1002 Superior St · Sault Ste. Marie, MI 49783

$84,000

3 bd · 1.0 ba · 888 sqft · SingleFamily public records · 205 Days on market

Built 1920 $95/sqft · 41% below area Est $143k · 41% under

---

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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A 3-bedroom home under $100,000 is hard to find these days, and this one is a solid option. Great for first-time buyers or as a rental investment, it offers 3 bedrooms on the second floor, with bath and laundry on the main level. Enjoy an enclosed front porch, enclosed side entry, and a full basement for storage. Features include 100-amp breakers, a Williamson furnace with a new motor, and a cement parking pad off the alley. Vacant and easy to show!

Key facts

• 100-amp breakers
• Full basement
• Enclosed side entry

Tags

• ENCLOSED FRONT PORCH
• ENCLOSED SIDE ENTRY
• FULL BASEMENT
• 100-AMP BREAKERS
• WILLIAMSON FURNACE
• CEMENT PARKING PAD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $84k.

Deal economics

• At list price, monthly cash flow is $471 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $84k).
• Recommended offer: $74k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.0% vs local median 4.5% 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 B — 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.
• Market conditions: 125 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $581 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 205 days — a 12% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $15k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $29k; list at $84k implies a 190% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $73,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 205 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.57% ✓
• Cap rate: 13.02%
• Cash-on-cash: 24.04%
• DSCR: 2.07
• GRM: 5.3

CMA / ARV

• ARV (median comp): $143,079
• List price: $84,000
• Delta: -41.29%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1301 Kimball St	0.19mi	3/1.0	840 (-5%)	8mo	$135,000	$161	75
815 John St	0.35mi	2/1.0 (-1)	885 (-0%)	5mo	$104,000	$118	74
1108 Seymour	0.27mi	2/1.5 (-1)	883 (-1%)	10mo	$70,000	$79	71
1501 Swinton St	0.36mi	2/1.5 (-1)	912 (+3%)	3mo	$144,500	$158	69
813 E 9th Ave	0.36mi	3/1.0	816 (-8%)	10mo	$145,000	$178	61
811 Augusta St	0.22mi	3/1.0	995 (+12%)	12mo	$149,900	$151	60
810 Court St	0.40mi	3/1.5	985 (+11%)	2mo	$75,000	$76	59
1612 Minneapolis St	0.44mi	3/1.0	1,002 (+13%)	3mo	$95,000	$95	55
1600 Superior St	0.38mi	2/1.0 (-1)	980 (+10%)	13mo	$152,000	$155	49
532 Cedar St	0.52mi	2/1.0 (-1)	792 (-11%)	6mo	$110,000	$139	48
1307 Davitt St	0.59mi	2/1.0 (-1)	816 (-8%)	10mo	$120,000	$147	45
122 W 10th Ave	0.65mi	2/1.0 (-1)	982 (+11%)	6mo	$125,000	$127	42

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: 17.3%
• Equity multiple: 1.70×
• Total profit: $16,408
• Equity at exit: $12,525

10-year hold

• IRR: 25.8%
• Equity multiple: 3.25×
• Total profit: $52,976
• Equity at exit: $7,263

Cash invested: $23,520 (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: 125
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,315 medium
• Mortgage (P&I): −$441
• Tax from tax record: −$92 /mo · $1,106/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $471

Break-even live

Break-even rent $719

Max offer price $84,000

Occupancy floor 59%

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: $21,000
• Closing costs: $2,520
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
215 Osborn Blvd Sault Ste. Marie, MI	2.0	1.0	994	$1,315	$1.32	43d	2	0.82mi

Listing history 24 events

1. 2026-06-18
   days on market $84,000 Active 205 DOM
2. 2026-06-17
   days on market $84,000 Active 204 DOM
3. 2026-06-17
   price $84,000 Active 203 DOM
4. 2026-06-16
   days on market $89,000 Active 203 DOM
5. 2026-06-15
   days on market $89,000 Active 202 DOM
6. 2026-06-13
   days on market $89,000 Active 200 DOM
7. 2026-06-12
   days on market $89,000 Active 199 DOM
8. 2026-06-09
   days on market $89,000 Active 196 DOM
9. 2026-06-08
   days on market $89,000 Active 195 DOM
10. 2026-06-07
    days on market $89,000 Active 194 DOM
11. 2026-06-07
    days on market $89,000 Active 193 DOM
12. 2026-06-04
    days on market $89,000 Active 190 DOM
13. 2026-06-02
    days on market $89,000 Active 189 DOM
14. 2026-06-01
    days on market $89,000 Active 188 DOM
15. 2026-05-31
    days on market $89,000 Active 187 DOM
16. 2026-05-31
    days on market $89,000 Active 186 DOM
17. 2026-05-08
    price $89,000 453-char remark

    Show marketing remark (453 chars)

    A 3-bedroom home under $100,000 is hard to find these days, and this one is a solid option. Great for first-time buyers or as a rental investment, it offers 3 bedrooms on the second floor, with bath and laundry on the main level. Enjoy an enclosed front porch, enclosed side entry, and a full basement for storage. Features include 100-amp breakers, a Williamson furnace with a new motor, and a cement parking pad off the alley. Vacant and easy to show!

18. 2025-11-25
    listed $99,000 Active 453-char remark

    Show marketing remark (453 chars)

    A 3-bedroom home under $100,000 is hard to find these days, and this one is a solid option. Great for first-time buyers or as a rental investment, it offers 3 bedrooms on the second floor, with bath and laundry on the main level. Enjoy an enclosed front porch, enclosed side entry, and a full basement for storage. Features include 100-amp breakers, a Williamson furnace with a new motor, and a cement parking pad off the alley. Vacant and easy to show!

19. 2025-09-16
    status Active
20. 2025-08-14
    price $109,000
21. 2025-07-03
    price $119,000
22. 2025-06-12
    listed $129,000 Active
23. 2019-12-23
    soldstatus $29,000
24. 2011-07-28
    soldstatus $38,200

ⓘ 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: $1,106 · $92/mo
• Projected year-2 tax: $1,200 · $100/mo
• Expected delta: +$94/yr (+$8/mo · 8.5%)

ⓘ 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 1/10 Low
• 🌡 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: $15,780
• − Mortgage interest: −$4,705
• − Property taxes: −$1,106
• − Insurance: −$420
• − Repairs & maintenance: −$1,262
• − Management: −$1,262
• − Depreciation: −$2,444
• Taxable income: $4,580
• Est. tax owed @ 24.0%: −$1,099
• After-tax cash flow: $4,555/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

• Census place: Sault Ste. Marie, MI
• 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

+133.0% since first listed

8 events — show timeline

• 2026-05-08 Price Changed $89,000 EUPBR
• 2025-11-25 Listed $99,000 EUPBR
• 2025-09-16 Relisted — EUPBR
• 2025-08-14 Price Changed $109,000 EUPBR
• 2025-07-03 Price Changed $119,000 EUPBR
• 2025-06-12 Listed $129,000 EUPBR
• 2019-12-23 Sold (Public Records) $29,000 Public Records
• 2011-07-28 Sold (Public Records) $38,200 Public Records

Property tax history

-0.6%/yr

Latest (2024): $1,106 · +192.7% YoY. Source: county tax records.