N17375 Co Rd 579 Rd · Meyer, MI 49847

$62,500

3 bd · 1.0 ba · 1,015 sqft · SingleFamily · 359 Days on market

Poor condition 30 ac lot $62/sqft · 75% below area

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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
• ARV discount +7.5/15.0
• Appreciation +5.7/10.0
• Schools +4.4/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +1.0/5.0

Listing remarks MLS

Here we have a 29.77 acre parcel with a higher wooded strip along a paved county road with a large amount of wetland acreage behind it going to the rear of the parcel. There presently exists a three bedroom, one bath home with a metal roof and an oversized two car garage with space for a workshop. The home and garage are in poor condition and, I believe, most prospects would likely consider it a tear down. With that said, an adventurous and optimistic person may be tempted to salvage the structures. One should exercise extreme caution if they decide to enter either of the structures. There is evidence of a driven point for water and I've been told the old septic tank is damaged and non-functioning.

Key facts

• Paved county road
• Metal roof
• 29.77 acre parcel

Tags

• 29.77 ACRE PARCEL
• WOODED STRIP
• PAVED COUNTY ROAD
• METAL ROOF
• OVERSIZED TWO CAR GARAGE
• SPACE FOR A WORKSHOP

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $62k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $393 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $62k).
• Recommended offer: $55k (12.0% 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.
• North Central Area Schools (rural): math 40% / reading 60% proficiency, ranked #202 of 760 in MI (top 27%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 6 active listings in the ZIP; 26 units permitted in Menominee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($432 loan paydown + $931 appreciation (1.5% local appreciation)).
• Menominee County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.5% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 359 days — a 12% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

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

Recommended offer $55,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 359 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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: 1.67% ✓
• Cap rate: 13.85%
• Cash-on-cash: 26.97%
• DSCR: 2.20
• GRM: 5.0

CMA / ARV

• ARV (median comp): $246,668
• List price: $62,500
• Delta: -74.66%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

1.49% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 30.2%
• Equity multiple: 2.59×
• Total profit: $27,749
• Equity at exit: $22,942

10-year hold

• IRR: 32.1%
• Equity multiple: 5.01×
• Total profit: $70,123
• Equity at exit: $31,771

Cash invested: $17,500 (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 49847

• Home prices YoY: 1.4%
• Active inventory: 6
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,045 medium
• Mortgage (P&I): −$328
• Tax est. 1.5%: −$78 /mo · $938/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$219
• Net cashflow: $393

Break-even live

Break-even rent $547

Max offer price $62,500

Occupancy floor 57%

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: $15,625
• Closing costs: $1,875
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $62,500 Active 359 DOM
2. 2026-06-17
   days on market $62,500 Active 358 DOM
3. 2026-06-16
   days on market $62,500 Active 357 DOM
4. 2026-06-15
   days on market $62,500 Active 356 DOM
5. 2026-06-13
   days on market $62,500 Active 354 DOM
6. 2026-06-12
   days on market $62,500 Active 353 DOM
7. 2026-06-09
   days on market $62,500 Active 350 DOM
8. 2026-06-08
   days on market $62,500 Active 349 DOM
9. 2026-06-07
   days on market $62,500 Active 348 DOM
10. 2026-06-07
    days on market $62,500 Active 347 DOM
11. 2026-06-04
    days on market $62,500 Active 344 DOM
12. 2026-06-02
    days on market $62,500 Active 343 DOM
13. 2026-06-01
    days on market $62,500 Active 342 DOM
14. 2026-05-31
    days on market $62,500 Active 341 DOM
15. 2026-05-31
    days on market $62,500 Active 340 DOM
16. 2025-06-25
    listed $62,500 Active 707-char remark

    Show marketing remark (707 chars)

    Here we have a 29.77 acre parcel with a higher wooded strip along a paved county road with a large amount of wetland acreage behind it going to the rear of the parcel. There presently exists a three bedroom, one bath home with a metal roof and an oversized two car garage with space for a workshop. The home and garage are in poor condition and, I believe, most prospects would likely consider it a tear down. With that said, an adventurous and optimistic person may be tempted to salvage the structures. One should exercise extreme caution if they decide to enter either of the structures. There is evidence of a driven point for water and I've been told the old septic tank is damaged and non-functioning.

