110 W Carl St · Hanover, MI 49620

$184,900

3 bd · 2.0 ba · 1,400 sqft · SingleFamily · 51 Days on market

Built 1945 0.40 ac lot Est $300k · 38% under

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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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +9.2/30.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0

Listing remarks MLS

Come see our NEW Look!! Fresh paint, new vinyl laminate floors in 5 rooms and ceiling tiles fixed!! 3 Bed 2 bath 1400 sq ft home in Buckley with carport, garage and large pole barn on 3 1/2 lots. Huge yard with fruit trees and flowering shrubs and garden area. Larger polebarn has plenty of room for 2 vehicles in front section and back is divided into workshop area and large room that was once an artist studio for display and classes, What would use it for? . Don't wait to check this one out!!

Key facts

• Large yard
• Convenient location
• Finished area

Tags

• 40X24 POLE BUILDING
• FINISHED AREA
• LARGE YARD
• CONVENIENT LOCATION

Property features AI

Exterior

• Parking: Garage parking available; Detached garage and carport; Three parking spaces in garage
• Utilities: Public water; Septic system; LP/Propane fuel; Baseboard heating
• Home design: Residential single-story home; Built in 1945; First Addition Buckley subdivision; Municipality: Hanover Township; Facing/entry details not provided
• Construction: Vinyl siding exterior; Foundation: crawl space and slab; Year built: 1945
• Exterior features: Vinyl siding; Pole barn (outbuilding); Property located in a subdivision

Interior

• Kitchen: Dishwasher; Range/Oven; Refrigerator; Kitchen on main level (approx. 20 x 11)
• Bedrooms: Main-level bedrooms (3): approx. 12 x 11; 12 x 9; one bedroom ~8' wide
• Bathrooms: Two full bathrooms, including a primary bath
• Heating & cooling: Baseboard heating; LP/Propane gas fuel
• Interior features: Pantry
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $-139 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $160k (13.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $127k (31.3% below list).
• Recommended offer: $127k (31.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#497 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, employment D+, crime D-.
• Buckley Community Schools (rural): math 33% / reading 39% proficiency, ranked #267 of 540 in MI (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 39 active listings in the ZIP; 130 units permitted in Wexford County in 2024 (50 in 5+ unit buildings).

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Wexford County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 25y ago; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $136k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,020 (31.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is D 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.69% ✗
• Cap rate: 5.39%
• Cash-on-cash: -3.22%
• DSCR: 0.86
• GRM: 12.1

CMA / ARV

• ARV (on-the-fly): $299,600
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
315 N First St	0.09mi	3/1.0	1,350 (-4%)	3mo	$235,000	$174	83
107 E Carl St	0.07mi	3/1.0	1,473 (+5%)	19mo	$220,000	$149	68
5051 W County Line Rd	0.47mi	3/2.0	1,376 (-2%)	10mo	$310,000	$225	67
11189 Lakeshore Dr	0.40mi	3/2.0	1,563 (+12%)	12mo	$355,000	$227	51
284 Cayo Dr	0.53mi	3/2.0	1,472 (+5%)	19mo	$315,000	$214	51
11941 S M-37	0.66mi	3/2.0	1,550 (+11%)	15mo	$210,785	$136	39

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.0%
• Equity multiple: 2.77×
• Total profit: $91,776
• Equity at exit: $166,573

10-year hold

• IRR: 19.7%
• Equity multiple: 6.35×
• Total profit: $277,107
• Equity at exit: $359,220

Cash invested: $51,772 (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 49620

• Active inventory: 39
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $1,270 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$96 /mo · $1,151/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $-139

Break-even live

Break-even rent $1,446

Max offer price $160,321

Occupancy floor —

Sensitivity live

Price	-10% $-34	-5% $-87	+0% $-139	+5% $-191	+10% $-244
Rent	-10% $-239	-5% $-189	+0% $-139	+5% $-89	+10% $-39
Rate	-1.0pp $-46	-0.5pp $-92	base $-139	+0.5pp $-187	+1.0pp $-236

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-21
   days on market $184,900 Active 51 DOM
2. 2026-06-21
   days on market $184,900 Active 50 DOM
3. 2026-06-18
   days on market $184,900 Active 48 DOM
4. 2026-06-17
   days on market $184,900 Active 47 DOM
5. 2026-06-16
   days on market $184,900 Active 46 DOM
6. 2026-06-15
   days on market $184,900 Active 45 DOM
7. 2026-06-13
   days on market $184,900 Active 43 DOM
8. 2026-06-12
   pricedays on market $184,900 Active 42 DOM
9. 2026-06-09
   days on market $199,900 Active 39 DOM
10. 2026-06-08
    days on market $199,900 Active 38 DOM
11. 2026-06-07
    days on market $199,900 Active 37 DOM
12. 2026-06-07
    days on market $199,900 Active 36 DOM
13. 2026-06-04
    days on market $199,900 Active 33 DOM
14. 2026-06-02
    days on market $199,900 Active 32 DOM
15. 2026-06-01
    days on market $199,900 Active 31 DOM
16. 2026-05-31
    days on market $199,900 Active 30 DOM
17. 2026-05-31
    days on market $199,900 Active 29 DOM
18. 2026-05-01
    listed $199,900 Active
19. 2022-10-14
    soldstatus $136,000 Closed 497-char remark

    Show marketing remark (497 chars)

    Come see our NEW Look!! Fresh paint, new vinyl laminate floors in 5 rooms and ceiling tiles fixed!! 3 Bed 2 bath 1400 sq ft home in Buckley with carport, garage and large pole barn on 3 1/2 lots. Huge yard with fruit trees and flowering shrubs and garden area. Larger polebarn has plenty of room for 2 vehicles in front section and back is divided into workshop area and large room that was once an artist studio for display and classes, What would use it for? . Don't wait to check this one out!!

