4206 S Shore Dr · Cheshire, MI 49010

$129,900

1 bd · 1.0 ba · 518 sqft · SingleFamily public records · 41 Days on market

Built 1940 0.33 ac lot $251/sqft · 24% below area Est $177k · 26% 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 +15.9/30.0
• ARV discount +15.0/15.0
• DSCR +4.9/10.0
• 1% rule +4.4/10.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 4206 S Shore Dr! This cozy one bed one bath home is a perfect summer retreat! The home offers a living area, kitchen, bedroom, and full bath! Just a short walk to Swan Lake you'll find great fishing, swimming, access points, and beautiful sunsets! The home sits on a double lot offers space to host and entertain in the warm summer months ahead! Schedule your showing today!

Key facts

• Double lot
• Space to host
• 0.33 acre lot

Tags

• DOUBLE LOT
• SPACE TO HOST

Property features AI

Exterior

• Utilities: Electricity available
• Home design: Ranch-style single family residence; Built in 1940; Composition roof
• Construction: Vinyl siding
• Exterior features: Lot of 0.33 acres; Well water

Interior

• Kitchen: Oven; Refrigerator
• Bathrooms: 1 full bathroom
• Interior features: Eat-in kitchen; Total of 3 rooms

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $63 ($752/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 $122k (6.4% below list).
• Recommended offer: $122k (6.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Allegan Public Schools (town): math 26% / reading 37% proficiency, ranked #338 of 540 in MI (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 183 active listings in the ZIP; 419 units permitted in Allegan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 23y ago; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $84k; list at $130k implies a 55% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $121,567 (6.4% below list)

Questions for the listing agent

1. It's been on market 41 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 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 6.87%
• Cash-on-cash: 2.07%
• DSCR: 1.09
• GRM: 8.9

CMA / ARV

• ARV (median comp): $176,642
• List price: $129,900
• Delta: -26.46%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -13.0%
• Equity multiple: 0.53×
• Total profit: $-17,040
• Equity at exit: $19,369

10-year hold

• IRR: -4.0%
• Equity multiple: 0.74×
• Total profit: $-9,624
• Equity at exit: $11,231

Cash invested: $36,372 (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 49010

• Home prices YoY: -34.3%
• Active inventory: 183
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,216 medium
• Mortgage (P&I): −$681
• Tax est. 1.5%: −$162 /mo · $1,948/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $63

Break-even live

Break-even rent $1,136

Max offer price $129,900

Occupancy floor 90%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $129,900 Active 41 DOM
2. 2026-06-17
   days on market $129,900 Active 40 DOM
3. 2026-06-16
   days on market $129,900 Active 39 DOM
4. 2026-06-15
   days on market $129,900 Active 38 DOM
5. 2026-06-13
   days on market $129,900 Active 36 DOM
6. 2026-06-12
   days on market $129,900 Active 35 DOM
7. 2026-06-09
   days on market $129,900 Active 32 DOM
8. 2026-06-08
   days on market $129,900 Active 31 DOM
9. 2026-06-07
   days on market $129,900 Active 30 DOM
10. 2026-06-07
    days on market $129,900 Active 29 DOM
11. 2026-06-04
    days on market $129,900 Active 26 DOM
12. 2026-06-02
    days on market $129,900 Active 25 DOM
13. 2026-06-01
    days on market $129,900 Active 24 DOM
14. 2026-05-31
    days on market $129,900 Active 23 DOM
15. 2026-05-31
    days on market $129,900 Active 22 DOM
16. 2026-05-08
    listed $149,900 Active 385-char remark

    Show marketing remark (385 chars)

    Welcome to 4206 S Shore Dr! This cozy one bed one bath home is a perfect summer retreat! The home offers a living area, kitchen, bedroom, and full bath! Just a short walk to Swan Lake you'll find great fishing, swimming, access points, and beautiful sunsets! The home sits on a double lot offers space to host and entertain in the warm summer months ahead! Schedule your showing today!

