1001 Augusta St · Sault Ste. Marie, MI 49783

$74,900

3 bd · 1.0 ba · 891 sqft · SingleFamily public records · 25 Days on market

Built 1940 4,356 sqft lot Est $124k · 40% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.3/10.0
• 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

3 BEDROOM HOME WITH 1 CAR GARAGE AND FULL BASEMENT. HOME IS LOCATED IN THE CITY OF SAULT STE. MARIE

Key facts

• 4,356 sq ft lot
• Garage
• Built 1940

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Shared septic
• Home design: Single-family residence; Two-story
• Construction: Vinyl siding; Above-grade finished area approximately 891 square feet
• Exterior features: Fenced lot (approx. 40 x 103.4); Lot roughly 0.1 acre

Interior

• Bedrooms: Total of 6 rooms (bedrooms counted within room total)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Full unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $507 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $74k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.4% vs local median 4.4% in Sault Ste. Marie — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Sault Ste. Marie Area Schools (town): math 35% / reading 44% proficiency, ranked #230 of 540 in MI (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 128 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 92 units permitted in Chippewa County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $518 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Chippewa County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y 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.

Risks & watch-outs

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

Recommended offer $73,776 (1.5% below list)

Questions for the listing agent

1. Built in 1940 — 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: 1.76% ✓
• Cap rate: 14.41%
• Cash-on-cash: 29.00%
• DSCR: 2.29
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $123,849
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
815 John St	0.21mi	2/1.0 (-1)	885 (-1%)	5mo	$104,000	$118	80
1301 Kimball St	0.23mi	3/1.0	840 (-6%)	8mo	$135,000	$161	73
810 Court St	0.27mi	3/1.5	985 (+10%)	2mo	$75,000	$76	66
1501 Swinton St	0.45mi	2/1.5 (-1)	912 (+2%)	3mo	$144,500	$158	66
1108 Seymour	0.41mi	2/1.5 (-1)	883 (-1%)	10mo	$70,000	$79	64
813 E 9th Ave	0.42mi	3/1.0	816 (-8%)	10mo	$145,000	$178	58
1612 Minneapolis St	0.43mi	3/1.0	1,002 (+12%)	3mo	$95,000	$95	56
1307 Davitt St	0.44mi	2/1.0 (-1)	816 (-8%)	10mo	$120,000	$147	52
122 W 10th Ave	0.55mi	2/1.0 (-1)	982 (+10%)	6mo	$125,000	$127	47
532 Cedar St	0.61mi	2/1.0 (-1)	792 (-11%)	6mo	$110,000	$139	43
121 W 12th Ave	0.71mi	3/1.0	1,008 (+13%)	8mo	$124,468	$123	38
116 W 12th Ave	0.68mi	3/1.5	1,020 (+14%)	10mo	$160,000	$157	34

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

Projected returns pro-forma

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

5-year hold

• IRR: 23.4%
• Equity multiple: 1.96×
• Total profit: $20,170
• Equity at exit: $11,168

10-year hold

• IRR: 31.3%
• Equity multiple: 3.82×
• Total profit: $59,244
• Equity at exit: $6,476

Cash invested: $20,972 (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 49783

• Active inventory: 128
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,315 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$108 /mo · $1,297/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $507

Break-even live

Break-even rent $673

Max offer price $74,900

Occupancy floor 56%

Sensitivity live

Price	-10% $549	-5% $528	+0% $507	+5% $486	+10% $464
Rent	-10% $403	-5% $455	+0% $507	+5% $559	+10% $611
Rate	-1.0pp $545	-0.5pp $526	base $507	+0.5pp $487	+1.0pp $468

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
215 Osborn Blvd Sault Ste. Marie, MI	2.0	1.0	994	$1,315	$1.32	44d	2	0.79mi

Listing history 27 events

1. 2026-06-21
   days on market $74,900 Active 25 DOM
2. 2026-06-18
   days on market $74,900 Active 23 DOM
3. 2026-06-17
   days on market $74,900 Active 22 DOM
4. 2026-06-16
   days on market $74,900 Active 21 DOM
5. 2026-06-15
   days on market $74,900 Active 20 DOM
6. 2026-06-13
   days on market $74,900 Active 18 DOM
7. 2026-06-12
   days on market $74,900 Active 17 DOM
8. 2026-06-09
   days on market $74,900 Active 14 DOM
9. 2026-06-08
   days on market $74,900 Active 13 DOM
10. 2026-06-07
    days on market $74,900 Active 12 DOM
11. 2026-06-07
    days on market $74,900 Active 11 DOM
12. 2026-06-04
    days on market $74,900 Active 8 DOM
13. 2026-06-02
    days on market $74,900 Active 7 DOM
14. 2026-06-01
    days on market $74,900 Active 6 DOM
15. 2026-05-31
    days on market $74,900 Active 5 DOM
16. 2026-05-31
    days on market $74,900 Active 4 DOM
17. 2026-05-21
    listed $74,900 Active 99-char remark

