10 Acres Milosh Ln · McMillan, MI 49768

$89,000

2 bd · 1.0 ba · 676 sqft · SingleFamily · 4 Days on market

Fair condition 10 ac lot

---

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 +16.6/30.0
• Appreciation +8.2/10.0
• ARV discount +7.5/15.0
• DSCR +5.2/10.0
• 1% rule +4.5/10.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks

Hulbert area, this very beautiful cabin for hunting, ATV, snowmobiling, fishing, all season fun is now on the market. Hulbert is a great area to view the wildlife, The East Branch of the Tahquamenon is just down the road for fishing and canoeing, Cabin has generator and gas hook up and is fully operational. cell phones work also. call for appointment to view. Seasonal excess snowmobile in winter. also 70 A to the NW 79,000 listing number 26-479

Key facts

• View the wildlife
• Cabin for hunting
• Atv snowmobiling

Tags

• CABIN FOR HUNTING
• ATV SNOWMOBILING
• FISHING ALL SEASON FUN
• VIEW THE WILDLIFE
• EAST BRANCH OF THE TAHQUAMENON
• GENERATOR AND GAS HOOK UP

Property features AI

Exterior

• Utilities: Well water; Septic system
• Home design: Residential cabin; Single-story
• Construction: 10-acre lot; Zoned Forest REC
• Exterior features: Asphalt roof; Shed(s); Cul-de-sac lot with a few trees

Interior

• Kitchen: Gas range; Refrigerator
• Bathrooms: One three-quarter bathroom
• Heating & cooling: Space heater; No central air conditioning
• Interior features: Double-pane windows; Gas range; Refrigerator; Five total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $89k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $54 ($653/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $85k (4.8% below list).
• Recommended offer: $85k (4.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Tahquamenon Area Schools (town): math 23% / reading 37% proficiency, ranked #374 of 540 in MI (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 46 active listings in the ZIP; 9 units permitted in Luce County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($615 loan paydown + $6k appreciation (6.5% local appreciation)).
• Luce County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.5% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $84,745 (4.8% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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: 0.95% ✗
• Cap rate: 7.03%
• Cash-on-cash: 2.62%
• DSCR: 1.12
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.46% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.6%
• Equity multiple: 2.27×
• Total profit: $31,609
• Equity at exit: $58,537

10-year hold

• IRR: 17.9%
• Equity multiple: 4.60×
• Total profit: $89,710
• Equity at exit: $108,464

Cash invested: $24,920 (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 49768

• Home prices YoY: 3.6%
• Active inventory: 46
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $847 medium
• Mortgage (P&I): −$467
• Tax est. 1.5%: −$111 /mo · $1,335/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$178
• Net cashflow: $54

Break-even live

Break-even rent $779

Max offer price $89,000

Occupancy floor 89%

Sensitivity live

Price	-10% $116	-5% $85	+0% $54	+5% $24	+10% $-7
Rent	-10% $-13	-5% $21	+0% $54	+5% $88	+10% $121
Rate	-1.0pp $99	-0.5pp $77	base $54	+0.5pp $31	+1.0pp $8

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-21
   days on market $89,000 Active 4 DOM
2. 2026-06-18
   days on market $89,000 Active 2 DOM
3. 2026-06-17
   remarks 448-char remark
4. 2026-06-17
   remarks 399-char remark
5. 2026-06-17
   listed $89,000 Active 1 DOM

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

Taxation est. · year 1

• Rental income: $10,169
• − Mortgage interest: −$4,985
• − Property taxes: −$1,335
• − Insurance: −$445
• − Repairs & maintenance: −$814
• − Management: −$814
• − Depreciation: −$2,589
• Taxable loss: −$812
• Est. tax savings @ 24.0%: +$195
• After-tax cash flow: $848/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 · 1 photo

Fair 45/100 Moderate rehab

This cabin requires significant exterior and interior repairs and updates to improve its condition and value.

Repairs flagged

• Major siding — Significant wear and tear
• Major flooring — Worn and possibly damaged
• Major interior walls/paint — Needs repainting and repair

Value-add opportunities

• Both painting and repairing the exterior — Enhances curb appeal and interior appearance
• Both replacing worn flooring — Improves living space and rental appeal
• Both repairing and repainting interior walls — Enhances interior appearance and rental appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Significant wear and tear	Major	$15,000–50,000
flooring · Worn and possibly damaged	Major	$15,000–50,000
interior walls/paint · Needs repainting and repair	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both painting and repairing the exterior — Enhances curb appeal and interior appearance ↑
• Both replacing worn flooring — Improves living space and rental appeal ↑
• Both repairing and repainting interior walls — Enhances interior appearance and rental appeal ↑

ⓘ 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: Tahquamenon Area Schools
• NCES district ID: 2625350
• Math proficiency: 23% ▼ -1.00%
• Reading proficiency: 37% ▼ -4.00%
• Median HH income: $38,217
• Composite: 25.03/100
• National rank: #7553
• State rank: #374 of 540 in MI

Livability — McMillan

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

Census & demographics

• Population (ZIP): 359

Population outlook (Luce County) Hauer SSP2

• Today (2025): 6,185 people
• By 2030: 6,049 · -2.2%
• By 2040: 5,756 · -6.9%
• By 2050: 5,481 · -11.4%
• By 2075: 4,729 · -23.5%
• By 2100: 3,631 · -41.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 2% Native American 2%
• Common ancestry: Slovak 8% Lithuanian 7% Romanian 7%
• Foreign-born: 3% · Canada

Political lean MEDSL · Luce

• 2024 margin: Solid R (+46.9) · D 25.8% · R 72.7% · Other 1.5%
• 2008→2024 swing: -36.0pp toward R · 2008: -10.9pp · 2024: -46.9pp
• All cycles: 2024: R+46.9 2020: R+42.2 2016: R+41.7 2012: R+22.2 2008: R+10.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.46%
• Current HPI: 184.9743
• 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

1 event — show timeline

• 2026-06-16 Listed $89,000 EUPBR