31 Forest Lodge Rd · Kinross, MI 49788

$85,000

3 bd · 1.5 ba · 1,144 sqft · Condo public records · 19 Days on market

Built 1960

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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 +30.0/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Ranch condo now available! - 1144 sq ft All one level, with 3 bedrooms, 1 1/2 bathrooms and a 1 car garage. Seller has made significant improvements with new siding, windows, electrical, flooring, custom kitchen cabinets, stainless steel appliances including dishwasher. Newer furnace with central air conditioning. Centrally located in the Eastern Upper Peninsula of Michigan with access to state land, trails, and The Oaks 18-hole golf course. Within minutes to airport and highway. HOA fee of $80/month includes grass mowing, snow plowing and garage maintenance. This home was seller's primary residence for 20 years. Currently tenant occupied, 24 hr notice of showing requests are appreciated.

Key facts

• New siding
• Access to state land
• New windows

Tags

• NEW SIDING
• NEW WINDOWS
• CUSTOM KITCHEN CABINETS
• STAINLESS STEEL APPLIANCES
• CENTRAL AIR CONDITIONING
• ACCESS TO STATE LAND

Property features AI

Exterior

• Parking: Detached garage (1 car); 1 total parking space
• Home design: Single-family residential condo; One level
• Construction: Vinyl siding; Built as one-story structure
• Exterior features: Porch

Interior

• Kitchen: Electric range; Refrigerator
• Flooring: Hardwood; Laminate
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Electric range; Refrigerator; Hardwood flooring; Laminate flooring; Crawl space basement
• Laundry & utility: Main level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $85k.

Deal economics

• At list price, monthly cash flow is $321 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $84k (1.5% 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.
• Rudyard Area Schools (rural): math 34% / reading 42% proficiency, ranked #245 of 540 in MI (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 6 active listings in the ZIP; 92 units permitted in Chippewa County in 2024 (40 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($588 loan paydown + $8k appreciation (10.0% local appreciation)).
• Chippewa County population projected at -10% 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 $24k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($84k) is reasonable based on typical stale-listing flexibility.

Recommended offer $83,725 (1.5% below list)

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.31% ✓
• Cap rate: 10.82%
• Cash-on-cash: 16.19%
• DSCR: 1.72
• GRM: 6.4

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: 36.3%
• Equity multiple: 3.80×
• Total profit: $66,736
• Equity at exit: $76,575

10-year hold

• IRR: 31.2%
• Equity multiple: 8.58×
• Total profit: $180,442
• Equity at exit: $165,136

Cash invested: $23,800 (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 49788

• Home prices YoY: 12.3%
• Active inventory: 6
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,109 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$74 /mo · $890/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $321

Break-even live

Break-even rent $703

Max offer price $85,000

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: electricsnow removal
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-18
   days on market $85,000 Active 19 DOM
2. 2026-06-17
   days on market $85,000 Active 18 DOM
3. 2026-06-16
   days on market $85,000 Active 17 DOM
4. 2026-06-15
   days on market $85,000 Active 16 DOM
5. 2026-06-13
   days on market $85,000 Active 14 DOM
6. 2026-06-12
   days on market $85,000 Active 13 DOM
7. 2026-06-09
   days on market $85,000 Active 10 DOM
8. 2026-06-08
   days on market $85,000 Active 9 DOM
9. 2026-06-07
   days on market $85,000 Active 8 DOM
10. 2026-06-05
    days on market $85,000 Active 6 DOM
11. 2026-06-04
    days on market $85,000 Active 4 DOM
12. 2026-06-02
    days on market $85,000 Active 3 DOM
13. 2026-06-01
    days on market $85,000 Active 2 DOM
14. 2026-05-31
    remarks 697-char remark
15. 2026-05-31
    listed $85,000 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: $890 · $74/mo
• Projected year-2 tax: $1,099 · $92/mo
• Expected delta: +$210/yr (+$17/mo · 23.5%)

ⓘ 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 · 14 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: $13,312
• − Mortgage interest: −$4,761
• − Property taxes: −$890
• − Insurance: −$425
• − Repairs & maintenance: −$1,065
• − Management: −$1,065
• − Depreciation: −$2,473
• Taxable income: $2,633
• Est. tax owed @ 24.0%: −$632
• After-tax cash flow: $3,220/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: Rudyard Area Schools
• NCES district ID: 2630360
• Math proficiency: 34% ▼ -11.00%
• Reading proficiency: 42% ▲ 2.00%
• Median HH income: $40,299
• Composite: 31.88/100
• National rank: #5865
• State rank: #245 of 540 in MI

Livability — Kinross

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

Census & demographics

• Census place: Kincheloe, MI
• Population (ZIP): 3,979

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: Highly diverse neighborhood (Simpson 0.76)
• Race & ethnicity: White 45% Black 18% Native American 17% Two or more races 14% Hispanic / Latino 5% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 2% Arabic 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: ▲ 18.24%
• Current HPI: 165.9577
• 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

• 2026-05-30 Listed $85,000 EUPBR

Property tax history

+2.5%/yr

Latest (2021): $890 · +0.5% YoY. Source: county tax records.