N1051 Highway M35 · Menominee, MI 49858

$49,900

2 bd · 1.0 ba · 936 sqft · SingleFamily public records · 114 Days on market

Built 1950 0.58 ac lot $53/sqft · 58% below area ↓ 21% since listing

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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 +3.6/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

LIST PRICE IS $54,900 WITH AN OPENING BID OF $39,900. Property may be sold any time prior to event. Property is being sold as-is, where-is. 1.5 story cottage home built in 1950 located in the Township of Menominee. Home features 1,248sf with 3 bedrooms and 1 bath. 1 bedroom upstairs does not have a finished ceiling. Detached 2 stall garage. Located directly across the beautiful Bay of Green Bay. Just minutes from the City of Menominee where there are local shops and restaurants to enjoy. Bring your ideas and make this home yours!

Key facts

• Bay of green bay
• Cottage home
• Restaurants

Tags

• COTTAGE HOME
• TOWNSHIP OF MENOMINEE
• BAY OF GREEN BAY
• LOCAL SHOPS
• RESTAURANTS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $433 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($929 rent vs $50k).
• Recommended offer: $45k (9.0% below list) — sets the bar for market timing.
• Cap rate 16.7% vs local median 4.0% in Menominee — 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 71/100 on livability (#282 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, amenities F, commute F.
• Menominee Area Public Schools (town): math 26% / reading 42% proficiency, ranked #312 of 540 in MI (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 64 active listings in the ZIP; 26 units permitted in Menominee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Menominee County population projected at -19% 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 ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($45k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 6y ago; this cycle's ask has dropped $10k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $45,409 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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: 1.86% ✓
• Cap rate: 16.71%
• Cash-on-cash: 37.20%
• DSCR: 2.66
• GRM: 4.5

CMA / ARV

• ARV (median comp): $158,652
• List price: $49,900
• Delta: -68.55%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4511 6th St	0.63mi	3/1.0 (+1)	1,010 (+8%)	2mo	$169,500	$168	51
616 44th Ave	0.72mi	2/1.0	1,044 (+12%)	23mo	$145,000	$139	28

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: 33.1%
• Equity multiple: 2.39×
• Total profit: $19,485
• Equity at exit: $7,440

10-year hold

• IRR: 40.1%
• Equity multiple: 4.75×
• Total profit: $52,433
• Equity at exit: $4,314

Cash invested: $13,972 (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 49858

• Home prices YoY: -31.4%
• Active inventory: 64
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $929 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$19 /mo · $223/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$195
• Net cashflow: $433

Break-even live

Break-even rent $381

Max offer price $49,900

Occupancy floor 48%

Sensitivity live

Price	-10% $461	-5% $447	+0% $433	+5% $419	+10% $405
Rent	-10% $360	-5% $396	+0% $433	+5% $470	+10% $507
Rate	-1.0pp $458	-0.5pp $446	base $433	+0.5pp $420	+1.0pp $407

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-19
   days on market $49,900 Active 114 DOM
2. 2026-06-18
   days on market $49,900 Active 113 DOM
3. 2026-06-17
   days on market $49,900 Active 112 DOM
4. 2026-06-16
   days on market $49,900 Active 111 DOM
5. 2026-06-15
   days on market $49,900 Active 110 DOM
6. 2026-06-14
   days on market $49,900 Active 108 DOM
7. 2026-06-12
   pricedays on market $49,900 Active 107 DOM
8. 2026-06-09
   days on market $54,900 Active 104 DOM
9. 2026-06-08
   days on market $54,900 Active 103 DOM
10. 2026-06-07
    days on market $54,900 Active 102 DOM
11. 2026-06-07
    days on market $54,900 Active 101 DOM
12. 2026-06-04
    days on market $54,900 Active 98 DOM
13. 2026-06-02
    days on market $54,900 Active 97 DOM
14. 2026-06-01
    days on market $54,900 Active 96 DOM
15. 2026-05-31
    days on market $54,900 Active 95 DOM
16. 2026-05-31
    days on market $54,900 Active 94 DOM
17. 2026-05-08
    price $54,900 535-char remark

