112 W Church St · Tustin, MI 49688

$115,000

4 bd · 1.0 ba · 1,360 sqft · SingleFamily · 46 Days on market

Built 1900 0.33 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 +26.8/30.0
• Appreciation +10.0/10.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to this spacious 4 bedroom, 1 bathroom home located in the heart of downtown Tustin! Situated on over a quarter acre lot, this property offers plenty of room to enjoy outdoor living, gardening, or future improvements. The inviting front porch is the perfect place to relax with your morning coffee or unwind at the end of the day. Inside, youll find a functional layout with the convenience of two bedrooms, a bathroom and laundry on the main floor. An additional room, currently used as a 5th bedroom, could be an office or converted back into a second bathroom. Upstairs, you'll find two more bedrooms. The home comes complete with all appliances, making it move-in ready, and also includes a cozy electric fireplace for added comfort and charm. Several important updates have already been taken care of, including some newer windows, a roof replaced in 2017, as well as an updated furnace, water heater, and well pump, giving you peace of mind for years to come. Outside, the property features a shed with electricity, ideal for a workshop, hobby space, or additional storage. With its central location close to local amenities and its combination of character, updates, and space, this home offers a great opportunity for comfortable living in a convenient setting.

Key facts

• Quarter acre lot
• Front porch
• Newer windows

Tags

• QUARTER ACRE LOT
• FRONT PORCH
• ELECTRIC FIREPLACE
• NEWER WINDOWS
• UPDATED FURNACE
• UPDATED WATER HEATER

Property features AI

Exterior

• Utilities: Private well water
• Home design: Single-family residence; Residential property; Paved road access; Built in 1900
• Construction: Vinyl siding and other exterior materials; Asphalt roof
• Exterior features: Sidewalk; Shed(s)

Interior

• Kitchen: Range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Fireplace; 8 total rooms
• Laundry & utility: Washer; Dryer; Partial basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $316 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $112k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#540 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: schools D, crime F, amenities F.
• Pine River Area Schools (rural): math 22% / reading 38% proficiency, ranked #369 of 540 in MI (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 22 active listings in the ZIP; 5 units permitted in Osceola County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($795 loan paydown + $12k appreciation (10.0% local appreciation)).
• Osceola County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 10y ago; this cycle's ask has dropped $8k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $59k; list at $115k implies a 95% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $111,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 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: 9.59%
• Cash-on-cash: 11.76%
• DSCR: 1.52
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 32.9%
• Equity multiple: 3.57×
• Total profit: $82,750
• Equity at exit: $103,601

10-year hold

• IRR: 28.4%
• Equity multiple: 8.08×
• Total profit: $227,924
• Equity at exit: $223,420

Cash invested: $32,200 (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 49688

• Home prices YoY: 5.9%
• Active inventory: 22
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,405 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $316

Break-even live

Break-even rent $1,006

Max offer price $115,000

Occupancy floor 73%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-04-28
   historical Active Under Contract 1277-char remark

   Show marketing remark (974 chars)

   Welcome to this spacious 4 bedroom, 1 bathroom home located in the heart of downtown Tustin! Situated on over a quarter acre lot, this property offers plenty of room to enjoy outdoor living, gardening, or future improvements. The inviting front porch is the perfect place to relax with your morning coffee or unwind at the end of the day. Inside, you'll find a functional layout with the convenience of two bedrooms, a bathroom and laundry on the main floor. An additional room, currently used as a 5th bedroom, could be an office or converted back into a second bathroom. Upstairs, you'll find two more bedrooms. The home comes complete with all appliances, making it move-in ready, and also includes a cozy electric fireplace for added comfort and charm. Several important updates have already been taken care of, including some newer windows, a roof replaced in 2017, as well as an updated furnace, water heater, and well pump, giving you peace of mind for years to come.

2. 2026-04-28
   historical Accepting Backup Offers 974-char remark

   Show marketing remark (974 chars)

   Welcome to this spacious 4 bedroom, 1 bathroom home located in the heart of downtown Tustin! Situated on over a quarter acre lot, this property offers plenty of room to enjoy outdoor living, gardening, or future improvements. The inviting front porch is the perfect place to relax with your morning coffee or unwind at the end of the day. Inside, you'll find a functional layout with the convenience of two bedrooms, a bathroom and laundry on the main floor. An additional room, currently used as a 5th bedroom, could be an office or converted back into a second bathroom. Upstairs, you'll find two more bedrooms. The home comes complete with all appliances, making it move-in ready, and also includes a cozy electric fireplace for added comfort and charm. Several important updates have already been taken care of, including some newer windows, a roof replaced in 2017, as well as an updated furnace, water heater, and well pump, giving you peace of mind for years to come.

