804 Woodworth Ave · Alma, MI 48801

$169,000

4 bd · 1.5 ba · 1,891 sqft · SingleFamily · 68 Days on market

Built 1900 10,454 sqft lot $89/sqft · at area comps Est $176k · at est.

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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 +13.7/30.0
• ARV discount +9.3/15.0
• DSCR +4.1/10.0
• 1% rule +3.8/10.0
• Livability +3.5/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step into this charming turn-of-the-century two-story home offering nearly 1,900 square feet of living space. With 4 bedrooms and 1.5 baths, this home blends classic character with everyday comfort. You’ll love the original hardwood floors, antique doors, and rich oak trim that give the home a warm, timeless feel. The layout provides plenty of space for both relaxing and entertaining. Outside, you’ll find a concrete driveway, a detached two-car garage, and a great outdoor deck and patio area—perfect for gatherings or quiet evenings at home. The fenced backyard adds privacy and space for pets, play, or gardening. Located in a desirable neighborhood just north of downtown Alma, this home is only a short distance from shopping, dining, and entertainment. It’s a great opportunity to own a home full of character in a convenient location.

Key facts

• Rich oak trim
• Outdoor deck
• Antique doors

Tags

• ORIGINAL HARDWOOD FLOORS
• ANTIQUE DOORS
• RICH OAK TRIM
• CONCRETE DRIVEWAY
• DETACHED TWO-CAR GARAGE
• OUTDOOR DECK

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $169k.

Deal economics

• At list price, monthly cash flow is $13 ($157/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 $149k (11.5% below list).
• Recommended offer: $149k (11.5% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 4.2% in Alma — 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 69/100 on livability (#345 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, amenities F, commute F.
• Alma Public Schools (town): math 28% / reading 44% proficiency, ranked #288 of 540 in MI (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Luce Road Elementary School (304 students, 72% FRL); Donald L Pavlik Middle School (math 27% / reading 45%, grade F, #269 of 493 statewide, top 56%, 449 students, 69% FRL); Alma Senior High School (math 27% / reading 62%, grade F, #214 of 713 statewide, top 36%, 558 students, 59% FRL) — zoned schools average 66% FRL vs 49% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 89 active listings in the ZIP; 47 units permitted in Gratiot County in 2024 (0 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.
• Gratiot County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($159k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 7y ago; this cycle's ask has dropped $20k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $95k; list at $169k implies a 78% 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 $149,489 (11.5% below list)

Questions for the listing agent

1. It's been on market 68 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. Crime grade is D 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?
6. 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?
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: 0.88% ✗
• Cap rate: 6.39%
• Cash-on-cash: 0.33%
• DSCR: 1.01
• GRM: 9.4

CMA / ARV

• ARV (median comp): $175,885
• List price: $169,000
• Delta: -3.91%
• 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
121 E End St	0.08mi	4/2.0	1,907 (+1%)	1mo	$260,000	$136	92
207 W End St	0.20mi	4/1.5	1,836 (-3%)	3mo	$190,000	$103	84
620 N State St	0.16mi	4/2.0	1,905 (+1%)	12mo	$259,900	$136	79
610 Woodworth Ave	0.16mi	4/2.5	1,961 (+4%)	20mo	$227,500	$116	66
716 Woodworth Ave	0.05mi	4/2.0	1,617 (-14%)	10mo	$195,000	$121	63
909 River Ave	0.23mi	3/2.0 (-1)	1,740 (-8%)	9mo	$156,000	$90	61
309 Walnut	0.13mi	4/2.0	1,626 (-14%)	14mo	$168,000	$103	56
614 N River	0.29mi	3/2.0 (-1)	1,802 (-5%)	23mo	$166,500	$92	52
985 FALKIRK Rd	0.71mi	3/2.0 (-1)	1,974 (+4%)	13mo	$200,000	$101	41
416 Mechanic St	0.67mi	5/2.0 (+1)	2,014 (+6%)	17mo	$130,000	$65	37
115 S State St	0.73mi	3/1.0 (-1)	2,144 (+13%)	1mo	$160,000	$75	36
252 Ely St	0.71mi	3/1.5 (-1)	1,768 (-6%)	22mo	$123,715	$70	33

