7939 NE Beechnut St Lot : 43 · Coldsprings, MI 49646-9559

$149,900

2 bd · 1.0 ba · 800 sqft · SingleFamily · 40 Days on market

Built 1950 0.34 ac lot $187/sqft · 33% below area Est $224k · 33% under

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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).

• ARV discount +15.0/15.0
• Cash flow +7.9/30.0
• Appreciation +5.0/10.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• DSCR +2.0/10.0

Listing remarks MLS

NICE LITTLE UP NORTH CABIN THAT HAS BEEN USED YEAR AROUND. NOT FAR FROM SNOWMOBILE TRAILS. SUBDIVISION SHARES A 50 FT LOT ON 860 ACRE MANISTEE LAKE. INCLUDES A 12 X 12 SHED .

Key facts

• Kitchen cabinets
• Rewired
• Windows

Tags

• COTTAGE STRIP TO THE STUDS
• REWIRED
• INSULATED
• WINDOWS
• KITCHEN CABINETS
• SEPTIC SYSTEM

Property features AI

Finance

• Other: Lot acreage approximately 0.34 acres; Gravel road access; Approximately 50 feet frontage
• Financial info: No investor or income/expense details provided
• HOA & community: No HOA details provided

Exterior

• Parking: No parking details provided
• Security: No security features provided
• Utilities: Private well water; Septic system; Electric and natural gas available; Cable available
• Home design: Residential, single-story home built in 1950; Unit/lot identified as Lot 43
• Construction: Built in 1950; Vinyl siding exterior; Crawl and slab foundation
• Exterior features: Vinyl siding; Shed on property; Subdivision lot that is cleared, rolling/hilly and wooded; Vegetation shoreline; Water frontage on Manistee Lake (shared interior lake frontage)

Interior

• Kitchen: Range/oven; Microwave; Refrigerator; Laminate kitchen flooring
• Bedrooms: First-floor bedrooms present; Main-level bedrooms with carpet flooring
• Flooring: Carpet in bedrooms; Laminate in living, dining, and kitchen; Vinyl in laundry room
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Wall heat; Ceiling fan(s)
• Interior features: Gas fireplace; Window treatments
• Laundry & utility: Washer; Dryer; Main-level laundry room with vinyl flooring

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $-161 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $127k (15.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $111k (26.1% below list).
• Recommended offer: $111k (26.1% 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.
• Kalkaska Public Schools (town): math 24% / reading 38% proficiency, ranked #356 of 540 in MI (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Birch Street Elementary School (math 37% / reading 32%, grade F, #744 of 1,397 statewide, top 57%, 354 students, 72% FRL); Kalkaska Middle School (math 19% / reading 37%, grade F, #359 of 493 statewide, top 73%, 304 students, 66% FRL); Kalkaska High School (math 32% / reading 52%, grade F, #264 of 713 statewide, top 41%, 449 students, 62% FRL).
• Market conditions: 1 active listings in the ZIP; 38 units permitted in Kalkaska County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $4k appreciation (3.0% local appreciation)).
• Kalkaska County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 23y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $150k implies a 400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $110,779 (26.1% 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. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.74% ✗
• Cap rate: 5.01%
• Cash-on-cash: -4.60%
• DSCR: 0.80
• GRM: 11.3

CMA / ARV

• ARV (median comp): $223,941
• List price: $149,900
• Delta: -33.06%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 3.2%
• Equity multiple: 1.19×
• Total profit: $7,835
• Equity at exit: $67,402

10-year hold

• IRR: 6.6%
• Equity multiple: 2.01×
• Total profit: $42,288
• Equity at exit: $103,874

Cash invested: $41,972 (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 49646-9559

• Active inventory: 1
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $1,108 medium
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $-161

Break-even live

Break-even rent $1,311

Max offer price $126,636

Occupancy floor —

Sensitivity live

Price	-10% $-57	-5% $-109	+0% $-161	+5% $-213	+10% $-264
Rent	-10% $-248	-5% $-205	+0% $-161	+5% $-117	+10% $-73
Rate	-1.0pp $-85	-0.5pp $-123	base $-161	+0.5pp $-200	+1.0pp $-239

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $149,900 Active 40 DOM
2. 2026-06-21
   days on market $149,900 Active 39 DOM
3. 2026-06-18
   days on market $149,900 Active 37 DOM
4. 2026-06-17
   days on market $149,900 Active 36 DOM
5. 2026-06-16
   days on market $149,900 Active 35 DOM
6. 2026-06-15
   days on market $149,900 Active 34 DOM
7. 2026-06-13
   days on market $149,900 Active 32 DOM
8. 2026-06-12
   days on market $149,900 Active 31 DOM
9. 2026-06-09
   days on market $149,900 Active 28 DOM
10. 2026-06-08
    days on market $149,900 Active 27 DOM
11. 2026-06-07
    pricedays on market $149,900 Active 26 DOM
12. 2026-06-07
    days on market $159,900 Active 25 DOM
13. 2026-06-04
    days on market $159,900 Active 22 DOM
14. 2026-06-02
    days on market $159,900 Active 21 DOM
15. 2026-06-01
    days on market $159,900 Active 20 DOM
16. 2026-05-31
    days on market $159,900 Active 19 DOM
17. 2026-05-31
    days on market $159,900 Active 18 DOM
18. 2026-05-12
    listed $159,900 Active 564-char remark
19. 2003-12-12
    soldstatus $30,000 174-char remark

    Show marketing remark (174 chars)

    NICE LITTLE UP NORTH CABIN THAT HAS BEEN USED YEAR AROUND. NOT FAR FROM SNOWMOBILE TRAILS. SUBDIVISION SHARES A 50 FT LOT ON 860 ACRE MANISTEE LAKE. INCLUDES A 12 X 12 SHED .

20. 2003-08-27
    listed $39,900 174-char remark

    Show marketing remark (174 chars)

    NICE LITTLE UP NORTH CABIN THAT HAS BEEN USED YEAR AROUND. NOT FAR FROM SNOWMOBILE TRAILS. SUBDIVISION SHARES A 50 FT LOT ON 860 ACRE MANISTEE LAKE. INCLUDES A 12 X 12 SHED .

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥93°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,293
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$1,063
• − Management: −$1,063
• − Depreciation: −$4,361
• Taxable loss: −$4,589
• Est. tax savings @ 24.0%: +$1,101
• After-tax cash flow: $-828/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: Kalkaska Public Schools
• NCES district ID: 2620050
• Math proficiency: 24% ▼ -8.00%
• Reading proficiency: 38% ▬ 0.00%
• Median HH income: $40,055
• Composite: 26.03/100
• National rank: #7308
• State rank: #356 of 540 in MI

Livability — Coldsprings

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

Census & demographics

• Census place: Manistee Lake, MI

Population outlook (Kalkaska County) Hauer SSP2

• Today (2025): 17,359 people
• By 2030: 17,222 · -0.8%
• By 2040: 16,643 · -4.1%
• By 2050: 15,810 · -8.9%
• By 2075: 13,772 · -20.7%
• By 2100: 10,976 · -36.8%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+275.7% since first listed

4 events — show timeline

• 2026-06-08 Price Changed $149,900 MiRealSource-MiMLS
• 2026-05-12 Listed $159,900 MiRealSource-MiMLS
• 2003-12-12 Sold (MLS) $30,000 MiRealSource-MiMLS
• 2003-08-27 Listed $39,900 MiRealSource-MiMLS