3. 2026-04-28
   historical Accepting Backup Offers

   Show marketing remark (974 chars)

   Welcome to this spacious 4 bedroom, 1 bathroom home located in the heart of downtown Tustin! Situated on over a quarter acre lot, this property offers plenty of room to enjoy outdoor living, gardening, or future improvements. The inviting front porch is the perfect place to relax with your morning coffee or unwind at the end of the day. Inside, you'll find a functional layout with the convenience of two bedrooms, a bathroom and laundry on the main floor. An additional room, currently used as a 5th bedroom, could be an office or converted back into a second bathroom. Upstairs, you'll find two more bedrooms. The home comes complete with all appliances, making it move-in ready, and also includes a cozy electric fireplace for added comfort and charm. Several important updates have already been taken care of, including some newer windows, a roof replaced in 2017, as well as an updated furnace, water heater, and well pump, giving you peace of mind for years to come.

4. 2026-04-28
   historical Active - Backup Offers Accepted

   Show marketing remark (974 chars)

   Welcome to this spacious 4 bedroom, 1 bathroom home located in the heart of downtown Tustin! Situated on over a quarter acre lot, this property offers plenty of room to enjoy outdoor living, gardening, or future improvements. The inviting front porch is the perfect place to relax with your morning coffee or unwind at the end of the day. Inside, you'll find a functional layout with the convenience of two bedrooms, a bathroom and laundry on the main floor. An additional room, currently used as a 5th bedroom, could be an office or converted back into a second bathroom. Upstairs, you'll find two more bedrooms. The home comes complete with all appliances, making it move-in ready, and also includes a cozy electric fireplace for added comfort and charm. Several important updates have already been taken care of, including some newer windows, a roof replaced in 2017, as well as an updated furnace, water heater, and well pump, giving you peace of mind for years to come.

5. 2026-04-24
   price $115,000 974-char remark

   Show marketing remark (1277 chars)

   Welcome to this spacious 4 bedroom, 1 bathroom home located in the heart of downtown Tustin! Situated on over a quarter acre lot, this property offers plenty of room to enjoy outdoor living, gardening, or future improvements. The inviting front porch is the perfect place to relax with your morning coffee or unwind at the end of the day. Inside, youll find a functional layout with the convenience of two bedrooms, a bathroom and laundry on the main floor. An additional room, currently used as a 5th bedroom, could be an office or converted back into a second bathroom. Upstairs, you'll find two more bedrooms. The home comes complete with all appliances, making it move-in ready, and also includes a cozy electric fireplace for added comfort and charm. Several important updates have already been taken care of, including some newer windows, a roof replaced in 2017, as well as an updated furnace, water heater, and well pump, giving you peace of mind for years to come. Outside, the property features a shed with electricity, ideal for a workshop, hobby space, or additional storage. With its central location close to local amenities and its combination of character, updates, and space, this home offers a great opportunity for comfortable living in a convenient setting.

6. 2026-04-24
   price $115,000

   Show marketing remark (1277 chars)

   Welcome to this spacious 4 bedroom, 1 bathroom home located in the heart of downtown Tustin! Situated on over a quarter acre lot, this property offers plenty of room to enjoy outdoor living, gardening, or future improvements. The inviting front porch is the perfect place to relax with your morning coffee or unwind at the end of the day. Inside, youll find a functional layout with the convenience of two bedrooms, a bathroom and laundry on the main floor. An additional room, currently used as a 5th bedroom, could be an office or converted back into a second bathroom. Upstairs, you'll find two more bedrooms. The home comes complete with all appliances, making it move-in ready, and also includes a cozy electric fireplace for added comfort and charm. Several important updates have already been taken care of, including some newer windows, a roof replaced in 2017, as well as an updated furnace, water heater, and well pump, giving you peace of mind for years to come. Outside, the property features a shed with electricity, ideal for a workshop, hobby space, or additional storage. With its central location close to local amenities and its combination of character, updates, and space, this home offers a great opportunity for comfortable living in a convenient setting.

7. 2026-04-24
   price $115,000 1277-char remark

   Show marketing remark (1277 chars)

   Welcome to this spacious 4 bedroom, 1 bathroom home located in the heart of downtown Tustin! Situated on over a quarter acre lot, this property offers plenty of room to enjoy outdoor living, gardening, or future improvements. The inviting front porch is the perfect place to relax with your morning coffee or unwind at the end of the day. Inside, youll find a functional layout with the convenience of two bedrooms, a bathroom and laundry on the main floor. An additional room, currently used as a 5th bedroom, could be an office or converted back into a second bathroom. Upstairs, you'll find two more bedrooms. The home comes complete with all appliances, making it move-in ready, and also includes a cozy electric fireplace for added comfort and charm. Several important updates have already been taken care of, including some newer windows, a roof replaced in 2017, as well as an updated furnace, water heater, and well pump, giving you peace of mind for years to come. Outside, the property features a shed with electricity, ideal for a workshop, hobby space, or additional storage. With its central location close to local amenities and its combination of character, updates, and space, this home offers a great opportunity for comfortable living in a convenient setting.