    Show marketing remark (535 chars)

    LIST PRICE IS $54,900 WITH AN OPENING BID OF $39,900. Property may be sold any time prior to event. Property is being sold as-is, where-is. 1.5 story cottage home built in 1950 located in the Township of Menominee. Home features 1,248sf with 3 bedrooms and 1 bath. 1 bedroom upstairs does not have a finished ceiling. Detached 2 stall garage. Located directly across the beautiful Bay of Green Bay. Just minutes from the City of Menominee where there are local shops and restaurants to enjoy. Bring your ideas and make this home yours!

18. 2026-05-08
    price $54,900 535-char remark

    Show marketing remark (535 chars)

    LIST PRICE IS $54,900 WITH AN OPENING BID OF $39,900. Property may be sold any time prior to event. Property is being sold as-is, where-is. 1.5 story cottage home built in 1950 located in the Township of Menominee. Home features 1,248sf with 3 bedrooms and 1 bath. 1 bedroom upstairs does not have a finished ceiling. Detached 2 stall garage. Located directly across the beautiful Bay of Green Bay. Just minutes from the City of Menominee where there are local shops and restaurants to enjoy. Bring your ideas and make this home yours!

19. 2026-04-14
    status Active 535-char remark

    Show marketing remark (535 chars)

    LIST PRICE IS $54,900 WITH AN OPENING BID OF $39,900. Property may be sold any time prior to event. Property is being sold as-is, where-is. 1.5 story cottage home built in 1950 located in the Township of Menominee. Home features 1,248sf with 3 bedrooms and 1 bath. 1 bedroom upstairs does not have a finished ceiling. Detached 2 stall garage. Located directly across the beautiful Bay of Green Bay. Just minutes from the City of Menominee where there are local shops and restaurants to enjoy. Bring your ideas and make this home yours!

20. 2026-04-14
    status Active 535-char remark

    Show marketing remark (535 chars)

    LIST PRICE IS $54,900 WITH AN OPENING BID OF $39,900. Property may be sold any time prior to event. Property is being sold as-is, where-is. 1.5 story cottage home built in 1950 located in the Township of Menominee. Home features 1,248sf with 3 bedrooms and 1 bath. 1 bedroom upstairs does not have a finished ceiling. Detached 2 stall garage. Located directly across the beautiful Bay of Green Bay. Just minutes from the City of Menominee where there are local shops and restaurants to enjoy. Bring your ideas and make this home yours!

21. 2026-03-26
    status Pending 535-char remark

    Show marketing remark (535 chars)

    LIST PRICE IS $54,900 WITH AN OPENING BID OF $39,900. Property may be sold any time prior to event. Property is being sold as-is, where-is. 1.5 story cottage home built in 1950 located in the Township of Menominee. Home features 1,248sf with 3 bedrooms and 1 bath. 1 bedroom upstairs does not have a finished ceiling. Detached 2 stall garage. Located directly across the beautiful Bay of Green Bay. Just minutes from the City of Menominee where there are local shops and restaurants to enjoy. Bring your ideas and make this home yours!

22. 2026-03-26
    historical Active w/ Contract 535-char remark

    Show marketing remark (535 chars)

    LIST PRICE IS $54,900 WITH AN OPENING BID OF $39,900. Property may be sold any time prior to event. Property is being sold as-is, where-is. 1.5 story cottage home built in 1950 located in the Township of Menominee. Home features 1,248sf with 3 bedrooms and 1 bath. 1 bedroom upstairs does not have a finished ceiling. Detached 2 stall garage. Located directly across the beautiful Bay of Green Bay. Just minutes from the City of Menominee where there are local shops and restaurants to enjoy. Bring your ideas and make this home yours!

