207 W Washington St · Coleman, MI 48618

$99,000

3 bd · 2.0 ba · 1,854 sqft · SingleFamily public records · 3 Days on market

Built 1900 0.33 ac lot Est $176k · 44% under

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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 +26.9/30.0
• ARV discount +15.0/15.0
• DSCR +9.3/10.0
• 1% rule +7.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great family home. Has the old world charm but with all the updates. The home offers 4 bedrooms and 2 full baths. Updates include second floor bathroom, roof, kitchen. Move right in a enjoy summer on the deck. Home is priced to sell.

Key facts

• Tall ceilings
• Double lot
• Large side yard

Tags

• DOUBLE LOT
• LARGE SIDE YARD
• STAMPED CONCRETE DRIVEWAY
• ON-DEMAND WATER HEATER
• TALL CEILINGS
• OVERSIZED WINDOWS

Property features AI

Exterior

• Parking: Detached garage (12 x 28) with space for 1 vehicle
• Utilities: Public water; Public sanitary sewer; Natural gas
• Home design: Residential property; 1 1/2-story design; Built in 1900
• Construction: Cinder block construction; Michigan-style basement
• Exterior features: Cinder block exterior; Frontage on a road; Approximately 0.33 acres (120 ft frontage)

Interior

• Kitchen: Kitchen on main level (approx. 11 x 12)
• Bedrooms: Two bedrooms on the main level; Two bedrooms on the upper level; Main level bedrooms approximately 13 x 13 and 11 x 11; Upper level bedrooms approximately 13 (width) and 10 x 13
• Bathrooms: Two full bathrooms (one on main level, one on upper level)
• Heating & cooling: Forced air heating; Natural gas fuel
• Interior features: Has basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $274 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).

Location & tenants

• Location reads 63/100 on livability (#525 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, crime B; Watch: health & safety C-, schools F, amenities F.
• Coleman Community Schools (rural): math 16% / reading 39% proficiency, ranked #400 of 540 in MI (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 28 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 320 units permitted in Midland County in 2024 (204 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 23y 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 $64k; list at $99k implies a 55% 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 $99,000

Questions for the listing agent

1. Built in 1900 — 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. 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?
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: 1.26% ✓
• Cap rate: 9.61%
• Cash-on-cash: 11.86%
• DSCR: 1.53
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $176,130
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
207 W Washington St	0.00mi	4/2.0 (+1)	1,762 (-5%)	0mo	$85,500	$49	87
206 W Railway St	0.03mi	3/2.0	1,768 (-5%)	7mo	$189,500	$107	85
208 W Washington St	0.03mi	4/2.0 (+1)	1,728 (-7%)	0mo	$96,000	$56	82
306 W Adams St	0.12mi	3/1.5	1,746 (-6%)	9mo	$170,000	$97	75
815 N Coleman Rd	0.42mi	3/2.0	1,756 (-5%)	19mo	$147,000	$84	56
309 N Sixth St	0.15mi	4/1.0 (+1)	2,100 (+13%)	17mo	$199,900	$95	48
401 E Railway St	0.37mi	3/2.0	1,600 (-14%)	18mo	$172,000	$108	44

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: 1.4%
• Equity multiple: 1.05×
• Total profit: $1,440
• Equity at exit: $14,761

10-year hold

• IRR: 11.0%
• Equity multiple: 1.86×
• Total profit: $23,863
• Equity at exit: $8,560

Cash invested: $27,720 (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 48618

• Home prices YoY: -19.1%
• Active inventory: 28
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,247 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$151 /mo · $1,809/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $274

Break-even live

Break-even rent $900

Max offer price $99,000

Occupancy floor 73%

Sensitivity live

Price	-10% $330	-5% $302	+0% $274	+5% $246	+10% $218
Rent	-10% $175	-5% $225	+0% $274	+5% $323	+10% $372
Rate	-1.0pp $324	-0.5pp $299	base $274	+0.5pp $248	+1.0pp $222

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
313 Hamilton St Coleman, MI	2.0–3.0	1.0–2.0	1099	$1,247	$1.13	45d	1	0.44mi

Listing history 13 events

1. 2026-05-20
   listed $99,000 Active
2. 2014-12-08
   soldstatus $64,000
3. 2014-12-02
   soldstatus $64,000 233-char remark

   Show marketing remark (233 chars)

   Great family home. Has the old world charm but with all the updates. The home offers 4 bedrooms and 2 full baths. Updates include second floor bathroom, roof, kitchen. Move right in a enjoy summer on the deck. Home is priced to sell.

