317 Sheridan Dr · Sault Ste. Marie, MI 49783

$75,000

4 bd · 1.0 ba · 936 sqft · SingleFamily public records · 7 Days on market

Built 1900 3,049 sqft lot ↓ 17% since listing

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Why this score? — see what drove the B- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Watch the quiet waters of the power canal as it heads to cross under the Ashmun Street bridge from your seat on the front porch. Feel the urge for a quick meal? Many fast food and good restaurants offer excellent food just a few blocks away. Did we mention the university, library, and parks? This 1 and 3/4 story, 1.5 bath, basement and newer roof offers a nice size home for homestead or investment.

Key facts

• University
• Newer roof
• Front porch

Tags

• FRONT PORCH
• NEWER ROOF
• PARKS
• LIBRARY
• UNIVERSITY

Property features AI

Finance

• Other: Lot approximately 0.07 acres; Property located west off Ashmun on Sherman Drive on the south side

Exterior

• Utilities: Public water; Public sewer
• Home design: Single family residence; Two stories
• Construction: Built as a residential single family home
• Exterior features: Asphalt roof; Residential zoning

Interior

• Kitchen: Electric range
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Natural gas
• Interior features: Double pane windows; Full unfinished basement
• Laundry & utility: Main level laundry

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $568 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Cap rate 15.4% vs local median 4.5% in Sault Ste. Marie — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Sault Ste. Marie Area Schools (town): math 35% / reading 44% proficiency, ranked #230 of 540 in MI (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 125 active listings in the ZIP; 92 units permitted in Chippewa County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Chippewa County population projected at -10% 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 $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,000

Questions for the listing agent

1. Built in 1900 — 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: 1.85% ✓
• Cap rate: 15.38%
• Cash-on-cash: 32.46%
• DSCR: 2.44
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $150,696
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
810 Court St	0.28mi	3/1.5 (-1)	985 (+5%)	2mo	$75,000	$76	70
811 Augusta St	0.39mi	3/1.0 (-1)	995 (+6%)	12mo	$149,900	$151	56
919 Johnston St	0.64mi	4/1.5	1,018 (+9%)	15mo	$145,000	$142	41
1117 John St	0.50mi	3/2.0 (-1)	1,044 (+12%)	12mo	$157,000	$150	38
1411 John St	0.68mi	3/1.0 (-1)	864 (-8%)	16mo	$143,000	$166	37
1311 Minneapolis St	0.71mi	3/2.0 (-1)	982 (+5%)	15mo	$165,000	$168	37
1301 Kimball St	0.74mi	3/1.0 (-1)	840 (-10%)	8mo	$135,000	$161	37
1510 Davitt St	0.60mi	3/1.0 (-1)	1,042 (+11%)	20mo	$189,900	$182	32

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: 27.5%
• Equity multiple: 2.15×
• Total profit: $24,048
• Equity at exit: $11,183

10-year hold

• IRR: 35.1%
• Equity multiple: 4.22×
• Total profit: $67,628
• Equity at exit: $6,485

Cash invested: $21,000 (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 49783

• Active inventory: 125
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,385 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$102 /mo · $1,223/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $568

Break-even live

Break-even rent $666

Max offer price $75,000

Occupancy floor 54%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   days on market $75,000 Active 7 DOM
2. 2026-06-17
   days on market $75,000 Active 6 DOM
3. 2026-06-16
   days on market $75,000 Active 5 DOM
4. 2026-06-15
   days on market $75,000 Active 4 DOM
5. 2026-06-13
   days on market $75,000 Active 2 DOM
6. 2026-06-12
   remarks 402-char remark
7. 2026-06-12
   listed $75,000 Active 1 DOM

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

Tax reassessment forecast MI · Partial reset (capped growth)

• Current annual tax: $1,223 · $102/mo
• Projected year-2 tax: $1,223 · $102/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥88°F today · 13 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: $16,625
• − Mortgage interest: −$4,201
• − Property taxes: −$1,223
• − Insurance: −$375
• − Repairs & maintenance: −$1,330
• − Management: −$1,330
• − Depreciation: −$2,182
• Taxable income: $5,984
• Est. tax owed @ 24.0%: −$1,436
• After-tax cash flow: $5,380/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: Sault Ste. Marie Area Schools
• NCES district ID: 2630990
• Math proficiency: 35% ▼ -9.00%
• Reading proficiency: 44% ▼ -12.00%
• Median HH income: $40,273
• Composite: 33.12/100
• National rank: #5559
• State rank: #230 of 540 in MI

Livability — Sault Ste. Marie

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Sault Ste. Marie, MI
• Population (ZIP): 18,778

Population outlook (Chippewa County) Hauer SSP2

• Today (2025): 37,043 people
• By 2030: 36,431 · -1.7%
• By 2040: 34,911 · -5.8%
• By 2050: 33,350 · -10.0%
• By 2075: 29,789 · -19.6%
• By 2100: 24,171 · -34.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Native American 14% Two or more races 13% Hispanic / Latino 2%
• Common ancestry: Lithuanian 6% Romanian 6% Slovak 4%
• Foreign-born: 4% · Canada, Vietnam, Guatemala
• Languages at home: 95% English-only · Spanish 1% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Chippewa

• 2024 margin: Strong R (+24.2) · D 37.0% · R 61.3% · Other 1.7%
• 2008→2024 swing: -23.8pp toward R · 2008: -0.5pp · 2024: -24.2pp
• All cycles: 2024: R+24.2 2020: R+22.9 2016: R+24.2 2012: R+7.6 2008: R+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -183.63%
• Current HPI: 149.9878
• 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

-16.7% since first listed

2 events — show timeline

• 2026-06-12 Listed $75,000 EUPBR
• 2021-07-28 Sold (Public Records) $90,000 Public Records

Property tax history

+2.6%/yr

Latest (2024): $1,223 · +192.7% YoY. Source: county tax records.