903 S Monroe St · Bay City, MI 48708

$99,900

3 bd · 1.0 ba · 1,058 sqft · SingleFamily public records · 20 Days on market

Built 1915 5,227 sqft lot Est $116k · 14% under

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Why this score? — see what drove the C 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 +22.0/30.0
• ARV discount +13.9/15.0
• DSCR +7.0/10.0
• 1% rule +5.7/10.0
• 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

HUD Home Sold AS IS. 3 bedrooms Ceiling height below 7' only 1 with a closet, wood floors, full basement with open lavatory and laundry area. Newer high efficiency furnace. Enclosed porch with carpet. Some work needed.

Key facts

• Full basement
• Repainted interior
• Vinyl siding

Tags

• FULL BASEMENT
• FENCED IN YARD
• REPAINTED INTERIOR
• VINYL WALLSIDE WINDOWS
• VINYL SIDING
• 3 SEASON PORCH

Property features AI

Exterior

• Parking: Detached garage (1.5 parking spaces)
• Utilities: Public water; Public sanitary sewer
• Home design: Residential property; 1 1/2-story structure; Built in 1915
• Construction: Vinyl siding with vinyl trim; Basement foundation
• Exterior features: Fenced yard; Road frontage

Interior

• Kitchen: 12 x 12 kitchen with vinyl flooring; Refrigerator included
• Bedrooms: First-floor bedroom (13 x 8) with laminate flooring; Second-floor bedroom (14 x 10); Second-floor bedroom (approx. 10 wide)
• Flooring: Laminate flooring in bedroom and living room; Vinyl flooring in kitchen
• Bathrooms: 1 full bathroom; 2 total baths/lavatories (including 1 lavatory)
• Heating & cooling: Forced air heating; Natural gas fuel; Gas water heater
• Interior features: 8 total rooms; First floor full bathroom; Basement present
• Laundry & utility: Basement (utility/laundry area available)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $158 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 6.5% in Bay City — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: amenities D, crime F, commute 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.
• Zoned schools: Washington Elementary School (math 8% / reading 17%, grade F, #1,203 of 1,397 statewide, top 87%, 395 students, 93% FRL); Handy Middle School (math 17% / reading 33%, grade F, #387 of 493 statewide, top 78%, 685 students, 79% FRL); Bay City Central High School (math 22% / reading 47%, grade F, #372 of 713 statewide, top 56%, 1,033 students, 64% FRL) — zoned schools average 79% FRL vs 44% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 150 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 39 units permitted in Bay County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 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.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 21y ago; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $15k; list at $100k implies a 578% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $98,401 (1.5% below list)

Questions for the listing agent

1. Built in 1915 — 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 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?
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: 1.07% ✓
• Cap rate: 8.20%
• Cash-on-cash: 6.80%
• DSCR: 1.30
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $116,380
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
732 S Madison Ave	0.10mi	3/1.0	1,068 (+1%)	3mo	$117,100	$110	91
901 S Monroe St	0.01mi	4/1.0 (+1)	1,104 (+4%)	4mo	$41,500	$38	84
1010 13th St	0.47mi	2/1.0 (-1)	1,048 (-1%)	4mo	$65,000	$62	68
605 19th St	0.27mi	3/1.0	930 (-12%)	1mo	$49,000	$53	67
406 Stanton St	0.53mi	2/1.0 (-1)	1,044 (-1%)	2mo	$66,500	$64	66
610 15th St	0.36mi	3/1.0	960 (-9%)	3mo	$107,000	$111	65
1705 Fitzhugh St	0.56mi	4/2.0 (+1)	1,054 (-0%)	3mo	$140,000	$133	61
720 S Sherman St	0.26mi	2/1.0 (-1)	920 (-13%)	2mo	$232,000	$252	59
1017 S Lincoln St	0.38mi	2/1.0 (-1)	936 (-12%)	4mo	$87,900	$94	55
501 S McLellan St	0.53mi	3/1.0	1,176 (+11%)	4mo	$153,000	$130	53
115 Webster St	0.69mi	2/1.5 (-1)	1,146 (+8%)	2mo	$90,000	$79	46
1517 11th St	0.74mi	3/1.5	1,200 (+13%)	1mo	$143,000	$119	40

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: -5.9%
• Equity multiple: 0.78×
• Total profit: $-6,086
• Equity at exit: $14,895

