1006 Main St · Essexville, MI 48732

$139,500

4 bd · 2.0 ba · 1,478 sqft · SingleFamily · 17 Days on market

8,712 sqft lot Est $191k · 27% 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 +18.9/30.0
• ARV discount +15.0/15.0
• DSCR +6.0/10.0
• 1% rule +5.1/10.0
• Livability +3.7/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Essexville 2 Unit property. Lower Unit includes 3 bedrooms and 1 bath. Upper Unit includes 1 bed and 1 bath with a spacious living room/dining room area. Both units share additional basement storage plus there are 2 washer/dryer hookups available so each unit can have its own laundry. Appliances on site are available with the sale. Both units are currently on month to month leases. Tenants pay all utilities. Spacious driveway provides plenty of parking space.

Key facts

• Washer dryer hookups
• Parking space
• Spacious driveway

Tags

• ADDITIONAL BASEMENT STORAGE
• WASHER DRYER HOOKUPS
• SPACIOUS DRIVEWAY
• PARKING SPACE

Property features AI

Finance

• Other: Zoned residential
• Financial info: Two-unit building; Unit 1 currently occupied (rent listed as $845); Unit 2 currently occupied (rent listed as $400)

Exterior

• Parking: Paved driveway with 3 or more parking spaces
• Utilities: Public water; Public sanitary sewer; Electricity connected; Natural gas connected; Separate electric, gas, and heat for units
• Home design: Multi-family property (1 to 4 units); 1 1/2-story structure; Located on a corner
• Construction: Block foundation; Year built not provided
• Exterior features: Aluminum exterior; Corner lot; Shed on property; City/county roads with curbs; Frontage: 85 feet

Interior

• Kitchen: Range/oven; Refrigerator
• Bedrooms: First-floor bedroom(s)
• Flooring: Concrete in at least one bedroom
• Bathrooms: Two full bathrooms (including a main-floor full bathroom)
• Heating & cooling: Forced air heating; Space heater; Natural gas fuel
• Interior features: Basement present (full, block foundation); Sidewalks
• Laundry & utility: Washer; Dryer; Gas water heater

🏷️ Possibly a rental listed for sale. The $139,500 price doesn't fit this home's estimated sale value (~$190,662) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $144 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).
• Recommended offer: $137k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 4.3% in Essexville — 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 74/100 on livability (#165 in MI, #4,369 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Essexville-Hampton Public Schools (suburban): math 29% / reading 49% proficiency, ranked #217 of 540 in MI (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 59 active listings in the ZIP; 39 units permitted in Bay County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $964 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Bay County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($137k) is reasonable based on typical stale-listing flexibility.

Recommended offer $137,407 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.01% ✓
• Cap rate: 7.53%
• Cash-on-cash: 4.43%
• DSCR: 1.20
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $190,662
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
707 Lynn St	0.21mi	4/2.0	1,480 (+0%)	1mo	$125,000	$84	89
1606 Prairie St	0.13mi	3/1.0 (-1)	1,484 (+0%)	9mo	$162,683	$110	76
1100 Pine St	0.18mi	4/1.5	1,569 (+6%)	5mo	$210,000	$134	75
2100 N Brentwood Pl	0.38mi	3/2.0 (-1)	1,524 (+3%)	0mo	$217,500	$143	72
705 Burns St	0.24mi	3/1.0 (-1)	1,389 (-6%)	0mo	$170,500	$123	69
605 Scheurmann St	0.42mi	3/2.0 (-1)	1,475 (-0%)	10mo	$190,000	$129	67
1806 Ames St	0.23mi	3/2.0 (-1)	1,374 (-7%)	9mo	$187,000	$136	65
1605 Hudson St	0.20mi	4/1.0	1,260 (-15%)	3mo	$145,000	$115	60
2200 Tackle St	0.50mi	3/2.5 (-1)	1,452 (-2%)	9mo	$185,000	$127	59
502 Borton Ave	0.71mi	3/2.5 (-1)	1,452 (-2%)	6mo	$91,500	$63	52
1305 Oak St	0.33mi	3/1.5 (-1)	1,294 (-12%)	9mo	$173,000	$134	50
310 Burns St	0.53mi	3/1.5 (-1)	1,320 (-11%)	4mo	$225,000	$170	47

