708 Nebobish Ave · Bay City, MI 48708

$139,900

2 bd · 2.0 ba · 1,272 sqft · SingleFamily public records · 56 Days on market

Built 1900 7,840 sqft lot $110/sqft · 11% below area Est $157k · 11% under

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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 +13.9/30.0
• ARV discount +12.4/15.0
• DSCR +4.2/10.0
• 1% rule +3.8/10.0
• 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

Four generations of the same family have enjoyed this home for holidays and gatherings. This Eastside home boasts three bedrooms, two full baths, basement, oversized yard and a garage. The living areas are quite spacious and extra rooms include an office and finished storage. For outdoor enjoyment there is a porch, patio and a deck! Also, room for a nice garden! Ideal location for the Rail trail and Carroll Park! New roof 2015

Key facts

• Wood flooring
• Dining area
• Large living room

Tags

• LARGE LIVING ROOM
• DINING AREA
• WOOD FLOORING
• OPEN BASEMENT
• GENEROUSLY SIZED YARD
• 1 CAR GARAGE

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Natural gas heating fuel; Forced air heating system; Central air conditioning; Public water; Public sanitary sewer
• Home design: Residential property; 1 1/2-story structure; Built in 1900
• Construction: Wood exterior; Basement foundation; 900 sq. ft. below grade
• Exterior features: Road frontage

Interior

• Kitchen: First-floor kitchen, approximately 16 x 8; Laminate floor in the kitchen; Dining area adjacent to kitchen, approximately 16 x 10 with wood flooring
• Bedrooms: Bedroom 1 (Second floor) — 10 x 11, carpet; Bedroom 2 (Second floor) — 6 x 13, other flooring; Bedroom 3 (First floor) — 11 (approx.), carpet
• Flooring: Wood floors in living and dining areas; Carpet in most bedrooms; Laminate in the kitchen
• Bathrooms: 2 full bathrooms; one on the first floor and one on the second floor
• Interior features: 8 total rooms; Full basement
• Laundry & utility: Basement provides utility/laundry space

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $16 ($193/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 $123k (12.0% below list).
• Recommended offer: $123k (12.0% below list) — sets the bar for 1% rule.

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; 1 comparable units currently listed for rent nearby; 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 $967 of loan paydown is wiped out by about $4k 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 56 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; list at $140k implies a 250% 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 $123,096 (12.0% below list)

Questions for the listing agent

1. It's been on market 56 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 6.43%
• Cash-on-cash: 0.49%
• DSCR: 1.02
• GRM: 9.5

CMA / ARV

• ARV (median comp): $157,093
• List price: $139,900
• Delta: -10.94%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
714 Nebobish Ave	0.01mi	3/2.0 (+1)	1,288 (+1%)	4mo	$69,000	$54	89
608 Woodside Ln	0.20mi	3/2.0 (+1)	1,320 (+4%)	4mo	$140,000	$106	76
1316 N Trumbull St	0.40mi	3/1.5 (+1)	1,312 (+3%)	2mo	$118,303	$90	67
500 Princeton St	0.75mi	3/2.0 (+1)	1,260 (-1%)	5mo	$145,000	$115	54
310 Burns St	0.75mi	3/1.5 (+1)	1,320 (+4%)	4mo	$225,000	$170	49
800 Woodside Ln	0.27mi	3/1.0 (+1)	1,450 (+14%)	8mo	$144,000	$99	48
2121 7th St	0.71mi	3/1.5 (+1)	1,182 (-7%)	2mo	$175,000	$148	46
502 Borton Ave	0.47mi	3/2.5 (+1)	1,452 (+14%)	6mo	$91,500	$63	42
308 Borton Ave	0.43mi	3/1.0 (+1)	1,100 (-14%)	8mo	$144,900	$132	42
2110 4th St	0.52mi	3/1.0 (+1)	1,104 (-13%)	9mo	$78,000	$71	37
1009 N Hampton St	0.73mi	3/1.5 (+1)	1,081 (-15%)	0mo	$140,000	$130	34
2131 7th St	0.70mi	3/1.0 (+1)	1,436 (+13%)	6mo	$134,000	$93	32

