975 Boshaw Dr · Attica, MI 48412

$59,900

1 bd · 1.0 ba · 1,296 sqft · Other public records · 37 Days on market

Built 1950

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for the perfect getaway or year-round residence? Check out this Charming home with deeded access to All-Sports Lake Pleasant! Enjoy a private park-like beach with designated swim area & community boat launch - ideal for boating, fishing, and summer fun! Just 3 miles from I-69 & major roads for easy commute. Close to state land, golf courses, Dupont Airport & Sportsman's Club. Sale is for home only – property is on leased land at $1,100/year. Home has Natural Gas and is currently heated with a plumped-in Floor Unit Heater. Seller willing to include a new heating unit that is still boxed, but hasn't been installed, with an acceptable offer. Appliances included! Don't miss this affordable opportunity to enjoy all-season fun and the Lake Pleasant lifestyle!

Key facts

• Deeded access
• Designated swim area
• Appliances included

Tags

• DEEDED ACCESS
• PRIVATE PARK-LIKE BEACH
• DESIGNATED SWIM AREA
• COMMUNITY BOAT LAUNCH
• NATURAL GAS
• APPLIANCES INCLUDED

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath other listed at $60k.

Deal economics

• At list price, monthly cash flow is $465 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.6% vs local median 1.8% in Attica — 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 70/100 on livability (#320 in MI) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: schools C-, amenities F, commute F.
• Imlay City Community Schools (town): math 31% / reading 47% proficiency, ranked #224 of 540 in MI (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 36 active listings in the ZIP; 152 units permitted in Lapeer County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Lapeer 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 $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 30y 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.
• Current owner paid $35k; list at $60k implies a 71% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $58,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 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 1950 — 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. 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.
5. 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.
6. 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: 1.76% ✓
• Cap rate: 15.60%
• Cash-on-cash: 33.24%
• DSCR: 2.48
• GRM: 4.7

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: 28.4%
• Equity multiple: 2.18×
• Total profit: $19,866
• Equity at exit: $8,931

10-year hold

• IRR: 35.9%
• Equity multiple: 4.30×
• Total profit: $55,341
• Equity at exit: $5,179

Cash invested: $16,772 (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 48412

• Active inventory: 36
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,052 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$28 /mo · $331/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $465

Break-even live

Break-even rent $464

Max offer price $59,900

Occupancy floor 51%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-03-10
   status Pending 808-char remark

   Show marketing remark (808 chars)

   Looking for the perfect getaway or year-round residence? Check out this Charming home with deeded access to All-Sports Lake Pleasant! Enjoy a private park-like beach with designated swim area & community boat launch - ideal for boating, fishing, and summer fun! Just 3 miles from I-69 & major roads for easy commute. Close to state land, golf courses, Dupont Airport & Sportsman's Club. Sale is for home only – property is on leased land at $1,100/year. Home has Natural Gas and is currently heated with a plumped-in Floor Unit Heater. Seller willing to include a new heating unit that is still boxed, but hasn't been installed, with an acceptable offer. Appliances included! Don't miss this affordable opportunity to enjoy all-season fun and the Lake Pleasant lifestyle!

2. 2026-03-10
   status Pending

   Show marketing remark (808 chars)

   Looking for the perfect getaway or year-round residence? Check out this Charming home with deeded access to All-Sports Lake Pleasant! Enjoy a private park-like beach with designated swim area & community boat launch - ideal for boating, fishing, and summer fun! Just 3 miles from I-69 & major roads for easy commute. Close to state land, golf courses, Dupont Airport & Sportsman's Club. Sale is for home only – property is on leased land at $1,100/year. Home has Natural Gas and is currently heated with a plumped-in Floor Unit Heater. Seller willing to include a new heating unit that is still boxed, but hasn't been installed, with an acceptable offer. Appliances included! Don't miss this affordable opportunity to enjoy all-season fun and the Lake Pleasant lifestyle!

3. 2026-02-01
   listed $59,900 Active

   Show marketing remark (808 chars)

   Looking for the perfect getaway or year-round residence? Check out this Charming home with deeded access to All-Sports Lake Pleasant! Enjoy a private park-like beach with designated swim area & community boat launch - ideal for boating, fishing, and summer fun! Just 3 miles from I-69 & major roads for easy commute. Close to state land, golf courses, Dupont Airport & Sportsman's Club. Sale is for home only – property is on leased land at $1,100/year. Home has Natural Gas and is currently heated with a plumped-in Floor Unit Heater. Seller willing to include a new heating unit that is still boxed, but hasn't been installed, with an acceptable offer. Appliances included! Don't miss this affordable opportunity to enjoy all-season fun and the Lake Pleasant lifestyle!

4. 2026-02-01
   listed $59,900 Active 808-char remark

   Show marketing remark (808 chars)

   Looking for the perfect getaway or year-round residence? Check out this Charming home with deeded access to All-Sports Lake Pleasant! Enjoy a private park-like beach with designated swim area & community boat launch - ideal for boating, fishing, and summer fun! Just 3 miles from I-69 & major roads for easy commute. Close to state land, golf courses, Dupont Airport & Sportsman's Club. Sale is for home only – property is on leased land at $1,100/year. Home has Natural Gas and is currently heated with a plumped-in Floor Unit Heater. Seller willing to include a new heating unit that is still boxed, but hasn't been installed, with an acceptable offer. Appliances included! Don't miss this affordable opportunity to enjoy all-season fun and the Lake Pleasant lifestyle!

