214 N Grover Ave · Alma, MI 48801

$94,900

2 bd · 1.0 ba · 936 sqft · SingleFamily · 161 Days on market

Built 1958 8,276 sqft lot $101/sqft · 28% below area Est $133k · 28% 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 +15.2/30.0
• ARV discount +15.0/15.0
• DSCR +4.7/10.0
• 1% rule +4.2/10.0
• Livability +3.5/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 2-bedroom corner-lot home in the City of Alma, is ready for its next chapter. Step inside to an open-concept living, kitchen, and dining area that makes everyday living easy. You’ll also find a convenient main-floor laundry room, a full bathroom, and a 1-car attached garage for added storage and winter convenience. Outside, the home sits on a nice corner lot, providing extra yard space and curb appeal in an established neighborhood. While being sold as-is, the property offers a great opportunity for owner-occupants or investors to add value with some personal touches. Schedule your showing today.

Key facts

• 8,276 sq ft lot
• Garage
• Built 1958

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $33 ($399/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 $87k (8.1% below list).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.7% vs local median 4.2% in Alma — 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 69/100 on livability (#345 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, amenities F, commute F.
• Alma Public Schools (town): math 28% / reading 44% proficiency, ranked #288 of 540 in MI (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 89 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 47 units permitted in Gratiot County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $656 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Gratiot County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 161 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 3y ago; this cycle's ask has dropped $30k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $83,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 161 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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.
7. 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.
8. 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: 0.92% ✗
• Cap rate: 6.71%
• Cash-on-cash: 1.50%
• DSCR: 1.07
• GRM: 9.1

CMA / ARV

• ARV (median comp): $132,715
• List price: $94,900
• Delta: -28.49%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
112 Windsor St	0.22mi	3/1.0 (+1)	950 (+2%)	5mo	$60,000	$63	78
111 Wheeler St	0.14mi	2/1.0	832 (-11%)	8mo	$131,000	$157	68
535 Hayes Ave	0.35mi	2/2.0	850 (-9%)	6mo	$108,000	$127	60
419 Grafton Ave	0.73mi	2/1.0	950 (+2%)	7mo	$138,500	$146	58
800 Ely St	0.29mi	3/1.5 (+1)	1,070 (+14%)	0mo	$133,800	$125	55
256 Rockingham Ave	0.71mi	2/1.0	880 (-6%)	7mo	$153,000	$174	51
724 Bridge Ave	0.50mi	3/1.0 (+1)	857 (-8%)	8mo	$70,000	$82	51
109 Allen Ave	0.70mi	2/1.0	864 (-8%)	6mo	$121,000	$140	50
726 Pennsylvania Ave Lot : 58	0.61mi	2/1.0	1,050 (+12%)	4mo	$132,000	$126	48
726 Pennsylvania Ave	0.61mi	2/1.0	1,050 (+12%)	4mo	$132,000	$126	48
704 Republic Ave	0.50mi	3/1.5 (+1)	1,044 (+12%)	8mo	$155,000	$148	44
804 Hannah Ave	0.57mi	3/1.0 (+1)	1,060 (+13%)	4mo	$124,000	$117	43

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: -13.9%
• Equity multiple: 0.50×
• Total profit: $-13,248
• Equity at exit: $14,150

10-year hold

• IRR: -5.0%
• Equity multiple: 0.67×
• Total profit: $-8,757
• Equity at exit: $8,205

Cash invested: $26,572 (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 48801

• Home prices YoY: -32.0%
• Active inventory: 89
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $872 medium
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,424/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$183
• Net cashflow: $33

Break-even live

Break-even rent $830

Max offer price $94,900

Occupancy floor 91%

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
240 Windsor St Alma, MI	1.0–2.0	1.0	675	$875	$1.30	43d	1	0.34mi
213 W Downie St Unit B Alma, MI	2.0	1.0	580	$800	$1.38	43d	1	0.93mi
307 W Elizabeth St Alma, MI	2.0	1.0	650	$850	$1.31	43d	1	1.12mi
307 W Elizabeth St Unit 307 Alma, MI	2.0	1.0	750	$950	$1.27	43d	1	1.12mi

