8467 P.5 #10 Rd · Escanaba, MI 49837

$49,000

2 bd · 1.0 ba · 1,120 sqft · SingleFamily public records · 7 Days on market

Built 1998 $44/sqft · 71% below area

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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
• Livability +3.8/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move in ready 2020 Midcountry for sale located in Briar Park! Briar Park is conveniently located near M35, Cameron Elementary School, and Gladstone High School. The 2020 Midcountry features 3 bedrooms, 2 full bath, a 10x14 composite deck, and 2 storage sheds. Located at the end of the park, this lot has an expansive back yard ideal for hanging out with friends and family. All appliances will be staying with the home including a washer/dryer, dishwasher, refrigerator, oven and microwave. Serial Number WS11405A

Key facts

• Master suite
• Refrigerator
• Jack-and-jill style

Tags

• MOVE IN READY
• OPEN CONCEPT FLOOR PLAN
• MASTER SUITE
• JACK-AND-JILL STYLE
• GAS RANGE
• REFRIGERATOR

Property features AI

Finance

• Financial info: Monthly rent amount listed as $400

Exterior

• Parking: 3 or more parking spaces (unassigned/general)
• Utilities: 100 amp electric service with circuit breaker; Electric water heater; Propane fuel (tank leased); Septic system; Community well water; Electricity, sewer and water connected
• Home design: Manufactured single-wide home (manufactured after 1976); 1 story; Located in a manufactured home park (Briar Park)
• Construction: Vinyl siding; Piers foundation; Built in 1998
• Exterior features: Deck; No water features noted

Interior

• Kitchen: Range/Oven; Refrigerator; Eat-in layout
• Bedrooms: Main level bedrooms (3): 11 x 14; 11 x 12; 8 x 7
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Eat-in kitchen; Basement (other type)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $49k.

Deal economics

• At list price, monthly cash flow is $482 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $49k).
• Cap rate 18.1% vs local median 4.9% in Escanaba — 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 75/100 on livability (#161 in MI, #4,089 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: crime D+, commute F, employment F.
• Gladstone Area Schools (town): math 32% / reading 45% proficiency, ranked #226 of 540 in MI (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 49 active listings in the ZIP; 38 units permitted in Delta County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $339 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Delta County population projected at -22% 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 $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 13 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.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $49,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
3. Crime grade is D 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?
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: 2.06% ✓
• Cap rate: 18.09%
• Cash-on-cash: 42.15%
• DSCR: 2.88
• GRM: 4.0

CMA / ARV

• ARV (median comp): $173,501
• List price: $49,000
• Delta: -68.30%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
533 25th St	0.29mi	3/2.0 (+1)	1,096 (-2%)	10mo	$362,000	$330	65
155 29th Lot St #89	0.10mi	3/2.0 (+1)	1,050 (-6%)	22mo	$89,900	$86	58
6 Pinewood Dr	0.30mi	3/2.0 (+1)	980 (-12%)	19mo	$150,000	$153	40
6060 21.9 Ln	0.59mi	2/2.0	1,280 (+14%)	18mo	$132,000	$103	30

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: 38.8%
• Equity multiple: 2.66×
• Total profit: $22,751
• Equity at exit: $7,306

10-year hold

• IRR: 45.3%
• Equity multiple: 5.32×
• Total profit: $59,333
• Equity at exit: $4,237

Cash invested: $13,720 (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 49837

• Active inventory: 49
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,008 medium
• Mortgage (P&I): −$257
• Tax from tax record: −$37 /mo · $448/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$212
• Net cashflow: $482

Break-even live

Break-even rent $398

Max offer price $49,000

Occupancy floor 47%

Sensitivity live

Price	-10% $510	-5% $496	+0% $482	+5% $468	+10% $454
Rent	-10% $402	-5% $442	+0% $482	+5% $522	+10% $562
Rate	-1.0pp $507	-0.5pp $494	base $482	+0.5pp $469	+1.0pp $456

