W1069 Cth N · Kingsford, MI 54151

$69,900

2 bd · 1.5 ba · 768 sqft · Other · 86 Days on market

Built 1966 1.07 ac lot ↓ 7% 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 +28.0/30.0
• DSCR +9.9/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Livability +3.9/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Perfect opportunity to get a little home with a big view! The house is a 1966 mobile home and is ready for a redo. It's attached to a nice cement block foundation with a forced warm air gas furnace. The laundry space is a closet on the main level. The backyard is picturesque with a steep drop off with a wooded view to the south. There is a detached 2 car garage. The mobile home has framed roof over the top that creates porches on the front and back of the structure. Sold AS IS. Room dimensions were taken using a Cubicasa scan. Agent is related to the seller.

Key facts

• Framed roof
• Laundry space
• Picturesque backyard

Tags

• CEMENT BLOCK FOUNDATION
• LAUNDRY SPACE
• PICTURESQUE BACKYARD
• WOODED VIEW
• FRAMED ROOF
• PORCHES

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath other listed at $70k.

Deal economics

• At list price, monthly cash flow is $218 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($869 rent vs $70k).
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 3.8% in Kingsford — 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 78/100 on livability (#104 in MI, #2,537 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Florence County School District (rural): math 35% / reading 40% proficiency, ranked #293 of 426 in WI (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 38 units permitted in Florence County in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Florence County population projected at -14% 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 $20k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.

Recommended offer $65,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — 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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.24% ✓
• Cap rate: 10.03%
• Cash-on-cash: 13.35%
• DSCR: 1.59
• GRM: 6.7

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: 3.4%
• Equity multiple: 1.13×
• Total profit: $2,545
• Equity at exit: $10,422

10-year hold

• IRR: 12.9%
• Equity multiple: 2.03×
• Total profit: $20,089
• Equity at exit: $6,044

Cash invested: $19,572 (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 54151

• Home prices YoY: -15.1%
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $869 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$73 /mo · $874/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$182
• Net cashflow: $218

Break-even live

Break-even rent $593

Max offer price $69,900

Occupancy floor 70%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-01-28
   status Pending
2. 2025-12-09
   price $69,900
3. 2025-10-31
   listed $74,900 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: $874 · $73/mo
• Projected year-2 tax: $975 · $81/mo
• Expected delta: +$101/yr (+$8/mo · 11.6%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥93°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,424
• − Mortgage interest: −$3,915
• − Property taxes: −$874
• − Insurance: −$350
• − Repairs & maintenance: −$834
• − Management: −$834
• − Depreciation: −$2,033
• Taxable income: $1,584
• Est. tax owed @ 24.0%: −$380
• After-tax cash flow: $2,233/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: Florence County School District
• NCES district ID: 5504650
• Math proficiency: 35% ▬ 0.00%
• Reading proficiency: 40% ▬ 0.00%
• Median HH income: $45,179
• Composite: 34.48/100
• National rank: #10144
• State rank: #293 of 426 in WI

Livability — Kingsford

• Score: 78/100
• State rank: #104
• US rank: #2537

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 6,014
• Population (ZIP): 3,495

Population outlook (Florence County) Hauer SSP2

• Today (2025): 4,537 people
• By 2030: 4,511 · -0.6%
• By 2040: 4,301 · -5.2%
• By 2050: 3,904 · -14.0%
• By 2075: 3,192 · -29.6%
• By 2100: 2,459 · -45.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 4%
• Common ancestry: Romanian 10% Lithuanian 10% English 4%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Florence

• 2024 margin: Solid R (+49.8) · D 24.8% · R 74.6%
• 2008→2024 swing: -35.7pp toward R · 2008: -14.1pp · 2024: -49.8pp
• All cycles: 2024: R+49.8 2020: R+46.0 2016: R+46.4 2012: R+26.4 2008: R+14.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -38.54%
• Current HPI: 216.2083
• 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

-6.7% since first listed

3 events — show timeline

• 2026-01-28 Pending — RANW
• 2025-12-09 Price Changed $69,900 RANW
• 2025-10-31 Listed $74,900 RANW

Property tax history

+0.8%/yr

Latest (2025): $874 · +7.5% YoY. Source: county tax records.