119 Washington Ave · Cato, MI 48850

$105,000

3 bd · 1.0 ba · 1,784 sqft · SingleFamily public records · 6 Days on market

Built 1920 3,049 sqft lot

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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 +24.9/30.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 Story home with 3 bedrooms, 1 bath located in the Village of Lakeview. 2 car attached garage and shed. Corner lot location. Cash Sale only. Sold as-is and seller will not complete any repairs.

Key facts

• Corner lot location
• 3,049 sq ft lot
• 2 garage spots

Tags

• CORNER LOT LOCATION

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Natural gas connected
• Home design: Traditional single-family home; Built in 1920
• Construction: Vinyl siding
• Exterior features: Corner lot; Paved road frontage; Public water

Interior

• Kitchen: Microwave; Range
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating
• Interior features: Eight total rooms; Michigan-style basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $227 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Lakeview Community Schools (Montcalm) (rural): math 28% / reading 44% proficiency, ranked #281 of 540 in MI (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 38 active listings in the ZIP; 273 units permitted in Montcalm County in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Montcalm County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 7y 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,000

Questions for the listing agent

1. Built in 1920 — 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. 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: 1.15% ✓
• Cap rate: 8.89%
• Cash-on-cash: 9.26%
• DSCR: 1.41
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $242,624
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
205 Mill St	0.16mi	4/2.0 (+1)	1,840 (+3%)	14mo	$250,000	$136	67
105 2nd St	0.15mi	4/2.0 (+1)	1,778 (-0%)	24mo	$185,000	$104	64
120 Mill St	0.07mi	3/2.0	1,615 (-10%)	23mo	$176,000	$109	58
306 Sherman St	0.20mi	3/2.0	1,520 (-15%)	8mo	$175,000	$115	56
92 N Lincoln Ave	0.10mi	2/2.0 (-1)	2,042 (+14%)	20mo	$353,000	$173	45
92 N Lincoln Ave	0.13mi	2/2.0 (-1)	2,042 (+14%)	20mo	$353,000	$173	44
804 S Lincoln Ave	0.55mi	4/2.0 (+1)	2,030 (+14%)	13mo	$188,000	$93	32
9725 Paden Rd	0.68mi	4/2.0 (+1)	1,568 (-12%)	12mo	$220,000	$140	29

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: -2.3%
• Equity multiple: 0.91×
• Total profit: $-2,549
• Equity at exit: $15,656

10-year hold

• IRR: 7.4%
• Equity multiple: 1.56×
• Total profit: $16,458
• Equity at exit: $9,078

Cash invested: $29,400 (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 48850

• Home prices YoY: -22.6%
• Active inventory: 38
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,206 medium
• Mortgage (P&I): −$551
• Tax est. 1.5%: −$131 /mo · $1,575/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $227

Break-even live

Break-even rent $919

Max offer price $105,000

Occupancy floor 76%

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-18
   days on market $105,000 Active 6 DOM
2. 2026-06-17
   days on market $105,000 Active 5 DOM
3. 2026-06-16
   days on market $105,000 Active 4 DOM
4. 2026-06-15
   days on market $105,000 Active 3 DOM
5. 2026-06-14
   remarks 194-char remark
6. 2026-06-14
   listed $105,000 Active 1 DOM

ⓘ 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 7/10 Severe 96% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,468
• − Mortgage interest: −$5,882
• − Property taxes: −$1,575
• − Insurance: −$525
• − Repairs & maintenance: −$1,157
• − Management: −$1,157
• − Depreciation: −$3,055
• Taxable income: $1,117
• Est. tax owed @ 24.0%: −$268
• After-tax cash flow: $2,454/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: Lakeview Community Schools (Montcalm)
• NCES district ID: 2620910
• Math proficiency: 28% ▼ -8.00%
• Reading proficiency: 44% ▼ -5.00%
• Median HH income: $40,513
• Composite: 30.21/100
• National rank: #6303
• State rank: #281 of 540 in MI

Livability — Cato

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Lakeview, MI
• Population (ZIP): 4,526

Population outlook (Montcalm County) Hauer SSP2

• Today (2025): 61,011 people
• By 2030: 59,467 · -2.5%
• By 2040: 55,427 · -9.2%
• By 2050: 50,517 · -17.2%
• By 2075: 38,731 · -36.5%
• By 2100: 26,770 · -56.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 7% Two or more races 4% Hispanic / Latino 4%
• Common ancestry: Polish 4% Iranian 3% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · German/W. Germanic 4% Spanish 1%

Political lean MEDSL · Montcalm

• 2024 margin: Solid R (+39.0) · D 29.8% · R 68.7% · Other 1.5%
• 2008→2024 swing: -38.7pp toward R · 2008: -0.3pp · 2024: -39.0pp
• All cycles: 2024: R+39.0 2020: R+37.7 2016: R+34.0 2012: R+8.6 2008: R+0.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -80.28%
• Current HPI: 275.5563
• 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

+184.6% since first listed

25 events — show timeline

• 2026-06-11 Listed $105,000 MiRealSource-MiMLS
• 2026-06-11 Listed $105,000 SW Michigan MLS
• 2021-01-15 Sold (Public Records) $95,000 Public Records
• 2021-01-13 Sold (MLS) $95,000 MiRealSource-MiMLS
• 2021-01-13 Sold (MLS) $95,000 SW Michigan MLS
• 2021-01-13 Sold (MLS) $95,000 REALCOMP
• 2020-11-20 Pending — REALCOMP
• 2020-11-20 Pending — MiRealSource-MiMLS
• 2020-11-20 Pending — SW Michigan MLS
• 2020-11-12 Price Changed $89,900 MiRealSource-MiMLS
• 2020-11-11 Price Changed $89,900 REALCOMP
• 2020-11-11 Price Changed $89,900 SW Michigan MLS
• 2020-10-23 Listed $95,000 MiRealSource-MiMLS
• 2020-10-23 Listed $95,000 SW Michigan MLS
• 2020-10-23 Listed $95,000 REALCOMP
• 2019-09-17 Sold (Public Records) $36,900 Public Records
• 2019-09-12 Sold (MLS) $36,900 SW Michigan MLS
• 2019-09-12 Sold (MLS) $36,900 REALCOMP
• 2019-08-28 Pending — SW Michigan MLS
• 2019-08-21 Price Changed $36,900 SW Michigan MLS
• 2019-08-02 Price Changed $47,500 SW Michigan MLS
• 2019-07-05 Price Changed $64,900 SW Michigan MLS
• 2019-06-23 Listed $36,900 MiRealSource-MiMLS
• 2019-06-23 Listed $69,500 SW Michigan MLS
• 2019-06-23 Listed $36,900 REALCOMP