778 E Pine River Rd · Midland, MI 48640

$110,000

3 bd · 1.0 ba · 960 sqft · SingleFamily public records · 4 Days on market

Built 1988 1.52 ac lot

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Why this score? — see what drove the B- 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 +29.4/30.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Schools +4.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Peaceful Setting on Pine River Road | This home offers just under 1,000 square feet with 3 bedrooms and 2 bathrooms, settled within a couple cozy acres of partially wooded property in the Bullock Creek School District. The primary bedroom has an en suite ½ bathroom, and the other bedrooms are at the opposite end of the home alongside the full bathroom. The spacious living room connects to the dining space and the kitchen in a partially open floor plan. You’ll also enjoy the main floor laundry. A large slider off the dining area shows off a huge yard and the wooded acreage. A portion of the backyard is fully fenced and one shed on the property offers storage. The furnace, microwave, and primary bedroom carpet are newer, and many areas of the home have a fresh coat of paint. It’s a lovely spot with a peaceful setting, and you can make this home yours! Be sure to book your private tour today.

Key facts

• En suite bathroom
• Huge yard
• Main floor laundry

Tags

• PARTIALLY WOODED PROPERTY
• BULLOCK CREEK SCHOOL DISTRICT
• EN SUITE BATHROOM
• MAIN FLOOR LAUNDRY
• HUGE YARD
• FULLY FENCED BACKYARD

Property features AI

Finance

• Other: Located on an irregular lot of approximately 1.52 acres; Publicly maintained road access; Zoned residential; Cross street: S Homer Road / E Chippewa River Road
• HOA & community: Homeowners association present

Exterior

• Utilities: Public water; Septic sewer
• Home design: Single-family residence; One story
• Construction: Wood siding; Crawl space foundation; Built area above grade: 960 square feet
• Exterior features: Deck; Porch; Shed(s)

Interior

• Kitchen: Microwave, Oven, Range, Refrigerator
• Bedrooms: 5 total rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Gas water heater; Microwave; Oven; Range; Refrigerator
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $391 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Cap rate 10.6% 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.
• Bullock Creek School District (rural): math 37% / reading 55% proficiency, ranked #132 of 540 in MI (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 110 active listings in the ZIP; 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 $761 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 12y 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; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $110,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.34% ✓
• Cap rate: 10.56%
• Cash-on-cash: 15.23%
• DSCR: 1.68
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 5.9%
• Equity multiple: 1.23×
• Total profit: $7,105
• Equity at exit: $16,401

10-year hold

• IRR: 15.3%
• Equity multiple: 2.25×
• Total profit: $38,370
• Equity at exit: $9,511

Cash invested: $30,800 (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 48640

• Home prices YoY: -21.7%
• Active inventory: 110
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,473 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$150 /mo · $1,797/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $391

Break-even live

Break-even rent $978

Max offer price $110,000

Occupancy floor 68%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-05-19
   listed $110,000 Active 921-char remark

   Show marketing remark (921 chars)

   Peaceful Setting on Pine River Road | This home offers just under 1,000 square feet with 3 bedrooms and 2 bathrooms, settled within a couple cozy acres of partially wooded property in the Bullock Creek School District. The primary bedroom has an en suite ½ bathroom, and the other bedrooms are at the opposite end of the home alongside the full bathroom. The spacious living room connects to the dining space and the kitchen in a partially open floor plan. You’ll also enjoy the main floor laundry. A large slider off the dining area shows off a huge yard and the wooded acreage. A portion of the backyard is fully fenced and one shed on the property offers storage. The furnace, microwave, and primary bedroom carpet are newer, and many areas of the home have a fresh coat of paint. It’s a lovely spot with a peaceful setting, and you can make this home yours! Be sure to book your private tour today.

2. 2026-05-19
   listed $110,000 Active

   Show marketing remark (921 chars)

   Peaceful Setting on Pine River Road | This home offers just under 1,000 square feet with 3 bedrooms and 2 bathrooms, settled within a couple cozy acres of partially wooded property in the Bullock Creek School District. The primary bedroom has an en suite ½ bathroom, and the other bedrooms are at the opposite end of the home alongside the full bathroom. The spacious living room connects to the dining space and the kitchen in a partially open floor plan. You’ll also enjoy the main floor laundry. A large slider off the dining area shows off a huge yard and the wooded acreage. A portion of the backyard is fully fenced and one shed on the property offers storage. The furnace, microwave, and primary bedroom carpet are newer, and many areas of the home have a fresh coat of paint. It’s a lovely spot with a peaceful setting, and you can make this home yours! Be sure to book your private tour today.

