2764 Sunset Dr · Norvell, MI 49230

$57,900

2 bd · 1.0 ba · 1,056 sqft · Other · 225 Days on market

Built 1990 1,056 sqft lot $55/sqft · 76% below area $726/mo HOA · 61% of rent

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Why this score? — see what drove the F 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).

• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +5.6/30.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lake Living Without the Lakefront Price Tag! Welcome to this charming 1-bedroom, 1-bath (possible 2nd bedroom) waterfront home offering canal access to all-sports Vineyard Lake. Inside, you’ll find an open living area, spacious kitchen and dining, and a bonus room with beautiful lake views — perfect for relaxing or entertaining. Step outside to enjoy the back deck overlooking the water, complete with a 20' aluminum stationary dock, seawall, and space to unwind by the brick firepit for cozy bonfires. Additional features include a storage shed, under-deck storage, all new flooring, new roof and water heather in 2022, and all stainless steel appliances included — making this home move-in ready for year-round enjoyment or a perfect weekend getaway. Experience lake living at its best without the high price — schedule your showing today!

Key facts

• Brick firepit
• Seawall
• Storage shed

Tags

• CANAL ACCESS
• BACK DECK
• 20 ALUMINUM STATIONARY DOCK
• SEAWALL
• BRICK FIREPIT
• STORAGE SHED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $58k.

Deal economics

• At list price, monthly cash flow is $-122 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $36k (37.2% below list).
• Meets the 1% rule at list price ($1k rent vs $58k).
• Recommended offer: $36k (37.2% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• Columbia School District (town): math 30% / reading 51% proficiency, ranked #194 of 540 in MI (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Columbia Elementary School (323 students, 50% FRL); Columbia Central High School (math 30% / reading 55%, grade F, #263 of 713 statewide, top 37%, 654 students, 39% FRL).
• Market conditions: 141 active listings in the ZIP; 317 units permitted in Jackson County in 2024 (103 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $400 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Jackson County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 225 days — a 12% lower offer ($51k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: HOA is 61% of rent.

Recommended offer $36,347 (37.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 225 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
10. 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.
11. 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.
12. 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: 2.07% ✓
• Cap rate: 3.76%
• Cash-on-cash: -9.03%
• DSCR: 0.60
• GRM: 4.0

CMA / ARV

• ARV (median comp): $245,273
• List price: $57,900
• Delta: -76.39%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -31.1%
• Equity multiple: -0.03×
• Total profit: $-16,724
• Equity at exit: $8,633

10-year hold

• IRR: -29.3%
• Equity multiple: -0.41×
• Total profit: $-22,828
• Equity at exit: $5,006

Cash invested: $16,212 (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 49230

• Home prices YoY: -33.5%
• Active inventory: 141
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,198 medium
• Mortgage (P&I): −$304
• Tax from tax record: −$14 /mo · $172/yr
• Insurance: −$24
• HOA: −$726
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $-122

Break-even live

Break-even rent $1,352

Max offer price $36,347

Occupancy floor —

Sensitivity live

Price	-10% $-89	-5% $-106	+0% $-122	+5% $-138	+10% $-155
Rent	-10% $-217	-5% $-169	+0% $-122	+5% $-75	+10% $-27
Rate	-1.0pp $-93	-0.5pp $-107	base $-122	+0.5pp $-137	+1.0pp $-152

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: $14,475
• Closing costs: $1,737
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $726 · $8,712/yr
• Likely covers: water

Listing history 18 events

1. 2026-06-21
   days on market $57,900 Active 225 DOM
2. 2026-06-19
   days on market $57,900 Active 223 DOM
3. 2026-06-18
   days on market $57,900 Active 222 DOM
4. 2026-06-17
   days on market $57,900 Active 221 DOM
5. 2026-06-16
   days on market $57,900 Active 220 DOM
6. 2026-06-15
   days on market $57,900 Active 219 DOM
7. 2026-06-14
   days on market $57,900 Active 217 DOM
8. 2026-06-13
   days on market $57,900 Active 216 DOM
9. 2026-06-10
   days on market $57,900 Active 214 DOM
10. 2026-06-09
    days on market $57,900 Active 213 DOM
11. 2026-06-08
    days on market $57,900 Active 212 DOM
12. 2026-06-07
    pricedays on market $57,900 Active 211 DOM
13. 2026-06-02
    days on market $59,900 Active 206 DOM
14. 2026-06-01
    days on market $59,900 Active 205 DOM
15. 2026-05-31
    days on market $59,900 Active 204 DOM
16. 2026-05-30
    days on market $59,900 Active 203 DOM
17. 2025-11-08
    listed $59,900 Active 867-char remark

