5435 Edgewood Dr · Greenwood, MI 49756

$144,900

4 bd · 1.0 ba · 1,056 sqft · SingleFamily public records · 3 Days on market

0.90 ac lot Est $133k · 9% over

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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 +15.4/30.0
• DSCR +4.7/10.0
• ARV discount +3.5/15.0
• Schools +3.1/10.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This affordable 4-bed, 2-bath home 'fixer-upper' nestled on three spacious, campers allowed lots totaling approximately 0.9 acres is ready for your vision and personal finishing touches! The home features a newer addition with a peaceful side porch overlooking a beautifully landscaped rock garden and fountain. Interior improvements include warm knotty pine accents, newer carpeting and laminate flooring, a newer furnace and washer, and brand-new hickory kitchen cabinets. Whether you're seeking a year-round residence, weekend getaway, or investment opportunity, this property offers endless potential and private lake community living at an attractive price point. Moon Lake is a private lake fo

Key facts

• Fountain
• Peaceful side porch
• Knotty pine accents

Tags

• PEACEFUL SIDE PORCH
• LANDSCAPED ROCK GARDEN
• FOUNTAIN
• KNOTTY PINE ACCENTS
• HICKORY KITCHEN CABINETS
• PRIVATE LAKE COMMUNITY

Property features AI

Finance

• HOA & community: Association fee billed annually

Exterior

• Utilities: Well water; Septic tank
• Home design: Single-family residence (residential); Residential lot in Valleywood Estates
• Construction: Crawl space or no basement
• Exterior features: Garden; Shed(s); On waterfront (Moon Lake); Paved road access; Vegetation in natural state

Interior

• Kitchen: Dishwasher; Microwave; Oven/Range; Refrigerator
• Flooring: Simulated wood flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Ceiling fans; Has cooling
• Interior features: Vaulted ceilings; Blinds and drapes
• Laundry & utility: Washer and dryer included; Laundry on the main level

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $55 ($656/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 $114k (21.0% below list).
• Recommended offer: $114k (21.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Johannesburg-Lewiston Area Schools (rural): math 33% / reading 42% proficiency, ranked #257 of 540 in MI (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Johannesburglewiston High School (math 34% / reading 54%, grade F, #214 of 713 statewide, top 36%, 218 students, 59% FRL).
• Market conditions: 101 active listings in the ZIP; 29 units permitted in Oscoda County in 2024 (0 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 $4k of value loss. Plan a longer hold.
• Oscoda County population projected at -32% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $114,439 (21.0% 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: 0.79% ✗
• Cap rate: 6.75%
• Cash-on-cash: 1.62%
• DSCR: 1.07
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $133,056
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5265 Woodridge Dr	0.45mi	3/1.0 (-1)	1,049 (-1%)	11mo	$132,000	$126	64

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: -13.8%
• Equity multiple: 0.51×
• Total profit: $-20,074
• Equity at exit: $21,605

10-year hold

• IRR: -5.0%
• Equity multiple: 0.67×
• Total profit: $-13,305
• Equity at exit: $12,528

Cash invested: $40,572 (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 49756

• Active inventory: 101
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,144 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$29 /mo · $350/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$240
• Net cashflow: $55

Break-even live

Break-even rent $1,075

Max offer price $144,900

Occupancy floor 90%

Sensitivity live

Price	-10% $137	-5% $96	+0% $55	+5% $14	+10% $-27
Rent	-10% $-36	-5% $9	+0% $55	+5% $100	+10% $145
Rate	-1.0pp $128	-0.5pp $92	base $55	+0.5pp $17	+1.0pp $-21

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-22
   days on market $144,900 Active 3 DOM
2. 2026-06-21
   days on market $144,900 Active 2 DOM
3. 2026-06-21
   remarks 699-char remark
4. 2026-06-21
   listed $144,900 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: $350 · $29/mo
• Projected year-2 tax: $1,291 · $108/mo
• Expected delta: +$941/yr (+$78/mo · 269.0%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate 20% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥93°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: $13,733
• − Mortgage interest: −$8,117
• − Property taxes: −$350
• − Insurance: −$724
• − Repairs & maintenance: −$1,099
• − Management: −$1,099
• − Depreciation: −$4,215
• Taxable loss: −$1,871
• Est. tax savings @ 24.0%: +$449
• After-tax cash flow: $1,105/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: Johannesburg-Lewiston Area Schools
• NCES district ID: 2619890
• Math proficiency: 33% ▼ -6.00%
• Reading proficiency: 42% ▼ -10.00%
• Median HH income: $39,218
• Composite: 31.36/100
• National rank: #5995
• State rank: #257 of 540 in MI

Livability — Greenwood

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

Census & demographics

• Population (ZIP): 3,965

Population outlook (Oscoda County) Hauer SSP2

• Today (2025): 7,410 people
• By 2030: 6,884 · -7.1%
• By 2040: 5,853 · -21.0%
• By 2050: 5,055 · -31.8%
• By 2075: 3,832 · -48.3%
• By 2100: 2,863 · -61.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 6%
• Common ancestry: Romanian 14% Lithuanian 8% Iranian 2%
• Foreign-born: 1% · Canada, China
• Languages at home: 98% English-only · Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Oscoda

• 2024 margin: Solid R (+44.3) · D 27.2% · R 71.6% · Other 1.2%
• 2008→2024 swing: -34.3pp toward R · 2008: -10.0pp · 2024: -44.3pp
• All cycles: 2024: R+44.3 2020: R+43.6 2016: R+44.3 2012: R+16.2 2008: R+10.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -111.19%
• Current HPI: 134.8693
• 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

• 2026-06-19 Listed $144,900 WWMLS

Property tax history

+2.8%/yr

Latest (2025): $350 · -38.7% YoY. Source: county tax records.