3608 13th St · Menominee, MI 49858

$120,000

3 bd · 2.0 ba · 2,730 sqft · SingleFamily public records · 6 Days on market

Built 1903 0.33 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 +26.3/30.0
• DSCR +8.9/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Livability +3.6/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* EXCELLENT LOCATION * FULLY FENCED IN YARD * NICE SWIMMING POOL & DECK * NEWER WINDOWS, 200 AMP SERVICE UPDATED. * NEWER ENERGY EFFICIENT FURNACE.

Key facts

• Exposed floor joist
• Beautiful stairway
• Exposed plywood

Tags

• FULLY FENCED LOT
• BEAUTIFUL STAIRWAY
• EXPOSED FLOOR JOIST
• EXPOSED PLYWOOD
• ENTRYWAY WITH STAIRWELL

Property features AI

Finance

• Other: Appliances are excluded from sale at this time (sellers' personal property)

Exterior

• Parking: Detached 1-car garage
• Utilities: Municipal water; Municipal sewer; Natural gas
• Home design: Two-story single-family home; Construction completed
• Construction: Assessor/public record listed year built; Partial finished above-grade area (~1,527 finished above-grade square feet)
• Exterior features: Cedar exterior; Property under 1/2 acre (approximately 0.33 acre)

Interior

• Bedrooms: Main-level primary bedroom (18 x 13); Upper-level bedroom (17 x 13); Upper-level bedroom (17 x 13); Upper-level bedroom (14 x 10)
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating; Natural gas heat
• Interior features: Partial block basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $309 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Cap rate 9.4% vs local median 4.0% in Menominee — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 71/100 on livability (#282 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, amenities F, commute F.
• Menominee Area Public Schools (town): math 26% / reading 42% proficiency, ranked #312 of 540 in MI (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 64 active listings in the ZIP; 26 units permitted in Menominee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Menominee County population projected at -19% 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 $34k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 26y 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 $63k; list at $120k implies a 91% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1903 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $120,000

Questions for the listing agent

1. Built in 1903 — 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. 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.
4. 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.
5. 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: 1.20% ✓
• Cap rate: 9.38%
• Cash-on-cash: 11.03%
• DSCR: 1.49
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $406,770
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4003 Michigan Shores Dr	0.51mi	3/2.5	2,386 (-13%)	7mo	$355,000	$149	47

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: 0.2%
• Equity multiple: 1.01×
• Total profit: $243
• Equity at exit: $17,892

10-year hold

• IRR: 9.9%
• Equity multiple: 1.76×
• Total profit: $25,622
• Equity at exit: $10,375

Cash invested: $33,600 (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 49858

• Home prices YoY: -31.4%
• Active inventory: 64
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,441 medium
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,800/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $309

Break-even live

Break-even rent $1,050

Max offer price $120,000

Occupancy floor 74%

Sensitivity live

Price	-10% $392	-5% $350	+0% $309	+5% $267	+10% $226
Rent	-10% $195	-5% $252	+0% $309	+5% $366	+10% $423
Rate	-1.0pp $369	-0.5pp $339	base $309	+0.5pp $278	+1.0pp $246

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-21
   days on market $120,000 Active 6 DOM
2. 2026-06-19
   days on market $120,000 Active 4 DOM
3. 2026-06-18
   days on market $120,000 Active 3 DOM
4. 2026-06-17
   days on market $120,000 Active 2 DOM
5. 2026-06-16
   remarks 420-char remark
6. 2026-06-16
   listed $120,000 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥93°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: $17,287
• − Mortgage interest: −$6,722
• − Property taxes: −$1,800
• − Insurance: −$600
• − Repairs & maintenance: −$1,383
• − Management: −$1,383
• − Depreciation: −$3,491
• Taxable income: $1,908
• Est. tax owed @ 24.0%: −$458
• After-tax cash flow: $3,247/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: Menominee Area Public Schools
• NCES district ID: 2623550
• Math proficiency: 26% ▼ -6.00%
• Reading proficiency: 42% ▼ -3.00%
• Median HH income: $41,809
• Composite: 28.68/100
• National rank: #6694
• State rank: #312 of 540 in MI

Livability — Menominee

• Score: 71/100
• State rank: #282
• US rank: #6909

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Menominee, MI
• Population (ZIP): 11,870

Population outlook (Menominee County) Hauer SSP2

• Today (2025): 22,668 people
• By 2030: 21,986 · -3.0%
• By 2040: 20,196 · -10.9%
• By 2050: 18,335 · -19.1%
• By 2075: 14,771 · -34.8%
• By 2100: 10,999 · -51.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Lithuanian 8% Romanian 7% Portuguese 4%
• Foreign-born: 2% · Canada
• Languages at home: 99% English-only · French/Haitian/Cajun 1%

Political lean MEDSL · Menominee

• 2024 margin: Solid R (+33.6) · D 32.6% · R 66.2% · Other 1.2%
• 2008→2024 swing: -43.8pp toward R · 2008: 10.2pp · 2024: -33.6pp
• All cycles: 2024: R+33.6 2020: R+30.1 2016: R+29.4 2012: R+2.9 2008: D+10.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -94.34%
• Current HPI: 206.2461
• 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

+700.0% since first listed

6 events — show timeline

• 2026-06-12 Listed $120,000 RANW
• 2015-11-12 Sold (Public Records) $62,700 Public Records
• 2001-09-28 Sold (Public Records) $53,450 Public Records
• 2001-09-28 Sold (MLS) $53,450 METROMLS
• 2000-05-19 Listed $53,900 METROMLS
• 1994-04-20 Sold (Public Records) $15,000 Public Records