8004 N Hiawatha Trl · Naubinway, MI 49762

$85,000

3 bd · 1.0 ba · 1,082 sqft · SingleFamily · 5 Days on market

Built 1950 0.96 ac 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 +27.8/30.0
• DSCR +9.8/10.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• Appreciation +4.7/10.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Located in the Eastern Upper Peninsula this 2 Bedroom 1 bath camp/home has electric installed, a full kitchen, wood stove, tongue and groove woodwork and a pole building. Located on Hiawatha Tral and M-123 with Trout Lake to the north, Lake Michigan to the South, Black River, Garnet Lake and ORV/snowmobile trails to the East. This was a primary residence for the previous owner. It can also make a great home base to venture out to all the recreational activities in the area including fishing, hunting, trail riding and/or snowmobiling. This is an estate sale being sold AS-IS.

Key facts

• Full kitchen
• Wood stove
• Pole building

Tags

• FULL KITCHEN
• WOOD STOVE
• TONGUE AND GROOVE WOODWORK
• POLE BUILDING
• RECREATIONAL ACTIVITIES

Property features AI

Exterior

• Parking: Detached garage (40 x 32) with 3 parking spaces
• Utilities: Drilled well water; Septic sewer; Electricity available; Propane available; Cable available; No water heater listed
• Home design: One-story residential home; Built in 1950
• Construction: Slab foundation
• Exterior features: Vinyl siding; Fenced yard; Road frontage (frontage approx. 100'); Paved country road access

Interior

• Kitchen: Refrigerator
• Bedrooms: First-floor bedroom — 10 x 10; First-floor bedroom — 15 x 7; First-floor bedroom — approx. 12 wide
• Bathrooms: One full bathroom (located on first floor)
• Heating & cooling: Forced air heating; Wood supplemental heat; No central cooling listed
• Interior features: Wood stove fireplace (1 total)
• Laundry & utility: No basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $260 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Engadine Consolidated Schools (rural): math 25% / reading 40% proficiency, ranked #504 of 760 in MI (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 22 active listings in the ZIP; 41 units permitted in Mackinac County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $41 of equity ($588 loan paydown + $-547 appreciation (-0.6% local appreciation)).
• Mackinac County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.6% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 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

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $85,000

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.26% ✓
• Cap rate: 9.96%
• Cash-on-cash: 13.09%
• DSCR: 1.58
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.64% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.5%
• Equity multiple: 1.48×
• Total profit: $11,521
• Equity at exit: $21,980

10-year hold

• IRR: 16.2%
• Equity multiple: 2.67×
• Total profit: $39,748
• Equity at exit: $24,351

Cash invested: $23,800 (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 49762

• Home prices YoY: -0.5%
• Active inventory: 22
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,072 medium
• Mortgage (P&I): −$446
• Tax est. 1.5%: −$106 /mo · $1,275/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $260

Break-even live

Break-even rent $744

Max offer price $85,000

Occupancy floor 71%

Sensitivity live

Price	-10% $318	-5% $289	+0% $260	+5% $230	+10% $201
Rent	-10% $175	-5% $217	+0% $260	+5% $302	+10% $344
Rate	-1.0pp $302	-0.5pp $281	base $260	+0.5pp $238	+1.0pp $215

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-21
   days on market $85,000 Active 5 DOM
2. 2026-06-18
   days on market $85,000 Active 3 DOM
3. 2026-06-17
   days on market $85,000 Active 2 DOM
4. 2026-06-16
   remarks 580-char remark
5. 2026-06-16
   listed $85,000 Active 1 DOM

ⓘ 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 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥88°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: $12,865
• − Mortgage interest: −$4,761
• − Property taxes: −$1,275
• − Insurance: −$425
• − Repairs & maintenance: −$1,029
• − Management: −$1,029
• − Depreciation: −$2,473
• Taxable income: $1,873
• Est. tax owed @ 24.0%: −$449
• After-tax cash flow: $2,665/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: Engadine Consolidated Schools
• NCES district ID: 2615600
• Math proficiency: 25% ▲ 5.00%
• Reading proficiency: 40% ▲ 15.00%
• Median HH income: $39,019
• Composite: 29.93/100
• National rank: #11667
• State rank: #504 of 760 in MI

Livability — Naubinway

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

Census & demographics

• Population (ZIP): 620

Population outlook (Mackinac County) Hauer SSP2

• Today (2025): 10,449 people
• By 2030: 10,075 · -3.6%
• By 2040: 9,220 · -11.8%
• By 2050: 8,595 · -17.7%
• By 2075: 7,996 · -23.5%
• By 2100: 7,434 · -28.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Native American 14% Two or more races 9% Hispanic / Latino 2%
• Common ancestry: Iranian 9% Lithuanian 6% Romanian 4%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1% French/Haitian/Cajun 0% Other Indo-European 0%

Political lean MEDSL · Mackinac

• 2024 margin: Strong R (+24.9) · D 37.0% · R 61.8% · Other 1.2%
• 2008→2024 swing: -21.1pp toward R · 2008: -3.8pp · 2024: -24.9pp
• All cycles: 2024: R+24.9 2020: R+23.8 2016: R+27.2 2012: R+12.2 2008: R+3.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.64%
• Current HPI: 128.9922
• 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

• 2026-06-15 Listed $85,000 UPAR
• 2026-06-15 Listed $85,000 MiRealSource-MiMLS

Property tax history

-3.3%/yr

Latest (2024): $82 · -55.6% YoY. Source: county tax records.