1112 Michigan Ave · Bay City, MI 48708

$114,900

4 bd · 1.0 ba · 1,952 sqft · SingleFamily public records · 106 Days on market

Built 1893 5,227 sqft lot $59/sqft · 28% below area Est $159k · 28% 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 +28.5/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• Livability +3.4/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Back on the market at no fault of the seller. Buyer financing fell through, creating a new opportunity. Spacious 4-bedroom home (could be a 5 bedroom) offering nearly 2,000 square feet of living space with plenty of potential. First floor laundry. The home features a flexible layout with a pass-through bonus room that could serve as an office, nursery, playroom, or additional living space. This classic home offers large rooms and the character often found in older properties. With a solid layout and generous space throughout, it provides a great opportunity for a buyer to update and customize the home to their own style while building equity. The detached garage is set up as a great hangout or man-cave space, perfect for hobbies, projects, or entertaining. The home also features a full basement that provides additional storage and utility space, along with an extra toilet for added convenience. With great space inside and out, this home offers a fantastic opportunity for the next owner to make it their own.

Key facts

• 5,227 sq ft lot
• Garage
• Built 1893

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $374 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $105k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 5.5% in Bay City — 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 68/100 on livability (#360 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, amenities D, crime F.
• Bay City School District (urban): math 27% / reading 40% proficiency, ranked #317 of 540 in MI (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 148 active listings in the ZIP; 39 units permitted in Bay County in 2024 (0 in 5+ unit buildings).
• This rent runs 35% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $794 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Bay County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $71k; list at $115k implies a 61% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1893 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $104,559 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1893 — 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. 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?
6. Crime grade is F 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?
7. 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.
8. 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.
9. 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: 1.27% ✓
• Cap rate: 10.20%
• Cash-on-cash: 13.97%
• DSCR: 1.62
• GRM: 6.6

CMA / ARV

• ARV (median comp): $159,010
• List price: $114,900
• Delta: -27.74%
• 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
2311 S Jefferson St	0.19mi	3/1.5 (-1)	2,110 (+8%)	9mo	$147,000	$70	63
2610 S Monroe St	0.44mi	3/2.0 (-1)	1,896 (-3%)	10mo	$240,000	$127	58
1400 Fremont Ave	0.17mi	3/2.5 (-1)	2,134 (+9%)	10mo	$80,000	$37	57
409 McCormick St	0.64mi	4/1.0	2,032 (+4%)	10mo	$92,962	$46	55
1707 Wilson St	0.56mi	4/2.0	2,104 (+8%)	5mo	$170,000	$81	53
1014 S Farragut St	0.63mi	4/2.0	1,862 (-5%)	8mo	$161,000	$86	52
1202 Taylor St	0.71mi	4/2.0	2,002 (+3%)	8mo	$68,000	$34	52
321 Stanton St	0.55mi	3/1.5 (-1)	1,756 (-10%)	3mo	$173,000	$99	48
2219 Broadway St	0.54mi	4/1.5	1,721 (-12%)	10mo	$146,000	$85	45
1200 Fitzhugh St	0.59mi	3/1.0 (-1)	1,716 (-12%)	5mo	$47,500	$28	43
905 S Monroe St	0.75mi	4/1.0	1,687 (-14%)	0mo	$146,500	$87	42
513 31st St	0.53mi	4/2.0	1,662 (-15%)	6mo	$95,000	$57	42

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: 4.2%
• Equity multiple: 1.16×
• Total profit: $5,240
• Equity at exit: $17,132

10-year hold

• IRR: 13.7%
• Equity multiple: 2.10×
• Total profit: $35,318
• Equity at exit: $9,934

Cash invested: $32,172 (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 48708

• Home prices YoY: -30.9%
• Active inventory: 148
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,458 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$127 /mo · $1,522/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $374

Break-even live

Break-even rent $984

Max offer price $114,900

Occupancy floor 69%

Sensitivity live

Price	-10% $439	-5% $407	+0% $374	+5% $342	+10% $309
Rent	-10% $259	-5% $317	+0% $374	+5% $432	+10% $490
Rate	-1.0pp $432	-0.5pp $404	base $374	+0.5pp $345	+1.0pp $314

