917 Young St · Sault Ste. Marie, MI 49783

$12,500

3 bd · 1.0 ba · 1,012 sqft · SingleFamily public records · 50 Days on market

Built 1900 $12/sqft · 89% below area

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

NO INTERIOR ACCESS! House on 40 x 103 ft lot for sale. Sold ''as-is''. Cash or Construction Loan ONLY.

Key facts

• Built 1900
• Listed 49 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Residential property (R1 zoning)
• Construction: Vinyl siding; Block foundation
• Exterior features: Asphalt roof

Interior

• Bathrooms: 1 full bathroom
• Interior features: Wood window frames; Full unfinished basement
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $12k.

Deal economics

• At list price, monthly cash flow is $952 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $12k).
• Recommended offer: $12k (3.0% below list) — sets the bar for market timing.
• Cap rate 97.7% vs local median 4.5% in Sault Ste. Marie — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Sault Ste. Marie Area Schools (town): math 35% / reading 44% proficiency, ranked #230 of 540 in MI (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 125 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 92 units permitted in Chippewa County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $86 of loan paydown is wiped out by about $375 of value loss. Plan a longer hold.
• Chippewa County population projected at -10% 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 $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($12k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $12,125 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 10.52% ✓
• Cap rate: 97.73%
• Cash-on-cash: 326.56%
• DSCR: 15.53
• GRM: 0.8

CMA / ARV

• ARV (median comp): $116,338
• List price: $12,500
• Delta: -89.26%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
810 Court St	0.18mi	3/1.5	985 (-3%)	2mo	$75,000	$76	83
1612 Minneapolis St	0.52mi	3/1.0	1,002 (-1%)	3mo	$95,000	$95	72
605 Newton Ave	0.13mi	3/1.5	1,130 (+12%)	4mo	$168,000	$149	69
815 John St	0.13mi	2/1.0 (-1)	885 (-12%)	5mo	$104,000	$118	64
1211 Minneapolis St	0.28mi	4/2.0 (+1)	1,100 (+9%)	3mo	$200,000	$182	61
122 W 10th Ave	0.59mi	2/1.0 (-1)	982 (-3%)	6mo	$125,000	$127	58
121 W 12th Ave	0.75mi	3/1.0	1,008 (-0%)	8mo	$124,468	$123	57
1801 Augusta St	0.60mi	2/1.0 (-1)	1,040 (+3%)	6mo	$159,000	$153	57
116 W 12th Ave	0.72mi	3/1.5	1,020 (+1%)	10mo	$160,000	$157	55
1501 Swinton St	0.54mi	2/1.5 (-1)	912 (-10%)	3mo	$144,500	$158	49
1601 Seymour St	0.67mi	2/1.0 (-1)	1,080 (+7%)	6mo	$153,000	$142	48
609 E Spruce St	0.66mi	3/1.5	1,124 (+11%)	2mo	$195,000	$173	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: —
• Equity multiple: 17.76×
• Total profit: $58,657
• Equity at exit: $1,864

10-year hold

• IRR: —
• Equity multiple: 37.93×
• Total profit: $129,272
• Equity at exit: $1,081

Cash invested: $3,500 (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 49783

• Active inventory: 125
• Price-to-rent: 0.8×

Monthly cashflow live

• Estimated rent: $1,315 medium
• Mortgage (P&I): −$66
• Tax est. 1.5%: −$16 /mo · $188/yr
• Insurance: −$5
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $952

Break-even live

Break-even rent $109

Max offer price $12,500

Occupancy floor 23%

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: $3,125
• Closing costs: $375
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
215 Osborn Blvd Sault Ste. Marie, MI	2.0	1.0	994	$1,315	$1.32	44d	2	0.72mi

Listing history 16 events

1. 2026-06-18
   days on market $12,500 Active 50 DOM
2. 2026-06-17
   days on market $12,500 Active 49 DOM
3. 2026-06-16
   days on market $12,500 Active 48 DOM
4. 2026-06-15
   days on market $12,500 Active 47 DOM
5. 2026-06-13
   days on market $12,500 Active 45 DOM
6. 2026-06-12
   days on market $12,500 Active 44 DOM
7. 2026-06-09
   days on market $12,500 Active 41 DOM
8. 2026-06-08
   days on market $12,500 Active 40 DOM
9. 2026-06-07
   days on market $12,500 Active 39 DOM
10. 2026-06-07
    days on market $12,500 Active 38 DOM
11. 2026-06-04
    days on market $12,500 Active 35 DOM
12. 2026-06-02
    days on market $12,500 Active 34 DOM
13. 2026-06-01
    days on market $12,500 Active 33 DOM
14. 2026-05-31
    days on market $12,500 Active 32 DOM
15. 2026-05-31
    days on market $12,500 Active 31 DOM
16. 2026-04-29
    listed $12,500 Active 103-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $15,780
• − Mortgage interest: −$700
• − Property taxes: −$188
• − Insurance: −$62
• − Repairs & maintenance: −$1,262
• − Management: −$1,262
• − Depreciation: −$364
• Taxable income: $11,941
• Est. tax owed @ 24.0%: −$2,866
• After-tax cash flow: $8,564/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: Sault Ste. Marie Area Schools
• NCES district ID: 2630990
• Math proficiency: 35% ▼ -9.00%
• Reading proficiency: 44% ▼ -12.00%
• Median HH income: $40,273
• Composite: 33.12/100
• National rank: #5559
• State rank: #230 of 540 in MI

Livability — Sault Ste. Marie

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Sault Ste. Marie, MI
• Population (ZIP): 18,778

Population outlook (Chippewa County) Hauer SSP2

• Today (2025): 37,043 people
• By 2030: 36,431 · -1.7%
• By 2040: 34,911 · -5.8%
• By 2050: 33,350 · -10.0%
• By 2075: 29,789 · -19.6%
• By 2100: 24,171 · -34.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Native American 14% Two or more races 13% Hispanic / Latino 2%
• Common ancestry: Lithuanian 6% Romanian 6% Slovak 4%
• Foreign-born: 4% · Canada, Vietnam, Guatemala
• Languages at home: 95% English-only · Spanish 1% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Chippewa

• 2024 margin: Strong R (+24.2) · D 37.0% · R 61.3% · Other 1.7%
• 2008→2024 swing: -23.8pp toward R · 2008: -0.5pp · 2024: -24.2pp
• All cycles: 2024: R+24.2 2020: R+22.9 2016: R+24.2 2012: R+7.6 2008: R+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -183.63%
• Current HPI: 149.9878
• 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

1 event — show timeline

• 2026-04-29 Listed $12,500 EUPBR

Property tax history

-4.7%/yr

Latest (2024): $653 · +162.7% YoY. Source: county tax records.