709 S Main St · Three Rivers, MI 49093

$109,900

4 bd · 1.0 ba · 1,944 sqft · SingleFamily public records · 4 Days on market

Built 1900 8,276 sqft lot Est $152k · 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• 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

Looking for a 4 bedrooms home with fireplace in living room and dining room off the kitchen, enclosed front porch, 1 car detached garage

Key facts

• Fireplace
• Enclosed front porch
• 8,276 sq ft lot

Tags

• FIREPLACE
• ENCLOSED FRONT PORCH

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Natural gas connected; Public water
• Home design: Cape Cod style; Single-family residence; Residential property; 1,944 living area
• Construction: Built in 1900; Brick and wood siding construction; Shingle roof; Full basement (foundation)
• Exterior features: Sidewalk on the lot; Public water

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Gravity heating; Heating present
• Interior features: Fireplace; Seven total rooms; Full basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $479 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Cap rate 11.5% vs local median 5.2% 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: 178 active listings in the ZIP; 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 $760 of loan paydown is wiped out by about $3k 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 $31k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 13y 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 $39k; list at $110k implies a 182% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,900

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 1.37% ✓
• Cap rate: 11.53%
• Cash-on-cash: 18.69%
• DSCR: 1.83
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $151,632
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
509 Madison St	0.03mi	3/2.0 (-1)	1,900 (-2%)	6mo	$155,000	$82	81
719 S Main St	0.02mi	4/2.0	1,828 (-6%)	8mo	$62,500	$34	79
1018 Fifth St	0.24mi	3/1.0 (-1)	1,950 (+0%)	10mo	$113,000	$58	75
705 E Broadway St	0.22mi	3/1.0 (-1)	2,024 (+4%)	6mo	$158,000	$78	72
1111 S Main St	0.28mi	4/1.0	2,068 (+6%)	10mo	$92,500	$45	67
332 S Hooker Ave	0.61mi	4/1.0	1,960 (+1%)	9mo	$143,500	$73	62
105 Wood St	0.52mi	4/3.0	1,868 (-4%)	0mo	$70,000	$37	61
1120 8th St	0.35mi	4/3.0	1,792 (-8%)	5mo	$235,000	$131	59
190 E Michigan Ave	0.65mi	4/2.0	2,000 (+3%)	11mo	$130,000	$65	52
911 S Lincoln Ave	0.72mi	3/2.0 (-1)	1,872 (-4%)	3mo	$252,000	$135	49
1300 River St	0.55mi	4/1.0	1,732 (-11%)	12mo	$245,900	$142	46
632 Spring St	0.46mi	4/2.0	1,653 (-15%)	8mo	$180,000	$109	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: 10.5%
• Equity multiple: 1.41×
• Total profit: $12,715
• Equity at exit: $16,386

10-year hold

• IRR: 19.5%
• Equity multiple: 2.64×
• Total profit: $50,351
• Equity at exit: $9,502

Cash invested: $30,772 (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: 178
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,503 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$86 /mo · $1,028/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $479

Break-even live

Break-even rent $896

Max offer price $109,900

Occupancy floor 63%

Sensitivity live

Price	-10% $542	-5% $510	+0% $479	+5% $448	+10% $417
Rent	-10% $361	-5% $420	+0% $479	+5% $539	+10% $598
Rate	-1.0pp $535	-0.5pp $507	base $479	+0.5pp $451	+1.0pp $422

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-18
   days on market $109,900 Active 4 DOM
2. 2026-06-17
   days on market $109,900 Active 3 DOM
3. 2026-06-16
   days on market $109,900 Active 2 DOM
4. 2026-06-15
   remarks 141-char remark
5. 2026-06-15
   listed $109,900 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: $1,028 · $86/mo
• Projected year-2 tax: $1,360 · $113/mo
• Expected delta: +$332/yr (+$28/mo · 32.3%)

ⓘ 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 ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,033
• − Mortgage interest: −$6,156
• − Property taxes: −$1,028
• − Insurance: −$550
• − Repairs & maintenance: −$1,443
• − Management: −$1,443
• − Depreciation: −$3,197
• Taxable income: $4,217
• Est. tax owed @ 24.0%: −$1,012
• After-tax cash flow: $4,741/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

+162.3% since first listed

6 events — show timeline

• 2026-06-14 Listed $109,900 REALCOMP
• 2026-06-14 Listed $109,900 MiRealSource-MiMLS
• 2026-06-14 Listed $109,900 SW Michigan MLS
• 2014-03-17 Sold (Public Records) $39,000 Public Records
• 2014-03-13 Sold (MLS) $39,000 SW Michigan MLS
• 2013-07-10 Listed $41,900 SW Michigan MLS

Property tax history

+6.6%/yr

Latest (2025): $1,028 · -32.2% YoY. Source: county tax records.