507 N Nine Mile Rd · Sanford, MI 48657

$39,900

2 bd · 1.0 ba · 864 sqft · SingleFamily · 14 Days on market

Built 1850 1.00 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
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2-bedroom, 1-bath one-story home situated on a large 1-acre corner lot in a great location near Sanford Lake. Features include hardwood floors, first-floor laundry, and a spacious lot with plenty of potential. Located directly across from the township building. Main structure has metal roof. Great opportunity for investors, renovators, or buyers looking for a project in a desirable area. Property is being sold as is. Agent owned.

Key facts

• Metal roof
• Large corner lot
• Hardwood floors

Tags

• HARDWOOD FLOORS
• FIRST-FLOOR LAUNDRY
• LARGE CORNER LOT
• METAL ROOF

Property features AI

Finance

• Other: Located near W Olson Rd and W Hines Rd
• HOA & community: Homeowners association present

Exterior

• Utilities: Septic tank sewer; Other water source
• Home design: Single-family residence; One-story home
• Construction: Wood siding; 864 square feet above-grade finished area
• Exterior features: Lot measures approximately 208 x 208; Approximately 1 acre lot

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating; No cooling system
• Interior features: Three total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $394 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($910 rent vs $40k).
• Cap rate 18.2% vs local median 2.6% in Sanford — 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 70/100 on livability (#330 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: health & safety C-, schools D, amenities F.
• Bullock Creek School District (rural): math 37% / reading 55% proficiency, ranked #132 of 540 in MI (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 33 active listings in the ZIP; 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 $276 of loan paydown is wiped out by about $1k 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 $11k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts; this cycle's ask has dropped $10k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $18k; list at $40k implies a 128% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1850 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $39,900

Questions for the listing agent

1. Built in 1850 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 2.28% ✓
• Cap rate: 18.15%
• Cash-on-cash: 42.36%
• DSCR: 2.88
• GRM: 3.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 39.1%
• Equity multiple: 2.67×
• Total profit: $18,695
• Equity at exit: $5,949

10-year hold

• IRR: 45.6%
• Equity multiple: 5.37×
• Total profit: $48,799
• Equity at exit: $3,450

Cash invested: $11,172 (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 48657

• Active inventory: 33
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $910 medium
• Mortgage (P&I): −$209
• Tax from tax record: −$99 /mo · $1,188/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$191
• Net cashflow: $394

Break-even live

Break-even rent $411

Max offer price $39,900

Occupancy floor 52%

Sensitivity live

Price	-10% $417	-5% $406	+0% $394	+5% $383	+10% $372
Rent	-10% $322	-5% $358	+0% $394	+5% $430	+10% $466
Rate	-1.0pp $414	-0.5pp $404	base $394	+0.5pp $384	+1.0pp $373

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-16
   status $39,900 Pending 14 DOM
2. 2026-06-15
   days on market $39,900 Active 14 DOM
3. 2026-06-14
   days on market $39,900 Active 12 DOM
4. 2026-06-12
   pricedays on market $39,900 Active 11 DOM
5. 2026-06-09
   days on market $44,900 Active 8 DOM
6. 2026-06-08
   days on market $44,900 Active 7 DOM
7. 2026-06-07
   remarks 458-char remark
8. 2026-06-07
   pricedays on market $44,900 Active 6 DOM
9. 2026-06-05
   days on market $49,900 Active 3 DOM
10. 2026-06-03
    days on market $49,900 Active 2 DOM
11. 2026-06-02
    remarks 433-char remark
12. 2026-06-02
    listed $49,900 Active 1 DOM

ⓘ 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: $1,188 · $99/mo
• Projected year-2 tax: $1,188 · $99/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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°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: $10,925
• − Mortgage interest: −$2,235
• − Property taxes: −$1,188
• − Insurance: −$200
• − Repairs & maintenance: −$874
• − Management: −$874
• − Depreciation: −$1,161
• Taxable income: $4,394
• Est. tax owed @ 24.0%: −$1,054
• After-tax cash flow: $3,678/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: Bullock Creek School District
• NCES district ID: 2607320
• Math proficiency: 37% ▼ -12.00%
• Reading proficiency: 55% ▼ -5.00%
• Median HH income: $52,984
• Composite: 39.68/100
• National rank: #3907
• State rank: #132 of 540 in MI

Livability — Sanford

• Score: 70/100
• State rank: #330
• US rank: #8145

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,700

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 5% Hispanic / Latino 1%
• Common ancestry: Romanian 7% Lithuanian 5% Slovak 2%
• Foreign-born: 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: ▼ -115.99%
• Current HPI: 206.5704
• 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

+185.1% since first listed

3 events — show timeline

• 2026-06-01 Listed $49,900 REALCOMP
• 2026-06-01 Listed $49,900 MiRealSource-MiMLS
• 1985-10-01 Sold (Public Records) $17,500 Public Records

Property tax history

+0.9%/yr

Latest (2024): $1,188 · -1.4% YoY. Source: county tax records.