10180 Eagle Pass · Canadian Lakes, MI 49346

$164,900

2 bd · 1.0 ba · 912 sqft · SingleFamily · 35 Days on market

Built 1978 0.35 ac lot $181/sqft · at area comps Est $164k · at est. $75/mo HOA · 4% of rent

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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 +22.6/30.0
• ARV discount +7.3/15.0
• DSCR +7.2/10.0
• 1% rule +6.5/10.0
• Livability +3.1/5.0
• 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

Welcome to the peaceful wooded setting of Lost Canyon in beautiful Canadian Lakes! Nestled among mature trees in a quiet and scenic neighborhood, this well-maintained stick-built home offers comfort, efficiency, and room to grow. Recent improvements include a new roof and updated flooring, adding both style and value. The energy-efficient design helps keep utility costs manageable year-round. Inside, you'll enjoy the warmth and charm of a beautiful wood-burning fireplace, perfect for cozy evenings at home. The spacious basement offers excellent potential to finish and nearly double the available living space. Conveniently located with easy access to M-20, Big Rapids, and Mt. Pleasant, this attractively priced home is ideal for year-round living or a relaxing getaway in a highly desirable area of Canadian Lakes!

Key facts

• Wooded setting
• Updated flooring
• New roof

Tags

• WOODED SETTING
• MATURE TREES
• NEW ROOF
• UPDATED FLOORING
• ENERGY EFFICIENT DESIGN
• WOOD BURNING FIREPLACE

Property features AI

Finance

• HOA & community: Association with amenities including airport landing strip, baseball diamond, beach area, campground, clubhouse, fitness center, golf membership, indoor pool, meeting room, playground, restaurant/bar, sauna, security, spa/hot tub, and tennis courts; Annual association fee

Exterior

• Utilities: Well water; Electric water heater
• Home design: Ranch-style single family home; One story
• Construction: Built in 1978; Brick and vinyl siding exterior; Composition roof; Full basement
• Exterior features: Recreational lot; Wooded lot; Unimproved road access

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Kitchen
• Bedrooms: Primary bedroom (12 x 10); Bedroom 2 (11 x 9); Bedroom 3; Bedroom 4; Bedroom 5
• Bathrooms: 1 full bathroom; Primary bathroom (5 x 8)
• Heating & cooling: Baseboard heating
• Interior features: Fireplace; Formal dining area; Family room; Recreation room; Den; Other flexible rooms (several)
• Laundry & utility: Laundry room; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $280 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $160k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 2.1% in Canadian Lakes — 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 62/100 on livability (#541 in MI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, amenities F, commute F.
• Chippewa Hills School District (rural): math 24% / reading 42% proficiency, ranked #324 of 540 in MI (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 196 active listings in the ZIP; 116 units permitted in Mecosta County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Mecosta County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 18y 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 $78k; list at $165k implies a 110% gain — meaningful room to come down on a strong offer.

Recommended offer $159,953 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.15% ✓
• Cap rate: 8.33%
• Cash-on-cash: 7.27%
• DSCR: 1.32
• GRM: 7.3

CMA / ARV

• ARV (median comp): $164,096
• List price: $164,900
• Delta: 0.49%
• Verdict: FAIR
• Comps: 5 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9849 Frontenac Dr	0.71mi	3/1.0 (+1)	1,025 (+12%)	17mo	$147,000	$143	27

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: -5.1%
• Equity multiple: 0.81×
• Total profit: $-8,839
• Equity at exit: $24,587

10-year hold

• IRR: 4.6%
• Equity multiple: 1.34×
• Total profit: $15,537
• Equity at exit: $14,258

Cash invested: $46,172 (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 49346

• Home prices YoY: -27.2%
• Active inventory: 196
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,891 medium
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,474/yr
• Insurance: −$69
• HOA: −$75
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $280

Break-even live

Break-even rent $1,537

Max offer price $164,900

Occupancy floor 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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $75 · $900/yr

Listing history 29 events

1. 2026-06-19
   days on market $164,900 Active 35 DOM
2. 2026-06-18
   days on market $164,900 Active 34 DOM
3. 2026-06-17
   days on market $164,900 Active 33 DOM
4. 2026-06-16
   days on market $164,900 Active 32 DOM
5. 2026-06-15
   days on market $164,900 Active 31 DOM
6. 2026-06-14
   days on market $164,900 Active 29 DOM
7. 2026-06-12
   days on market $164,900 Active 28 DOM
8. 2026-06-09
   days on market $164,900 Active 25 DOM
9. 2026-06-09
   price $164,900 Active 24 DOM
10. 2026-06-08
    days on market $169,900 Active 24 DOM

    Show marketing remark (822 chars)

    Welcome to the peaceful wooded setting of Lost Canyon in beautiful Canadian Lakes! Nestled among mature trees in a quiet and scenic neighborhood, this well-maintained stick-built home offers comfort, efficiency, and room to grow. Recent improvements include a new roof and updated flooring, adding both style and value. The energy-efficient design helps keep utility costs manageable year-round. Inside, you'll enjoy the warmth and charm of a beautiful wood-burning fireplace, perfect for cozy evenings at home. The spacious basement offers excellent potential to finish and nearly double the available living space. Conveniently located with easy access to M-20, Big Rapids, and Mt. Pleasant, this attractively priced home is ideal for year-round living or a relaxing getaway in a highly desirable area of Canadian Lakes!