23. 2026-02-24
    listed $59,900 Active 535-char remark

    Show marketing remark (535 chars)

    LIST PRICE IS $54,900 WITH AN OPENING BID OF $39,900. Property may be sold any time prior to event. Property is being sold as-is, where-is. 1.5 story cottage home built in 1950 located in the Township of Menominee. Home features 1,248sf with 3 bedrooms and 1 bath. 1 bedroom upstairs does not have a finished ceiling. Detached 2 stall garage. Located directly across the beautiful Bay of Green Bay. Just minutes from the City of Menominee where there are local shops and restaurants to enjoy. Bring your ideas and make this home yours!

24. 2026-02-24
    listed $59,900 Active 535-char remark

    Show marketing remark (535 chars)

    LIST PRICE IS $54,900 WITH AN OPENING BID OF $39,900. Property may be sold any time prior to event. Property is being sold as-is, where-is. 1.5 story cottage home built in 1950 located in the Township of Menominee. Home features 1,248sf with 3 bedrooms and 1 bath. 1 bedroom upstairs does not have a finished ceiling. Detached 2 stall garage. Located directly across the beautiful Bay of Green Bay. Just minutes from the City of Menominee where there are local shops and restaurants to enjoy. Bring your ideas and make this home yours!

25. 2020-12-14
    soldstatus $70,000
26. 2020-12-14
    soldstatus $70,000
27. 2020-07-03
    listed $69,900

ⓘ 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: $223 · $19/mo
• Projected year-2 tax: $496 · $41/mo
• Expected delta: +$273/yr (+$23/mo · 122.6%)

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

Taxation est. · year 1

• Rental income: $11,151
• − Mortgage interest: −$2,795
• − Property taxes: −$223
• − Insurance: −$250
• − Repairs & maintenance: −$892
• − Management: −$892
• − Depreciation: −$1,452
• Taxable income: $4,648
• Est. tax owed @ 24.0%: −$1,116
• After-tax cash flow: $4,082/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: Menominee Area Public Schools
• NCES district ID: 2623550
• Math proficiency: 26% ▼ -6.00%
• Reading proficiency: 42% ▼ -3.00%
• Median HH income: $41,809
• Composite: 28.68/100
• National rank: #6694
• State rank: #312 of 540 in MI

Livability — Menominee

• Score: 71/100
• State rank: #282
• US rank: #6909

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 11,870

Population outlook (Menominee County) Hauer SSP2

• Today (2025): 22,668 people
• By 2030: 21,986 · -3.0%
• By 2040: 20,196 · -10.9%
• By 2050: 18,335 · -19.1%
• By 2075: 14,771 · -34.8%
• By 2100: 10,999 · -51.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Lithuanian 8% Romanian 7% Portuguese 4%
• Foreign-born: 2% · Canada
• Languages at home: 99% English-only · French/Haitian/Cajun 1%

Political lean MEDSL · Menominee

• 2024 margin: Solid R (+33.6) · D 32.6% · R 66.2% · Other 1.2%
• 2008→2024 swing: -43.8pp toward R · 2008: 10.2pp · 2024: -33.6pp
• All cycles: 2024: R+33.6 2020: R+30.1 2016: R+29.4 2012: R+2.9 2008: D+10.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -94.34%
• Current HPI: 206.2461
• 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

-21.5% since first listed

11 events — show timeline

• 2026-05-08 Price Changed $54,900 RANW
• 2026-05-08 Price Changed $54,900 GNMLS
• 2026-04-14 Relisted — GNMLS
• 2026-04-14 Relisted — RANW
• 2026-03-26 Pending — GNMLS
• 2026-03-26 Contingent — RANW
• 2026-02-24 Listed $59,900 GNMLS
• 2026-02-24 Listed $59,900 RANW
• 2020-12-14 Sold (Public Records) $70,000 Public Records
• 2020-12-14 Sold (MLS) $70,000 METROMLS
• 2020-07-03 Listed $69,900 METROMLS