12000 M-32 · Atlanta, MI 49709

$125,000

1 bd · 1.0 ba · 1,076 sqft · SingleFamily · 74 Days on market

Built 2005 1.46 ac lot $116/sqft · 9% above area Est $114k · 9% over

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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 +26.1/30.0
• Appreciation +10.0/10.0
• DSCR +8.8/10.0
• 1% rule +5.6/10.0
• ARV discount +3.3/15.0
• Schools +2.8/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Store Your Toys Up North! Great opportunity to own a versatile property along M-32 in Atlanta, MI. Situated on 1.46 acres, this 1,069 sq ft building features a spacious garage/bay area with two overhead doors, durable concrete floors, and additional storage - perfect for boats, snowmobiles, and all your up-north gear. The property also includes a small office area and bathroom, and offers the potential to be converted into a residential getaway or cabin-style retreat (subject to zoning approval). With plenty of space and easy access, it's an ideal spot for a weekend escape, storage hub, or future up-north home base.

Key facts

• Small office area
• Additional storage
• 1.46 acre lot

Tags

• SPACIOUS GARAGE BAY AREA
• DURABLE CONCRETE FLOORS
• ADDITIONAL STORAGE
• SMALL OFFICE AREA
• POTENTIAL TO BE CONVERTED

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $313 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $118k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 55/100 on livability (#666 in MI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: schools F, crime F, amenities F.
• Atlanta Community Schools (rural): math 25% / reading 35% proficiency, ranked #546 of 760 in MI (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 59 active listings in the ZIP.

Forward outlook

• In year one you build about $13k of equity ($864 loan paydown + $12k appreciation (10.0% local appreciation)).
• Montmorency County population projected at -38% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $28k; list at $125k implies a 346% gain — meaningful room to come down on a strong offer.

Recommended offer $117,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
7. 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.
8. 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: 1.06% ✓
• Cap rate: 9.30%
• Cash-on-cash: 10.74%
• DSCR: 1.48
• GRM: 7.9

CMA / ARV

• ARV (median comp): $114,257
• List price: $125,000
• Delta: 9.40%
• Verdict: FAIR
• Comps: 14 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12110 Doty St	0.32mi	2/1.0 (+1)	1,075 (-0%)	11mo	$136,500	$127	71
11655 M-32 Hwy	0.35mi	2/1.0 (+1)	1,036 (-4%)	10mo	$20,000	$19	64
12195 Doty St	0.30mi	2/1.0 (+1)	1,050 (-2%)	22mo	$63,000	$60	58
12572 State St	0.65mi	2/1.0 (+1)	1,114 (+4%)	7mo	$115,000	$103	53

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 32.1%
• Equity multiple: 3.51×
• Total profit: $87,965
• Equity at exit: $112,610

10-year hold

• IRR: 27.7%
• Equity multiple: 7.95×
• Total profit: $243,229
• Equity at exit: $242,848

Cash invested: $35,000 (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 49709

• Home prices YoY: 13.5%
• Active inventory: 59
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,320 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$22 /mo · $260/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $313

Break-even live

Break-even rent $923

Max offer price $125,000

Occupancy floor 71%

Sensitivity live

Price	-10% $384	-5% $349	+0% $313	+5% $135	+10% $92
Rent	-10% $209	-5% $261	+0% $313	+5% $365	+10% $417
Rate	-1.0pp $376	-0.5pp $345	base $313	+0.5pp $281	+1.0pp $248

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $125,000 Active 74 DOM
2. 2026-06-18
   days on market $125,000 Active 72 DOM
3. 2026-06-17
   days on market $125,000 Active 71 DOM
4. 2026-06-16
   days on market $125,000 Active 70 DOM
5. 2026-06-15
   days on market $125,000 Active 69 DOM
6. 2026-06-13
   days on market $125,000 Active 67 DOM
7. 2026-06-12
   days on market $125,000 Active 66 DOM
8. 2026-06-09
   days on market $125,000 Active 63 DOM
9. 2026-06-08
   days on market $125,000 Active 62 DOM
10. 2026-06-07
    days on market $125,000 Active 61 DOM
11. 2026-06-07
    days on market $125,000 Active 60 DOM
12. 2026-06-04
    days on market $125,000 Active 57 DOM
13. 2026-06-02
    days on market $125,000 Active 56 DOM
14. 2026-06-01
    days on market $125,000 Active 55 DOM
15. 2026-05-31
    days on market $125,000 Active 54 DOM
16. 2026-05-31
    days on market $125,000 Active 53 DOM
17. 2026-04-01
    listed $125,000 Active 623-char remark

