823 Raisin River Rd · Three Rivers, MI 49093

$125,000

3 bd · 2.0 ba · 1,560 sqft · SingleFamily · 5 Days on market

Built 2001

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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 +3.5/10.0
• 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

Welcome home to this beautifully maintained ranch! This well-cared-for 3BA/2BA home offers comfortable living with a spacious, open floor plan and new carpeting through most of the home. The inviting living area features a gorgeous fireplace flanked by built-in shelving, creating the perfect focal point for cozy evenings at home. The large primary suite provides a peaceful retreat w/ its private ensuite bath complete w/ a relaxing soaking tub. A convenient laundry room adds to the home's functionality, while the deck with an automatic awning offers the ideal spot for outdoor entertaining or simply enjoying the beautifully landscaped yard. Pet lovers will appreciate the fenced area designed for small pets, & the detached shed/garage provides excellent storage & workspace. Surrounded by attractive landscaping & situated on a nice corner lot in a wonderful neighborhood, this move-in-ready home offers the perfect blend of comfort and convenience. Don't miss this exceptional opportunity!BATVI. This sale is for the home only. The lot is leased and all prospective buyers will be required to apply and be approved through management of the River Run Estates. Cash or mobile home financing available. Lot Rent is $445.00 per month. Buyer(s) must fill out application for park & be approved before writing an offer. Buyers will pay transfer fees and state taxes.

Key facts

• Garage
• Built 2001
• Listed 5 days

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Natural gas connected; Cable connected; Natural gas water heater
• Home design: Ranch-style single-family home; One-story
• Construction: Built in 2001; Vinyl siding; Composition roof; Slab foundation
• Exterior features: Corner lot; Shed(s); Paved road access

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: Primary bedroom; Four additional bedrooms (Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5)
• Bathrooms: Two full bathrooms; Primary bathroom
• Heating & cooling: Forced air heating; Central cooling
• Interior features: Wood-burning fireplace; Insulated windows; Window treatments; Ten total rooms
• Laundry & utility: Washer; Dryer; Laundry room

🏷️ Possibly a rental listed for sale. The $125,000 price doesn't fit this home's estimated sale value (~$255,840) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Cap rate 16.2% vs local median 4.7% in Three Rivers — 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 (#306 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, crime D, amenities F.
• Three Rivers Community Schools (town): math 37% / reading 45% proficiency, ranked #200 of 540 in MI (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 181 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 125 units permitted in St. Joseph County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• St. Joseph County population projected at -16% 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 $35k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 9y 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 $50k; list at $125k implies a 148% gain — meaningful room to come down on a strong offer.

Recommended offer $125,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.92% ✓
• Cap rate: 16.16%
• Cash-on-cash: 35.25%
• DSCR: 2.57
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $255,840
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
623 E Hoffman St	0.49mi	3/2.0	1,596 (+2%)	15mo	$261,000	$164	61
57470 Buckhorn Rd	0.39mi	3/2.0	1,580 (+1%)	23mo	$339,000	$215	60
1007 Walnut St	0.71mi	3/1.5	1,560 (0%)	24mo	$190,000	$122	45
1107 Elm St	0.64mi	2/2.0 (-1)	1,720 (+10%)	8mo	$260,000	$151	41
416 Tenth Ave	0.53mi	4/2.0 (+1)	1,768 (+13%)	8mo	$175,000	$99	41
16917 Bridgette Dr	0.68mi	3/1.5	1,338 (-14%)	18mo	$235,000	$176	28

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: 30.8%
• Equity multiple: 2.29×
• Total profit: $45,268
• Equity at exit: $18,638

10-year hold

• IRR: 38.0%
• Equity multiple: 4.54×
• Total profit: $123,890
• Equity at exit: $10,808

Cash invested: $35,000 (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 49093

• Active inventory: 181
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $2,395 medium
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$503
• Net cashflow: $1,028

Break-even live

Break-even rent $1,093

Max offer price $125,000

Occupancy floor 52%

Sensitivity live

Price	-10% $1,115	-5% $1,071	+0% $1,028	+5% $985	+10% $942
Rent	-10% $839	-5% $934	+0% $1,028	+5% $1,123	+10% $1,217
Rate	-1.0pp $1,091	-0.5pp $1,060	base $1,028	+0.5pp $996	+1.0pp $963

