10905 1st St · Canadian Lakes, MI 49346

$239,999

3 bd · 1.0 ba · 1,260 sqft · SingleFamily public records · 85 Days on market

Built 1970 0.44 ac lot $190/sqft · 25% below area Est $320k · 25% under $150/mo HOA · 7% of rent

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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).

• ARV discount +15.0/15.0
• Cash flow +9.1/30.0
• 1% rule +3.6/10.0
• Livability +3.1/5.0
• Schools +2.8/10.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming Canadian Lakes Chalet on Double Corner Lot!Well-maintained and fully furnished chalet featuring vaulted ceilings, spacious loft, and rebuilt interior balcony overlooking the main living area. Located on a desirable corner property with two lots and partial main lake views. Enjoy year-round comfort with forced-air furnace, central A/C, brand new washer & dryer, and low-maintenance Trex decking. Fresh interior paint adds a bright, move-in-ready feel. Flexible layout and low-maintenance features offer a variety of use options. Canadian Lakes ownership includes access to private beaches, golf courses, indoor/outdoor pools, pickleball, dining, and more.

Key facts

• 0.44 acre lot
• Community pool
• Built 1970

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $-183 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $213k (11.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $206k (14.3% below list).
• Recommended offer: $206k (14.3% below list) — sets the bar for 1% rule.
• Cap rate 5.4% 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 $2k of loan paydown is wiped out by about $7k 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 85 days — a 6% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 2y 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.

Recommended offer $205,732 (14.3% 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. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 0.86% ✗
• Cap rate: 5.38%
• Cash-on-cash: -3.27%
• DSCR: 0.85
• GRM: 9.7

CMA / ARV

• ARV (median comp): $319,660
• List price: $239,999
• Delta: -23.36%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7914 W Royal Rd	0.33mi	2/1.0 (-1)	1,262 (+0%)	3mo	$380,000	$301	77
10900 2nd St	0.10mi	3/1.0	1,152 (-9%)	9mo	$212,500	$184	74
7785 Court B	0.17mi	2/2.0 (-1)	1,344 (+7%)	8mo	$245,000	$182	65
8277 Peninsula Dr	0.64mi	3/2.0	1,325 (+5%)	8mo	$182,000	$137	51
7951 W Royal Rd	0.34mi	4/2.0 (+1)	1,400 (+11%)	6mo	$425,000	$304	51
7964 W Royal Rd	0.39mi	2/1.0 (-1)	1,382 (+10%)	12mo	$441,100	$319	50

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: -21.7%
• Equity multiple: 0.25×
• Total profit: $-50,441
• Equity at exit: $35,785

10-year hold

• IRR: -15.3%
• Equity multiple: 0.13×
• Total profit: $-58,455
• Equity at exit: $20,751

Cash invested: $67,200 (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: 9.7×

Monthly cashflow live

• Estimated rent: $2,057 medium
• Mortgage (P&I): −$1,259
• Tax est. 1.5%: −$300 /mo · $3,600/yr
• Insurance: −$100
• HOA: −$150
• Vacancy / Maint / Mgmt: −$432
• Net cashflow: $-183

Break-even live

Break-even rent $2,289

Max offer price $213,476

Occupancy floor —

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $150 · $1,800/yr
• Likely covers: pool

