413 Franklin St · Bay City, MI 48708

$99,900

3 bd · 2.0 ba · 2,014 sqft · SingleFamily public records · 262 Days on market

Built 1900 4,792 sqft lot $50/sqft · at area comps Est $98k · at est.

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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
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• ARV discount +6.6/15.0
• Livability +3.4/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious Historic Home with Modern Updates Built in 1900, this Bay City home combines timeless character with thoughtful updates. Offering four bedrooms plus a large den that could serve as a fifth bedroom, there is plenty of room for everyone as well as ample storage throughout. The main level features convenient laundry, hardwood floors in the kitchen and dining areas, and a spacious layout filled with natural light. Recent updates include a super-efficient hydronic hot water heating system, updated electrical and plumbing, remodeled bathrooms, and vinyl windows. Located just blocks from downtown Bay City’s shops, restaurants, and the waterfront, this property blends historic charm with modern comfort.

Key facts

• Convenient laundry
• Large den
• Modern updates

Tags

• HISTORIC HOME
• MODERN UPDATES
• LARGE DEN
• CONVENIENT LAUNDRY
• HARDWOOD FLOORS
• NATURAL LIGHT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $378 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 5.5% in Bay City — 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 68/100 on livability (#360 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, amenities D, crime F.
• Bay City School District (urban): math 27% / reading 40% proficiency, ranked #317 of 540 in MI (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 148 active listings in the ZIP; 39 units permitted in Bay County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Bay County population projected at -21% 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 $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 262 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 15y ago; this cycle's ask has dropped $40k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $62k; list at $100k implies a 61% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 262 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 1900 — 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 D-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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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: 1.35% ✓
• Cap rate: 10.83%
• Cash-on-cash: 16.22%
• DSCR: 1.72
• GRM: 6.2

CMA / ARV

• ARV (median comp): $97,899
• List price: $99,900
• Delta: 2.04%
• 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
809 19th St	0.26mi	4/1.5 (+1)	1,912 (-5%)	5mo	$110,000	$58	69
722 S Van Buren St	0.47mi	4/2.0 (+1)	1,830 (-9%)	0mo	$169,900	$93	58
301 N VanBuren St	0.69mi	4/2.0 (+1)	2,014 (0%)	7mo	$158,000	$78	57
409 McCormick St	0.63mi	4/1.0 (+1)	2,032 (+1%)	10mo	$92,962	$46	52
321 Stanton St	0.52mi	3/1.5	1,756 (-13%)	3mo	$173,000	$99	50
709 S Vanburen St	0.48mi	4/1.0 (+1)	1,848 (-8%)	7mo	$106,000	$57	49
808 13th St	0.48mi	3/1.5	1,840 (-9%)	15mo	$82,000	$45	49
814 S Farragut St	0.59mi	4/2.0 (+1)	1,892 (-6%)	12mo	$129,000	$68	48
1200 Fitzhugh St	0.43mi	3/1.0	1,716 (-15%)	5mo	$47,500	$28	47
1014 S Farragut St	0.69mi	4/2.0 (+1)	1,862 (-8%)	8mo	$161,000	$86	44
234 N Jackson St	0.60mi	3/2.0	1,739 (-14%)	10mo	$100,000	$58	41
1410 19th St	0.62mi	4/1.0 (+1)	2,280 (+13%)	11mo	$99,000	$43	30

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: 7.2%
• Equity multiple: 1.28×
• Total profit: $7,905
• Equity at exit: $14,895

10-year hold

• IRR: 16.6%
• Equity multiple: 2.36×
• Total profit: $37,955
• Equity at exit: $8,638

Cash invested: $27,972 (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 48708

• Home prices YoY: -30.9%
• Active inventory: 148
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,346 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$120 /mo · $1,436/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $378

Break-even live

Break-even rent $867

Max offer price $99,900

Occupancy floor 67%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 39 events

