4811 S 33 1/2 Rd · Selma, MI 49601

$113,900

2 bd · 1.0 ba · 700 sqft · SingleFamily · 78 Days on market

Built 1960 0.37 ac lot $163/sqft · 33% below area Est $169k · 33% under

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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 +20.0/30.0
• ARV discount +15.0/15.0
• DSCR +6.3/10.0
• 1% rule +4.1/10.0
• Schools +4.1/10.0
• 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

Within walking distance of Lake Mitchell and the Lake Mitchell boat launch sits this charming 2-bedroom, 1-bath home. Whether you're a first-time homebuyer or looking for a low-maintenance second home, this property checks all the boxes. Cadillac is a year-round recreation destination, making this an excellent investment opportunity as an Airbnb or long-term rental. The block construction and slab foundation offer peace of mind and minimal upkeep, and the home is tucked on a quiet street just a few miles from M-115 near Cadillac West. Opportunities in locations like this are highly desirable--don't hesitate to schedule your showing, as this one won't last long!

Key facts

• 0.37 acre lot
• Built 1960
• Listed 77 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $114k.

Deal economics

• At list price, monthly cash flow is $139 ($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 $104k (8.7% below list).
• Recommended offer: $104k (8.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Cadillac Area Public Schools (town): math 45% / reading 53% proficiency, ranked #120 of 540 in MI (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lincoln Elementary School (math 39% / reading 43%, grade F, #585 of 1,397 statewide, top 42%, 511 students, 78% FRL); Mackinaw Trail Middle School (math 47% / reading 50%, grade C-, #133 of 493 statewide, top 28%, 750 students, 67% FRL); Cadillac Senior High School (math 32% / reading 57%, grade F, #214 of 713 statewide, top 36%, 907 students, 50% FRL) — zoned schools average 65% FRL vs 49% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 225 active listings in the ZIP; 130 units permitted in Wexford County in 2024 (50 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $787 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Wexford County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $21k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $114k implies a 356% gain — meaningful room to come down on a strong offer.

Recommended offer $104,027 (8.7% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — 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: 0.91% ✗
• Cap rate: 7.76%
• Cash-on-cash: 5.24%
• DSCR: 1.23
• GRM: 9.1

CMA / ARV

• ARV (median comp): $169,134
• List price: $113,900
• Delta: -32.66%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4811 S 33 1/2 Rd	0.00mi	2/1.0	700 (0%)	0mo	$223,900	$320	100
123 Akron St	0.43mi	2/1.0	630 (-10%)	8mo	$60,000	$95	57
3201 W Lake Mitchell Dr	0.38mi	2/1.0	733 (+5%)	22mo	$348,000	$475	56

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: -8.2%
• Equity multiple: 0.70×
• Total profit: $-9,628
• Equity at exit: $16,983

10-year hold

• IRR: 1.3%
• Equity multiple: 1.09×
• Total profit: $2,849
• Equity at exit: $9,848

Cash invested: $31,892 (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 49601

• Home prices YoY: -19.9%
• Active inventory: 225
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,040 medium
• Mortgage (P&I): −$597
• Tax from tax record: −$38 /mo · $452/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $139

Break-even live

Break-even rent $864

Max offer price $113,900

Occupancy floor 82%

Sensitivity live

Price	-10% $204	-5% $172	+0% $139	+5% $107	+10% $75
Rent	-10% $57	-5% $98	+0% $139	+5% $180	+10% $222
Rate	-1.0pp $197	-0.5pp $168	base $139	+0.5pp $110	+1.0pp $80

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: $28,475
• Closing costs: $3,417
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-09
   days on market $113,900 Active 78 DOM
2. 2026-06-08
   days on market $113,900 Active 77 DOM
3. 2026-06-07
   days on market $113,900 Active 76 DOM
4. 2026-06-07
   days on market $113,900 Active 75 DOM
5. 2026-06-04
   days on market $113,900 Active 72 DOM
6. 2026-06-02
   days on market $113,900 Active 71 DOM
7. 2026-06-01
   days on market $113,900 Active 70 DOM
8. 2026-05-31
   days on market $113,900 Active 69 DOM
9. 2026-05-31
   days on market $113,900 Active 68 DOM
10. 2026-04-14
    price $113,900 669-char remark

    Show marketing remark (669 chars)

    Within walking distance of Lake Mitchell and the Lake Mitchell boat launch sits this charming 2-bedroom, 1-bath home. Whether you're a first-time homebuyer or looking for a low-maintenance second home, this property checks all the boxes. Cadillac is a year-round recreation destination, making this an excellent investment opportunity as an Airbnb or long-term rental. The block construction and slab foundation offer peace of mind and minimal upkeep, and the home is tucked on a quiet street just a few miles from M-115 near Cadillac West. Opportunities in locations like this are highly desirable--don't hesitate to schedule your showing, as this one won't last long!

