208 W Washington St · Coleman, MI 48618

$104,900

4 bd · 2.0 ba · 1,548 sqft · SingleFamily public records · 1 Days on market

Built 1910 0.34 ac lot Est $161k · 35% 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 +26.3/30.0
• ARV discount +15.0/15.0
• DSCR +8.9/10.0
• 1% rule +6.9/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcoming on Washington! This turn-of-the-century home is an excellent opportunity for first-time buyers, growing families, or investors looking for a turn-key rental. Offering more than 1,700 square feet of living space, it combines classic character with recent updates, including fresh paint and new carpeting, while still leaving room to add your own personal style. Notable additional features include a roof in 2019, water heater in 2020 and the convenience of main floor bedroom, bath and laundry. Located in the heart of downtown Coleman, you'll enjoy the convenience of being within walking distance of schools, parks, shopping, and the rail trail. Situated on an extra-large double lot, there's plenty of room for outdoor entertaining, gardening, play, or simply enjoying the space. The seller has also added a storage shed and a fenced area, providing additional functionality for pets, children, hobbies, or outdoor storage. Whether you're envisioning summer barbecues with friends and family or looking for a solid investment in a great location, this home is one you won't want to miss. Schedule your private showing today!

Key facts

• Fenced area
• Main floor laundry
• Storage shed

Tags

• MAIN FLOOR BEDROOM
• MAIN FLOOR BATH
• MAIN FLOOR LAUNDRY
• EXTRA-LARGE DOUBLE LOT
• STORAGE SHED
• FENCED AREA

Property features AI

Finance

• Other: Lot dimensions approximately 120 x 120 (about 0.34 acres)
• Financial info: Not specified
• HOA & community: Homeowners association present

Exterior

• Parking: Not specified
• Security: Not specified
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels
• Construction: Wood siding; Block and stone foundation; Built area (above grade) approximately 1,728 square feet
• Exterior features: Front porch; Fenced yard; Shed(s)

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator
• Bedrooms: Not specified
• Flooring: Not specified
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Ceiling fans; Window air conditioning units
• Interior features: High ceilings; Full basement with block and stone walls and a sump pump; 8 total rooms
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $270 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).

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.
• Coleman Community Schools (rural): math 16% / reading 39% proficiency, ranked #400 of 540 in MI (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 28 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $725 of loan paydown is wiped out by about $3k 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 $29k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 9y 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 $62k; list at $105k implies a 69% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $104,900

Questions for the listing agent

1. Built in 1910 — 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 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?
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: 1.19% ✓
• Cap rate: 9.38%
• Cash-on-cash: 11.04%
• DSCR: 1.49
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $160,992
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
208 W Washington St	0.00mi	4/2.0	1,728 (+12%)	0mo	$96,000	$56	80
308 Mill St	0.10mi	4/1.0	1,476 (-5%)	6mo	$17,000	$12	79
207 W Washington St	0.03mi	4/2.0	1,762 (+14%)	0mo	$85,500	$49	75
112 W Fraser St	0.26mi	3/1.0 (-1)	1,528 (-1%)	6mo	$160,000	$105	71
206 W Railway St	0.06mi	3/2.0 (-1)	1,768 (+14%)	7mo	$189,500	$107	63
306 W Adams St	0.10mi	3/1.5 (-1)	1,746 (+13%)	9mo	$170,000	$97	60
127 E Fraser St	0.36mi	3/1.0 (-1)	1,512 (-2%)	14mo	$142,500	$94	59
400 W Railway St	0.17mi	3/1.0 (-1)	1,322 (-15%)	3mo	$167,900	$127	56
401 E Railway St	0.38mi	3/2.0 (-1)	1,600 (+3%)	18mo	$172,000	$108	56
210 N Third St	0.37mi	3/1.0 (-1)	1,323 (-14%)	11mo	$166,000	$125	40
312 N 3rd St	0.39mi	3/1.0 (-1)	1,357 (-12%)	16mo	$141,000	$104	39
815 N Coleman Rd	0.39mi	3/2.0 (-1)	1,756 (+13%)	19mo	$147,000	$84	38

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 0.2%
• Equity multiple: 1.01×
• Total profit: $222
• Equity at exit: $15,641

10-year hold

• IRR: 9.9%
• Equity multiple: 1.76×
• Total profit: $22,403
• Equity at exit: $9,070

Cash invested: $29,372 (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 48618

• Home prices YoY: -19.1%
• Active inventory: 28
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,247 medium
• Mortgage (P&I): −$550
• Tax from tax record: −$121 /mo · $1,454/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $270

Break-even live

Break-even rent $905

Max offer price $104,900

Occupancy floor 73%

Sensitivity live

Price	-10% $330	-5% $300	+0% $270	+5% $240	+10% $211
Rent	-10% $172	-5% $221	+0% $270	+5% $319	+10% $369
Rate	-1.0pp $323	-0.5pp $297	base $270	+0.5pp $243	+1.0pp $215

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
313 Hamilton St Coleman, MI	2.0–3.0	1.0–2.0	1099	$1,247	$1.13	44d	1	0.39mi

Listing history 2 events

1. 2026-06-07
   remarks 699-char remark
2. 2026-06-07
   listed $104,900 Pending 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: $1,454 · $121/mo
• Projected year-2 tax: $1,535 · $128/mo
• Expected delta: +$81/yr (+$7/mo · 5.6%)

ⓘ 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 ≥97°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: $14,964
• − Mortgage interest: −$5,876
• − Property taxes: −$1,454
• − Insurance: −$524
• − Repairs & maintenance: −$1,197
• − Management: −$1,197
• − Depreciation: −$3,052
• Taxable income: $1,664
• Est. tax owed @ 24.0%: −$399
• After-tax cash flow: $2,843/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: Coleman Community Schools
• NCES district ID: 2610200
• Math proficiency: 16% ▼ -9.00%
• Reading proficiency: 39% ▬ 0.00%
• Median HH income: $42,079
• Composite: 23.28/100
• National rank: #7927
• State rank: #400 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

• Census place: Coleman, MI
• Population (ZIP): 5,110

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 (94%)
• Race & ethnicity: White 94% Two or more races 3% Black 2% Hispanic / Latino 2%
• Common ancestry: Romanian 7% Lithuanian 3% Iranian 2%
• Foreign-born: 0% · Canada

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: ▼ -53.15%
• Current HPI: 225.8726
• 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

+110.2% since first listed

10 events — show timeline

• 2026-06-04 Pending — REALCOMP
• 2026-06-04 Pending — MiRealSource-MiMLS
• 2026-06-03 Listed $104,900 REALCOMP
• 2026-06-03 Listed $104,900 MiRealSource-MiMLS
• 2020-09-08 Sold (Public Records) $62,000 Public Records
• 2017-10-24 Listing Removed — MiRealSource-MiMLS
• 2017-10-24 Listing Removed — REALCOMP
• 2017-04-24 Listed $50,500 MiRealSource-MiMLS
• 2017-04-24 Listed $50,500 REALCOMP
• 2003-05-23 Sold (Public Records) $49,900 Public Records

Property tax history

-3.5%/yr

Latest (2024): $1,454 · +2.4% YoY. Source: county tax records.