203 W Avenue D · McMillan, MI 49868

$99,900

4 bd · 1.0 ba · 1,600 sqft · SingleFamily public records · 113 Days on market

Built 1970 $62/sqft · 16% below area Est $118k · 15% under

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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
• ARV discount +14.3/15.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 4-bedroom home on a corner lot in the Village of Newberry. The home features hardwood floors, newer appliances and a covered patio for your outdoor enjoyment. The detached two-car garage has an additional storage area and an upstairs. Shown by appointment

Key facts

• Covered patio
• Corner lot
• Hardwood floors

Tags

• CORNER LOT
• HARDWOOD FLOORS
• COVERED PATIO
• DETACHED GARAGE
• ADDITIONAL STORAGE AREA
• UPSTAIRS

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $422 ($5k/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: $91k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Tahquamenon Area Schools (town): math 23% / reading 37% proficiency, ranked #374 of 540 in MI (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 67 active listings in the ZIP; 9 units permitted in Luce County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Luce County population projected at -11% 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 ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y 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.

Recommended offer $90,909 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — 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. 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: 1.39% ✓
• Cap rate: 11.36%
• Cash-on-cash: 18.11%
• DSCR: 1.81
• GRM: 6.0

CMA / ARV

• ARV (median comp): $117,762
• List price: $99,900
• Delta: -15.17%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
408 W Ave B	0.25mi	4/2.0	1,734 (+8%)	18mo	$170,000	$98	55
114 W John St	0.53mi	4/2.0	1,529 (-4%)	20mo	$140,000	$92	47
518 E Mcmillan Ave	0.61mi	4/2.0	1,547 (-3%)	23mo	$90,000	$58	43
502 E Mcmillan Ave	0.56mi	3/1.0 (-1)	1,368 (-14%)	16mo	$81,500	$60	31
309 W Helen St	0.58mi	3/1.5 (-1)	1,408 (-12%)	18mo	$146,500	$104	31

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: 9.7%
• Equity multiple: 1.38×
• Total profit: $10,708
• Equity at exit: $14,895

10-year hold

• IRR: 18.9%
• Equity multiple: 2.57×
• Total profit: $43,984
• Equity at exit: $8,638

Cash invested: $27,972 (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 49868

• Home prices YoY: -16.8%
• Active inventory: 67
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,386 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$107 /mo · $1,287/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $422

Break-even live

Break-even rent $852

Max offer price $99,900

Occupancy floor 65%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $99,900 Active 113 DOM
2. 2026-06-17
   days on market $99,900 Active 112 DOM
3. 2026-06-16
   days on market $99,900 Active 111 DOM
4. 2026-06-15
   days on market $99,900 Active 110 DOM
5. 2026-06-13
   days on market $99,900 Active 108 DOM
6. 2026-06-12
   days on market $99,900 Active 107 DOM
7. 2026-06-09
   days on market $99,900 Active 104 DOM
8. 2026-06-08
   days on market $99,900 Active 103 DOM
9. 2026-06-07
   days on market $99,900 Active 102 DOM
10. 2026-06-07
    days on market $99,900 Active 101 DOM
11. 2026-06-04
    days on market $99,900 Active 98 DOM
12. 2026-06-02
    days on market $99,900 Active 97 DOM
13. 2026-06-01
    days on market $99,900 Active 96 DOM
14. 2026-05-31
    days on market $99,900 Active 95 DOM
15. 2026-05-31
    days on market $99,900 Active 94 DOM
16. 2026-02-25
    listed $99,900 Active 264-char remark

    Show marketing remark (264 chars)

    Charming 4-bedroom home on a corner lot in the Village of Newberry. The home features hardwood floors, newer appliances and a covered patio for your outdoor enjoyment. The detached two-car garage has an additional storage area and an upstairs. Shown by appointment

17. 2024-07-08
    soldstatus $100,000 Closed 313-char remark

    Show marketing remark (313 chars)

    Charming 4-bedroom home featuring 2 fireplaces, hardwood floors in the family room, a sunroom, and a spacious yard with a covered back deck for outdoor enjoyment. Home is on a lovely corner lot in the Village of Newberry. Detached Garage with a upstairs and bonus office area. Call today for your personal tour!!!

