5801 Sturgeon Ave · Midland, MI 48640

$200,000

4 bd · 2.0 ba · 1,384 sqft · SingleFamily public records · 36 Days on market

Built 1935 0.45 ac lot $145/sqft · 16% below area Est $273k · 27% under

---

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 +16.6/30.0
• ARV discount +15.0/15.0
• DSCR +5.1/10.0
• Schools +4.9/10.0
• 1% rule +4.4/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

STAND OUT ON STURGEON AVENUE! Welcome to this four bedroom, two bathroom ranch right on Sturgeon Creek. With nearly half an acre lot and 1,384 square feet of living space, this highly desirable home is looking for new owners. The partially finished basement adds additional living and storage space to the house. Three bedrooms and both bathrooms are found on the main floor, while the fourth bedroom and family room are located in the basement making the most of the square footage in your space. Outside, the fully fenced in yard highlights deck perfect for entertaining and a sandbox for the kids! You'll have plenty of space to add your own pool or playset as seen in the pictures. The privacy and peacefulness of the back yard is sure to make you feel at home. All this and more is waiting for you - call today for your private tour!

Key facts

• Deck
• Fully fenced yard
• Sandbox

Tags

• PARTIALLY FINISHED BASEMENT
• FULLY FENCED YARD
• DECK
• SANDBOX

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $120 ($1k/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 $188k (6.1% below list).
• Recommended offer: $188k (6.1% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 4.4% in Midland — 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 85/100 on livability (#28 in MI, #578 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: commute F.
• Midland Public Schools (urban): math 49% / reading 64% proficiency, ranked #62 of 540 in MI (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 110 active listings in the ZIP; solid renter incomes; 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 $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y ago; this cycle's ask has dropped $20k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $150k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $187,799 (6.1% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1935 — 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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.
6. 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.
7. 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: 0.94% ✗
• Cap rate: 7.02%
• Cash-on-cash: 2.58%
• DSCR: 1.11
• GRM: 8.9

CMA / ARV

• ARV (median comp): $273,426
• List price: $200,000
• Delta: -26.85%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3100 Valorie Ln	0.31mi	5/2.5 (+1)	1,344 (-3%)	2mo	$289,000	$215	72
3019 Gibson St	0.46mi	3/2.5 (-1)	1,358 (-2%)	14mo	$245,000	$180	57
3204 Gibson St	0.49mi	3/2.0 (-1)	1,471 (+6%)	7mo	$240,000	$163	56
3606 W Wackerly St	0.39mi	3/2.0 (-1)	1,536 (+11%)	12mo	$247,000	$161	49
5000 Perrine Rd	0.67mi	3/1.0 (-1)	1,256 (-9%)	1mo	$155,000	$123	44
3819 Haskin Dr	0.56mi	3/1.5 (-1)	1,576 (+14%)	8mo	$244,000	$155	37

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: -12.2%
• Equity multiple: 0.56×
• Total profit: $-24,724
• Equity at exit: $29,821

10-year hold

• IRR: -3.1%
• Equity multiple: 0.79×
• Total profit: $-11,589
• Equity at exit: $17,292

Cash invested: $56,000 (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 48640

• Home prices YoY: -21.7%
• Active inventory: 110
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,878 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$231 /mo · $2,773/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $120

Break-even live

Break-even rent $1,726

Max offer price $200,000

Occupancy floor 89%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-05-11
   status Pending 838-char remark

   Show marketing remark (838 chars)

   STAND OUT ON STURGEON AVENUE! Welcome to this four bedroom, two bathroom ranch right on Sturgeon Creek. With nearly half an acre lot and 1,384 square feet of living space, this highly desirable home is looking for new owners. The partially finished basement adds additional living and storage space to the house. Three bedrooms and both bathrooms are found on the main floor, while the fourth bedroom and family room are located in the basement making the most of the square footage in your space. Outside, the fully fenced in yard highlights deck perfect for entertaining and a sandbox for the kids! You'll have plenty of space to add your own pool or playset as seen in the pictures. The privacy and peacefulness of the back yard is sure to make you feel at home. All this and more is waiting for you - call today for your private tour!

