1940 Mullet Ave · Richfield, MI 48656

$59,999

2 bd · 1.0 ba · 620 sqft · SingleFamily public records · 30 Days on market

Built 1955 0.26 ac lot Est $82k · 27% under ↓ 48% since listing

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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 +28.5/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy the Great UP NORTH with this perfectly located Cabin, on a beautiful street. .. .. This cabin is gutted to the studs. .. make this place yours exactly how you want. .. . Would make a great VRBO. .. . close to lakes, boat launches, wild life, restaurants, freeways!!! the attached garage is perfect for the side by side, that are allowed to be driven on public roads!!!! Large lot, great neighborhood. Investor Special!!!! I the Heart of St. Helen. .. ..

Key facts

• Gutted to the studs
• Close to lakes
• Wild life

Tags

• GUTTED TO THE STUDS
• CLOSE TO LAKES
• BOAT LAUNCHES
• WILD LIFE
• HEART OF ST HELEN

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Well water
• Home design: Single family residence; Residential property; Built in 1955
• Construction: Log construction; Asphalt roof
• Exterior features: Paved and unimproved road access; 0.26-acre lot

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Has heating; Other type of heating
• Interior features: Accessible entrance; 4 total rooms; Slab foundation/basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $196 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($821 rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Roscommon Area Public Schools (rural): math 30% / reading 44% proficiency, ranked #270 of 540 in MI (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 73 active listings in the ZIP; 73 units permitted in Roscommon County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Roscommon County population projected at -21% 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 $17k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 3y 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 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $59,099 (1.5% below list)

Questions for the listing agent

1. Built in 1955 — 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. 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.
4. 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.
5. 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: 1.37% ✓
• Cap rate: 10.21%
• Cash-on-cash: 13.98%
• DSCR: 1.62
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $81,840
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1680 Mendota Rd	0.31mi	2/1.0	644 (+4%)	12mo	$55,500	$86	69
9577 W Pleasant Dr	0.42mi	2/1.0	675 (+9%)	12mo	$89,000	$132	56
1431 Saint Clair Ave	0.53mi	2/1.0	560 (-10%)	16mo	$85,000	$152	46
9231 Michigan Ave	0.46mi	2/1.0	560 (-10%)	22mo	$108,000	$193	44
1217 Minet Ct	0.74mi	1/1.0 (-1)	527 (-15%)	7mo	$55,000	$104	30

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: 4.3%
• Equity multiple: 1.17×
• Total profit: $2,778
• Equity at exit: $8,946

10-year hold

• IRR: 13.8%
• Equity multiple: 2.11×
• Total profit: $18,615
• Equity at exit: $5,188

Cash invested: $16,800 (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 48656

• Home prices YoY: -8.6%
• Active inventory: 73
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $821 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$114 /mo · $1,363/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$173
• Net cashflow: $196

Break-even live

Break-even rent $574

Max offer price $59,999

Occupancy floor 71%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 37 events

1. 2026-06-18
   days on market $59,999 Active 30 DOM
2. 2026-06-17
   days on market $59,999 Active 29 DOM
3. 2026-06-16
   days on market $59,999 Active 28 DOM
4. 2026-06-15
   days on market $59,999 Active 27 DOM
5. 2026-06-13
   days on market $59,999 Active 25 DOM
6. 2026-06-12
   days on market $59,999 Active 24 DOM
7. 2026-06-09
   days on market $59,999 Active 21 DOM
8. 2026-06-08
   days on market $59,999 Active 20 DOM
9. 2026-06-07
   days on market $59,999 Active 19 DOM
10. 2026-06-07
    days on market $59,999 Active 18 DOM
11. 2026-06-04
    days on market $59,999 Active 15 DOM
12. 2026-06-02
    days on market $59,999 Active 14 DOM
13. 2026-06-01
    days on market $59,999 Active 13 DOM
14. 2026-05-31
    days on market $59,999 Active 12 DOM
15. 2026-05-31
    days on market $59,999 Active 11 DOM
16. 2026-05-19
    listed $59,999 Active 459-char remark

    Show marketing remark (943 chars)

    Located at 1940 Mullet Street in St. Helen, Michigan, this property offers excellent potential for investors, renovators, or buyers looking for an affordable Up North getaway with room to add value. Conveniently situated near downtown St. Helen and close to area lakes, trails, and outdoor recreation, this home is perfectly positioned for a future rental property, vacation retreat, or weekend escape. The home features two bedrooms and charming knotty pine interior accents that bring classic Northern Michigan cabin character. Sitting on a large lot, the property also includes a garage with ample space to store a side-by-side, recreational vehicles, or outdoor equipment -- ideal for enjoying the area's year-round trail systems and outdoor activities. While the property does need remodeling and updates, it presents a strong opportunity for someone looking to create equity and transform it into a desirable rental or seasonal property.

