200 North St · Whittemore, MI 48770

$114,000

3 bd · 2.0 ba · 1,806 sqft · SingleFamily public records · 58 Days on market

Built 1940 0.75 ac lot $63/sqft · 15% above area Est $94k · 21% over

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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 +26.6/30.0
• DSCR +9.1/10.0
• 1% rule +6.1/10.0
• Appreciation +5.6/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Welcome to 200 North Street, nestled in the heart of Whittemore - a quiet, close-knit community known for its peaceful setting and easy access to Northern Michigan's outdoor recreation. Located within Iosco County, this home offers a great opportunity for those seeking affordability, space, and small-town living. Situated on a generous lot, the property provides plenty of outdoor space for relaxing, entertaining, or future improvements. The surrounding area is ideal for nature lovers, with nearby lakes, trails, and state land offering year-round activities including fishing, hunting, and ORV riding. Enjoy the simplicity of country-style living while still being within a short drive to Tawas City and the beautiful shores of Lake Huron. Don't miss this value-packed opportunity! Please note this property is being sold AS-IS, and the Seller will not pay the owner's title policy at closing.

Key facts

• Outdoor space
• Nearby lakes
• 0.75 acre lot

Tags

• OUTDOOR SPACE
• NEARBY LAKES
• BEAUTIFUL SHORES OF LAKE HURON

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $114k.

Deal economics

• At list price, monthly cash flow is $303 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $114k).
• Recommended offer: $111k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 57/100 on livability (#644 in MI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools F, crime 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: 14 active listings in the ZIP; 58 units permitted in Iosco County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($788 loan paydown + $1k appreciation (1.1% local appreciation)).
• Iosco County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.1% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($111k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 4y 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: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $110,580 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Crime grade is F 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?
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: 1.11% ✓
• Cap rate: 9.49%
• Cash-on-cash: 11.40%
• DSCR: 1.51
• GRM: 7.5

CMA / ARV

• ARV (median comp): $94,092
• List price: $114,000
• Delta: 21.16%
• Verdict: OVERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1881 S M65	0.64mi	2/1.0 (-1)	1,580 (-12%)	20mo	$85,000	$54	24

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.15% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.6%
• Equity multiple: 1.70×
• Total profit: $22,240
• Equity at exit: $39,800

10-year hold

• IRR: 17.0%
• Equity multiple: 3.08×
• Total profit: $66,516
• Equity at exit: $53,580

Cash invested: $31,920 (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 48770

• Home prices YoY: 0.5%
• Active inventory: 14
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,260 medium
• Mortgage (P&I): −$598
• Tax from tax record: −$47 /mo · $562/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $303

Break-even live

Break-even rent $876

Max offer price $114,000

Occupancy floor 71%

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: $28,500
• Closing costs: $3,420
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-18
   days on market $114,000 Active 58 DOM
2. 2026-06-17
   days on market $114,000 Active 57 DOM
3. 2026-06-16
   days on market $114,000 Active 56 DOM
4. 2026-06-15
   days on market $114,000 Active 55 DOM
5. 2026-06-13
   days on market $114,000 Active 53 DOM
6. 2026-06-12
   days on market $114,000 Active 52 DOM
7. 2026-06-09
   days on market $114,000 Active 49 DOM
8. 2026-06-08
   days on market $114,000 Active 48 DOM
9. 2026-06-07
   days on market $114,000 Active 47 DOM
10. 2026-06-07
    days on market $114,000 Active 46 DOM
11. 2026-06-04
    days on market $114,000 Active 43 DOM
12. 2026-06-02
    days on market $114,000 Active 42 DOM
13. 2026-06-01
    days on market $114,000 Active 41 DOM
14. 2026-05-31
    days on market $114,000 Active 40 DOM
15. 2026-05-31
    days on market $114,000 Active 39 DOM
16. 2026-04-21
    listed $114,000 Active 898-char remark

    Show marketing remark (920 chars)

    Welcome to 200 North Street, nestled in the heart of Whittemore—a quiet, close-knit community known for its peaceful setting and easy access to Northern Michigan’s outdoor recreation. Located within Iosco County, this home offers a great opportunity for those seeking affordability, space, and small-town living. Situated on a generous lot, the property provides plenty of outdoor space for relaxing, entertaining, or future improvements. The surrounding area is ideal for nature lovers, with nearby lakes, trails, and state land offering year-round activities including fishing, hunting, and ORV riding. Enjoy the simplicity of country-style living while still being within a short drive to Tawas City and the beautiful shores of Lake Huron. Don’t miss this value-packed opportunity! Please note this property is being sold AS-IS, and the Seller will not pay the owner’s title policy at closing.

