308 Sullivan Ave · Prudenville, MI 48651

$229,900

3 bd · 1.5 ba · 1,290 sqft · SingleFamily public records · 40 Days on market

Built 1945 0.32 ac lot Est $199k · 16% over

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Why this score? — see what drove the F 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 +15.4/30.0
• DSCR +4.7/10.0
• Livability +3.4/5.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• ARV discount +0.4/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don't miss out! Newly renovated ranch sits on double corner lot. All the heavy lifting already done for you. .. ready for immediate move-in! Perfect as a year-round residence or a charming "up-north" getaway. Features include a brand-new roof, fresh paint, new flooring, and new GE appliances. The oversized 2+ car garage is insulated and ready to handle your vehicles, boats, sleds, and side-bys! Amenities include an over-sized family room, fully renovated kitchen, and large bedrooms. Ceiling fans are installed in most rooms, and the furnace is prepped for easy AC installation. Ideal location, with just a short walk to the lake, public beach, and local church. Exterior perks include sprinkler system and mature shade trees. All appliances are included! Schedule your showing today!

Key facts

• New ge appliances
• Double corner lot
• Fresh paint

Tags

• NEWLY RENOVATED RANCH
• DOUBLE CORNER LOT
• BRAND-NEW ROOF
• FRESH PAINT
• NEW FLOORING
• NEW GE APPLIANCES

Property features AI

Exterior

• Parking: Attached garage with direct access; Driveway; 2 garage spaces
• Utilities: Private well water; Public sewer
• Home design: Single family residence; One level; Ground-level entry
• Construction: Vinyl siding; Asphalt roof; Slab foundation; Built as a residential single-family home
• Exterior features: Covered porch; Paved road access

Interior

• Kitchen: Free-standing gas range; Free-standing refrigerator; Microwave; Stainless steel appliances
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Stainless steel appliances; Microwave; Gas water heater; Free-standing gas range; Free-standing refrigerator; 7 total rooms
• Laundry & utility: Laundry room; Electric dryer hookup; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $87 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $187k (18.6% below list).
• Recommended offer: $187k (18.6% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 2.8% in Prudenville — 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 68/100 on livability (#369 in MI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Houghton Lake Community Schools (rural): math 18% / reading 36% proficiency, ranked #410 of 540 in MI (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 86 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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($223k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $115k; list at $230k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $187,141 (18.6% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — 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. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.81% ✗
• Cap rate: 6.75%
• Cash-on-cash: 1.62%
• DSCR: 1.07
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $198,660
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
308 Sullivan Ave	0.00mi	3/1.5	1,290 (0%)	1mo	$229,900	$178	99
308 Sullivan Ave	0.04mi	2/1.5 (-1)	1,290 (0%)	1mo	$229,900	$178	92
102 Oak St	0.22mi	2/1.0 (-1)	1,300 (+1%)	10mo	$156,500	$120	74
2580 W Nestel Rd	0.52mi	3/2.0	1,248 (-3%)	4mo	$163,850	$131	65
222 Tamarac Dr	0.47mi	3/2.0	1,200 (-7%)	1mo	$232,500	$194	64
114 Pine St	0.25mi	3/1.0	1,168 (-10%)	9mo	$166,000	$142	63
105 Sumac Dr	0.31mi	2/1.0 (-1)	1,164 (-10%)	3mo	$149,900	$129	60
311 Iroquois Ave	0.71mi	2/2.0 (-1)	1,288 (-0%)	1mo	$236,000	$183	59
229 Pine Oaks Dr	0.51mi	3/1.0	1,200 (-7%)	6mo	$185,000	$154	58
105 Ashwood Dr	0.74mi	3/2.0	1,300 (+1%)	9mo	$225,000	$173	54
115 13th St	0.44mi	2/1.0 (-1)	1,182 (-8%)	8mo	$145,000	$123	52
233 Oakdale Dr	0.57mi	4/2.0 (+1)	1,440 (+12%)	8mo	$165,000	$115	40