17. 2026-05-19
    listed $59,999 Active 943-char remark

    Show marketing remark (943 chars)

    Located at 1940 Mullet Street in St. Helen, Michigan, this property offers excellent potential for investors, renovators, or buyers looking for an affordable Up North getaway with room to add value. Conveniently situated near downtown St. Helen and close to area lakes, trails, and outdoor recreation, this home is perfectly positioned for a future rental property, vacation retreat, or weekend escape. The home features two bedrooms and charming knotty pine interior accents that bring classic Northern Michigan cabin character. Sitting on a large lot, the property also includes a garage with ample space to store a side-by-side, recreational vehicles, or outdoor equipment -- ideal for enjoying the area's year-round trail systems and outdoor activities. While the property does need remodeling and updates, it presents a strong opportunity for someone looking to create equity and transform it into a desirable rental or seasonal property.

18. 2026-05-19
    listed $59,999 Active

    Show marketing remark (943 chars)

    Located at 1940 Mullet Street in St. Helen, Michigan, this property offers excellent potential for investors, renovators, or buyers looking for an affordable Up North getaway with room to add value. Conveniently situated near downtown St. Helen and close to area lakes, trails, and outdoor recreation, this home is perfectly positioned for a future rental property, vacation retreat, or weekend escape. The home features two bedrooms and charming knotty pine interior accents that bring classic Northern Michigan cabin character. Sitting on a large lot, the property also includes a garage with ample space to store a side-by-side, recreational vehicles, or outdoor equipment -- ideal for enjoying the area's year-round trail systems and outdoor activities. While the property does need remodeling and updates, it presents a strong opportunity for someone looking to create equity and transform it into a desirable rental or seasonal property.

19. 2026-05-19
    historical

    Show marketing remark (943 chars)

    Located at 1940 Mullet Street in St. Helen, Michigan, this property offers excellent potential for investors, renovators, or buyers looking for an affordable Up North getaway with room to add value. Conveniently situated near downtown St. Helen and close to area lakes, trails, and outdoor recreation, this home is perfectly positioned for a future rental property, vacation retreat, or weekend escape. The home features two bedrooms and charming knotty pine interior accents that bring classic Northern Michigan cabin character. Sitting on a large lot, the property also includes a garage with ample space to store a side-by-side, recreational vehicles, or outdoor equipment -- ideal for enjoying the area's year-round trail systems and outdoor activities. While the property does need remodeling and updates, it presents a strong opportunity for someone looking to create equity and transform it into a desirable rental or seasonal property.

20. 2026-05-19
    listed $59,999 Active

    Show marketing remark (943 chars)

    Located at 1940 Mullet Street in St. Helen, Michigan, this property offers excellent potential for investors, renovators, or buyers looking for an affordable Up North getaway with room to add value. Conveniently situated near downtown St. Helen and close to area lakes, trails, and outdoor recreation, this home is perfectly positioned for a future rental property, vacation retreat, or weekend escape. The home features two bedrooms and charming knotty pine interior accents that bring classic Northern Michigan cabin character. Sitting on a large lot, the property also includes a garage with ample space to store a side-by-side, recreational vehicles, or outdoor equipment -- ideal for enjoying the area's year-round trail systems and outdoor activities. While the property does need remodeling and updates, it presents a strong opportunity for someone looking to create equity and transform it into a desirable rental or seasonal property.

21. 2026-05-19
    listed $59,999 Active

    Show marketing remark (943 chars)

    Located at 1940 Mullet Street in St. Helen, Michigan, this property offers excellent potential for investors, renovators, or buyers looking for an affordable Up North getaway with room to add value. Conveniently situated near downtown St. Helen and close to area lakes, trails, and outdoor recreation, this home is perfectly positioned for a future rental property, vacation retreat, or weekend escape. The home features two bedrooms and charming knotty pine interior accents that bring classic Northern Michigan cabin character. Sitting on a large lot, the property also includes a garage with ample space to store a side-by-side, recreational vehicles, or outdoor equipment -- ideal for enjoying the area's year-round trail systems and outdoor activities. While the property does need remodeling and updates, it presents a strong opportunity for someone looking to create equity and transform it into a desirable rental or seasonal property.