20. 2022-10-14
    soldstatus $136,000

    Show marketing remark (497 chars)

    Come see our NEW Look!! Fresh paint, new vinyl laminate floors in 5 rooms and ceiling tiles fixed!! 3 Bed 2 bath 1400 sq ft home in Buckley with carport, garage and large pole barn on 3 1/2 lots. Huge yard with fruit trees and flowering shrubs and garden area. Larger polebarn has plenty of room for 2 vehicles in front section and back is divided into workshop area and large room that was once an artist studio for display and classes, What would use it for? . Don't wait to check this one out!!

21. 2022-10-07
    listed Accepting Backup Offers 497-char remark

    Show marketing remark (497 chars)

    Come see our NEW Look!! Fresh paint, new vinyl laminate floors in 5 rooms and ceiling tiles fixed!! 3 Bed 2 bath 1400 sq ft home in Buckley with carport, garage and large pole barn on 3 1/2 lots. Huge yard with fruit trees and flowering shrubs and garden area. Larger polebarn has plenty of room for 2 vehicles in front section and back is divided into workshop area and large room that was once an artist studio for display and classes, What would use it for? . Don't wait to check this one out!!

22. 2022-05-20
    listed $130,000 497-char remark

    Show marketing remark (497 chars)

    Come see our NEW Look!! Fresh paint, new vinyl laminate floors in 5 rooms and ceiling tiles fixed!! 3 Bed 2 bath 1400 sq ft home in Buckley with carport, garage and large pole barn on 3 1/2 lots. Huge yard with fruit trees and flowering shrubs and garden area. Larger polebarn has plenty of room for 2 vehicles in front section and back is divided into workshop area and large room that was once an artist studio for display and classes, What would use it for? . Don't wait to check this one out!!

23. 2014-04-02
    historical
24. 2013-04-02
    listed $74,900
25. 2002-05-02
    historical
26. 2001-11-02
    listed $94,900
27. 1997-08-26
    soldstatus $58,750

ⓘ 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: $1,151 · $96/mo
• Projected year-2 tax: $1,999 · $167/mo
• Expected delta: +$848/yr (+$71/mo · 73.7%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥93°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,242
• − Mortgage interest: −$10,357
• − Property taxes: −$1,151
• − Insurance: −$924
• − Repairs & maintenance: −$1,219
• − Management: −$1,219
• − Depreciation: −$5,379
• Taxable loss: −$5,008
• Est. tax savings @ 24.0%: +$1,202
• After-tax cash flow: $-468/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: Buckley Community Schools
• NCES district ID: 2607170
• Math proficiency: 33% ▼ -5.00%
• Reading proficiency: 39% ▼ -2.00%
• Median HH income: $47,974
• Composite: 30.97/100
• National rank: #6101
• State rank: #267 of 540 in MI

Livability — Hanover

• Score: 64/100
• State rank: #497
• US rank: #14672

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Buckley, MI
• Population (ZIP): 2,859

Population outlook (Wexford County) Hauer SSP2

• Today (2025): 32,399 people
• By 2030: 31,692 · -2.2%
• By 2040: 29,789 · -8.1%
• By 2050: 27,473 · -15.2%
• By 2075: 21,822 · -32.6%
• By 2100: 15,237 · -53.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Black 2%
• Common ancestry: Romanian 6% Lithuanian 5% Slovak 3%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 97% English-only · Russian/Polish/Slavic 2%

Political lean MEDSL · Wexford

• 2024 margin: Solid R (+34.6) · D 32.0% · R 66.6% · Other 1.5%
• 2008→2024 swing: -30.4pp toward R · 2008: -4.2pp · 2024: -34.6pp
• All cycles: 2024: R+34.6 2020: R+34.3 2016: R+36.4 2012: R+16.3 2008: R+4.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 271.52%
• Current HPI: 829.1812
• 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

+240.3% since first listed

10 events — show timeline

• 2026-05-01 Listed $199,900 MiRealSource-MiMLS
• 2022-10-14 Sold (Public Records) $136,000 Public Records
• 2022-10-14 Sold (MLS) $136,000 MiRealSource-MiMLS
• 2022-10-07 Listed — MiRealSource-MiMLS
• 2022-05-20 Listed $130,000 MiRealSource-MiMLS
• 2014-04-02 Listing Removed — MiRealSource-MiMLS
• 2013-04-02 Listed $74,900 MiRealSource-MiMLS
• 2002-05-02 Listing Removed — REALCOMP
• 2001-11-02 Listed $94,900 REALCOMP
• 1997-08-26 Sold (Public Records) $58,750 Public Records

Property tax history

-7.2%/yr

Latest (2025): $1,151 · -65.0% YoY. Source: county tax records.