18. 2024-05-22
    historical Active Under Contract 313-char remark

    Show marketing remark (313 chars)

    Charming 4-bedroom home featuring 2 fireplaces, hardwood floors in the family room, a sunroom, and a spacious yard with a covered back deck for outdoor enjoyment. Home is on a lovely corner lot in the Village of Newberry. Detached Garage with a upstairs and bonus office area. Call today for your personal tour!!!

19. 2024-04-22
    price $110,000 313-char remark

    Show marketing remark (313 chars)

    Charming 4-bedroom home featuring 2 fireplaces, hardwood floors in the family room, a sunroom, and a spacious yard with a covered back deck for outdoor enjoyment. Home is on a lovely corner lot in the Village of Newberry. Detached Garage with a upstairs and bonus office area. Call today for your personal tour!!!

20. 2024-03-15
    listed $120,000 Active 313-char remark

    Show marketing remark (313 chars)

    Charming 4-bedroom home featuring 2 fireplaces, hardwood floors in the family room, a sunroom, and a spacious yard with a covered back deck for outdoor enjoyment. Home is on a lovely corner lot in the Village of Newberry. Detached Garage with a upstairs and bonus office area. Call today for your personal tour!!!

21. 2019-09-05
    soldstatus $36,500
22. 2019-09-05
    soldstatus $36,500
23. 2017-08-04
    listed $40,000

ⓘ 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: $1,287 · $107/mo
• Projected year-2 tax: $1,413 · $118/mo
• Expected delta: +$126/yr (+$10/mo · 9.8%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥89°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: $16,631
• − Mortgage interest: −$5,596
• − Property taxes: −$1,287
• − Insurance: −$500
• − Repairs & maintenance: −$1,330
• − Management: −$1,330
• − Depreciation: −$2,906
• Taxable income: $3,682
• Est. tax owed @ 24.0%: −$884
• After-tax cash flow: $4,182/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: Tahquamenon Area Schools
• NCES district ID: 2625350
• Math proficiency: 23% ▼ -1.00%
• Reading proficiency: 37% ▼ -4.00%
• Median HH income: $38,217
• Composite: 25.03/100
• National rank: #7553
• State rank: #374 of 540 in MI

Livability — McMillan

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

Census & demographics

• Census place: Newberry, MI
• Population (ZIP): 5,231

Population outlook (Luce County) Hauer SSP2

• Today (2025): 6,185 people
• By 2030: 6,049 · -2.2%
• By 2040: 5,756 · -6.9%
• By 2050: 5,481 · -11.4%
• By 2075: 4,729 · -23.5%
• By 2100: 3,631 · -41.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 10% Native American 8% Two or more races 6% Hispanic / Latino 2%
• Common ancestry: Romanian 4% Lithuanian 3% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 2% Arabic 1%

Political lean MEDSL · Luce

• 2024 margin: Solid R (+46.9) · D 25.8% · R 72.7% · Other 1.5%
• 2008→2024 swing: -36.0pp toward R · 2008: -10.9pp · 2024: -46.9pp
• All cycles: 2024: R+46.9 2020: R+42.2 2016: R+41.7 2012: R+22.2 2008: R+10.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -26.69%
• Current HPI: 132.0633
• 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

+149.8% since first listed

8 events — show timeline

• 2026-02-25 Listed $99,900 EUPBR
• 2024-07-08 Sold (MLS) $100,000 WWMLS
• 2024-05-22 Contingent — WWMLS
• 2024-04-22 Price Changed $110,000 WWMLS
• 2024-03-15 Listed $120,000 WWMLS
• 2019-09-05 Sold (Public Records) $36,500 Public Records
• 2019-09-05 Sold (MLS) $36,500 EUPBR
• 2017-08-04 Listed $40,000 EUPBR

Property tax history

+7.2%/yr

Latest (2016): $1,287 · +23.2% YoY. Source: county tax records.