712 Forest Pkwy · Crystal Falls, MI 49920

$129,900

4 bd · 2.0 ba · 1,772 sqft · SingleFamily public records · 17 Days on market

Built 1930 6,969 sqft lot Est $165k · 21% under

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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 +22.5/30.0
• ARV discount +15.0/15.0
• DSCR +7.2/10.0
• 1% rule +4.8/10.0
• Livability +3.6/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Maximize your portfolio with this turnkey, income-generating 1,872 sq ft duplex featuring private outdoor space and dual laundry setups! The main-floor unit welcomes tenants into a spacious living room and kitchen paired with two comfortable bedrooms and a full bath. Upstairs, the second bright two-bedroom unit features its own in-unit laundry and an updated full bath. Capitalizing on functional space, the full basement boasts convenient secondary laundry hookups, a bonus 3/4 bath, and extensive storage, while the exterior rounds out this high-demand rental with a fully fenced yard and a detached two-car garage.

Key facts

• Updated full bath
• Extensive storage
• In-unit laundry

Tags

• PRIVATE OUTDOOR SPACE
• DUAL LAUNDRY SETUPS
• IN-UNIT LAUNDRY
• UPDATED FULL BATH
• EXTENSIVE STORAGE
• FULLY FENCED YARD

Property features AI

Finance

• Other: Two residential units (both occupied); Separate first-floor unit and second-floor unit; Directions: US2 west to left on High St, right on Forest Pkwy to property on right
• HOA & community: Association/landlord pays taxes, trash removal, water/sewer, electric, and gas

Exterior

• Parking: Detached garage with electric; 2 garage parking spaces
• Utilities: Public water; Public sanitary sewer; Electricity connected (100 Amp service); Natural gas connected; Water heater: Electric and Gas
• Home design: Duplex multi-family property; Conventional frame; 2-story; Built in 1930; Street is a Parkway
• Construction: Basement foundation
• Exterior features: Vinyl siding; Fenced yard; City/county road access; Walkable to school

Interior

• Kitchen: Range/oven; Refrigerator
• Bedrooms: First-floor bedroom; Second-floor bedrooms (in second unit)
• Flooring: Concrete (in at least one bedroom)
• Bathrooms: Three full bathrooms total; Main-floor full bathroom; Basement bathroom
• Heating & cooling: Forced air heating; Central A/C; Natural gas fuel
• Interior features: Basement present; Basement bathroom
• Laundry & utility: Washer; Dryer; Full poured basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $218 ($3k/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 $127k (2.4% below list).
• Recommended offer: $127k (2.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 71/100 on livability (#274 in MI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, health & safety C-, schools D.
• Forest Park School District (rural): math 27% / reading 39% proficiency, ranked #331 of 540 in MI (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 62 active listings in the ZIP; 156 units permitted in Iron County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Iron County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 10y 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 $61k; list at $130k implies a 113% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $126,757 (2.4% below list)

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.98% ✗
• Cap rate: 8.31%
• Cash-on-cash: 7.20%
• DSCR: 1.32
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $164,796
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
401 S Fifth St	0.36mi	3/1.5 (-1)	1,840 (+4%)	10mo	$95,000	$52	62
203 N Sixth St	0.18mi	3/1.5 (-1)	1,534 (-13%)	9mo	$143,000	$93	55
309 S Fifth St	0.32mi	5/2.0 (+1)	1,650 (-7%)	20mo	$49,500	$30	52
121 Iron St	0.14mi	3/1.5 (-1)	1,600 (-10%)	24mo	$125,000	$78	51
212 Briar Hill St	0.35mi	4/2.0	1,512 (-15%)	18mo	$149,900	$99	44
217 Railway St	0.39mi	3/1.0 (-1)	1,527 (-14%)	15mo	$208,750	$137	37

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: -5.3%
• Equity multiple: 0.80×
• Total profit: $-7,209
• Equity at exit: $19,369

10-year hold

• IRR: 4.3%
• Equity multiple: 1.31×
• Total profit: $11,402
• Equity at exit: $11,231

Cash invested: $36,372 (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 49920

• Home prices YoY: -18.6%
• Active inventory: 62
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,268 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$48 /mo · $575/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $218