17. 2026-04-21
    listed $114,000 Active 920-char remark

    Show marketing remark (920 chars)

    Welcome to 200 North Street, nestled in the heart of Whittemore—a quiet, close-knit community known for its peaceful setting and easy access to Northern Michigan’s outdoor recreation. Located within Iosco County, this home offers a great opportunity for those seeking affordability, space, and small-town living. Situated on a generous lot, the property provides plenty of outdoor space for relaxing, entertaining, or future improvements. The surrounding area is ideal for nature lovers, with nearby lakes, trails, and state land offering year-round activities including fishing, hunting, and ORV riding. Enjoy the simplicity of country-style living while still being within a short drive to Tawas City and the beautiful shores of Lake Huron. Don’t miss this value-packed opportunity! Please note this property is being sold AS-IS, and the Seller will not pay the owner’s title policy at closing.

18. 2025-06-04
    historical
19. 2025-06-04
    historical
20. 2024-12-04
    listed $139,900 Active
21. 2024-12-04
    listed $139,900 Active
22. 2023-02-22
    soldstatus $106,000
23. 2023-02-21
    soldstatus $106,000 Sold
24. 2023-02-21
    soldstatus $106,000 Closed
25. 2023-02-10
    listed Accepting Backup Offers
26. 2022-12-28
    historical Accepting Backup Offers
27. 2022-09-24
    listed $105,900
28. 2022-09-24
    listed $105,900 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: $562 · $47/mo
• Projected year-2 tax: $1,159 · $97/mo
• Expected delta: +$597/yr (+$50/mo · 106.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 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: $15,122
• − Mortgage interest: −$6,386
• − Property taxes: −$562
• − Insurance: −$570
• − Repairs & maintenance: −$1,210
• − Management: −$1,210
• − Depreciation: −$3,316
• Taxable income: $1,868
• Est. tax owed @ 24.0%: −$448
• After-tax cash flow: $3,192/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 — Whittemore

• Score: 57/100
• State rank: #644
• US rank: #21854

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Whittemore, MI
• Population (ZIP): 1,908

Population outlook (Iosco County) Hauer SSP2

• Today (2025): 24,366 people
• By 2030: 23,622 · -3.1%
• By 2040: 22,021 · -9.6%
• By 2050: 20,877 · -14.3%
• By 2075: 18,792 · -22.9%
• By 2100: 15,465 · -36.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Lithuanian 5% Romanian 3% German 2%
• Foreign-born: 0%
• Languages at home: 96% English-only · German/W. Germanic 3% Chinese 1%

Political lean MEDSL · Iosco

• 2024 margin: Solid R (+30.6) · D 34.0% · R 64.5% · Other 1.5%
• 2008→2024 swing: -35.7pp toward R · 2008: 5.1pp · 2024: -30.6pp
• All cycles: 2024: R+30.6 2020: R+28.6 2016: R+30.0 2012: R+5.0 2008: D+5.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.15%
• Current HPI: 221.4532
• 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

+7.6% since first listed

13 events — show timeline

• 2026-04-21 Listed $114,000 REALCOMP
• 2026-04-21 Listed $114,000 MiRealSource-MiMLS
• 2025-06-04 Listing Removed — MiRealSource-MiMLS
• 2025-06-04 Listing Removed — REALCOMP
• 2024-12-04 Listed $139,900 MiRealSource-MiMLS
• 2024-12-04 Listed $139,900 REALCOMP
• 2023-02-22 Sold (Public Records) $106,000 Public Records
• 2023-02-21 Sold (MLS) $106,000 MiRealSource-MiMLS
• 2023-02-21 Sold (MLS) $106,000 REALCOMP
• 2023-02-10 Listed — REALCOMP
• 2022-12-28 Contingent — MiRealSource-MiMLS
• 2022-09-24 Listed $105,900 MiRealSource-MiMLS
• 2022-09-24 Listed $105,900 REALCOMP

Property tax history

-7.6%/yr

Latest (2025): $562 · +4.0% YoY. Source: county tax records.