511 N Grant St · Bay City, MI 48708

$89,900

2 bd · 1.0 ba · 960 sqft · SingleFamily public records · 118 Days on market

Built 1900 2,614 sqft lot $94/sqft · at area comps Est $90k · at est. ↓ 22% since listing

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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 +23.3/30.0
• ARV discount +7.7/15.0
• DSCR +7.5/10.0
• 1% rule +6.3/10.0
• 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

Newly renovated historic district home on Grant Street just off Center Ave! New kitchen, painting, tile kitchen and cabinets, bathroom and total interior remodel, while keeping the beautiful hardwood floors! Mostly fenced in backyard. Tall basement with extra storage room and large utility room. Listing agent is related to seller and broker. Listing agent is seller's son, broker is listing agent's uncle and seller is broker's sister.

Key facts

• Tall basement
• New kitchen
• Fenced backyard

Tags

• HISTORIC DISTRICT
• NEW KITCHEN
• HARDWOOD FLOORS
• FENCED BACKYARD
• TALL BASEMENT
• EXTRA STORAGE ROOM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $165 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $82k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 39 units permitted in Bay County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 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.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $25k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $81,809 (9.0% below list)

Questions for the listing agent

1. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% 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: 1.13% ✓
• Cap rate: 8.49%
• Cash-on-cash: 7.86%
• DSCR: 1.35
• GRM: 7.4

CMA / ARV

• ARV (median comp): $90,272
• List price: $89,900
• Delta: -0.41%
• 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
510 N Farragut St	0.07mi	3/1.0 (+1)	1,100 (+15%)	8mo	$90,000	$82	61
610 15th St	0.69mi	3/1.0 (+1)	960 (0%)	3mo	$107,000	$111	60
1010 13th St	0.46mi	2/1.0	1,048 (+9%)	4mo	$65,000	$62	60
217 S Vanburen St	0.50mi	3/1.5 (+1)	1,002 (+4%)	6mo	$10,000	$10	57
115 N Monroe St	0.41mi	3/1.0 (+1)	1,030 (+7%)	12mo	$87,750	$85	54
307 N MCLELLAN St	0.35mi	3/1.5 (+1)	1,089 (+13%)	1mo	$95,000	$87	53
102 N Hampton St	0.51mi	2/1.0	840 (-12%)	5mo	$112,000	$133	51
1110 Chase St	0.65mi	3/1.0 (+1)	1,011 (+5%)	8mo	$115,500	$114	50
1911 15th St	0.71mi	2/1.0	871 (-9%)	2mo	$123,000	$141	50
1009 N Hampton St	0.49mi	3/1.5 (+1)	1,081 (+13%)	0mo	$140,000	$130	48
401 S Hampton St	0.69mi	3/1.0 (+1)	1,100 (+15%)	6mo	$110,000	$100	34
2110 4th St	0.72mi	3/1.0 (+1)	1,104 (+15%)	9mo	$78,000	$71	29

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: -4.3%
• Equity multiple: 0.84×
• Total profit: $-4,046
• Equity at exit: $13,404

10-year hold

• IRR: 5.4%
• Equity multiple: 1.40×
• Total profit: $10,098
• Equity at exit: $7,773

Cash invested: $25,172 (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: 7.4×

Monthly cashflow live

• Estimated rent: $1,018 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$130 /mo · $1,564/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $165

Break-even live

Break-even rent $809

Max offer price $89,900

Occupancy floor 79%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
800 McKinley St Bay City, MI	2.0	1.0	796	$925	$1.16	44d	1	0.09mi
1305 Washington Ave Bay City, MI	2.0	1.0	635	$1,675	$2.64	44d	1	0.68mi
600 18th St Bay City, MI	2.0	1.0	1000	$950	$0.95	44d	1	0.88mi
605 E Jane St Bay City, MI	1.0	1.0	754	$1,650	$2.19	44d	1	1.00mi

Listing history 17 events

1. 2026-06-01
   statusdays on market $89,900 Pending 118 DOM
2. 2026-05-31
   days on market $89,900 Active 117 DOM
3. 2026-05-30
   days on market $89,900 Active 116 DOM
4. 2026-04-24
   price $89,900 439-char remark

   Show marketing remark (439 chars)

   Newly renovated historic district home on Grant Street just off Center Ave! New kitchen, painting, tile kitchen and cabinets, bathroom and total interior remodel, while keeping the beautiful hardwood floors! Mostly fenced in backyard. Tall basement with extra storage room and large utility room. Listing agent is related to seller and broker. Listing agent is seller's son, broker is listing agent's uncle and seller is broker's sister.