Listing history 47 events

1. 2026-06-19
   days on market $239,999 Active 85 DOM
2. 2026-06-18
   price $239,999 Active 84 DOM
3. 2026-06-18
   days on market $245,000 Active 84 DOM
4. 2026-06-17
   days on market $245,000 Active 83 DOM
5. 2026-06-16
   days on market $245,000 Active 82 DOM
6. 2026-06-15
   days on market $245,000 Active 81 DOM
7. 2026-06-14
   remarks 699-char remark
8. 2026-06-14
   days on market $245,000 Active 79 DOM
9. 2026-06-12
   days on market $245,000 Active 78 DOM
10. 2026-06-09
    days on market $245,000 Active 75 DOM
11. 2026-06-08
    days on market $245,000 Active 74 DOM
12. 2026-06-07
    days on market $245,000 Active 73 DOM
13. 2026-06-05
    days on market $245,000 Active 70 DOM
14. 2026-06-03
    days on market $245,000 Active 69 DOM
15. 2026-06-02
    days on market $245,000 Active 68 DOM
16. 2026-06-01
    days on market $245,000 Active 67 DOM
17. 2026-05-31
    days on market $245,000 Active 66 DOM
18. 2026-05-30
    days on market $245,000 Active 65 DOM
19. 2026-03-26
    listed $245,000 Active 671-char remark

    Show marketing remark (682 chars)

    Charming Canadian Lakes Chalet on Double Corner Lot! Well-maintained and fully furnished chalet featuring vaulted ceilings, spacious loft, and rebuilt interior balcony overlooking the main living area. Located on a desirable corner property with two lots and partial main lake views. Enjoy year-round comfort with forced-air furnace, central A/C, brand new washer & dryer, and low-maintenance Trex decking. Fresh interior paint adds a bright, move-in-ready feel. Flexible layout and low-maintenance features offer a variety of use options. Canadian Lakes ownership includes access to private beaches, golf courses, indoor/outdoor pools, pickleball, dining, and more.

20. 2026-03-26
    listed $245,000 Active 682-char remark

    Show marketing remark (682 chars)

    Charming Canadian Lakes Chalet on Double Corner Lot! Well-maintained and fully furnished chalet featuring vaulted ceilings, spacious loft, and rebuilt interior balcony overlooking the main living area. Located on a desirable corner property with two lots and partial main lake views. Enjoy year-round comfort with forced-air furnace, central A/C, brand new washer & dryer, and low-maintenance Trex decking. Fresh interior paint adds a bright, move-in-ready feel. Flexible layout and low-maintenance features offer a variety of use options. Canadian Lakes ownership includes access to private beaches, golf courses, indoor/outdoor pools, pickleball, dining, and more.

21. 2026-03-26
    listed $245,000 Active

    Show marketing remark (682 chars)

    Charming Canadian Lakes Chalet on Double Corner Lot! Well-maintained and fully furnished chalet featuring vaulted ceilings, spacious loft, and rebuilt interior balcony overlooking the main living area. Located on a desirable corner property with two lots and partial main lake views. Enjoy year-round comfort with forced-air furnace, central A/C, brand new washer & dryer, and low-maintenance Trex decking. Fresh interior paint adds a bright, move-in-ready feel. Flexible layout and low-maintenance features offer a variety of use options. Canadian Lakes ownership includes access to private beaches, golf courses, indoor/outdoor pools, pickleball, dining, and more.

22. 2026-03-24
    historical $245,000

    Show marketing remark (682 chars)

    Charming Canadian Lakes Chalet on Double Corner Lot! Well-maintained and fully furnished chalet featuring vaulted ceilings, spacious loft, and rebuilt interior balcony overlooking the main living area. Located on a desirable corner property with two lots and partial main lake views. Enjoy year-round comfort with forced-air furnace, central A/C, brand new washer & dryer, and low-maintenance Trex decking. Fresh interior paint adds a bright, move-in-ready feel. Flexible layout and low-maintenance features offer a variety of use options. Canadian Lakes ownership includes access to private beaches, golf courses, indoor/outdoor pools, pickleball, dining, and more.

23. 2026-03-24
    historical $245,000 682-char remark

    Show marketing remark (682 chars)

    Charming Canadian Lakes Chalet on Double Corner Lot! Well-maintained and fully furnished chalet featuring vaulted ceilings, spacious loft, and rebuilt interior balcony overlooking the main living area. Located on a desirable corner property with two lots and partial main lake views. Enjoy year-round comfort with forced-air furnace, central A/C, brand new washer & dryer, and low-maintenance Trex decking. Fresh interior paint adds a bright, move-in-ready feel. Flexible layout and low-maintenance features offer a variety of use options. Canadian Lakes ownership includes access to private beaches, golf courses, indoor/outdoor pools, pickleball, dining, and more.

