4864 S One Rd · Slagle, MI 49638

$12,116

2 bd · 1.0 ba · 1,152 sqft · SingleFamily · 3 Days on market

Built 1970 0.50 ac lot

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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 +15.0/30.0
• Appreciation +9.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Unique 2 bedroom hideaway bungalow located on a half acre wooded lot in Harrietta, near the Manistee River, state land and trailheads. Just minutes to Caberfae This cabin has great potential for a vacation space once it's taken to the next level.

Key facts

• Half acre wooded lot
• Trailheads
• State land

Tags

• HALF ACRE WOODED LOT
• NEAR THE MANISTEE RIVER
• STATE LAND
• TRAILHEADS

Property features AI

Finance

• Other: Property classified as residential; Subdivision: Metes and Bounds; Zoned residential

Exterior

• Parking: Attached garage (1 car)
• Utilities: No public water; No public sewer
• Home design: Single-family residence; One and one-half stories
• Construction: Wood siding construction
• Exterior features: Wooded lot; Shed(s) on the property; Lot dimensions approximately 104 x 208

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: No heating; No cooling
• Interior features: Crawl space basement; Total of 3 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $12k.

Deal economics

• At list price, monthly cash flow is $730 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $12k).

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Mesick Consolidated Schools (rural): math 25% / reading 47% proficiency, ranked #286 of 540 in MI (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 4 active listings in the ZIP; 130 units permitted in Wexford County in 2024 (50 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($84 loan paydown + $958 appreciation (7.9% local appreciation)).
• Wexford County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (7.9% appreciation + 3.0% rent growth), your $3k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

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

• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $12,116

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 8.50% ✓
• Cap rate: 78.56%
• Cash-on-cash: 258.11%
• DSCR: 12.48
• GRM: 1.0

CMA / ARV

• ARV (on-the-fly): $320,256
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7864 S 1 ½ Rd	0.00mi	2/1.0	1,014 (-12%)	19mo	$282,000	$278	64

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

Projected returns pro-forma

7.91% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 16.15×
• Total profit: $51,410
• Equity at exit: $9,130

10-year hold

• IRR: —
• Equity multiple: 34.80×
• Total profit: $114,663
• Equity at exit: $18,052

Cash invested: $3,392 (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 49638

• Home prices YoY: 1.9%
• Active inventory: 4
• Price-to-rent: 1.0×

Monthly cashflow live

• Estimated rent: $1,030 medium
• Mortgage (P&I): −$64
• Tax est. 1.5%: −$15 /mo · $182/yr
• Insurance: −$5
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $730

Break-even live

Break-even rent $106

Max offer price $12,116

Occupancy floor 24%

Sensitivity live

Price	-10% $738	-5% $734	+0% $730	+5% $725	+10% $721
Rent	-10% $648	-5% $689	+0% $730	+5% $770	+10% $811
Rate	-1.0pp $736	-0.5pp $733	base $730	+0.5pp $727	+1.0pp $723

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: $3,029
• Closing costs: $363
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-01
   days on market $12,116 Active 3 DOM
2. 2026-05-31
   days on market $12,116 Active 2 DOM
3. 2026-05-29
   listed $12,116 Active 246-char remark

   Show marketing remark (246 chars)

   Unique 2 bedroom hideaway bungalow located on a half acre wooded lot in Harrietta, near the Manistee River, state land and trailheads. Just minutes to Caberfae This cabin has great potential for a vacation space once it's taken to the next level.

4. 2026-05-29
   listed $12,116 Active

   Show marketing remark (246 chars)

   Unique 2 bedroom hideaway bungalow located on a half acre wooded lot in Harrietta, near the Manistee River, state land and trailheads. Just minutes to Caberfae This cabin has great potential for a vacation space once it's taken to the next level.

ⓘ 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 8/10 Severe 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥96°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,356
• − Mortgage interest: −$679
• − Property taxes: −$182
• − Insurance: −$61
• − Repairs & maintenance: −$988
• − Management: −$988
• − Depreciation: −$352
• Taxable income: $9,105
• Est. tax owed @ 24.0%: −$2,185
• After-tax cash flow: $6,571/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: Mesick Consolidated Schools
• NCES district ID: 2623670
• Math proficiency: 25% ▼ -3.00%
• Reading proficiency: 47% ▲ 1.00%
• Median HH income: $38,415
• Composite: 29.98/100
• National rank: #6367
• State rank: #286 of 540 in MI

Livability — Slagle

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

Census & demographics

• Population (ZIP): 817

Population outlook (Wexford County) Hauer SSP2

• Today (2025): 32,399 people
• By 2030: 31,692 · -2.2%
• By 2040: 29,789 · -8.1%
• By 2050: 27,473 · -15.2%
• By 2075: 21,822 · -32.6%
• By 2100: 15,237 · -53.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 12% Hispanic / Latino 7% Black 2%
• Hispanic origin (detail): Mexican 3% Cuban 2%
• Common ancestry: Romanian 8% Iranian 3% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Wexford

• 2024 margin: Solid R (+34.6) · D 32.0% · R 66.6% · Other 1.5%
• 2008→2024 swing: -30.4pp toward R · 2008: -4.2pp · 2024: -34.6pp
• All cycles: 2024: R+34.6 2020: R+34.3 2016: R+36.4 2012: R+16.3 2008: R+4.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.91%
• Current HPI: 420.8577
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-29 Listed $12,116 REALCOMP
• 2026-05-29 Listed $12,116 MiRealSource-MiMLS