825 N River St · Evart, MI 49631

$99,900

3 bd · 1.0 ba · 860 sqft · SingleFamily · 7 Days on market

Built 1955 0.45 ac lot $116/sqft · 20% below area Est $126k · 20% 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 +16.5/30.0
• ARV discount +15.0/15.0
• DSCR +5.1/10.0
• 1% rule +4.5/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 3 bedroom home is a perfect family home or retirement home! It offers the convenience of being close to town, while the back yard and fire pit give off country living vibes! Features a full basement, 8x22 3 season porch, attached garage and includes 3 lots for an extra large yard. Priced to sell so don't wait to check it out!!This property is now active in an online auction. All offers must be submitted through the property's listing page on www. auction.com. The sale will be subject to a 5% buyer's premium pursuant to the Auction Terms and Conditions (minimums may apply). All auction bids will be processed subject to seller approval.

Key facts

• Extra large yard
• Attached garage
• Full basement

Tags

• FULL BASEMENT
• 3 SEASON PORCH
• ATTACHED GARAGE
• EXTRA LARGE YARD

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Natural gas connected
• Home design: Ranch-style single family residence; One story
• Construction: Built in 1955; Vinyl siding; Composition roof
• Exterior features: Paved road access; 0.45-acre lot

Interior

• Kitchen: Dishwasher; Range
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Additional room (other)
• Bathrooms: 1 full bathroom; Primary bathroom
• Heating & cooling: Forced air heating; Has cooling
• Interior features: 6 total rooms; Full basement
• Laundry & utility: Natural gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $59 ($705/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 $95k (5.1% below list).
• Recommended offer: $95k (5.1% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 3.4% in Evart — 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 72/100 on livability (#262 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, amenities F, commute F.
• Evart Public Schools (rural): math 27% / reading 34% proficiency, ranked #367 of 540 in MI (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 87 active listings in the ZIP; 5 units permitted in Osceola County in 2024 (0 in 5+ unit buildings).

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.
• Osceola County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 11 sale attempts since 13y ago; this cycle's ask has dropped $60k (38%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $53k; list at $100k implies a 88% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $94,830 (5.1% below list)

Questions for the listing agent

1. Built in 1955 — 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: 0.95% ✗
• Cap rate: 7.00%
• Cash-on-cash: 2.52%
• DSCR: 1.11
• GRM: 8.8

CMA / ARV

• ARV (median comp): $125,514
• List price: $99,900
• Delta: -20.41%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
531 N Cherry St	0.38mi	2/1.0 (-1)	900 (+5%)	3mo	$123,900	$138	67
536 N Hemlock St	0.31mi	3/1.0	765 (-11%)	10mo	$125,750	$164	59
844 N Oak St	0.23mi	2/1.0 (-1)	956 (+11%)	11mo	$66,000	$69	56
812 N Cherry St	0.29mi	2/1.0 (-1)	790 (-8%)	21mo	$119,900	$152	50
124 N Cherry	0.67mi	2/1.5 (-1)	912 (+6%)	8mo	$35,000	$38	45
8741 Oak Rd	0.59mi	3/2.0	960 (+12%)	11mo	$225,000	$234	40
601 W Fifth St	0.62mi	2/1.0 (-1)	928 (+8%)	16mo	$68,000	$73	39
116 E 8th St	0.75mi	2/1.0 (-1)	957 (+11%)	3mo	$136,088	$142	39

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: -12.3%
• Equity multiple: 0.56×
• Total profit: $-12,431
• Equity at exit: $14,895

10-year hold

• IRR: -3.2%
• Equity multiple: 0.79×
• Total profit: $-5,946
• 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 49631

• Home prices YoY: -9.8%
• Active inventory: 87
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $948 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,498/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$199
• Net cashflow: $59

