310 N 18th St · Escanaba, MI 49829

$139,900

3 bd · 2.0 ba · 1,661 sqft · SingleFamily public records · 71 Days on market

Built 1905 6,098 sqft lot $84/sqft · 53% above area

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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 +22.3/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +5.0/10.0
• Livability +3.8/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice 2 unit investment property with good size yard and plenty of parking. Opportunity to use as single family as it has the original staircase between floors. Both units have loads of storage space included. lower unit has large pantry. basement offers additional storage plus laundry setup for lower unit. Upper unit has 3 storage areas and large entry for your extras. Garage has been used for toy storage only as it has a small door, could be updated for something larger. City certified both units vacant recently.

Key facts

• Good size yard
• Plenty of parking
• Large pantry

Tags

• GOOD SIZE YARD
• PLENTY OF PARKING
• ORIGINAL STAIRCASE
• LOADS OF STORAGE SPACE
• LARGE PANTRY
• ADDITIONAL STORAGE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $229 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $139k (0.3% below list).
• Recommended offer: $132k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 4.9% in Escanaba — 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 75/100 on livability (#161 in MI, #4,089 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: crime D+, commute F, employment F.
• Escanaba Area Public Schools (town): math 31% / reading 46% proficiency, ranked #243 of 540 in MI (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 63 active listings in the ZIP; 38 units permitted in Delta County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Delta County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y 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 $39k; list at $140k implies a 259% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $131,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
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 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: 1.00% ✗
• Cap rate: 8.26%
• Cash-on-cash: 7.02%
• DSCR: 1.31
• GRM: 8.4

CMA / ARV

• ARV (median comp): $91,158
• List price: $139,900
• Delta: 53.47%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
201 N 16th St	0.16mi	4/1.5 (+1)	1,640 (-1%)	7mo	$165,000	$101	77
309 S 18th St	0.35mi	3/1.0	1,600 (-4%)	1mo	$145,000	$91	73
105 N 19th St	0.18mi	3/2.0	1,490 (-10%)	3mo	$80,100	$54	72
404 S 15th St	0.49mi	3/2.0	1,614 (-3%)	4mo	$164,900	$102	69
304 N 21st St	0.19mi	3/1.0	1,501 (-10%)	5mo	$68,750	$46	67
300 N 13th St	0.36mi	3/1.5	1,438 (-13%)	4mo	$138,000	$96	55
1019 S 1st Ave	0.59mi	3/1.0	1,604 (-3%)	12mo	$110,000	$69	52
620 S 16th St	0.64mi	3/1.5	1,556 (-6%)	6mo	$185,000	$119	52
215 N 10th St	0.56mi	4/2.0 (+1)	1,560 (-6%)	11mo	$123,000	$79	50
424 S 17th St	0.51mi	4/1.5 (+1)	1,596 (-4%)	17mo	$180,000	$113	48
2530 S 1st Ave	0.62mi	3/2.5	1,561 (-6%)	14mo	$235,000	$151	47
807 N 20th St	0.49mi	3/1.0	1,424 (-14%)	14mo	$116,500	$82	38

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: -5.6%
• Equity multiple: 0.79×
• Total profit: $-8,110
• Equity at exit: $20,860

10-year hold

• IRR: 4.1%
• Equity multiple: 1.30×
• Total profit: $11,583
• Equity at exit: $12,096

Cash invested: $39,172 (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 49829

• Home prices YoY: -25.6%
• Active inventory: 63
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,395 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$81 /mo · $968/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $229

Break-even live

Break-even rent $1,105

Max offer price $139,900

Occupancy floor 79%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $139,900 Active 71 DOM
2. 2026-06-17
   days on market $139,900 Active 70 DOM
3. 2026-06-16
   days on market $139,900 Active 69 DOM
4. 2026-06-15
   days on market $139,900 Active 68 DOM
5. 2026-06-13
   days on market $139,900 Active 66 DOM
6. 2026-06-12
   days on market $139,900 Active 65 DOM
7. 2026-06-09
   days on market $139,900 Active 62 DOM
8. 2026-06-08
   days on market $139,900 Active 61 DOM
9. 2026-06-07
   days on market $139,900 Active 60 DOM
10. 2026-06-07
    days on market $139,900 Active 59 DOM
11. 2026-06-04
    days on market $139,900 Active 56 DOM
12. 2026-06-02
    days on market $139,900 Active 55 DOM
13. 2026-06-01
    days on market $139,900 Active 54 DOM
14. 2026-05-31
    days on market $139,900 Active 53 DOM
15. 2026-05-31
    days on market $139,900 Active 52 DOM
16. 2026-04-09
    listed $139,900 Active 520-char remark

    Show marketing remark (520 chars)

    Nice 2 unit investment property with good size yard and plenty of parking. Opportunity to use as single family as it has the original staircase between floors. Both units have loads of storage space included. lower unit has large pantry. basement offers additional storage plus laundry setup for lower unit. Upper unit has 3 storage areas and large entry for your extras. Garage has been used for toy storage only as it has a small door, could be updated for something larger. City certified both units vacant recently.

