4038 E 3rd Ave · White Cloud, MI 49337

$120,000

1 bd · 1.0 ba · 800 sqft · SingleFamily · 12 Days on market

Built 1980 0.34 ac lot $150/sqft · at area comps Est $126k · at est.

---

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).

• ARV discount +9.6/15.0
• Cash flow +9.4/30.0
• Livability +3.2/5.0
• Schools +2.7/10.0
• 1% rule +2.6/10.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * * * Highest and best due Monday 5/18 by 3 pm * * * * * Cute and cozy 1-bedroom, 1-bath home tucked away in a peaceful rural Newaygo setting. Situated on a spacious lot in a quiet neighborhood, this property offers plenty of room to enjoy the outdoors while still being close to town conveniences. Enjoy being within walking distance to the Hardy Dam and the Dragon Trail, offering easy access to boating, fishing, hiking, biking, and outdoor recreation. Whether you're looking for a starter home, weekend getaway, or investment opportunity, this charming home has lots of potential and a relaxing country feel.

Key facts

• 0.34 acre lot
• Built 1980
• Listed 12 days

Property features AI

Exterior

• Utilities: High-speed internet available
• Home design: Ranch-style single-family home; Living area listed as 800 square feet; Built in 1980
• Construction: Aluminum siding; Composition roof; Slab foundation
• Exterior features: Lot is approximately 0.34 acres; Well water

Interior

• Kitchen: Kitchen (17 x 19); Oven; Range; Refrigerator
• Bedrooms: Primary bedroom (12 x 11)
• Bathrooms: 1 full bathroom (5 x 8)
• Heating & cooling: Forced air heating; Other heating
• Interior features: Total of 4 rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $-85 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $105k (12.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $91k (24.4% below list).
• Recommended offer: $91k (24.4% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 3.9% in White Cloud — 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 64/100 on livability (#485 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: employment D, schools F, amenities F.
• Newaygo Public School District (town): math 23% / reading 40% proficiency, ranked #349 of 540 in MI (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 109 active listings in the ZIP; 155 units permitted in Newaygo County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Newaygo County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 14y 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.

Recommended offer $90,759 (24.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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. 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?
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: 0.76% ✗
• Cap rate: 5.44%
• Cash-on-cash: -3.05%
• DSCR: 0.86
• GRM: 11.0

CMA / ARV

• ARV (median comp): $125,736
• List price: $120,000
• Delta: -4.56%
• Verdict: FAIR
• Comps: 6 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4077 2nd Ave	0.11mi	2/1.0 (+1)	752 (-6%)	3mo	$145,000	$193	77

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: -21.4%
• Equity multiple: 0.26×
• Total profit: $-24,881
• Equity at exit: $17,892

10-year hold

• IRR: -15.0%
• Equity multiple: 0.15×
• Total profit: $-28,674
• Equity at exit: $10,375

Cash invested: $33,600 (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 49337

• Home prices YoY: -16.9%
• Active inventory: 109
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $908 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$123 /mo · $1,476/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$191
• Net cashflow: $-85

Break-even live

Break-even rent $1,016

Max offer price $104,930

Occupancy floor —

Sensitivity live

Price	-10% $-17	-5% $-51	+0% $-85	+5% $-119	+10% $-153
Rent	-10% $-157	-5% $-121	+0% $-85	+5% $-49	+10% $-14
Rate	-1.0pp $-25	-0.5pp $-55	base $-85	+0.5pp $-116	+1.0pp $-148

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-05-18
   historical Active Under Contract 623-char remark

   Show marketing remark (623 chars)

   * * * * Highest and best due Monday 5/18 by 3 pm * * * * * Cute and cozy 1-bedroom, 1-bath home tucked away in a peaceful rural Newaygo setting. Situated on a spacious lot in a quiet neighborhood, this property offers plenty of room to enjoy the outdoors while still being close to town conveniences. Enjoy being within walking distance to the Hardy Dam and the Dragon Trail, offering easy access to boating, fishing, hiking, biking, and outdoor recreation. Whether you're looking for a starter home, weekend getaway, or investment opportunity, this charming home has lots of potential and a relaxing country feel.

