227 Church St · Coldwater, MI 49036

$104,900

2 bd · 1.5 ba · 1,156 sqft · SingleFamily public records · 67 Days on market

Built 1930 0.26 ac lot Est $168k · 37% 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 +25.1/30.0
• ARV discount +15.0/15.0
• DSCR +8.2/10.0
• 1% rule +5.5/10.0
• Livability +3.6/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Multiple Offers, Highest & Best due by Wed. April 1 at 12 noon. 2 bedroom, 1 1/2 bath Coldwater home close to the Hospital, restaurants & shopping. Bring your tools as it won't take much to make this home your own. Nice size yard with 1 1/2 car garage. Immediate possession. Property being sold ''As is'', ''Where is'', ''with All faults''. This company makes no warranty or representations about the contents of this data. It is the responsibility of the parties looking at the property to satisfy themselves as to the accuracy of this information. Taxes were obtained from the local assessor and the taxes could change for the buyer after a closed transaction.

Key facts

• 0.26 acre lot
• Garage
• Built 1930

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Natural gas connected
• Home design: Traditional single-family residence; One- to two-story layout
• Construction: Built in 1930; Wood siding; Composition roof; Partial basement
• Exterior features: Paved road access; Lot of about 0.26 acres

Interior

• Kitchen: Kitchen
• Bedrooms: Primary bedroom; Second bedroom
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating
• Interior features: Seven total rooms; Partial basement
• Laundry & utility: Natural gas connected

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $233 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $99k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 3.3% in Coldwater — 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 71/100 on livability (#270 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, employment D+, amenities F.
• Coldwater Community Schools (town): math 26% / reading 37% proficiency, ranked #344 of 540 in MI (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 140 active listings in the ZIP; 3 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; 43 units permitted in Branch County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $725 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Branch County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 15y 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.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $98,606 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — 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. 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: 1.05% ✓
• Cap rate: 8.96%
• Cash-on-cash: 9.51%
• DSCR: 1.42
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $167,620
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
227 Church St	0.00mi	2/1.5	1,156 (0%)	0mo	$105,000	$91	100
112 Elm St	0.40mi	2/1.0	1,128 (-2%)	0mo	$81,000	$72	75
112 Cutter Ave	0.15mi	3/1.0 (+1)	1,180 (+2%)	10mo	$167,500	$142	74
228 Cutter Ave	0.28mi	2/1.0	1,200 (+4%)	8mo	$180,000	$150	72
88 N Sprague St	0.04mi	3/1.0 (+1)	1,267 (+10%)	5mo	$190,000	$150	71
28 Avery Dr	0.48mi	3/1.5 (+1)	1,176 (+2%)	5mo	$140,000	$119	66
195 Cutter Ave	0.25mi	2/1.5	1,024 (-11%)	7mo	$148,450	$145	63
176 Smith St	0.28mi	3/1.0 (+1)	1,255 (+9%)	8mo	$200,000	$159	59
99 Avery Dr	0.42mi	1/1.0 (-1)	1,080 (-7%)	9mo	$145,000	$134	54
95 S Monroe St	0.67mi	3/1.0 (+1)	1,200 (+4%)	3mo	$71,000	$59	53
102 Pillsbury Ave	0.43mi	3/2.0 (+1)	1,040 (-10%)	5mo	$225,000	$216	52
162 Avery Dr	0.47mi	3/1.0 (+1)	1,264 (+9%)	10mo	$189,000	$150	47

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: -2.0%
• Equity multiple: 0.92×
• Total profit: $-2,212
• Equity at exit: $15,641

10-year hold

• IRR: 7.7%
• Equity multiple: 1.58×
• Total profit: $17,007
• Equity at exit: $9,070

Cash invested: $29,372 (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 49036

• Active inventory: 140
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,099 medium
• Mortgage (P&I): −$550
• Tax from tax record: −$42 /mo · $503/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $233

Break-even live

Break-even rent $805

Max offer price $104,900

Occupancy floor 74%

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
39 Whispering Pines Dr Coldwater, MI	1.0–3.0	1.0–2.0	1012	$924	$0.91	43d	1	0.51mi
313 W Chicago St Coldwater, MI	3.0	1.0	802	$1,232	$1.53	43d	1	1.18mi
421 N Willowbrook Rd Coldwater, MI	2.0	1.0–2.0	755	$1,540	$2.04	43d	11	1.30mi

