2705 Washington St · Midland, MI 48642

$200,000

3 bd · 1.5 ba · 1,156 sqft · SingleFamily public records · 7 Days on market

Built 1954 9,148 sqft lot Est $186k · 7% over

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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).

• Cash flow +12.1/30.0
• Schools +4.9/10.0
• Livability +4.2/5.0
• ARV discount +4.1/15.0
• DSCR +3.6/10.0
• 1% rule +3.1/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

I know, the photos are maybe a little vanilla. They may not stop your scroll. Painted cabinets. Simple kitchen. Standard everything on the surface. But here's what I've learned after years of selling homes in mid-Michigan: the most expensive stuff is invisible. You don't see a new roof with a lifetime warranty. You don't see a 2024 furnace. You don't see a waterproofed basement or updated windows or a central air system that actually works. You feel them. In your utility bills. In your peace of mind at 2am during a Michigan winter. In the offer you don't have to write asking the seller to fix things. What it doesn't have is a kitchen that'll end up on HGTV. The cabinets are painted (likely birch underneath) and perfectly fine. The kitchen is efficient, which is a word I use for "small but smart. " There's not a single wasted inch, and honestly, why sink money into granite before the furnace, the roof, the windows, and the basement have already been handled? Well, now you can. Downstairs, there's a waterproofed basement with a family room waiting to happen, complete with knotty pine. That's equity you build on your timeline, not the seller's. Outside, the yard is fenced, has a patio, and is small enough that you'll actually enjoy it instead of spending every weekend maintaining it. That's not a flaw. That's a feature. Three bedrooms. Two baths. Two-car garage. Neat. Solid. Ready. This 1950s ranch has all of it. Done. Paid for. Warranted. Take the rose-colored goggles off and put on your math glasses. Everything expensive is done. The rest is cosmetic. And that is the fun part!

Key facts

• Fenced yard
• Updated windows
• 2024 furnace

Tags

• 2024 FURNACE
• WATERPROOFED BASEMENT
• UPDATED WINDOWS
• CENTRAL AIR SYSTEM
• FENCED YARD
• PATIO

Property features AI

Finance

• Other: Located in the RONANS ADD subdivision; cross streets Airfield and Cambridge
• HOA & community: Homeowners association present

Exterior

• Parking: Attached garage with garage door opener; Approximately 2.5 garage spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level
• Construction: Vinyl siding; Block foundation; Built with a shingle roof (not specified in data)
• Exterior features: Patio; Fenced yard; Corner lot (132 x 70, 0.21 acres)

Interior

• Kitchen: Includes microwave, oven, refrigerator, range
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating (natural gas)
• Interior features: Dryer, Washer, Microwave, Oven, Refrigerator, Range; Full basement; partially finished with block foundation
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-43 ($-521/yr) — negative.
• To cash-flow at today's rent, offer at most $192k (3.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $162k (18.9% below list).
• Recommended offer: $162k (18.9% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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; 95 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 $6k 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

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 11y 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.
• Current owner paid $87k; list at $200k implies a 130% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $162,262 (18.9% 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. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.81% ✗
• Cap rate: 6.03%
• Cash-on-cash: -0.93%
• DSCR: 0.96
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $186,116
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2212 Virginia St	0.41mi	3/1.0	1,124 (-3%)	2mo	$188,500	$168	72
3619 Concord St	0.55mi	3/1.0	1,178 (+2%)	2mo	$190,000	$161	68
3205 Washington St	0.34mi	3/1.0	1,016 (-12%)	8mo	$143,000	$141	56
2531 Jefferson Ave	0.53mi	2/1.0 (-1)	1,090 (-6%)	6mo	$140,000	$128	54
1020 Wyllys St	0.21mi	2/2.0 (-1)	1,328 (+15%)	11mo	$195,000	$147	49
2918 Braley Ct	0.65mi	3/1.0	1,256 (+9%)	8mo	$210,000	$167	46
320 W Nickels St	0.73mi	3/1.0	1,244 (+8%)	6mo	$250,000	$201	46
1109 Corrinne St	0.47mi	3/1.0	1,008 (-13%)	11mo	$169,900	$169	45
1915 Ivy Ln	0.70mi	3/2.0	1,248 (+8%)	11mo	$220,000	$176	43
1613 E Sugnet Rd	0.71mi	3/1.0	1,092 (-6%)	17mo	$160,000	$147	42
1108 Baldwin St	0.62mi	4/2.0 (+1)	1,236 (+7%)	15mo	$175,000	$142	40
1805 Rapanos Dr	0.61mi	2/1.5 (-1)	1,272 (+10%)	11mo	$205,000	$161	40

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: -20.4%
• Equity multiple: 0.30×
• Total profit: $-39,012
• Equity at exit: $29,821

10-year hold

• IRR: -19.7%
• Equity multiple: 0.06×
• Total profit: $-52,540
• Equity at exit: $17,292

Cash invested: $56,000 (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: 95
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,623 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$193 /mo · $2,318/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $-43

Break-even live

Break-even rent $1,678

Max offer price $192,328

Occupancy floor 98%

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: $50,000
• Closing costs: $6,000
• 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	0.85mi

Listing history 7 events

1. 2026-06-19
   days on market $200,000 Active 7 DOM
2. 2026-06-18
   days on market $200,000 Active 6 DOM
3. 2026-06-17
   days on market $200,000 Active 5 DOM
4. 2026-06-16
   days on market $200,000 Active 4 DOM
5. 2026-06-15
   days on market $200,000 Active 3 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $200,000 Active 1 DOM

ⓘ 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: $2,318 · $193/mo
• Projected year-2 tax: $2,699 · $225/mo
• Expected delta: +$381/yr (+$32/mo · 16.4%)

ⓘ 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 ≥98°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: $19,471
• − Mortgage interest: −$11,203
• − Property taxes: −$2,318
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,558
• − Management: −$1,558
• − Depreciation: −$5,818
• Taxable loss: −$3,983
• Est. tax savings @ 24.0%: +$956
• After-tax cash flow: $435/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

+110.5% since first listed

16 events — show timeline

• 2026-06-12 Listed $200,000 MiRealSource-MiMLS
• 2026-06-12 Listed $200,000 REALCOMP
• 2016-08-18 Sold (Public Records) $87,000 Public Records
• 2016-08-15 Sold (MLS) $87,000 MiRealSource-MiMLS
• 2016-08-15 Sold (MLS) $87,000 MiRealSource-MiMLS
• 2016-08-15 Sold (MLS) $87,000 REALCOMP
• 2016-07-25 Listed $89,900 MiRealSource-MiMLS
• 2016-07-25 Listed $89,900 REALCOMP
• 2016-07-22 Listed $89,900 MiRealSource-MiMLS
• 2015-10-22 Listing Removed — MiRealSource-MiMLS
• 2015-10-22 Listing Removed — REALCOMP
• 2015-05-18 Listing Removed — MiRealSource-MiMLS
• 2015-04-24 Listed $89,900 MiRealSource-MiMLS
• 2015-04-23 Listed $89,900 MiRealSource-MiMLS
• 2015-04-23 Listed $89,900 REALCOMP
• 2011-10-25 Sold (Public Records) $95,000 Public Records

Property tax history

+4.2%/yr

Latest (2024): $2,318 · +4.9% YoY. Source: county tax records.