2. 2026-05-18
   historical Accepting Backup Offers 623-char remark

   Show marketing remark (623 chars)

   * * * * Highest and best due Monday 5/18 by 3 pm * * * * * Cute and cozy 1-bedroom, 1-bath home tucked away in a peaceful rural Newaygo setting. Situated on a spacious lot in a quiet neighborhood, this property offers plenty of room to enjoy the outdoors while still being close to town conveniences. Enjoy being within walking distance to the Hardy Dam and the Dragon Trail, offering easy access to boating, fishing, hiking, biking, and outdoor recreation. Whether you're looking for a starter home, weekend getaway, or investment opportunity, this charming home has lots of potential and a relaxing country feel.

3. 2026-05-18
   historical Active - Backup Offers Accepted

   Show marketing remark (623 chars)

   * * * * Highest and best due Monday 5/18 by 3 pm * * * * * Cute and cozy 1-bedroom, 1-bath home tucked away in a peaceful rural Newaygo setting. Situated on a spacious lot in a quiet neighborhood, this property offers plenty of room to enjoy the outdoors while still being close to town conveniences. Enjoy being within walking distance to the Hardy Dam and the Dragon Trail, offering easy access to boating, fishing, hiking, biking, and outdoor recreation. Whether you're looking for a starter home, weekend getaway, or investment opportunity, this charming home has lots of potential and a relaxing country feel.

4. 2026-05-14
   listed $120,000 Active 623-char remark

   Show marketing remark (623 chars)

   * * * * Highest and best due Monday 5/18 by 3 pm * * * * * Cute and cozy 1-bedroom, 1-bath home tucked away in a peaceful rural Newaygo setting. Situated on a spacious lot in a quiet neighborhood, this property offers plenty of room to enjoy the outdoors while still being close to town conveniences. Enjoy being within walking distance to the Hardy Dam and the Dragon Trail, offering easy access to boating, fishing, hiking, biking, and outdoor recreation. Whether you're looking for a starter home, weekend getaway, or investment opportunity, this charming home has lots of potential and a relaxing country feel.

5. 2026-05-14
   listed $120,000 Active 623-char remark

   Show marketing remark (623 chars)

   * * * * Highest and best due Monday 5/18 by 3 pm * * * * * Cute and cozy 1-bedroom, 1-bath home tucked away in a peaceful rural Newaygo setting. Situated on a spacious lot in a quiet neighborhood, this property offers plenty of room to enjoy the outdoors while still being close to town conveniences. Enjoy being within walking distance to the Hardy Dam and the Dragon Trail, offering easy access to boating, fishing, hiking, biking, and outdoor recreation. Whether you're looking for a starter home, weekend getaway, or investment opportunity, this charming home has lots of potential and a relaxing country feel.

6. 2026-05-14
   listed $120,000 Active

   Show marketing remark (623 chars)

   * * * * Highest and best due Monday 5/18 by 3 pm * * * * * Cute and cozy 1-bedroom, 1-bath home tucked away in a peaceful rural Newaygo setting. Situated on a spacious lot in a quiet neighborhood, this property offers plenty of room to enjoy the outdoors while still being close to town conveniences. Enjoy being within walking distance to the Hardy Dam and the Dragon Trail, offering easy access to boating, fishing, hiking, biking, and outdoor recreation. Whether you're looking for a starter home, weekend getaway, or investment opportunity, this charming home has lots of potential and a relaxing country feel.

7. 2022-04-15
   soldstatus $105,000
8. 2019-12-02
   soldstatus $74,900
9. 2019-12-02
   soldstatus $74,900 Sold
10. 2019-12-02
    soldstatus $74,900
11. 2019-12-02
    soldstatus $77,147
12. 2019-09-19
    status Pending
13. 2019-07-11
    price $74,900
14. 2019-05-20
    price $84,900
15. 2019-04-26
    listed $74,900
16. 2019-04-26
    listed $89,900 Active
17. 2019-04-26
    listed $74,900
18. 2015-04-03
    historical
19. 2015-04-02
    historical
20. 2014-10-02
    listed $44,000
21. 2014-10-02
    listed $44,000
22. 2012-09-07
    soldstatus $32,000
23. 2012-09-07
    soldstatus $32,000
24. 2012-09-07
    soldstatus $32,000
25. 2012-06-12
    listed $35,000
26. 2012-06-12
    listed $35,000