8. 2026-04-24
   price $115,000

   Show marketing remark (1277 chars)

   Welcome to this spacious 4 bedroom, 1 bathroom home located in the heart of downtown Tustin! Situated on over a quarter acre lot, this property offers plenty of room to enjoy outdoor living, gardening, or future improvements. The inviting front porch is the perfect place to relax with your morning coffee or unwind at the end of the day. Inside, youll find a functional layout with the convenience of two bedrooms, a bathroom and laundry on the main floor. An additional room, currently used as a 5th bedroom, could be an office or converted back into a second bathroom. Upstairs, you'll find two more bedrooms. The home comes complete with all appliances, making it move-in ready, and also includes a cozy electric fireplace for added comfort and charm. Several important updates have already been taken care of, including some newer windows, a roof replaced in 2017, as well as an updated furnace, water heater, and well pump, giving you peace of mind for years to come. Outside, the property features a shed with electricity, ideal for a workshop, hobby space, or additional storage. With its central location close to local amenities and its combination of character, updates, and space, this home offers a great opportunity for comfortable living in a convenient setting.

9. 2026-04-14
   historical
10. 2026-04-13
    listed $122,500 Active 1277-char remark

    Show marketing remark (974 chars)

    Welcome to this spacious 4 bedroom, 1 bathroom home located in the heart of downtown Tustin! Situated on over a quarter acre lot, this property offers plenty of room to enjoy outdoor living, gardening, or future improvements. The inviting front porch is the perfect place to relax with your morning coffee or unwind at the end of the day. Inside, you'll find a functional layout with the convenience of two bedrooms, a bathroom and laundry on the main floor. An additional room, currently used as a 5th bedroom, could be an office or converted back into a second bathroom. Upstairs, you'll find two more bedrooms. The home comes complete with all appliances, making it move-in ready, and also includes a cozy electric fireplace for added comfort and charm. Several important updates have already been taken care of, including some newer windows, a roof replaced in 2017, as well as an updated furnace, water heater, and well pump, giving you peace of mind for years to come.

11. 2026-04-13
    listed $122,500 Active 974-char remark

    Show marketing remark (974 chars)

    Welcome to this spacious 4 bedroom, 1 bathroom home located in the heart of downtown Tustin! Situated on over a quarter acre lot, this property offers plenty of room to enjoy outdoor living, gardening, or future improvements. The inviting front porch is the perfect place to relax with your morning coffee or unwind at the end of the day. Inside, you'll find a functional layout with the convenience of two bedrooms, a bathroom and laundry on the main floor. An additional room, currently used as a 5th bedroom, could be an office or converted back into a second bathroom. Upstairs, you'll find two more bedrooms. The home comes complete with all appliances, making it move-in ready, and also includes a cozy electric fireplace for added comfort and charm. Several important updates have already been taken care of, including some newer windows, a roof replaced in 2017, as well as an updated furnace, water heater, and well pump, giving you peace of mind for years to come.

12. 2026-04-13
    listed $122,500 Active

    Show marketing remark (974 chars)

    Welcome to this spacious 4 bedroom, 1 bathroom home located in the heart of downtown Tustin! Situated on over a quarter acre lot, this property offers plenty of room to enjoy outdoor living, gardening, or future improvements. The inviting front porch is the perfect place to relax with your morning coffee or unwind at the end of the day. Inside, you'll find a functional layout with the convenience of two bedrooms, a bathroom and laundry on the main floor. An additional room, currently used as a 5th bedroom, could be an office or converted back into a second bathroom. Upstairs, you'll find two more bedrooms. The home comes complete with all appliances, making it move-in ready, and also includes a cozy electric fireplace for added comfort and charm. Several important updates have already been taken care of, including some newer windows, a roof replaced in 2017, as well as an updated furnace, water heater, and well pump, giving you peace of mind for years to come.