17. 2026-05-08
    listed $149,900 Active 385-char remark

    Show marketing remark (385 chars)

    Welcome to 4206 S Shore Dr! This cozy one bed one bath home is a perfect summer retreat! The home offers a living area, kitchen, bedroom, and full bath! Just a short walk to Swan Lake you'll find great fishing, swimming, access points, and beautiful sunsets! The home sits on a double lot offers space to host and entertain in the warm summer months ahead! Schedule your showing today!

18. 2026-05-08
    listed $149,900 Active

    Show marketing remark (385 chars)

    Welcome to 4206 S Shore Dr! This cozy one bed one bath home is a perfect summer retreat! The home offers a living area, kitchen, bedroom, and full bath! Just a short walk to Swan Lake you'll find great fishing, swimming, access points, and beautiful sunsets! The home sits on a double lot offers space to host and entertain in the warm summer months ahead! Schedule your showing today!

19. 2026-01-26
    soldstatus $84,000
20. 2003-06-20
    soldstatus $22,000
21. 2003-06-20
    soldstatus $22,000
22. 2003-02-24
    listed $20,000
23. 2003-02-24
    listed $20,000

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,588
• − Mortgage interest: −$7,276
• − Property taxes: −$1,948
• − Insurance: −$650
• − Repairs & maintenance: −$1,167
• − Management: −$1,167
• − Depreciation: −$3,779
• Taxable loss: −$1,399
• Est. tax savings @ 24.0%: +$336
• After-tax cash flow: $1,088/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: Allegan Public Schools
• NCES district ID: 2602220
• Math proficiency: 26% ▼ -8.00%
• Reading proficiency: 37% ▼ -7.00%
• Median HH income: $48,602
• Composite: 27.27/100
• National rank: #7008
• State rank: #338 of 540 in MI

Livability — Cheshire

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

Census & demographics

• Population (ZIP): 18,394

Population outlook (Allegan County) Hauer SSP2

• Today (2025): 120,251 people
• By 2030: 122,204 · +1.6%
• By 2040: 123,979 · +3.1%
• By 2050: 122,340 · +1.7%
• By 2075: 116,088 · -3.5%
• By 2100: 98,461 · -18.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 8% Hispanic / Latino 5% Black 1%
• Common ancestry: Iranian 10% Romanian 4% Italian 2%
• Foreign-born: 2% · Canada, China
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Allegan

• 2024 margin: Strong R (+27.2) · D 35.7% · R 62.9% · Other 1.5%
• 2008→2024 swing: -16.5pp toward R · 2008: -10.7pp · 2024: -27.2pp
• All cycles: 2024: R+27.2 2020: R+25.2 2016: R+28.8 2012: R+19.2 2008: R+10.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -136.08%
• Current HPI: 260.4976
• 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

+549.5% since first listed

14 events — show timeline

• 2026-05-29 Price Changed $129,900 MiRealSource-MiMLS
• 2026-05-29 Price Changed $129,900 REALCOMP
• 2026-05-29 Price Changed $129,900 SW Michigan MLS
• 2026-05-19 Price Changed $139,900 MiRealSource-MiMLS
• 2026-05-19 Price Changed $139,900 REALCOMP
• 2026-05-19 Price Changed $139,900 SW Michigan MLS
• 2026-05-08 Listed $149,900 SW Michigan MLS
• 2026-05-08 Listed $149,900 REALCOMP
• 2026-05-08 Listed $149,900 MiRealSource-MiMLS
• 2026-01-26 Sold (Public Records) $84,000 Public Records
• 2003-06-20 Sold (MLS) $22,000 REALCOMP
• 2003-06-20 Sold (MLS) $22,000 SW Michigan MLS
• 2003-02-24 Listed $20,000 REALCOMP
• 2003-02-24 Listed $20,000 SW Michigan MLS