1246 Sunnyside · Cadillac, MI 49601

$48,700

2 bd · 2.0 ba · 998 sqft · Condo · 18 Days on market

Built 2001 $49/sqft · 77% above area Est $36k · 36% over $314/mo HOA · 29% of rent

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.1/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Lakefront living at its best! This beautiful 2 bedroom, 2 bath condo located on Lake Cadillac is a must see! This is a fractional ownership opportunity ( 1/4 Interest) with 12 weeks of usage annually! You can come and enjoy your Up North Getaway without the hassle of all the upkeep of a second home! The unit is located on the second floor and boasts sweeping views of Lake Cadillac. The open concept floorplan offers spectacular views of the lake, there is a private balcony to catch all those beautiful Cadillac Sunsets! This is a fully furnished condo, includes all linens, nicely stocked kitchen that includes cookware if you choose to prepare meals while enjoying the lake views. The property

Key facts

• Lakefront living
• Private balcony
• Fire pit

Tags

• LAKEFRONT LIVING
• PRIVATE BALCONY
• SITTING DOCK
• BOAT SLIP
• FIRE PIT
• SHARED GRILLS

Property features AI

Finance

• Other: Located in the Sunset Shores Resort subdivision
• HOA & community: Homeowners association with monthly fee (approximately $314); Association amenities include fitness center, pool, and grounds maintenance; Association fee covers grounds and structure maintenance, sewer, snow removal, trash and water

Exterior

• Utilities: Public water; Shared septic
• Home design: Condominium (residential)
• Construction: Masonite exterior; Slab foundation; Built area approximately 998 square feet
• Exterior features: Community pool; Waterfront property on Lake Cadillac; 420 ft. frontage

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Oven; Range; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Window treatments; Fireplace; Balcony
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $49k.

Deal economics

• At list price, monthly cash flow is $218 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $49k).
• Recommended offer: $48k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.7% vs local median 3.3% in Cadillac — 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 70/100 on livability (#312 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Cadillac Area Public Schools (town): math 45% / reading 53% proficiency, ranked #120 of 540 in MI (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 225 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 130 units permitted in Wexford County in 2024 (50 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $337 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Wexford County population projected at -15% 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 $14k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 47 sale attempts since 16y ago; this cycle's ask is 163% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $18k; list at $49k implies a 178% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.

Recommended offer $47,969 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
8. 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.
9. 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.
10. 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: 2.26% ✓
• Cap rate: 11.66%
• Cash-on-cash: 19.18%
• DSCR: 1.85
• GRM: 3.7

CMA / ARV

• ARV (median comp): $35,915
• List price: $48,700
• Delta: 5.53%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 11.4%
• Equity multiple: 1.45×
• Total profit: $6,199
• Equity at exit: $7,261

10-year hold

• IRR: 20.7%
• Equity multiple: 2.77×
• Total profit: $24,123
• Equity at exit: $4,211

Cash invested: $13,636 (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 49601

• Home prices YoY: -19.9%
• Active inventory: 225
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,099 medium
• Mortgage (P&I): −$255
• Tax est. 1.5%: −$61 /mo · $730/yr
• Insurance: −$20
• HOA: −$314
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $218

Break-even live

Break-even rent $823

Max offer price $48,700

Occupancy floor 75%

Sensitivity live

Price	-10% $252	-5% $235	+0% $218	+5% $201	+10% $184
Rent	-10% $131	-5% $175	+0% $218	+5% $261	+10% $305
Rate	-1.0pp $242	-0.5pp $230	base $218	+0.5pp $205	+1.0pp $192

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: $12,175
• Closing costs: $1,461
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
300 Kristy Jo St Cadillac, MI	2.0	2.0	896	$1,099	$1.23	44d	1	1.16mi
213 Pearl St Unit 2W Cadillac, MI	2.0	1.0	575	$1,100	$1.91	44d	1	1.35mi

