1005 Velda Trl · Comins, MI 48621

$129,900

2 bd · 1.0 ba · 672 sqft · SingleFamily · 80 Days on market

Built 1987 Good condition 5.00 ac lot $193/sqft · 9% below area Est $142k · 9% under ↓ 4% since listing

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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 +11.4/30.0
• ARV discount +11.4/15.0
• Appreciation +9.6/10.0
• Schools +4.1/10.0
• Condition / age +3.8/5.0
• 1% rule +3.3/10.0
• DSCR +3.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0

Listing remarks MLS

SECLUDED 5 ACRES-2-bedroom, 1-bath home nestled on a private 5-acre parcel that borders state land--perfect for those seeking peace and outdoor access. Recently remodeled with beautiful knotty pine interior, updated electrical service, and all-new electric heating. This move-in-ready property is truly turnkey. Located just minutes from Perry Lake public access, offering great opportunities for kayaking and fishing. Property includes deeded easement access. All information to be verified by buyers agent or buyer. C-670 $ 135,000

Key facts

• Remodeled
• Knotty pine interior
• Private parcel

Tags

• 5 ACRES
• PRIVATE PARCEL
• BORDERS STATE LAND
• REMODELED
• KNOTTY PINE INTERIOR
• UPDATED ELECTRICAL SERVICE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-46 ($-553/yr) — negative.
• To cash-flow at today's rent, offer at most $123k (5.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $108k (17.0% below list).
• Recommended offer: $108k (17.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Fairview Area School District (rural): math 45% / reading 50% proficiency, ranked #244 of 760 in MI (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 29 active listings in the ZIP; 29 units permitted in Oscoda County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($898 loan paydown + $12k appreciation (9.3% local appreciation)).
• Oscoda County population projected at -32% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.3% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $107,799 (17.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.83% ✗
• Cap rate: 5.87%
• Cash-on-cash: -1.52%
• DSCR: 0.93
• GRM: 10.0

CMA / ARV

• ARV (median comp): $142,384
• List price: $129,900
• Delta: -8.77%
• Verdict: FAIR
• Comps: 2 within 1.0 mi

Projected returns pro-forma

9.27% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.6%
• Equity multiple: 2.69×
• Total profit: $61,385
• Equity at exit: $110,171

10-year hold

• IRR: 19.6%
• Equity multiple: 5.99×
• Total profit: $181,672
• Equity at exit: $230,655

Cash invested: $36,372 (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 48621

• Home prices YoY: 4.6%
• Active inventory: 29
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,078 medium
• Mortgage (P&I): −$681
• Tax est. 1.5%: −$162 /mo · $1,948/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $-46

Break-even live

Break-even rent $1,136

Max offer price $123,230

Occupancy floor 99%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $129,900 Active 80 DOM
2. 2026-06-17
   days on market $129,900 Active 79 DOM
3. 2026-06-16
   days on market $129,900 Active 78 DOM
4. 2026-06-15
   days on market $129,900 Active 77 DOM
5. 2026-06-13
   days on market $129,900 Active 75 DOM
6. 2026-06-12
   days on market $129,900 Active 74 DOM
7. 2026-06-09
   days on market $129,900 Active 71 DOM
8. 2026-06-08
   days on market $129,900 Active 70 DOM
9. 2026-06-07
   days on market $129,900 Active 69 DOM
10. 2026-06-07
    days on market $129,900 Active 68 DOM
11. 2026-06-04
    days on market $129,900 Active 65 DOM
12. 2026-06-02
    days on market $129,900 Active 64 DOM
13. 2026-06-01
    days on market $129,900 Active 63 DOM
14. 2026-05-31
    days on market $129,900 Active 62 DOM
15. 2026-05-31
    days on market $129,900 Active 61 DOM
16. 2026-05-19
    price $129,900 533-char remark

    Show marketing remark (533 chars)