ⓘ 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: $1,476 · $123/mo
• Projected year-2 tax: $1,662 · $139/mo
• Expected delta: +$186/yr (+$15/mo · 12.6%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥95°F today · 15 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: $10,891
• − Mortgage interest: −$6,722
• − Property taxes: −$1,476
• − Insurance: −$600
• − Repairs & maintenance: −$871
• − Management: −$871
• − Depreciation: −$3,491
• Taxable loss: −$3,140
• Est. tax savings @ 24.0%: +$754
• After-tax cash flow: $-270/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: Newaygo Public School District
• NCES district ID: 2625320
• Math proficiency: 23% ▼ -8.00%
• Reading proficiency: 40% ▲ 1.00%
• Median HH income: $41,018
• Composite: 26.52/100
• National rank: #7199
• State rank: #349 of 540 in MI

Livability — White Cloud

• Score: 64/100
• State rank: #485
• US rank: #14110

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 13,030

Population outlook (Newaygo County) Hauer SSP2

• Today (2025): 46,371 people
• By 2030: 44,879 · -3.2%
• By 2040: 41,107 · -11.4%
• By 2050: 36,800 · -20.6%
• By 2075: 27,507 · -40.7%
• By 2100: 18,600 · -59.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 7% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Iranian 14% Romanian 5% Lithuanian 4%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Newaygo

• 2024 margin: Solid R (+42.8) · D 27.9% · R 70.7% · Other 1.5%
• 2008→2024 swing: -38.2pp toward R · 2008: -4.6pp · 2024: -42.8pp
• All cycles: 2024: R+42.8 2020: R+40.4 2016: R+39.6 2012: R+17.4 2008: R+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -62.83%
• Current HPI: 310.1533
• 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

+242.9% since first listed

29 events — show timeline

• 2026-05-27 Pending — REALCOMP
• 2026-05-26 Pending — MiRealSource-MiMLS
• 2026-05-26 Pending — SW Michigan MLS
• 2026-05-18 Contingent — REALCOMP
• 2026-05-18 Contingent — MiRealSource-MiMLS
• 2026-05-18 Contingent — SW Michigan MLS
• 2026-05-14 Listed $120,000 SW Michigan MLS
• 2026-05-14 Listed $120,000 MiRealSource-MiMLS
• 2026-05-14 Listed $120,000 REALCOMP
• 2022-04-15 Sold (Public Records) $105,000 Public Records
• 2019-12-02 Sold (Public Records) $77,147 Public Records
• 2019-12-02 Sold (MLS) $74,900 MiRealSource-MiMLS
• 2019-12-02 Sold (MLS) $74,900 SW Michigan MLS
• 2019-12-02 Sold (MLS) $74,900 REALCOMP
• 2019-09-19 Pending — SW Michigan MLS
• 2019-07-11 Price Changed $74,900 SW Michigan MLS
• 2019-05-20 Price Changed $84,900 SW Michigan MLS
• 2019-04-26 Listed $74,900 MiRealSource-MiMLS
• 2019-04-26 Listed $89,900 SW Michigan MLS
• 2019-04-26 Listed $74,900 REALCOMP
• 2015-04-03 Listing Removed — SW Michigan MLS
• 2015-04-02 Listing Removed — REALCOMP
• 2014-10-02 Listed $44,000 SW Michigan MLS
• 2014-10-02 Listed $44,000 REALCOMP
• 2012-09-07 Sold (Public Records) $32,000 Public Records
• 2012-09-07 Sold (MLS) $32,000 REALCOMP
• 2012-09-07 Sold (MLS) $32,000 SW Michigan MLS
• 2012-06-12 Listed $35,000 REALCOMP
• 2012-06-12 Listed $35,000 SW Michigan MLS

Property tax history

+8.7%/yr

Latest (2025): $1,476 · +2.0% YoY. Source: county tax records.