1246 Sunnyside Unit 102 week 2 · Cadillac, MI 49601

$29,900

2 bd · 2.0 ba · 998 sqft · Condo · 88 Days on market

Built 2001 Good condition $30/sqft · 70% below area $157/mo HOA · 14% of rent

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful 2 bedroom 2 bath condo located on the ground floor. This is a fractional ownership opportunity at allows 6 weeks of usage. The condo overlooks beautiful Lake Cadillac and offers 420 of private lake frontage to enjoy! The open concept floorplan offer sweeping vies of Lake Cadillac! The units if fully furnished, kitchen utensils, linens, everything is included, just bring your personal items and enjoy! The property offers a fire pit, shared sitting dock and boat slip available based upon availability. Amenities include access to members lounge, heated indoor swimming pool, hot tub and exercise area.

Key facts

• Hot tub
• Shared sitting dock
• Fire pit

Tags

• PRIVATE LAKE FRONTAGE
• FIRE PIT
• SHARED SITTING DOCK
• BOAT SLIP
• HEATED INDOOR SWIMMING POOL
• HOT TUB

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $30k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $505 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $28k (6.0% below list) — sets the bar for market timing.
• Cap rate 26.6% vs local median 4.0% in Cadillac — 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 70/100 on livability (#312 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Cadillac Area Public Schools (town): math 45% / reading 53% proficiency, ranked #120 of 540 in MI (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 218 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 130 units permitted in Wexford County in 2024 (50 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $897 of value loss. Plan a longer hold.
• Wexford County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($28k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y 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 $15k; list at $30k implies a 99% gain — meaningful room to come down on a strong offer.

Recommended offer $28,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 3.68% ✓
• Cap rate: 26.55%
• Cash-on-cash: 72.36%
• DSCR: 4.22
• GRM: 2.3

CMA / ARV

• ARV (median comp): $99,821
• List price: $29,900
• Delta: -70.05%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 72.2%
• Equity multiple: 4.28×
• Total profit: $27,423
• Equity at exit: $4,458

10-year hold

• IRR: 76.1%
• Equity multiple: 8.85×
• Total profit: $65,743
• Equity at exit: $2,585

Cash invested: $8,372 (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 49601

• Home prices YoY: -19.9%
• Active inventory: 218
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,099 medium
• Mortgage (P&I): −$157
• Tax est. 1.5%: −$37 /mo · $448/yr
• Insurance: −$12
• HOA: −$157
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $505

Break-even live

Break-even rent $460

Max offer price $29,900

Occupancy floor 49%

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
300 Kristy Jo St Cadillac, MI	2.0	2.0	896	$1,099	$1.23	44d	1	1.16mi
213 Pearl St Unit 2W Cadillac, MI	2.0	1.0	575	$1,100	$1.91	44d	1	1.35mi

HOA detail condo

• Monthly dues: $157 · $1,884/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-18
   days on market $29,900 Active 88 DOM
2. 2026-06-17
   days on market $29,900 Active 87 DOM
3. 2026-06-16
   days on market $29,900 Active 86 DOM
4. 2026-06-15
   days on market $29,900 Active 85 DOM
5. 2026-06-13
   days on market $29,900 Active 83 DOM
6. 2026-06-09
   days on market $29,900 Active 82 DOM
7. 2026-06-08
   days on market $29,900 Active 81 DOM
8. 2026-06-07
   days on market $29,900 Active 80 DOM
9. 2026-06-07
   days on market $29,900 Active 79 DOM
10. 2026-06-04
    days on market $29,900 Active 76 DOM
11. 2026-06-02
    days on market $29,900 Active 75 DOM
12. 2026-06-01
    days on market $29,900 Active 74 DOM
13. 2026-05-31
    days on market $29,900 Active 73 DOM
14. 2026-05-31
    days on market $29,900 Active 72 DOM
15. 2026-03-19
    listed $29,900 Active 614-char remark

    Show marketing remark (614 chars)

    Beautiful 2 bedroom 2 bath condo located on the ground floor. This is a fractional ownership opportunity at allows 6 weeks of usage. The condo overlooks beautiful Lake Cadillac and offers 420 of private lake frontage to enjoy! The open concept floorplan offer sweeping vies of Lake Cadillac! The units if fully furnished, kitchen utensils, linens, everything is included, just bring your personal items and enjoy! The property offers a fire pit, shared sitting dock and boat slip available based upon availability. Amenities include access to members lounge, heated indoor swimming pool, hot tub and exercise area.

