217 S 6th Ave · Alpena, MI 49707

$89,000

3 bd · 1.0 ba · 1,212 sqft · SingleFamily public records · 54 Days on market

4,791 sqft lot $73/sqft · 25% above area Est $126k · 30% 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 +20.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.5/10.0
• 1% rule +5.3/10.0
• Livability +3.4/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home has been thoughtfully started on its path to a full transformation - offering a rare opportunity for you to finish it exactly the way you envision. Currently designed as a 3 bedroom/2 full baths, the layout also allows for a charming breakfast nook, open concept kitchen and convenient main floor laundry. A substantial head start has already been made, including up-to-date city inspections (just waiting for final inspection), updated plumbing and electrical and roof repair. Even better, a plethora of building materials and appliances have already been purchased and will convey with the sale, saving you both time and upfront costs. Whether you're an investor or a buyer looking to create a custom home, this property is packed with potential and ready for your finishing touches.

Key facts

• Breakfast nook
• Updated electrical
• Open concept kitchen

Tags

• BREAKFAST NOOK
• OPEN CONCEPT KITCHEN
• MAIN FLOOR LAUNDRY
• UPDATED PLUMBING
• UPDATED ELECTRICAL
• ROOF REPAIR

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $116 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($921 rent vs $89k).
• Recommended offer: $86k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 2.9% in Alpena — 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 68/100 on livability (#359 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, schools D, amenities D-.
• Alpena Public Schools (town): math 26% / reading 38% proficiency, ranked #345 of 540 in MI (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 112 active listings in the ZIP; 46 units permitted in Alpena County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $615 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Alpena County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $86,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 1.03% ✓
• Cap rate: 7.86%
• Cash-on-cash: 5.58%
• DSCR: 1.25
• GRM: 8.1

CMA / ARV

• ARV (median comp): $126,473
• List price: $89,000
• Delta: -29.63%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
711 River St	0.28mi	3/1.5	1,212 (0%)	0mo	$169,900	$140	85
333 Mckinley Ave	0.26mi	3/1.0	1,264 (+4%)	1mo	$182,500	$144	80
328 Mckinley Ave	0.28mi	3/1.5	1,189 (-2%)	8mo	$210,000	$177	75
433 West Lincoln St	0.46mi	3/1.0	1,264 (+4%)	0mo	$165,000	$131	71
313 S 7th Ave	0.11mi	2/1.0 (-1)	1,354 (+12%)	2mo	$70,000	$52	69
320 Tuttle St	0.44mi	3/1.0	1,220 (+1%)	14mo	$121,000	$99	67
925 S 8th Street Ave	0.54mi	3/1.0	1,147 (-5%)	2mo	$190,000	$166	64
507 Cedar St	0.45mi	3/1.5	1,128 (-7%)	9mo	$140,000	$124	58
507 W Miller St	0.51mi	3/2.0	1,140 (-6%)	8mo	$200,000	$175	56
124 W Miller St	0.56mi	3/1.0	1,344 (+11%)	3mo	$95,000	$71	53
312 N 11th Ave	0.50mi	2/1.0 (-1)	1,284 (+6%)	12mo	$92,000	$72	52
916 S First Ave	0.72mi	3/1.0	1,104 (-9%)	5mo	$159,900	$145	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: -7.6%
• Equity multiple: 0.72×
• Total profit: $-7,027
• Equity at exit: $13,270

10-year hold

• IRR: 1.9%
• Equity multiple: 1.14×
• Total profit: $3,436
• Equity at exit: $7,695

Cash invested: $24,920 (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 49707

• Home prices YoY: -22.5%
• Active inventory: 112
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $921 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$107 /mo · $1,290/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$193
• Net cashflow: $116

Break-even live

Break-even rent $774

Max offer price $89,000

Occupancy floor 82%

Sensitivity live

Price	-10% $166	-5% $141	+0% $116	+5% $91	+10% $66
Rent	-10% $43	-5% $80	+0% $116	+5% $152	+10% $189
Rate	-1.0pp $161	-0.5pp $139	base $116	+0.5pp $93	+1.0pp $69

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-21
   days on market $89,000 Active 54 DOM
2. 2026-06-18
   days on market $89,000 Active 52 DOM
3. 2026-06-17
   days on market $89,000 Active 51 DOM
4. 2026-06-16
   days on market $89,000 Active 50 DOM
5. 2026-06-15
   days on market $89,000 Active 49 DOM
6. 2026-06-13
   days on market $89,000 Active 47 DOM
7. 2026-06-12
   days on market $89,000 Active 46 DOM
8. 2026-06-09
   days on market $89,000 Active 43 DOM
9. 2026-06-08
   days on market $89,000 Active 42 DOM
10. 2026-06-07
    days on market $89,000 Active 41 DOM
11. 2026-06-07
    days on market $89,000 Active 40 DOM
12. 2026-06-04
    days on market $89,000 Active 37 DOM
13. 2026-06-02
    days on market $89,000 Active 36 DOM
14. 2026-06-01
    days on market $89,000 Active 35 DOM
15. 2026-05-31
    days on market $89,000 Active 34 DOM
16. 2026-05-31
    days on market $89,000 Active 33 DOM
17. 2026-05-16
    price $89,000 795-char remark

    Show marketing remark (795 chars)

    This home has been thoughtfully started on its path to a full transformation - offering a rare opportunity for you to finish it exactly the way you envision. Currently designed as a 3 bedroom/2 full baths, the layout also allows for a charming breakfast nook, open concept kitchen and convenient main floor laundry. A substantial head start has already been made, including up-to-date city inspections (just waiting for final inspection), updated plumbing and electrical and roof repair. Even better, a plethora of building materials and appliances have already been purchased and will convey with the sale, saving you both time and upfront costs. Whether you're an investor or a buyer looking to create a custom home, this property is packed with potential and ready for your finishing touches.

