202 Highland Dr · Houghton Lake, MI 48653

$97,900

2 bd · 1.0 ba · 1,040 sqft · Manufactured public records · 39 Days on market

Built 1983 9,148 sqft lot $94/sqft · 53% below area Est $189k · 48% under

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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 +20.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.5/10.0
• 1% rule +4.4/10.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Affordable Higgins Lake living. Just one mile from the South State Park! If you are looking to enjoy fishing, boating and/or hiking at a very affordable cost then this is the place for you! This well maintained manufactured home offers a functional layout, 2x6 walls, a metal roof and vinyl thermal windows throughout. Attached sunroom with wood burner. Both a large garage and shed to help fulfill your storage needs. Propane and/or natural gas options. Prime location and budget friendly near Higgins Lake ideal for weekend escapes or daily living. Call today for your private showing!

Key facts

• Metal roof
• Large garage
• Wood burner

Tags

• FUNCTIONAL LAYOUT
• METAL ROOF
• VINYL THERMAL WINDOWS
• ATTACHED SUNROOM
• WOOD BURNER
• LARGE GARAGE

Property features AI

Finance

• HOA & community: Homeowners association present

Exterior

• Parking: Detached garage; Approximately 1.5 garage spaces
• Utilities: Private well water source; Septic tank sewer
• Home design: Single-family residence; One story
• Construction: Aluminum and vinyl siding; Slab foundation
• Exterior features: Private well water; Septic tank sewer; Lot in Higgins Lake Highlands subdivision; Cross streets: Bear Cub Trail and Mari Lake Rd

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating available; Propane heating available; No central cooling
• Interior features: 3 total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $98k.

Deal economics

• At list price, monthly cash flow is $127 ($2k/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 $92k (5.9% below list).
• Recommended offer: $92k (5.9% below list) — sets the bar for 1% rule.
• Cap rate 7.8% vs local median 2.6% in Houghton Lake — 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 63/100 on livability (#504 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, schools F, amenities F.
• Roscommon Area Public Schools (rural): math 30% / reading 44% proficiency, ranked #270 of 540 in MI (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 165 active listings in the ZIP; 73 units permitted in Roscommon County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $677 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Roscommon County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($95k) 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.

Recommended offer $92,145 (5.9% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 0.94% ✗
• Cap rate: 7.85%
• Cash-on-cash: 5.56%
• DSCR: 1.25
• GRM: 8.9

CMA / ARV

• ARV (median comp): $188,535
• List price: $97,900
• Delta: -48.07%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -7.7%
• Equity multiple: 0.72×
• Total profit: $-7,812
• Equity at exit: $14,597

10-year hold

• IRR: 1.8%
• Equity multiple: 1.13×
• Total profit: $3,476
• Equity at exit: $8,465

Cash invested: $27,412 (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 48653

• Home prices YoY: -34.7%
• Active inventory: 165
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $921 medium
• Mortgage (P&I): −$513
• Tax from tax record: −$47 /mo · $562/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$194
• Net cashflow: $127

Break-even live

Break-even rent $761

Max offer price $97,900

Occupancy floor 81%

Sensitivity live

Price	-10% $182	-5% $155	+0% $127	+5% $99	+10% $72
Rent	-10% $54	-5% $91	+0% $127	+5% $163	+10% $200
Rate	-1.0pp $176	-0.5pp $152	base $127	+0.5pp $102	+1.0pp $76