17. 2025-06-20
    listed $62,500 Active 707-char remark

    Show marketing remark (707 chars)

    Here we have a 29.77 acre parcel with a higher wooded strip along a paved county road with a large amount of wetland acreage behind it going to the rear of the parcel. There presently exists a three bedroom, one bath home with a metal roof and an oversized two car garage with space for a workshop. The home and garage are in poor condition and, I believe, most prospects would likely consider it a tear down. With that said, an adventurous and optimistic person may be tempted to salvage the structures. One should exercise extreme caution if they decide to enter either of the structures. There is evidence of a driven point for water and I've been told the old septic tank is damaged and non-functioning.

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 68% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 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: $12,536
• − Mortgage interest: −$3,501
• − Property taxes: −$938
• − Insurance: −$312
• − Repairs & maintenance: −$1,003
• − Management: −$1,003
• − Depreciation: −$1,818
• Taxable income: $3,961
• Est. tax owed @ 24.0%: −$951
• After-tax cash flow: $3,770/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 · 12 photos

Poor 20/100 Extensive rehab

This property requires extensive repairs and improvements to become move-in ready. Significant work is needed in the exterior, roof, flooring, HVAC, and landscaping to increase its value.

Repairs flagged

• Major roof — Rusted and damaged
• Major exterior walls — Peeling paint and exposed drywall
• Major flooring — Worn carpet and exposed subfloor
• Major HVAC/mechanicals — Exposed ductwork and old appliances
• Major landscaping — Overgrown vegetation and unkempt appearance

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances property's visual appeal and could attract more buyers
• Both HVAC and mechanical upgrades — Improves comfort and energy efficiency, attracting more renters
• Both Exterior and interior repairs — Restores the home's structural integrity and enhances its overall appearance

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Rusted and damaged	Major	$15,000–50,000
exterior walls · Peeling paint and exposed drywall	Major	$15,000–50,000
flooring · Worn carpet and exposed subfloor	Major	$15,000–50,000
HVAC/mechanicals · Exposed ductwork and old appliances	Major	$15,000–50,000
landscaping · Overgrown vegetation and unkempt appearance	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances property's visual appeal and could attract more buyers ↑
• Both HVAC and mechanical upgrades — Improves comfort and energy efficiency, attracting more renters ↑
• Both Exterior and interior repairs — Restores the home's structural integrity and enhances its overall appearance ↑

ⓘ 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: North Central Area Schools
• NCES district ID: 2629220
• Math proficiency: 40% ▲ 5.00%
• Reading proficiency: 60% ▲ 5.00%
• Median HH income: $36,865
• Composite: 43.51/100
• National rank: #6455
• State rank: #202 of 760 in MI

Livability — Meyer

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

Census & demographics

• Population (ZIP): 1,063

Population outlook (Menominee County) Hauer SSP2

• Today (2025): 22,668 people
• By 2030: 21,986 · -3.0%
• By 2040: 20,196 · -10.9%
• By 2050: 18,335 · -19.1%
• By 2075: 14,771 · -34.8%
• By 2100: 10,999 · -51.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3%
• Common ancestry: Lithuanian 21% Romanian 7% Italian 3%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Other Asian/Pacific 2% Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Menominee

• 2024 margin: Solid R (+33.6) · D 32.6% · R 66.2% · Other 1.2%
• 2008→2024 swing: -43.8pp toward R · 2008: 10.2pp · 2024: -33.6pp
• All cycles: 2024: R+33.6 2020: R+30.1 2016: R+29.4 2012: R+2.9 2008: D+10.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.49%
• Current HPI: 109.1389
• 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

+0.0% since first listed

2 events — show timeline

• 2025-06-25 Listed $62,500 REALCOMP
• 2025-06-20 Listed $62,500 MiRealSource-MiMLS