100 & 102 S Bullock St · Whittemore, MI 48770

$99,000

2 bd · 1.0 ba · 1,260 sqft · SingleFamily · 111 Days on market

Built 1964 Fair condition 7,405 sqft lot $79/sqft · 5% above area Est $94k · 5% over ↓ 12% since listing

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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 +21.7/30.0
• DSCR +6.9/10.0
• 1% rule +5.7/10.0
• Appreciation +5.6/10.0
• ARV discount +5.2/15.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.4/10.0

Listing remarks MLS

Motivated Seller! Want rental income? Check! Want a business and live next door? Check Want your business on a high traffic highway? Check This gem has it all. 2 bedroom home to make some money or live in. Comes with appliances and a yard space in town. Business opportunity for small engine repair, car sales, or make a store front, you name it. You could just use as a garage for your residence. This building has bathroom and an office. Ample parking, insulated and heated for many options. Tons of potential. May offer sellers concessions or owner financing.

Key facts

• Business opportunity
• Appliances
• Bathroom

Tags

• RENTAL INCOME
• BUSINESS OPPORTUNITY
• HIGH TRAFFIC HIGHWAY
• APPLIANCES
• YARD SPACE
• BATHROOM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $99k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $153 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $90k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 57/100 on livability (#644 in MI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools F, crime F.
• Whittemore-Prescott Area Schools (rural): math 11% / reading 25% proficiency, ranked #488 of 540 in MI (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 14 active listings in the ZIP; 58 units permitted in Iosco County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($684 loan paydown + $1k appreciation (1.1% local appreciation)).
• Iosco County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.1% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 111 days — a 9% lower offer ($90k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $16k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $90,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. 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.
9. 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.
10. 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: 1.07% ✓
• Cap rate: 8.15%
• Cash-on-cash: 6.63%
• DSCR: 1.29
• GRM: 7.8

CMA / ARV

• ARV (median comp): $94,092
• List price: $99,000
• Delta: 5.22%
• Verdict: FAIR
• Comps: 13 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
200 E State	0.24mi	3/1.5 (+1)	1,300 (+3%)	12mo	$175,000	$135	66
114 E State St	0.23mi	3/1.0 (+1)	1,105 (-12%)	9mo	$112,500	$102	56
213 E State	0.25mi	2/1.0	1,120 (-11%)	20mo	$48,000	$43	53
213 E State	0.25mi	2/1.0	1,120 (-11%)	20mo	$48,000	$43	53
1789 S M 65	0.60mi	3/1.5 (+1)	1,414 (+12%)	11mo	$148,400	$105	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.15% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.7%
• Equity multiple: 1.45×
• Total profit: $12,336
• Equity at exit: $34,563

10-year hold

• IRR: 12.5%
• Equity multiple: 2.55×
• Total profit: $42,842
• Equity at exit: $46,530

Cash invested: $27,720 (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 48770

• Home prices YoY: 0.5%
• Active inventory: 14
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,060 medium
• Mortgage (P&I): −$519
• Tax est. 1.5%: −$124 /mo · $1,485/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $153

Break-even live

Break-even rent $866

Max offer price $99,000

Occupancy floor 81%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $99,000 Active 111 DOM
2. 2026-06-17
   remarks 607-char remark
3. 2026-06-17
   price $99,000 Active 110 DOM
4. 2026-06-17
   days on market $105,000 Active 110 DOM
5. 2026-06-16
   days on market $105,000 Active 109 DOM
6. 2026-06-15
   days on market $105,000 Active 108 DOM
7. 2026-06-13
   days on market $105,000 Active 106 DOM
8. 2026-06-12
   days on market $105,000 Active 105 DOM
9. 2026-06-09
   days on market $105,000 Active 102 DOM
10. 2026-06-08
    days on market $105,000 Active 101 DOM
11. 2026-06-07
    days on market $105,000 Active 100 DOM
12. 2026-06-07
    days on market $105,000 Active 99 DOM
13. 2026-06-04
    days on market $105,000 Active 96 DOM
14. 2026-06-02
    days on market $105,000 Active 95 DOM
15. 2026-06-01
    days on market $105,000 Active 94 DOM
16. 2026-05-31
    days on market $105,000 Active 93 DOM
17. 2026-05-31
    days on market $105,000 Active 92 DOM
18. 2026-04-24
    price $110,000 562-char remark

    Show marketing remark (562 chars)

    Motivated Seller! Want rental income? Check! Want a business and live next door? Check Want your business on a high traffic highway? Check This gem has it all. 2 bedroom home to make some money or live in. Comes with appliances and a yard space in town. Business opportunity for small engine repair, car sales, or make a store front, you name it. You could just use as a garage for your residence. This building has bathroom and an office. Ample parking, insulated and heated for many options. Tons of potential. May offer sellers concessions or owner financing.

19. 2026-04-24
    price $110,000 562-char remark

    Show marketing remark (562 chars)

    Motivated Seller! Want rental income? Check! Want a business and live next door? Check Want your business on a high traffic highway? Check This gem has it all. 2 bedroom home to make some money or live in. Comes with appliances and a yard space in town. Business opportunity for small engine repair, car sales, or make a store front, you name it. You could just use as a garage for your residence. This building has bathroom and an office. Ample parking, insulated and heated for many options. Tons of potential. May offer sellers concessions or owner financing.

