1004 John St · Sault Ste. Marie, MI 49783

$150,000

4 bd · 2.0 ba · 1,072 sqft · SingleFamily public records · 27 Days on market

Built 1900 5,200 sqft lot Est $132k · 14% over

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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).

• Cash flow +19.4/30.0
• DSCR +6.1/10.0
• 1% rule +4.5/10.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.3/15.0
• Appreciation +0.0/10.0

Listing remarks

Unlock incredible value three-bedroom, 1.5-bath residence in the heart of Sault Ste. Marie, Michigan. Perfectly situated just blocks from Lake Superior State University (LSSU), this property is a standout choice for those looking to build equity in a high-demand rental and residential area. The Potential:With a fresh coat of paint, a nice deep clean, and new carpeting, the transformation will be immediate. For the savvy buyer, this minimal investment will yield surprising results in both comfort and property value. Property Highlights:Location: Unbeatable proximity to the LSSU campus, making it ideal for faculty, students, or university staff. Layout: A functional three-bedroom floor plan w

Key facts

• Fresh coat of paint
• New carpeting
• 5,200 sq ft lot

Tags

• HIGH DEMAND RENTAL AREA
• FRESH COAT OF PAINT
• NEW CARPETING

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $168 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $143k (4.9% below list).
• Recommended offer: $143k (4.9% below list) — sets the bar for 1% rule.
• Cap rate 7.6% vs local median 4.4% in Sault Ste. Marie — 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: area grade D — 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: 129 active listings in the ZIP; 92 units permitted in Chippewa County in 2024 (40 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 $4k of value loss. Plan a longer hold.
• Chippewa County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $142,632 (4.9% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.95% ✗
• Cap rate: 7.64%
• Cash-on-cash: 4.81%
• DSCR: 1.21
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $131,856
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1211 Minneapolis St	0.31mi	4/2.0	1,100 (+3%)	3mo	$200,000	$182	79
810 Court St	0.16mi	3/1.5 (-1)	985 (-8%)	2mo	$75,000	$76	70
605 Newton Ave	0.28mi	3/1.5 (-1)	1,130 (+5%)	4mo	$168,000	$149	68
816 Court St	0.14mi	3/1.0 (-1)	1,146 (+7%)	10mo	$120,000	$105	65
906 John	0.08mi	3/1.0 (-1)	1,232 (+15%)	3mo	$155,000	$126	60
811 Augusta St	0.28mi	3/1.0 (-1)	995 (-7%)	12mo	$149,900	$151	56
1612 Minneapolis St	0.48mi	3/1.0 (-1)	1,002 (-6%)	3mo	$95,000	$95	55
116 W 12th Ave	0.57mi	3/1.5 (-1)	1,020 (-5%)	10mo	$160,000	$157	50
911 E 4th Ave	0.47mi	3/1.5 (-1)	1,172 (+9%)	9mo	$62,000	$53	48
123 W 10th Ave	0.45mi	3/1.0 (-1)	1,200 (+12%)	3mo	$85,000	$71	47
121 W 12th Ave	0.60mi	3/1.0 (-1)	1,008 (-6%)	8mo	$124,468	$123	46
123 W 12th Ave	0.60mi	3/2.0 (-1)	1,196 (+12%)	7mo	$127,500	$107	42

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: -8.8%
• Equity multiple: 0.68×
• Total profit: $-13,613
• Equity at exit: $22,365

10-year hold

• IRR: 0.6%
• Equity multiple: 1.04×
• Total profit: $1,843
• Equity at exit: $12,969

Cash invested: $42,000 (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 49783

• Active inventory: 129
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,426 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$109 /mo · $1,312/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $168

Break-even live

Break-even rent $1,213

Max offer price $150,000

Occupancy floor 83%

Sensitivity live

Price	-10% $253	-5% $211	+0% $168	+5% $126	+10% $83
Rent	-10% $56	-5% $112	+0% $168	+5% $225	+10% $281
Rate	-1.0pp $244	-0.5pp $206	base $168	+0.5pp $129	+1.0pp $90

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-04-20
   status Pending
2. 2026-03-24
   listed $150,000 Active

ⓘ 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: $1,312 · $109/mo
• Projected year-2 tax: $1,811 · $151/mo
• Expected delta: +$499/yr (+$42/mo · 38.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥88°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: $17,116
• − Mortgage interest: −$8,402
• − Property taxes: −$1,312
• − Insurance: −$750
• − Repairs & maintenance: −$1,369
• − Management: −$1,369
• − Depreciation: −$4,364
• Taxable loss: −$451
• Est. tax savings @ 24.0%: +$108
• After-tax cash flow: $2,128/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 — Sault Ste. Marie

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

Census & demographics

• Census place: Sault Ste. Marie, MI
• Population (ZIP): 18,778

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 (70%)
• Race & ethnicity: White 70% Native American 14% Two or more races 13% Hispanic / Latino 2%
• Common ancestry: Lithuanian 6% Romanian 6% Slovak 4%
• Foreign-born: 4% · Canada, Vietnam, Guatemala
• Languages at home: 95% English-only · Spanish 1% Other Indo-European 1% German/W. Germanic 1%

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: ▼ -183.63%
• Current HPI: 149.9878
• 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

2 events — show timeline

• 2026-04-20 Pending — EUPBR
• 2026-03-24 Listed $150,000 EUPBR

Property tax history

-0.3%/yr

Latest (2024): $1,312 · +192.7% YoY. Source: county tax records.