5157 N William St · Fountain, MI 49410

$94,000

1 bd · 1.0 ba · 500 sqft · Other public records · 8 Days on market

Built 1940 7,953 sqft lot

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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).

• Cash flow +11.5/30.0
• ARV discount +7.5/15.0
• Appreciation +6.3/10.0
• DSCR +3.4/10.0
• 1% rule +3.3/10.0
• Livability +3.1/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Perfect set-up for a first time home buyer, retirement get-a-way or possible rental. Close to several area lakes this 1 bedroom 1 bath updated home on a nice size lot offers an open floor plan. Washer/Dryer hook-up, updated siding and roof and heating system in 2022. Lots of windows and natural light. Home is set up for seasonal or year round use. Convenient location with a short drive to Ludington.

Key facts

• Open floor plan
• Updated siding
• Updated roof

Tags

• OPEN FLOOR PLAN
• UPDATED SIDING
• UPDATED ROOF
• UPDATED HEATING SYSTEM
• CLOSE TO SEVERAL AREA LAKES
• CONVENIENT LOCATION

Property features AI

Exterior

• Utilities: Well water; Electricity available
• Home design: Ranch-style single family home; Single-story
• Construction: Built in 1940; Vinyl siding
• Exterior features: Paved road frontage; Lot of about 0.18 acres

Interior

• Kitchen: Oven; Refrigerator
• Bathrooms: 1 full bathroom
• Interior features: Crawl space basement; 3 total rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath other listed at $94k.

Deal economics

• At list price, monthly cash flow is $-31 ($-368/yr) — negative.
• To cash-flow at today's rent, offer at most $90k (4.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $78k (16.7% below list).
• Recommended offer: $78k (16.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#569 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Mason County Eastern Schools (rural): math 26% / reading 40% proficiency, ranked #496 of 760 in MI (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mason County Eastern Elem Sch (math 27% / reading 37%, grade F, #814 of 1,397 statewide, top 61%, 211 students, 78% FRL); Mason County Eastern Junior Highhigh School (math 32% / reading 47%, grade F, #304 of 713 statewide, top 46%, 171 students, 59% FRL).
• Market conditions: 28 active listings in the ZIP; 177 units permitted in Mason County in 2024 (97 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($650 loan paydown + $2k appreciation (2.6% local appreciation)).
• Mason County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (2.6% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~8 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 20y 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 $50k; list at $94k implies a 88% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $78,345 (16.7% 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. Built in 1940 — 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. 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?
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: 0.83% ✗
• Cap rate: 5.90%
• Cash-on-cash: -1.40%
• DSCR: 0.94
• GRM: 10.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.62% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.1%
• Equity multiple: 1.28×
• Total profit: $7,499
• Equity at exit: $40,264

10-year hold

• IRR: 8.3%
• Equity multiple: 2.21×
• Total profit: $31,842
• Equity at exit: $60,538

Cash invested: $26,320 (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 49410

• Home prices YoY: 1.5%
• Active inventory: 28
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $783 medium
• Mortgage (P&I): −$493
• Tax est. 1.5%: −$118 /mo · $1,410/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$165
• Net cashflow: $-31

Break-even live

Break-even rent $822

Max offer price $89,559

Occupancy floor 99%

Sensitivity live

Price	-10% $34	-5% $2	+0% $-31	+5% $-63	+10% $-96
Rent	-10% $-93	-5% $-62	+0% $-31	+5% $0	+10% $31
Rate	-1.0pp $17	-0.5pp $-7	base $-31	+0.5pp $-55	+1.0pp $-80

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: $23,500
• Closing costs: $2,820
• Reserves months: —
• Total cash needed: —

Listing history 35 events

1. 2026-05-18
   listed $94,000 Active 402-char remark

   Show marketing remark (402 chars)

   Perfect set-up for a first time home buyer, retirement get-a-way or possible rental. Close to several area lakes this 1 bedroom 1 bath updated home on a nice size lot offers an open floor plan. Washer/Dryer hook-up, updated siding and roof and heating system in 2022. Lots of windows and natural light. Home is set up for seasonal or year round use. Convenient location with a short drive to Ludington.

2. 2026-05-18
   listed $94,000 Active 402-char remark

   Show marketing remark (402 chars)

   Perfect set-up for a first time home buyer, retirement get-a-way or possible rental. Close to several area lakes this 1 bedroom 1 bath updated home on a nice size lot offers an open floor plan. Washer/Dryer hook-up, updated siding and roof and heating system in 2022. Lots of windows and natural light. Home is set up for seasonal or year round use. Convenient location with a short drive to Ludington.

3. 2026-05-18
   listed $94,000 Active

   Show marketing remark (402 chars)

   Perfect set-up for a first time home buyer, retirement get-a-way or possible rental. Close to several area lakes this 1 bedroom 1 bath updated home on a nice size lot offers an open floor plan. Washer/Dryer hook-up, updated siding and roof and heating system in 2022. Lots of windows and natural light. Home is set up for seasonal or year round use. Convenient location with a short drive to Ludington.