2. 2026-05-11
   status Pending 838-char remark

   Show marketing remark (838 chars)

   STAND OUT ON STURGEON AVENUE! Welcome to this four bedroom, two bathroom ranch right on Sturgeon Creek. With nearly half an acre lot and 1,384 square feet of living space, this highly desirable home is looking for new owners. The partially finished basement adds additional living and storage space to the house. Three bedrooms and both bathrooms are found on the main floor, while the fourth bedroom and family room are located in the basement making the most of the square footage in your space. Outside, the fully fenced in yard highlights deck perfect for entertaining and a sandbox for the kids! You'll have plenty of space to add your own pool or playset as seen in the pictures. The privacy and peacefulness of the back yard is sure to make you feel at home. All this and more is waiting for you - call today for your private tour!

3. 2026-05-05
   price $200,000 838-char remark

   Show marketing remark (838 chars)

   STAND OUT ON STURGEON AVENUE! Welcome to this four bedroom, two bathroom ranch right on Sturgeon Creek. With nearly half an acre lot and 1,384 square feet of living space, this highly desirable home is looking for new owners. The partially finished basement adds additional living and storage space to the house. Three bedrooms and both bathrooms are found on the main floor, while the fourth bedroom and family room are located in the basement making the most of the square footage in your space. Outside, the fully fenced in yard highlights deck perfect for entertaining and a sandbox for the kids! You'll have plenty of space to add your own pool or playset as seen in the pictures. The privacy and peacefulness of the back yard is sure to make you feel at home. All this and more is waiting for you - call today for your private tour!

4. 2026-05-05
   price $200,000 838-char remark

   Show marketing remark (838 chars)

   STAND OUT ON STURGEON AVENUE! Welcome to this four bedroom, two bathroom ranch right on Sturgeon Creek. With nearly half an acre lot and 1,384 square feet of living space, this highly desirable home is looking for new owners. The partially finished basement adds additional living and storage space to the house. Three bedrooms and both bathrooms are found on the main floor, while the fourth bedroom and family room are located in the basement making the most of the square footage in your space. Outside, the fully fenced in yard highlights deck perfect for entertaining and a sandbox for the kids! You'll have plenty of space to add your own pool or playset as seen in the pictures. The privacy and peacefulness of the back yard is sure to make you feel at home. All this and more is waiting for you - call today for your private tour!

5. 2026-04-17
   status Active 838-char remark

   Show marketing remark (838 chars)

   STAND OUT ON STURGEON AVENUE! Welcome to this four bedroom, two bathroom ranch right on Sturgeon Creek. With nearly half an acre lot and 1,384 square feet of living space, this highly desirable home is looking for new owners. The partially finished basement adds additional living and storage space to the house. Three bedrooms and both bathrooms are found on the main floor, while the fourth bedroom and family room are located in the basement making the most of the square footage in your space. Outside, the fully fenced in yard highlights deck perfect for entertaining and a sandbox for the kids! You'll have plenty of space to add your own pool or playset as seen in the pictures. The privacy and peacefulness of the back yard is sure to make you feel at home. All this and more is waiting for you - call today for your private tour!

6. 2026-04-17
   status Active 838-char remark

   Show marketing remark (838 chars)

   STAND OUT ON STURGEON AVENUE! Welcome to this four bedroom, two bathroom ranch right on Sturgeon Creek. With nearly half an acre lot and 1,384 square feet of living space, this highly desirable home is looking for new owners. The partially finished basement adds additional living and storage space to the house. Three bedrooms and both bathrooms are found on the main floor, while the fourth bedroom and family room are located in the basement making the most of the square footage in your space. Outside, the fully fenced in yard highlights deck perfect for entertaining and a sandbox for the kids! You'll have plenty of space to add your own pool or playset as seen in the pictures. The privacy and peacefulness of the back yard is sure to make you feel at home. All this and more is waiting for you - call today for your private tour!

7. 2026-04-13
   status Pending 838-char remark

   Show marketing remark (838 chars)

   STAND OUT ON STURGEON AVENUE! Welcome to this four bedroom, two bathroom ranch right on Sturgeon Creek. With nearly half an acre lot and 1,384 square feet of living space, this highly desirable home is looking for new owners. The partially finished basement adds additional living and storage space to the house. Three bedrooms and both bathrooms are found on the main floor, while the fourth bedroom and family room are located in the basement making the most of the square footage in your space. Outside, the fully fenced in yard highlights deck perfect for entertaining and a sandbox for the kids! You'll have plenty of space to add your own pool or playset as seen in the pictures. The privacy and peacefulness of the back yard is sure to make you feel at home. All this and more is waiting for you - call today for your private tour!