24. 2025-12-01
    historical $3,000
25. 2025-10-31
    listed $3,000
26. 2025-10-27
    historical
27. 2025-10-26
    historical
28. 2025-10-07
    price $255,000
29. 2025-10-06
    price $255,000
30. 2025-10-06
    price $255,000
31. 2025-09-11
    listed $259,900 Active
32. 2025-09-11
    listed $259,900 Active
33. 2024-09-27
    soldstatus $230,000
34. 2024-09-27
    soldstatus $230,000
35. 2024-09-20
    soldstatus $230,000 Sold
36. 2024-09-20
    soldstatus $230,000 Closed
37. 2024-09-20
    soldstatus $230,000 Sold
38. 2024-08-27
    status Pending
39. 2024-08-27
    status Pending
40. 2024-08-27
    status Pending
41. 2024-08-17
    historical Accepting Backup Offers
42. 2024-08-17
    historical Accepting Backup Offers
43. 2024-08-17
    historical Active - Backup Offers Accepted
44. 2024-03-29
    listed $245,000 Active
45. 2024-03-29
    listed $245,000 Active
46. 2024-03-29
    listed $245,000 Active
47. 2018-09-05
    soldstatus $10,000

ⓘ 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 2/10 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: $24,688
• − Mortgage interest: −$13,444
• − Property taxes: −$3,600
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,975
• − Management: −$1,975
• − HOA: −$1,800
• − Depreciation: −$6,982
• Taxable loss: −$6,288
• Est. tax savings @ 24.0%: +$1,509
• After-tax cash flow: $-691/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

+2350.0% since first listed

29 events — show timeline

• 2026-03-26 Listed $245,000 REALCOMP
• 2026-03-26 Listed $245,000 SW Michigan MLS
• 2026-03-26 Listed $245,000 MiRealSource-MiMLS
• 2026-03-24 Coming Soon $245,000 MiRealSource-MiMLS
• 2026-03-24 Coming Soon $245,000 SW Michigan MLS
• 2025-12-01 Rental Removed $3,000 Avail
• 2025-10-31 Listed for Rent $3,000 Avail
• 2025-10-27 Listing Removed — MiRealSource-MiMLS
• 2025-10-26 Listing Removed — REALCOMP
• 2025-10-07 Price Changed $255,000 MiRealSource-MiMLS
• 2025-10-06 Price Changed $255,000 REALCOMP
• 2025-10-06 Price Changed $255,000 SW Michigan MLS
• 2025-09-11 Listed $259,900 REALCOMP
• 2025-09-11 Listed $259,900 MiRealSource-MiMLS
• 2024-09-27 Sold (Public Records) $230,000 Public Records
• 2024-09-27 Sold (Public Records) $230,000 Public Records
• 2024-09-20 Sold (MLS) $230,000 SW Michigan MLS
• 2024-09-20 Sold (MLS) $230,000 MiRealSource-MiMLS
• 2024-09-20 Sold (MLS) $230,000 REALCOMP
• 2024-08-27 Pending — REALCOMP
• 2024-08-27 Pending — MiRealSource-MiMLS
• 2024-08-27 Pending — SW Michigan MLS
• 2024-08-17 Contingent — REALCOMP
• 2024-08-17 Contingent — MiRealSource-MiMLS
• 2024-08-17 Contingent — SW Michigan MLS
• 2024-03-29 Listed $245,000 SW Michigan MLS
• 2024-03-29 Listed $245,000 MiRealSource-MiMLS
• 2024-03-29 Listed $245,000 REALCOMP
• 2018-09-05 Sold (Public Records) $10,000 Public Records