210 Federal St · Midland, MI 48642

$169,900

3 bd · 1.5 ba · 1,162 sqft · SingleFamily public records · 142 Days on market

Built 1958 7,620 sqft lot $146/sqft · 10% below area Est $187k · 9% under

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Why this score? — see what drove the C- 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 +17.8/30.0
• ARV discount +11.7/15.0
• DSCR +5.6/10.0
• Schools +4.9/10.0
• 1% rule +4.6/10.0
• Livability +4.2/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to your next home in Midland MI! This home spacious corner lot ranch features 3 beds and 1.5 bath. Complimented with a 2 car detached garage.

Key facts

• 7,620 sq ft lot
• 2 garage spots
• Built 1958

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $138 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $162k (4.4% below list).
• Recommended offer: $150k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 4.4% in Midland — 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 85/100 on livability (#28 in MI, #578 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: commute F.
• Midland Public Schools (urban): math 49% / reading 64% proficiency, ranked #62 of 540 in MI (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents flat; 97 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 142 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 23y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $97k; list at $170k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $149,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 142 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1958 — 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.96% ✗
• Cap rate: 7.27%
• Cash-on-cash: 3.49%
• DSCR: 1.16
• GRM: 8.7

CMA / ARV

• ARV (median comp): $187,439
• List price: $169,900
• Delta: -9.36%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3619 Concord St	0.41mi	3/1.0	1,178 (+1%)	2mo	$190,000	$161	75
2918 Braley Ct	0.20mi	3/1.0	1,256 (+8%)	8mo	$210,000	$167	68
320 W Nickels St	0.31mi	3/1.0	1,244 (+7%)	6mo	$250,000	$201	66
305 W Sugnet Rd	0.50mi	3/1.0	1,279 (+10%)	0mo	$241,717	$189	57
305 W Sugnet Rd	0.50mi	3/1.0	1,279 (+10%)	0mo	$241,717	$189	57
2531 Jefferson Ave	0.47mi	2/1.0 (-1)	1,090 (-6%)	6mo	$140,000	$128	56
3205 Washington St	0.39mi	3/1.0	1,016 (-13%)	8mo	$143,000	$141	53
122 E Collins St	0.66mi	2/1.0 (-1)	1,245 (+7%)	4mo	$154,500	$124	46
310 E Sugnet Rd	0.44mi	2/1.0 (-1)	1,016 (-13%)	6mo	$157,900	$155	46
2515 Manor Dr	0.47mi	2/1.0 (-1)	1,034 (-11%)	8mo	$185,000	$179	46
1109 Corrinne St	0.58mi	3/1.0	1,008 (-13%)	11mo	$169,900	$169	40
1020 Wyllys St	0.53mi	2/2.0 (-1)	1,328 (+14%)	11mo	$195,000	$147	35

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 · 0.6% rent growth · sell at horizon

5-year hold

• IRR: -13.5%
• Equity multiple: 0.53×
• Total profit: $-22,537
• Equity at exit: $25,333

10-year hold

• IRR: -8.8%
• Equity multiple: 0.51×
• Total profit: $-23,226
• Equity at exit: $14,690

Cash invested: $47,572 (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 48642

• Home prices YoY: -31.4%
• Rents YoY: 0.6%
• Active inventory: 97
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,625 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$183 /mo · $2,198/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $138

Break-even live

Break-even rent $1,449

Max offer price $169,900

Occupancy floor 86%

Sensitivity live

Price	-10% $235	-5% $187	+0% $138	+5% $90	+10% $42
Rent	-10% $10	-5% $74	+0% $138	+5% $203	+10% $267
Rate	-1.0pp $224	-0.5pp $182	base $138	+0.5pp $94	+1.0pp $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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2211 Eastlawn Dr Midland, MI	1.0–2.0	1.0	690	$880	$1.28	44d	1	1.32mi

Listing history 19 events

1. 2026-06-19
   days on market $169,900 Active 142 DOM
2. 2026-06-18
   days on market $169,900 Active 141 DOM
3. 2026-06-17
   days on market $169,900 Active 140 DOM
4. 2026-06-16
   days on market $169,900 Active 139 DOM
5. 2026-06-15
   days on market $169,900 Active 138 DOM
6. 2026-06-14
   days on market $169,900 Active 136 DOM
7. 2026-06-13
   days on market $169,900 Active 135 DOM
8. 2026-06-10
   days on market $169,900 Active 133 DOM
9. 2026-06-09
   days on market $169,900 Active 132 DOM
10. 2026-06-08
    days on market $169,900 Active 131 DOM
11. 2026-06-07
    pricedays on market $169,900 Active 130 DOM
12. 2026-06-02
    days on market $179,900 Active 125 DOM
13. 2026-06-01
    days on market $179,900 Active 124 DOM
14. 2026-05-31
    days on market $179,900 Active 123 DOM
15. 2026-05-30
    days on market $179,900 Active 122 DOM
16. 2026-01-28
    listed $179,900 Active 149-char remark

    Show marketing remark (149 chars)

    Welcome to your next home in Midland MI! This home spacious corner lot ranch features 3 beds and 1.5 bath. Complimented with a 2 car detached garage.

17. 2026-01-28
    listed $179,900 Active 149-char remark

    Show marketing remark (149 chars)

    Welcome to your next home in Midland MI! This home spacious corner lot ranch features 3 beds and 1.5 bath. Complimented with a 2 car detached garage.

18. 2003-07-30
    soldstatus $97,000
19. 2003-05-13
    listed $99,900

ⓘ 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: $2,198 · $183/mo
• Projected year-2 tax: $2,407 · $201/mo
• Expected delta: +$209/yr (+$17/mo · 9.5%)

ⓘ 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 3/10 Moderate 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,494
• − Mortgage interest: −$9,517
• − Property taxes: −$2,198
• − Insurance: −$850
• − Repairs & maintenance: −$1,560
• − Management: −$1,560
• − Depreciation: −$4,943
• Taxable loss: −$1,132
• Est. tax savings @ 24.0%: +$272
• After-tax cash flow: $1,933/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: Midland Public Schools
• NCES district ID: 2623820
• Math proficiency: 49% ▼ -6.00%
• Reading proficiency: 64% ▼ -3.00%
• Median HH income: $55,844
• Composite: 48.67/100
• National rank: #2105
• State rank: #62 of 540 in MI

Livability — Midland

• Score: 85/100
• State rank: #28
• US rank: #578

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Midland, MI
• County: Midland County · 66,531 people
• City population: 66,531
• Metro: Midland, MI
• Population (ZIP): 34,039
• Household income: $77,847
• Rent vs Own: 25.3% rent · 74.7% own
• Severe rent burden: 935.0

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 4% Asian 4% Two or more races 3% Black 2%
• Common ancestry: Romanian 8% Lithuanian 5% Italian 3%
• Foreign-born: 5% · Canada, China, Vietnam
• Languages at home: 95% English-only · Other Indo-European 1% Spanish 1% Chinese 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: ▼ -87.89%
• Current HPI: 192.0812
• Rent YoY: ▲ 0.60%
• Metro: Midland, MI
• 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

+80.1% since first listed

4 events — show timeline

• 2026-01-28 Listed $179,900 REALCOMP
• 2026-01-28 Listed $179,900 MiRealSource-MiMLS
• 2003-07-30 Sold (MLS) $97,000 MiRealSource-MiMLS
• 2003-05-13 Listed $99,900 MiRealSource-MiMLS

Property tax history

+2.7%/yr

Latest (2024): $2,198 · +4.9% YoY. Source: county tax records.