Break-even live

Break-even rent $874

Max offer price $99,900

Occupancy floor 89%

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 34 events

1. 2026-05-12
   historical
2. 2026-05-11
   historical
3. 2026-04-27
   price $99,900
4. 2026-04-27
   price $99,900
5. 2026-04-27
   price $99,900
6. 2026-04-01
   price $114,900
7. 2026-03-31
   price $114,900
8. 2026-03-31
   price $114,900
9. 2026-03-19
   status Active
10. 2026-03-19
    status Active
11. 2026-03-09
    historical Active Under Contract
12. 2026-03-09
    historical Accepting Backup Offers
13. 2026-02-18
    price $124,900
14. 2026-02-17
    price $124,900
15. 2026-02-17
    price $124,900
16. 2026-01-20
    price $139,900
17. 2026-01-19
    price $139,900
18. 2026-01-19
    price $139,900
19. 2025-12-19
    price $149,900
20. 2025-12-19
    price $149,900
21. 2025-12-19
    price $149,900
22. 2025-11-13
    listed $159,900 Active

    Show marketing remark (649 chars)

    This 3 bedroom home is a perfect family home or retirement home! It offers the convenience of being close to town, while the back yard and fire pit give off country living vibes! Features a full basement, 8x22 3 season porch, attached garage and includes 3 lots for an extra large yard. Priced to sell so don't wait to check it out!!This property is now active in an online auction. All offers must be submitted through the property's listing page on www. auction.com. The sale will be subject to a 5% buyer's premium pursuant to the Auction Terms and Conditions (minimums may apply). All auction bids will be processed subject to seller approval.

23. 2025-11-13
    listed $159,900 Active

    Show marketing remark (649 chars)

    This 3 bedroom home is a perfect family home or retirement home! It offers the convenience of being close to town, while the back yard and fire pit give off country living vibes! Features a full basement, 8x22 3 season porch, attached garage and includes 3 lots for an extra large yard. Priced to sell so don't wait to check it out!!This property is now active in an online auction. All offers must be submitted through the property's listing page on www. auction.com. The sale will be subject to a 5% buyer's premium pursuant to the Auction Terms and Conditions (minimums may apply). All auction bids will be processed subject to seller approval.

24. 2025-11-13
    listed $99,900 Active

    Show marketing remark (649 chars)

    This 3 bedroom home is a perfect family home or retirement home! It offers the convenience of being close to town, while the back yard and fire pit give off country living vibes! Features a full basement, 8x22 3 season porch, attached garage and includes 3 lots for an extra large yard. Priced to sell so don't wait to check it out!!This property is now active in an online auction. All offers must be submitted through the property's listing page on www. auction.com. The sale will be subject to a 5% buyer's premium pursuant to the Auction Terms and Conditions (minimums may apply). All auction bids will be processed subject to seller approval.

25. 2025-11-13
    listed $99,900 Active

    Show marketing remark (649 chars)

    This 3 bedroom home is a perfect family home or retirement home! It offers the convenience of being close to town, while the back yard and fire pit give off country living vibes! Features a full basement, 8x22 3 season porch, attached garage and includes 3 lots for an extra large yard. Priced to sell so don't wait to check it out!!This property is now active in an online auction. All offers must be submitted through the property's listing page on www. auction.com. The sale will be subject to a 5% buyer's premium pursuant to the Auction Terms and Conditions (minimums may apply). All auction bids will be processed subject to seller approval.

26. 2025-11-13
    listed $99,900 Active

    Show marketing remark (649 chars)

    This 3 bedroom home is a perfect family home or retirement home! It offers the convenience of being close to town, while the back yard and fire pit give off country living vibes! Features a full basement, 8x22 3 season porch, attached garage and includes 3 lots for an extra large yard. Priced to sell so don't wait to check it out!!This property is now active in an online auction. All offers must be submitted through the property's listing page on www. auction.com. The sale will be subject to a 5% buyer's premium pursuant to the Auction Terms and Conditions (minimums may apply). All auction bids will be processed subject to seller approval.

