1402 Wyllys St · Midland, MI 48642

$150,000

2 bd · 1.0 ba · 924 sqft · SingleFamily public records · 11 Days on market

Built 1940 6,098 sqft lot Est $165k · 9% under

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Why this score? — see what drove the D+ 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 +13.2/30.0
• ARV discount +11.7/15.0
• Schools +4.9/10.0
• Livability +4.2/5.0
• DSCR +4.0/10.0
• 1% rule +3.9/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

WELCOME HOME ON WYLLYS! Charming and efficient, this three bedroom, one bathroom ranch in the City of Midland offers comfortable single-level living with plenty of potential. With 924 square feet of living space, this home features a functional layout that’s perfect for everyday living or as a smart investment opportunity. The full unfinished basement provides ample storage or the opportunity to finish and expand your living space to suit your needs. Situated on a 50x125 lot, there’s room to enjoy outdoor activities, gardening, or entertaining. A 1 car detached garage adds convenience and extra storage. Whether you’re a first-time buyer, downsizing, or looking to add to your portfolio, this home is full of possibilities in a great location! Call today for your private tour.

Key facts

• 50x125 lot
• 6,098 sq ft lot
• Garage

Tags

• FULL UNFINISHED BASEMENT
• 50X125 LOT
• 1 CAR DETACHED GARAGE

Property features AI

Finance

• Other: Located in the Airport subdivision; cross streets Swede Avenue & E Ashman Street
• HOA & community: Homeowners association present

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level
• Construction: Aluminum siding
• Exterior features: City lot; Paved, publicly maintained road; Lot dimensions approximately 50 x 125

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: 6 total rooms; Finished above-grade living area (924); Basement present

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $-3 ($-30/yr) — negative.
• To cash-flow at today's rent, offer at most $150k (0.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $133k (11.4% below list).
• Recommended offer: $133k (11.4% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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: Rents flat; 95 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $4k 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

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 3y 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 $63k; list at $150k implies a 138% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $132,930 (11.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1940 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.89% ✗
• Cap rate: 6.27%
• Cash-on-cash: -0.07%
• DSCR: 1.00
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $165,396
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1613 Wyllys St	0.15mi	2/1.0	954 (+3%)	22mo	$105,000	$110	69
3614 Washington St	0.49mi	3/1.0 (+1)	978 (+6%)	1mo	$175,000	$179	62
1309 E Saint Andrews Dr	0.35mi	3/1.0 (+1)	864 (-6%)	11mo	$129,000	$149	59
3719 Robinhood Ter	0.44mi	2/1.5	869 (-6%)	11mo	$220,000	$253	59
1109 Corrinne St	0.33mi	3/1.0 (+1)	1,008 (+9%)	11mo	$169,900	$169	55
3205 Washington St	0.39mi	3/1.0 (+1)	1,016 (+10%)	8mo	$143,000	$141	54
3218 Fairlane St	0.62mi	3/1.0 (+1)	865 (-6%)	2mo	$178,000	$206	54
1104 Baldwin St	0.49mi	2/1.0	816 (-12%)	5mo	$165,000	$202	53
1407 E Sugnet St	0.36mi	3/1.0 (+1)	864 (-6%)	21mo	$150,000	$174	50
1105 E St. Andrews St	0.39mi	3/1.0 (+1)	816 (-12%)	16mo	$138,500	$170	44
1106 E Saint Andrews Rd	0.36mi	3/1.0 (+1)	816 (-12%)	19mo	$171,000	$210	43
1609 Swede Ave	0.72mi	3/1.0 (+1)	822 (-11%)	13mo	$148,440	$181	33

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 · 0.6% rent growth · sell at horizon

5-year hold

• IRR: -19.2%
• Equity multiple: 0.34×
• Total profit: $-27,573
• Equity at exit: $22,365

10-year hold

• IRR: -17.8%
• Equity multiple: 0.13×
• Total profit: $-36,356
• Equity at exit: $12,969

Cash invested: $42,000 (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 48642

• Home prices YoY: -31.4%
• Rents YoY: 0.6%
• Active inventory: 95
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,329 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$204 /mo · $2,443/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $-3

