11606 Ossineke Rd · Sanborn, MI 49766

$79,900

2 bd · 1.0 ba · 1,004 sqft · SingleFamily public records · 39 Days on market

Built 1945 0.32 ac lot $80/sqft · 40% below area Est $133k · 40% under

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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 +28.9/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +6.7/10.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Calling all investors and visionaries. This 2-bedroom, 1-bath cutie is in a prime spot near amenities, close to campgrounds, and the beach. Yes, she needs a little love but at this price, the potential is hard to beat. Detached 1-car garage, and a chance to make it completely your own. .. sounds like a win. Affordable and ready for its glow up. New well was put in 5 years ago; furnace is 5 years old and water heater is 6 years old. Home is being sold AS IS, no land contracts. Cash or 203k buyers only.

Key facts

• New well
• Water heater
• Furnace

Tags

• DETACHED GARAGE
• NEW WELL
• FURNACE
• WATER HEATER

Property features AI

Exterior

• Parking: Detached garage (1 car)
• Utilities: Private well water; Septic tank sewer
• Home design: Single-family residence; Residential property
• Construction: Slab foundation
• Exterior features: Paved road access; Lot dimensions approximately 100 x 138

Interior

• Kitchen: Refrigerator; Oven; Range
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating; Wall furnace; Ceiling fan(s) for cooling
• Interior features: Refrigerator; Oven; Range
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $270 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($938 rent vs $80k).
• Recommended offer: $78k (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.
• Alpena Public Schools (town): math 26% / reading 38% proficiency, ranked #345 of 540 in MI (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 5 active listings in the ZIP; 46 units permitted in Alpena County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Alpena County population projected at -24% 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 $22k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 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 1945 — 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: 1.17% ✓
• Cap rate: 10.36%
• Cash-on-cash: 14.51%
• DSCR: 1.65
• GRM: 7.1

CMA / ARV

• ARV (median comp): $132,535
• List price: $79,900
• Delta: -39.71%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11606 Ossineke Rd	0.00mi	2/1.0	1,004 (0%)	0mo	$70,000	$70	100
2383 Couture St	0.44mi	2/2.0	1,040 (+4%)	16mo	$148,000	$142	56
2380 Larose St	0.24mi	3/1.0 (+1)	1,120 (+12%)	12mo	$98,000	$88	55

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: 4.9%
• Equity multiple: 1.19×
• Total profit: $4,243
• Equity at exit: $11,913

10-year hold

• IRR: 14.3%
• Equity multiple: 2.15×
• Total profit: $25,730
• Equity at exit: $6,908

Cash invested: $22,372 (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 49766

• Home prices YoY: -30.6%
• Active inventory: 5
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $938 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$18 /mo · $216/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$197
• Net cashflow: $270

Break-even live

Break-even rent $595

Max offer price $79,900

Occupancy floor 66%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-07
   statusdays on market $79,900 Pending 39 DOM
2. 2026-06-04
   days on market $79,900 Active Under Contract 37 DOM
3. 2026-06-02
   days on market $79,900 Active Under Contract 36 DOM
4. 2026-06-01
   days on market $79,900 Active Under Contract 35 DOM
5. 2026-05-31
   days on market $79,900 Active Under Contract 34 DOM
6. 2026-05-31
   days on market $79,900 Active Under Contract 33 DOM
7. 2026-05-07
   historical Active Under Contract 506-char remark
8. 2026-04-27
   listed $79,900 Active 506-char remark
9. 2017-10-17
   soldstatus $25,000
10. 2013-05-03
    soldstatus $25,000
11. 1993-09-08
    soldstatus $15,000

ⓘ 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: $216 · $18/mo
• Projected year-2 tax: $723 · $60/mo
• Expected delta: +$507/yr (+$42/mo · 234.6%)

ⓘ 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 · 12 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: $11,252
• − Mortgage interest: −$4,476
• − Property taxes: −$216
• − Insurance: −$400
• − Repairs & maintenance: −$900
• − Management: −$900
• − Depreciation: −$2,324
• Taxable income: $2,036
• Est. tax owed @ 24.0%: −$489
• After-tax cash flow: $2,757/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: Alpena Public Schools
• NCES district ID: 2602730
• Math proficiency: 26% ▼ -7.00%
• Reading proficiency: 38% ▼ -7.00%
• Median HH income: $39,327
• Composite: 26.8/100
• National rank: #7119
• State rank: #345 of 540 in MI

Livability — Sanborn

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

Census & demographics

• Census place: Ossineke, MI
• Population (ZIP): 2,498

Population outlook (Alpena County) Hauer SSP2

• Today (2025): 27,245 people
• By 2030: 26,142 · -4.0%
• By 2040: 23,449 · -13.9%
• By 2050: 20,729 · -23.9%
• By 2075: 15,422 · -43.4%
• By 2100: 10,723 · -60.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (99%)
• Race & ethnicity: White 99% Two or more races 1%
• Common ancestry: Romanian 9% Lithuanian 8% Iranian 7%
• Foreign-born: 2% · Canada
• Languages at home: 90% English-only · German/W. Germanic 9% French/Haitian/Cajun 1%

Political lean MEDSL · Alpena

• 2024 margin: Strong R (+28.6) · D 35.1% · R 63.7% · Other 1.2%
• 2008→2024 swing: -32.5pp toward R · 2008: 3.9pp · 2024: -28.6pp
• All cycles: 2024: R+28.6 2020: R+27.6 2016: R+28.7 2012: R+5.3 2008: D+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -86.26%
• Current HPI: 195.3029
• 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

+366.7% since first listed

7 events — show timeline

• 2026-06-12 Sold (MLS) $70,000 WWMLS
• 2026-06-05 Pending — WWMLS
• 2026-05-07 Contingent — WWMLS
• 2026-04-27 Listed $79,900 WWMLS
• 2017-10-17 Sold (Public Records) $25,000 Public Records
• 2013-05-03 Sold (Public Records) $25,000 Public Records
• 1993-09-08 Sold (Public Records) $15,000 Public Records

Property tax history

-4.3%/yr

Latest (2025): $216 · -74.2% YoY. Source: county tax records.