3115-3117 Beech St · Midland, MI 48642

$259,900

6 bd · 1.5 ba · 2,246 sqft · MultiFamily public records · 3 Days on market

Built 1974 0.29 ac lot Est $359k · 28% 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 +21.0/30.0
• ARV discount +15.0/15.0
• DSCR +6.7/10.0
• 1% rule +5.7/10.0
• Schools +4.9/10.0
• Livability +4.2/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

BETTER HURRY ON BEECH! Located directly across from a school playground with splash park, this duplex will be a big hit and easy to rent. 2 bedrooms, 1 full bathroom and 1 half bathroom per side. 1.5 car attached garage on each side. Nice private backyard. This duplex has always been a solid performer. Call today for your private showing!

Key facts

• Private backyard
• Splash park
• 0.29 acre lot

Tags

• SPLASH PARK
• PRIVATE BACKYARD

Property features AI

Finance

• Other: Lot dimensions approximately 96 x 132 (0.29 acre); Zoned residential
• Financial info: Unit rents reported: one unit at $950, another at $1,050
• HOA & community: Details not provided

Exterior

• Parking: Attached garage; Approximately 1.5 garage spaces
• Security: Details not provided
• Utilities: Public water; Public sewer
• Home design: Residential income property (multi-family); Two-story; Entry level not specified; Facing direction not specified
• Construction: Aluminum siding and brick exterior; Built on a slab foundation; Two-unit building; Above-grade finished area approximately 2,246
• Exterior features: Sprinkler system

Interior

• Kitchen: Dishwasher; Disposal; Oven; Range; Refrigerator
• Bedrooms: Details not provided
• Flooring: Details not provided
• Bathrooms: 2 full bathrooms; 2 half bathrooms
• Heating & cooling: Forced air heating; Separate meters for heating; Central air conditioning
• Interior features: Eat-in kitchen; Living room fireplace
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $260k.

Deal economics

• At list price, monthly cash flow is $368 ($4k/yr) — positive. Per door: $184/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $260k).
• Cap rate 8.0% 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.
• Midland Public Schools (urban): math 49% / reading 64% proficiency, ranked #62 of 540 in MI (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents flat; 95 active listings in the ZIP; solid renter incomes; 320 units permitted in Midland County in 2024 (204 in 5+ unit buildings).
• This rent runs 43% of the median local income ($78k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 2y 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 $131k; list at $260k implies a 98% gain — meaningful room to come down on a strong offer.

Recommended offer $259,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.07% ✓
• Cap rate: 7.99%
• Cash-on-cash: 6.07%
• DSCR: 1.27
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $359,360
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
428/430 Hemlock St	0.30mi	6/4.0	2,015 (-10%)	2mo	$321,700	$160	57

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 · 0.6% rent growth · sell at horizon

5-year hold

• IRR: -9.7%
• Equity multiple: 0.65×
• Total profit: $-25,166
• Equity at exit: $38,752

10-year hold

• IRR: -4.0%
• Equity multiple: 0.76×
• Total profit: $-17,102
• Equity at exit: $22,471

Cash invested: $72,772 (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 48642

• Home prices YoY: -31.4%
• Rents YoY: 0.6%
• Active inventory: 95
• Price-to-rent: 15.6×

Monthly cashflow live

• Estimated rent: $2,777 medium
• Mortgage (P&I): −$1,363
• Tax from tax record: −$355 /mo · $4,255/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$583
• Net cashflow: $368

Break-even live

Break-even rent $2,311

Max offer price $259,900

Occupancy floor 82%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$2,776
Total (2 units)			$2,777

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: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-19
   days on market $259,900 Active 3 DOM
2. 2026-06-18
   days on market $259,900 Active 2 DOM
3. 2026-06-17
   remarks 340-char remark
4. 2026-06-17
   listed $259,900 Active 1 DOM

ⓘ 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: $4,255 · $355/mo
• Projected year-2 tax: $4,255 · $355/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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°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: $33,324
• − Mortgage interest: −$14,558
• − Property taxes: −$4,255
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,666
• − Management: −$2,666
• − Depreciation: −$7,561
• Taxable income: $318
• Est. tax owed @ 24.0%: −$76
• After-tax cash flow: $4,340/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: Midland Public Schools
• NCES district ID: 2623820
• Math proficiency: 49% ▼ -6.00%
• Reading proficiency: 64% ▼ -3.00%
• Median HH income: $55,844
• Composite: 48.67/100
• National rank: #2105
• State rank: #62 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

• Census place: Midland, MI
• County: Midland County · 66,531 people
• City population: 66,531
• Metro: Midland, MI
• Population (ZIP): 34,039
• Household income: $77,847
• Rent vs Own: 25.3% rent · 74.7% own
• Severe rent burden: 935.0

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 4% Asian 4% Two or more races 3% Black 2%
• Common ancestry: Romanian 8% Lithuanian 5% Italian 3%
• Foreign-born: 5% · Canada, China, Vietnam
• Languages at home: 95% English-only · Other Indo-European 1% Spanish 1% Chinese 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: ▼ -87.89%
• Current HPI: 192.0812
• Rent YoY: ▲ 0.60%
• 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

+98.4% since first listed

8 events — show timeline

• 2026-06-16 Listed $259,900 REALCOMP
• 2026-06-16 Listed $259,900 MiRealSource-MiMLS
• 2025-01-06 Listing Removed — REALCOMP
• 2025-01-06 Listing Removed — MiRealSource-MiMLS
• 2024-12-18 Price Changed $259,900 MiRealSource-MiMLS
• 2024-12-03 Listed $259,900 REALCOMP
• 2024-12-03 Listed $269,900 MiRealSource-MiMLS
• 2006-06-20 Sold (Public Records) $131,000 Public Records

Property tax history

+1.9%/yr

Latest (2024): $4,255 · +5.1% YoY. Source: county tax records.