1246 Sunnyside Unit 206 WK 1 · Cadillac, MI 49601

$27,000

2 bd · 2.0 ba · 998 sqft · Condo · 161 Days on market

Built 2001 Good condition $27/sqft · 73% 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 +4.0/5.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Gorgeous 2 bedroom, 2 bath condo located on Lake Cadillac! This fractional ownership opportunity is 6 weeks of usage per year. This unit is week 1. Usage calendar available upon request. This unit is located on the third floor and has been fully renovated. The condo has a private balcony overlooking Lake Cadillac, the living room and kitchen overlook the water as well. The property offers 420'of private beach, dock space available, sitting dock , fire pit and shared grills. Amenities include Members Lounge, indoor swimming pool, hot tub and workout area. Sunset Shores resort participates in Interval International Exchange program that allows you to trade your time to other travel destination in over 80 countries. The Owner of the unit has 2 (1/8th's) and will to sell both weeks, week 1 and week 5 as a packaged deal.

Key facts

• Hot tub
• Indoor swimming pool
• Private balcony

Tags

• PRIVATE BALCONY
• PRIVATE BEACH
• DOCK SPACE
• FIRE PIT
• INDOOR SWIMMING POOL
• HOT TUB

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $27k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $525 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $27k).
• Recommended offer: $24k (12.0% below list) — sets the bar for market timing.
• Cap rate 29.6% 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 $187 of loan paydown is wiped out by about $810 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 161 days — a 12% lower offer ($24k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 11y 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 $23,760 (12.0% below list)

Questions for the listing agent

1. It's been on market 161 days. Have you received any prior offers? Is the seller open to a 12% 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: 4.07% ✓
• Cap rate: 29.62%
• Cash-on-cash: 83.32%
• DSCR: 4.71
• GRM: 2.0

CMA / ARV

• ARV (median comp): $99,821
• List price: $27,000
• Delta: -72.95%
• 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: 83.8%
• Equity multiple: 4.86×
• Total profit: $29,169
• Equity at exit: $4,026

10-year hold

• IRR: 87.1%
• Equity multiple: 10.11×
• Total profit: $68,908
• Equity at exit: $2,334

Cash invested: $7,560 (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: 2.0×

Monthly cashflow live

• Estimated rent: $1,099 medium
• Mortgage (P&I): −$142
• Tax est. 1.5%: −$34 /mo · $405/yr
• Insurance: −$11
• HOA: −$157
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $525

Break-even live

Break-even rent $435

Max offer price $27,000

Occupancy floor 47%

Sensitivity live

Price	-10% $544	-5% $534	+0% $525	+5% $516	+10% $506
Rent	-10% $438	-5% $481	+0% $525	+5% $568	+10% $612
Rate	-1.0pp $539	-0.5pp $532	base $525	+0.5pp $518	+1.0pp $511

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: $6,750
• Closing costs: $810
• 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: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 38 events

1. 2026-06-18
   days on market $27,000 Active 161 DOM
2. 2026-06-17
   days on market $27,000 Active 160 DOM
3. 2026-06-16
   days on market $27,000 Active 159 DOM
4. 2026-06-15
   days on market $27,000 Active 158 DOM
5. 2026-06-13
   days on market $27,000 Active 156 DOM
6. 2026-06-12
   days on market $27,000 Active 155 DOM
7. 2026-06-09
   days on market $27,000 Active 152 DOM
8. 2026-06-08
   days on market $27,000 Active 151 DOM
9. 2026-06-07
   days on market $27,000 Active 150 DOM
10. 2026-06-07
    days on market $27,000 Active 149 DOM
11. 2026-06-04
    days on market $27,000 Active 146 DOM
12. 2026-06-02
    days on market $27,000 Active 145 DOM
13. 2026-06-01
    days on market $27,000 Active 144 DOM
14. 2026-05-31
    days on market $27,000 Active 143 DOM
15. 2026-05-31
    days on market $27,000 Active 142 DOM
16. 2026-01-08
    listed $27,000 Active 827-char remark

    Show marketing remark (827 chars)

    Gorgeous 2 bedroom, 2 bath condo located on Lake Cadillac! This fractional ownership opportunity is 6 weeks of usage per year. This unit is week 1. Usage calendar available upon request. This unit is located on the third floor and has been fully renovated. The condo has a private balcony overlooking Lake Cadillac, the living room and kitchen overlook the water as well. The property offers 420'of private beach, dock space available, sitting dock , fire pit and shared grills. Amenities include Members Lounge, indoor swimming pool, hot tub and workout area. Sunset Shores resort participates in Interval International Exchange program that allows you to trade your time to other travel destination in over 80 countries. The Owner of the unit has 2 (1/8th's) and will to sell both weeks, week 1 and week 5 as a packaged deal.

