111 E Ave C · McMillan, MI 49868

$125,000

2 bd · 1.0 ba · 1,088 sqft · SingleFamily public records · 253 Days on market

Built 1947 $115/sqft · 63% above area

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Why this score? — see what drove the C 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 +25.1/30.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this super cute and cozy 2-bedroom, 1-bath home located right in the heart of Newberry! Sitting on a spacious 80x135 lot, this property offers a huge backyard--perfect for kids, pets, entertaining, or simply relaxing in your own private green space. The backyard is surrounded by mature trees, providing just the right amount of privacy and shade. Out front, you'll love the bountiful flowering landscaping and a large apple tree that produces an abundance of apples each season! Inside, you'll find a bright sunroom off the kitchen--an ideal spot to sip your morning coffee while enjoying peaceful views of the backyard. The home also features a full unfinished basement, offering plenty of room for storage or future finishing. The basement includes a newer furnace, a brand-new

Key facts

• Huge backyard
• Large apple tree
• Bright sunroom

Tags

• HUGE BACKYARD
• MATURE TREES
• FLOWERING LANDSCAPING
• LARGE APPLE TREE
• BRIGHT SUNROOM
• FULL UNFINISHED BASEMENT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $276 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Tahquamenon Area Schools (town): math 23% / reading 37% proficiency, ranked #374 of 540 in MI (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 67 active listings in the ZIP; 9 units permitted in Luce County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Luce County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 253 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; list at $125k implies a 127% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 253 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.06% ✓
• Cap rate: 8.94%
• Cash-on-cash: 9.47%
• DSCR: 1.42
• GRM: 7.8

CMA / ARV

• ARV (median comp): $76,894
• List price: $125,000
• Delta: 62.56%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
316 W Avenue B Ave	0.27mi	3/1.0 (+1)	1,104 (+2%)	4mo	$140,000	$127	77
7913 M 123 St	0.23mi	2/1.0	1,170 (+8%)	12mo	$50,000	$43	66
406 West Avenue C Rd	0.33mi	2/2.0	1,136 (+4%)	9mo	$139,900	$123	66
7910 Phelps St	0.25mi	2/1.5	980 (-10%)	7mo	$90,000	$92	64
612 W Harrie St	0.52mi	2/1.0	944 (-13%)	6mo	$120,000	$127	48
410 E Harrie St	0.35mi	3/1.5 (+1)	1,212 (+11%)	12mo	$137,900	$114	48
408 E John St	0.47mi	2/1.0	1,244 (+14%)	14mo	$29,000	$23	43

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: -2.0%
• Equity multiple: 0.92×
• Total profit: $-2,706
• Equity at exit: $18,638

10-year hold

• IRR: 7.6%
• Equity multiple: 1.58×
• Total profit: $20,143
• Equity at exit: $10,808

Cash invested: $35,000 (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 49868

• Home prices YoY: -16.8%
• Active inventory: 67
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,329 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$66 /mo · $791/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $276

Break-even live

Break-even rent $979

Max offer price $125,000

Occupancy floor 74%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $125,000 Active 253 DOM
2. 2026-06-17
   days on market $125,000 Active 252 DOM
3. 2026-06-16
   days on market $125,000 Active 251 DOM
4. 2026-06-15
   days on market $125,000 Active 250 DOM
5. 2026-06-13
   days on market $125,000 Active 248 DOM
6. 2026-06-12
   days on market $125,000 Active 247 DOM
7. 2026-06-09
   days on market $125,000 Active 244 DOM
8. 2026-06-08
   days on market $125,000 Active 243 DOM
9. 2026-06-07
   days on market $125,000 Active 242 DOM
10. 2026-06-07
    days on market $125,000 Active 241 DOM
11. 2026-06-04
    days on market $125,000 Active 238 DOM
12. 2026-06-02
    days on market $125,000 Active 237 DOM
13. 2026-06-01
    days on market $125,000 Active 236 DOM
14. 2026-05-31
    days on market $125,000 Active 235 DOM
15. 2026-05-31
    days on market $125,000 Active 234 DOM
16. 2025-10-31
    price $125,000 791-char remark

    Show marketing remark (791 chars)

    Welcome to this super cute and cozy 2-bedroom, 1-bath home located right in the heart of Newberry! Sitting on a spacious 80x135 lot, this property offers a huge backyard--perfect for kids, pets, entertaining, or simply relaxing in your own private green space. The backyard is surrounded by mature trees, providing just the right amount of privacy and shade. Out front, you'll love the bountiful flowering landscaping and a large apple tree that produces an abundance of apples each season! Inside, you'll find a bright sunroom off the kitchen--an ideal spot to sip your morning coffee while enjoying peaceful views of the backyard. The home also features a full unfinished basement, offering plenty of room for storage or future finishing. The basement includes a newer furnace, a brand-new