4. 2022-06-22
   soldstatus $50,000
5. 2022-06-21
   status Pending
6. 2022-06-21
   status Pending
7. 2022-06-21
   soldstatus $50,000 Sold
8. 2022-06-21
   soldstatus $50,000 Sold
9. 2022-06-21
   soldstatus $50,000
10. 2022-02-10
    historical Contingent - Continue To Show
11. 2022-02-10
    historical Active Contingent
12. 2021-10-21
    price $58,000
13. 2021-10-21
    price $58,000
14. 2021-08-23
    price $59,000
15. 2021-08-23
    price $59,000
16. 2021-07-30
    price $60,000
17. 2021-07-26
    price $60,000
18. 2021-06-10
    price $62,000
19. 2021-06-10
    price $62,000
20. 2021-05-28
    price $63,000
21. 2021-05-28
    price $63,000
22. 2020-12-14
    price $64,000
23. 2020-08-18
    price $65,000
24. 2020-01-06
    historical
25. 2020-01-06
    listed $64,000 Active
26. 2020-01-06
    listed $68,000 Active
27. 2020-01-06
    listed $58,000
28. 2020-01-06
    historical
29. 2018-07-19
    listed $68,000
30. 2018-07-19
    listed $68,000
31. 2014-05-02
    historical
32. 2013-10-16
    listed $69,000
33. 2008-08-04
    historical
34. 2006-08-04
    listed $64,900
35. 2000-06-01
    soldstatus $20,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥95°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,401
• − Mortgage interest: −$5,265
• − Property taxes: −$1,410
• − Insurance: −$470
• − Repairs & maintenance: −$752
• − Management: −$752
• − Depreciation: −$2,735
• Taxable loss: −$1,983
• Est. tax savings @ 24.0%: +$476
• After-tax cash flow: $108/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: Mason County Eastern Schools
• NCES district ID: 2623160
• Math proficiency: 26% ▬ 0.00%
• Reading proficiency: 40% ▲ 5.00%
• Median HH income: $38,432
• Composite: 30.27/100
• National rank: #11559
• State rank: #496 of 760 in MI

Livability — Fountain

• Score: 61/100
• State rank: #569
• US rank: #18078

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fountain, MI
• Population (ZIP): 1,709

Population outlook (Mason County) Hauer SSP2

• Today (2025): 28,828 people
• By 2030: 28,407 · -1.5%
• By 2040: 27,183 · -5.7%
• By 2050: 26,171 · -9.2%
• By 2075: 24,057 · -16.5%
• By 2100: 20,240 · -29.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Romanian 8% Iranian 8% Lithuanian 6%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Mason

• 2024 margin: Strong R (+21.4) · D 38.6% · R 60.0% · Other 1.4%
• 2008→2024 swing: -25.8pp toward R · 2008: 4.4pp · 2024: -21.4pp
• All cycles: 2024: R+21.4 2020: R+19.7 2016: R+22.0 2012: R+5.0 2008: D+4.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.62%
• Current HPI: 177.5895
• 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

+370.0% since first listed

35 events — show timeline

• 2026-05-18 Listed $94,000 REALCOMP
• 2026-05-18 Listed $94,000 SW Michigan MLS
• 2026-05-18 Listed $94,000 MiRealSource-MiMLS
• 2022-06-22 Sold (Public Records) $50,000 Public Records
• 2022-06-21 Pending — REALCOMP
• 2022-06-21 Pending — SW Michigan MLS
• 2022-06-21 Sold (MLS) $50,000 MiRealSource-MiMLS
• 2022-06-21 Sold (MLS) $50,000 SW Michigan MLS
• 2022-06-21 Sold (MLS) $50,000 REALCOMP
• 2022-02-10 Contingent — REALCOMP
• 2022-02-10 Contingent — SW Michigan MLS
• 2021-10-21 Price Changed $58,000 REALCOMP
• 2021-10-21 Price Changed $58,000 SW Michigan MLS
• 2021-08-23 Price Changed $59,000 REALCOMP
• 2021-08-23 Price Changed $59,000 SW Michigan MLS
• 2021-07-30 Price Changed $60,000 REALCOMP
• 2021-07-26 Price Changed $60,000 SW Michigan MLS
• 2021-06-10 Price Changed $62,000 REALCOMP
• 2021-06-10 Price Changed $62,000 SW Michigan MLS
• 2021-05-28 Price Changed $63,000 REALCOMP
• 2021-05-28 Price Changed $63,000 SW Michigan MLS
• 2020-12-14 Price Changed $64,000 SW Michigan MLS
• 2020-08-18 Price Changed $65,000 SW Michigan MLS
• 2020-01-06 Listing Removed — MiRealSource-MiMLS
• 2020-01-06 Listed $58,000 MiRealSource-MiMLS
• 2020-01-06 Listed $68,000 SW Michigan MLS
• 2020-01-06 Listed $64,000 REALCOMP
• 2020-01-06 Listing Removed — REALCOMP
• 2018-07-19 Listed $68,000 MiRealSource-MiMLS
• 2018-07-19 Listed $68,000 REALCOMP
• 2014-05-02 Listing Removed — REALCOMP
• 2013-10-16 Listed $69,000 REALCOMP
• 2008-08-04 Listing Removed — REALCOMP
• 2006-08-04 Listed $64,900 REALCOMP
• 2000-06-01 Sold (Public Records) $20,000 Public Records