Break-even live

Break-even rent $991

Max offer price $129,900

Occupancy floor 78%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-18
   days on market $129,900 Active 17 DOM
2. 2026-06-17
   days on market $129,900 Active 16 DOM
3. 2026-06-16
   days on market $129,900 Active 15 DOM
4. 2026-06-15
   days on market $129,900 Active 14 DOM
5. 2026-06-13
   days on market $129,900 Active 12 DOM
6. 2026-06-12
   days on market $129,900 Active 11 DOM
7. 2026-06-09
   days on market $129,900 Active 8 DOM
8. 2026-06-08
   days on market $129,900 Active 7 DOM
9. 2026-06-07
   days on market $129,900 Active 6 DOM
10. 2026-06-07
    days on market $129,900 Active 5 DOM
11. 2026-06-04
    days on market $129,900 Active 2 DOM
12. 2026-06-01
    remarks 619-char remark

    Show marketing remark (619 chars)

    Maximize your portfolio with this turnkey, income-generating 1,872 sq ft duplex featuring private outdoor space and dual laundry setups! The main-floor unit welcomes tenants into a spacious living room and kitchen paired with two comfortable bedrooms and a full bath. Upstairs, the second bright two-bedroom unit features its own in-unit laundry and an updated full bath. Capitalizing on functional space, the full basement boasts convenient secondary laundry hookups, a bonus 3/4 bath, and extensive storage, while the exterior rounds out this high-demand rental with a fully fenced yard and a detached two-car garage.

13. 2026-06-01
    listed $129,900 Active 1 DOM

    Show marketing remark (619 chars)

    Maximize your portfolio with this turnkey, income-generating 1,872 sq ft duplex featuring private outdoor space and dual laundry setups! The main-floor unit welcomes tenants into a spacious living room and kitchen paired with two comfortable bedrooms and a full bath. Upstairs, the second bright two-bedroom unit features its own in-unit laundry and an updated full bath. Capitalizing on functional space, the full basement boasts convenient secondary laundry hookups, a bonus 3/4 bath, and extensive storage, while the exterior rounds out this high-demand rental with a fully fenced yard and a detached two-car garage.

ⓘ 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: $575 · $48/mo
• Projected year-2 tax: $1,288 · $107/mo
• Expected delta: +$713/yr (+$59/mo · 123.9%)

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

Taxation est. · year 1

• Rental income: $15,211
• − Mortgage interest: −$7,276
• − Property taxes: −$575
• − Insurance: −$650
• − Repairs & maintenance: −$1,217
• − Management: −$1,217
• − Depreciation: −$3,779
• Taxable income: $497
• Est. tax owed @ 24.0%: −$119
• After-tax cash flow: $2,498/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: Forest Park School District
• NCES district ID: 2611190
• Math proficiency: 27% ▼ -4.00%
• Reading proficiency: 39% ▼ -7.00%
• Median HH income: $38,409
• Composite: 27.54/100
• National rank: #6947
• State rank: #331 of 540 in MI

Livability — Crystal Falls

• Score: 71/100
• State rank: #274
• US rank: #6768

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Crystal Falls, MI
• Population (ZIP): 4,243

Population outlook (Iron County) Hauer SSP2

• Today (2025): 10,485 people
• By 2030: 9,914 · -5.4%
• By 2040: 8,698 · -17.0%
• By 2050: 7,742 · -26.2%
• By 2075: 6,485 · -38.1%
• By 2100: 5,396 · -48.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 13% Lithuanian 4% Portuguese 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Iron

• 2024 margin: Strong R (+29.3) · D 34.7% · R 64.0% · Other 1.2%
• 2008→2024 swing: -31.5pp toward R · 2008: 2.1pp · 2024: -29.3pp
• All cycles: 2024: R+29.3 2020: R+25.4 2016: R+28.3 2012: R+9.0 2008: D+2.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -41.03%
• Current HPI: 179.7039
• 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

+136.2% since first listed

10 events — show timeline

• 2026-06-01 Listed $129,900 GNMLS
• 2026-06-01 Listed $129,900 UPAR
• 2026-06-01 Listed $129,900 MiRealSource-MiMLS
• 2021-06-15 Sold (MLS) $61,000 UPAR
• 2021-05-06 Sold (Public Records) $62,000 Public Records
• 2021-02-23 Listed $67,000 UPAR
• 2016-12-13 Sold (Public Records) $52,000 Public Records
• 2016-12-13 Sold (MLS) $52,000 UPAR
• 2016-08-26 Listed $55,000 UPAR
• 2008-05-23 Sold (Public Records) $55,000 Public Records

Property tax history

-1.8%/yr

Latest (2025): $575 · -61.8% YoY. Source: county tax records.