7961 Hurd Rd

Naubinway, MI 49762

$174,900C-

4 bd · 1.0 ba · 1,620 sqft · Built 1975 · SingleFamily · Active · 48 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,341/mo
• Mortgage (P&I): −$917
• Tax + insurance: −$115
• HOA: −$0
• Vac / Maint / Mgmt: −$282
• Net cashflow: $27/mo
• Annual: $320/yr
• Cap rate: 6.48%
• Cash-on-cash: 0.65%
• DSCR: 1.03
• 1% rule: 0.77%
• Cash to close: $48,972

Investor read

• This is a 4-bed/1.0-bath single-family listed at $175k.
• At list price, monthly cash flow is $27 ($320/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $134k (23.3% below list).
• It's been on market 48 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $134k (23.3% below list) — sets the bar for 1% rule.
• In year one you build about $83 of equity ($1k loan paydown + $-1k appreciation (-0.6% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Engadine Consolidated Schools (rural): math 25% / reading 40% proficiency, ranked #504 of 760 in MI (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 22 active listings in the ZIP; 41 units permitted in Mackinac County in 2024 (0 in 5+ unit buildings).
• Mackinac County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 4y 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.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 48 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
• Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.