4979 21 Mile Rd · Marion, MI 49665

$54,900

3 bd · 1.0 ba · 910 sqft · SingleFamily · 176 Days on market

Built 1974 0.30 ac lot $60/sqft · 36% below area Est $86k · 36% under

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Why this score? — see what drove the A 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
• Appreciation +10.0/10.0
• Schools +3.8/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Check out this 3 bed, 1 bath home on lot 26 of Flemming Lake Subdivision. Great spot for an up-north getaway, hunting, or recreation camp with shared access to Flemming Lake and the Middle Branch River. Just up the road from the public river access and public land. Home has been renovated and updated nicely over the last few years. Good income potential as a rental, or a great spot to eventually build your dream home. Because the home is a 1974 mobile, financing options are limited. Seller is a licensed real estate agent in the state of Michigan. Take a look!

Key facts

• Renovated
• Income potential
• Updated

Tags

• SHARED ACCESS TO FLEMMING LAKE
• PUBLIC RIVER ACCESS
• RENOVATED
• UPDATED
• INCOME POTENTIAL

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $340 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($910 rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#607 in MI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: schools D+, crime F, amenities F.
• Marion Public Schools (rural): math 33% / reading 53% proficiency, ranked #328 of 760 in MI (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 31 active listings in the ZIP; 5 units permitted in Osceola County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($380 loan paydown + $5k appreciation (10.0% local appreciation)).
• Osceola County population projected at -24% 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 $15k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 176 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 4y ago; this cycle's ask has dropped $10k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $21k; list at $55k implies a 161% gain — meaningful room to come down on a strong offer.

Recommended offer $48,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 176 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 1974 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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: 1.66% ✓
• Cap rate: 13.72%
• Cash-on-cash: 26.51%
• DSCR: 2.18
• GRM: 5.0

CMA / ARV

• ARV (median comp): $85,931
• List price: $54,900
• Delta: -36.11%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 44.3%
• Equity multiple: 4.35×
• Total profit: $51,541
• Equity at exit: $49,458

10-year hold

• IRR: 38.4%
• Equity multiple: 9.77×
• Total profit: $134,800
• Equity at exit: $106,659

Cash invested: $15,372 (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 49665

• Home prices YoY: 11.3%
• Active inventory: 31
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $910 medium
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $824/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$191
• Net cashflow: $340

Break-even live

Break-even rent $480

Max offer price $54,900

Occupancy floor 58%

Sensitivity live

Price	-10% $378	-5% $359	+0% $340	+5% $321	+10% $302
Rent	-10% $268	-5% $304	+0% $340	+5% $376	+10% $411
Rate	-1.0pp $367	-0.5pp $354	base $340	+0.5pp $325	+1.0pp $311

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: $13,725
• Closing costs: $1,647
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-05-10
   price $54,900 565-char remark

   Show marketing remark (565 chars)

   Check out this 3 bed, 1 bath home on lot 26 of Flemming Lake Subdivision. Great spot for an up-north getaway, hunting, or recreation camp with shared access to Flemming Lake and the Middle Branch River. Just up the road from the public river access and public land. Home has been renovated and updated nicely over the last few years. Good income potential as a rental, or a great spot to eventually build your dream home. Because the home is a 1974 mobile, financing options are limited. Seller is a licensed real estate agent in the state of Michigan. Take a look!

2. 2026-05-10
   price $54,900 565-char remark

   Show marketing remark (565 chars)

   Check out this 3 bed, 1 bath home on lot 26 of Flemming Lake Subdivision. Great spot for an up-north getaway, hunting, or recreation camp with shared access to Flemming Lake and the Middle Branch River. Just up the road from the public river access and public land. Home has been renovated and updated nicely over the last few years. Good income potential as a rental, or a great spot to eventually build your dream home. Because the home is a 1974 mobile, financing options are limited. Seller is a licensed real estate agent in the state of Michigan. Take a look!

3. 2026-05-10
   price $54,900

   Show marketing remark (565 chars)

   Check out this 3 bed, 1 bath home on lot 26 of Flemming Lake Subdivision. Great spot for an up-north getaway, hunting, or recreation camp with shared access to Flemming Lake and the Middle Branch River. Just up the road from the public river access and public land. Home has been renovated and updated nicely over the last few years. Good income potential as a rental, or a great spot to eventually build your dream home. Because the home is a 1974 mobile, financing options are limited. Seller is a licensed real estate agent in the state of Michigan. Take a look!

4. 2026-01-20
   price $59,900 565-char remark

   Show marketing remark (565 chars)

   Check out this 3 bed, 1 bath home on lot 26 of Flemming Lake Subdivision. Great spot for an up-north getaway, hunting, or recreation camp with shared access to Flemming Lake and the Middle Branch River. Just up the road from the public river access and public land. Home has been renovated and updated nicely over the last few years. Good income potential as a rental, or a great spot to eventually build your dream home. Because the home is a 1974 mobile, financing options are limited. Seller is a licensed real estate agent in the state of Michigan. Take a look!

5. 2026-01-19
   price $59,900 565-char remark

   Show marketing remark (565 chars)

   Check out this 3 bed, 1 bath home on lot 26 of Flemming Lake Subdivision. Great spot for an up-north getaway, hunting, or recreation camp with shared access to Flemming Lake and the Middle Branch River. Just up the road from the public river access and public land. Home has been renovated and updated nicely over the last few years. Good income potential as a rental, or a great spot to eventually build your dream home. Because the home is a 1974 mobile, financing options are limited. Seller is a licensed real estate agent in the state of Michigan. Take a look!