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: -13.8%
• Equity multiple: 0.51×
• Total profit: $-31,799
• Equity at exit: $34,279

10-year hold

• IRR: -5.0%
• Equity multiple: 0.67×
• Total profit: $-20,925
• Equity at exit: $19,878

Cash invested: $64,372 (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 48651

• Home prices YoY: -25.6%
• Active inventory: 86
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,871 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$90 /mo · $1,079/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $87

Break-even live

Break-even rent $1,761

Max offer price $229,900

Occupancy floor 90%

Sensitivity live

Price	-10% $217	-5% $152	+0% $87	+5% $22	+10% $-43
Rent	-10% $-61	-5% $13	+0% $87	+5% $161	+10% $235
Rate	-1.0pp $203	-0.5pp $146	base $87	+0.5pp $28	+1.0pp $-33

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-15
   listed $229,900 Active

   Show marketing remark (798 chars)

   Don't miss out! Newly renovated ranch sits on double corner lot. All the heavy lifting already done for you. .. ready for immediate move-in! Perfect as a year-round residence or a charming "up-north" getaway. Features include a brand-new roof, fresh paint, new flooring, and new GE appliances. The oversized 2+ car garage is insulated and ready to handle your vehicles, boats, sleds, and side-bys! Amenities include an over-sized family room, fully renovated kitchen, and large bedrooms. Ceiling fans are installed in most rooms, and the furnace is prepped for easy AC installation. Ideal location, with just a short walk to the lake, public beach, and local church. Exterior perks include sprinkler system and mature shade trees. All appliances are included! Schedule your showing today!

2. 2026-04-15
   listed $229,900 Active 798-char remark

   Show marketing remark (798 chars)

   Don't miss out! Newly renovated ranch sits on double corner lot. All the heavy lifting already done for you. .. ready for immediate move-in! Perfect as a year-round residence or a charming "up-north" getaway. Features include a brand-new roof, fresh paint, new flooring, and new GE appliances. The oversized 2+ car garage is insulated and ready to handle your vehicles, boats, sleds, and side-bys! Amenities include an over-sized family room, fully renovated kitchen, and large bedrooms. Ceiling fans are installed in most rooms, and the furnace is prepped for easy AC installation. Ideal location, with just a short walk to the lake, public beach, and local church. Exterior perks include sprinkler system and mature shade trees. All appliances are included! Schedule your showing today!

3. 2025-11-12
   soldstatus $115,000

ⓘ 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: $1,079 · $90/mo
• Projected year-2 tax: $2,310 · $192/mo
• Expected delta: +$1,231/yr (+$103/mo · 114.1%)

ⓘ 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 2/10 Low
• 🌡 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: $22,457
• − Mortgage interest: −$12,878
• − Property taxes: −$1,079
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,797
• − Management: −$1,797
• − Depreciation: −$6,688
• Taxable loss: −$2,930
• Est. tax savings @ 24.0%: +$703
• After-tax cash flow: $1,749/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: Houghton Lake Community Schools
• NCES district ID: 2618600
• Math proficiency: 18% ▼ -7.00%
• Reading proficiency: 36% ▼ -3.00%
• Median HH income: $34,744
• Composite: 22.19/100
• National rank: #8158
• State rank: #410 of 540 in MI

Livability — Prudenville

• Score: 68/100
• State rank: #369
• US rank: #9621

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Prudenville, MI
• Population (ZIP): 4,331

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 (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Romanian 9% Slovak 4% Iranian 4%
• Foreign-born: 2%
• Languages at home: 98% English-only · Spanish 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: ▼ -87.27%
• Current HPI: 252.9662
• 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

+99.9% since first listed

3 events — show timeline

• 2026-04-15 Listed $229,900 REALCOMP
• 2026-04-15 Listed $229,900 MiRealSource-MiMLS
• 2025-11-12 Sold (Public Records) $115,000 Public Records

Property tax history

+3.2%/yr

Latest (2025): $1,079 · +3.1% YoY. Source: county tax records.