8. 2026-04-13
   status Pending 838-char remark

   Show marketing remark (838 chars)

   STAND OUT ON STURGEON AVENUE! Welcome to this four bedroom, two bathroom ranch right on Sturgeon Creek. With nearly half an acre lot and 1,384 square feet of living space, this highly desirable home is looking for new owners. The partially finished basement adds additional living and storage space to the house. Three bedrooms and both bathrooms are found on the main floor, while the fourth bedroom and family room are located in the basement making the most of the square footage in your space. Outside, the fully fenced in yard highlights deck perfect for entertaining and a sandbox for the kids! You'll have plenty of space to add your own pool or playset as seen in the pictures. The privacy and peacefulness of the back yard is sure to make you feel at home. All this and more is waiting for you - call today for your private tour!

9. 2026-04-09
   price $210,000 838-char remark

   Show marketing remark (838 chars)

   STAND OUT ON STURGEON AVENUE! Welcome to this four bedroom, two bathroom ranch right on Sturgeon Creek. With nearly half an acre lot and 1,384 square feet of living space, this highly desirable home is looking for new owners. The partially finished basement adds additional living and storage space to the house. Three bedrooms and both bathrooms are found on the main floor, while the fourth bedroom and family room are located in the basement making the most of the square footage in your space. Outside, the fully fenced in yard highlights deck perfect for entertaining and a sandbox for the kids! You'll have plenty of space to add your own pool or playset as seen in the pictures. The privacy and peacefulness of the back yard is sure to make you feel at home. All this and more is waiting for you - call today for your private tour!

10. 2026-04-08
    price $210,000 838-char remark

    Show marketing remark (838 chars)

    STAND OUT ON STURGEON AVENUE! Welcome to this four bedroom, two bathroom ranch right on Sturgeon Creek. With nearly half an acre lot and 1,384 square feet of living space, this highly desirable home is looking for new owners. The partially finished basement adds additional living and storage space to the house. Three bedrooms and both bathrooms are found on the main floor, while the fourth bedroom and family room are located in the basement making the most of the square footage in your space. Outside, the fully fenced in yard highlights deck perfect for entertaining and a sandbox for the kids! You'll have plenty of space to add your own pool or playset as seen in the pictures. The privacy and peacefulness of the back yard is sure to make you feel at home. All this and more is waiting for you - call today for your private tour!

11. 2026-03-31
    listed $220,000 Active 838-char remark

    Show marketing remark (838 chars)

    STAND OUT ON STURGEON AVENUE! Welcome to this four bedroom, two bathroom ranch right on Sturgeon Creek. With nearly half an acre lot and 1,384 square feet of living space, this highly desirable home is looking for new owners. The partially finished basement adds additional living and storage space to the house. Three bedrooms and both bathrooms are found on the main floor, while the fourth bedroom and family room are located in the basement making the most of the square footage in your space. Outside, the fully fenced in yard highlights deck perfect for entertaining and a sandbox for the kids! You'll have plenty of space to add your own pool or playset as seen in the pictures. The privacy and peacefulness of the back yard is sure to make you feel at home. All this and more is waiting for you - call today for your private tour!

12. 2026-03-31
    listed $220,000 Active 838-char remark

    Show marketing remark (838 chars)

    STAND OUT ON STURGEON AVENUE! Welcome to this four bedroom, two bathroom ranch right on Sturgeon Creek. With nearly half an acre lot and 1,384 square feet of living space, this highly desirable home is looking for new owners. The partially finished basement adds additional living and storage space to the house. Three bedrooms and both bathrooms are found on the main floor, while the fourth bedroom and family room are located in the basement making the most of the square footage in your space. Outside, the fully fenced in yard highlights deck perfect for entertaining and a sandbox for the kids! You'll have plenty of space to add your own pool or playset as seen in the pictures. The privacy and peacefulness of the back yard is sure to make you feel at home. All this and more is waiting for you - call today for your private tour!