27. 2017-09-07
    historical
28. 2017-03-07
    listed $78,900
29. 2017-03-05
    historical
30. 2016-07-13
    listed $78,900
31. 2015-07-15
    soldstatus $53,200
32. 2015-07-15
    soldstatus $53,200
33. 2013-10-29
    listed $59,900
34. 2013-10-29
    listed $59,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $11,380
• − Mortgage interest: −$5,596
• − Property taxes: −$1,498
• − Insurance: −$500
• − Repairs & maintenance: −$910
• − Management: −$910
• − Depreciation: −$2,906
• Taxable loss: −$941
• Est. tax savings @ 24.0%: +$226
• After-tax cash flow: $931/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: Evart Public Schools
• NCES district ID: 2613560
• Math proficiency: 27% ▲ 2.00%
• Reading proficiency: 34% ▬ 0.00%
• Median HH income: $37,734
• Composite: 25.42/100
• National rank: #7455
• State rank: #367 of 540 in MI

Livability — Evart

• Score: 72/100
• State rank: #262
• US rank: #6440

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Evart, MI
• Population (ZIP): 5,646

Population outlook (Osceola County) Hauer SSP2

• Today (2025): 21,724 people
• By 2030: 20,769 · -4.4%
• By 2040: 18,720 · -13.8%
• By 2050: 16,611 · -23.5%
• By 2075: 11,942 · -45.0%
• By 2100: 7,546 · -65.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Iranian 5% Romanian 4% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1% Tagalog/Filipino 0%

Political lean MEDSL · Osceola

• 2024 margin: Solid R (+47.9) · D 25.2% · R 73.1% · Other 1.7%
• 2008→2024 swing: -37.7pp toward R · 2008: -10.1pp · 2024: -47.9pp
• All cycles: 2024: R+47.9 2020: R+46.3 2016: R+43.7 2012: R+21.0 2008: R+10.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -30.25%
• Current HPI: 277.6004
• 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

+66.8% since first listed

37 events — show timeline

• 2026-05-19 Pending — MiRealSource-MiMLS
• 2026-05-19 Pending — REALCOMP
• 2026-05-19 Pending — SW Michigan MLS
• 2026-05-12 Listing Removed — MiRealSource-MiMLS
• 2026-05-11 Listing Removed — REALCOMP
• 2026-04-27 Price Changed $99,900 MiRealSource-MiMLS
• 2026-04-27 Price Changed $99,900 REALCOMP
• 2026-04-27 Price Changed $99,900 SW Michigan MLS
• 2026-04-01 Price Changed $114,900 MiRealSource-MiMLS
• 2026-03-31 Price Changed $114,900 REALCOMP
• 2026-03-31 Price Changed $114,900 SW Michigan MLS
• 2026-03-19 Relisted — REALCOMP
• 2026-03-19 Relisted — MiRealSource-MiMLS
• 2026-03-09 Contingent — REALCOMP
• 2026-03-09 Contingent — MiRealSource-MiMLS
• 2026-02-18 Price Changed $124,900 MiRealSource-MiMLS
• 2026-02-17 Price Changed $124,900 REALCOMP
• 2026-02-17 Price Changed $124,900 SW Michigan MLS
• 2026-01-20 Price Changed $139,900 MiRealSource-MiMLS
• 2026-01-19 Price Changed $139,900 REALCOMP
• 2026-01-19 Price Changed $139,900 SW Michigan MLS
• 2025-12-19 Price Changed $149,900 MiRealSource-MiMLS
• 2025-12-19 Price Changed $149,900 REALCOMP
• 2025-12-19 Price Changed $149,900 SW Michigan MLS
• 2025-11-13 Listed $159,900 REALCOMP
• 2025-11-13 Listed $159,900 MiRealSource-MiMLS
• 2025-11-13 Listed $99,900 SW Michigan MLS
• 2025-11-13 Listed $99,900 REALCOMP
• 2025-11-13 Listed $99,900 MiRealSource-MiMLS
• 2017-09-07 Listing Removed — REALCOMP
• 2017-03-07 Listed $78,900 REALCOMP
• 2017-03-05 Listing Removed — REALCOMP
• 2016-07-13 Listed $78,900 REALCOMP
• 2015-07-15 Sold (MLS) $53,200 SW Michigan MLS
• 2015-07-15 Sold (MLS) $53,200 REALCOMP
• 2013-10-29 Listed $59,900 SW Michigan MLS
• 2013-10-29 Listed $59,900 REALCOMP