8206 Florida St · Oscoda, MI 48750

$99,500

3 bd · 1.5 ba · 1,196 sqft · Condo · 19 Days on market

Built 1960 Fair condition

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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 +26.9/30.0
• DSCR +9.3/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Schools +2.9/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

4 BEDROOMS, 1.5 BATHS, FULL BASEMENT, 1 CAR GARAGE DETACHED. BANK OWNED. NO SELLERS DISCLOSURES. SOLD IN AS IS CONDITION. THE PROPERTY IS ELIGIBLE FOR HOME PATH MORTGAGE AND HOME PATH RENOVATION FINANCING.

Key facts

• Wooded deck
• Wood floors
• Sliding glass doors

Tags

• WOOD FLOORS
• SLIDING GLASS DOORS
• WOODED DECK
• FULL BASEMENT

Property features AI

Finance

• Other: Pets allowed; Located in subdivision: VILLAGE OF OSCODA
• Financial info: Annual property tax reported
• HOA & community: Association maintenance of grounds; Association fee includes grounds maintenance, snow removal, and trash

Exterior

• Parking: Detached garage (1 car)
• Utilities: Public water; Shared septic
• Home design: Single family residence; Two levels; Residential zoning
• Construction: Aluminum siding and brick exterior
• Exterior features: Deck; Porch; Shed(s)

Interior

• Kitchen: Oven; Range; Refrigerator
• Bedrooms: Total rooms: 7
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); No central air
• Interior features: Entrance foyer; Pantry; Full unfinished basement
• Laundry & utility: Washer

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $100k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $274 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 2.8% in Oscoda — 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 57/100 on livability (#641 in MI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: schools D+, crime F, amenities F.
• Oscoda Area Schools (rural): math 31% / reading 38% proficiency, ranked #313 of 540 in MI (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 134 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 $688 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 $28k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y 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 $18k; list at $100k implies a 453% gain — meaningful room to come down on a strong offer.

Recommended offer $98,007 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.22% ✓
• Cap rate: 9.60%
• Cash-on-cash: 11.81%
• DSCR: 1.53
• GRM: 6.8

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: 1.3%
• Equity multiple: 1.05×
• Total profit: $1,355
• Equity at exit: $14,836

10-year hold

• IRR: 10.9%
• Equity multiple: 1.85×
• Total profit: $23,737
• Equity at exit: $8,603

Cash invested: $27,860 (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 48750

• Active inventory: 134
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,217 medium
• Mortgage (P&I): −$522
• Tax est. 1.5%: −$124 /mo · $1,492/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $274

Break-even live

Break-even rent $870

Max offer price $99,500

Occupancy floor 72%

Sensitivity live

Price	-10% $343	-5% $309	+0% $274	+5% $240	+10% $205
Rent	-10% $178	-5% $226	+0% $274	+5% $322	+10% $370
Rate	-1.0pp $324	-0.5pp $299	base $274	+0.5pp $248	+1.0pp $222

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: $24,875
• Closing costs: $2,985
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-21
   days on market $99,500 Active 19 DOM
2. 2026-06-18
   days on market $99,500 Active 17 DOM
3. 2026-06-17
   days on market $99,500 Active 16 DOM
4. 2026-06-16
   days on market $99,500 Active 15 DOM
5. 2026-06-15
   days on market $99,500 Active 14 DOM
6. 2026-06-13
   days on market $99,500 Active 12 DOM
7. 2026-06-12
   days on market $99,500 Active 11 DOM
8. 2026-06-09
   days on market $99,500 Active 8 DOM
9. 2026-06-08
   days on market $99,500 Active 7 DOM
10. 2026-06-07
    days on market $99,500 Active 6 DOM
11. 2026-06-07
    days on market $99,500 Active 5 DOM
12. 2026-06-04
    days on market $99,500 Active 2 DOM
13. 2026-06-01
    remarks 340-char remark
14. 2026-06-01
    listed $99,500 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 4/10 Moderate
• 🌡 Heat 1/10 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: $14,609
• − Mortgage interest: −$5,574
• − Property taxes: −$1,492
• − Insurance: −$498
• − Repairs & maintenance: −$1,169
• − Management: −$1,169
• − Depreciation: −$2,895
• Taxable income: $1,814
• Est. tax owed @ 24.0%: −$435
• After-tax cash flow: $2,854/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This 3-bedroom, 1.5-bath home requires moderate repairs and updates to improve its condition and value. Paint touch-ups, new kitchen cabinets, and upgraded bathroom fixtures are recommended.

Repairs flagged

• Minor Paint — Paint appears slightly faded
• Minor Kitchen cabinets — Standard kitchen with dated cabinetry
• Minor Bathroom fixtures — Basic fixtures in small bathrooms

Value-add opportunities

• Resale Paint touch-ups — Fresh paint enhances curb appeal
• Resale Replace kitchen cabinets — Modern cabinets improve kitchen aesthetics
• Resale Upgrade bathroom fixtures — Updated fixtures enhance bathroom functionality and aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint · Paint appears slightly faded	Minor	$500–3,000
Kitchen cabinets · Standard kitchen with dated cabinetry	Minor	$500–3,000
Bathroom fixtures · Basic fixtures in small bathrooms	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Resale Paint touch-ups — Fresh paint enhances curb appeal ↑
• Resale Replace kitchen cabinets — Modern cabinets improve kitchen aesthetics ↑
• Resale Upgrade bathroom fixtures — Updated fixtures enhance bathroom functionality and aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Oscoda Area Schools
• NCES district ID: 2626970
• Math proficiency: 31% ▼ -7.00%
• Reading proficiency: 38% ▼ -9.00%
• Median HH income: $36,275
• Composite: 28.6/100
• National rank: #6714
• State rank: #313 of 540 in MI

Livability — Oscoda

• Score: 57/100
• State rank: #641
• US rank: #21680

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 9,281

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 (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 11% Lithuanian 4% Italian 2%
• Foreign-born: 2% · Canada, Jamaica
• Languages at home: 96% English-only · Spanish 2%

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: ▼ -97.75%
• Current HPI: 157.6759
• 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

+455.9% since first listed

5 events — show timeline

• 2026-06-01 Listed $99,500 REALCOMP
• 2009-06-25 Sold (MLS) $18,000 MiRealSource-MiMLS
• 2009-06-25 Sold (MLS) $18,000 MiRealSource-MiMLS
• 2009-02-03 Listed $17,900 MiRealSource-MiMLS
• 2009-02-03 Listed $17,900 MiRealSource-MiMLS