1005 S Meridian Rd · Merrill, MI 48637

$94,900

3 bd · 1.0 ba · 864 sqft · SingleFamily public records · 6 Days on market

Built 1950 0.88 ac lot

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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 +25.5/30.0
• DSCR +8.5/10.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for an affordable home that still offers peace and quiet? Check out this 3 bedroom home located in Merrill that sits on just shy of an acre. Large 2 car attached garage + additional shed. The roof and siding have both been updated. This home has been lovingly owned by the same family for 50 years and is ready for it's next chapter. Call your favorite Realtor for a showing today!

Key facts

• Just shy of an acre
• Updated siding
• Attached garage

Tags

• UPDATED ROOF
• UPDATED SIDING
• ATTACHED GARAGE
• ADDITIONAL SHED
• JUST SHY OF AN ACRE

Property features AI

Finance

• HOA & community: Homeowners association present

Exterior

• Parking: Attached garage; 2 garage spaces
• Utilities: Private well water; Septic tank sewer
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Block foundation; Built with a shingle roof
• Exterior features: Shed(s) on the property; Publicly maintained road access

Interior

• Kitchen: Oven; Range
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating; Propane heating; No central air conditioning
• Interior features: Eat-in kitchen; 7 total rooms; Crawl space and block basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $222 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).

Location & tenants

• Location reads 59/100 on livability (#612 in MI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: health & safety C-, schools D+, crime F.
• Merrill Community Schools (rural): math 19% / reading 32% proficiency, ranked #407 of 540 in MI (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 17 active listings in the ZIP; 154 units permitted in Saginaw County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $656 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Saginaw County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $94,900

Questions for the listing agent

1. Built in 1950 — 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: 1.06% ✓
• Cap rate: 9.10%
• Cash-on-cash: 10.03%
• DSCR: 1.45
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -1.3%
• Equity multiple: 0.95×
• Total profit: $-1,267
• Equity at exit: $14,150

10-year hold

• IRR: 8.4%
• Equity multiple: 1.64×
• Total profit: $16,973
• Equity at exit: $8,205

Cash invested: $26,572 (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 48637

• Home prices YoY: -16.4%
• Active inventory: 17
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,011 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$39 /mo · $469/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$212
• Net cashflow: $222

Break-even live

Break-even rent $729

Max offer price $94,900

Occupancy floor 73%

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-18
   listed $94,900 Active

   Show marketing remark (389 chars)

   Looking for an affordable home that still offers peace and quiet? Check out this 3 bedroom home located in Merrill that sits on just shy of an acre. Large 2 car attached garage + additional shed. The roof and siding have both been updated. This home has been lovingly owned by the same family for 50 years and is ready for it's next chapter. Call your favorite Realtor for a showing today!

2. 2026-05-18
   listed $94,900 Active 389-char remark

   Show marketing remark (389 chars)

   Looking for an affordable home that still offers peace and quiet? Check out this 3 bedroom home located in Merrill that sits on just shy of an acre. Large 2 car attached garage + additional shed. The roof and siding have both been updated. This home has been lovingly owned by the same family for 50 years and is ready for it's next chapter. Call your favorite Realtor for a showing today!

ⓘ 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: $469 · $39/mo
• Projected year-2 tax: $965 · $80/mo
• Expected delta: +$496/yr (+$41/mo · 105.8%)

ⓘ 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 2/10 Low 7 d/yr ≥98°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: $12,127
• − Mortgage interest: −$5,316
• − Property taxes: −$469
• − Insurance: −$474
• − Repairs & maintenance: −$970
• − Management: −$970
• − Depreciation: −$2,761
• Taxable income: $1,167
• Est. tax owed @ 24.0%: −$280
• After-tax cash flow: $2,385/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: Merrill Community Schools
• NCES district ID: 2623610
• Math proficiency: 19% ▼ -10.00%
• Reading proficiency: 32% ▼ -5.00%
• Median HH income: $48,417
• Composite: 22.27/100
• National rank: #8141
• State rank: #407 of 540 in MI

Livability — Merrill

• Score: 59/100
• State rank: #612
• US rank: #20550

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 3,068
• Population (ZIP): 3,068

Population outlook (Saginaw County) Hauer SSP2

• Today (2025): 180,568 people
• By 2030: 172,302 · -4.6%
• By 2040: 153,919 · -14.8%
• By 2050: 135,519 · -24.9%
• By 2075: 97,199 · -46.2%
• By 2100: 65,037 · -64.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 11% Two or more races 9%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Lithuanian 9% Romanian 5% Slovak 3%
• Foreign-born: 3% · Canada
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Saginaw

• 2024 margin: Toss-up / Even · D 47.7% · R 51.0% · Other 1.4%
• 2008→2024 swing: -20.6pp toward R · 2008: 17.3pp · 2024: -3.3pp
• All cycles: 2024: R+3.3 2020: D+0.3 2016: R+1.1 2012: D+11.9 2008: D+17.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -40.33%
• Current HPI: 206.396
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-18 Listed $94,900 REALCOMP
• 2026-05-18 Listed $94,900 MiRealSource-MiMLS

Property tax history

-8.8%/yr

Latest (2025): $469 · -75.3% YoY. Source: county tax records.