23911 Lowell St · Hillman, MI 49746

$119,900

2 bd · 1.5 ba · 1,040 sqft · SingleFamily public records · 31 Days on market

Built 1995 0.34 ac lot

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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 +14.6/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.5/10.0
• Livability +3.1/5.0
• 1% rule +3.0/10.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This 2-bed manufactured home has open concept living & an attached garage. Updates include remodeled bathroom and all new life proof, vinyl plank flooring throughout, some plumbing & electrical too. There is a door wall off dining room to backyard and double closets in master bedroom. Great retirement or starter home with a convenient walking distance to town.

Key facts

• 0.34 acre lot
• Garage
• Built 1995

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $29 ($343/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 $96k (19.9% below list).
• Recommended offer: $96k (19.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#575 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: schools F, crime F, amenities F.
• Hillman Community Schools (rural): math 22% / reading 40% proficiency, ranked #361 of 540 in MI (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 39 active listings in the ZIP.

Forward outlook

• In year one you build about $13k of equity ($829 loan paydown + $12k appreciation (10.0% local appreciation)).
• Montmorency County population projected at -38% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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 $85k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $96,018 (19.9% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 20% 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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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.
6. 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.
7. 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: 0.80% ✗
• Cap rate: 6.58%
• Cash-on-cash: 1.02%
• DSCR: 1.05
• GRM: 10.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.0%
• Equity multiple: 3.00×
• Total profit: $67,075
• Equity at exit: $108,015

10-year hold

• IRR: 22.0%
• Equity multiple: 6.84×
• Total profit: $196,002
• Equity at exit: $232,939

Cash invested: $33,572 (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 49746

• Home prices YoY: 5.7%
• Active inventory: 39
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $960 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$51 /mo · $615/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$202
• Net cashflow: $29

Break-even live

Break-even rent $924

Max offer price $119,900

Occupancy floor 92%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $119,900 Active 31 DOM
2. 2026-06-17
   days on market $119,900 Active 30 DOM
3. 2026-06-16
   days on market $119,900 Active 29 DOM
4. 2026-06-15
   days on market $119,900 Active 28 DOM
5. 2026-06-13
   days on market $119,900 Active 26 DOM
6. 2026-06-12
   pricedays on market $119,900 Active 25 DOM
7. 2026-06-09
   days on market $125,000 Active 22 DOM
8. 2026-06-08
   days on market $125,000 Active 21 DOM
9. 2026-06-07
   days on market $125,000 Active 20 DOM
10. 2026-06-07
    days on market $125,000 Active 19 DOM
11. 2026-06-04
    days on market $125,000 Active 16 DOM
12. 2026-06-02
    days on market $125,000 Active 15 DOM
13. 2026-06-01
    days on market $125,000 Active 14 DOM
14. 2026-05-31
    days on market $125,000 Active 13 DOM
15. 2026-05-31
    days on market $125,000 Active 12 DOM
16. 2026-05-18
    listed $125,000 Active
17. 2023-08-15
    historical 374-char remark

    Show marketing remark (374 chars)

    This 2-bed manufactured home has open concept living & an attached garage. Updates include remodeled bathroom and all new life proof, vinyl plank flooring throughout, some plumbing & electrical too. There is a door wall off dining room to backyard and double closets in master bedroom. Great retirement or starter home with a convenient walking distance to town.

18. 2023-08-11
    soldstatus $84,900 Closed 374-char remark

    Show marketing remark (374 chars)

    This 2-bed manufactured home has open concept living & an attached garage. Updates include remodeled bathroom and all new life proof, vinyl plank flooring throughout, some plumbing & electrical too. There is a door wall off dining room to backyard and double closets in master bedroom. Great retirement or starter home with a convenient walking distance to town.

19. 2023-08-10
    soldstatus $84,900
20. 2023-06-27
    historical Active Under Contract 374-char remark

    Show marketing remark (374 chars)

    This 2-bed manufactured home has open concept living & an attached garage. Updates include remodeled bathroom and all new life proof, vinyl plank flooring throughout, some plumbing & electrical too. There is a door wall off dining room to backyard and double closets in master bedroom. Great retirement or starter home with a convenient walking distance to town.

21. 2023-06-22
    listed $84,900 Active 374-char remark

    Show marketing remark (374 chars)

    This 2-bed manufactured home has open concept living & an attached garage. Updates include remodeled bathroom and all new life proof, vinyl plank flooring throughout, some plumbing & electrical too. There is a door wall off dining room to backyard and double closets in master bedroom. Great retirement or starter home with a convenient walking distance to town.

ⓘ 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: $615 · $51/mo
• Projected year-2 tax: $1,231 · $103/mo
• Expected delta: +$616/yr (+$51/mo · 100.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥94°F today · 13 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: $11,522
• − Mortgage interest: −$6,716
• − Property taxes: −$615
• − Insurance: −$600
• − Repairs & maintenance: −$922
• − Management: −$922
• − Depreciation: −$3,488
• Taxable loss: −$1,740
• Est. tax savings @ 24.0%: +$418
• After-tax cash flow: $761/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: Hillman Community Schools
• NCES district ID: 2618360
• Math proficiency: 22% ▬ 0.00%
• Reading proficiency: 40% ▲ 3.00%
• Median HH income: $37,668
• Composite: 25.78/100
• National rank: #7368
• State rank: #361 of 540 in MI

Livability — Hillman

• Score: 61/100
• State rank: #575
• US rank: #18368

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hillman, MI
• Population (ZIP): 3,502

Population outlook (Montmorency County) Hauer SSP2

• Today (2025): 8,233 people
• By 2030: 7,575 · -8.0%
• By 2040: 6,202 · -24.7%
• By 2050: 5,081 · -38.3%
• By 2075: 3,119 · -62.1%
• By 2100: 1,923 · -76.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 1% Native American 1%
• Common ancestry: Romanian 9% Lithuanian 6% Slovak 2%
• Foreign-born: 1% · Canada

Political lean MEDSL · Montmorency

• 2024 margin: Solid R (+45.3) · D 26.6% · R 72.0% · Other 1.4%
• 2008→2024 swing: -37.2pp toward R · 2008: -8.2pp · 2024: -45.3pp
• All cycles: 2024: R+45.3 2020: R+43.4 2016: R+44.2 2012: R+17.4 2008: R+8.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.19%
• Current HPI: 208.751
• 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

+47.2% since first listed

6 events — show timeline

• 2026-05-18 Listed $125,000 WWMLS
• 2023-08-15 Delisted — WWMLS
• 2023-08-11 Sold (MLS) $84,900 WWMLS
• 2023-08-10 Sold (Public Records) $84,900 Public Records
• 2023-06-27 Contingent — WWMLS
• 2023-06-22 Listed $84,900 WWMLS

Property tax history

+13.3%/yr

Latest (2024): $615 · -37.2% YoY. Source: county tax records.