5. 2026-04-24
   price $89,900 439-char remark

   Show marketing remark (439 chars)

   Newly renovated historic district home on Grant Street just off Center Ave! New kitchen, painting, tile kitchen and cabinets, bathroom and total interior remodel, while keeping the beautiful hardwood floors! Mostly fenced in backyard. Tall basement with extra storage room and large utility room. Listing agent is related to seller and broker. Listing agent is seller's son, broker is listing agent's uncle and seller is broker's sister.

6. 2026-04-05
   price $94,900 439-char remark

   Show marketing remark (439 chars)

   Newly renovated historic district home on Grant Street just off Center Ave! New kitchen, painting, tile kitchen and cabinets, bathroom and total interior remodel, while keeping the beautiful hardwood floors! Mostly fenced in backyard. Tall basement with extra storage room and large utility room. Listing agent is related to seller and broker. Listing agent is seller's son, broker is listing agent's uncle and seller is broker's sister.

7. 2026-04-05
   price $94,900 439-char remark

   Show marketing remark (439 chars)

   Newly renovated historic district home on Grant Street just off Center Ave! New kitchen, painting, tile kitchen and cabinets, bathroom and total interior remodel, while keeping the beautiful hardwood floors! Mostly fenced in backyard. Tall basement with extra storage room and large utility room. Listing agent is related to seller and broker. Listing agent is seller's son, broker is listing agent's uncle and seller is broker's sister.

8. 2026-03-25
   price $99,900 439-char remark

   Show marketing remark (439 chars)

   Newly renovated historic district home on Grant Street just off Center Ave! New kitchen, painting, tile kitchen and cabinets, bathroom and total interior remodel, while keeping the beautiful hardwood floors! Mostly fenced in backyard. Tall basement with extra storage room and large utility room. Listing agent is related to seller and broker. Listing agent is seller's son, broker is listing agent's uncle and seller is broker's sister.

9. 2026-03-25
   price $99,900 439-char remark

   Show marketing remark (439 chars)

   Newly renovated historic district home on Grant Street just off Center Ave! New kitchen, painting, tile kitchen and cabinets, bathroom and total interior remodel, while keeping the beautiful hardwood floors! Mostly fenced in backyard. Tall basement with extra storage room and large utility room. Listing agent is related to seller and broker. Listing agent is seller's son, broker is listing agent's uncle and seller is broker's sister.

10. 2026-03-13
    status Active 439-char remark

    Show marketing remark (439 chars)

    Newly renovated historic district home on Grant Street just off Center Ave! New kitchen, painting, tile kitchen and cabinets, bathroom and total interior remodel, while keeping the beautiful hardwood floors! Mostly fenced in backyard. Tall basement with extra storage room and large utility room. Listing agent is related to seller and broker. Listing agent is seller's son, broker is listing agent's uncle and seller is broker's sister.

11. 2026-03-13
    status Back on Market 439-char remark

    Show marketing remark (439 chars)

    Newly renovated historic district home on Grant Street just off Center Ave! New kitchen, painting, tile kitchen and cabinets, bathroom and total interior remodel, while keeping the beautiful hardwood floors! Mostly fenced in backyard. Tall basement with extra storage room and large utility room. Listing agent is related to seller and broker. Listing agent is seller's son, broker is listing agent's uncle and seller is broker's sister.

12. 2026-02-16
    status Pending 439-char remark

    Show marketing remark (439 chars)

    Newly renovated historic district home on Grant Street just off Center Ave! New kitchen, painting, tile kitchen and cabinets, bathroom and total interior remodel, while keeping the beautiful hardwood floors! Mostly fenced in backyard. Tall basement with extra storage room and large utility room. Listing agent is related to seller and broker. Listing agent is seller's son, broker is listing agent's uncle and seller is broker's sister.