HOA detail condo

• Monthly dues: $314 · $3,768/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-21
   days on market $48,700 Active 18 DOM
2. 2026-06-18
   days on market $48,700 Active 16 DOM
3. 2026-06-17
   days on market $48,700 Active 15 DOM
4. 2026-06-16
   days on market $48,700 Active 14 DOM
5. 2026-06-15
   days on market $48,700 Active 13 DOM
6. 2026-06-13
   days on market $48,700 Active 11 DOM
7. 2026-06-12
   days on market $48,700 Active 10 DOM
8. 2026-06-09
   days on market $48,700 Active 7 DOM
9. 2026-06-08
   days on market $48,700 Active 6 DOM
10. 2026-06-07
    days on market $48,700 Active 5 DOM
11. 2026-06-07
    pricedays on marketlisting id $48,700 Active 4 DOM
12. 2026-06-04
    days on market $37,500 Active 15 DOM
13. 2026-06-02
    days on market $37,500 Active 14 DOM
14. 2026-06-01
    days on market $37,500 Active 13 DOM
15. 2026-05-31
    days on market $37,500 Active 12 DOM
16. 2026-05-31
    days on market $37,500 Active 11 DOM
17. 2017-09-29
    historical
18. 2017-09-29
    historical
19. 2017-09-29
    historical
20. 2017-08-25
    soldstatus $17,500
21. 2017-03-15
    soldstatus $19,895
22. 2017-01-01
    historical
23. 2016-10-25
    soldstatus $15,000
24. 2016-10-25
    soldstatus $15,000
25. 2016-06-24
    soldstatus $37,500
26. 2016-06-10
    soldstatus $15,000
27. 2016-06-10
    soldstatus $15,000
28. 2016-06-07
    soldstatus $18,500
29. 2016-05-20
    soldstatus $14,000
30. 2016-05-20
    soldstatus $19,900
31. 2016-05-20
    soldstatus $14,000
32. 2016-04-26
    soldstatus $100,000
33. 2016-02-27
    listed $18,500
34. 2016-02-27
    listed $18,500
35. 2016-01-26
    listed $15,000
36. 2016-01-21
    listed $18,500
37. 2015-12-31
    historical
38. 2015-12-31
    historical
39. 2015-12-30
    historical
40. 2015-12-30
    listed $15,000
41. 2015-12-30
    historical
42. 2015-12-30
    historical
43. 2015-12-30
    historical
44. 2015-12-30
    historical
45. 2015-12-30
    listed $15,000
46. 2015-12-30
    listed $140,000
47. 2015-12-30
    historical
48. 2015-12-30
    listed $140,000
49. 2015-10-30
    soldstatus $15,000
50. 2015-09-30
    soldstatus $15,000

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

Taxation est. · year 1

• Rental income: $13,192
• − Mortgage interest: −$2,728
• − Property taxes: −$730
• − Insurance: −$244
• − Repairs & maintenance: −$1,055
• − Management: −$1,055
• − HOA: −$3,768
• − Depreciation: −$1,417
• Taxable income: $2,195
• Est. tax owed @ 24.0%: −$527
• After-tax cash flow: $2,089/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: Cadillac Area Public Schools
• NCES district ID: 2607590
• Math proficiency: 45% ▼ -6.00%
• Reading proficiency: 53% ▼ -4.00%
• Median HH income: $41,543
• Composite: 41.12/100
• National rank: #3562
• State rank: #120 of 540 in MI

Livability — Cadillac

• Score: 70/100
• State rank: #312
• US rank: #7631

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cadillac, MI
• Population (ZIP): 22,121

Population outlook (Wexford County) Hauer SSP2

• Today (2025): 32,399 people
• By 2030: 31,692 · -2.2%
• By 2040: 29,789 · -8.1%
• By 2050: 27,473 · -15.2%
• By 2075: 21,822 · -32.6%
• By 2100: 15,237 · -53.0%

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: Iranian 7% Romanian 6% Lithuanian 4%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Wexford

• 2024 margin: Solid R (+34.6) · D 32.0% · R 66.6% · Other 1.5%
• 2008→2024 swing: -30.4pp toward R · 2008: -4.2pp · 2024: -34.6pp
• All cycles: 2024: R+34.6 2020: R+34.3 2016: R+36.4 2012: R+16.3 2008: R+4.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -85.43%
• Current HPI: 344.1577
• 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

