11756 SW Coster Rd · Springfield, MI 49633

$111,400

3 bd · 1.0 ba · 2,002 sqft · SingleFamily public records · 61 Days on market

Built 1995 2.50 ac lot $56/sqft · 65% below area Est $191k · 42% under ↓ 43% since listing

---

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 +29.1/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Huge Price Reduction on this Auction Property * * Countryside Living can be yours! Nestled in the whispering pines of Kalkaska County, you may find what you're looking for. Consider this economically sized home on approximately 2.5 acres with a detached garage and additional outbuilding. This auction opportunity is definitely worth a look! All Bids and offers must be submitted to the seller through Hubzu.com where this property will be sold via auction. Located just a few miles from Fife Lake, this home may offer the perfect homestead or getaway option!

Key facts

• Detached garage
• 2.5 acre lot
• 2 garage spots

Tags

• APPROXIMATELY 2.5 ACRES
• DETACHED GARAGE
• ADDITIONAL OUTBUILDING
• FEW MILES FROM FIFE LAKE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $111k.

Deal economics

• At list price, monthly cash flow is $384 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $111k).
• Recommended offer: $105k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 2.0% in Springfield — 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 65/100 on livability (#472 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, schools F, amenities F.
• Forest Area Community Schools (rural): math 16% / reading 31% proficiency, ranked #438 of 540 in MI (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 60 active listings in the ZIP; 38 units permitted in Kalkaska County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $770 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Kalkaska 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

• It's been on market 61 days — a 6% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $85k (43%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $104,716 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-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. 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.
6. 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.
7. 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: 1.22% ✓
• Cap rate: 10.43%
• Cash-on-cash: 14.77%
• DSCR: 1.66
• GRM: 6.8

CMA / ARV

• ARV (median comp): $190,744
• List price: $111,400
• Delta: -41.60%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5887 SW Lund Rd	0.45mi	4/2.5 (+1)	1,930 (-4%)	22mo	$375,000	$194	43

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: 5.3%
• Equity multiple: 1.20×
• Total profit: $6,370
• Equity at exit: $16,610

10-year hold

• IRR: 14.7%
• Equity multiple: 2.18×
• Total profit: $36,918
• Equity at exit: $9,632

Cash invested: $31,192 (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 49633

• Active inventory: 60
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,362 medium
• Mortgage (P&I): −$584
• Tax from tax record: −$61 /mo · $736/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $384

Break-even live

Break-even rent $876

Max offer price $111,400

Occupancy floor 67%

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: $27,850
• Closing costs: $3,342
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-05-08
   status Pending 560-char remark

   Show marketing remark (560 chars)

   Huge Price Reduction on this Auction Property * * Countryside Living can be yours! Nestled in the whispering pines of Kalkaska County, you may find what you're looking for. Consider this economically sized home on approximately 2.5 acres with a detached garage and additional outbuilding. This auction opportunity is definitely worth a look! All Bids and offers must be submitted to the seller through Hubzu.com where this property will be sold via auction. Located just a few miles from Fife Lake, this home may offer the perfect homestead or getaway option!

2. 2026-05-08
   status Pending 560-char remark

   Show marketing remark (560 chars)

   Huge Price Reduction on this Auction Property * * Countryside Living can be yours! Nestled in the whispering pines of Kalkaska County, you may find what you're looking for. Consider this economically sized home on approximately 2.5 acres with a detached garage and additional outbuilding. This auction opportunity is definitely worth a look! All Bids and offers must be submitted to the seller through Hubzu.com where this property will be sold via auction. Located just a few miles from Fife Lake, this home may offer the perfect homestead or getaway option!

3. 2026-04-15
   price $111,400 560-char remark

   Show marketing remark (560 chars)

   Huge Price Reduction on this Auction Property * * Countryside Living can be yours! Nestled in the whispering pines of Kalkaska County, you may find what you're looking for. Consider this economically sized home on approximately 2.5 acres with a detached garage and additional outbuilding. This auction opportunity is definitely worth a look! All Bids and offers must be submitted to the seller through Hubzu.com where this property will be sold via auction. Located just a few miles from Fife Lake, this home may offer the perfect homestead or getaway option!

4. 2026-04-14
   price $111,400 560-char remark

   Show marketing remark (560 chars)

   Huge Price Reduction on this Auction Property * * Countryside Living can be yours! Nestled in the whispering pines of Kalkaska County, you may find what you're looking for. Consider this economically sized home on approximately 2.5 acres with a detached garage and additional outbuilding. This auction opportunity is definitely worth a look! All Bids and offers must be submitted to the seller through Hubzu.com where this property will be sold via auction. Located just a few miles from Fife Lake, this home may offer the perfect homestead or getaway option!