1. 2026-06-19
   days on market $99,900 Active 262 DOM
2. 2026-06-18
   days on market $99,900 Active 261 DOM
3. 2026-06-17
   days on market $99,900 Active 260 DOM
4. 2026-06-16
   days on market $99,900 Active 259 DOM
5. 2026-06-15
   days on market $99,900 Active 258 DOM
6. 2026-06-14
   days on market $99,900 Active 256 DOM
7. 2026-06-12
   days on market $99,900 Active 255 DOM
8. 2026-06-09
   days on market $99,900 Active 252 DOM
9. 2026-06-08
   days on market $99,900 Active 251 DOM
10. 2026-06-07
    days on market $99,900 Active 250 DOM
11. 2026-06-05
    days on market $99,900 Active 247 DOM
12. 2026-06-03
    days on market $99,900 Active 246 DOM
13. 2026-06-02
    days on market $99,900 Active 245 DOM
14. 2026-06-01
    days on market $99,900 Active 244 DOM
15. 2026-05-31
    days on market $99,900 Active 243 DOM
16. 2026-05-30
    days on market $99,900 Active 242 DOM
17. 2026-05-01
    price $99,900 719-char remark

    Show marketing remark (713 chars)

    Spacious Historic Home with Modern Updates Built in 1900, this Bay City home combines timeless character with thoughtful updates. Offering four bedrooms plus a large den that could serve as a fifth bedroom, there is plenty of room for everyone as well as ample storage throughout. The main level features convenient laundry, hardwood floors in the kitchen and dining areas, and a spacious layout filled with natural light. Recent updates include a super-efficient hydronic hot water heating system, updated electrical and plumbing, remodeled bathrooms, and vinyl windows. Located just blocks from downtown Bay City's shops, restaurants, and the waterfront, this property blends historic charm with modern comfort.

18. 2026-05-01
    price $99,900 713-char remark

    Show marketing remark (713 chars)

    Spacious Historic Home with Modern Updates Built in 1900, this Bay City home combines timeless character with thoughtful updates. Offering four bedrooms plus a large den that could serve as a fifth bedroom, there is plenty of room for everyone as well as ample storage throughout. The main level features convenient laundry, hardwood floors in the kitchen and dining areas, and a spacious layout filled with natural light. Recent updates include a super-efficient hydronic hot water heating system, updated electrical and plumbing, remodeled bathrooms, and vinyl windows. Located just blocks from downtown Bay City's shops, restaurants, and the waterfront, this property blends historic charm with modern comfort.

19. 2026-03-24
    price $109,900 719-char remark

    Show marketing remark (713 chars)

    Spacious Historic Home with Modern Updates Built in 1900, this Bay City home combines timeless character with thoughtful updates. Offering four bedrooms plus a large den that could serve as a fifth bedroom, there is plenty of room for everyone as well as ample storage throughout. The main level features convenient laundry, hardwood floors in the kitchen and dining areas, and a spacious layout filled with natural light. Recent updates include a super-efficient hydronic hot water heating system, updated electrical and plumbing, remodeled bathrooms, and vinyl windows. Located just blocks from downtown Bay City's shops, restaurants, and the waterfront, this property blends historic charm with modern comfort.

20. 2026-03-24
    price $109,900 713-char remark

    Show marketing remark (713 chars)

    Spacious Historic Home with Modern Updates Built in 1900, this Bay City home combines timeless character with thoughtful updates. Offering four bedrooms plus a large den that could serve as a fifth bedroom, there is plenty of room for everyone as well as ample storage throughout. The main level features convenient laundry, hardwood floors in the kitchen and dining areas, and a spacious layout filled with natural light. Recent updates include a super-efficient hydronic hot water heating system, updated electrical and plumbing, remodeled bathrooms, and vinyl windows. Located just blocks from downtown Bay City's shops, restaurants, and the waterfront, this property blends historic charm with modern comfort.

21. 2026-02-26
    price $119,900 719-char remark

    Show marketing remark (719 chars)

    Spacious Historic Home with Modern Updates Built in 1900, this Bay City home combines timeless character with thoughtful updates. Offering four bedrooms plus a large den that could serve as a fifth bedroom, there is plenty of room for everyone as well as ample storage throughout. The main level features convenient laundry, hardwood floors in the kitchen and dining areas, and a spacious layout filled with natural light. Recent updates include a super-efficient hydronic hot water heating system, updated electrical and plumbing, remodeled bathrooms, and vinyl windows. Located just blocks from downtown Bay City’s shops, restaurants, and the waterfront, this property blends historic charm with modern comfort.