+2.9% since first listed

96 events — show timeline

• 2017-09-29 Listing Removed — REALCOMP
• 2017-09-29 Listing Removed — REALCOMP
• 2017-09-29 Listing Removed — REALCOMP
• 2017-08-25 Sold (MLS) $17,500 REALCOMP
• 2017-03-15 Sold (MLS) $19,895 REALCOMP
• 2017-01-01 Listing Removed — MiRealSource-MiMLS
• 2016-10-25 Sold (MLS) $15,000 REALCOMP
• 2016-10-25 Sold (MLS) $15,000 REALCOMP
• 2016-06-24 Sold (MLS) $37,500 REALCOMP
• 2016-06-10 Sold (MLS) $15,000 REALCOMP
• 2016-06-10 Sold (MLS) $15,000 REALCOMP
• 2016-06-07 Sold (MLS) $18,500 REALCOMP
• 2016-05-20 Sold (MLS) $14,000 REALCOMP
• 2016-05-20 Sold (MLS) $19,900 REALCOMP
• 2016-05-20 Sold (MLS) $14,000 REALCOMP
• 2016-04-26 Sold (MLS) $100,000 REALCOMP
• 2016-02-27 Listed $18,500 REALCOMP
• 2016-02-27 Listed $18,500 REALCOMP
• 2016-01-26 Listed $15,000 REALCOMP
• 2016-01-21 Listed $18,500 REALCOMP
• 2015-12-31 Listing Removed — MiRealSource-MiMLS
• 2015-12-31 Listing Removed — MiRealSource-MiMLS
• 2015-12-30 Listing Removed — MiRealSource-MiMLS
• 2015-12-30 Listed $140,000 REALCOMP
• 2015-12-30 Listing Removed — REALCOMP
• 2015-12-30 Listing Removed — MiRealSource-MiMLS
• 2015-12-30 Listing Removed — REALCOMP
• 2015-12-30 Listing Removed — REALCOMP
• 2015-12-30 Listed $15,000 REALCOMP
• 2015-12-30 Listing Removed — REALCOMP
• 2015-12-30 Listed $140,000 MiRealSource-MiMLS
• 2015-12-30 Listed $15,000 MiRealSource-MiMLS
• 2015-10-30 Sold (MLS) $15,000 REALCOMP
• 2015-09-30 Sold (MLS) $15,000 REALCOMP
• 2015-09-04 Sold (MLS) $22,900 REALCOMP
• 2015-09-04 Sold (MLS) $22,900 REALCOMP
• 2015-09-04 Sold (MLS) $22,900 REALCOMP
• 2015-08-31 Sold (MLS) $15,000 REALCOMP
• 2015-08-01 Listed $15,000 REALCOMP
• 2015-07-27 Listing Removed — REALCOMP
• 2015-07-10 Listing Removed — MiRealSource-MiMLS
• 2015-07-10 Listing Removed — MiRealSource-MiMLS
• 2015-07-10 Listing Removed — REALCOMP
• 2015-05-19 Sold (MLS) $19,900 REALCOMP
• 2015-05-18 Sold (MLS) $22,900 REALCOMP
• 2015-05-17 Listed $19,900 REALCOMP
• 2015-04-27 Listed $22,900 REALCOMP
• 2015-04-27 Listed $22,900 REALCOMP
• 2015-04-27 Listed $120,000 REALCOMP
• 2015-04-27 Listed $19,900 REALCOMP
• 2015-04-27 Listed $19,900 REALCOMP
• 2015-04-27 Listed $15,500 REALCOMP
• 2015-04-27 Listed $15,500 REALCOMP
• 2015-04-27 Listed $39,800 REALCOMP
• 2015-04-27 Listed $25,500 REALCOMP
• 2015-04-22 Listing Removed — REALCOMP
• 2015-04-22 Listing Removed — REALCOMP
• 2015-03-27 Sold (MLS) $19,950 REALCOMP
• 2014-12-17 Listed $140,000 REALCOMP
• 2014-12-17 Listed $15,000 REALCOMP
• 2014-12-17 Listed $15,000 REALCOMP
• 2014-12-17 Listed $18,500 REALCOMP
• 2014-12-17 Listed $17,000 REALCOMP
• 2014-12-16 Listed $41,000 REALCOMP
• 2013-12-17 Listed $17,000 MiRealSource-MiMLS
• 2013-12-17 Listed $17,000 MiRealSource-MiMLS
• 2013-12-17 Listed $17,000 REALCOMP
• 2013-12-17 Listed $15,000 MiRealSource-MiMLS
• 2013-12-17 Listed $140,000 MiRealSource-MiMLS
• 2013-12-17 Listed $140,000 REALCOMP
• 2013-12-17 Listed $15,000 REALCOMP
• 2013-12-17 Listed $140,000 MiRealSource-MiMLS
• 2013-12-17 Listed $140,000 REALCOMP
• 2013-10-23 Listed $15,000 REALCOMP
• 2013-10-22 Listed $22,900 REALCOMP
• 2013-10-22 Listed $22,900 REALCOMP
• 2013-10-22 Listed $22,900 REALCOMP
• 2013-10-22 Listed $15,000 REALCOMP
• 2013-10-22 Listed $15,000 REALCOMP
• 2011-06-07 Listing Removed — MiRealSource-MiMLS
• 2011-06-07 Listing Removed — MiRealSource-MiMLS
• 2011-06-07 Listing Removed — MiRealSource-MiMLS
• 2011-06-07 Listing Removed — MiRealSource-MiMLS
• 2010-12-15 Sold (MLS) $14,999 MiRealSource-MiMLS
• 2010-07-30 Sold (MLS) $16,999 MiRealSource-MiMLS
• 2010-07-22 Sold (MLS) $14,999 MiRealSource-MiMLS
• 2010-06-15 Listed $138,000 MiRealSource-MiMLS
• 2010-06-15 Listed $158,000 MiRealSource-MiMLS
• 2010-06-07 Listed $14,999 MiRealSource-MiMLS
• 2010-06-07 Listed $16,999 MiRealSource-MiMLS
• 2010-06-07 Listed $14,999 MiRealSource-MiMLS
• 2010-06-07 Listed $14,999 MiRealSource-MiMLS
• 2010-06-07 Listed $16,999 MiRealSource-MiMLS
• 2007-05-08 Listing Removed — MiRealSource-MiMLS
• 2007-05-08 Listing Removed — MiRealSource-MiMLS
• 2007-05-03 Listing Removed — MiRealSource-MiMLS

Property tax history

+1.7%/yr

Latest (2020): $2,602 · +1.7% YoY. Source: county tax records.