2132 Birch Dr · Evart, MI 49679

$49,900

1 bd · 1.0 ba · 600 sqft · SingleFamily · 126 Days on market

Built 1950 0.41 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Fixer-upper but in a great recreation area, close to golf, hunting, camping and with lake privileges' on Woods Lake (great bass and pan fishing). Just north of M10 between Claire and Evart. Could be a great escape without going all the way up north! Agent is owner, thought I'd have time to re-model but off to other projects forces sale.

Key facts

• Lake privileges
• 0.41 acre lot
• Built 1950

Tags

• LAKE PRIVILEGES

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $275 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($784 rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.9% vs local median 3.4% in Evart — 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 72/100 on livability (#262 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, amenities F, commute F.
• Evart Public Schools (rural): math 27% / reading 34% proficiency, ranked #367 of 540 in MI (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 14 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 $5k of equity ($345 loan paydown + $5k 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 $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, 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 126 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $10k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $13k; list at $50k implies a 284% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $43,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 126 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
9. 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.
10. 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.
11. 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: 1.57% ✓
• Cap rate: 12.90%
• Cash-on-cash: 23.60%
• DSCR: 2.05
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $109,800
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2098 Maple Rd	0.33mi	2/1.0 (+1)	682 (+14%)	24mo	$125,000	$183	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 42.0%
• Equity multiple: 4.20×
• Total profit: $44,692
• Equity at exit: $44,954

10-year hold

• IRR: 36.3%
• Equity multiple: 9.44×
• Total profit: $117,870
• Equity at exit: $96,945

Cash invested: $13,972 (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 49679

• Home prices YoY: 5.4%
• Active inventory: 14
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $784 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $748/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$165
• Net cashflow: $275

Break-even live

Break-even rent $437

Max offer price $49,900

Occupancy floor 60%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-03-19
   status Pending 338-char remark

   Show marketing remark (338 chars)

   Fixer-upper but in a great recreation area, close to golf, hunting, camping and with lake privileges' on Woods Lake (great bass and pan fishing). Just north of M10 between Claire and Evart. Could be a great escape without going all the way up north! Agent is owner, thought I'd have time to re-model but off to other projects forces sale.

2. 2026-03-19
   status Pending

   Show marketing remark (338 chars)

   Fixer-upper but in a great recreation area, close to golf, hunting, camping and with lake privileges' on Woods Lake (great bass and pan fishing). Just north of M10 between Claire and Evart. Could be a great escape without going all the way up north! Agent is owner, thought I'd have time to re-model but off to other projects forces sale.

3. 2025-11-23
   status Active
4. 2025-11-22
   historical
5. 2025-11-21
   price $49,900 338-char remark

   Show marketing remark (338 chars)

   Fixer-upper but in a great recreation area, close to golf, hunting, camping and with lake privileges' on Woods Lake (great bass and pan fishing). Just north of M10 between Claire and Evart. Could be a great escape without going all the way up north! Agent is owner, thought I'd have time to re-model but off to other projects forces sale.

6. 2025-11-20
   price $49,900
7. 2025-11-12
   listed $59,900 Active

   Show marketing remark (338 chars)

   Fixer-upper but in a great recreation area, close to golf, hunting, camping and with lake privileges' on Woods Lake (great bass and pan fishing). Just north of M10 between Claire and Evart. Could be a great escape without going all the way up north! Agent is owner, thought I'd have time to re-model but off to other projects forces sale.

8. 2025-11-12
   listed $32,500

   Show marketing remark (338 chars)

   Fixer-upper but in a great recreation area, close to golf, hunting, camping and with lake privileges' on Woods Lake (great bass and pan fishing). Just north of M10 between Claire and Evart. Could be a great escape without going all the way up north! Agent is owner, thought I'd have time to re-model but off to other projects forces sale.

9. 2025-11-12
   listed $59,900 Active 338-char remark

   Show marketing remark (338 chars)

   Fixer-upper but in a great recreation area, close to golf, hunting, camping and with lake privileges' on Woods Lake (great bass and pan fishing). Just north of M10 between Claire and Evart. Could be a great escape without going all the way up north! Agent is owner, thought I'd have time to re-model but off to other projects forces sale.

10. 2011-10-13
    soldstatus $13,000

ⓘ 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: $9,413
• − Mortgage interest: −$2,795
• − Property taxes: −$748
• − Insurance: −$250
• − Repairs & maintenance: −$753
• − Management: −$753
• − Depreciation: −$1,452
• Taxable income: $2,662
• Est. tax owed @ 24.0%: −$639
• After-tax cash flow: $2,659/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: Evart Public Schools
• NCES district ID: 2613560
• Math proficiency: 27% ▲ 2.00%
• Reading proficiency: 34% ▬ 0.00%
• Median HH income: $37,734
• Composite: 25.42/100
• National rank: #7455
• State rank: #367 of 540 in MI

Livability — Evart

• Score: 72/100
• State rank: #262
• US rank: #6440

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,332

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 (90%)
• Race & ethnicity: White 90% Two or more races 4% Black 3% Hispanic / Latino 3%
• Common ancestry: Romanian 3% Iranian 2% Lithuanian 2%
• Foreign-born: 0%
• Languages at home: 88% English-only · German/W. Germanic 10% Spanish 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: ▲ 14.14%
• Current HPI: 277.4887
• 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

+283.8% since first listed

10 events — show timeline

• 2026-03-19 Pending — MiRealSource-MiMLS
• 2026-03-19 Pending — REALCOMP
• 2025-11-23 Relisted — REALCOMP
• 2025-11-22 Listing Removed — REALCOMP
• 2025-11-21 Price Changed $49,900 MiRealSource-MiMLS
• 2025-11-20 Price Changed $49,900 REALCOMP
• 2025-11-12 Listed $59,900 REALCOMP
• 2025-11-12 Listed $59,900 MiRealSource-MiMLS
• 2025-11-12 Listed $32,500 REALCOMP
• 2011-10-13 Sold (Public Records) $13,000 Public Records