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: -15.8%
• Equity multiple: 0.44×
• Total profit: $-26,532
• Equity at exit: $25,198

10-year hold

• IRR: -7.3%
• Equity multiple: 0.54×
• Total profit: $-21,942
• Equity at exit: $14,612

Cash invested: $47,320 (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 48801

• Home prices YoY: -32.0%
• Active inventory: 89
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,495 medium
• Mortgage (P&I): −$886
• Tax est. 1.5%: −$211 /mo · $2,535/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $13

Break-even live

Break-even rent $1,478

Max offer price $169,000

Occupancy floor 94%

Sensitivity live

Price	-10% $130	-5% $71	+0% $13	+5% $-45	+10% $-104
Rent	-10% $-105	-5% $-46	+0% $13	+5% $72	+10% $131
Rate	-1.0pp $98	-0.5pp $56	base $13	+0.5pp $-31	+1.0pp $-75

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-21
   days on market $169,000 Active 68 DOM
2. 2026-06-21
   days on market $169,000 Active 67 DOM
3. 2026-06-18
   days on market $169,000 Active 65 DOM
4. 2026-06-18
   pricestatus $169,000 Active 64 DOM
5. 2026-06-17
   days on market $179,000 Active Under Contract 64 DOM
6. 2026-06-16
   days on market $179,000 Active Under Contract 63 DOM
7. 2026-06-15
   days on market $179,000 Active Under Contract 62 DOM
8. 2026-06-13
   days on market $179,000 Active Under Contract 60 DOM
9. 2026-06-12
   days on market $179,000 Active Under Contract 59 DOM
10. 2026-06-09
    days on market $179,000 Active Under Contract 56 DOM
11. 2026-06-08
    days on market $179,000 Active Under Contract 55 DOM
12. 2026-06-07
    days on market $179,000 Active Under Contract 54 DOM
13. 2026-06-07
    days on market $179,000 Active Under Contract 53 DOM
14. 2026-06-04
    days on market $179,000 Active Under Contract 50 DOM
15. 2026-06-02
    days on market $179,000 Active Under Contract 49 DOM
16. 2026-06-01
    days on market $179,000 Active Under Contract 48 DOM
17. 2026-05-31
    status $179,000 Active Under Contract 47 DOM
18. 2026-05-31
    days on market $179,000 Active 47 DOM
19. 2026-05-31
    days on market $179,000 Active 46 DOM
20. 2026-05-19
    price $179,000 920-char remark

    Show marketing remark (842 chars)

    Step into this charming turn-of-the-century two-story home offering nearly 1,900 square feet of living space. With 4 bedrooms and 1.5 baths, this home blends classic character with everyday comfort. Youll love the original hardwood floors, antique doors, and rich oak trim that give the home a warm, timeless feel. The layout provides plenty of space for both relaxing and entertaining. Outside, youll find a concrete driveway, a detached two-car garage, and a great outdoor deck and patio area-perfect for gatherings or quiet evenings at home. The fenced backyard adds privacy and space for pets, play, or gardening. Located in a desirable neighborhood just north of downtown Alma, this home is only a short distance from shopping, dining, and entertainment. Its a great opportunity to own a home full of character in a convenient location.

21. 2026-05-19
    price $179,000 842-char remark

    Show marketing remark (842 chars)

    Step into this charming turn-of-the-century two-story home offering nearly 1,900 square feet of living space. With 4 bedrooms and 1.5 baths, this home blends classic character with everyday comfort. Youll love the original hardwood floors, antique doors, and rich oak trim that give the home a warm, timeless feel. The layout provides plenty of space for both relaxing and entertaining. Outside, youll find a concrete driveway, a detached two-car garage, and a great outdoor deck and patio area-perfect for gatherings or quiet evenings at home. The fenced backyard adds privacy and space for pets, play, or gardening. Located in a desirable neighborhood just north of downtown Alma, this home is only a short distance from shopping, dining, and entertainment. Its a great opportunity to own a home full of character in a convenient location.