5. 2026-02-01
   historical

   Show marketing remark (808 chars)

   Looking for the perfect getaway or year-round residence? Check out this Charming home with deeded access to All-Sports Lake Pleasant! Enjoy a private park-like beach with designated swim area & community boat launch - ideal for boating, fishing, and summer fun! Just 3 miles from I-69 & major roads for easy commute. Close to state land, golf courses, Dupont Airport & Sportsman's Club. Sale is for home only – property is on leased land at $1,100/year. Home has Natural Gas and is currently heated with a plumped-in Floor Unit Heater. Seller willing to include a new heating unit that is still boxed, but hasn't been installed, with an acceptable offer. Appliances included! Don't miss this affordable opportunity to enjoy all-season fun and the Lake Pleasant lifestyle!

6. 2026-02-01
   historical

   Show marketing remark (808 chars)

   Looking for the perfect getaway or year-round residence? Check out this Charming home with deeded access to All-Sports Lake Pleasant! Enjoy a private park-like beach with designated swim area & community boat launch - ideal for boating, fishing, and summer fun! Just 3 miles from I-69 & major roads for easy commute. Close to state land, golf courses, Dupont Airport & Sportsman's Club. Sale is for home only – property is on leased land at $1,100/year. Home has Natural Gas and is currently heated with a plumped-in Floor Unit Heater. Seller willing to include a new heating unit that is still boxed, but hasn't been installed, with an acceptable offer. Appliances included! Don't miss this affordable opportunity to enjoy all-season fun and the Lake Pleasant lifestyle!

7. 2025-11-06
   price $65,000
8. 2025-11-05
   price $65,000
9. 2025-07-10
   listed $75,000 Active
10. 2025-07-10
    listed $75,000 Active
11. 2018-10-23
    soldstatus $35,000 Sold
12. 2018-09-18
    status Pending
13. 2018-09-18
    status Pending
14. 2018-09-04
    listed $40,000 Active
15. 2018-09-04
    listed $40,000 Active
16. 2011-04-18
    historical
17. 2011-04-18
    historical
18. 2011-04-18
    historical
19. 2011-04-08
    listed $35,000
20. 2011-04-08
    listed $35,000
21. 2011-04-08
    listed $35,000
22. 2005-08-11
    soldstatus $43,000
23. 2005-07-23
    listed $47,900
24. 1996-09-08
    historical
25. 1996-06-16
    listed $34,900

ⓘ 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: $331 · $28/mo
• Projected year-2 tax: $627 · $52/mo
• Expected delta: +$296/yr (+$25/mo · 89.3%)

ⓘ 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 ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,626
• − Mortgage interest: −$3,355
• − Property taxes: −$331
• − Insurance: −$300
• − Repairs & maintenance: −$1,010
• − Management: −$1,010
• − Depreciation: −$1,743
• Taxable income: $4,877
• Est. tax owed @ 24.0%: −$1,170
• After-tax cash flow: $4,404/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: Imlay City Community Schools
• NCES district ID: 2619100
• Math proficiency: 31% ▼ -2.00%
• Reading proficiency: 47% ▼ -1.00%
• Median HH income: $48,993
• Composite: 33.51/100
• National rank: #5439
• State rank: #224 of 540 in MI

Livability — Attica

• Score: 70/100
• State rank: #320
• US rank: #7893

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,780

Population outlook (Lapeer County) Hauer SSP2

• Today (2025): 89,826 people
• By 2030: 89,535 · -0.3%
• By 2040: 86,695 · -3.5%
• By 2050: 80,566 · -10.3%
• By 2075: 65,783 · -26.8%
• By 2100: 46,584 · -48.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 4%
• Common ancestry: Romanian 7% Slovak 5% Lithuanian 4%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Lapeer

• 2024 margin: Solid R (+39.8) · D 29.5% · R 69.3% · Other 1.3%
• 2008→2024 swing: -36.8pp toward R · 2008: -3.0pp · 2024: -39.8pp
• All cycles: 2024: R+39.8 2020: R+36.3 2016: R+38.3 2012: R+11.5 2008: R+3.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -127.28%
• Current HPI: 225.9233
• 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

+71.6% since first listed

25 events — show timeline

• 2026-03-10 Pending — MiRealSource-MiMLS
• 2026-03-10 Pending — REALCOMP
• 2026-02-01 Listed $59,900 REALCOMP
• 2026-02-01 Listing Removed — MiRealSource-MiMLS
• 2026-02-01 Listing Removed — REALCOMP
• 2026-02-01 Listed $59,900 MiRealSource-MiMLS
• 2025-11-06 Price Changed $65,000 MiRealSource-MiMLS
• 2025-11-05 Price Changed $65,000 REALCOMP
• 2025-07-10 Listed $75,000 MiRealSource-MiMLS
• 2025-07-10 Listed $75,000 REALCOMP
• 2018-10-23 Sold (MLS) $35,000 REALCOMP
• 2018-09-18 Pending — MiRealSource-MiMLS
• 2018-09-18 Pending — REALCOMP
• 2018-09-04 Listed $40,000 MiRealSource-MiMLS
• 2018-09-04 Listed $40,000 REALCOMP
• 2011-04-18 Listing Removed — MiRealSource-MiMLS
• 2011-04-18 Listing Removed — MiRealSource-MiMLS
• 2011-04-18 Listing Removed — REALCOMP
• 2011-04-08 Listed $35,000 MiRealSource-MiMLS
• 2011-04-08 Listed $35,000 MiRealSource-MiMLS
• 2011-04-08 Listed $35,000 REALCOMP
• 2005-08-11 Sold (MLS) $43,000 REALCOMP
• 2005-07-23 Listed $47,900 REALCOMP
• 1996-09-08 Listing Removed — REALCOMP
• 1996-06-16 Listed $34,900 REALCOMP

Property tax history

-4.1%/yr

Latest (2023): $331 · -43.0% YoY. Source: county tax records.