1518 E Mcmillan Rd · Dalton, MI 49445

$249,900

3 bd · 1.5 ba · 1,040 sqft · SingleFamily public records · 4 Days on market

Built 2002 0.67 ac lot

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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 +11.4/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +3.3/10.0
• Schools +3.2/10.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Nestled in a quiet, serene neighborhood within the Reeths-Puffer School District, this well-maintained 3-bedroom, 1.5-bath ranch offers comfortable, turnkey living all on one level. New carpet throughout adds a fresh touch, while the Generac whole-house generator provides added peace of mind. The attached 2-stall garage offers convenience and storage, and the nice-sized lot provides plenty of outdoor space to enjoy. Step out onto the back deck and take in the peaceful surroundings. Conveniently located near shopping, restaurants, medical facilities, and highway access, this move-in-ready home combines comfort, convenience, and a desirable location.

Key facts

• Nice-sized lot
• Back deck
• 0.67 acre lot

Tags

• WHOLE-HOUSE GENERATOR
• ATTACHED 2-STALL GARAGE
• BACK DECK
• NICE-SIZED LOT

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Natural gas connected; Cable connected
• Home design: Ranch-style single-family home; Built in 2002
• Construction: Aluminum siding; Composition roof; Built in 2002
• Exterior features: Corner lot; Well water

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating
• Interior features: Eat-in kitchen; Crawl space basement; Seven total rooms
• Laundry & utility: Washer; Dryer; Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $-85 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $235k (6.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $188k (24.8% below list).
• Recommended offer: $188k (24.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Reeths-Puffer Schools (suburban): math 28% / reading 44% proficiency, ranked #254 of 540 in MI (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Twin Lake School (math 27% / reading 47%, grade F, #685 of 1,397 statewide, top 51%, 212 students, 57% FRL); Reethspuffer Middle School (math 29% / reading 54%, grade F, #192 of 493 statewide, top 39%, 542 students, 55% FRL); Reethspuffer High School (math 25% / reading 54%, grade F, #304 of 713 statewide, top 46%, 1,177 students, 53% FRL) — zoned schools average 55% FRL vs 40% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 144 active listings in the ZIP; 438 units permitted in Muskegon County in 2024 (115 in 5+ unit buildings).

Forward outlook

• In year one you build about $27k of equity ($2k loan paydown + $25k appreciation (10.0% local appreciation)).
• Muskegon County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 $22k; list at $250k implies a 1036% gain — meaningful room to come down on a strong offer.

Recommended offer $187,801 (24.8% 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: 0.75% ✗
• Cap rate: 5.88%
• Cash-on-cash: -1.46%
• DSCR: 0.93
• GRM: 11.1

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: 23.2%
• Equity multiple: 2.87×
• Total profit: $130,600
• Equity at exit: $225,130

10-year hold

• IRR: 20.7%
• Equity multiple: 6.56×
• Total profit: $388,732
• Equity at exit: $485,501

Cash invested: $69,972 (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 49445

• Home prices YoY: 7.2%
• Active inventory: 144
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $1,878 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$154 /mo · $1,852/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $-85

Break-even live

Break-even rent $1,986

Max offer price $234,831

Occupancy floor 100%

Sensitivity live

Price	-10% $56	-5% $-15	+0% $-85	+5% $-156	+10% $-227
Rent	-10% $-234	-5% $-159	+0% $-85	+5% $-11	+10% $63
Rate	-1.0pp $41	-0.5pp $-22	base $-85	+0.5pp $-150	+1.0pp $-216

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-21
   days on market $249,900 Active 4 DOM
2. 2026-06-19
   days on market $249,900 Active 2 DOM
3. 2026-06-18
   remarks 656-char remark
4. 2026-06-18
   listed $249,900 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: $1,852 · $154/mo
• Projected year-2 tax: $2,850 · $238/mo
• Expected delta: +$998/yr (+$83/mo · 53.9%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥94°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,536
• − Mortgage interest: −$13,998
• − Property taxes: −$1,852
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,803
• − Management: −$1,803
• − Depreciation: −$7,270
• Taxable loss: −$5,439
• Est. tax savings @ 24.0%: +$1,305
• After-tax cash flow: $282/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: Reeths-Puffer Schools
• NCES district ID: 2629540
• Math proficiency: 28% ▼ -9.00%
• Reading proficiency: 44% ▼ -4.00%
• Median HH income: $55,223
• Composite: 31.62/100
• National rank: #5942
• State rank: #254 of 540 in MI

Livability — Dalton

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

Census & demographics

• Population (ZIP): 21,090

Population outlook (Muskegon County) Hauer SSP2

• Today (2025): 174,032 people
• By 2030: 173,365 · -0.4%
• By 2040: 168,877 · -3.0%
• By 2050: 160,306 · -7.9%
• By 2075: 134,426 · -22.8%
• By 2100: 98,836 · -43.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 8% Hispanic / Latino 6% Black 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Iranian 10% Romanian 4% Italian 3%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 4%

Political lean MEDSL · Muskegon

• 2024 margin: Toss-up / Even · D 48.4% · R 50.2% · Other 1.5%
• 2008→2024 swing: -31.1pp toward R · 2008: 29.3pp · 2024: -1.8pp
• All cycles: 2024: R+1.8 2020: D+0.6 2016: D+0.9 2012: D+17.8 2008: D+29.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 40.82%
• Current HPI: 605.31
• 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

+1035.9% since first listed

4 events — show timeline

• 2026-06-17 Listed $249,900 REALCOMP
• 2026-06-17 Listed $249,900 MiRealSource-MiMLS
• 2026-06-17 Listed $249,900 SW Michigan MLS
• 2001-10-05 Sold (Public Records) $22,000 Public Records

Property tax history

+2.7%/yr

Latest (2025): $1,852 · +2.5% YoY. Source: county tax records.