.4% · Other 1.6%
• 2008→2024 swing: -36.2pp toward R · 2008: -6.1pp · 2024: -42.4pp
• All cycles: 2024: R+42.4 2020: R+38.5 2016: R+38.1 2012: R+18.7 2008: R+6.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -214.60%
• Current HPI: 192.653
• 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

+35.7% since first listed

28 events — show timeline

• 2026-06-16 Price Changed $95,000 MiRealSource-MiMLS
• 2026-06-16 Price Changed $95,000 REALCOMP
• 2026-06-16 Price Changed $95,000 SW Michigan MLS
• 2026-05-06 Listed $99,000 SW Michigan MLS
• 2026-05-06 Listed $99,000 REALCOMP
• 2026-05-06 Listed $99,000 MiRealSource-MiMLS
• 2025-11-14 Listing Removed — REALCOMP
• 2025-11-14 Listing Removed — MiRealSource-MiMLS
• 2025-10-14 Price Changed $77,900 MiRealSource-MiMLS
• 2025-10-13 Price Changed $77,900 REALCOMP
• 2025-10-13 Price Changed $77,900 SW Michigan MLS
• 2025-10-09 Price Changed $82,900 MiRealSource-MiMLS
• 2025-10-08 Price Changed $82,900 REALCOMP
• 2025-10-08 Price Changed $82,900 SW Michigan MLS
• 2025-08-19 Listed $94,900 REALCOMP
• 2025-08-19 Listed $94,900 MiRealSource-MiMLS
• 2021-08-11 Sold (Public Records) $70,000 Public Records
• 2021-08-05 Sold (MLS) $70,000 SW Michigan MLS
• 2021-08-05 Sold (MLS) $70,000 REALCOMP
• 2021-06-11 Price Changed $70,000 REALCOMP
• 2021-06-11 Price Changed $70,000 SW Michigan MLS
• 2021-06-11 Pending — MiRealSource-MiMLS
• 2021-06-11 Pending — REALCOMP
• 2021-06-11 Pending — SW Michigan MLS
• 2021-06-10 Price Changed $70,000 MiRealSource-MiMLS
• 2021-05-10 Listed $1 MiRealSource-MiMLS
• 2021-05-10 Listed $1 SW Michigan MLS
• 2021-05-10 Listed $1 REALCOMP

Property tax history

+4.5%/yr

Latest (2024): $1,824 · +9.3% YoY. Source: county tax records.