17. 2025-10-08
    listed $135,000 Active 791-char remark

    Show marketing remark (791 chars)

    Welcome to this super cute and cozy 2-bedroom, 1-bath home located right in the heart of Newberry! Sitting on a spacious 80x135 lot, this property offers a huge backyard--perfect for kids, pets, entertaining, or simply relaxing in your own private green space. The backyard is surrounded by mature trees, providing just the right amount of privacy and shade. Out front, you'll love the bountiful flowering landscaping and a large apple tree that produces an abundance of apples each season! Inside, you'll find a bright sunroom off the kitchen--an ideal spot to sip your morning coffee while enjoying peaceful views of the backyard. The home also features a full unfinished basement, offering plenty of room for storage or future finishing. The basement includes a newer furnace, a brand-new

18. 2022-10-10
    soldstatus $55,000
19. 2014-10-31
    soldstatus $45,000 470-char remark

    Show marketing remark (470 chars)

    Two bedroom, 1 bath home on 2 lots with a landscaped secluded lot. The home has new flooring, counter tops, main floor laundry, mud room by front door entrance and a great 3 season sunroom. The dining area is by the kitchen area with a large picture window facing the back yard. There is a full basement, newer furnace and 2 car detached garage. The price includes all the appliances. This home is a must see and its location is close to the school, hospital and stores.

20. 2014-10-30
    soldstatus $45,000
21. 2014-03-10
    listed $48,000 470-char remark

    Show marketing remark (470 chars)

    Two bedroom, 1 bath home on 2 lots with a landscaped secluded lot. The home has new flooring, counter tops, main floor laundry, mud room by front door entrance and a great 3 season sunroom. The dining area is by the kitchen area with a large picture window facing the back yard. There is a full basement, newer furnace and 2 car detached garage. The price includes all the appliances. This home is a must see and its location is close to the school, hospital and stores.

ⓘ 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: $791 · $66/mo
• Projected year-2 tax: $1,358 · $113/mo
• Expected delta: +$567/yr (+$47/mo · 71.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥89°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: $15,943
• − Mortgage interest: −$7,002
• − Property taxes: −$791
• − Insurance: −$625
• − Repairs & maintenance: −$1,275
• − Management: −$1,275
• − Depreciation: −$3,636
• Taxable income: $1,338
• Est. tax owed @ 24.0%: −$321
• After-tax cash flow: $2,992/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: Tahquamenon Area Schools
• NCES district ID: 2625350
• Math proficiency: 23% ▼ -1.00%
• Reading proficiency: 37% ▼ -4.00%
• Median HH income: $38,217
• Composite: 25.03/100
• National rank: #7553
• State rank: #374 of 540 in MI

Livability — McMillan

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

Census & demographics

• Census place: Newberry, MI
• Population (ZIP): 5,231

Population outlook (Luce County) Hauer SSP2

• Today (2025): 6,185 people
• By 2030: 6,049 · -2.2%
• By 2040: 5,756 · -6.9%
• By 2050: 5,481 · -11.4%
• By 2075: 4,729 · -23.5%
• By 2100: 3,631 · -41.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 10% Native American 8% Two or more races 6% Hispanic / Latino 2%
• Common ancestry: Romanian 4% Lithuanian 3% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 2% Arabic 1%

Political lean MEDSL · Luce

• 2024 margin: Solid R (+46.9) · D 25.8% · R 72.7% · Other 1.5%
• 2008→2024 swing: -36.0pp toward R · 2008: -10.9pp · 2024: -46.9pp
• All cycles: 2024: R+46.9 2020: R+42.2 2016: R+41.7 2012: R+22.2 2008: R+10.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -26.69%
• Current HPI: 132.0633
• 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

+160.4% since first listed

6 events — show timeline

• 2025-10-31 Price Changed $125,000 EUPBR
• 2025-10-08 Listed $135,000 EUPBR
• 2022-10-10 Sold (Public Records) $55,000 Public Records
• 2014-10-31 Sold (MLS) $45,000 EUPBR
• 2014-10-30 Sold (Public Records) $45,000 Public Records
• 2014-03-10 Listed $48,000 EUPBR

Property tax history

+7.2%/yr

Latest (2016): $791 · +23.2% YoY. Source: county tax records.