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: $24,475
• Closing costs: $2,937
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $97,900 Active 39 DOM
2. 2026-06-18
   days on market $97,900 Active 37 DOM
3. 2026-06-17
   days on market $97,900 Active 36 DOM
4. 2026-06-16
   days on market $97,900 Active 35 DOM
5. 2026-06-15
   days on market $97,900 Active 34 DOM
6. 2026-06-13
   days on market $97,900 Active 32 DOM
7. 2026-06-12
   days on market $97,900 Active 31 DOM
8. 2026-06-09
   days on market $97,900 Active 28 DOM
9. 2026-06-08
   days on market $97,900 Active 27 DOM
10. 2026-06-07
    days on market $97,900 Active 26 DOM
11. 2026-06-07
    days on market $97,900 Active 25 DOM
12. 2026-06-04
    days on market $97,900 Active 22 DOM
13. 2026-06-02
    days on market $97,900 Active 21 DOM
14. 2026-06-01
    days on market $97,900 Active 20 DOM
15. 2026-05-31
    days on market $97,900 Active 19 DOM
16. 2026-05-31
    days on market $97,900 Active 18 DOM
17. 2026-05-12
    listed $97,900 Active 587-char remark

    Show marketing remark (587 chars)

    Affordable Higgins Lake living. Just one mile from the South State Park! If you are looking to enjoy fishing, boating and/or hiking at a very affordable cost then this is the place for you! This well maintained manufactured home offers a functional layout, 2x6 walls, a metal roof and vinyl thermal windows throughout. Attached sunroom with wood burner. Both a large garage and shed to help fulfill your storage needs. Propane and/or natural gas options. Prime location and budget friendly near Higgins Lake ideal for weekend escapes or daily living. Call today for your private showing!

18. 2026-05-12
    listed $97,900 Active 587-char remark

    Show marketing remark (587 chars)

    Affordable Higgins Lake living. Just one mile from the South State Park! If you are looking to enjoy fishing, boating and/or hiking at a very affordable cost then this is the place for you! This well maintained manufactured home offers a functional layout, 2x6 walls, a metal roof and vinyl thermal windows throughout. Attached sunroom with wood burner. Both a large garage and shed to help fulfill your storage needs. Propane and/or natural gas options. Prime location and budget friendly near Higgins Lake ideal for weekend escapes or daily living. Call today for your private showing!

ⓘ 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: $562 · $47/mo
• Projected year-2 tax: $1,035 · $86/mo
• Expected delta: +$473/yr (+$39/mo · 84.2%)

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

Taxation est. · year 1

• Rental income: $11,057
• − Mortgage interest: −$5,484
• − Property taxes: −$562
• − Insurance: −$490
• − Repairs & maintenance: −$885
• − Management: −$885
• − Depreciation: −$2,848
• Taxable loss: −$95
• Est. tax savings @ 24.0%: +$23
• After-tax cash flow: $1,546/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: Roscommon Area Public Schools
• NCES district ID: 2615830
• Math proficiency: 30% ▼ -11.00%
• Reading proficiency: 44% ▼ -2.00%
• Median HH income: $36,914
• Composite: 30.7/100
• National rank: #6172
• State rank: #270 of 540 in MI

Livability — Houghton Lake

• Score: 63/100
• State rank: #504
• US rank: #14972

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 7,984
• Population (ZIP): 9,638

Population outlook (Roscommon County) Hauer SSP2

• Today (2025): 22,249 people
• By 2030: 21,206 · -4.7%
• By 2040: 19,070 · -14.3%
• By 2050: 17,564 · -21.1%
• By 2075: 15,420 · -30.7%
• By 2100: 13,168 · -40.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Romanian 8% Lithuanian 7% Slovak 3%
• Foreign-born: 1% · Canada, Vietnam

Political lean MEDSL · Roscommon

• 2024 margin: Solid R (+32.9) · D 32.9% · R 65.9% · Other 1.2%
• 2008→2024 swing: -35.5pp toward R · 2008: 2.5pp · 2024: -32.9pp
• All cycles: 2024: R+32.9 2020: R+30.0 2016: R+29.6 2012: R+3.9 2008: D+2.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -118.03%
• Current HPI: 222.4014
• 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

• 2026-05-12 Listed $97,900 REALCOMP
• 2026-05-12 Listed $97,900 MiRealSource-MiMLS

Property tax history

+0.1%/yr

Latest (2025): $562 · +35.7% YoY. Source: county tax records.