7237 Myrtle St · Frederic, MI 49733

$109,900

3 bd · 1.0 ba · 1,196 sqft · SingleFamily public records · 31 Days on market

0.31 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 +21.8/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +4.9/10.0
• Schools +3.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Opportunity awaits! 3 bed 1 bath home in Fredric with close proximity to I-75 and the famed Au Sable river. Wonderful Up North location waiting for your finishing touches. 30x20 Pole Barn for storing your outdoor toys minutes from the trails. Call for more information today!

Key facts

• 30x20 pole barn
• Famed au sable river
• 0.31 acre lot

Tags

• CLOSE PROXIMITY TO I-75
• FAMED AU SABLE RIVER
• 30X20 POLE BARN
• MINUTES FROM THE TRAILS

Property features AI

Exterior

• Parking: Has garage
• Utilities: Well water; Septic tank
• Home design: Single-family residence; Residential property
• Construction: Crawl space basement
• Exterior features: Garden; Deck; Paved road access; Vegetation in natural state

Interior

• Kitchen: Microwave; Refrigerator; Oven; Range
• Bedrooms: Master downstairs
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Master bedroom on the main level; Blinds and drapes
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $170 ($2k/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 $109k (1.0% below list).
• Recommended offer: $107k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Crawford Ausable Schools (town): math 43% / reading 50% proficiency, ranked #140 of 540 in MI (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 38 active listings in the ZIP; 75 units permitted in Crawford County in 2024 (32 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($760 loan paydown + $11k appreciation (10.0% local appreciation)).
• Crawford County population projected at -22% 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 31 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.

Recommended offer $106,603 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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: 0.99% ✗
• Cap rate: 8.15%
• Cash-on-cash: 6.64%
• DSCR: 1.30
• GRM: 8.4

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: 29.1%
• Equity multiple: 3.30×
• Total profit: $70,667
• Equity at exit: $99,007

10-year hold

• IRR: 25.3%
• Equity multiple: 7.48×
• Total profit: $199,526
• Equity at exit: $213,512

Cash invested: $30,772 (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 49733

• Home prices YoY: 3.7%
• Active inventory: 38
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,088 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$68 /mo · $811/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $170

Break-even live

Break-even rent $873

Max offer price $109,900

Occupancy floor 79%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $109,900 Active 31 DOM
2. 2026-06-17
   days on market $109,900 Active 30 DOM
3. 2026-06-16
   days on market $109,900 Active 29 DOM
4. 2026-06-15
   days on market $109,900 Active 28 DOM
5. 2026-06-13
   days on market $109,900 Active 26 DOM
6. 2026-06-12
   days on market $109,900 Active 25 DOM
7. 2026-06-09
   days on market $109,900 Active 22 DOM
8. 2026-06-09
   price $109,900 Active 21 DOM
9. 2026-06-08
   days on market $119,900 Active 21 DOM
10. 2026-06-07
    days on market $119,900 Active 20 DOM
11. 2026-06-07
    days on market $119,900 Active 19 DOM
12. 2026-06-04
    days on market $119,900 Active 16 DOM
13. 2026-06-02
    days on market $119,900 Active 15 DOM
14. 2026-06-01
    days on market $119,900 Active 14 DOM
15. 2026-05-31
    days on market $119,900 Active 13 DOM
16. 2026-05-31
    days on market $119,900 Active 12 DOM
17. 2026-05-18
    listed $119,900 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: $811 · $68/mo
• Projected year-2 tax: $1,252 · $104/mo
• Expected delta: +$441/yr (+$37/mo · 54.3%)

ⓘ 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 ≥92°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: $13,062
• − Mortgage interest: −$6,156
• − Property taxes: −$811
• − Insurance: −$550
• − Repairs & maintenance: −$1,045
• − Management: −$1,045
• − Depreciation: −$3,197
• Taxable income: $258
• Est. tax owed @ 24.0%: −$62
• After-tax cash flow: $1,980/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: Crawford Ausable Schools
• NCES district ID: 2611030
• Math proficiency: 43% ▼ -10.00%
• Reading proficiency: 50% ▬ 0.00%
• Median HH income: $40,396
• Composite: 38.94/100
• National rank: #4086
• State rank: #140 of 540 in MI

Livability — Frederic

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

Census & demographics

• Population (ZIP): 1,910

Population outlook (Crawford County) Hauer SSP2

• Today (2025): 13,042 people
• By 2030: 12,520 · -4.0%
• By 2040: 11,292 · -13.4%
• By 2050: 10,157 · -22.1%
• By 2075: 8,338 · -36.1%
• By 2100: 6,765 · -48.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2% Asian 1%
• Common ancestry: Romanian 8% Lithuanian 5% Iranian 3%
• Foreign-born: 2% · Vietnam, Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Crawford

• 2024 margin: Solid R (+33.8) · D 32.5% · R 66.2% · Other 1.3%
• 2008→2024 swing: -32.1pp toward R · 2008: -1.7pp · 2024: -33.8pp
• All cycles: 2024: R+33.8 2020: R+30.7 2016: R+32.8 2012: R+11.0 2008: R+1.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.47%
• Current HPI: 291.6348
• 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

• 2026-05-18 Listed $119,900 WWMLS

Property tax history

+1.3%/yr

Latest (2025): $811 · -36.8% YoY. Source: county tax records.