    Show marketing remark (849 chars)

    Lake Living Without the Lakefront Price Tag! Welcome to this charming 1-bedroom, 1-bath (possible 2nd bedroom) waterfront home offering canal access to all-sports Vineyard Lake. Inside, you'll find an open living area, spacious kitchen and dining, and a bonus room with beautiful lake views - perfect for relaxing or entertaining. Step outside to enjoy the back deck overlooking the water, complete with a 20' aluminum stationary dock, seawall, and space to unwind by the brick firepit for cozy bonfires. Additional features include a storage shed, under-deck storage, all new flooring, new roof and water heather in 2022, and all stainless steel appliances included - making this home move-in ready for year-round enjoyment or a perfect weekend getaway. Experience lake living at its best without the high price - schedule your showing today!

18. 2025-11-08
    listed $59,900 Active 849-char remark

    Show marketing remark (849 chars)

    Lake Living Without the Lakefront Price Tag! Welcome to this charming 1-bedroom, 1-bath (possible 2nd bedroom) waterfront home offering canal access to all-sports Vineyard Lake. Inside, you'll find an open living area, spacious kitchen and dining, and a bonus room with beautiful lake views - perfect for relaxing or entertaining. Step outside to enjoy the back deck overlooking the water, complete with a 20' aluminum stationary dock, seawall, and space to unwind by the brick firepit for cozy bonfires. Additional features include a storage shed, under-deck storage, all new flooring, new roof and water heather in 2022, and all stainless steel appliances included - making this home move-in ready for year-round enjoyment or a perfect weekend getaway. Experience lake living at its best without the high price - schedule your showing today!

ⓘ 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: $172 · $14/mo
• Projected year-2 tax: $532 · $44/mo
• Expected delta: +$360/yr (+$30/mo · 208.9%)

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

Taxation est. · year 1

• Rental income: $14,371
• − Mortgage interest: −$3,243
• − Property taxes: −$172
• − Insurance: −$290
• − Repairs & maintenance: −$1,150
• − Management: −$1,150
• − HOA: −$8,712
• − Depreciation: −$1,684
• Taxable loss: −$2,030
• Est. tax savings @ 24.0%: +$487
• After-tax cash flow: $-977/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: Columbia School District
• NCES district ID: 2606990
• Math proficiency: 30% ▼ -11.00%
• Reading proficiency: 51% ▼ -9.00%
• Median HH income: $56,099
• Composite: 35.41/100
• National rank: #4941
• State rank: #194 of 540 in MI

Livability — Norvell

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

Census & demographics

• Census place: Vineyard Lake, MI
• Population (ZIP): 10,259

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 156,365 people
• By 2030: 153,123 · -2.1%
• By 2040: 144,981 · -7.3%
• By 2050: 135,671 · -13.2%
• By 2075: 113,833 · -27.2%
• By 2100: 86,592 · -44.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 5%
• Common ancestry: Romanian 10% Slovak 4% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Other Indo-European 1%

Political lean MEDSL · Jackson

• 2024 margin: Strong R (+21.3) · D 38.6% · R 59.9% · Other 1.5%
• 2008→2024 swing: -23.7pp toward R · 2008: 2.4pp · 2024: -21.3pp
• All cycles: 2024: R+21.3 2020: R+19.0 2016: R+20.1 2012: R+5.8 2008: D+2.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -128.18%
• Current HPI: 254.7683
• 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

+0.0% since first listed

2 events — show timeline

• 2025-11-08 Listed $59,900 MiRealSource-MiMLS
• 2025-11-08 Listed $59,900 REALCOMP

Property tax history

+41.7%/yr

Latest (2025): $172 · -0.3% YoY. Source: county tax records.