803 James St · Belding, MI 48809

$180,000

3 bd · 1.0 ba · 1,107 sqft · SingleFamily public records · 3 Days on market

Built 1900 8,712 sqft lot Est $193k · 7% 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 +14.3/30.0
• ARV discount +10.4/15.0
• Appreciation +10.0/10.0
• DSCR +4.3/10.0
• Livability +3.7/5.0
• 1% rule +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks MLS

Charming and full of potential, this cute older home is tucked away in a quiet neighborhood and ready for its next chapter. Featuring spacious bedrooms, generous living areas, and a price that stands out from the rest of the market, this home offers endless possibilities to make it your own. With so much space and character at an incredible value, this could be your next home!Offers Due Monday, May 11th at 4pm.

Key facts

• 8,712 sq ft lot
• Garage
• Built 1900

Property features AI

Exterior

• Parking: Detached 1-car garage
• Home design: Single-family residence; Residential property; Built in 1900
• Construction: Vinyl siding
• Exterior features: Public water; 0.2-acre lot

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Total of 8 rooms; Michigan-style basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $32 ($382/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 $153k (15.2% below list).
• Recommended offer: $153k (15.2% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 4.5% in Belding — 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 74/100 on livability (#169 in MI, #4,436 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, schools D-, amenities F.
• Belding Area School District (town): math 23% / reading 31% proficiency, ranked #398 of 540 in MI (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 72 active listings in the ZIP; 94 units permitted in Ionia County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Ionia County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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.

Risks & watch-outs

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

Recommended offer $152,655 (15.2% below list)

Questions for the listing agent

1. Built in 1900 — 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 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?
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: 0.85% ✗
• Cap rate: 6.51%
• Cash-on-cash: 0.76%
• DSCR: 1.03
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $192,618
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
613 James St	0.10mi	3/2.0	1,146 (+4%)	11mo	$223,000	$195	76
807 S Pearl St	0.25mi	3/1.5	1,160 (+5%)	4mo	$187,000	$161	75
516 Pearl St	0.28mi	3/1.0	1,120 (+1%)	13mo	$190,000	$170	74
818 Pleasant St	0.16mi	2/2.0 (-1)	1,028 (-7%)	6mo	$190,000	$185	66
111 E Congress St	0.39mi	3/1.0	1,163 (+5%)	11mo	$190,000	$163	64
810 James St	0.03mi	3/1.5	1,268 (+14%)	12mo	$228,806	$180	63
808 Riverside St	0.69mi	3/1.0	1,107 (0%)	9mo	$130,000	$117	60
308 W Division St	0.30mi	3/1.0	988 (-11%)	12mo	$200,000	$202	58
315 Hall St	0.32mi	3/1.0	1,270 (+15%)	6mo	$205,000	$161	56
545 Howard St	0.71mi	3/1.5	1,122 (+1%)	12mo	$195,000	$174	52
522 S Front St	0.38mi	4/1.0 (+1)	1,260 (+14%)	12mo	$199,900	$159	44
702 Morton Ave	0.63mi	4/2.0 (+1)	1,223 (+10%)	12mo	$256,000	$209	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.8%
• Equity multiple: 2.98×
• Total profit: $100,042
• Equity at exit: $162,158

10-year hold

• IRR: 21.9%
• Equity multiple: 6.81×
• Total profit: $292,973
• Equity at exit: $349,700

Cash invested: $50,400 (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 48809

• Home prices YoY: 3.3%
• Active inventory: 72
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,527 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$155 /mo · $1,862/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $32

Break-even live

Break-even rent $1,486

Max offer price $180,000

Occupancy floor 93%

Sensitivity live

Price	-10% $134	-5% $83	+0% $32	+5% $-19	+10% $-70
Rent	-10% $-89	-5% $-28	+0% $32	+5% $92	+10% $152
Rate	-1.0pp $123	-0.5pp $78	base $32	+0.5pp $-15	+1.0pp $-62

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-12
   status Pending 414-char remark

   Show marketing remark (414 chars)

   Charming and full of potential, this cute older home is tucked away in a quiet neighborhood and ready for its next chapter. Featuring spacious bedrooms, generous living areas, and a price that stands out from the rest of the market, this home offers endless possibilities to make it your own. With so much space and character at an incredible value, this could be your next home!Offers Due Monday, May 11th at 4pm.