13. 2026-02-16
    status Pending 439-char remark

    Show marketing remark (439 chars)

    Newly renovated historic district home on Grant Street just off Center Ave! New kitchen, painting, tile kitchen and cabinets, bathroom and total interior remodel, while keeping the beautiful hardwood floors! Mostly fenced in backyard. Tall basement with extra storage room and large utility room. Listing agent is related to seller and broker. Listing agent is seller's son, broker is listing agent's uncle and seller is broker's sister.

14. 2026-01-22
    price $104,900 439-char remark

    Show marketing remark (439 chars)

    Newly renovated historic district home on Grant Street just off Center Ave! New kitchen, painting, tile kitchen and cabinets, bathroom and total interior remodel, while keeping the beautiful hardwood floors! Mostly fenced in backyard. Tall basement with extra storage room and large utility room. Listing agent is related to seller and broker. Listing agent is seller's son, broker is listing agent's uncle and seller is broker's sister.

15. 2026-01-21
    price $104,900 439-char remark

    Show marketing remark (439 chars)

    Newly renovated historic district home on Grant Street just off Center Ave! New kitchen, painting, tile kitchen and cabinets, bathroom and total interior remodel, while keeping the beautiful hardwood floors! Mostly fenced in backyard. Tall basement with extra storage room and large utility room. Listing agent is related to seller and broker. Listing agent is seller's son, broker is listing agent's uncle and seller is broker's sister.

16. 2026-01-10
    listed $114,900 Active 439-char remark

    Show marketing remark (439 chars)

    Newly renovated historic district home on Grant Street just off Center Ave! New kitchen, painting, tile kitchen and cabinets, bathroom and total interior remodel, while keeping the beautiful hardwood floors! Mostly fenced in backyard. Tall basement with extra storage room and large utility room. Listing agent is related to seller and broker. Listing agent is seller's son, broker is listing agent's uncle and seller is broker's sister.

17. 2026-01-09
    listed $114,900 Active 439-char remark

    Show marketing remark (439 chars)

    Newly renovated historic district home on Grant Street just off Center Ave! New kitchen, painting, tile kitchen and cabinets, bathroom and total interior remodel, while keeping the beautiful hardwood floors! Mostly fenced in backyard. Tall basement with extra storage room and large utility room. Listing agent is related to seller and broker. Listing agent is seller's son, broker is listing agent's uncle and seller is broker's sister.

ⓘ 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: $1,564 · $130/mo
• Projected year-2 tax: $1,564 · $130/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥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: $12,213
• − Mortgage interest: −$5,036
• − Property taxes: −$1,564
• − Insurance: −$450
• − Repairs & maintenance: −$977
• − Management: −$977
• − Depreciation: −$2,615
• Taxable income: $594
• Est. tax owed @ 24.0%: −$143
• After-tax cash flow: $1,835/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

-21.8% since first listed

14 events — show timeline

• 2026-04-24 Price Changed $89,900 MiRealSource-MiMLS
• 2026-04-24 Price Changed $89,900 REALCOMP
• 2026-04-05 Price Changed $94,900 MiRealSource-MiMLS
• 2026-04-05 Price Changed $94,900 REALCOMP
• 2026-03-25 Price Changed $99,900 MiRealSource-MiMLS
• 2026-03-25 Price Changed $99,900 REALCOMP
• 2026-03-13 Relisted — REALCOMP
• 2026-03-13 Relisted — MiRealSource-MiMLS
• 2026-02-16 Pending — REALCOMP
• 2026-02-16 Pending — MiRealSource-MiMLS
• 2026-01-22 Price Changed $104,900 MiRealSource-MiMLS
• 2026-01-21 Price Changed $104,900 REALCOMP
• 2026-01-10 Listed $114,900 REALCOMP
• 2026-01-09 Listed $114,900 MiRealSource-MiMLS

Property tax history

-5.2%/yr

Latest (2025): $1,564 · +31.4% YoY. Source: county tax records.