13. 2022-01-18
    soldstatus $150,000
14. 2022-01-14
    soldstatus $150,000 Sold
15. 2022-01-14
    soldstatus $150,000 Closed
16. 2021-12-13
    status Pending
17. 2021-12-13
    status Pending
18. 2021-12-11
    price $150,000
19. 2021-12-10
    price $150,000
20. 2021-11-23
    price $160,000
21. 2021-11-22
    price $160,000
22. 2021-11-09
    price $165,000
23. 2021-11-08
    price $165,000
24. 2021-10-15
    price $170,000
25. 2021-10-15
    price $170,000
26. 2021-10-06
    listed $180,000 Active
27. 2021-10-06
    listed $180,000 Active
28. 2019-08-30
    soldstatus $102,500
29. 2014-01-03
    soldstatus $83,700

ⓘ 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: $2,773 · $231/mo
• Projected year-2 tax: $2,926 · $244/mo
• Expected delta: +$154/yr (+$13/mo · 5.5%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°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: $22,536
• − Mortgage interest: −$11,203
• − Property taxes: −$2,773
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,803
• − Management: −$1,803
• − Depreciation: −$5,818
• Taxable loss: −$1,864
• Est. tax savings @ 24.0%: +$447
• After-tax cash flow: $1,892/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: Midland Public Schools
• NCES district ID: 2623820
• Math proficiency: 49% ▼ -6.00%
• Reading proficiency: 64% ▼ -3.00%
• Median HH income: $55,844
• Composite: 48.67/100
• National rank: #2105
• State rank: #62 of 540 in MI

Livability — Midland

• Score: 85/100
• State rank: #28
• US rank: #578

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Midland, MI
• County: Midland County · 66,531 people
• City population: 66,531
• Metro: Midland, MI
• Population (ZIP): 32,492
• Household income: $80,574
• Rent vs Own: 25.0% rent · 75.0% own
• Severe rent burden: 939.0

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 (90%)
• Race & ethnicity: White 90% Two or more races 5% Hispanic / Latino 4% Asian 1% Black 1%
• Common ancestry: Romanian 7% Lithuanian 4% Italian 3%
• Foreign-born: 3% · Canada, South Korea, China
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 1% German/W. Germanic 1%

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: ▼ -63.88%
• Current HPI: 230.5702
• Rent YoY: —
• Metro: Midland, 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

+138.9% since first listed

29 events — show timeline

• 2026-05-11 Pending — REALCOMP
• 2026-05-11 Pending — MiRealSource-MiMLS
• 2026-05-05 Price Changed $200,000 MiRealSource-MiMLS
• 2026-05-05 Price Changed $200,000 REALCOMP
• 2026-04-17 Relisted — REALCOMP
• 2026-04-17 Relisted — MiRealSource-MiMLS
• 2026-04-13 Pending — REALCOMP
• 2026-04-13 Pending — MiRealSource-MiMLS
• 2026-04-09 Price Changed $210,000 MiRealSource-MiMLS
• 2026-04-08 Price Changed $210,000 REALCOMP
• 2026-03-31 Listed $220,000 MiRealSource-MiMLS
• 2026-03-31 Listed $220,000 REALCOMP
• 2022-01-18 Sold (Public Records) $150,000 Public Records
• 2022-01-14 Sold (MLS) $150,000 MiRealSource-MiMLS
• 2022-01-14 Sold (MLS) $150,000 REALCOMP
• 2021-12-13 Pending — MiRealSource-MiMLS
• 2021-12-13 Pending — REALCOMP
• 2021-12-11 Price Changed $150,000 MiRealSource-MiMLS
• 2021-12-10 Price Changed $150,000 REALCOMP
• 2021-11-23 Price Changed $160,000 MiRealSource-MiMLS
• 2021-11-22 Price Changed $160,000 REALCOMP
• 2021-11-09 Price Changed $165,000 MiRealSource-MiMLS
• 2021-11-08 Price Changed $165,000 REALCOMP
• 2021-10-15 Price Changed $170,000 MiRealSource-MiMLS
• 2021-10-15 Price Changed $170,000 REALCOMP
• 2021-10-06 Listed $180,000 MiRealSource-MiMLS
• 2021-10-06 Listed $180,000 REALCOMP
• 2019-08-30 Sold (Public Records) $102,500 Public Records
• 2014-01-03 Sold (Public Records) $83,700 Public Records

Property tax history

+5.1%/yr

Latest (2024): $2,773 · +4.9% YoY. Source: county tax records.