11. 2026-06-07
    days on market $169,900 Active 23 DOM
12. 2026-06-05
    days on market $169,900 Active 20 DOM
13. 2026-06-03
    days on market $169,900 Active 19 DOM
14. 2026-06-02
    days on market $169,900 Active 18 DOM
15. 2026-06-01
    days on market $169,900 Active 17 DOM
16. 2026-05-31
    days on market $169,900 Active 16 DOM
17. 2026-05-30
    days on market $169,900 Active 15 DOM
18. 2026-05-15
    listed $169,900 Active 822-char remark

    Show marketing remark (822 chars)

    Welcome to the peaceful wooded setting of Lost Canyon in beautiful Canadian Lakes! Nestled among mature trees in a quiet and scenic neighborhood, this well-maintained stick-built home offers comfort, efficiency, and room to grow. Recent improvements include a new roof and updated flooring, adding both style and value. The energy-efficient design helps keep utility costs manageable year-round. Inside, you'll enjoy the warmth and charm of a beautiful wood-burning fireplace, perfect for cozy evenings at home. The spacious basement offers excellent potential to finish and nearly double the available living space. Conveniently located with easy access to M-20, Big Rapids, and Mt. Pleasant, this attractively priced home is ideal for year-round living or a relaxing getaway in a highly desirable area of Canadian Lakes!

19. 2026-05-15
    listed $169,900 Active 822-char remark

    Show marketing remark (822 chars)

    Welcome to the peaceful wooded setting of Lost Canyon in beautiful Canadian Lakes! Nestled among mature trees in a quiet and scenic neighborhood, this well-maintained stick-built home offers comfort, efficiency, and room to grow. Recent improvements include a new roof and updated flooring, adding both style and value. The energy-efficient design helps keep utility costs manageable year-round. Inside, you'll enjoy the warmth and charm of a beautiful wood-burning fireplace, perfect for cozy evenings at home. The spacious basement offers excellent potential to finish and nearly double the available living space. Conveniently located with easy access to M-20, Big Rapids, and Mt. Pleasant, this attractively priced home is ideal for year-round living or a relaxing getaway in a highly desirable area of Canadian Lakes!

20. 2026-05-15
    listed $169,900 Active

    Show marketing remark (822 chars)

    Welcome to the peaceful wooded setting of Lost Canyon in beautiful Canadian Lakes! Nestled among mature trees in a quiet and scenic neighborhood, this well-maintained stick-built home offers comfort, efficiency, and room to grow. Recent improvements include a new roof and updated flooring, adding both style and value. The energy-efficient design helps keep utility costs manageable year-round. Inside, you'll enjoy the warmth and charm of a beautiful wood-burning fireplace, perfect for cozy evenings at home. The spacious basement offers excellent potential to finish and nearly double the available living space. Conveniently located with easy access to M-20, Big Rapids, and Mt. Pleasant, this attractively priced home is ideal for year-round living or a relaxing getaway in a highly desirable area of Canadian Lakes!

21. 2017-05-11
    historical
22. 2016-07-27
    historical
23. 2016-05-15
    listed $79,500 Active
24. 2016-05-11
    listed $79,500
25. 2014-09-15
    historical
26. 2009-01-03
    historical
27. 2008-06-04
    listed $87,500
28. 2008-06-04
    listed $87,500
29. 2006-10-30
    soldstatus $78,500

ⓘ 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 3/10 Moderate
• 🌡 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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,696
• − Mortgage interest: −$9,237
• − Property taxes: −$2,474
• − Insurance: −$824
• − Repairs & maintenance: −$1,816
• − Management: −$1,816
• − HOA: −$900
• − Depreciation: −$4,797
• Taxable income: $833
• Est. tax owed @ 24.0%: −$200
• After-tax cash flow: $3,155/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: Chippewa Hills School District
• NCES district ID: 2609560
• Math proficiency: 24% ▼ -10.00%
• Reading proficiency: 42% ▼ -5.00%
• Median HH income: $43,598
• Composite: 28.01/100
• National rank: #6849
• State rank: #324 of 540 in MI

Livability — Canadian Lakes

• Score: 62/100
• State rank: #541
• US rank: #16622

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Canadian Lakes, MI
• Population (ZIP): 4,851

Population outlook (Mecosta County) Hauer SSP2

• Today (2025): 42,954 people
• By 2030: 42,954 · +0.0%
• By 2040: 41,574 · -3.2%
• By 2050: 39,250 · -8.6%
• By 2075: 32,628 · -24.0%
• By 2100: 27,476 · -36.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Iranian 8% Romanian 7% Lithuanian 4%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · German/W. Germanic 3% Spanish 1%

Political lean MEDSL · Mecosta

• 2024 margin: Solid R (+30.0) · D 34.2% · R 64.2% · Other 1.6%
• 2008→2024 swing: -29.3pp toward R · 2008: -0.7pp · 2024: -30.0pp
• All cycles: 2024: R+30.0 2020: R+28.0 2016: R+26.1 2012: R+9.8 2008: R+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -73.43%
• Current HPI: 196.1356
• 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

+110.1% since first listed

15 events — show timeline

• 2026-06-08 Price Changed $164,900 MiRealSource-MiMLS
• 2026-06-08 Price Changed $164,900 REALCOMP
• 2026-06-08 Price Changed $164,900 SW Michigan MLS
• 2026-05-15 Listed $169,900 SW Michigan MLS
• 2026-05-15 Listed $169,900 REALCOMP
• 2026-05-15 Listed $169,900 MiRealSource-MiMLS
• 2017-05-11 Listing Removed — REALCOMP
• 2016-07-27 Listing Removed — SW Michigan MLS
• 2016-05-15 Listed $79,500 SW Michigan MLS
• 2016-05-11 Listed $79,500 REALCOMP
• 2014-09-15 Listing Removed — SW Michigan MLS
• 2009-01-03 Listing Removed — REALCOMP
• 2008-06-04 Listed $87,500 REALCOMP
• 2008-06-04 Listed $87,500 SW Michigan MLS
• 2006-10-30 Sold (Public Records) $78,500 Public Records