2324 Dobler Rd · Skidway Lake, MI 48659

$49,900

1 bd · 1.0 ba · 600 sqft · SingleFamily · 13 Days on market

Built 1900 Fair condition 1.38 ac lot Est $52k · at est.

---

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 +9.0/15.0
• Appreciation +8.4/10.0
• Schools +3.7/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks MLS

One bedroom, 3/4 bath home with 1.38 acres. There's a 12x24 attached cold storage area that was once a 1 car attached garage along with two storage sheds. The Rifle River is down the road, easy access to I-75. Property is being sold As-Is.

Key facts

• Two storage sheds
• Easy access to i-75
• 1.38 acre lot

Tags

• ATTACHED COLD STORAGE AREA
• TWO STORAGE SHEDS
• EASY ACCESS TO I-75

Property features AI

Exterior

• Parking: Attached garage with 1 parking space
• Utilities: Private well water; Septic tank
• Home design: Single-family residence; One story
• Construction: Masonite exterior; Block foundation; Built area approximately 600 square feet
• Exterior features: Gravel road access; Includes shed(s)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Propane heating and space heater; No central cooling
• Interior features: Crawl space basement with block foundation; Total of 3 rooms

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $50k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $258 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($763 rent vs $50k).

Location & tenants

• Location reads 58/100 on livability (#633 in MI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: health & safety C-, schools F, amenities F.
• Standish-Sterling Community Schools (rural): math 37% / reading 51% proficiency, ranked #168 of 540 in MI (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 13 active listings in the ZIP; 30 units permitted in Arenac County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($345 loan paydown + $3k appreciation (6.7% local appreciation)).
• Arenac County population projected at -32% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $49,900

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1900 — 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. 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.
6. 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.
7. 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: 1.53% ✓
• Cap rate: 12.49%
• Cash-on-cash: 22.12%
• DSCR: 1.98
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $51,600
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2324 Dobler Rd	0.00mi	1/1.0	600 (0%)	1mo	$51,500	$86	99

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

Projected returns pro-forma

6.71% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 35.2%
• Equity multiple: 3.36×
• Total profit: $32,940
• Equity at exit: $33,619

10-year hold

• IRR: 32.2%
• Equity multiple: 6.98×
• Total profit: $83,601
• Equity at exit: $63,008

Cash invested: $13,972 (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 48659

• Home prices YoY: 3.5%
• Active inventory: 13
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $763 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $748/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$160
• Net cashflow: $258

Break-even live

Break-even rent $437

Max offer price $49,900

Occupancy floor 61%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-14
   status Pending

   Show marketing remark (239 chars)

   One bedroom, 3/4 bath home with 1.38 acres. There's a 12x24 attached cold storage area that was once a 1 car attached garage along with two storage sheds. The Rifle River is down the road, easy access to I-75. Property is being sold As-Is.

2. 2026-05-14
   status Pending 239-char remark

   Show marketing remark (239 chars)

   One bedroom, 3/4 bath home with 1.38 acres. There's a 12x24 attached cold storage area that was once a 1 car attached garage along with two storage sheds. The Rifle River is down the road, easy access to I-75. Property is being sold As-Is.

3. 2026-04-29
   listed $49,900 Active

   Show marketing remark (239 chars)

   One bedroom, 3/4 bath home with 1.38 acres. There's a 12x24 attached cold storage area that was once a 1 car attached garage along with two storage sheds. The Rifle River is down the road, easy access to I-75. Property is being sold As-Is.

4. 2026-04-29
   listed $49,900 Active 239-char remark

   Show marketing remark (239 chars)

   One bedroom, 3/4 bath home with 1.38 acres. There's a 12x24 attached cold storage area that was once a 1 car attached garage along with two storage sheds. The Rifle River is down the road, easy access to I-75. Property is being sold As-Is.

ⓘ 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: $9,151
• − Mortgage interest: −$2,795
• − Property taxes: −$748
• − Insurance: −$250
• − Repairs & maintenance: −$732
• − Management: −$732
• − Depreciation: −$1,452
• Taxable income: $2,442
• Est. tax owed @ 24.0%: −$586
• After-tax cash flow: $2,505/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 · 13 photos

Fair 45/100 Moderate rehab

This single-family home requires moderate renovations to improve its condition and increase its resale and rental value.

Repairs flagged

• Major kitchen cabinets — severely worn and outdated
• Major bathroom fixtures — dated and worn
• Major HVAC unit — old and exposed ductwork
• Minor exterior siding — some discoloration

Value-add opportunities

• Both paint interior walls — fresh paint enhances curb appeal and interior aesthetics
• Both replace carpeting — new flooring improves both resale and rental value
• Both repair/replace windows — new windows improve energy efficiency and curb appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · severely worn and outdated	Major	$15,000–50,000
bathroom fixtures · dated and worn	Major	$15,000–50,000
HVAC unit · old and exposed ductwork	Major	$15,000–50,000
exterior siding · some discoloration	Minor	$500–3,000
Total estimated repair cost · 4 items		$45,500–153,000

Value-add ROI direction

• Both paint interior walls — fresh paint enhances curb appeal and interior aesthetics ↑
• Both replace carpeting — new flooring improves both resale and rental value ↑
• Both repair/replace windows — new windows improve energy efficiency and curb appeal ↑

ⓘ 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: Standish-Sterling Community Schools
• NCES district ID: 2632940
• Math proficiency: 37% ▼ -6.00%
• Reading proficiency: 51% ▼ -3.00%
• Median HH income: $39,526
• Composite: 36.76/100
• National rank: #4573
• State rank: #168 of 540 in MI

Livability — Skidway Lake

• Score: 58/100
• State rank: #633
• US rank: #21365

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,740

Population outlook (Arenac County) Hauer SSP2

• Today (2025): 14,036 people
• By 2030: 13,189 · -6.0%
• By 2040: 11,309 · -19.4%
• By 2050: 9,616 · -31.5%
• By 2075: 6,776 · -51.7%
• By 2100: 4,997 · -64.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 4%
• Common ancestry: Romanian 18% Lithuanian 9% Slovak 5%
• Foreign-born: 0%
• Languages at home: 96% English-only · German/W. Germanic 3% Russian/Polish/Slavic 1%

Political lean MEDSL · Arenac

• 2024 margin: Solid R (+40.6) · D 29.1% · R 69.7% · Other 1.3%
• 2008→2024 swing: -44.9pp toward R · 2008: 4.3pp · 2024: -40.6pp
• All cycles: 2024: R+40.6 2020: R+35.7 2016: R+33.1 2012: R+4.9 2008: D+4.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.71%
• Current HPI: 200.245
• 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

+0.0% since first listed

4 events — show timeline

• 2026-05-14 Pending — REALCOMP
• 2026-05-14 Pending — MiRealSource-MiMLS
• 2026-04-29 Listed $49,900 MiRealSource-MiMLS
• 2026-04-29 Listed $49,900 REALCOMP