17. 2026-04-08
    listed $139,900 Active 520-char remark

    Show marketing remark (520 chars)

    Nice 2 unit investment property with good size yard and plenty of parking. Opportunity to use as single family as it has the original staircase between floors. Both units have loads of storage space included. lower unit has large pantry. basement offers additional storage plus laundry setup for lower unit. Upper unit has 3 storage areas and large entry for your extras. Garage has been used for toy storage only as it has a small door, could be updated for something larger. City certified both units vacant recently.

18. 2018-09-26
    soldstatus $39,000 395-char remark

    Show marketing remark (395 chars)

    The front porch spans the front of this duplex. The main floor unit has large rooms. The kitchen has glass tile back-splash behind the sink & oven/range. There is a huge walk-in pantry. The full basement & two car garage can be used by the main floor tenant. The upper unit also has good sized rooms. Don't judge the inside by the exterior. This could easily be a single family home.

19. 2018-09-26
    soldstatus $39,000

    Show marketing remark (395 chars)

    The front porch spans the front of this duplex. The main floor unit has large rooms. The kitchen has glass tile back-splash behind the sink & oven/range. There is a huge walk-in pantry. The full basement & two car garage can be used by the main floor tenant. The upper unit also has good sized rooms. Don't judge the inside by the exterior. This could easily be a single family home.

20. 2018-05-02
    listed $42,900 395-char remark

    Show marketing remark (395 chars)

    The front porch spans the front of this duplex. The main floor unit has large rooms. The kitchen has glass tile back-splash behind the sink & oven/range. There is a huge walk-in pantry. The full basement & two car garage can be used by the main floor tenant. The upper unit also has good sized rooms. Don't judge the inside by the exterior. This could easily be a single family home.

21. 2005-04-13
    soldstatus $39,000

ⓘ 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: $968 · $81/mo
• Projected year-2 tax: $1,561 · $130/mo
• Expected delta: +$593/yr (+$49/mo · 61.2%)

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

Taxation est. · year 1

• Rental income: $16,736
• − Mortgage interest: −$7,837
• − Property taxes: −$968
• − Insurance: −$700
• − Repairs & maintenance: −$1,339
• − Management: −$1,339
• − Depreciation: −$4,070
• Taxable income: $484
• Est. tax owed @ 24.0%: −$116
• After-tax cash flow: $2,634/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: Escanaba Area Public Schools
• NCES district ID: 2613500
• Math proficiency: 31% ▼ -8.00%
• Reading proficiency: 46% ▼ -1.00%
• Median HH income: $37,187
• Composite: 31.97/100
• National rank: #5841
• State rank: #243 of 540 in MI

Livability — Escanaba

• Score: 75/100
• State rank: #161
• US rank: #4089

Category grades

Amenities A+ 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: Escanaba, MI
• Population (ZIP): 16,859

Population outlook (Delta County) Hauer SSP2

• Today (2025): 34,431 people
• By 2030: 33,003 · -4.1%
• By 2040: 29,748 · -13.6%
• By 2050: 26,753 · -22.3%
• By 2075: 20,962 · -39.1%
• By 2100: 15,616 · -54.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 9% Hispanic / Latino 2% Native American 2%
• Common ancestry: Lithuanian 14% Italian 4% Romanian 4%
• Foreign-born: 1% · Canada

Political lean MEDSL · Delta

• 2024 margin: Solid R (+30.4) · D 34.1% · R 64.5% · Other 1.4%
• 2008→2024 swing: -36.7pp toward R · 2008: 6.3pp · 2024: -30.4pp
• All cycles: 2024: R+30.4 2020: R+26.5 2016: R+25.4 2012: R+6.7 2008: D+6.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -85.16%
• Current HPI: 247.9676
• 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

+258.7% since first listed

6 events — show timeline

• 2026-04-09 Listed $139,900 UPAR
• 2026-04-08 Listed $139,900 MiRealSource-MiMLS
• 2018-09-26 Sold (Public Records) $39,000 Public Records
• 2018-09-26 Sold (MLS) $39,000 UPAR
• 2018-05-02 Listed $42,900 UPAR
• 2005-04-13 Sold (Public Records) $39,000 Public Records

Property tax history

-2.9%/yr

Latest (2025): $968 · -45.8% YoY. Source: county tax records.