2. 2026-05-12
   status Pending 414-char remark

   Show marketing remark (414 chars)

   Charming and full of potential, this cute older home is tucked away in a quiet neighborhood and ready for its next chapter. Featuring spacious bedrooms, generous living areas, and a price that stands out from the rest of the market, this home offers endless possibilities to make it your own. With so much space and character at an incredible value, this could be your next home!Offers Due Monday, May 11th at 4pm.

3. 2026-05-12
   status Pending

   Show marketing remark (414 chars)

   Charming and full of potential, this cute older home is tucked away in a quiet neighborhood and ready for its next chapter. Featuring spacious bedrooms, generous living areas, and a price that stands out from the rest of the market, this home offers endless possibilities to make it your own. With so much space and character at an incredible value, this could be your next home!Offers Due Monday, May 11th at 4pm.

4. 2026-05-08
   listed $180,000 Active 414-char remark

   Show marketing remark (414 chars)

   Charming and full of potential, this cute older home is tucked away in a quiet neighborhood and ready for its next chapter. Featuring spacious bedrooms, generous living areas, and a price that stands out from the rest of the market, this home offers endless possibilities to make it your own. With so much space and character at an incredible value, this could be your next home!Offers Due Monday, May 11th at 4pm.

5. 2026-05-08
   listed $180,000 Active 414-char remark

   Show marketing remark (414 chars)

   Charming and full of potential, this cute older home is tucked away in a quiet neighborhood and ready for its next chapter. Featuring spacious bedrooms, generous living areas, and a price that stands out from the rest of the market, this home offers endless possibilities to make it your own. With so much space and character at an incredible value, this could be your next home!Offers Due Monday, May 11th at 4pm.

6. 2026-05-08
   listed $180,000 Active

   Show marketing remark (414 chars)

   Charming and full of potential, this cute older home is tucked away in a quiet neighborhood and ready for its next chapter. Featuring spacious bedrooms, generous living areas, and a price that stands out from the rest of the market, this home offers endless possibilities to make it your own. With so much space and character at an incredible value, this could be your next home!Offers Due Monday, May 11th at 4pm.

ⓘ 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: $1,862 · $155/mo
• Projected year-2 tax: $2,317 · $193/mo
• Expected delta: +$455/yr (+$38/mo · 24.4%)

ⓘ 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 3/10 Moderate 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,319
• − Mortgage interest: −$10,083
• − Property taxes: −$1,862
• − Insurance: −$900
• − Repairs & maintenance: −$1,465
• − Management: −$1,465
• − Depreciation: −$5,236
• Taxable loss: −$2,694
• Est. tax savings @ 24.0%: +$646
• After-tax cash flow: $1,029/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: Belding Area School District
• NCES district ID: 2604530
• Math proficiency: 23% ▼ -9.00%
• Reading proficiency: 31% ▼ -8.00%
• Median HH income: $46,310
• Composite: 23.33/100
• National rank: #7915
• State rank: #398 of 540 in MI

Livability — Belding

• Score: 74/100
• State rank: #169
• US rank: #4436

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Belding, MI
• Population (ZIP): 11,292

Population outlook (Ionia County) Hauer SSP2

• Today (2025): 63,958 people
• By 2030: 63,321 · -1.0%
• By 2040: 61,544 · -3.8%
• By 2050: 58,682 · -8.2%
• By 2075: 48,909 · -23.5%
• By 2100: 35,867 · -43.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Iranian 7% Romanian 4% Lithuanian 3%
• Foreign-born: 1% · Canada, China
• Languages at home: 95% English-only · Spanish 3% Russian/Polish/Slavic 1%

Political lean MEDSL · Ionia

• 2024 margin: Solid R (+31.9) · D 33.3% · R 65.2% · Other 1.5%
• 2008→2024 swing: -26.0pp toward R · 2008: -5.8pp · 2024: -31.9pp
• All cycles: 2024: R+31.9 2020: R+30.3 2016: R+31.0 2012: R+12.8 2008: R+5.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 13.30%
• Current HPI: 412.5108
• 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

+0.0% since first listed

6 events — show timeline

• 2026-05-12 Pending — REALCOMP
• 2026-05-12 Pending — MiRealSource-MiMLS
• 2026-05-12 Pending — SW Michigan MLS
• 2026-05-08 Listed $180,000 SW Michigan MLS
• 2026-05-08 Listed $180,000 MiRealSource-MiMLS
• 2026-05-08 Listed $180,000 REALCOMP

Property tax history

+2.4%/yr

Latest (2025): $1,862 · +2.7% YoY. Source: county tax records.