5. 2026-03-31
   price $139,700 560-char remark

   Show marketing remark (560 chars)

   Huge Price Reduction on this Auction Property * * Countryside Living can be yours! Nestled in the whispering pines of Kalkaska County, you may find what you're looking for. Consider this economically sized home on approximately 2.5 acres with a detached garage and additional outbuilding. This auction opportunity is definitely worth a look! All Bids and offers must be submitted to the seller through Hubzu.com where this property will be sold via auction. Located just a few miles from Fife Lake, this home may offer the perfect homestead or getaway option!

6. 2026-03-30
   price $139,700 560-char remark

   Show marketing remark (560 chars)

   Huge Price Reduction on this Auction Property * * Countryside Living can be yours! Nestled in the whispering pines of Kalkaska County, you may find what you're looking for. Consider this economically sized home on approximately 2.5 acres with a detached garage and additional outbuilding. This auction opportunity is definitely worth a look! All Bids and offers must be submitted to the seller through Hubzu.com where this property will be sold via auction. Located just a few miles from Fife Lake, this home may offer the perfect homestead or getaway option!

7. 2026-03-08
   listed $196,100 Active 560-char remark

   Show marketing remark (560 chars)

   Huge Price Reduction on this Auction Property * * Countryside Living can be yours! Nestled in the whispering pines of Kalkaska County, you may find what you're looking for. Consider this economically sized home on approximately 2.5 acres with a detached garage and additional outbuilding. This auction opportunity is definitely worth a look! All Bids and offers must be submitted to the seller through Hubzu.com where this property will be sold via auction. Located just a few miles from Fife Lake, this home may offer the perfect homestead or getaway option!

8. 2026-03-08
   listed $196,100 Active 560-char remark

   Show marketing remark (560 chars)

   Huge Price Reduction on this Auction Property * * Countryside Living can be yours! Nestled in the whispering pines of Kalkaska County, you may find what you're looking for. Consider this economically sized home on approximately 2.5 acres with a detached garage and additional outbuilding. This auction opportunity is definitely worth a look! All Bids and offers must be submitted to the seller through Hubzu.com where this property will be sold via auction. Located just a few miles from Fife Lake, this home may offer the perfect homestead or getaway option!

ⓘ 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: $736 · $61/mo
• Projected year-2 tax: $1,226 · $102/mo
• Expected delta: +$490/yr (+$41/mo · 66.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥94°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: $16,341
• − Mortgage interest: −$6,240
• − Property taxes: −$736
• − Insurance: −$557
• − Repairs & maintenance: −$1,307
• − Management: −$1,307
• − Depreciation: −$3,241
• Taxable income: $2,953
• Est. tax owed @ 24.0%: −$709
• After-tax cash flow: $3,898/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: Forest Area Community Schools
• NCES district ID: 2614570
• Math proficiency: 16% ▼ -8.00%
• Reading proficiency: 31% ▼ -9.00%
• Median HH income: $43,072
• Composite: 20.09/100
• National rank: #8649
• State rank: #438 of 540 in MI

Livability — Springfield

• Score: 65/100
• State rank: #472
• US rank: #13384

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,325

Population outlook (Kalkaska County) Hauer SSP2

• Today (2025): 17,359 people
• By 2030: 17,222 · -0.8%
• By 2040: 16,643 · -4.1%
• By 2050: 15,810 · -8.9%
• By 2075: 13,772 · -20.7%
• By 2100: 10,976 · -36.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Native American 2% Hispanic / Latino 2%
• Common ancestry: Romanian 5% Lithuanian 4% Scottish 3%
• Foreign-born: 1%
• Languages at home: 98% English-only · German/W. Germanic 1% Other Indo-European 1%

Political lean MEDSL · Kalkaska

• 2024 margin: Solid R (+42.9) · D 27.8% · R 70.7% · Other 1.5%
• 2008→2024 swing: -34.1pp toward R · 2008: -8.8pp · 2024: -42.9pp
• All cycles: 2024: R+42.9 2020: R+41.7 2016: R+44.1 2012: R+19.7 2008: R+8.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -208.84%
• Current HPI: 190.1931
• 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

-43.2% since first listed

8 events — show timeline

• 2026-05-08 Pending — REALCOMP
• 2026-05-08 Pending — MiRealSource-MiMLS
• 2026-04-15 Price Changed $111,400 MiRealSource-MiMLS
• 2026-04-14 Price Changed $111,400 REALCOMP
• 2026-03-31 Price Changed $139,700 MiRealSource-MiMLS
• 2026-03-30 Price Changed $139,700 REALCOMP
• 2026-03-08 Listed $196,100 REALCOMP
• 2026-03-08 Listed $196,100 MiRealSource-MiMLS

Property tax history

-4.8%/yr

Latest (2025): $736 · -73.6% YoY. Source: county tax records.