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: -15.5%
• Equity multiple: 0.45×
• Total profit: $-21,634
• Equity at exit: $20,860

10-year hold

• IRR: -7.0%
• Equity multiple: 0.55×
• Total profit: $-17,470
• Equity at exit: $12,096

Cash invested: $39,172 (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: 9.5×

Monthly cashflow live

• Estimated rent: $1,231 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$164 /mo · $1,973/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $16

Break-even live

Break-even rent $1,211

Max offer price $139,900

Occupancy floor 94%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1305 Washington Ave Bay City, MI	2.0	1.0	635	$1,675	$2.64	43d	1	1.43mi

Listing history 21 events

1. 2026-06-19
   days on market $139,900 Active 56 DOM
2. 2026-06-18
   days on market $139,900 Active 55 DOM
3. 2026-06-17
   days on market $139,900 Active 54 DOM
4. 2026-06-16
   days on market $139,900 Active 53 DOM
5. 2026-06-15
   days on market $139,900 Active 52 DOM
6. 2026-06-14
   days on market $139,900 Active 50 DOM
7. 2026-06-12
   days on market $139,900 Active 49 DOM
8. 2026-06-09
   days on market $139,900 Active 46 DOM
9. 2026-06-08
   days on market $139,900 Active 45 DOM
10. 2026-06-07
    days on market $139,900 Active 44 DOM
11. 2026-06-05
    pricedays on market $139,900 Active 41 DOM
12. 2026-06-03
    days on market $144,900 Active 40 DOM
13. 2026-06-02
    days on market $144,900 Active 39 DOM
14. 2026-06-01
    days on market $144,900 Active 38 DOM
15. 2026-05-31
    days on market $144,900 Active 37 DOM
16. 2026-05-30
    days on market $144,900 Active 36 DOM
17. 2026-05-14
    price $144,900 825-char remark
18. 2026-04-24
    listed $149,900 Active 825-char remark
19. 2015-11-02
    soldstatus $40,000
20. 2015-10-30
    soldstatus $40,000 430-char remark

    Show marketing remark (430 chars)

    Four generations of the same family have enjoyed this home for holidays and gatherings. This Eastside home boasts three bedrooms, two full baths, basement, oversized yard and a garage. The living areas are quite spacious and extra rooms include an office and finished storage. For outdoor enjoyment there is a porch, patio and a deck! Also, room for a nice garden! Ideal location for the Rail trail and Carroll Park! New roof 2015

21. 2015-04-21
    listed $45,900 430-char remark

    Show marketing remark (430 chars)

    Four generations of the same family have enjoyed this home for holidays and gatherings. This Eastside home boasts three bedrooms, two full baths, basement, oversized yard and a garage. The living areas are quite spacious and extra rooms include an office and finished storage. For outdoor enjoyment there is a porch, patio and a deck! Also, room for a nice garden! Ideal location for the Rail trail and Carroll Park! New roof 2015

ⓘ 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: $1,973 · $164/mo
• Projected year-2 tax: $2,064 · $172/mo
• Expected delta: +$91/yr (+$8/mo · 4.6%)

ⓘ 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 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: $14,772
• − Mortgage interest: −$7,837
• − Property taxes: −$1,973
• − Insurance: −$700
• − Repairs & maintenance: −$1,182
• − Management: −$1,182
• − Depreciation: −$4,070
• Taxable loss: −$2,171
• Est. tax savings @ 24.0%: +$521
• After-tax cash flow: $714/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

+204.8% since first listed

6 events — show timeline

• 2026-06-05 Price Changed $139,900 MiRealSource-MiMLS
• 2026-05-14 Price Changed $144,900 MiRealSource-MiMLS
• 2026-04-24 Listed $149,900 MiRealSource-MiMLS
• 2015-11-02 Sold (Public Records) $40,000 Public Records
• 2015-10-30 Sold (MLS) $40,000 MiRealSource-MiMLS
• 2015-04-21 Listed $45,900 MiRealSource-MiMLS

Property tax history

+3.8%/yr

Latest (2025): $1,973 · +3.0% YoY. Source: county tax records.