11. 2026-04-14
    price $113,900 669-char remark

    Show marketing remark (669 chars)

    Within walking distance of Lake Mitchell and the Lake Mitchell boat launch sits this charming 2-bedroom, 1-bath home. Whether you're a first-time homebuyer or looking for a low-maintenance second home, this property checks all the boxes. Cadillac is a year-round recreation destination, making this an excellent investment opportunity as an Airbnb or long-term rental. The block construction and slab foundation offer peace of mind and minimal upkeep, and the home is tucked on a quiet street just a few miles from M-115 near Cadillac West. Opportunities in locations like this are highly desirable--don't hesitate to schedule your showing, as this one won't last long!

12. 2026-04-14
    price $113,900

    Show marketing remark (669 chars)

    Within walking distance of Lake Mitchell and the Lake Mitchell boat launch sits this charming 2-bedroom, 1-bath home. Whether you're a first-time homebuyer or looking for a low-maintenance second home, this property checks all the boxes. Cadillac is a year-round recreation destination, making this an excellent investment opportunity as an Airbnb or long-term rental. The block construction and slab foundation offer peace of mind and minimal upkeep, and the home is tucked on a quiet street just a few miles from M-115 near Cadillac West. Opportunities in locations like this are highly desirable--don't hesitate to schedule your showing, as this one won't last long!

13. 2026-04-08
    price $127,900 669-char remark

    Show marketing remark (669 chars)

    Within walking distance of Lake Mitchell and the Lake Mitchell boat launch sits this charming 2-bedroom, 1-bath home. Whether you're a first-time homebuyer or looking for a low-maintenance second home, this property checks all the boxes. Cadillac is a year-round recreation destination, making this an excellent investment opportunity as an Airbnb or long-term rental. The block construction and slab foundation offer peace of mind and minimal upkeep, and the home is tucked on a quiet street just a few miles from M-115 near Cadillac West. Opportunities in locations like this are highly desirable--don't hesitate to schedule your showing, as this one won't last long!

14. 2026-04-08
    price $127,900 669-char remark

    Show marketing remark (669 chars)

    Within walking distance of Lake Mitchell and the Lake Mitchell boat launch sits this charming 2-bedroom, 1-bath home. Whether you're a first-time homebuyer or looking for a low-maintenance second home, this property checks all the boxes. Cadillac is a year-round recreation destination, making this an excellent investment opportunity as an Airbnb or long-term rental. The block construction and slab foundation offer peace of mind and minimal upkeep, and the home is tucked on a quiet street just a few miles from M-115 near Cadillac West. Opportunities in locations like this are highly desirable--don't hesitate to schedule your showing, as this one won't last long!

15. 2026-04-08
    price $127,900

    Show marketing remark (669 chars)

    Within walking distance of Lake Mitchell and the Lake Mitchell boat launch sits this charming 2-bedroom, 1-bath home. Whether you're a first-time homebuyer or looking for a low-maintenance second home, this property checks all the boxes. Cadillac is a year-round recreation destination, making this an excellent investment opportunity as an Airbnb or long-term rental. The block construction and slab foundation offer peace of mind and minimal upkeep, and the home is tucked on a quiet street just a few miles from M-115 near Cadillac West. Opportunities in locations like this are highly desirable--don't hesitate to schedule your showing, as this one won't last long!

16. 2026-03-20
    listed $134,900 Active 669-char remark

    Show marketing remark (669 chars)

    Within walking distance of Lake Mitchell and the Lake Mitchell boat launch sits this charming 2-bedroom, 1-bath home. Whether you're a first-time homebuyer or looking for a low-maintenance second home, this property checks all the boxes. Cadillac is a year-round recreation destination, making this an excellent investment opportunity as an Airbnb or long-term rental. The block construction and slab foundation offer peace of mind and minimal upkeep, and the home is tucked on a quiet street just a few miles from M-115 near Cadillac West. Opportunities in locations like this are highly desirable--don't hesitate to schedule your showing, as this one won't last long!