13. 2026-04-13
    listed $122,500 Active

    Show marketing remark (974 chars)

    Welcome to this spacious 4 bedroom, 1 bathroom home located in the heart of downtown Tustin! Situated on over a quarter acre lot, this property offers plenty of room to enjoy outdoor living, gardening, or future improvements. The inviting front porch is the perfect place to relax with your morning coffee or unwind at the end of the day. Inside, you'll find a functional layout with the convenience of two bedrooms, a bathroom and laundry on the main floor. An additional room, currently used as a 5th bedroom, could be an office or converted back into a second bathroom. Upstairs, you'll find two more bedrooms. The home comes complete with all appliances, making it move-in ready, and also includes a cozy electric fireplace for added comfort and charm. Several important updates have already been taken care of, including some newer windows, a roof replaced in 2017, as well as an updated furnace, water heater, and well pump, giving you peace of mind for years to come.

14. 2026-04-13
    listed $122,500 Active

    Show marketing remark (974 chars)

    Welcome to this spacious 4 bedroom, 1 bathroom home located in the heart of downtown Tustin! Situated on over a quarter acre lot, this property offers plenty of room to enjoy outdoor living, gardening, or future improvements. The inviting front porch is the perfect place to relax with your morning coffee or unwind at the end of the day. Inside, you'll find a functional layout with the convenience of two bedrooms, a bathroom and laundry on the main floor. An additional room, currently used as a 5th bedroom, could be an office or converted back into a second bathroom. Upstairs, you'll find two more bedrooms. The home comes complete with all appliances, making it move-in ready, and also includes a cozy electric fireplace for added comfort and charm. Several important updates have already been taken care of, including some newer windows, a roof replaced in 2017, as well as an updated furnace, water heater, and well pump, giving you peace of mind for years to come.

15. 2017-06-06
    soldstatus $58,900
16. 2017-06-06
    soldstatus $58,900
17. 2017-06-06
    soldstatus $58,900
18. 2016-08-11
    listed $59,900
19. 2016-08-11
    listed $59,900
20. 2016-08-11
    listed $59,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $16,865
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$1,349
• − Management: −$1,349
• − Depreciation: −$3,345
• Taxable income: $2,079
• Est. tax owed @ 24.0%: −$499
• After-tax cash flow: $3,287/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: Pine River Area Schools
• NCES district ID: 2628200
• Math proficiency: 22% ▼ -9.00%
• Reading proficiency: 38% ▼ -4.00%
• Median HH income: $41,589
• Composite: 25.34/100
• National rank: #7475
• State rank: #369 of 540 in MI

Livability — Tustin

• Score: 62/100
• State rank: #540
• US rank: #16597

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tustin, MI
• Population (ZIP): 2,443

Population outlook (Osceola County) Hauer SSP2

• Today (2025): 21,724 people
• By 2030: 20,769 · -4.4%
• By 2040: 18,720 · -13.8%
• By 2050: 16,611 · -23.5%
• By 2075: 11,942 · -45.0%
• By 2100: 7,546 · -65.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 4%
• Common ancestry: Iranian 6% Lithuanian 4% Romanian 4%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · German/W. Germanic 2%

Political lean MEDSL · Osceola

• 2024 margin: Solid R (+47.9) · D 25.2% · R 73.1% · Other 1.7%
• 2008→2024 swing: -37.7pp toward R · 2008: -10.1pp · 2024: -47.9pp
• All cycles: 2024: R+47.9 2020: R+46.3 2016: R+43.7 2012: R+21.0 2008: R+10.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 15.12%
• Current HPI: 271.6507
• 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

+92.0% since first listed

20 events — show timeline

• 2026-04-28 Contingent — REALCOMP
• 2026-04-28 Contingent — MiRealSource-MiMLS
• 2026-04-28 Contingent — MiRealSource-MiMLS
• 2026-04-28 Contingent — SW Michigan MLS
• 2026-04-24 Price Changed $115,000 MiRealSource-MiMLS
• 2026-04-24 Price Changed $115,000 MiRealSource-MiMLS
• 2026-04-24 Price Changed $115,000 REALCOMP
• 2026-04-24 Price Changed $115,000 SW Michigan MLS
• 2026-04-14 Listing Removed — REALCOMP
• 2026-04-13 Listed $122,500 REALCOMP
• 2026-04-13 Listed $122,500 REALCOMP
• 2026-04-13 Listed $122,500 SW Michigan MLS
• 2026-04-13 Listed $122,500 MiRealSource-MiMLS
• 2026-04-13 Listed $122,500 MiRealSource-MiMLS
• 2017-06-06 Sold (MLS) $58,900 REALCOMP
• 2017-06-06 Sold (MLS) $58,900 SW Michigan MLS
• 2017-06-06 Sold (MLS) $58,900 REALCOMP
• 2016-08-11 Listed $59,900 REALCOMP
• 2016-08-11 Listed $59,900 SW Michigan MLS
• 2016-08-11 Listed $59,900 REALCOMP