914 Chardonnay Ln · Greenwood, MI 49756

$61,500

4 bd · 4.0 ba · 3,000 sqft · Condo · 27 Days on market

Built 2005 Fair condition ↓ 5% since listing

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Why this score? — see what drove the F 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).

• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +3.5/30.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Embrace fractional ownership with this stunning condo, offering one week per month access. Enjoy a fully furnished 4-bed, 4-bath retreat with a cozy fireplace, spacious living areas, and a relaxing hot tub on the private patio. Recent updates including new AC, furnace, dishwasher, and more are sure to enhance your experience. Sit back on the second story balcony and enjoy endless entertainment of oncoming golfers, or unwind in the first-floor hot tub. Schedule your viewing today.

Key facts

• First-floor hot tub
• Recent updates
• Second-story balcony

Tags

• GOLF COURSE SETTING
• PRIVATE PATIO
• RECENT UPDATES
• SCENIC GOLF COURSE VIEWS
• SECOND-STORY BALCONY
• FIRST-FLOOR HOT TUB

Property features AI

Finance

• Other: Subdivision: Garland French Villas
• HOA & community: Monthly association fee

Exterior

• Parking: Detached, paved garage; 1 garage space
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available
• Home design: Residential condominium; Condo lot/setting
• Construction: Has basement (walk-out access)
• Exterior features: Landscaped grounds; Golf course frontage; Private, paved road with private maintenance; Walk-out basement access; Spa / hot tub

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator
• Bedrooms: Master on main level
• Flooring: Hardwood; Tile
• Bathrooms: 3 full bathrooms; 2 half bathrooms; Therapeutic whirlpool
• Heating & cooling: Forced air heating; Natural gas heating; Central heating; Ceiling fans
• Interior features: Vaulted ceilings; Wet bar; Master bedroom on main level; Insert fireplace; Smoke detectors
• Laundry & utility: Washer; Dryer; Laundry on main level

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath condo listed at $62k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-187 ($-2k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $62k).
• Recommended offer: $61k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• Johannesburg-Lewiston Area Schools (rural): math 33% / reading 42% proficiency, ranked #257 of 540 in MI (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 99 active listings in the ZIP; 29 units permitted in Oscoda County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $425 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Oscoda County population projected at -32% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 14y 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: HOA is 63% of rent.

Recommended offer $60,577 (1.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.36% ✓
• Cap rate: 2.65%
• Cash-on-cash: -13.02%
• DSCR: 0.42
• GRM: 3.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -38.7%
• Equity multiple: -0.24×
• Total profit: $-21,285
• Equity at exit: $9,170

10-year hold

• IRR: -47.7%
• Equity multiple: -0.83×
• Total profit: $-31,501
• Equity at exit: $5,317

Cash invested: $17,220 (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 49756

• Active inventory: 99
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,451 medium
• Mortgage (P&I): −$323
• Tax est. 1.5%: −$77 /mo · $922/yr
• Insurance: −$26
• HOA est. from 1 same-building comp: −$908
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $-187

Break-even live

Break-even rent $1,687

Max offer price $34,465

Occupancy floor —

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: $15,375
• Closing costs: $1,845
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-18
   days on market $61,500 Active 27 DOM
2. 2026-06-17
   days on market $61,500 Active 26 DOM
3. 2026-06-16
   days on market $61,500 Active 25 DOM
4. 2026-06-15
   days on market $61,500 Active 24 DOM
5. 2026-06-13
   days on market $61,500 Active 22 DOM
6. 2026-06-12
   days on market $61,500 Active 21 DOM
7. 2026-06-09
   days on market $61,500 Active 18 DOM
8. 2026-06-08
   days on market $61,500 Active 17 DOM
9. 2026-06-07
   days on market $61,500 Active 16 DOM
10. 2026-06-07
    days on market $61,500 Active 15 DOM
11. 2026-06-04
    days on market $61,500 Active 12 DOM
12. 2026-06-02
    days on market $61,500 Active 11 DOM
13. 2026-06-01
    days on market $61,500 Active 10 DOM
14. 2026-05-31
    days on market $61,500 Active 9 DOM
15. 2026-05-31
    days on market $61,500 Active 8 DOM
16. 2026-05-22
    listed $61,500 Active
17. 2024-10-18
    soldstatus $55,000 Closed 484-char remark

    Show marketing remark (484 chars)

    Embrace fractional ownership with this stunning condo, offering one week per month access. Enjoy a fully furnished 4-bed, 4-bath retreat with a cozy fireplace, spacious living areas, and a relaxing hot tub on the private patio. Recent updates including new AC, furnace, dishwasher, and more are sure to enhance your experience. Sit back on the second story balcony and enjoy endless entertainment of oncoming golfers, or unwind in the first-floor hot tub. Schedule your viewing today.

