121 S Haskins St · Boon, MI 49618

$125,000

3 bd · 1.0 ba · 1,170 sqft · SingleFamily · 25 Days on market

Built 2017 8,712 sqft lot $107/sqft · 19% below area Est $154k · 19% 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 +18.8/30.0
• ARV discount +15.0/15.0
• Appreciation +6.5/10.0
• DSCR +5.9/10.0
• 1% rule +3.9/10.0
• Livability +3.3/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Practically brand-new single-wide home loaded with upgrades! This 3-bedroom, 2-bath home features a spacious primary suite complete with a private bath and walk-in closet. The kitchen offers abundant cabinetry and counter space, highlighted by a granite island with included bar stools, a propane stove, upgraded vent hood, and pantry storage. Additional features include custom window treatments, a separate laundry room with extra storage, central air, and upgraded insulated underpinning for added efficiency. Step outside to a large backyard shed - perfect for storing tools, equipment, and recreational gear.

Key facts

• 8,712 sq ft lot
• Built 2017
• Listed 25 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $127 ($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 $111k (11.5% below list).
• Recommended offer: $111k (11.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#430 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: schools D, crime D, amenities F.
• Mesick Consolidated Schools (rural): math 25% / reading 47% proficiency, ranked #286 of 540 in MI (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 17 active listings in the ZIP; 130 units permitted in Wexford County in 2024 (50 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($864 loan paydown + $4k appreciation (3.1% local appreciation)).
• Wexford County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.1% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, 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 25 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y ago 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.
• Current owner paid $54k; list at $125k implies a 131% gain — meaningful room to come down on a strong offer.

Recommended offer $110,667 (11.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. Crime grade is D 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?
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: 0.89% ✗
• Cap rate: 7.51%
• Cash-on-cash: 4.35%
• DSCR: 1.19
• GRM: 9.4

CMA / ARV

• ARV (median comp): $154,351
• List price: $125,000
• Delta: -19.02%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Projected returns pro-forma

3.07% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.7%
• Equity multiple: 1.67×
• Total profit: $23,568
• Equity at exit: $56,726

10-year hold

• IRR: 13.8%
• Equity multiple: 3.05×
• Total profit: $71,921
• Equity at exit: $87,828

Cash invested: $35,000 (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 49618

• Home prices YoY: 2.8%
• Active inventory: 17
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,107 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$40 /mo · $479/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $127

Break-even live

Break-even rent $946

Max offer price $125,000

Occupancy floor 84%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-05-02
   status Pending 613-char remark

   Show marketing remark (617 chars)

   Practically brand-new single-wide home loaded with upgrades! This 3-bedroom, 2-bath home features a spacious primary suite complete with a private bath and walk-in closet. The kitchen offers abundant cabinetry and counter space, highlighted by a granite island with included bar stools, a propane stove, upgraded vent hood, and pantry storage. Additional features include custom window treatments, a separate laundry room with extra storage, central air, and upgraded insulated underpinning for added efficiency. Step outside to a large backyard shed—perfect for storing tools, equipment, and recreational gear.

2. 2026-05-02
   status Pending 617-char remark

   Show marketing remark (617 chars)

   Practically brand-new single-wide home loaded with upgrades! This 3-bedroom, 2-bath home features a spacious primary suite complete with a private bath and walk-in closet. The kitchen offers abundant cabinetry and counter space, highlighted by a granite island with included bar stools, a propane stove, upgraded vent hood, and pantry storage. Additional features include custom window treatments, a separate laundry room with extra storage, central air, and upgraded insulated underpinning for added efficiency. Step outside to a large backyard shed—perfect for storing tools, equipment, and recreational gear.

3. 2026-04-07
   listed $125,000 Active 617-char remark

   Show marketing remark (613 chars)

   Practically brand-new single-wide home loaded with upgrades! This 3-bedroom, 2-bath home features a spacious primary suite complete with a private bath and walk-in closet. The kitchen offers abundant cabinetry and counter space, highlighted by a granite island with included bar stools, a propane stove, upgraded vent hood, and pantry storage. Additional features include custom window treatments, a separate laundry room with extra storage, central air, and upgraded insulated underpinning for added efficiency. Step outside to a large backyard shed - perfect for storing tools, equipment, and recreational gear.

4. 2026-04-07
   listed $125,000 Active 613-char remark

   Show marketing remark (613 chars)

   Practically brand-new single-wide home loaded with upgrades! This 3-bedroom, 2-bath home features a spacious primary suite complete with a private bath and walk-in closet. The kitchen offers abundant cabinetry and counter space, highlighted by a granite island with included bar stools, a propane stove, upgraded vent hood, and pantry storage. Additional features include custom window treatments, a separate laundry room with extra storage, central air, and upgraded insulated underpinning for added efficiency. Step outside to a large backyard shed - perfect for storing tools, equipment, and recreational gear.

5. 2020-02-04
   soldstatus $54,000
6. 2020-02-04
   soldstatus $54,000
7. 2020-02-04
   soldstatus $54,000
8. 2019-10-08
   listed $60,000
9. 2019-10-08
   listed $60,000
10. 2018-01-29
    historical
11. 2017-04-18
    listed $125,000

ⓘ 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: $479 · $40/mo
• Projected year-2 tax: $1,202 · $100/mo
• Expected delta: +$723/yr (+$60/mo · 151.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥91°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: $13,280
• − Mortgage interest: −$7,002
• − Property taxes: −$479
• − Insurance: −$625
• − Repairs & maintenance: −$1,062
• − Management: −$1,062
• − Depreciation: −$3,636
• Taxable loss: −$587
• Est. tax savings @ 24.0%: +$141
• After-tax cash flow: $1,662/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: Mesick Consolidated Schools
• NCES district ID: 2623670
• Math proficiency: 25% ▼ -3.00%
• Reading proficiency: 47% ▲ 1.00%
• Median HH income: $38,415
• Composite: 29.98/100
• National rank: #6367
• State rank: #286 of 540 in MI

Livability — Boon

• Score: 66/100
• State rank: #430
• US rank: #11966

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Boon, MI
• Population (ZIP): 829

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 (88%)
• Race & ethnicity: White 88% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Slovak 4% Lithuanian 3% Iranian 2%
• Foreign-born: 1% · Canada, Vietnam
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 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: ▲ 3.07%
• Current HPI: 111.7001
• 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

11 events — show timeline

• 2026-05-02 Pending — MiRealSource-MiMLS
• 2026-05-02 Pending — REALCOMP
• 2026-04-07 Listed $125,000 REALCOMP
• 2026-04-07 Listed $125,000 MiRealSource-MiMLS
• 2020-02-04 Sold (Public Records) $54,000 Public Records
• 2020-02-04 Sold (MLS) $54,000 REALCOMP
• 2020-02-04 Sold (MLS) $54,000 MiRealSource-MiMLS
• 2019-10-08 Listed $60,000 REALCOMP
• 2019-10-08 Listed $60,000 MiRealSource-MiMLS
• 2018-01-29 Listing Removed — REALCOMP
• 2017-04-18 Listed $125,000 REALCOMP

Property tax history

-10.4%/yr

Latest (2025): $479 · -49.9% YoY. Source: county tax records.