9141 M 33

Avery, MI 49709

$132,900B

2 bd · 1.0 ba · 1,298 sqft · Built — · SingleFamily · Active · 45 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,364/mo
• Mortgage (P&I): −$697
• Tax + insurance: −$78
• HOA: −$0
• Vac / Maint / Mgmt: −$287
• Net cashflow: $303/mo
• Annual: $3,635/yr
• Cap rate: 9.03%
• Cash-on-cash: 9.77%
• DSCR: 1.43
• 1% rule: 1.03%
• Cash to close: $37,212

Investor read

• This is a 2-bed/1.0-bath single-family listed at $133k.
• At list price, monthly cash flow is $303 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $133k).
• It's been on market 45 days — a 3% lower offer ($129k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $129k (3.0% below list) — sets the bar for market timing.
• In year one you build about $14k of equity ($919 loan paydown + $13k appreciation (10.0% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Atlanta Community Schools (rural): math 25% / reading 35% proficiency, ranked #546 of 760 in MI (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 56 active listings in the ZIP.
• Montmorency County population projected at -38% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 6 sale attempts since 2y 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.
• Current owner paid $60k; list at $133k implies a 122% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $37k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.