3. 2022-08-31
   soldstatus $87,000
4. 2022-08-24
   soldstatus $87,000 85-char remark

   Show marketing remark (85 chars)

   RANCH-STYLE HOME ON OVER 1 1/2 ACRES. FENCED YARD. NATURAL GAS. BULLOCK CREEK SCHOOLS

5. 2022-08-24
   soldstatus $87,000

   Show marketing remark (85 chars)

   RANCH-STYLE HOME ON OVER 1 1/2 ACRES. FENCED YARD. NATURAL GAS. BULLOCK CREEK SCHOOLS

6. 2022-01-25
   listed $92,500 85-char remark

   Show marketing remark (85 chars)

   RANCH-STYLE HOME ON OVER 1 1/2 ACRES. FENCED YARD. NATURAL GAS. BULLOCK CREEK SCHOOLS

7. 2022-01-25
   listed $92,500

   Show marketing remark (85 chars)

   RANCH-STYLE HOME ON OVER 1 1/2 ACRES. FENCED YARD. NATURAL GAS. BULLOCK CREEK SCHOOLS

8. 2018-05-04
   historical
9. 2018-05-04
   historical
10. 2017-12-18
    listed $69,900
11. 2017-12-18
    listed $69,900
12. 2015-01-09
    soldstatus $30,500
13. 2015-01-09
    soldstatus $30,500
14. 2014-11-07
    listed $28,000
15. 2014-11-07
    listed $28,000
16. 2008-09-16
    soldstatus $72,000

ⓘ 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: $1,797 · $150/mo
• Projected year-2 tax: $1,797 · $150/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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 13 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: $17,671
• − Mortgage interest: −$6,162
• − Property taxes: −$1,797
• − Insurance: −$550
• − Repairs & maintenance: −$1,414
• − Management: −$1,414
• − Depreciation: −$3,200
• Taxable income: $3,135
• Est. tax owed @ 24.0%: −$753
• After-tax cash flow: $3,939/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: Bullock Creek School District
• NCES district ID: 2607320
• Math proficiency: 37% ▼ -12.00%
• Reading proficiency: 55% ▼ -5.00%
• Median HH income: $52,984
• Composite: 39.68/100
• National rank: #3907
• State rank: #132 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

• County: Midland County · 66,531 people
• City population: 66,531
• Metro: Midland, MI
• Population (ZIP): 32,492
• Household income: $80,574
• Rent vs Own: 25.0% rent · 75.0% own
• Severe rent burden: 939.0

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 (90%)
• Race & ethnicity: White 90% Two or more races 5% Hispanic / Latino 4% Asian 1% Black 1%
• Common ancestry: Romanian 7% Lithuanian 4% Italian 3%
• Foreign-born: 3% · Canada, South Korea, China
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 1% German/W. Germanic 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: ▼ -63.88%
• Current HPI: 230.5702
• Rent YoY: —
• 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

+52.8% since first listed

16 events — show timeline

• 2026-05-19 Listed $110,000 REALCOMP
• 2026-05-19 Listed $110,000 MiRealSource-MiMLS
• 2022-08-31 Sold (Public Records) $87,000 Public Records
• 2022-08-24 Sold (MLS) $87,000 REALCOMP
• 2022-08-24 Sold (MLS) $87,000 MiRealSource-MiMLS
• 2022-01-25 Listed $92,500 REALCOMP
• 2022-01-25 Listed $92,500 MiRealSource-MiMLS
• 2018-05-04 Listing Removed — REALCOMP
• 2018-05-04 Listing Removed — MiRealSource-MiMLS
• 2017-12-18 Listed $69,900 REALCOMP
• 2017-12-18 Listed $69,900 MiRealSource-MiMLS
• 2015-01-09 Sold (MLS) $30,500 MiRealSource-MiMLS
• 2015-01-09 Sold (MLS) $30,500 REALCOMP
• 2014-11-07 Listed $28,000 MiRealSource-MiMLS
• 2014-11-07 Listed $28,000 REALCOMP
• 2008-09-16 Sold (Public Records) $72,000 Public Records

Property tax history

-1.2%/yr

Latest (2024): $1,797 · -4.9% YoY. Source: county tax records.