    SECLUDED 5 ACRES-2-bedroom, 1-bath home nestled on a private 5-acre parcel that borders state land--perfect for those seeking peace and outdoor access. Recently remodeled with beautiful knotty pine interior, updated electrical service, and all-new electric heating. This move-in-ready property is truly turnkey. Located just minutes from Perry Lake public access, offering great opportunities for kayaking and fishing. Property includes deeded easement access. All information to be verified by buyers agent or buyer. C-670 $ 135,000

17. 2026-03-30
    listed $135,000 Active 533-char remark

    Show marketing remark (533 chars)

    SECLUDED 5 ACRES-2-bedroom, 1-bath home nestled on a private 5-acre parcel that borders state land--perfect for those seeking peace and outdoor access. Recently remodeled with beautiful knotty pine interior, updated electrical service, and all-new electric heating. This move-in-ready property is truly turnkey. Located just minutes from Perry Lake public access, offering great opportunities for kayaking and fishing. Property includes deeded easement access. All information to be verified by buyers agent or buyer. C-670 $ 135,000

ⓘ 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 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥94°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: $12,936
• − Mortgage interest: −$7,276
• − Property taxes: −$1,948
• − Insurance: −$650
• − Repairs & maintenance: −$1,035
• − Management: −$1,035
• − Depreciation: −$3,779
• Taxable loss: −$2,787
• Est. tax savings @ 24.0%: +$669
• After-tax cash flow: $116/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 · 2 photos

Good 75/100 Cosmetic rehab

This move-in-ready home is well-maintained with recent updates, offering a secluded and private 5-acre setting perfect for outdoor enthusiasts. Further landscaping and interior updates could further enhance its value.

Value-add opportunities

• Both Landscaping improvements — Enhancing the landscaping can improve curb appeal and attract more buyers or renters.
• Both Interior updates — The home is described as recently remodeled, but further updates to the interior could enhance its appeal and value.
• Both Exterior updates — A fresh coat of paint or minor exterior updates could improve the home's appearance and value.
• Both Landscaping and curb appeal — A well-maintained and aesthetically pleasing landscape can significantly boost both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping improvements — Enhancing the landscaping can improve curb appeal and attract more buyers or renters. ↑
• Both Interior updates — The home is described as recently remodeled, but further updates to the interior could enhance its appeal and value. ↑
• Both Exterior updates — A fresh coat of paint or minor exterior updates could improve the home's appearance and value. ↑
• Both Landscaping and curb appeal — A well-maintained and aesthetically pleasing landscape can significantly boost both resale and rental value. ↑

ⓘ 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: Fairview Area School District
• NCES district ID: 2610560
• Math proficiency: 45% ▲ 5.00%
• Reading proficiency: 50% ▲ 5.00%
• Median HH income: $35,353
• Composite: 41.42/100
• National rank: #7306
• State rank: #244 of 760 in MI

Livability — Comins

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

Census & demographics

• Population (ZIP): 1,087

Population outlook (Oscoda County) Hauer SSP2

• Today (2025): 7,410 people
• By 2030: 6,884 · -7.1%
• By 2040: 5,853 · -21.0%
• By 2050: 5,055 · -31.8%
• By 2075: 3,832 · -48.3%
• By 2100: 2,863 · -61.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Lithuanian 6% Romanian 5% Italian 4%
• Foreign-born: 1% · Vietnam
• Languages at home: 96% English-only · German/W. Germanic 2% Spanish 1%

Political lean MEDSL · Oscoda

• 2024 margin: Solid R (+44.3) · D 27.2% · R 71.6% · Other 1.2%
• 2008→2024 swing: -34.3pp toward R · 2008: -10.0pp · 2024: -44.3pp
• All cycles: 2024: R+44.3 2020: R+43.6 2016: R+44.3 2012: R+16.2 2008: R+10.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 9.27%
• Current HPI: 210.9497
• 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

-3.8% since first listed

2 events — show timeline

• 2026-05-19 Price Changed $129,900 WWMLS
• 2026-03-30 Listed $135,000 WWMLS