10-year hold

• IRR: 3.8%
• Equity multiple: 1.28×
• Total profit: $7,740
• Equity at exit: $8,638

Cash invested: $27,972 (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: 150
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,064 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$117 /mo · $1,404/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $158

Break-even live

Break-even rent $864

Max offer price $99,900

Occupancy floor 80%

Sensitivity live

Price	-10% $215	-5% $187	+0% $158	+5% $130	+10% $102
Rent	-10% $74	-5% $116	+0% $158	+5% $200	+10% $243
Rate	-1.0pp $209	-0.5pp $184	base $158	+0.5pp $133	+1.0pp $106

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
600 18th St Bay City, MI	2.0	1.0	1000	$950	$0.95	45d	1	0.30mi
800 McKinley St Bay City, MI	2.0	1.0	796	$925	$1.16	45d	1	0.86mi
403 Polk St Bay City, MI	2.0	1.0	748	$1,000	$1.34	45d	1	1.06mi
1305 Washington Ave Bay City, MI	2.0	1.0	635	$1,675	$2.64	45d	1	1.50mi

Listing history 17 events

1. 2026-06-21
   days on market $99,900 Active 20 DOM
2. 2026-06-19
   days on market $99,900 Active 18 DOM
3. 2026-06-18
   days on market $99,900 Active 17 DOM
4. 2026-06-17
   price $99,900 Active 16 DOM
5. 2026-06-17
   days on market $104,900 Active 16 DOM
6. 2026-06-16
   days on market $104,900 Active 15 DOM
7. 2026-06-15
   days on market $104,900 Active 14 DOM
8. 2026-06-14
   days on market $104,900 Active 12 DOM
9. 2026-06-12
   days on market $104,900 Active 11 DOM
10. 2026-06-09
    days on market $104,900 Active 8 DOM
11. 2026-06-09
    price $104,900 Active 7 DOM
12. 2026-06-08
    days on market $109,900 Active 7 DOM
13. 2026-06-07
    days on market $109,900 Active 6 DOM
14. 2026-06-05
    days on market $109,900 Active 3 DOM
15. 2026-06-03
    days on market $109,900 Active 2 DOM
16. 2026-06-02
    remarks 271-char remark
17. 2026-06-02
    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: $1,404 · $117/mo
• Projected year-2 tax: $1,471 · $123/mo
• Expected delta: +$67/yr (+$6/mo · 4.8%)

ⓘ 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: $12,774
• − Mortgage interest: −$5,596
• − Property taxes: −$1,404
• − Insurance: −$500
• − Repairs & maintenance: −$1,022
• − Management: −$1,022
• − Depreciation: −$2,906
• Taxable income: $324
• Est. tax owed @ 24.0%: −$78
• After-tax cash flow: $1,823/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

+57.2% since first listed

18 events — show timeline

• 2026-06-01 Listed $109,900 MiRealSource-MiMLS
• 2017-02-27 Listing Removed — MiRealSource-MiMLS
• 2017-02-17 Listed $37,500 MiRealSource-MiMLS
• 2016-11-30 Sold (MLS) $14,725 MiRealSource-MiMLS
• 2016-11-30 Sold (MLS) $14,725 MiRealSource-MiMLS
• 2016-11-30 Sold (MLS) $14,725 REALCOMP
• 2016-05-05 Listing Removed — MiRealSource-MiMLS
• 2016-05-05 Listed $27,432 MiRealSource-MiMLS
• 2016-05-05 Listing Removed — REALCOMP
• 2016-05-05 Listed $27,432 REALCOMP
• 2016-03-11 Listed $45,720 MiRealSource-MiMLS
• 2016-03-11 Listed $27,432 MiRealSource-MiMLS
• 2016-03-11 Listed $45,720 REALCOMP
• 2006-09-01 Sold (Public Records) $64,500 Public Records
• 2006-08-31 Sold (MLS) $64,500 MiRealSource-MiMLS
• 2006-05-25 Listed $63,900 MiRealSource-MiMLS
• 2006-04-30 Listing Removed — MiRealSource-MiMLS
• 2005-06-05 Listed $69,900 MiRealSource-MiMLS

Property tax history

+1.6%/yr

Latest (2025): $1,404 · -10.1% YoY. Source: county tax records.