17. 2025-12-20
    historical
18. 2025-12-05
    soldstatus $24,000 Closed
19. 2025-11-24
    historical Accepting Backup Offers
20. 2025-06-17
    price $25,000
21. 2025-05-14
    price $25,000
22. 2024-12-27
    listed $26,900 Active
23. 2024-11-26
    price $26,900
24. 2024-01-18
    listed $29,995 Active
25. 2020-06-12
    soldstatus $20,750
26. 2019-09-30
    listed $21,500
27. 2019-03-29
    soldstatus $14,500
28. 2019-03-08
    listed $17,500
29. 2018-11-19
    soldstatus $14,500
30. 2018-10-31
    listed $17,500
31. 2017-09-30
    historical
32. 2017-09-29
    historical
33. 2017-08-25
    soldstatus $17,500
34. 2016-06-16
    listed $37,000
35. 2016-04-26
    soldstatus $100,000
36. 2016-02-27
    listed $18,500
37. 2016-02-27
    listed $18,500
38. 2015-04-27
    listed $120,000

ⓘ 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: −$1,512
• − Property taxes: −$405
• − Insurance: −$135
• − Repairs & maintenance: −$1,055
• − Management: −$1,055
• − HOA: −$1,884
• − Depreciation: −$785
• Taxable income: $6,360
• Est. tax owed @ 24.0%: −$1,526
• After-tax cash flow: $4,773/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 · 12 photos

Good 80/100 Cosmetic rehab

This fully renovated 2-bedroom, 2-bath condo offers a private balcony and waterfront views. It's located in a well-maintained community with amenities like a swimming pool and gym.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Replace carpet with hardwood flooring — Improves aesthetics and increases value
• Both Install smart home technology — Enhances convenience and adds modern appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace carpet with hardwood flooring — Improves aesthetics and increases value ↑
• Both Install smart home technology — Enhances convenience and adds modern appeal ↑

ⓘ 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

-77.5% since first listed

23 events — show timeline

• 2026-01-08 Listed $27,000 MiRealSource-MiMLS
• 2025-12-20 Listing Removed — MiRealSource-MiMLS
• 2025-12-05 Sold (MLS) $24,000 MiRealSource-MiMLS
• 2025-11-24 Contingent — MiRealSource-MiMLS
• 2025-06-17 Price Changed $25,000 MiRealSource-MiMLS
• 2025-05-14 Price Changed $25,000 MiRealSource-MiMLS
• 2024-12-27 Listed $26,900 MiRealSource-MiMLS
• 2024-11-26 Price Changed $26,900 MiRealSource-MiMLS
• 2024-01-18 Listed $29,995 MiRealSource-MiMLS
• 2020-06-12 Sold (MLS) $20,750 MiRealSource-MiMLS
• 2019-09-30 Listed $21,500 MiRealSource-MiMLS
• 2019-03-29 Sold (MLS) $14,500 MiRealSource-MiMLS
• 2019-03-08 Listed $17,500 MiRealSource-MiMLS
• 2018-11-19 Sold (MLS) $14,500 MiRealSource-MiMLS
• 2018-10-31 Listed $17,500 MiRealSource-MiMLS
• 2017-09-30 Listing Removed — MiRealSource-MiMLS
• 2017-09-29 Listing Removed — MiRealSource-MiMLS
• 2017-08-25 Sold (MLS) $17,500 MiRealSource-MiMLS
• 2016-06-16 Listed $37,000 MiRealSource-MiMLS
• 2016-04-26 Sold (MLS) $100,000 MiRealSource-MiMLS
• 2016-02-27 Listed $18,500 MiRealSource-MiMLS
• 2016-02-27 Listed $18,500 MiRealSource-MiMLS
• 2015-04-27 Listed $120,000 MiRealSource-MiMLS