1540 S National City Rd · Sand Lake, MI 48748

$86,000

2 bd · 1.0 ba · 1,417 sqft · SingleFamily public records

Built 1957 1.07 ac lot

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Rural setting home sitting on a little over an acre of land, ready for your immediate enjoyment. This well-maintained home has 2 bedrooms and 1 full bathroom. There are 2 large bonus rooms with a detached 2-car garage. This is a must see home.

Key facts

• 1.07 acre lot
• 2 garage spots
• Built 1957

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $86k.

Deal economics

• At list price, monthly cash flow is $354 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $86k).

Location & tenants

• Location reads 63/100 on livability (#528 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety C-, schools F, amenities F.
• Whittemore-Prescott Area Schools (rural): math 11% / reading 25% proficiency, ranked #488 of 540 in MI (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 24 active listings in the ZIP; 58 units permitted in Iosco County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $595 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Iosco County population projected at -14% 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 ~7 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 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: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $86,000

Questions for the listing agent

1. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 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: 1.27% ✓
• Cap rate: 11.23%
• Cash-on-cash: 17.64%
• DSCR: 1.78
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 9.1%
• Equity multiple: 1.36×
• Total profit: $8,567
• Equity at exit: $12,823

10-year hold

• IRR: 18.2%
• Equity multiple: 2.51×
• Total profit: $36,334
• Equity at exit: $7,436

Cash invested: $24,080 (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 48748

• Home prices YoY: -6.8%
• Active inventory: 24
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,091 medium
• Mortgage (P&I): −$451
• Tax from tax record: −$21 /mo · $252/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $354

Break-even live

Break-even rent $643

Max offer price $86,000

Occupancy floor 63%

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: $21,500
• Closing costs: $2,580
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-04-25
   historical

   Show marketing remark (243 chars)

   Rural setting home sitting on a little over an acre of land, ready for your immediate enjoyment. This well-maintained home has 2 bedrooms and 1 full bathroom. There are 2 large bonus rooms with a detached 2-car garage. This is a must see home.

2. 2026-04-25
   historical 243-char remark

   Show marketing remark (243 chars)

   Rural setting home sitting on a little over an acre of land, ready for your immediate enjoyment. This well-maintained home has 2 bedrooms and 1 full bathroom. There are 2 large bonus rooms with a detached 2-car garage. This is a must see home.

3. 2026-04-22
   listed $86,000

   Show marketing remark (243 chars)

   Rural setting home sitting on a little over an acre of land, ready for your immediate enjoyment. This well-maintained home has 2 bedrooms and 1 full bathroom. There are 2 large bonus rooms with a detached 2-car garage. This is a must see home.

4. 2026-04-22
   listed $86,000 243-char remark

   Show marketing remark (243 chars)

   Rural setting home sitting on a little over an acre of land, ready for your immediate enjoyment. This well-maintained home has 2 bedrooms and 1 full bathroom. There are 2 large bonus rooms with a detached 2-car garage. This is a must see home.

ⓘ 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: $252 · $21/mo
• Projected year-2 tax: $788 · $66/mo
• Expected delta: +$536/yr (+$45/mo · 212.7%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥94°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,089
• − Mortgage interest: −$4,817
• − Property taxes: −$252
• − Insurance: −$430
• − Repairs & maintenance: −$1,047
• − Management: −$1,047
• − Depreciation: −$2,502
• Taxable income: $2,994
• Est. tax owed @ 24.0%: −$719
• After-tax cash flow: $3,528/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: Whittemore-Prescott Area Schools
• NCES district ID: 2636390
• Math proficiency: 11% ▼ -12.00%
• Reading proficiency: 25% ▼ -11.00%
• Median HH income: $30,244
• Composite: 14.31/100
• National rank: #9442
• State rank: #488 of 540 in MI

Livability — Sand Lake

• Score: 63/100
• State rank: #528
• US rank: #15900

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 1,457
• Population (ZIP): 1,457

Population outlook (Iosco County) Hauer SSP2

• Today (2025): 24,366 people
• By 2030: 23,622 · -3.1%
• By 2040: 22,021 · -9.6%
• By 2050: 20,877 · -14.3%
• By 2075: 18,792 · -22.9%
• By 2100: 15,465 · -36.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Asian 2% Two or more races 2%
• Common ancestry: Lithuanian 7% Romanian 6% Slovak 4%
• Foreign-born: 4% · South Korea, Canada

Political lean MEDSL · Iosco

• 2024 margin: Solid R (+30.6) · D 34.0% · R 64.5% · Other 1.5%
• 2008→2024 swing: -35.7pp toward R · 2008: 5.1pp · 2024: -30.6pp
• All cycles: 2024: R+30.6 2020: R+28.6 2016: R+30.0 2012: R+5.0 2008: D+5.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -20.47%
• Current HPI: 278.4847
• 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

4 events — show timeline

• 2026-04-25 Listing Removed — REALCOMP
• 2026-04-25 Listing Removed — MiRealSource-MiMLS
• 2026-04-22 Listed $86,000 REALCOMP
• 2026-04-22 Listed $86,000 MiRealSource-MiMLS

Property tax history

-1.8%/yr

Latest (2025): $252 · +4.0% YoY. Source: county tax records.