344 S Sleeper Dr · Hawes, MI 48742

$49,000

2 bd · 1.0 ba · 754 sqft · SingleFamily · 49 Days on market

Built 1965 6,969 sqft lot $65/sqft · 58% below area

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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
• 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

Welcome to this charming home located at 344 S. Sleeper Dr in Lincoln, MI. This delightful property features a spacious layout. The open concept living area boasts abundant natural light, appropriate for entertaining or relaxing. Enjoy the serene surroundings and the beautifully landscaped yard. With modern appliances and ample storage throughout, this home has both comfort and functionality. Don't miss the opportunity to make this your new home!

Key facts

• 6,969 sq ft lot
• Built 1965
• Listed 48 days

Property features AI

Finance

• Other: Directions: Drive east on Main St/F-41. Left to Lakeview Drive. Right to Sleeper Drive. Property is on the right.
• Financial info: No financial details provided
• HOA & community: Located in Brownlee Lake Park Sub

Exterior

• Parking: No parking details provided
• Security: No security details provided
• Utilities: No municipal water; No sewer service
• Home design: Single-family residence; Residential property
• Construction: No construction or year-built details provided
• Exterior features: Paved road access; Lot dimensions approximately 80 x 150 feet; Approximately 0.16 acres

Interior

• Kitchen: No kitchen details provided
• Bedrooms: No bedroom details provided
• Flooring: No flooring details provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; No central cooling
• Interior features: On waterfront
• Laundry & utility: No laundry facilities

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $49k.

Deal economics

• At list price, monthly cash flow is $327 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($842 rent vs $49k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Alcona Community Schools (rural): math 24% / reading 36% 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: 26 active listings in the ZIP; 38 units permitted in Alcona County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $339 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Alcona County population projected at -37% 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 ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.

Recommended offer $47,530 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 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 1965 — 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. 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.
5. 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.
6. 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: 1.72% ✓
• Cap rate: 14.30%
• Cash-on-cash: 28.60%
• DSCR: 2.27
• GRM: 4.8

CMA / ARV

• ARV (median comp): $116,640
• List price: $49,000
• Delta: -57.99%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
507 S Sleeper Dr	0.06mi	2/1.0	700 (-7%)	11mo	$140,000	$200	76
410 W Traverse Bay Rd	0.73mi	2/1.0	858 (+14%)	10mo	$90,000	$105	35

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: 22.9%
• Equity multiple: 1.94×
• Total profit: $12,896
• Equity at exit: $7,306

10-year hold

• IRR: 30.9%
• Equity multiple: 3.78×
• Total profit: $38,095
• Equity at exit: $4,237

Cash invested: $13,720 (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 48742

• Home prices YoY: -22.4%
• Active inventory: 26
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $842 medium
• Mortgage (P&I): −$257
• Tax from tax record: −$61 /mo · $734/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$177
• Net cashflow: $327

Break-even live

Break-even rent $429

Max offer price $49,000

Occupancy floor 56%

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: $12,250
• Closing costs: $1,470
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $49,000 Active 49 DOM
2. 2026-06-17
   days on market $49,000 Active 48 DOM
3. 2026-06-16
   days on market $49,000 Active 47 DOM
4. 2026-06-15
   days on market $49,000 Active 46 DOM
5. 2026-06-13
   days on market $49,000 Active 44 DOM
6. 2026-06-12
   days on market $49,000 Active 43 DOM
7. 2026-06-09
   days on market $49,000 Active 40 DOM
8. 2026-06-08
   days on market $49,000 Active 39 DOM
9. 2026-06-07
   days on market $49,000 Active 38 DOM
10. 2026-06-07
    days on market $49,000 Active 37 DOM
11. 2026-06-04
    days on market $49,000 Active 34 DOM
12. 2026-06-02
    days on market $49,000 Active 33 DOM
13. 2026-06-01
    days on market $49,000 Active 32 DOM
14. 2026-05-31
    days on market $49,000 Active 31 DOM
15. 2026-05-31
    days on market $49,000 Active 30 DOM
16. 2026-05-15
    price $59,000 450-char remark
17. 2026-05-14
    price $69,000 450-char remark
18. 2026-05-12
    price $79,000 450-char remark
19. 2026-05-06
    price $81,000 450-char remark
20. 2026-04-25
    listed $84,900 Active 450-char remark
21. 2023-10-26
    soldstatus $45,000

ⓘ 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: $734 · $61/mo
• Projected year-2 tax: $744 · $62/mo
• Expected delta: +$10/yr (+$1/mo · 1.4%)

ⓘ 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 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: $10,108
• − Mortgage interest: −$2,745
• − Property taxes: −$734
• − Insurance: −$245
• − Repairs & maintenance: −$809
• − Management: −$809
• − Depreciation: −$1,425
• Taxable income: $3,342
• Est. tax owed @ 24.0%: −$802
• After-tax cash flow: $3,121/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: Alcona Community Schools
• NCES district ID: 2602160
• Math proficiency: 24% ▼ -4.00%
• Reading proficiency: 36% ▼ -9.00%
• Median HH income: $38,164
• Composite: 25.03/100
• National rank: #7552
• State rank: #374 of 540 in MI

Livability — Hawes

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

Census & demographics

• Census place: Lincoln, MI
• Population (ZIP): 1,767

Population outlook (Alcona County) Hauer SSP2

• Today (2025): 9,071 people
• By 2030: 8,331 · -8.2%
• By 2040: 6,852 · -24.5%
• By 2050: 5,691 · -37.3%
• By 2075: 4,229 · -53.4%
• By 2100: 3,149 · -65.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4%
• Common ancestry: Romanian 9% Lithuanian 4% Serbian 3%
• Foreign-born: 0%

Political lean MEDSL · Alcona

• 2024 margin: Solid R (+41.7) · D 28.6% · R 70.3% · Other 1.1%
• 2008→2024 swing: -33.8pp toward R · 2008: -7.9pp · 2024: -41.7pp
• All cycles: 2024: R+41.7 2020: R+38.3 2016: R+40.0 2012: R+18.2 2008: R+7.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -42.33%
• Current HPI: 146.2138
• 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

+8.9% since first listed

7 events — show timeline

• 2026-05-20 Price Changed $49,000 WWMLS
• 2026-05-15 Price Changed $59,000 WWMLS
• 2026-05-14 Price Changed $69,000 WWMLS
• 2026-05-12 Price Changed $79,000 WWMLS
• 2026-05-06 Price Changed $81,000 WWMLS
• 2026-04-25 Listed $84,900 WWMLS
• 2023-10-26 Sold (Public Records) $45,000 Public Records

Property tax history

+0.3%/yr

Latest (2025): $734 · +289.0% YoY. Source: county tax records.