22. 2026-04-26
    status Active 842-char remark

    Show marketing remark (920 chars)

    Step into this charming turn-of-the-century two-story home offering nearly 1,900 square feet of living space. With 4 bedrooms and 1.5 baths, this home blends classic character with everyday comfort. You’ll love the original hardwood floors, antique doors, and rich oak trim that give the home a warm, timeless feel. The layout provides plenty of space for both relaxing and entertaining. Outside, you’ll find a concrete driveway, a detached two-car garage, and a great outdoor deck and patio area—perfect for gatherings or quiet evenings at home. The fenced backyard adds privacy and space for pets, play, or gardening. Located in a desirable neighborhood just north of downtown Alma, this home is only a short distance from shopping, dining, and entertainment. It’s a great opportunity to own a home full of character in a convenient location.

23. 2026-04-26
    status Back on Market 920-char remark

    Show marketing remark (920 chars)

    Step into this charming turn-of-the-century two-story home offering nearly 1,900 square feet of living space. With 4 bedrooms and 1.5 baths, this home blends classic character with everyday comfort. You’ll love the original hardwood floors, antique doors, and rich oak trim that give the home a warm, timeless feel. The layout provides plenty of space for both relaxing and entertaining. Outside, you’ll find a concrete driveway, a detached two-car garage, and a great outdoor deck and patio area—perfect for gatherings or quiet evenings at home. The fenced backyard adds privacy and space for pets, play, or gardening. Located in a desirable neighborhood just north of downtown Alma, this home is only a short distance from shopping, dining, and entertainment. It’s a great opportunity to own a home full of character in a convenient location.

24. 2026-04-24
    historical Active Under Contract 842-char remark

    Show marketing remark (920 chars)

    Step into this charming turn-of-the-century two-story home offering nearly 1,900 square feet of living space. With 4 bedrooms and 1.5 baths, this home blends classic character with everyday comfort. You’ll love the original hardwood floors, antique doors, and rich oak trim that give the home a warm, timeless feel. The layout provides plenty of space for both relaxing and entertaining. Outside, you’ll find a concrete driveway, a detached two-car garage, and a great outdoor deck and patio area—perfect for gatherings or quiet evenings at home. The fenced backyard adds privacy and space for pets, play, or gardening. Located in a desirable neighborhood just north of downtown Alma, this home is only a short distance from shopping, dining, and entertainment. It’s a great opportunity to own a home full of character in a convenient location.

25. 2026-04-24
    historical Accepting Backup Offers 920-char remark

    Show marketing remark (920 chars)

    Step into this charming turn-of-the-century two-story home offering nearly 1,900 square feet of living space. With 4 bedrooms and 1.5 baths, this home blends classic character with everyday comfort. You’ll love the original hardwood floors, antique doors, and rich oak trim that give the home a warm, timeless feel. The layout provides plenty of space for both relaxing and entertaining. Outside, you’ll find a concrete driveway, a detached two-car garage, and a great outdoor deck and patio area—perfect for gatherings or quiet evenings at home. The fenced backyard adds privacy and space for pets, play, or gardening. Located in a desirable neighborhood just north of downtown Alma, this home is only a short distance from shopping, dining, and entertainment. It’s a great opportunity to own a home full of character in a convenient location.

26. 2026-04-14
    listed $189,000 Active 920-char remark

    Show marketing remark (842 chars)

    Step into this charming turn-of-the-century two-story home offering nearly 1,900 square feet of living space. With 4 bedrooms and 1.5 baths, this home blends classic character with everyday comfort. Youll love the original hardwood floors, antique doors, and rich oak trim that give the home a warm, timeless feel. The layout provides plenty of space for both relaxing and entertaining. Outside, youll find a concrete driveway, a detached two-car garage, and a great outdoor deck and patio area-perfect for gatherings or quiet evenings at home. The fenced backyard adds privacy and space for pets, play, or gardening. Located in a desirable neighborhood just north of downtown Alma, this home is only a short distance from shopping, dining, and entertainment. Its a great opportunity to own a home full of character in a convenient location.