Break-even live

Break-even rent $1,333

Max offer price $149,553

Occupancy floor 95%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2211 Eastlawn Dr Midland, MI	1.0–2.0	1.0	690	$880	$1.28	44d	1	0.67mi

Listing history 13 events

1. 2026-06-09
   status $150,000 Pending 11 DOM
2. 2026-06-08
   days on market $150,000 Active 11 DOM
3. 2026-06-07
   days on market $150,000 Active 10 DOM
4. 2026-06-02
   days on market $150,000 Active 5 DOM
5. 2026-06-01
   days on market $150,000 Active 4 DOM
6. 2026-05-31
   days on market $150,000 Active 3 DOM
7. 2026-05-30
   days on market $150,000 Active 2 DOM
8. 2026-05-28
   listed $150,000 Active 802-char remark

   Show marketing remark (802 chars)

   WELCOME HOME ON WYLLYS! Charming and efficient, this three bedroom, one bathroom ranch in the City of Midland offers comfortable single-level living with plenty of potential. With 924 square feet of living space, this home features a functional layout that’s perfect for everyday living or as a smart investment opportunity. The full unfinished basement provides ample storage or the opportunity to finish and expand your living space to suit your needs. Situated on a 50x125 lot, there’s room to enjoy outdoor activities, gardening, or entertaining. A 1 car detached garage adds convenience and extra storage. Whether you’re a first-time buyer, downsizing, or looking to add to your portfolio, this home is full of possibilities in a great location! Call today for your private tour.

9. 2026-05-28
   listed $150,000 Active

   Show marketing remark (802 chars)

   WELCOME HOME ON WYLLYS! Charming and efficient, this three bedroom, one bathroom ranch in the City of Midland offers comfortable single-level living with plenty of potential. With 924 square feet of living space, this home features a functional layout that’s perfect for everyday living or as a smart investment opportunity. The full unfinished basement provides ample storage or the opportunity to finish and expand your living space to suit your needs. Situated on a 50x125 lot, there’s room to enjoy outdoor activities, gardening, or entertaining. A 1 car detached garage adds convenience and extra storage. Whether you’re a first-time buyer, downsizing, or looking to add to your portfolio, this home is full of possibilities in a great location! Call today for your private tour.

10. 2023-11-09
    historical $1,150
11. 2023-11-07
    price $1,150
12. 2023-11-03
    listed $1,100
13. 2017-03-20
    soldstatus $62,900

ⓘ 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: $2,443 · $204/mo
• Projected year-2 tax: $2,443 · $204/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 ≥98°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: $15,952
• − Mortgage interest: −$8,402
• − Property taxes: −$2,443
• − Insurance: −$750
• − Repairs & maintenance: −$1,276
• − Management: −$1,276
• − Depreciation: −$4,364
• Taxable loss: −$2,559
• Est. tax savings @ 24.0%: +$614
• After-tax cash flow: $584/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): 34,039
• Household income: $77,847
• Rent vs Own: 25.3% rent · 74.7% own
• Severe rent burden: 935.0

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 4% Asian 4% Two or more races 3% Black 2%
• Common ancestry: Romanian 8% Lithuanian 5% Italian 3%
• Foreign-born: 5% · Canada, China, Vietnam
• Languages at home: 95% English-only · Other Indo-European 1% Spanish 1% Chinese 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: ▼ -87.89%
• Current HPI: 192.0812
• Rent YoY: ▲ 0.60%
• 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

+138.5% since first listed

6 events — show timeline

• 2026-05-28 Listed $150,000 REALCOMP
• 2026-05-28 Listed $150,000 MiRealSource-MiMLS
• 2023-11-09 Rental Removed $1,150 RENTEC
• 2023-11-07 Price Changed $1,150 RENTEC
• 2023-11-03 Listed for Rent $1,100 RENTEC
• 2017-03-20 Sold (Public Records) $62,900 Public Records

Property tax history

+7.9%/yr

Latest (2024): $2,443 · +5.1% YoY. Source: county tax records.