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $114,900 Active 106 DOM
2. 2026-06-18
   days on market $114,900 Active 105 DOM
3. 2026-06-17
   days on market $114,900 Active 104 DOM
4. 2026-06-16
   days on market $114,900 Active 103 DOM
5. 2026-06-15
   days on market $114,900 Active 102 DOM
6. 2026-06-14
   days on market $114,900 Active 100 DOM
7. 2026-06-12
   days on market $114,900 Active 99 DOM
8. 2026-06-09
   days on market $114,900 Active 96 DOM
9. 2026-06-08
   days on market $114,900 Active 95 DOM
10. 2026-06-07
    days on market $114,900 Active 94 DOM
11. 2026-06-05
    days on market $114,900 Active 91 DOM
12. 2026-06-03
    days on market $114,900 Active 90 DOM
13. 2026-06-02
    days on market $114,900 Active 89 DOM
14. 2026-06-01
    days on market $114,900 Active 88 DOM
15. 2026-05-31
    days on market $114,900 Active 87 DOM
16. 2026-05-30
    days on market $114,900 Active 86 DOM
17. 2026-03-25
    price $114,900 1022-char remark

    Show marketing remark (1022 chars)

    Back on the market at no fault of the seller. Buyer financing fell through, creating a new opportunity. Spacious 4-bedroom home (could be a 5 bedroom) offering nearly 2,000 square feet of living space with plenty of potential. First floor laundry. The home features a flexible layout with a pass-through bonus room that could serve as an office, nursery, playroom, or additional living space. This classic home offers large rooms and the character often found in older properties. With a solid layout and generous space throughout, it provides a great opportunity for a buyer to update and customize the home to their own style while building equity. The detached garage is set up as a great hangout or man-cave space, perfect for hobbies, projects, or entertaining. The home also features a full basement that provides additional storage and utility space, along with an extra toilet for added convenience. With great space inside and out, this home offers a fantastic opportunity for the next owner to make it their own.

18. 2026-03-25
    status Back on Market 1022-char remark

    Show marketing remark (1022 chars)

    Back on the market at no fault of the seller. Buyer financing fell through, creating a new opportunity. Spacious 4-bedroom home (could be a 5 bedroom) offering nearly 2,000 square feet of living space with plenty of potential. First floor laundry. The home features a flexible layout with a pass-through bonus room that could serve as an office, nursery, playroom, or additional living space. This classic home offers large rooms and the character often found in older properties. With a solid layout and generous space throughout, it provides a great opportunity for a buyer to update and customize the home to their own style while building equity. The detached garage is set up as a great hangout or man-cave space, perfect for hobbies, projects, or entertaining. The home also features a full basement that provides additional storage and utility space, along with an extra toilet for added convenience. With great space inside and out, this home offers a fantastic opportunity for the next owner to make it their own.

19. 2026-03-20
    historical Accepting Backup Offers 1022-char remark

    Show marketing remark (1022 chars)

    Back on the market at no fault of the seller. Buyer financing fell through, creating a new opportunity. Spacious 4-bedroom home (could be a 5 bedroom) offering nearly 2,000 square feet of living space with plenty of potential. First floor laundry. The home features a flexible layout with a pass-through bonus room that could serve as an office, nursery, playroom, or additional living space. This classic home offers large rooms and the character often found in older properties. With a solid layout and generous space throughout, it provides a great opportunity for a buyer to update and customize the home to their own style while building equity. The detached garage is set up as a great hangout or man-cave space, perfect for hobbies, projects, or entertaining. The home also features a full basement that provides additional storage and utility space, along with an extra toilet for added convenience. With great space inside and out, this home offers a fantastic opportunity for the next owner to make it their own.