Listing history 48 events

1. 2026-06-18
   days on market $94,900 Active 161 DOM
2. 2026-06-17
   days on market $94,900 Active 160 DOM
3. 2026-06-16
   days on market $94,900 Active 159 DOM
4. 2026-06-15
   days on market $94,900 Active 158 DOM
5. 2026-06-13
   days on market $94,900 Active 156 DOM
6. 2026-06-12
   pricedays on market $94,900 Active 155 DOM
7. 2026-06-09
   days on market $102,500 Active 152 DOM
8. 2026-06-08
   days on market $102,500 Active 151 DOM
9. 2026-06-07
   days on market $102,500 Active 150 DOM
10. 2026-06-07
    days on market $102,500 Active 149 DOM
11. 2026-06-04
    days on market $102,500 Active 146 DOM
12. 2026-06-02
    days on market $102,500 Active 145 DOM
13. 2026-06-01
    days on market $102,500 Active 144 DOM
14. 2026-05-31
    days on market $102,500 Active 143 DOM
15. 2026-05-31
    days on market $102,500 Active 142 DOM
16. 2026-05-09
    price $102,500 631-char remark

    Show marketing remark (611 chars)

    Charming 2-bedroom corner-lot home in the City of Alma, is ready for its next chapter. Step inside to an open-concept living, kitchen, and dining area that makes everyday living easy. Youll also find a convenient main-floor laundry room, a full bathroom, and a 1-car attached garage for added storage and winter convenience. Outside, the home sits on a nice corner lot, providing extra yard space and curb appeal in an established neighborhood. While being sold as-is, the property offers a great opportunity for owner-occupants or investors to add value with some personal touches. Schedule your showing today.

17. 2026-05-09
    price $102,500 611-char remark

    Show marketing remark (611 chars)

    Charming 2-bedroom corner-lot home in the City of Alma, is ready for its next chapter. Step inside to an open-concept living, kitchen, and dining area that makes everyday living easy. Youll also find a convenient main-floor laundry room, a full bathroom, and a 1-car attached garage for added storage and winter convenience. Outside, the home sits on a nice corner lot, providing extra yard space and curb appeal in an established neighborhood. While being sold as-is, the property offers a great opportunity for owner-occupants or investors to add value with some personal touches. Schedule your showing today.

18. 2026-04-12
    price $109,000 631-char remark

    Show marketing remark (611 chars)

    Charming 2-bedroom corner-lot home in the City of Alma, is ready for its next chapter. Step inside to an open-concept living, kitchen, and dining area that makes everyday living easy. Youll also find a convenient main-floor laundry room, a full bathroom, and a 1-car attached garage for added storage and winter convenience. Outside, the home sits on a nice corner lot, providing extra yard space and curb appeal in an established neighborhood. While being sold as-is, the property offers a great opportunity for owner-occupants or investors to add value with some personal touches. Schedule your showing today.

19. 2026-04-12
    price $109,000 611-char remark

    Show marketing remark (611 chars)

    Charming 2-bedroom corner-lot home in the City of Alma, is ready for its next chapter. Step inside to an open-concept living, kitchen, and dining area that makes everyday living easy. Youll also find a convenient main-floor laundry room, a full bathroom, and a 1-car attached garage for added storage and winter convenience. Outside, the home sits on a nice corner lot, providing extra yard space and curb appeal in an established neighborhood. While being sold as-is, the property offers a great opportunity for owner-occupants or investors to add value with some personal touches. Schedule your showing today.

20. 2026-03-11
    price $114,900 631-char remark

    Show marketing remark (611 chars)

    Charming 2-bedroom corner-lot home in the City of Alma, is ready for its next chapter. Step inside to an open-concept living, kitchen, and dining area that makes everyday living easy. Youll also find a convenient main-floor laundry room, a full bathroom, and a 1-car attached garage for added storage and winter convenience. Outside, the home sits on a nice corner lot, providing extra yard space and curb appeal in an established neighborhood. While being sold as-is, the property offers a great opportunity for owner-occupants or investors to add value with some personal touches. Schedule your showing today.

