1724 W 3rd St · Skidway Lake, MI 48756

$14,999

2 bd · 1.0 ba · 736 sqft · SingleFamily public records · 11 Days on market

Built 1973 0.46 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

This home is in need of the new owner to update to their taste. Home is sold AS IS . Buyer or Buyers Agent to verify all subject information.

Key facts

• 0.46 acre lot
• Listed 11 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $15k.

Deal economics

• At list price, monthly cash flow is $539 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($838 rent vs $15k).

Location & tenants

• Location reads 58/100 on livability (#633 in MI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: health & safety C-, schools F, amenities F.
• Whittemore-Prescott Area Schools (rural): math 11% / reading 25% proficiency, ranked #488 of 540 in MI (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 55 active listings in the ZIP; 57 units permitted in Ogemaw County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $103 of loan paydown is wiped out by about $450 of value loss. Plan a longer hold.
• Ogemaw County population projected at -26% 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 $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y ago 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

• Watch-outs: property tax is 3.1% of price.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $14,999

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 5.59% ✓
• Cap rate: 49.38%
• Cash-on-cash: 153.89%
• DSCR: 7.85
• GRM: 1.5

CMA / ARV

• ARV (on-the-fly): $88,320
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5579 W Cedar Circle Dr	0.54mi	2/1.0	696 (-5%)	9mo	$75,000	$108	59
5334 E Greenwood Rd	0.51mi	2/1.0	760 (+3%)	21mo	$91,000	$120	53
5635 S Chippewa	0.52mi	3/1.0 (+1)	768 (+4%)	24mo	$129,900	$169	44
1667 Rabbit Track Dr	0.75mi	2/1.0	660 (-10%)	18mo	$17,000	$26	33

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: —
• Equity multiple: 8.59×
• Total profit: $31,897
• Equity at exit: $2,236

10-year hold

• IRR: —
• Equity multiple: 18.15×
• Total profit: $72,046
• Equity at exit: $1,297

Cash invested: $4,200 (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 48756

• Home prices YoY: -9.7%
• Active inventory: 55
• Price-to-rent: 1.5×

Monthly cashflow live

• Estimated rent: $838 medium
• Mortgage (P&I): −$79
• Tax from tax record: −$39 /mo · $463/yr
• Insurance: −$6
• HOA: −$0
• Vacancy / Maint / Mgmt: −$176
• Net cashflow: $539

Break-even live

Break-even rent $156

Max offer price $14,999

Occupancy floor 31%

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: $3,750
• Closing costs: $450
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-04-14
   status Pending
2. 2026-04-01
   listed $14,999 Active
3. 2024-05-10
   price $25,000
4. 2024-01-09
   price $37,900
5. 2023-12-20
   listed $39,900 Active

ⓘ 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: $463 · $39/mo
• Projected year-2 tax: $463 · $39/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major 73% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥94°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: $10,056
• − Mortgage interest: −$840
• − Property taxes: −$463
• − Insurance: −$75
• − Repairs & maintenance: −$804
• − Management: −$804
• − Depreciation: −$436
• Taxable income: $6,633
• Est. tax owed @ 24.0%: −$1,592
• After-tax cash flow: $4,871/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: Whittemore-Prescott Area Schools
• NCES district ID: 2636390
• Math proficiency: 11% ▼ -12.00%
• Reading proficiency: 25% ▼ -11.00%
• Median HH income: $30,244
• Composite: 14.31/100
• National rank: #9442
• State rank: #488 of 540 in MI

Livability — Skidway Lake

• Score: 58/100
• State rank: #633
• US rank: #21365

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Skidway Lake, MI
• Population (ZIP): 3,939

Population outlook (Ogemaw County) Hauer SSP2

• Today (2025): 19,373 people
• By 2030: 18,348 · -5.3%
• By 2040: 16,176 · -16.5%
• By 2050: 14,294 · -26.2%
• By 2075: 11,280 · -41.8%
• By 2100: 8,942 · -53.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 9% Lithuanian 4% Slovak 3%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Ogemaw

• 2024 margin: Solid R (+42.0) · D 28.4% · R 70.4% · Other 1.3%
• 2008→2024 swing: -44.4pp toward R · 2008: 2.4pp · 2024: -42.0pp
• All cycles: 2024: R+42.0 2020: R+40.1 2016: R+36.6 2012: R+6.2 2008: D+2.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -22.88%
• Current HPI: 213.8025
• 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

-62.4% since first listed

5 events — show timeline

• 2026-04-14 Pending — WWMLS
• 2026-04-01 Listed $14,999 WWMLS
• 2024-05-10 Price Changed $25,000 WWMLS
• 2024-01-09 Price Changed $37,900 WWMLS
• 2023-12-20 Listed $39,900 WWMLS

Property tax history

+3.9%/yr

Latest (2024): $463 · +7.0% YoY. Source: county tax records.