20. 2026-02-27
    listed $115,000 Active 562-char remark

    Show marketing remark (562 chars)

    Motivated Seller! Want rental income? Check! Want a business and live next door? Check Want your business on a high traffic highway? Check This gem has it all. 2 bedroom home to make some money or live in. Comes with appliances and a yard space in town. Business opportunity for small engine repair, car sales, or make a store front, you name it. You could just use as a garage for your residence. This building has bathroom and an office. Ample parking, insulated and heated for many options. Tons of potential. May offer sellers concessions or owner financing.

21. 2026-02-27
    listed $115,000 Active 562-char remark

    Show marketing remark (562 chars)

    Motivated Seller! Want rental income? Check! Want a business and live next door? Check Want your business on a high traffic highway? Check This gem has it all. 2 bedroom home to make some money or live in. Comes with appliances and a yard space in town. Business opportunity for small engine repair, car sales, or make a store front, you name it. You could just use as a garage for your residence. This building has bathroom and an office. Ample parking, insulated and heated for many options. Tons of potential. May offer sellers concessions or owner financing.

22. 2025-12-10
    historical
23. 2025-12-10
    historical
24. 2025-06-19
    listed $124,900 Active
25. 2025-06-19
    listed $124,900 Active

ⓘ 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: $12,717
• − Mortgage interest: −$5,546
• − Property taxes: −$1,485
• − Insurance: −$495
• − Repairs & maintenance: −$1,017
• − Management: −$1,017
• − Depreciation: −$2,880
• Taxable income: $277
• Est. tax owed @ 24.0%: −$66
• After-tax cash flow: $1,770/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This property has moderate rehabilitation needs, primarily in the kitchen and bathroom. Upgrading these areas will significantly increase its value for both resale and rental purposes.

Repairs flagged

• Major kitchen cabinets — severely worn and outdated
• Major kitchen countertops — damaged and worn
• Major bathroom tile — dated and in poor condition
• Moderate exterior siding — weathered and cracked
• Moderate concrete driveway — cracked and uneven

Value-add opportunities

• Both update kitchen cabinets and countertops — modernizing the kitchen will increase both resale and rental value
• Both replace bathroom tile — modernizing the bathroom will increase both resale and rental value
• Both repair and paint exterior siding — improving the exterior will increase both resale and rental value
• Both repair and resurface driveway — improving the driveway will increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · severely worn and outdated	Major	$15,000–50,000
kitchen countertops · damaged and worn	Major	$15,000–50,000
bathroom tile · dated and in poor condition	Major	$15,000–50,000
exterior siding · weathered and cracked	Moderate	$3,000–15,000
concrete driveway · cracked and uneven	Moderate	$3,000–15,000
Total estimated repair cost · 5 items		$51,000–180,000

Value-add ROI direction

• Both update kitchen cabinets and countertops — modernizing the kitchen will increase both resale and rental value ↑
• Both replace bathroom tile — modernizing the bathroom will increase both resale and rental value ↑
• Both repair and paint exterior siding — improving the exterior will increase both resale and rental value ↑
• Both repair and resurface driveway — improving the driveway will increase both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Whittemore-Prescott Area Schools
• NCES district ID: 2636390
• Math proficiency: 11% ▼ -12.00%
• Reading proficiency: 25% ▼ -11.00%
• Median HH income: $30,244
• Composite: 14.31/100
• National rank: #9442
• State rank: #488 of 540 in MI

Livability — Whittemore

• Score: 57/100
• State rank: #644
• US rank: #21854

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

• Census place: Whittemore, MI
• Population (ZIP): 1,908

Population outlook (Iosco County) Hauer SSP2

• Today (2025): 24,366 people
• By 2030: 23,622 · -3.1%
• By 2040: 22,021 · -9.6%
• By 2050: 20,877 · -14.3%
• By 2075: 18,792 · -22.9%
• By 2100: 15,465 · -36.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Lithuanian 5% Romanian 3% German 2%
• Foreign-born: 0%
• Languages at home: 96% English-only · German/W. Germanic 3% Chinese 1%

Political lean MEDSL · Iosco

• 2024 margin: Solid R (+30.6) · D 34.0% · R 64.5% · Other 1.5%
• 2008→2024 swing: -35.7pp toward R · 2008: 5.1pp · 2024: -30.6pp
• All cycles: 2024: R+30.6 2020: R+28.6 2016: R+30.0 2012: R+5.0 2008: D+5.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.15%
• Current HPI: 221.4532
• 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

-11.9% since first listed

8 events — show timeline

• 2026-04-24 Price Changed $110,000 MiRealSource-MiMLS
• 2026-04-24 Price Changed $110,000 REALCOMP
• 2026-02-27 Listed $115,000 REALCOMP
• 2026-02-27 Listed $115,000 MiRealSource-MiMLS
• 2025-12-10 Listing Removed — MiRealSource-MiMLS
• 2025-12-10 Listing Removed — REALCOMP
• 2025-06-19 Listed $124,900 MiRealSource-MiMLS
• 2025-06-19 Listed $124,900 REALCOMP