    Show marketing remark (99 chars)

    3 BEDROOM HOME WITH 1 CAR GARAGE AND FULL BASEMENT. HOME IS LOCATED IN THE CITY OF SAULT STE. MARIE

18. 2026-05-21
    listed $74,900 Active 99-char remark

    Show marketing remark (99 chars)

    3 BEDROOM HOME WITH 1 CAR GARAGE AND FULL BASEMENT. HOME IS LOCATED IN THE CITY OF SAULT STE. MARIE

19. 2026-05-21
    listed $74,900 Active

    Show marketing remark (99 chars)

    3 BEDROOM HOME WITH 1 CAR GARAGE AND FULL BASEMENT. HOME IS LOCATED IN THE CITY OF SAULT STE. MARIE

20. 2023-07-10
    soldstatus $75,000 Closed
21. 2023-07-10
    listed $75,000
22. 2023-07-10
    historical
23. 2023-07-10
    soldstatus $75,000
24. 2018-02-08
    soldstatus $62,000
25. 2018-02-08
    soldstatus $62,000
26. 2018-01-09
    listed $58,900
27. 2011-08-30
    soldstatus $54,000

ⓘ 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: $1,297 · $108/mo
• Projected year-2 tax: $1,297 · $108/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥88°F today · 14 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: $15,780
• − Mortgage interest: −$4,196
• − Property taxes: −$1,297
• − Insurance: −$374
• − Repairs & maintenance: −$1,262
• − Management: −$1,262
• − Depreciation: −$2,179
• Taxable income: $5,210
• Est. tax owed @ 24.0%: −$1,250
• After-tax cash flow: $4,831/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: Sault Ste. Marie Area Schools
• NCES district ID: 2630990
• Math proficiency: 35% ▼ -9.00%
• Reading proficiency: 44% ▼ -12.00%
• Median HH income: $40,273
• Composite: 33.12/100
• National rank: #5559
• State rank: #230 of 540 in MI

Livability — Sault Ste. Marie

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

Census & demographics

• Census place: Sault Ste. Marie, MI
• Population (ZIP): 18,778

Population outlook (Chippewa County) Hauer SSP2

• Today (2025): 37,043 people
• By 2030: 36,431 · -1.7%
• By 2040: 34,911 · -5.8%
• By 2050: 33,350 · -10.0%
• By 2075: 29,789 · -19.6%
• By 2100: 24,171 · -34.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Native American 14% Two or more races 13% Hispanic / Latino 2%
• Common ancestry: Lithuanian 6% Romanian 6% Slovak 4%
• Foreign-born: 4% · Canada, Vietnam, Guatemala
• Languages at home: 95% English-only · Spanish 1% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Chippewa

• 2024 margin: Strong R (+24.2) · D 37.0% · R 61.3% · Other 1.7%
• 2008→2024 swing: -23.8pp toward R · 2008: -0.5pp · 2024: -24.2pp
• All cycles: 2024: R+24.2 2020: R+22.9 2016: R+24.2 2012: R+7.6 2008: R+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -183.63%
• Current HPI: 149.9878
• 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

+38.7% since first listed

11 events — show timeline

• 2026-05-21 Listed $74,900 REALCOMP
• 2026-05-21 Listed $74,900 MiRealSource-MiMLS
• 2026-05-21 Listed $74,900 WWMLS
• 2023-07-10 Sold (Public Records) $75,000 Public Records
• 2023-07-10 Delisted — EUPBR
• 2023-07-10 Listed $75,000 EUPBR
• 2023-07-10 Sold (MLS) $75,000 EUPBR
• 2018-02-08 Sold (Public Records) $62,000 Public Records
• 2018-02-08 Sold (MLS) $62,000 EUPBR
• 2018-01-09 Listed $58,900 EUPBR
• 2011-08-30 Sold (Public Records) $54,000 Public Records

Property tax history

+1.0%/yr

Latest (2024): $1,297 · +326.2% YoY. Source: county tax records.