6. 2026-01-19
   price $59,900

   Show marketing remark (565 chars)

   Check out this 3 bed, 1 bath home on lot 26 of Flemming Lake Subdivision. Great spot for an up-north getaway, hunting, or recreation camp with shared access to Flemming Lake and the Middle Branch River. Just up the road from the public river access and public land. Home has been renovated and updated nicely over the last few years. Good income potential as a rental, or a great spot to eventually build your dream home. Because the home is a 1974 mobile, financing options are limited. Seller is a licensed real estate agent in the state of Michigan. Take a look!

7. 2025-12-01
   listed $64,900 Active 565-char remark

   Show marketing remark (565 chars)

   Check out this 3 bed, 1 bath home on lot 26 of Flemming Lake Subdivision. Great spot for an up-north getaway, hunting, or recreation camp with shared access to Flemming Lake and the Middle Branch River. Just up the road from the public river access and public land. Home has been renovated and updated nicely over the last few years. Good income potential as a rental, or a great spot to eventually build your dream home. Because the home is a 1974 mobile, financing options are limited. Seller is a licensed real estate agent in the state of Michigan. Take a look!

8. 2025-12-01
   listed $64,900 Active 565-char remark

   Show marketing remark (565 chars)

   Check out this 3 bed, 1 bath home on lot 26 of Flemming Lake Subdivision. Great spot for an up-north getaway, hunting, or recreation camp with shared access to Flemming Lake and the Middle Branch River. Just up the road from the public river access and public land. Home has been renovated and updated nicely over the last few years. Good income potential as a rental, or a great spot to eventually build your dream home. Because the home is a 1974 mobile, financing options are limited. Seller is a licensed real estate agent in the state of Michigan. Take a look!

9. 2025-12-01
   listed $64,900 Active

   Show marketing remark (565 chars)

   Check out this 3 bed, 1 bath home on lot 26 of Flemming Lake Subdivision. Great spot for an up-north getaway, hunting, or recreation camp with shared access to Flemming Lake and the Middle Branch River. Just up the road from the public river access and public land. Home has been renovated and updated nicely over the last few years. Good income potential as a rental, or a great spot to eventually build your dream home. Because the home is a 1974 mobile, financing options are limited. Seller is a licensed real estate agent in the state of Michigan. Take a look!

10. 2022-10-17
    soldstatus $21,000 Sold
11. 2022-10-17
    soldstatus $21,000 Sold
12. 2022-10-06
    status Pending
13. 2022-10-06
    status Pending
14. 2022-10-06
    historical
15. 2022-05-13
    listed $44,900 Active
16. 2022-05-13
    listed $44,900
17. 2022-05-13
    listed $44,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $10,921
• − Mortgage interest: −$3,075
• − Property taxes: −$824
• − Insurance: −$274
• − Repairs & maintenance: −$874
• − Management: −$874
• − Depreciation: −$1,597
• Taxable income: $3,403
• Est. tax owed @ 24.0%: −$817
• After-tax cash flow: $3,258/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: Marion Public Schools
• NCES district ID: 2622800
• Math proficiency: 33% ▲ 16.00%
• Reading proficiency: 53% ▲ 31.00%
• Median HH income: $35,461
• Composite: 37.86/100
• National rank: #8710
• State rank: #328 of 760 in MI

Livability — Marion

• Score: 59/100
• State rank: #607
• US rank: #20314

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment F Housing A Health & safety D- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,022

Population outlook (Osceola County) Hauer SSP2

• Today (2025): 21,724 people
• By 2030: 20,769 · -4.4%
• By 2040: 18,720 · -13.8%
• By 2050: 16,611 · -23.5%
• By 2075: 11,942 · -45.0%
• By 2100: 7,546 · -65.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Iranian 11% Romanian 3% Lithuanian 2%
• Foreign-born: 0%
• Languages at home: 94% English-only · German/W. Germanic 5% Spanish 1%

Political lean MEDSL · Osceola

• 2024 margin: Solid R (+47.9) · D 25.2% · R 73.1% · Other 1.7%
• 2008→2024 swing: -37.7pp toward R · 2008: -10.1pp · 2024: -47.9pp
• All cycles: 2024: R+47.9 2020: R+46.3 2016: R+43.7 2012: R+21.0 2008: R+10.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 26.88%
• Current HPI: 264.0932
• 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

+22.3% since first listed

17 events — show timeline

• 2026-05-10 Price Changed $54,900 MiRealSource-MiMLS
• 2026-05-10 Price Changed $54,900 REALCOMP
• 2026-05-10 Price Changed $54,900 SW Michigan MLS
• 2026-01-20 Price Changed $59,900 MiRealSource-MiMLS
• 2026-01-19 Price Changed $59,900 REALCOMP
• 2026-01-19 Price Changed $59,900 SW Michigan MLS
• 2025-12-01 Listed $64,900 REALCOMP
• 2025-12-01 Listed $64,900 SW Michigan MLS
• 2025-12-01 Listed $64,900 MiRealSource-MiMLS
• 2022-10-17 Sold (MLS) $21,000 SW Michigan MLS
• 2022-10-17 Sold (MLS) $21,000 REALCOMP
• 2022-10-06 Pending — REALCOMP
• 2022-10-06 Pending — SW Michigan MLS
• 2022-10-06 Listing Removed — MiRealSource-MiMLS
• 2022-05-13 Listed $44,900 SW Michigan MLS
• 2022-05-13 Listed $44,900 MiRealSource-MiMLS
• 2022-05-13 Listed $44,900 REALCOMP