22. 2025-12-10
    historical
23. 2025-11-30
    historical
24. 2025-05-20
    price $69,000
25. 2025-05-19
    price $69,000
26. 2025-05-02
    price $60,000
27. 2025-05-02
    price $60,000
28. 2025-02-18
    historical
29. 2025-01-28
    listed $70,000 Active
30. 2025-01-28
    listed $70,000 Active
31. 2024-08-26
    listed $70,000 Active
32. 2024-08-26
    listed $70,000 Active
33. 2023-12-31
    historical
34. 2023-12-30
    historical
35. 2023-07-19
    listed $116,000 Active
36. 2023-07-19
    listed $116,000 Active
37. 2023-07-19
    listed $116,000 Active

ⓘ 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: $1,363 · $114/mo
• Projected year-2 tax: $1,363 · $114/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 12% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥93°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,857
• − Mortgage interest: −$3,361
• − Property taxes: −$1,363
• − Insurance: −$300
• − Repairs & maintenance: −$789
• − Management: −$789
• − Depreciation: −$1,745
• Taxable income: $1,511
• Est. tax owed @ 24.0%: −$363
• After-tax cash flow: $1,986/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: Roscommon Area Public Schools
• NCES district ID: 2615830
• Math proficiency: 30% ▼ -11.00%
• Reading proficiency: 44% ▼ -2.00%
• Median HH income: $36,914
• Composite: 30.7/100
• National rank: #6172
• State rank: #270 of 540 in MI

Livability — Richfield

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

Census & demographics

• Census place: St. Helen, MI
• Population (ZIP): 3,872

Population outlook (Roscommon County) Hauer SSP2

• Today (2025): 22,249 people
• By 2030: 21,206 · -4.7%
• By 2040: 19,070 · -14.3%
• By 2050: 17,564 · -21.1%
• By 2075: 15,420 · -30.7%
• By 2100: 13,168 · -40.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 2% Black 1% Asian 1%
• Common ancestry: Lithuanian 7% Romanian 7% Slovak 3%
• Foreign-born: 2% · China
• Languages at home: 97% English-only · Spanish 1% Chinese 1% German/W. Germanic 1%

Political lean MEDSL · Roscommon

• 2024 margin: Solid R (+32.9) · D 32.9% · R 65.9% · Other 1.2%
• 2008→2024 swing: -35.5pp toward R · 2008: 2.5pp · 2024: -32.9pp
• All cycles: 2024: R+32.9 2020: R+30.0 2016: R+29.6 2012: R+3.9 2008: D+2.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -29.98%
• Current HPI: 319.603
• 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

-48.3% since first listed

22 events — show timeline

• 2026-05-19 Listed $59,999 SW Michigan MLS
• 2026-05-19 Listed $59,999 REALCOMP
• 2026-05-19 Listing Removed — REALCOMP
• 2026-05-19 Listed $59,999 REALCOMP
• 2026-05-19 Listed $59,999 MiRealSource-MiMLS
• 2026-05-19 Listed $59,999 MiRealSource-MiMLS
• 2025-12-10 Listing Removed — MiRealSource-MiMLS
• 2025-11-30 Listing Removed — MiRealSource-MiMLS
• 2025-05-20 Price Changed $69,000 MiRealSource-MiMLS
• 2025-05-19 Price Changed $69,000 REALCOMP
• 2025-05-02 Price Changed $60,000 MiRealSource-MiMLS
• 2025-05-02 Price Changed $60,000 REALCOMP
• 2025-02-18 Listing Removed — REALCOMP
• 2025-01-28 Listed $70,000 REALCOMP
• 2025-01-28 Listed $70,000 MiRealSource-MiMLS
• 2024-08-26 Listed $70,000 REALCOMP
• 2024-08-26 Listed $70,000 MiRealSource-MiMLS
• 2023-12-31 Listing Removed — MiRealSource-MiMLS
• 2023-12-30 Listing Removed — REALCOMP
• 2023-07-19 Listed $116,000 MiRealSource-MiMLS
• 2023-07-19 Listed $116,000 WWMLS
• 2023-07-19 Listed $116,000 REALCOMP

Property tax history

+6.3%/yr

Latest (2025): $1,363 · +2.6% YoY. Source: county tax records.