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1645 Garfield Three Rivers, MI	4.0	2.5	1810	$2,395	$1.32	22d	1	0.92mi

Listing history 4 events

1. 2026-06-21
   days on market $125,000 Active 5 DOM
2. 2026-06-18
   days on market $125,000 Active 2 DOM
3. 2026-06-16
   remarks 699-char remark

   Show marketing remark (1014 chars)

   Welcome home to this beautifully maintained ranch! This well-cared-for 3BA/2BA home offers comfortable living with a spacious, open floor plan and new carpeting through most of the home. The inviting living area features a gorgeous fireplace flanked by built-in shelving, creating the perfect focal point for cozy evenings at home. The large primary suite provides a peaceful retreat w/ its private ensuite bath complete w/ a relaxing soaking tub. A convenient laundry room adds to the home's functionality, while the deck with an automatic awning offers the ideal spot for outdoor entertaining or simply enjoying the beautifully landscaped yard. Pet lovers will appreciate the fenced area designed for small pets, & the detached shed/garage provides excellent storage & workspace. Surrounded by attractive landscaping & situated on a nice corner lot in a wonderful neighborhood, this move-in-ready home offers the perfect blend of comfort and convenience. Don't miss this exceptional opportunity!

4. 2026-06-16
   listed $125,000 Active 1 DOM

   Show marketing remark (1014 chars)

   Welcome home to this beautifully maintained ranch! This well-cared-for 3BA/2BA home offers comfortable living with a spacious, open floor plan and new carpeting through most of the home. The inviting living area features a gorgeous fireplace flanked by built-in shelving, creating the perfect focal point for cozy evenings at home. The large primary suite provides a peaceful retreat w/ its private ensuite bath complete w/ a relaxing soaking tub. A convenient laundry room adds to the home's functionality, while the deck with an automatic awning offers the ideal spot for outdoor entertaining or simply enjoying the beautifully landscaped yard. Pet lovers will appreciate the fenced area designed for small pets, & the detached shed/garage provides excellent storage & workspace. Surrounded by attractive landscaping & situated on a nice corner lot in a wonderful neighborhood, this move-in-ready home offers the perfect blend of comfort and convenience. Don't miss this exceptional opportunity!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $28,740
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$2,299
• − Management: −$2,299
• − Depreciation: −$3,636
• Taxable income: $11,003
• Est. tax owed @ 24.0%: −$2,641
• After-tax cash flow: $9,698/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: Three Rivers Community Schools
• NCES district ID: 2633840
• Math proficiency: 37% ▲ 1.00%
• Reading proficiency: 45% ▼ -3.00%
• Median HH income: $46,576
• Composite: 34.97/100
• National rank: #5058
• State rank: #200 of 540 in MI

Livability — Three Rivers

• Score: 70/100
• State rank: #306
• US rank: #7604

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Three Rivers, MI
• Population (ZIP): 18,439

Population outlook (St. Joseph County) Hauer SSP2

• Today (2025): 58,726 people
• By 2030: 57,030 · -2.9%
• By 2040: 53,266 · -9.3%
• By 2050: 49,343 · -16.0%
• By 2075: 40,441 · -31.1%
• By 2100: 31,981 · -45.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 8% Hispanic / Latino 5% Black 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 11% Iranian 5% Romanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1%

Political lean MEDSL · St. Joseph

• 2024 margin: Solid R (+34.0) · D 32.2% · R 66.2% · Other 1.5%
• 2008→2024 swing: -31.8pp toward R · 2008: -2.2pp · 2024: -34.0pp
• All cycles: 2024: R+34.0 2020: R+31.7 2016: R+31.0 2012: R+12.3 2008: R+2.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -159.07%
• Current HPI: 226.5079
• 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

+127.7% since first listed

8 events — show timeline

• 2026-06-16 Listed $125,000 REALCOMP
• 2026-06-16 Listed $125,000 MiRealSource-MiMLS
• 2026-06-16 Listed $125,000 SW Michigan MLS
• 2017-07-18 Sold (MLS) $50,500 SW Michigan MLS
• 2017-07-18 Sold (MLS) $50,500 REALCOMP
• 2017-06-30 Pending — SW Michigan MLS
• 2017-04-28 Listed $54,900 SW Michigan MLS
• 2017-04-28 Listed $54,900 REALCOMP