16. 2010-08-30
    soldstatus $14,999 471-char remark

    Show marketing remark (471 chars)

    Affordable Recreational 2 Bed/2 Bath Lakefront Condos available at this price for a limited time! Enjoy the benefits of fractional ownership in a fully furnishedlakefront condo on Lake Cadillac. Dock priviledges, private beach and campfire pit. Plus a completely outfitted clubhouse offering fitness room, pool andlounge for Association or private gatherings. With ownership is membership to Interval International allows you to trade your week to other areas in the USA.

17. 2010-06-07
    listed $14,999 471-char remark

    Show marketing remark (471 chars)

    Affordable Recreational 2 Bed/2 Bath Lakefront Condos available at this price for a limited time! Enjoy the benefits of fractional ownership in a fully furnishedlakefront condo on Lake Cadillac. Dock priviledges, private beach and campfire pit. Plus a completely outfitted clubhouse offering fitness room, pool andlounge for Association or private gatherings. With ownership is membership to Interval International allows you to trade your week to other areas in the USA.

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

Taxation est. · year 1

• Rental income: $13,192
• − Mortgage interest: −$1,675
• − Property taxes: −$448
• − Insurance: −$150
• − Repairs & maintenance: −$1,055
• − Management: −$1,055
• − HOA: −$1,884
• − Depreciation: −$870
• Taxable income: $6,055
• Est. tax owed @ 24.0%: −$1,453
• After-tax cash flow: $4,605/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This well-maintained and updated condo is in good condition with no major repairs needed. It offers a good investment opportunity with potential for value increase through minor cosmetic updates.

Value-add opportunities

• Resale Paint the exterior siding — Painting the exterior siding can enhance the curb appeal and make the property more attractive to potential buyers.
• Rental Clean the windows — Clean windows can make the property more appealing to tenants and reduce maintenance costs.
• Both Inspect and clean the HVAC filters — Regular maintenance of the HVAC system can improve energy efficiency and reduce utility costs.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint the exterior siding — Painting the exterior siding can enhance the curb appeal and make the property more attractive to potential buyers. ↑
• Rental Clean the windows — Clean windows can make the property more appealing to tenants and reduce maintenance costs. ↑
• Both Inspect and clean the HVAC filters — Regular maintenance of the HVAC system can improve energy efficiency and reduce utility costs. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Cadillac Area Public Schools
• NCES district ID: 2607590
• Math proficiency: 45% ▼ -6.00%
• Reading proficiency: 53% ▼ -4.00%
• Median HH income: $41,543
• Composite: 41.12/100
• National rank: #3562
• State rank: #120 of 540 in MI

Livability — Cadillac

• Score: 70/100
• State rank: #312
• US rank: #7631

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cadillac, MI
• Population (ZIP): 22,121

Population outlook (Wexford County) Hauer SSP2

• Today (2025): 32,399 people
• By 2030: 31,692 · -2.2%
• By 2040: 29,789 · -8.1%
• By 2050: 27,473 · -15.2%
• By 2075: 21,822 · -32.6%
• By 2100: 15,237 · -53.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 2% Black 1%
• Common ancestry: Iranian 7% Romanian 6% Lithuanian 4%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Wexford

• 2024 margin: Solid R (+34.6) · D 32.0% · R 66.6% · Other 1.5%
• 2008→2024 swing: -30.4pp toward R · 2008: -4.2pp · 2024: -34.6pp
• All cycles: 2024: R+34.6 2020: R+34.3 2016: R+36.4 2012: R+16.3 2008: R+4.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -85.43%
• Current HPI: 344.1577
• 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

+99.3% since first listed

3 events — show timeline

• 2026-03-19 Listed $29,900 MiRealSource-MiMLS
• 2010-08-30 Sold (MLS) $14,999 MiRealSource-MiMLS
• 2010-06-07 Listed $14,999 MiRealSource-MiMLS