27. 2026-04-14
    listed $189,000 Active 842-char remark

    Show marketing remark (842 chars)

    Step into this charming turn-of-the-century two-story home offering nearly 1,900 square feet of living space. With 4 bedrooms and 1.5 baths, this home blends classic character with everyday comfort. Youll love the original hardwood floors, antique doors, and rich oak trim that give the home a warm, timeless feel. The layout provides plenty of space for both relaxing and entertaining. Outside, youll find a concrete driveway, a detached two-car garage, and a great outdoor deck and patio area-perfect for gatherings or quiet evenings at home. The fenced backyard adds privacy and space for pets, play, or gardening. Located in a desirable neighborhood just north of downtown Alma, this home is only a short distance from shopping, dining, and entertainment. Its a great opportunity to own a home full of character in a convenient location.

28. 2020-04-02
    soldstatus $95,000
29. 2020-04-02
    soldstatus $95,000
30. 2020-04-02
    soldstatus $95,000
31. 2019-09-25
    listed $99,900
32. 2019-09-25
    listed $99,900

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

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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,939
• − Mortgage interest: −$9,467
• − Property taxes: −$2,535
• − Insurance: −$845
• − Repairs & maintenance: −$1,435
• − Management: −$1,435
• − Depreciation: −$4,916
• Taxable loss: −$2,694
• Est. tax savings @ 24.0%: +$647
• After-tax cash flow: $803/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: Alma Public Schools
• NCES district ID: 2602640
• Math proficiency: 28% ▼ -9.00%
• Reading proficiency: 44% ▼ -3.00%
• Median HH income: $36,651
• Composite: 29.84/100
• National rank: #6415
• State rank: #288 of 540 in MI

Livability — Alma

• Score: 69/100
• State rank: #345
• US rank: #8809

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alma, MI
• City population: 13,433
• Population (ZIP): 13,433

Population outlook (Gratiot County) Hauer SSP2

• Today (2025): 39,991 people
• By 2030: 38,944 · -2.6%
• By 2040: 36,694 · -8.2%
• By 2050: 34,314 · -14.2%
• By 2075: 27,693 · -30.8%
• By 2100: 20,809 · -48.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 10% Two or more races 4% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 5% Slovak 3% Iranian 2%
• Foreign-born: 2% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 4% French/Haitian/Cajun 1%

Political lean MEDSL · Gratiot

• 2024 margin: Solid R (+31.3) · D 33.7% · R 65.0% · Other 1.4%
• 2008→2024 swing: -35.7pp toward R · 2008: 4.4pp · 2024: -31.3pp
• All cycles: 2024: R+31.3 2020: R+28.3 2016: R+25.6 2012: R+3.9 2008: D+4.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -99.16%
• Current HPI: 210.3208
• 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

+79.2% since first listed

13 events — show timeline

• 2026-05-19 Price Changed $179,000 MiRealSource-MiMLS
• 2026-05-19 Price Changed $179,000 REALCOMP
• 2026-04-26 Relisted — REALCOMP
• 2026-04-26 Relisted — MiRealSource-MiMLS
• 2026-04-24 Contingent — REALCOMP
• 2026-04-24 Contingent — MiRealSource-MiMLS
• 2026-04-14 Listed $189,000 REALCOMP
• 2026-04-14 Listed $189,000 MiRealSource-MiMLS
• 2020-04-02 Sold (Public Records) $95,000 Public Records
• 2020-04-02 Sold (MLS) $95,000 MiRealSource-MiMLS
• 2020-04-02 Sold (MLS) $95,000 REALCOMP
• 2019-09-25 Listed $99,900 MiRealSource-MiMLS
• 2019-09-25 Listed $99,900 REALCOMP