18253 Ri Rd

Rock, MI 49880-0000

$64,900B+

1 bd · 1.0 ba · 772 sqft · Built 1970 · SingleFamily · Pending · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,113/mo
• Mortgage (P&I): −$340
• Tax + insurance: −$60
• HOA: −$0
• Vac / Maint / Mgmt: −$234
• Net cashflow: $479/mo
• Annual: $5,748/yr
• Cap rate: 15.15%
• Cash-on-cash: 31.63%
• DSCR: 2.41
• 1% rule: 1.71%
• Cash to close: $18,172

Investor read

• This is a 1-bed/1.0-bath single-family listed at $65k.
• At list price, monthly cash flow is $479 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $2k of equity ($449 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Mid Peninsula School District (rural): math 10% / reading 25% proficiency, ranked #653 of 760 in MI (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 2 active listings in the ZIP; 91 units permitted in Marquette County in 2024 (0 in 5+ unit buildings).
• Marquette County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts since 12y 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.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.