21. 2026-03-11
    price $114,900 611-char remark

    Show marketing remark (611 chars)

    Charming 2-bedroom corner-lot home in the City of Alma, is ready for its next chapter. Step inside to an open-concept living, kitchen, and dining area that makes everyday living easy. Youll also find a convenient main-floor laundry room, a full bathroom, and a 1-car attached garage for added storage and winter convenience. Outside, the home sits on a nice corner lot, providing extra yard space and curb appeal in an established neighborhood. While being sold as-is, the property offers a great opportunity for owner-occupants or investors to add value with some personal touches. Schedule your showing today.

22. 2026-02-10
    price $119,900 631-char remark

    Show marketing remark (611 chars)

    Charming 2-bedroom corner-lot home in the City of Alma, is ready for its next chapter. Step inside to an open-concept living, kitchen, and dining area that makes everyday living easy. Youll also find a convenient main-floor laundry room, a full bathroom, and a 1-car attached garage for added storage and winter convenience. Outside, the home sits on a nice corner lot, providing extra yard space and curb appeal in an established neighborhood. While being sold as-is, the property offers a great opportunity for owner-occupants or investors to add value with some personal touches. Schedule your showing today.

23. 2026-02-10
    price $119,900 611-char remark

    Show marketing remark (611 chars)

    Charming 2-bedroom corner-lot home in the City of Alma, is ready for its next chapter. Step inside to an open-concept living, kitchen, and dining area that makes everyday living easy. Youll also find a convenient main-floor laundry room, a full bathroom, and a 1-car attached garage for added storage and winter convenience. Outside, the home sits on a nice corner lot, providing extra yard space and curb appeal in an established neighborhood. While being sold as-is, the property offers a great opportunity for owner-occupants or investors to add value with some personal touches. Schedule your showing today.

24. 2026-01-08
    listed $124,900 Active 631-char remark

    Show marketing remark (611 chars)

    Charming 2-bedroom corner-lot home in the City of Alma, is ready for its next chapter. Step inside to an open-concept living, kitchen, and dining area that makes everyday living easy. Youll also find a convenient main-floor laundry room, a full bathroom, and a 1-car attached garage for added storage and winter convenience. Outside, the home sits on a nice corner lot, providing extra yard space and curb appeal in an established neighborhood. While being sold as-is, the property offers a great opportunity for owner-occupants or investors to add value with some personal touches. Schedule your showing today.

25. 2026-01-08
    listed $124,900 Active 611-char remark

    Show marketing remark (611 chars)

    Charming 2-bedroom corner-lot home in the City of Alma, is ready for its next chapter. Step inside to an open-concept living, kitchen, and dining area that makes everyday living easy. Youll also find a convenient main-floor laundry room, a full bathroom, and a 1-car attached garage for added storage and winter convenience. Outside, the home sits on a nice corner lot, providing extra yard space and curb appeal in an established neighborhood. While being sold as-is, the property offers a great opportunity for owner-occupants or investors to add value with some personal touches. Schedule your showing today.

26. 2025-06-07
    historical
27. 2025-06-07
    historical
28. 2025-05-21
    status Active
29. 2025-05-21
    historical
30. 2025-05-02
    price $126,000
31. 2025-05-01
    price $126,000
32. 2025-04-22
    status Active
33. 2025-04-22
    historical
34. 2025-04-10
    status Active
35. 2025-04-10
    status Back on Market
36. 2025-04-08
    historical
37. 2025-04-08
    historical
38. 2025-03-15
    price $127,000
39. 2025-03-15
    price $127,000
40. 2025-02-07
    listed $129,000 Active
41. 2025-02-07
    listed $129,000 Active
42. 2023-05-18
    soldstatus $115,000 Sold
43. 2023-05-18
    soldstatus $115,000 Closed
44. 2023-05-18
    soldstatus $115,000
45. 2023-04-09
    status Pending
46. 2023-04-09
    status Pending
47. 2023-04-05
    listed $99,900 Active
48. 2023-04-05
    listed $99,900 Active