22. 2026-02-25
    price $119,900 713-char remark

    Show marketing remark (713 chars)

    Spacious Historic Home with Modern Updates Built in 1900, this Bay City home combines timeless character with thoughtful updates. Offering four bedrooms plus a large den that could serve as a fifth bedroom, there is plenty of room for everyone as well as ample storage throughout. The main level features convenient laundry, hardwood floors in the kitchen and dining areas, and a spacious layout filled with natural light. Recent updates include a super-efficient hydronic hot water heating system, updated electrical and plumbing, remodeled bathrooms, and vinyl windows. Located just blocks from downtown Bay City's shops, restaurants, and the waterfront, this property blends historic charm with modern comfort.

23. 2025-10-11
    price $129,900 719-char remark

    Show marketing remark (719 chars)

    Spacious Historic Home with Modern Updates Built in 1900, this Bay City home combines timeless character with thoughtful updates. Offering four bedrooms plus a large den that could serve as a fifth bedroom, there is plenty of room for everyone as well as ample storage throughout. The main level features convenient laundry, hardwood floors in the kitchen and dining areas, and a spacious layout filled with natural light. Recent updates include a super-efficient hydronic hot water heating system, updated electrical and plumbing, remodeled bathrooms, and vinyl windows. Located just blocks from downtown Bay City’s shops, restaurants, and the waterfront, this property blends historic charm with modern comfort.

24. 2025-10-10
    price $129,900 713-char remark

    Show marketing remark (713 chars)

    Spacious Historic Home with Modern Updates Built in 1900, this Bay City home combines timeless character with thoughtful updates. Offering four bedrooms plus a large den that could serve as a fifth bedroom, there is plenty of room for everyone as well as ample storage throughout. The main level features convenient laundry, hardwood floors in the kitchen and dining areas, and a spacious layout filled with natural light. Recent updates include a super-efficient hydronic hot water heating system, updated electrical and plumbing, remodeled bathrooms, and vinyl windows. Located just blocks from downtown Bay City's shops, restaurants, and the waterfront, this property blends historic charm with modern comfort.

25. 2025-09-30
    listed $139,900 Active 713-char remark

    Show marketing remark (713 chars)

    Spacious Historic Home with Modern Updates Built in 1900, this Bay City home combines timeless character with thoughtful updates. Offering four bedrooms plus a large den that could serve as a fifth bedroom, there is plenty of room for everyone as well as ample storage throughout. The main level features convenient laundry, hardwood floors in the kitchen and dining areas, and a spacious layout filled with natural light. Recent updates include a super-efficient hydronic hot water heating system, updated electrical and plumbing, remodeled bathrooms, and vinyl windows. Located just blocks from downtown Bay City's shops, restaurants, and the waterfront, this property blends historic charm with modern comfort.

26. 2025-09-29
    listed $139,900 Active 719-char remark

    Show marketing remark (719 chars)

    Spacious Historic Home with Modern Updates Built in 1900, this Bay City home combines timeless character with thoughtful updates. Offering four bedrooms plus a large den that could serve as a fifth bedroom, there is plenty of room for everyone as well as ample storage throughout. The main level features convenient laundry, hardwood floors in the kitchen and dining areas, and a spacious layout filled with natural light. Recent updates include a super-efficient hydronic hot water heating system, updated electrical and plumbing, remodeled bathrooms, and vinyl windows. Located just blocks from downtown Bay City’s shops, restaurants, and the waterfront, this property blends historic charm with modern comfort.