18. 2026-04-27
    listed $94,000 Active 795-char remark

    Show marketing remark (795 chars)

    This home has been thoughtfully started on its path to a full transformation - offering a rare opportunity for you to finish it exactly the way you envision. Currently designed as a 3 bedroom/2 full baths, the layout also allows for a charming breakfast nook, open concept kitchen and convenient main floor laundry. A substantial head start has already been made, including up-to-date city inspections (just waiting for final inspection), updated plumbing and electrical and roof repair. Even better, a plethora of building materials and appliances have already been purchased and will convey with the sale, saving you both time and upfront costs. Whether you're an investor or a buyer looking to create a custom home, this property is packed with potential and ready for your finishing touches.

19. 2026-02-17
    soldstatus $77,500 Closed 666-char remark

    Show marketing remark (666 chars)

    Charming exterior with large covered porch and enclosed three season sunroom, This home has been stripped to the bones and has new electrical wires, outlets and breaker panel, and all new PVC plumbing. . Inside is configured for brand new kitchen which is all there except the refrigerator. New cupboards, and beautiful gas range, unique bath setup, and laundry on the main floor, the home contains almost all you need to put the house together. Includes insulation, drywall, lighting and bath fixtures, and the updated floor plan is ergonomic as well as functional. This project will reward you with a beautiful new home and you can pick out your finishing details!

20. 2026-02-04
    status Pending 666-char remark

    Show marketing remark (666 chars)

    Charming exterior with large covered porch and enclosed three season sunroom, This home has been stripped to the bones and has new electrical wires, outlets and breaker panel, and all new PVC plumbing. . Inside is configured for brand new kitchen which is all there except the refrigerator. New cupboards, and beautiful gas range, unique bath setup, and laundry on the main floor, the home contains almost all you need to put the house together. Includes insulation, drywall, lighting and bath fixtures, and the updated floor plan is ergonomic as well as functional. This project will reward you with a beautiful new home and you can pick out your finishing details!

21. 2025-10-02
    listed $89,900 Active 666-char remark

    Show marketing remark (666 chars)

    Charming exterior with large covered porch and enclosed three season sunroom, This home has been stripped to the bones and has new electrical wires, outlets and breaker panel, and all new PVC plumbing. . Inside is configured for brand new kitchen which is all there except the refrigerator. New cupboards, and beautiful gas range, unique bath setup, and laundry on the main floor, the home contains almost all you need to put the house together. Includes insulation, drywall, lighting and bath fixtures, and the updated floor plan is ergonomic as well as functional. This project will reward you with a beautiful new home and you can pick out your finishing details!

22. 2016-06-23
    soldstatus $20,000
23. 2015-03-03
    soldstatus $35,000
24. 2013-11-15
    soldstatus $46,205
25. 2006-12-27
    soldstatus $46,103

ⓘ 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: $1,290 · $107/mo
• Projected year-2 tax: $1,330 · $111/mo
• Expected delta: +$40/yr (+$3/mo · 3.1%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 93% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥92°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,046
• − Mortgage interest: −$4,985
• − Property taxes: −$1,290
• − Insurance: −$445
• − Repairs & maintenance: −$884
• − Management: −$884
• − Depreciation: −$2,589
• Taxable loss: −$30
• Est. tax savings @ 24.0%: +$7
• After-tax cash flow: $1,398/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: Alpena Public Schools
• NCES district ID: 2602730
• Math proficiency: 26% ▼ -7.00%
• Reading proficiency: 38% ▼ -7.00%
• Median HH income: $39,327
• Composite: 26.8/100
• National rank: #7119
• State rank: #345 of 540 in MI

Livability — Alpena

• Score: 68/100
• State rank: #359
• US rank: #9205

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alpena, MI
• Population (ZIP): 22,050

Population outlook (Alpena County) Hauer SSP2

• Today (2025): 27,245 people
• By 2030: 26,142 · -4.0%
• By 2040: 23,449 · -13.9%
• By 2050: 20,729 · -23.9%
• By 2075: 15,422 · -43.4%
• By 2100: 10,723 · -60.6%

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: Romanian 21% Lithuanian 7% Slovak 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Alpena

• 2024 margin: Strong R (+28.6) · D 35.1% · R 63.7% · Other 1.2%
• 2008→2024 swing: -32.5pp toward R · 2008: 3.9pp · 2024: -28.6pp
• All cycles: 2024: R+28.6 2020: R+27.6 2016: R+28.7 2012: R+5.3 2008: D+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -67.41%
• Current HPI: 232.1238
• 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

+93.0% since first listed

9 events — show timeline

• 2026-05-16 Price Changed $89,000 WWMLS
• 2026-04-27 Listed $94,000 WWMLS
• 2026-02-17 Sold (MLS) $77,500 WWMLS
• 2026-02-04 Pending — WWMLS
• 2025-10-02 Listed $89,900 WWMLS
• 2016-06-23 Sold (Public Records) $20,000 Public Records
• 2015-03-03 Sold (Public Records) $35,000 Public Records
• 2013-11-15 Sold (Public Records) $46,205 Public Records
• 2006-12-27 Sold (Public Records) $46,103 Public Records

Property tax history

+3.1%/yr

Latest (2025): $1,290 · -7.3% YoY. Source: county tax records.