Listing history 26 events

1. 2026-06-01
   status $104,900 Pending 67 DOM
2. 2026-06-01
   days on market $104,900 Active - Contingent 67 DOM
3. 2026-05-31
   days on market $104,900 Active - Contingent 66 DOM
4. 2026-05-31
   days on market $104,900 Active - Contingent 65 DOM
5. 2026-04-28
   historical Active Under Contract 674-char remark

   Show marketing remark (674 chars)

   Multiple Offers, Highest & Best due by Wed. April 1 at 12 noon. 2 bedroom, 1 1/2 bath Coldwater home close to the Hospital, restaurants & shopping. Bring your tools as it won't take much to make this home your own. Nice size yard with 1 1/2 car garage. Immediate possession. Property being sold ''As is'', ''Where is'', ''with All faults''. This company makes no warranty or representations about the contents of this data. It is the responsibility of the parties looking at the property to satisfy themselves as to the accuracy of this information. Taxes were obtained from the local assessor and the taxes could change for the buyer after a closed transaction.

6. 2026-04-28
   historical Keep Showing-Contgcy Appl 674-char remark

   Show marketing remark (674 chars)

   Multiple Offers, Highest & Best due by Wed. April 1 at 12 noon. 2 bedroom, 1 1/2 bath Coldwater home close to the Hospital, restaurants & shopping. Bring your tools as it won't take much to make this home your own. Nice size yard with 1 1/2 car garage. Immediate possession. Property being sold ''As is'', ''Where is'', ''with All faults''. This company makes no warranty or representations about the contents of this data. It is the responsibility of the parties looking at the property to satisfy themselves as to the accuracy of this information. Taxes were obtained from the local assessor and the taxes could change for the buyer after a closed transaction.

7. 2026-04-28
   historical Active - Contingent

   Show marketing remark (674 chars)

   Multiple Offers, Highest & Best due by Wed. April 1 at 12 noon. 2 bedroom, 1 1/2 bath Coldwater home close to the Hospital, restaurants & shopping. Bring your tools as it won't take much to make this home your own. Nice size yard with 1 1/2 car garage. Immediate possession. Property being sold ''As is'', ''Where is'', ''with All faults''. This company makes no warranty or representations about the contents of this data. It is the responsibility of the parties looking at the property to satisfy themselves as to the accuracy of this information. Taxes were obtained from the local assessor and the taxes could change for the buyer after a closed transaction.

8. 2026-03-25
   listed $104,900 Active 674-char remark

   Show marketing remark (674 chars)

   Multiple Offers, Highest & Best due by Wed. April 1 at 12 noon. 2 bedroom, 1 1/2 bath Coldwater home close to the Hospital, restaurants & shopping. Bring your tools as it won't take much to make this home your own. Nice size yard with 1 1/2 car garage. Immediate possession. Property being sold ''As is'', ''Where is'', ''with All faults''. This company makes no warranty or representations about the contents of this data. It is the responsibility of the parties looking at the property to satisfy themselves as to the accuracy of this information. Taxes were obtained from the local assessor and the taxes could change for the buyer after a closed transaction.

9. 2026-03-25
   listed $104,900 Active 674-char remark

   Show marketing remark (674 chars)

   Multiple Offers, Highest & Best due by Wed. April 1 at 12 noon. 2 bedroom, 1 1/2 bath Coldwater home close to the Hospital, restaurants & shopping. Bring your tools as it won't take much to make this home your own. Nice size yard with 1 1/2 car garage. Immediate possession. Property being sold ''As is'', ''Where is'', ''with All faults''. This company makes no warranty or representations about the contents of this data. It is the responsibility of the parties looking at the property to satisfy themselves as to the accuracy of this information. Taxes were obtained from the local assessor and the taxes could change for the buyer after a closed transaction.

10. 2026-03-25
    listed $104,900 Active

    Show marketing remark (674 chars)

    Multiple Offers, Highest & Best due by Wed. April 1 at 12 noon. 2 bedroom, 1 1/2 bath Coldwater home close to the Hospital, restaurants & shopping. Bring your tools as it won't take much to make this home your own. Nice size yard with 1 1/2 car garage. Immediate possession. Property being sold ''As is'', ''Where is'', ''with All faults''. This company makes no warranty or representations about the contents of this data. It is the responsibility of the parties looking at the property to satisfy themselves as to the accuracy of this information. Taxes were obtained from the local assessor and the taxes could change for the buyer after a closed transaction.