    Show marketing remark (633 chars)

    Store Your Toys Up North! Great opportunity to own a versatile property along M-32 in Atlanta, MI. Situated on 1.46 acres, this 1,069 sq ft building features a spacious garage/bay area with two overhead doors, durable concrete floors, and additional storage—perfect for boats, snowmobiles, and all your up-north gear. The property also includes a small office area and bathroom, and offers the potential to be converted into a residential getaway or cabin-style retreat (subject to zoning approval). With plenty of space and easy access, it’s an ideal spot for a weekend escape, storage hub, or future up-north home base.

18. 2026-04-01
    listed $125,000 Active 633-char remark

    Show marketing remark (633 chars)

    Store Your Toys Up North! Great opportunity to own a versatile property along M-32 in Atlanta, MI. Situated on 1.46 acres, this 1,069 sq ft building features a spacious garage/bay area with two overhead doors, durable concrete floors, and additional storage—perfect for boats, snowmobiles, and all your up-north gear. The property also includes a small office area and bathroom, and offers the potential to be converted into a residential getaway or cabin-style retreat (subject to zoning approval). With plenty of space and easy access, it’s an ideal spot for a weekend escape, storage hub, or future up-north home base.

19. 2025-06-13
    listed $125,000 Active
20. 2004-09-21
    soldstatus $28,000
21. 1994-10-19
    soldstatus $20,000

ⓘ 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: $260 · $22/mo
• Projected year-2 tax: $1,093 · $91/mo
• Expected delta: +$832/yr (+$69/mo · 319.9%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate 24% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥94°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: $15,835
• − Mortgage interest: −$7,002
• − Property taxes: −$260
• − Insurance: −$625
• − Repairs & maintenance: −$1,267
• − Management: −$1,267
• − Depreciation: −$3,636
• Taxable income: $1,778
• Est. tax owed @ 24.0%: −$427
• After-tax cash flow: $3,332/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: Atlanta Community Schools
• NCES district ID: 2603570
• Math proficiency: 25% ▲ 5.00%
• Reading proficiency: 35% ▲ 10.00%
• Median HH income: $35,004
• Composite: 27.59/100
• National rank: #12347
• State rank: #546 of 760 in MI

Livability — Atlanta

• Score: 55/100
• State rank: #666
• US rank: #23333

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Atlanta, MI
• Population (ZIP): 3,524

Population outlook (Montmorency County) Hauer SSP2

• Today (2025): 8,233 people
• By 2030: 7,575 · -8.0%
• By 2040: 6,202 · -24.7%
• By 2050: 5,081 · -38.3%
• By 2075: 3,119 · -62.1%
• By 2100: 1,923 · -76.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 11% Lithuanian 7% Slovak 6%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Other Asian/Pacific 1% Spanish 1%

Political lean MEDSL · Montmorency

• 2024 margin: Solid R (+45.3) · D 26.6% · R 72.0% · Other 1.4%
• 2008→2024 swing: -37.2pp toward R · 2008: -8.2pp · 2024: -45.3pp
• All cycles: 2024: R+45.3 2020: R+43.4 2016: R+44.2 2012: R+17.4 2008: R+8.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 42.88%
• Current HPI: 361.3052
• 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

+525.0% since first listed

5 events — show timeline

• 2026-04-01 Listed $125,000 REALCOMP
• 2026-04-01 Listed $125,000 MiRealSource-MiMLS
• 2025-06-13 Listed $125,000 WWMLS
• 2004-09-21 Sold (Public Records) $28,000 Public Records
• 1994-10-19 Sold (Public Records) $20,000 Public Records

Property tax history

+3.1%/yr

Latest (2024): $260 · -25.0% YoY. Source: county tax records.