22730 Banks Rd · Hillman, MI 49746

$110,000

2 bd · 1.0 ba · 720 sqft · SingleFamily public records · 245 Days on market

Built 1970 7.81 ac lot

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

• Appreciation +10.0/10.0
• Cash flow +9.2/30.0
• ARV discount +7.5/15.0
• Livability +3.1/5.0
• DSCR +2.6/10.0
• Schools +2.6/10.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Quiet and private setting at the end of the dead end street. 30x40 Pole barn with lean to and a 20x30 barn. With some TLC this home would be a great year round home, hobby farm or just simply a place to escape to. Lots of wild life and a few minutes from town.

Key facts

• Hobby farm
• Pole barn
• Barn

Tags

• QUIET SETTING
• PRIVATE SETTING
• POLE BARN
• LEAN TO
• BARN
• HOBBY FARM

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Private well water; Septic tank sewer
• Home design: Single-family residence; Residential acreage (rural setting); 7.81-acre lot
• Exterior features: Barns, shed, and workshop on the property; Natural vegetation; Dirt road access

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Propane heating
• Interior features: Fireplace
• Laundry & utility: No laundry hookups inside; Crawl space basement (no finished basement)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $-82 ($-989/yr) — negative.
• To cash-flow at today's rent, offer at most $95k (13.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $83k (24.7% below list).
• Recommended offer: $83k (24.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#575 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: crime F, amenities F, commute F.
• Hillman Community Schools (rural): math 22% / reading 40% proficiency, ranked #361 of 540 in MI (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hillman Elementary School (math 17% / reading 27%, grade F, #1,035 of 1,397 statewide, top 77%, 187 students, 61% FRL); Hillman Community Jrsr High School (math 27% / reading 47%, grade F, #334 of 713 statewide, top 51%, 228 students, 50% FRL) — zoned schools at 55% FRL track the district average.
• Market conditions: 38 active listings in the ZIP.

Forward outlook

• In year one you build about $12k of equity ($761 loan paydown + $11k appreciation (10.0% local appreciation)).
• Montmorency County population projected at -38% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 245 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.

Recommended offer $82,846 (24.7% 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. It's been on market 245 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.75% ✗
• Cap rate: 5.39%
• Cash-on-cash: -3.21%
• DSCR: 0.86
• GRM: 11.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.0%
• Equity multiple: 2.77×
• Total profit: $54,656
• Equity at exit: $99,097

10-year hold

• IRR: 19.8%
• Equity multiple: 6.36×
• Total profit: $165,079
• Equity at exit: $213,706

Cash invested: $30,800 (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 49746

• Home prices YoY: 5.7%
• Active inventory: 38
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $828 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$114 /mo · $1,371/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$174
• Net cashflow: $-82

Break-even live

Break-even rent $933

Max offer price $95,436

Occupancy floor —

Sensitivity live

Price	-10% $-20	-5% $-51	+0% $-82	+5% $-114	+10% $-145
Rent	-10% $-148	-5% $-115	+0% $-82	+5% $-50	+10% $-17
Rate	-1.0pp $-27	-0.5pp $-54	base $-82	+0.5pp $-111	+1.0pp $-140

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-17
   status $110,000 Pending 245 DOM
2. 2026-06-16
   days on market $110,000 Active 245 DOM
3. 2026-06-15
   days on market $110,000 Active 244 DOM
4. 2026-06-13
   days on market $110,000 Active 242 DOM
5. 2026-06-12
   days on market $110,000 Active 241 DOM
6. 2026-06-09
   days on market $110,000 Active 238 DOM
7. 2026-06-09
   pricestatus $110,000 Active 237 DOM
8. 2026-06-08
   days on market $115,000 Active Under Contract 237 DOM
9. 2026-06-07
   days on market $115,000 Active Under Contract 236 DOM
10. 2026-06-07
    days on market $115,000 Active Under Contract 235 DOM
11. 2026-06-04
    days on market $115,000 Active Under Contract 232 DOM
12. 2026-06-02
    days on market $115,000 Active Under Contract 231 DOM
13. 2026-06-01
    days on market $115,000 Active Under Contract 230 DOM
14. 2026-05-31
    days on market $115,000 Active Under Contract 229 DOM
15. 2026-05-31
    days on market $115,000 Active Under Contract 228 DOM
16. 2025-11-20
    historical Active Under Contract
17. 2025-10-13
    listed $115,000 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: $1,371 · $114/mo
• Projected year-2 tax: $1,532 · $128/mo
• Expected delta: +$162/yr (+$13/mo · 11.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥94°F today · 12 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: $9,942
• − Mortgage interest: −$6,162
• − Property taxes: −$1,371
• − Insurance: −$550
• − Repairs & maintenance: −$795
• − Management: −$795
• − Depreciation: −$3,200
• Taxable loss: −$2,932
• Est. tax savings @ 24.0%: +$704
• After-tax cash flow: $-286/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: Hillman Community Schools
• NCES district ID: 2618360
• Math proficiency: 22% ▬ 0.00%
• Reading proficiency: 40% ▲ 3.00%
• Median HH income: $37,668
• Composite: 25.78/100
• National rank: #7368
• State rank: #361 of 540 in MI

Livability — Hillman

• Score: 61/100
• State rank: #575
• US rank: #18368

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,502

Population outlook (Montmorency County) Hauer SSP2

• Today (2025): 8,233 people
• By 2030: 7,575 · -8.0%
• By 2040: 6,202 · -24.7%
• By 2050: 5,081 · -38.3%
• By 2075: 3,119 · -62.1%
• By 2100: 1,923 · -76.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 1% Native American 1%
• Common ancestry: Romanian 9% Lithuanian 6% Slovak 2%
• Foreign-born: 1% · Canada

Political lean MEDSL · Montmorency

• 2024 margin: Solid R (+45.3) · D 26.6% · R 72.0% · Other 1.4%
• 2008→2024 swing: -37.2pp toward R · 2008: -8.2pp · 2024: -45.3pp
• All cycles: 2024: R+45.3 2020: R+43.4 2016: R+44.2 2012: R+17.4 2008: R+8.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.19%
• Current HPI: 208.751
• 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

2 events — show timeline

• 2025-11-20 Contingent — WWMLS
• 2025-10-13 Listed $115,000 WWMLS

Property tax history

+18.7%/yr

Latest (2024): $1,371 · +38.1% YoY. Source: county tax records.