17. 2026-03-20
    listed $134,900 Active 669-char remark

    Show marketing remark (669 chars)

    Within walking distance of Lake Mitchell and the Lake Mitchell boat launch sits this charming 2-bedroom, 1-bath home. Whether you're a first-time homebuyer or looking for a low-maintenance second home, this property checks all the boxes. Cadillac is a year-round recreation destination, making this an excellent investment opportunity as an Airbnb or long-term rental. The block construction and slab foundation offer peace of mind and minimal upkeep, and the home is tucked on a quiet street just a few miles from M-115 near Cadillac West. Opportunities in locations like this are highly desirable--don't hesitate to schedule your showing, as this one won't last long!

18. 2026-03-20
    listed $134,900 Active

    Show marketing remark (669 chars)

    Within walking distance of Lake Mitchell and the Lake Mitchell boat launch sits this charming 2-bedroom, 1-bath home. Whether you're a first-time homebuyer or looking for a low-maintenance second home, this property checks all the boxes. Cadillac is a year-round recreation destination, making this an excellent investment opportunity as an Airbnb or long-term rental. The block construction and slab foundation offer peace of mind and minimal upkeep, and the home is tucked on a quiet street just a few miles from M-115 near Cadillac West. Opportunities in locations like this are highly desirable--don't hesitate to schedule your showing, as this one won't last long!

19. 2017-05-03
    soldstatus $25,000
20. 2015-04-09
    soldstatus $25,000

ⓘ 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: $452 · $38/mo
• Projected year-2 tax: $1,103 · $92/mo
• Expected delta: +$651/yr (+$54/mo · 144.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥92°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,483
• − Mortgage interest: −$6,380
• − Property taxes: −$452
• − Insurance: −$570
• − Repairs & maintenance: −$999
• − Management: −$999
• − Depreciation: −$3,313
• Taxable loss: −$229
• Est. tax savings @ 24.0%: +$55
• After-tax cash flow: $1,728/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: Cadillac Area Public Schools
• NCES district ID: 2607590
• Math proficiency: 45% ▼ -6.00%
• Reading proficiency: 53% ▼ -4.00%
• Median HH income: $41,543
• Composite: 41.12/100
• National rank: #3562
• State rank: #120 of 540 in MI

Livability — Selma

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

Census & demographics

• Population (ZIP): 22,121

Population outlook (Wexford County) Hauer SSP2

• Today (2025): 32,399 people
• By 2030: 31,692 · -2.2%
• By 2040: 29,789 · -8.1%
• By 2050: 27,473 · -15.2%
• By 2075: 21,822 · -32.6%
• By 2100: 15,237 · -53.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 2% Black 1%
• Common ancestry: Iranian 7% Romanian 6% Lithuanian 4%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Wexford

• 2024 margin: Solid R (+34.6) · D 32.0% · R 66.6% · Other 1.5%
• 2008→2024 swing: -30.4pp toward R · 2008: -4.2pp · 2024: -34.6pp
• All cycles: 2024: R+34.6 2020: R+34.3 2016: R+36.4 2012: R+16.3 2008: R+4.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -85.43%
• Current HPI: 344.1577
• 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

+355.6% since first listed

11 events — show timeline

• 2026-04-14 Price Changed $113,900 MiRealSource-MiMLS
• 2026-04-14 Price Changed $113,900 REALCOMP
• 2026-04-14 Price Changed $113,900 SW Michigan MLS
• 2026-04-08 Price Changed $127,900 MiRealSource-MiMLS
• 2026-04-08 Price Changed $127,900 REALCOMP
• 2026-04-08 Price Changed $127,900 SW Michigan MLS
• 2026-03-20 Listed $134,900 SW Michigan MLS
• 2026-03-20 Listed $134,900 REALCOMP
• 2026-03-20 Listed $134,900 MiRealSource-MiMLS
• 2017-05-03 Sold (Public Records) $25,000 Public Records
• 2015-04-09 Sold (Public Records) $25,000 Public Records

Property tax history

-8.1%/yr

Latest (2025): $452 · -82.2% YoY. Source: county tax records.