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: $12,250
• Closing costs: $1,470
• Reserves months: —
• Total cash needed: —

Listing history 37 events

1. 2026-06-18
   status $49,000 Pending 7 DOM
2. 2026-06-17
   days on market $49,000 Active 7 DOM

   Show marketing remark (514 chars)

   Move in ready 2020 Midcountry for sale located in Briar Park! Briar Park is conveniently located near M35, Cameron Elementary School, and Gladstone High School. The 2020 Midcountry features 3 bedrooms, 2 full bath, a 10x14 composite deck, and 2 storage sheds. Located at the end of the park, this lot has an expansive back yard ideal for hanging out with friends and family. All appliances will be staying with the home including a washer/dryer, dishwasher, refrigerator, oven and microwave. Serial Number WS11405A

3. 2026-06-16
   days on market $49,000 Active 6 DOM
4. 2026-06-15
   days on market $49,000 Active 5 DOM
5. 2026-06-13
   days on market $49,000 Active 3 DOM
6. 2026-06-12
   pricedays on marketlisting id $49,000 Active 2 DOM
7. 2026-06-09
   pricestatusdays on marketlisting id $89,000 Active 1 DOM
8. 2026-06-08
   days on market $55,000 Accepting Backup Offers 28 DOM

   Show marketing remark (514 chars)

   Move in ready 2020 Midcountry for sale located in Briar Park! Briar Park is conveniently located near M35, Cameron Elementary School, and Gladstone High School. The 2020 Midcountry features 3 bedrooms, 2 full bath, a 10x14 composite deck, and 2 storage sheds. Located at the end of the park, this lot has an expansive back yard ideal for hanging out with friends and family. All appliances will be staying with the home including a washer/dryer, dishwasher, refrigerator, oven and microwave. Serial Number WS11405A

9. 2026-06-07
   days on market $55,000 Accepting Backup Offers 27 DOM
10. 2026-06-07
    days on market $55,000 Accepting Backup Offers 26 DOM
11. 2026-06-04
    days on market $55,000 Accepting Backup Offers 23 DOM
12. 2026-06-02
    days on market $55,000 Accepting Backup Offers 22 DOM
13. 2026-06-01
    days on market $55,000 Accepting Backup Offers 21 DOM
14. 2026-05-31
    days on market $55,000 Accepting Backup Offers 20 DOM
15. 2026-05-31
    days on market $55,000 Accepting Backup Offers 19 DOM
16. 2026-05-11
    listed $55,000 Active 728-char remark
17. 2026-05-11
    listed $55,000 Active 728-char remark
18. 2026-03-10
    soldstatus $10,000 207-char remark
19. 2026-03-10
    soldstatus $10,000 207-char remark
20. 2026-03-10
    listed $10,000 207-char remark
21. 2026-03-10
    listed $10,000 207-char remark
22. 2026-02-18
    status Pending
23. 2026-02-13
    soldstatus $40,000 Closed
24. 2026-02-13
    soldstatus $40,000 Closed
25. 2026-01-30
    historical Keep Showing-Contgcy Appl
26. 2026-01-12
    listed $45,000 Active
27. 2026-01-12
    listed $45,000 Active
28. 2025-12-26
    soldstatus $45,000 Closed
29. 2025-12-26
    soldstatus $45,000 Closed
30. 2025-12-22
    status Pending
31. 2025-12-22
    status Pending
32. 2025-12-20
    price $49,950
33. 2025-12-19
    price $49,950
34. 2025-11-13
    listed $55,000 Active
35. 2025-11-13
    listed $55,000 Active
36. 2025-11-12
    listed $535,000
37. 2025-11-07
    soldstatus $535,000

ⓘ 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: $448 · $37/mo
• Projected year-2 tax: $601 · $50/mo
• Expected delta: +$153/yr (+$13/mo · 34.2%)