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: -9.4%
• Equity multiple: 0.66×
• Total profit: $-13,402
• Equity at exit: $20,800

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $245
• Equity at exit: $12,061

Cash invested: $39,060 (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 48732

• Home prices YoY: -21.6%
• Active inventory: 59
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,408 medium
• Mortgage (P&I): −$732
• Tax from tax record: −$178 /mo · $2,140/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $144

Break-even live

Break-even rent $1,225

Max offer price $139,500

Occupancy floor 85%

Sensitivity live

Price	-10% $223	-5% $184	+0% $144	+5% $105	+10% $65
Rent	-10% $33	-5% $89	+0% $144	+5% $200	+10% $255
Rate	-1.0pp $214	-0.5pp $180	base $144	+0.5pp $108	+1.0pp $71

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: $34,875
• Closing costs: $4,185
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-16
   status $139,500 Pending 17 DOM
2. 2026-06-15
   days on market $139,500 Active 17 DOM
3. 2026-06-14
   days on market $139,500 Active 15 DOM
4. 2026-06-12
   days on market $139,500 Active 14 DOM
5. 2026-06-09
   days on market $139,500 Active 11 DOM
6. 2026-06-08
   days on market $139,500 Active 10 DOM
7. 2026-06-07
   days on market $139,500 Active 9 DOM
8. 2026-06-05
   days on market $139,500 Active 6 DOM
9. 2026-06-03
   days on market $139,500 Active 5 DOM
10. 2026-06-02
    days on market $139,500 Active 4 DOM
11. 2026-06-01
    days on market $139,500 Active 3 DOM
12. 2026-05-31
    days on market $139,500 Active 2 DOM
13. 2026-05-28
    listed $139,500 Active

ⓘ 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: $2,140 · $178/mo
• Projected year-2 tax: $2,144 · $179/mo
• Expected delta: +$4/yr ($0/mo · 0.2%)

ⓘ 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 3/10 Moderate 7 d/yr ≥96°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,893
• − Mortgage interest: −$7,814
• − Property taxes: −$2,140
• − Insurance: −$698
• − Repairs & maintenance: −$1,351
• − Management: −$1,351
• − Depreciation: −$4,058
• Taxable loss: −$520
• Est. tax savings @ 24.0%: +$125
• After-tax cash flow: $1,854/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: Essexville-Hampton Public Schools
• NCES district ID: 2613530
• Math proficiency: 29% ▼ -7.00%
• Reading proficiency: 49% ▼ -3.00%
• Median HH income: $52,936
• Composite: 33.87/100
• National rank: #5349
• State rank: #217 of 540 in MI

Livability — Essexville

• Score: 74/100
• State rank: #165
• US rank: #4369

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Essexville, MI
• County: Bay County · 36,975 people
• Metro: Bay City, MI
• Population (ZIP): 11,340
• Household income: $57,903
• Rent vs Own: 31.6% rent · 68.4% own
• Severe rent burden: 200.0

Population outlook (Bay County) Hauer SSP2

• Today (2025): 101,476 people
• By 2030: 98,152 · -3.3%
• By 2040: 89,711 · -11.6%
• By 2050: 80,614 · -20.6%
• By 2075: 60,544 · -40.3%
• By 2100: 41,603 · -59.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 7% Two or more races 5%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 15% Lithuanian 11% English 2%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Bay

• 2024 margin: R (+14.7) · D 42.0% · R 56.7% · Other 1.3%
• 2008→2024 swing: -30.0pp toward R · 2008: 15.3pp · 2024: -14.7pp
• All cycles: 2024: R+14.7 2020: R+11.6 2016: R+12.6 2012: D+6.0 2008: D+15.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -52.53%
• Current HPI: 191.1777
• Rent YoY: —
• Metro: Bay City, 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

1 event — show timeline

• 2026-05-28 Listed $139,500 MiRealSource-MiMLS

Property tax history

+0.6%/yr

Latest (2025): $2,140 · -11.0% YoY. Source: county tax records.