709 N Michigan Ave · Hastings, MI 49058

$169,900

3 bd · 1.0 ba · 1,152 sqft · SingleFamily public records · 12 Days on market

Built 1928 5,924 sqft lot Est $223k · 24% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +14.0/30.0
• DSCR +4.2/10.0
• Livability +4.0/5.0
• 1% rule +3.9/10.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming home in a great area in Hastings. Walking distance to downtown, Riverwalk trail, and much more. Come take a look!

Key facts

• Riverwalk trail
• 5,924 sq ft lot
• Garage

Tags

• WALKING DISTANCE TO DOWNTOWN
• RIVERWALK TRAIL

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $21 ($257/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $151k (10.9% below list).
• Recommended offer: $151k (10.9% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 4.0% in Hastings — 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 79/100 on livability (#95 in MI, #2,201 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: schools C-, employment D, commute F.
• Hastings Area School District (town): math 33% / reading 48% proficiency, ranked #203 of 540 in MI (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 136 active listings in the ZIP; 171 units permitted in Barry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Barry County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 9y 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 $127k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $151,339 (10.9% below list)

Questions for the listing agent

1. Built in 1928 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
4. 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.
5. 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.
6. 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: 0.89% ✗
• Cap rate: 6.44%
• Cash-on-cash: 0.54%
• DSCR: 1.02
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $223,488
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
903 N Michigan Ave	0.11mi	3/1.0	1,256 (+9%)	7mo	$215,000	$171	74
409 E Colfax St	0.17mi	3/1.0	1,200 (+4%)	18mo	$195,000	$163	70
109 E Blair St	0.05mi	3/1.5	1,044 (-9%)	14mo	$205,000	$196	68
208 W Grant St	0.20mi	3/1.5	1,236 (+7%)	15mo	$200,000	$162	64
617 E Thorn St	0.43mi	2/1.0 (-1)	1,130 (-2%)	10mo	$165,000	$146	63
521 E State Rd	0.26mi	2/1.0 (-1)	1,008 (-12%)	1mo	$225,000	$223	61
615 E Mill St	0.47mi	3/2.0	1,066 (-8%)	9mo	$192,500	$181	54
1130 N Broadway St	0.40mi	3/1.0	990 (-14%)	8mo	$210,000	$212	51
418 S Dibble St	0.71mi	3/1.0	1,200 (+4%)	11mo	$240,000	$200	51
1011 N Wilson St	0.37mi	3/1.0	1,008 (-12%)	14mo	$235,000	$233	50
1030 N Jefferson St	0.24mi	2/1.0 (-1)	980 (-15%)	16mo	$190,000	$194	46
1611 N Jefferson St	0.56mi	3/2.0	1,293 (+12%)	13mo	$235,000	$182	39

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: -15.4%
• Equity multiple: 0.45×
• Total profit: $-26,143
• Equity at exit: $25,333

10-year hold

• IRR: -6.9%
• Equity multiple: 0.56×
• Total profit: $-20,914
• Equity at exit: $14,690

Cash invested: $47,572 (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 49058

• Active inventory: 136
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,513 medium
• Mortgage (P&I): −$891
• Tax est. 1.5%: −$212 /mo · $2,548/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $21

Break-even live

Break-even rent $1,486

Max offer price $169,900

Occupancy floor 94%

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-04-27
   status Pending 122-char remark

   Show marketing remark (122 chars)

   Charming home in a great area in Hastings. Walking distance to downtown, Riverwalk trail, and much more. Come take a look!

2. 2026-04-27
   status Pending 122-char remark

   Show marketing remark (122 chars)

   Charming home in a great area in Hastings. Walking distance to downtown, Riverwalk trail, and much more. Come take a look!

3. 2026-04-27
   status Pending

   Show marketing remark (122 chars)

   Charming home in a great area in Hastings. Walking distance to downtown, Riverwalk trail, and much more. Come take a look!

4. 2026-04-15
   listed $169,900 Active 122-char remark

   Show marketing remark (122 chars)

   Charming home in a great area in Hastings. Walking distance to downtown, Riverwalk trail, and much more. Come take a look!

5. 2026-04-15
   listed $169,900 Active 122-char remark

   Show marketing remark (122 chars)

   Charming home in a great area in Hastings. Walking distance to downtown, Riverwalk trail, and much more. Come take a look!

