6825 S Homestead Rd · Sault Ste. Marie, MI 49783

$179,000

3 bd · 2.0 ba · 1,248 sqft · Manufactured public records · 20 Days on market

Built 1998 20 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).

• Cash flow +15.1/30.0
• ARV discount +7.5/15.0
• DSCR +4.6/10.0
• Schools +3.3/10.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

3 bedroom 2 bath raised ranch, located on 20 wooded acres. Home is on a walk out crawl space , high enough to finish if one needed more space. Sugar Island is a beautiful year round accessible location. Enjoy the wildlife and privacy Sugar Island offers. Thousands of acres of public use land to enjoy if desired.

Key facts

• 20 wooded acres
• Public use land
• Wildlife and privacy

Tags

• 20 WOODED ACRES
• WALK OUT CRAWL SPACE
• WILDLIFE AND PRIVACY
• PUBLIC USE LAND

Property features AI

Exterior

• Utilities: Septic tank
• Home design: Manufactured double-wide home; One level
• Construction: Vinyl siding; Asphalt roof
• Exterior features: Deck; Shed(s); Wooded lot

Interior

• Kitchen: Electric range; Refrigerator; Dishwasher not listed
• Flooring: Laminate; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced-air heating; Propane heating
• Interior features: Dryer, Washer, Electric Range, Refrigerator; Laminate and tile flooring; Basement with sump pump, crawl space, and walk-out access
• Laundry & utility: Main level laundry; Dryer and washer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $179k.

Deal economics

• At list price, monthly cash flow is $59 ($709/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 $143k (20.3% below list).
• Recommended offer: $143k (20.3% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 4.4% in Sault Ste. Marie — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Sault Ste. Marie Area Schools (town): math 35% / reading 44% proficiency, ranked #230 of 540 in MI (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sault Area Middle School (math 35% / reading 46%, grade F, #202 of 493 statewide, top 42%, 533 students, 50% FRL).
• Market conditions: 129 active listings in the ZIP; 92 units permitted in Chippewa County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Chippewa County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($176k) is reasonable based on typical stale-listing flexibility.

Recommended offer $142,635 (20.3% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
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: 0.80% ✗
• Cap rate: 6.69%
• Cash-on-cash: 1.42%
• DSCR: 1.06
• GRM: 10.5

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: -14.1%
• Equity multiple: 0.49×
• Total profit: $-25,324
• Equity at exit: $26,689

10-year hold

• IRR: -5.4%
• Equity multiple: 0.65×
• Total profit: $-17,539
• Equity at exit: $15,477

Cash invested: $50,120 (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 49783

• Active inventory: 129
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,426 medium
• Mortgage (P&I): −$939
• Tax from tax record: −$54 /mo · $653/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $59

Break-even live

Break-even rent $1,352

Max offer price $179,000

Occupancy floor 91%

Sensitivity live

Price	-10% $160	-5% $110	+0% $59	+5% $8	+10% $-42
Rent	-10% $-54	-5% $3	+0% $59	+5% $115	+10% $172
Rate	-1.0pp $149	-0.5pp $105	base $59	+0.5pp $13	+1.0pp $-34

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-22
   days on market $179,000 Active 20 DOM
2. 2026-06-21
   days on market $179,000 Active 19 DOM
3. 2026-06-21
   days on market $179,000 Active 18 DOM
4. 2026-06-18
   days on market $179,000 Active 16 DOM
5. 2026-06-17
   days on market $179,000 Active 15 DOM
6. 2026-06-16
   days on market $179,000 Active 14 DOM
7. 2026-06-15
   days on market $179,000 Active 13 DOM
8. 2026-06-13
   days on market $179,000 Active 11 DOM
9. 2026-06-12
   days on market $179,000 Active 10 DOM
10. 2026-06-09
    days on market $179,000 Active 7 DOM
11. 2026-06-08
    days on market $179,000 Active 6 DOM
12. 2026-06-07
    days on market $179,000 Active 5 DOM
13. 2026-06-07
    days on market $179,000 Active 4 DOM
14. 2026-06-03
    remarks 313-char remark
15. 2026-06-03
    listed $179,000 Active 1 DOM

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

Tax reassessment forecast MI · Partial reset (capped growth)

• Current annual tax: $653 · $54/mo
• Projected year-2 tax: $1,705 · $142/mo
• Expected delta: +$1,052/yr (+$88/mo · 161.0%)

ⓘ 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 ≥88°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: $17,116
• − Mortgage interest: −$10,027
• − Property taxes: −$653
• − Insurance: −$895
• − Repairs & maintenance: −$1,369
• − Management: −$1,369
• − Depreciation: −$5,207
• Taxable loss: −$2,405
• Est. tax savings @ 24.0%: +$577
• After-tax cash flow: $1,286/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: Sault Ste. Marie Area Schools
• NCES district ID: 2630990
• Math proficiency: 35% ▼ -9.00%
• Reading proficiency: 44% ▼ -12.00%
• Median HH income: $40,273
• Composite: 33.12/100
• National rank: #5559
• State rank: #230 of 540 in MI

Livability — Sault Ste. Marie

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

Census & demographics

• Population (ZIP): 18,778

Population outlook (Chippewa County) Hauer SSP2

• Today (2025): 37,043 people
• By 2030: 36,431 · -1.7%
• By 2040: 34,911 · -5.8%
• By 2050: 33,350 · -10.0%
• By 2075: 29,789 · -19.6%
• By 2100: 24,171 · -34.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Native American 14% Two or more races 13% Hispanic / Latino 2%
• Common ancestry: Lithuanian 6% Romanian 6% Slovak 4%
• Foreign-born: 4% · Canada, Vietnam, Guatemala
• Languages at home: 95% English-only · Spanish 1% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Chippewa

• 2024 margin: Strong R (+24.2) · D 37.0% · R 61.3% · Other 1.7%
• 2008→2024 swing: -23.8pp toward R · 2008: -0.5pp · 2024: -24.2pp
• All cycles: 2024: R+24.2 2020: R+22.9 2016: R+24.2 2012: R+7.6 2008: R+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -183.63%
• Current HPI: 149.9878
• 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

• 2026-06-02 Listed $179,000 EUPBR

Property tax history

-6.8%/yr

Latest (2024): $653 · -32.9% YoY. Source: county tax records.