4784 Pine Street St SW · Boardman, MI 49680

$64,900

3 bd · 2.0 ba · 980 sqft · SingleFamily public records · 9 Days on market

Built 1987 9,583 sqft lot

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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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0

Listing remarks MLS

Opportunity awaits with this 3-bedroom, 2-bath single-wide manufactured home situated on a spacious 1/4-acre lot in South Boardman. This fixer-upper offers excellent potential for investors, flippers, or buyers looking to build equity through renovation. Partial remodeling has already been started, giving the next owner a valuable head start on completing the project to their own style and specifications. The home is serviced by natural gas, a private well, and septic system, helping keep utility costs manageable. With a functional layout, this property could make an ideal long-term rental, starter home renovation, or investment opportunity. Conveniently located just 30 minutes from Traverse City and Grayling, you'll enjoy easy access to employment, shopping, dining, and recreation while still benefiting from the quiet, small-town atmosphere of South Boardman. Bring your vision and unlock the potential this property has to offer!

Key facts

• Partial remodeling
• Private well
• Spacious lot

Tags

• SPACIOUS LOT
• PARTIAL REMODELING
• NATURAL GAS
• PRIVATE WELL
• SEPTIC SYSTEM
• FUNCTIONAL LAYOUT

Property features AI

Exterior

• Utilities: Private well water; Septic system; Cable available
• Home design: Single-wide manufactured home; One-story
• Construction: Built in 1987; Piers foundation
• Exterior features: Aluminum exterior; Fenced yard; Shed on property; Subdivision setting

Interior

• Kitchen: Main-level kitchen about 11 x 13
• Bedrooms: Main-level primary bedroom about 12 x 13; Main-level second bedroom about 8 x 10; Main-level third bedroom about 13 (width listed as W=13)
• Bathrooms: Two full bathrooms (total 2)
• Heating & cooling: Forced air heating; Natural gas fuel
• Interior features: First-floor bedroom; Main-level living areas
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $407 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Forest Area Community Schools (rural): math 16% / reading 31% proficiency, ranked #438 of 540 in MI (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 24 active listings in the ZIP; 38 units permitted in Kalkaska County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($449 loan paydown + $6k appreciation (10.0% local appreciation)).
• Kalkaska County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 10y 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 $25k; list at $65k implies a 160% gain — meaningful room to come down on a strong offer.

Recommended offer $64,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.70% ✓
• Cap rate: 13.82%
• Cash-on-cash: 26.89%
• DSCR: 2.20
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $189,140
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4787 SW Pine St	0.04mi	2/2.0 (-1)	988 (+1%)	17mo	$137,900	$140	77
5721 SW Maple Dr	0.65mi	2/1.0 (-1)	1,040 (+6%)	8mo	$201,000	$193	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 44.6%
• Equity multiple: 4.37×
• Total profit: $61,302
• Equity at exit: $58,467

10-year hold

• IRR: 38.6%
• Equity multiple: 9.81×
• Total profit: $160,183
• Equity at exit: $126,086

Cash invested: $18,172 (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 49680

• Home prices YoY: 4.3%
• Active inventory: 24
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,100 medium
• Mortgage (P&I): −$340
• Tax from tax record: −$95 /mo · $1,137/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $407

Break-even live

Break-even rent $585

Max offer price $64,900

Occupancy floor 58%

Sensitivity live

Price	-10% $444	-5% $426	+0% $407	+5% $389	+10% $370
Rent	-10% $320	-5% $364	+0% $407	+5% $451	+10% $494
Rate	-1.0pp $440	-0.5pp $424	base $407	+0.5pp $390	+1.0pp $373

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-21
   statusdays on market $64,900 Active Under Contract 9 DOM
2. 2026-06-18
   days on market $64,900 Active 7 DOM
3. 2026-06-17
   days on market $64,900 Active 6 DOM
4. 2026-06-16
   days on market $64,900 Active 5 DOM
5. 2026-06-16
   listing id $64,900 Active 4 DOM
6. 2026-06-15
   days on market $64,900 Active 4 DOM
7. 2026-06-13
   days on market $64,900 Active 2 DOM
8. 2026-06-12
   remarks 699-char remark
9. 2026-06-12
   listed $64,900 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: $1,137 · $95/mo
• Projected year-2 tax: $1,137 · $95/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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥94°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,204
• − Mortgage interest: −$3,635
• − Property taxes: −$1,137
• − Insurance: −$324
• − Repairs & maintenance: −$1,056
• − Management: −$1,056
• − Depreciation: −$1,888
• Taxable income: $4,107
• Est. tax owed @ 24.0%: −$986
• After-tax cash flow: $3,900/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: Forest Area Community Schools
• NCES district ID: 2614570
• Math proficiency: 16% ▼ -8.00%
• Reading proficiency: 31% ▼ -9.00%
• Median HH income: $43,072
• Composite: 20.09/100
• National rank: #8649
• State rank: #438 of 540 in MI

Livability — Boardman

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

Census & demographics

• Census place: South Boardman, MI
• Population (ZIP): 2,125

Population outlook (Kalkaska County) Hauer SSP2

• Today (2025): 17,359 people
• By 2030: 17,222 · -0.8%
• By 2040: 16,643 · -4.1%
• By 2050: 15,810 · -8.9%
• By 2075: 13,772 · -20.7%
• By 2100: 10,976 · -36.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Black 4% Two or more races 1%
• Common ancestry: Iranian 12% Romanian 6% Lithuanian 3%
• Foreign-born: 0%
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Kalkaska

• 2024 margin: Solid R (+42.9) · D 27.8% · R 70.7% · Other 1.5%
• 2008→2024 swing: -34.1pp toward R · 2008: -8.8pp · 2024: -42.9pp
• All cycles: 2024: R+42.9 2020: R+41.7 2016: R+44.1 2012: R+19.7 2008: R+8.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 13.35%
• Current HPI: 320.5552
• 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

+131.8% since first listed

8 events — show timeline

• 2026-06-11 Listed $64,900 REALCOMP
• 2026-06-11 Listed $64,900 MiRealSource-MiMLS
• 2017-04-07 Sold (Public Records) $25,000 Public Records
• 2017-03-31 Sold (MLS) $25,000 REALCOMP
• 2017-03-31 Sold (MLS) $25,000 MiRealSource-MiMLS
• 2016-08-02 Listed $26,000 REALCOMP
• 2016-08-02 Listed $26,000 MiRealSource-MiMLS
• 2005-11-10 Sold (Public Records) $28,000 Public Records

Property tax history

+9.4%/yr

Latest (2025): $1,137 · +183.4% YoY. Source: county tax records.