ⓘ 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 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: $10,467
• − Mortgage interest: −$5,316
• − Property taxes: −$1,424
• − Insurance: −$474
• − Repairs & maintenance: −$837
• − Management: −$837
• − Depreciation: −$2,761
• Taxable loss: −$1,182
• Est. tax savings @ 24.0%: +$284
• After-tax cash flow: $683/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: Alma Public Schools
• NCES district ID: 2602640
• Math proficiency: 28% ▼ -9.00%
• Reading proficiency: 44% ▼ -3.00%
• Median HH income: $36,651
• Composite: 29.84/100
• National rank: #6415
• State rank: #288 of 540 in MI

Livability — Alma

• Score: 69/100
• State rank: #345
• US rank: #8809

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alma, MI
• City population: 13,433
• Population (ZIP): 13,433

Population outlook (Gratiot County) Hauer SSP2

• Today (2025): 39,991 people
• By 2030: 38,944 · -2.6%
• By 2040: 36,694 · -8.2%
• By 2050: 34,314 · -14.2%
• By 2075: 27,693 · -30.8%
• By 2100: 20,809 · -48.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 10% Two or more races 4% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 5% Slovak 3% Iranian 2%
• Foreign-born: 2% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 4% French/Haitian/Cajun 1%

Political lean MEDSL · Gratiot

• 2024 margin: Solid R (+31.3) · D 33.7% · R 65.0% · Other 1.4%
• 2008→2024 swing: -35.7pp toward R · 2008: 4.4pp · 2024: -31.3pp
• All cycles: 2024: R+31.3 2020: R+28.3 2016: R+25.6 2012: R+3.9 2008: D+4.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -99.16%
• Current HPI: 210.3208
• 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

+2.6% since first listed

33 events — show timeline

• 2026-05-09 Price Changed $102,500 MiRealSource-MiMLS
• 2026-05-09 Price Changed $102,500 REALCOMP
• 2026-04-12 Price Changed $109,000 MiRealSource-MiMLS
• 2026-04-12 Price Changed $109,000 REALCOMP
• 2026-03-11 Price Changed $114,900 MiRealSource-MiMLS
• 2026-03-11 Price Changed $114,900 REALCOMP
• 2026-02-10 Price Changed $119,900 MiRealSource-MiMLS
• 2026-02-10 Price Changed $119,900 REALCOMP
• 2026-01-08 Listed $124,900 REALCOMP
• 2026-01-08 Listed $124,900 MiRealSource-MiMLS
• 2025-06-07 Listing Removed — MiRealSource-MiMLS
• 2025-06-07 Listing Removed — REALCOMP
• 2025-05-21 Relisted — REALCOMP
• 2025-05-21 Listing Removed — REALCOMP
• 2025-05-02 Price Changed $126,000 MiRealSource-MiMLS
• 2025-05-01 Price Changed $126,000 REALCOMP
• 2025-04-22 Relisted — REALCOMP
• 2025-04-22 Listing Removed — REALCOMP
• 2025-04-10 Relisted — REALCOMP
• 2025-04-10 Relisted — MiRealSource-MiMLS
• 2025-04-08 Listing Removed — MiRealSource-MiMLS
• 2025-04-08 Listing Removed — REALCOMP
• 2025-03-15 Price Changed $127,000 MiRealSource-MiMLS
• 2025-03-15 Price Changed $127,000 REALCOMP
• 2025-02-07 Listed $129,000 MiRealSource-MiMLS
• 2025-02-07 Listed $129,000 REALCOMP
• 2023-05-18 Sold (Public Records) $115,000 Public Records
• 2023-05-18 Sold (MLS) $115,000 MiRealSource-MiMLS
• 2023-05-18 Sold (MLS) $115,000 REALCOMP
• 2023-04-09 Pending — REALCOMP
• 2023-04-09 Pending — MiRealSource-MiMLS
• 2023-04-05 Listed $99,900 MiRealSource-MiMLS
• 2023-04-05 Listed $99,900 REALCOMP