11. 2020-12-29
    soldstatus $118,000
12. 2020-12-23
    soldstatus $118,000 Sold
13. 2020-12-23
    soldstatus $118,000 Sold
14. 2020-12-18
    status Pending
15. 2020-12-18
    status Pending
16. 2020-12-18
    status Pending
17. 2020-11-03
    historical Keep Showing-Contgcy Appl
18. 2020-11-03
    historical Contingent - Continue To Show
19. 2020-11-03
    historical Active Contingent
20. 2020-10-06
    listed $118,000 Active
21. 2020-10-06
    listed $118,000 Active
22. 2020-10-06
    listed $118,000 Active
23. 2019-12-03
    soldstatus $45,000
24. 2014-09-18
    historical
25. 2011-08-12
    listed $55,900
26. 2011-08-12
    listed $55,900

ⓘ 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: $503 · $42/mo
• Projected year-2 tax: $1,059 · $88/mo
• Expected delta: +$556/yr (+$46/mo · 110.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°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: $13,192
• − Mortgage interest: −$5,876
• − Property taxes: −$503
• − Insurance: −$524
• − Repairs & maintenance: −$1,055
• − Management: −$1,055
• − Depreciation: −$3,052
• Taxable income: $1,126
• Est. tax owed @ 24.0%: −$270
• After-tax cash flow: $2,523/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: Coldwater Community Schools
• NCES district ID: 2610140
• Math proficiency: 26% ▼ -12.00%
• Reading proficiency: 37% ▼ -5.00%
• Median HH income: $44,373
• Composite: 26.87/100
• National rank: #7101
• State rank: #344 of 540 in MI

Livability — Coldwater

• Score: 71/100
• State rank: #270
• US rank: #6664

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Coldwater, MI
• Population (ZIP): 24,697

Population outlook (Branch County) Hauer SSP2

• Today (2025): 41,079 people
• By 2030: 39,622 · -3.5%
• By 2040: 36,584 · -10.9%
• By 2050: 33,462 · -18.5%
• By 2075: 26,612 · -35.2%
• By 2100: 18,580 · -54.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 7% Two or more races 5% Black 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 5% Iranian 3% Lithuanian 2%
• Foreign-born: 8% · Canada
• Languages at home: 86% English-only · Arabic 7% Spanish 5% German/W. Germanic 1%

Political lean MEDSL · Branch

• 2024 margin: Solid R (+42.4) · D 28.0% · R 70.4% · Other 1.6%
• 2008→2024 swing: -36.2pp toward R · 2008: -6.1pp · 2024: -42.4pp
• All cycles: 2024: R+42.4 2020: R+38.5 2016: R+38.1 2012: R+18.7 2008: R+6.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -214.60%
• Current HPI: 192.653
• 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

+87.7% since first listed

22 events — show timeline

• 2026-04-28 Contingent — REALCOMP
• 2026-04-28 Contingent — MiRealSource-MiMLS
• 2026-04-28 Contingent — SW Michigan MLS
• 2026-03-25 Listed $104,900 SW Michigan MLS
• 2026-03-25 Listed $104,900 MiRealSource-MiMLS
• 2026-03-25 Listed $104,900 REALCOMP
• 2020-12-29 Sold (Public Records) $118,000 Public Records
• 2020-12-23 Sold (MLS) $118,000 SW Michigan MLS
• 2020-12-23 Sold (MLS) $118,000 REALCOMP
• 2020-12-18 Pending — REALCOMP
• 2020-12-18 Pending — MiRealSource-MiMLS
• 2020-12-18 Pending — SW Michigan MLS
• 2020-11-03 Contingent — MiRealSource-MiMLS
• 2020-11-03 Contingent — REALCOMP
• 2020-11-03 Contingent — SW Michigan MLS
• 2020-10-06 Listed $118,000 MiRealSource-MiMLS
• 2020-10-06 Listed $118,000 SW Michigan MLS
• 2020-10-06 Listed $118,000 REALCOMP
• 2019-12-03 Sold (Public Records) $45,000 Public Records
• 2014-09-18 Listing Removed — SW Michigan MLS
• 2011-08-12 Listed $55,900 REALCOMP
• 2011-08-12 Listed $55,900 SW Michigan MLS

Property tax history

-42.5%/yr

Latest (2024): $503 · -67.0% YoY. Source: county tax records.