4. 2014-12-02
   soldstatus $64,000 233-char remark

   Show marketing remark (233 chars)

   Great family home. Has the old world charm but with all the updates. The home offers 4 bedrooms and 2 full baths. Updates include second floor bathroom, roof, kitchen. Move right in a enjoy summer on the deck. Home is priced to sell.

5. 2014-05-31
   listed $69,900 233-char remark

   Show marketing remark (233 chars)

   Great family home. Has the old world charm but with all the updates. The home offers 4 bedrooms and 2 full baths. Updates include second floor bathroom, roof, kitchen. Move right in a enjoy summer on the deck. Home is priced to sell.

6. 2014-05-31
   listed $69,900 233-char remark

   Show marketing remark (233 chars)

   Great family home. Has the old world charm but with all the updates. The home offers 4 bedrooms and 2 full baths. Updates include second floor bathroom, roof, kitchen. Move right in a enjoy summer on the deck. Home is priced to sell.

7. 2008-11-07
   soldstatus $44,100
8. 2005-04-29
   soldstatus $98,700
9. 2003-12-09
   historical
10. 2003-10-10
    listed $94,500
11. 2001-05-25
    soldstatus $67,000
12. 2000-11-22
    soldstatus $45,000
13. 1995-04-01
    soldstatus $21,000

ⓘ 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: $1,809 · $151/mo
• Projected year-2 tax: $1,809 · $151/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 ≥97°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: $14,964
• − Mortgage interest: −$5,546
• − Property taxes: −$1,809
• − Insurance: −$495
• − Repairs & maintenance: −$1,197
• − Management: −$1,197
• − Depreciation: −$2,880
• Taxable income: $1,840
• Est. tax owed @ 24.0%: −$442
• After-tax cash flow: $2,846/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: Coleman Community Schools
• NCES district ID: 2610200
• Math proficiency: 16% ▼ -9.00%
• Reading proficiency: 39% ▬ 0.00%
• Median HH income: $42,079
• Composite: 23.28/100
• National rank: #7927
• State rank: #400 of 540 in MI

Livability — Coleman

• Score: 63/100
• State rank: #525
• US rank: #15768

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Coleman, MI
• Population (ZIP): 5,110

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 (94%)
• Race & ethnicity: White 94% Two or more races 3% Black 2% Hispanic / Latino 2%
• Common ancestry: Romanian 7% Lithuanian 3% Iranian 2%
• Foreign-born: 0% · Canada

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: ▼ -53.15%
• Current HPI: 225.8726
• 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

+371.4% since first listed

13 events — show timeline

• 2026-05-20 Listed $99,000 MiRealSource-MiMLS
• 2014-12-08 Sold (Public Records) $64,000 Public Records
• 2014-12-02 Sold (MLS) $64,000 MiRealSource-MiMLS
• 2014-12-02 Sold (MLS) $64,000 REALCOMP
• 2014-05-31 Listed $69,900 MiRealSource-MiMLS
• 2014-05-31 Listed $69,900 REALCOMP
• 2008-11-07 Sold (Public Records) $44,100 Public Records
• 2005-04-29 Sold (Public Records) $98,700 Public Records
• 2003-12-09 Listing Removed — MiRealSource-MiMLS
• 2003-10-10 Listed $94,500 MiRealSource-MiMLS
• 2001-05-25 Sold (Public Records) $67,000 Public Records
• 2000-11-22 Sold (Public Records) $45,000 Public Records
• 1995-04-01 Sold (Public Records) $21,000 Public Records

Property tax history

+4.7%/yr

Latest (2024): $1,809 · +2.5% YoY. Source: county tax records.