ⓘ 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 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥89°F today · 13 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: $12,100
• − Mortgage interest: −$2,745
• − Property taxes: −$448
• − Insurance: −$245
• − Repairs & maintenance: −$968
• − Management: −$968
• − Depreciation: −$1,425
• Taxable income: $5,301
• Est. tax owed @ 24.0%: −$1,272
• After-tax cash flow: $4,510/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: Gladstone Area Schools
• NCES district ID: 2615970
• Math proficiency: 32% ▼ -2.00%
• Reading proficiency: 45% ▲ 1.00%
• Median HH income: $50,821
• Composite: 33.28/100
• National rank: #5510
• State rank: #226 of 540 in MI

Livability — Escanaba

• Score: 75/100
• State rank: #161
• US rank: #4089

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,007

Population outlook (Delta County) Hauer SSP2

• Today (2025): 34,431 people
• By 2030: 33,003 · -4.1%
• By 2040: 29,748 · -13.6%
• By 2050: 26,753 · -22.3%
• By 2075: 20,962 · -39.1%
• By 2100: 15,616 · -54.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4%
• Common ancestry: Lithuanian 9% Iranian 5% English 4%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Delta

• 2024 margin: Solid R (+30.4) · D 34.1% · R 64.5% · Other 1.4%
• 2008→2024 swing: -36.7pp toward R · 2008: 6.3pp · 2024: -30.4pp
• All cycles: 2024: R+30.4 2020: R+26.5 2016: R+25.4 2012: R+6.7 2008: D+6.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -108.63%
• Current HPI: 157.4775
• 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

-89.7% since first listed

36 events — show timeline

• 2026-06-17 Pending — UPAR
• 2026-06-17 Pending — UPAR
• 2026-06-17 Pending — MiRealSource-MiMLS
• 2026-06-17 Pending — MiRealSource-MiMLS
• 2026-06-12 Pending — UPAR
• 2026-06-12 Pending — MiRealSource-MiMLS
• 2026-06-12 Sold (MLS) $55,000 MiRealSource-MiMLS
• 2026-06-12 Sold (MLS) $55,000 UPAR
• 2026-06-10 Listed $49,000 UPAR
• 2026-06-10 Listed $49,000 MiRealSource-MiMLS
• 2026-06-08 Listed $89,000 MiRealSource-MiMLS
• 2026-06-08 Listed $89,000 UPAR
• 2026-05-27 Contingent — MiRealSource-MiMLS
• 2026-05-11 Listed $55,000 MiRealSource-MiMLS
• 2026-05-11 Listed $55,000 UPAR
• 2026-03-10 Listed $10,000 UPAR
• 2026-03-10 Listed $10,000 MiRealSource-MiMLS
• 2026-03-10 Sold (MLS) $10,000 UPAR
• 2026-03-10 Sold (MLS) $10,000 MiRealSource-MiMLS
• 2026-02-18 Pending — MiRealSource-MiMLS
• 2026-02-13 Sold (MLS) $40,000 UPAR
• 2026-02-13 Sold (MLS) $40,000 MiRealSource-MiMLS
• 2026-01-30 Contingent — MiRealSource-MiMLS
• 2026-01-12 Listed $45,000 UPAR
• 2026-01-12 Listed $45,000 MiRealSource-MiMLS
• 2025-12-26 Sold (MLS) $45,000 MiRealSource-MiMLS
• 2025-12-26 Sold (MLS) $45,000 UPAR
• 2025-12-22 Pending — UPAR
• 2025-12-22 Pending — MiRealSource-MiMLS
• 2025-12-20 Price Changed $49,950 MiRealSource-MiMLS
• 2025-12-19 Price Changed $49,950 UPAR
• 2025-11-13 Listed $55,000 UPAR
• 2025-11-13 Listed $55,000 MiRealSource-MiMLS
• 2025-11-12 Listed $535,000 MiRealSource-MiMLS
• 2025-11-07 Sold (Public Records) $275,000 Public Records
• 2025-11-07 Sold (MLS) $535,000 MiRealSource-MiMLS

Property tax history

-6.6%/yr

Latest (2025): $448 · -75.2% YoY. Source: county tax records.