18. 2024-09-20
    status Pending 484-char remark

    Show marketing remark (484 chars)

    Embrace fractional ownership with this stunning condo, offering one week per month access. Enjoy a fully furnished 4-bed, 4-bath retreat with a cozy fireplace, spacious living areas, and a relaxing hot tub on the private patio. Recent updates including new AC, furnace, dishwasher, and more are sure to enhance your experience. Sit back on the second story balcony and enjoy endless entertainment of oncoming golfers, or unwind in the first-floor hot tub. Schedule your viewing today.

19. 2024-05-08
    listed $62,500 Active 484-char remark

    Show marketing remark (484 chars)

    Embrace fractional ownership with this stunning condo, offering one week per month access. Enjoy a fully furnished 4-bed, 4-bath retreat with a cozy fireplace, spacious living areas, and a relaxing hot tub on the private patio. Recent updates including new AC, furnace, dishwasher, and more are sure to enhance your experience. Sit back on the second story balcony and enjoy endless entertainment of oncoming golfers, or unwind in the first-floor hot tub. Schedule your viewing today.

20. 2022-02-28
    soldstatus $37,000
21. 2021-12-08
    listed $39,000
22. 2018-10-26
    soldstatus $35,000
23. 2018-10-09
    listed $39,000
24. 2018-08-31
    listed $39,000
25. 2017-08-03
    listed $39,900
26. 2015-03-31
    soldstatus $30,000
27. 2015-03-03
    listed $30,000
28. 2012-02-16
    listed $65,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥93°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,410
• − Mortgage interest: −$3,445
• − Property taxes: −$922
• − Insurance: −$308
• − Repairs & maintenance: −$1,393
• − Management: −$1,393
• − HOA: −$10,896
• − Depreciation: −$1,789
• Taxable loss: −$2,735
• Est. tax savings @ 24.0%: +$656
• After-tax cash flow: $-1,586/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This home requires moderate repairs and maintenance, with a focus on exterior siding and interior paint. Updates to the exterior and interior can significantly enhance its resale and rental value.

Repairs flagged

• Moderate Exterior siding — Weathered and discoloration
• Minor Carpeted floors — Slight wear

Value-add opportunities

• Resale Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Resale Replace carpeted floors — New flooring improves the home's overall appearance and value
• Resale Update bathrooms — Modernizing bathrooms can significantly increase the home's appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Weathered and discoloration	Moderate	$3,000–15,000
Carpeted floors · Slight wear	Minor	$500–3,000
Total estimated repair cost · 2 items		$3,500–18,000

Value-add ROI direction

• Resale Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Resale Replace carpeted floors — New flooring improves the home's overall appearance and value ↑
• Resale Update bathrooms — Modernizing bathrooms can significantly increase the home's appeal and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Johannesburg-Lewiston Area Schools
• NCES district ID: 2619890
• Math proficiency: 33% ▼ -6.00%
• Reading proficiency: 42% ▼ -10.00%
• Median HH income: $39,218
• Composite: 31.36/100
• National rank: #5995
• State rank: #257 of 540 in MI

Livability — Greenwood

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

Census & demographics

• Population (ZIP): 3,965

Population outlook (Oscoda County) Hauer SSP2

• Today (2025): 7,410 people
• By 2030: 6,884 · -7.1%
• By 2040: 5,853 · -21.0%
• By 2050: 5,055 · -31.8%
• By 2075: 3,832 · -48.3%
• By 2100: 2,863 · -61.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 6%
• Common ancestry: Romanian 14% Lithuanian 8% Iranian 2%
• Foreign-born: 1% · Canada, China
• Languages at home: 98% English-only · Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Oscoda

• 2024 margin: Solid R (+44.3) · D 27.2% · R 71.6% · Other 1.2%
• 2008→2024 swing: -34.3pp toward R · 2008: -10.0pp · 2024: -44.3pp
• All cycles: 2024: R+44.3 2020: R+43.6 2016: R+44.3 2012: R+16.2 2008: R+10.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -111.19%
• Current HPI: 134.8693
• 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

-5.4% since first listed

13 events — show timeline

• 2026-05-22 Listed $61,500 WWMLS
• 2024-10-18 Sold (MLS) $55,000 WWMLS
• 2024-09-20 Pending — WWMLS
• 2024-05-08 Listed $62,500 WWMLS
• 2022-02-28 Sold (MLS) $37,000 WWMLS
• 2021-12-08 Listed $39,000 WWMLS
• 2018-10-26 Sold (MLS) $35,000 WWMLS
• 2018-10-09 Listed $39,000 WWMLS
• 2018-08-31 Listed $39,000 WWMLS
• 2017-08-03 Listed $39,900 WWMLS
• 2015-03-31 Sold (MLS) $30,000 WWMLS
• 2015-03-03 Listed $30,000 WWMLS
• 2012-02-16 Listed $65,000 WWMLS