27. 2020-07-29
    soldstatus $62,000
28. 2020-07-27
    soldstatus $62,000
29. 2020-03-15
    listed $64,900
30. 2013-08-01
    soldstatus $16,500
31. 2012-08-31
    listed $21,676
32. 2012-08-06
    historical
33. 2012-08-06
    historical
34. 2012-02-06
    listed $23,500
35. 2012-02-06
    listed $23,500
36. 2011-06-23
    soldstatus $15,000
37. 2011-06-23
    soldstatus $15,000
38. 2011-04-28
    listed $35,920
39. 2011-04-28
    listed $35,920

ⓘ 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: $1,436 · $120/mo
• Projected year-2 tax: $1,487 · $124/mo
• Expected delta: +$51/yr (+$4/mo · 3.6%)

ⓘ 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,150
• − Mortgage interest: −$5,596
• − Property taxes: −$1,436
• − Insurance: −$500
• − Repairs & maintenance: −$1,292
• − Management: −$1,292
• − Depreciation: −$2,906
• Taxable income: $3,128
• Est. tax owed @ 24.0%: −$751
• After-tax cash flow: $3,785/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: Bay City School District
• NCES district ID: 2604260
• Math proficiency: 27% ▼ -8.00%
• Reading proficiency: 40% ▼ -4.00%
• Median HH income: $43,833
• Composite: 28.47/100
• National rank: #6743
• State rank: #317 of 540 in MI

Livability — Bay City

• Score: 68/100
• State rank: #360
• US rank: #8912

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bay City, MI
• County: Bay County · 36,975 people
• City population: 25,635
• Metro: Bay City, MI
• Population (ZIP): 25,635
• Household income: $50,518
• Rent vs Own: 29.9% rent · 70.1% own
• Severe rent burden: 528.0

Population outlook (Bay County) Hauer SSP2

• Today (2025): 101,476 people
• By 2030: 98,152 · -3.3%
• By 2040: 89,711 · -11.6%
• By 2050: 80,614 · -20.6%
• By 2075: 60,544 · -40.3%
• By 2100: 41,603 · -59.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 11% Two or more races 10% Black 3%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Romanian 17% Lithuanian 7% Slovak 2%
• Foreign-born: 2% · Canada, South Korea
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Bay

• 2024 margin: R (+14.7) · D 42.0% · R 56.7% · Other 1.3%
• 2008→2024 swing: -30.0pp toward R · 2008: 15.3pp · 2024: -14.7pp
• All cycles: 2024: R+14.7 2020: R+11.6 2016: R+12.6 2012: D+6.0 2008: D+15.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -82.21%
• Current HPI: 183.5774
• Rent YoY: —
• Metro: Bay City, 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

+178.1% since first listed

23 events — show timeline

• 2026-05-01 Price Changed $99,900 MiRealSource-MiMLS
• 2026-05-01 Price Changed $99,900 REALCOMP
• 2026-03-24 Price Changed $109,900 MiRealSource-MiMLS
• 2026-03-24 Price Changed $109,900 REALCOMP
• 2026-02-26 Price Changed $119,900 MiRealSource-MiMLS
• 2026-02-25 Price Changed $119,900 REALCOMP
• 2025-10-11 Price Changed $129,900 MiRealSource-MiMLS
• 2025-10-10 Price Changed $129,900 REALCOMP
• 2025-09-30 Listed $139,900 REALCOMP
• 2025-09-29 Listed $139,900 MiRealSource-MiMLS
• 2020-07-29 Sold (Public Records) $62,000 Public Records
• 2020-07-27 Sold (MLS) $62,000 MiRealSource-MiMLS
• 2020-03-15 Listed $64,900 MiRealSource-MiMLS
• 2013-08-01 Sold (Public Records) $16,500 Public Records
• 2012-08-31 Listed $21,676 REALCOMP
• 2012-08-06 Listing Removed — REALCOMP
• 2012-08-06 Listing Removed — MiRealSource-MiMLS
• 2012-02-06 Listed $23,500 REALCOMP
• 2012-02-06 Listed $23,500 MiRealSource-MiMLS
• 2011-06-23 Sold (MLS) $15,000 REALCOMP
• 2011-06-23 Sold (MLS) $15,000 MiRealSource-MiMLS
• 2011-04-28 Listed $35,920 REALCOMP
• 2011-04-28 Listed $35,920 MiRealSource-MiMLS

Property tax history

-5.3%/yr

Latest (2025): $1,436 · -15.2% YoY. Source: county tax records.