1193 E 15 Mile Rd · Bruce, MI 49724

$185,000

3 bd · 1.0 ba · 1,920 sqft · Manufactured public records · 6 Days on market

Manufactured home Built 1989 3.24 ac lot

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Why this score? — see what drove the F 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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +6.1/30.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.4/10.0
• 1% rule +0.1/10.0

Listing remarks MLS

Move in ready house with easy access to the Sault, Kinross or Pickford. Three bedroom, one bath, 2.5 car attached garage with updates plus 3 acres. Only 5 miles from Barbeau boat launch. Must see!!! Call for appointment.

Key facts

• Attached garage
• 3 sprawling acres
• 3.24 acre lot

Tags

• ATTACHED GARAGE
• 3 SPRAWLING ACRES
• PEACEFUL RURAL ESCAPE

Property features AI

Exterior

• Utilities: Well water; Septic tank; Electric service on property
• Home design: Manufactured home; One story
• Construction: Vinyl siding; Block foundation; Built as a manufactured home
• Exterior features: Few trees; Asphalt roof

Interior

• Kitchen: Gas range; Range hood
• Bedrooms: Total rooms: 9
• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Propane heating; No central cooling
• Interior features: Ceiling fan(s); Double pane windows
• Laundry & utility: Washer; Dryer (main level)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $185k.

Deal economics

• At list price, monthly cash flow is $-349 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $123k (33.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $95k (48.6% below list).
• Recommended offer: $95k (48.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• Sault Ste. Marie Area Schools (town): math 35% / reading 44% proficiency, ranked #230 of 540 in MI (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sault Area Middle School (math 35% / reading 46%, grade F, #202 of 493 statewide, top 42%, 533 students, 50% FRL).
• Market conditions: 3 active listings in the ZIP; 92 units permitted in Chippewa County in 2024 (40 in 5+ unit buildings).

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Chippewa County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 9y 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 $185k implies a 137% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $95,044 (48.6% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.51% ✗
• Cap rate: 4.03%
• Cash-on-cash: -8.08%
• DSCR: 0.64
• GRM: 16.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.6%
• Equity multiple: 2.51×
• Total profit: $78,441
• Equity at exit: $166,663

10-year hold

• IRR: 17.2%
• Equity multiple: 5.79×
• Total profit: $248,280
• Equity at exit: $359,414

Cash invested: $51,800 (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 49724

• Home prices YoY: 14.1%
• Active inventory: 3
• Price-to-rent: 16.2×

Monthly cashflow live

• Estimated rent: $950 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$52 /mo · $630/yr
• Insurance: −$77
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $-349

Break-even live

Break-even rent $1,392

Max offer price $123,373

Occupancy floor —

Sensitivity live

Price	-10% $-244	-5% $-296	+0% $-349	+5% $-401	+10% $-454
Rent	-10% $-424	-5% $-386	+0% $-349	+5% $-311	+10% $-274
Rate	-1.0pp $-256	-0.5pp $-302	base $-349	+0.5pp $-397	+1.0pp $-446

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-22
   days on market $185,000 Active 6 DOM
2. 2026-06-21
   days on market $185,000 Active 5 DOM
3. 2026-06-21
   days on market $185,000 Active 4 DOM
4. 2026-06-18
   days on market $185,000 Active 2 DOM
5. 2026-06-17
   remarks 699-char remark
6. 2026-06-17
   listed $185,000 Active 1 DOM

ⓘ 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: $630 · $52/mo
• Projected year-2 tax: $1,739 · $145/mo
• Expected delta: +$1,110/yr (+$92/mo · 176.3%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥87°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,405
• − Mortgage interest: −$10,363
• − Property taxes: −$630
• − Insurance: −$925
• − Repairs & maintenance: −$912
• − Management: −$912
• − Depreciation: −$5,382
• Taxable loss: −$7,719
• Est. tax savings @ 24.0%: +$1,853
• After-tax cash flow: $-2,334/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: Sault Ste. Marie Area Schools
• NCES district ID: 2630990
• Math proficiency: 35% ▼ -9.00%
• Reading proficiency: 44% ▼ -12.00%
• Median HH income: $40,273
• Composite: 33.12/100
• National rank: #5559
• State rank: #230 of 540 in MI

Livability — Bruce

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 1,172

Population outlook (Chippewa County) Hauer SSP2

• Today (2025): 37,043 people
• By 2030: 36,431 · -1.7%
• By 2040: 34,911 · -5.8%
• By 2050: 33,350 · -10.0%
• By 2075: 29,789 · -19.6%
• By 2100: 24,171 · -34.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Two or more races 6% Asian 6% Native American 6% Hispanic / Latino 1% Pacific Islander 1%
• Common ancestry: Lithuanian 11% Iranian 6% Romanian 5%
• Foreign-born: 4% · China, Canada, Vietnam
• Languages at home: 98% English-only · Chinese 2%

Political lean MEDSL · Chippewa

• 2024 margin: Strong R (+24.2) · D 37.0% · R 61.3% · Other 1.7%
• 2008→2024 swing: -23.8pp toward R · 2008: -0.5pp · 2024: -24.2pp
• All cycles: 2024: R+24.2 2020: R+22.9 2016: R+24.2 2012: R+7.6 2008: R+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 25.80%
• Current HPI: 208.6557
• 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

+107.9% since first listed

4 events — show timeline

• 2026-06-17 Listed $185,000 EUPBR
• 2017-09-27 Sold (Public Records) $78,000 Public Records
• 2017-09-27 Sold (MLS) — EUPBR
• 2017-07-18 Listed $89,000 EUPBR

Property tax history

-3.3%/yr

Latest (2024): $630 · -9.7% YoY. Source: county tax records.