6. 2026-04-15
   listed $169,900 Active

   Show marketing remark (122 chars)

   Charming home in a great area in Hastings. Walking distance to downtown, Riverwalk trail, and much more. Come take a look!

7. 2023-05-25
   soldstatus $127,000
8. 2023-05-19
   soldstatus $127,000 Sold
9. 2023-05-19
   soldstatus $127,000 Sold
10. 2023-05-06
    status Pending
11. 2023-05-06
    status Pending
12. 2023-05-06
    status Pending
13. 2023-05-04
    listed $125,000 Active
14. 2023-05-04
    listed $125,000 Active
15. 2023-05-04
    listed $125,000 Active
16. 2017-06-28
    soldstatus $89,900
17. 2017-06-21
    soldstatus $89,900
18. 2017-06-21
    soldstatus $89,900 Sold
19. 2017-05-01
    status Pending
20. 2017-03-30
    listed $89,900 Active
21. 2017-03-27
    listed $89,900
22. 2015-12-08
    soldstatus $45,000
23. 1998-05-19
    soldstatus $40,000

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,161
• − Mortgage interest: −$9,517
• − Property taxes: −$2,548
• − Insurance: −$850
• − Repairs & maintenance: −$1,453
• − Management: −$1,453
• − Depreciation: −$4,943
• Taxable loss: −$2,603
• Est. tax savings @ 24.0%: +$625
• After-tax cash flow: $882/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: Hastings Area School District
• NCES district ID: 2617970
• Math proficiency: 33% ▼ -5.00%
• Reading proficiency: 48% ▼ -2.00%
• Median HH income: $48,478
• Composite: 34.71/100
• National rank: #5137
• State rank: #203 of 540 in MI

Livability — Hastings

• Score: 79/100
• State rank: #95
• US rank: #2201

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hastings, MI
• City population: 19,513
• Population (ZIP): 19,513

Population outlook (Barry County) Hauer SSP2

• Today (2025): 59,601 people
• By 2030: 59,185 · -0.7%
• By 2040: 57,121 · -4.2%
• By 2050: 53,139 · -10.8%
• By 2075: 42,814 · -28.2%
• By 2100: 29,357 · -50.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Iranian 8% Romanian 3% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Barry

• 2024 margin: Solid R (+34.3) · D 32.1% · R 66.4% · Other 1.5%
• 2008→2024 swing: -24.6pp toward R · 2008: -9.8pp · 2024: -34.3pp
• All cycles: 2024: R+34.3 2020: R+32.5 2016: R+33.3 2012: R+18.1 2008: R+9.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -137.56%
• Current HPI: 224.6353
• 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

+324.8% since first listed

23 events — show timeline

• 2026-04-27 Pending — REALCOMP
• 2026-04-27 Pending — MiRealSource-MiMLS
• 2026-04-27 Pending — SW Michigan MLS
• 2026-04-15 Listed $169,900 REALCOMP
• 2026-04-15 Listed $169,900 SW Michigan MLS
• 2026-04-15 Listed $169,900 MiRealSource-MiMLS
• 2023-05-25 Sold (Public Records) $127,000 Public Records
• 2023-05-19 Sold (MLS) $127,000 SW Michigan MLS
• 2023-05-19 Sold (MLS) $127,000 REALCOMP
• 2023-05-06 Pending — MiRealSource-MiMLS
• 2023-05-06 Pending — REALCOMP
• 2023-05-06 Pending — SW Michigan MLS
• 2023-05-04 Listed $125,000 MiRealSource-MiMLS
• 2023-05-04 Listed $125,000 SW Michigan MLS
• 2023-05-04 Listed $125,000 REALCOMP
• 2017-06-28 Sold (Public Records) $89,900 Public Records
• 2017-06-21 Sold (MLS) $89,900 SW Michigan MLS
• 2017-06-21 Sold (MLS) $89,900 REALCOMP
• 2017-05-01 Pending — SW Michigan MLS
• 2017-03-30 Listed $89,900 SW Michigan MLS
• 2017-03-27 Listed $89,900 REALCOMP
• 2015-12-08 Sold (Public Records) $45,000 Public Records
• 1998-05-19 Sold (Public Records) $40,000 Public Records