20. 2026-03-06
    listed $115,000 Active 1022-char remark

    Show marketing remark (1022 chars)

    Back on the market at no fault of the seller. Buyer financing fell through, creating a new opportunity. Spacious 4-bedroom home (could be a 5 bedroom) offering nearly 2,000 square feet of living space with plenty of potential. First floor laundry. The home features a flexible layout with a pass-through bonus room that could serve as an office, nursery, playroom, or additional living space. This classic home offers large rooms and the character often found in older properties. With a solid layout and generous space throughout, it provides a great opportunity for a buyer to update and customize the home to their own style while building equity. The detached garage is set up as a great hangout or man-cave space, perfect for hobbies, projects, or entertaining. The home also features a full basement that provides additional storage and utility space, along with an extra toilet for added convenience. With great space inside and out, this home offers a fantastic opportunity for the next owner to make it their own.

21. 2026-03-05
    historical $115,000 1022-char remark

    Show marketing remark (1022 chars)

    Back on the market at no fault of the seller. Buyer financing fell through, creating a new opportunity. Spacious 4-bedroom home (could be a 5 bedroom) offering nearly 2,000 square feet of living space with plenty of potential. First floor laundry. The home features a flexible layout with a pass-through bonus room that could serve as an office, nursery, playroom, or additional living space. This classic home offers large rooms and the character often found in older properties. With a solid layout and generous space throughout, it provides a great opportunity for a buyer to update and customize the home to their own style while building equity. The detached garage is set up as a great hangout or man-cave space, perfect for hobbies, projects, or entertaining. The home also features a full basement that provides additional storage and utility space, along with an extra toilet for added convenience. With great space inside and out, this home offers a fantastic opportunity for the next owner to make it their own.

22. 2004-08-26
    soldstatus $71,200

ⓘ 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: $1,522 · $127/mo
• Projected year-2 tax: $1,646 · $137/mo
• Expected delta: +$124/yr (+$10/mo · 8.1%)

ⓘ 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 3/10 Moderate 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,494
• − Mortgage interest: −$6,436
• − Property taxes: −$1,522
• − Insurance: −$574
• − Repairs & maintenance: −$1,400
• − Management: −$1,400
• − Depreciation: −$3,343
• Taxable income: $2,820
• Est. tax owed @ 24.0%: −$677
• After-tax cash flow: $3,816/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: Bay City School District
• NCES district ID: 2604260
• Math proficiency: 27% ▼ -8.00%
• Reading proficiency: 40% ▼ -4.00%
• Median HH income: $43,833
• Composite: 28.47/100
• National rank: #6743
• State rank: #317 of 540 in MI

Livability — Bay City

• Score: 68/100
• State rank: #360
• US rank: #8912

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bay City, MI
• County: Bay County · 36,975 people
• City population: 25,635
• Metro: Bay City, MI
• Population (ZIP): 25,635
• Household income: $50,518
• Rent vs Own: 29.9% rent · 70.1% own
• Severe rent burden: 528.0

Population outlook (Bay County) Hauer SSP2

• Today (2025): 101,476 people
• By 2030: 98,152 · -3.3%
• By 2040: 89,711 · -11.6%
• By 2050: 80,614 · -20.6%
• By 2075: 60,544 · -40.3%
• By 2100: 41,603 · -59.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 11% Two or more races 10% Black 3%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Romanian 17% Lithuanian 7% Slovak 2%
• Foreign-born: 2% · Canada, South Korea
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Bay

• 2024 margin: R (+14.7) · D 42.0% · R 56.7% · Other 1.3%
• 2008→2024 swing: -30.0pp toward R · 2008: 15.3pp · 2024: -14.7pp
• All cycles: 2024: R+14.7 2020: R+11.6 2016: R+12.6 2012: D+6.0 2008: D+15.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -82.21%
• Current HPI: 183.5774
• Rent YoY: —
• Metro: Bay City, 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

+61.4% since first listed

6 events — show timeline

• 2026-03-25 Price Changed $114,900 MiRealSource-MiMLS
• 2026-03-25 Relisted — MiRealSource-MiMLS
• 2026-03-20 Contingent — MiRealSource-MiMLS
• 2026-03-06 Listed $115,000 MiRealSource-MiMLS
• 2026-03-05 Coming Soon $115,000 MiRealSource-MiMLS
• 2004-08-26 Sold (Public Records) $71,200 Public Records

Property tax history

-0.5%/yr

Latest (2025): $1,522 · -15.2% YoY. Source: county tax records.