1889 Kennedy Ln · Kingsford, MI 54121

$174,900

3 bd · 1.0 ba · 1,452 sqft · SingleFamily · 244 Days on market

Built 1981 1.70 ac lot $120/sqft · 36% below area Est $274k · 36% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +8.0/30.0
• Livability +3.9/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• DSCR +2.0/10.0

Listing remarks MLS

Enjoy space and privacy with this home featuring an attached garage, partially finished basement, and a large fenced-in yard with a deck?perfect for outdoor living. Set on a beautiful 1.7 acres. Don?t miss this home with tons of potential! Heating is electric heat. Seller is offering a $2000.00 credit for flooring. Flooring in bedrooms and finished basement area are ripped up.

Key facts

• Large fenced-in yard
• Attached garage
• Deck

Tags

• ATTACHED GARAGE
• PARTIALLY FINISHED BASEMENT
• LARGE FENCED-IN YARD
• DECK
• 1.7 ACRES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $-182 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $143k (18.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $122k (30.3% below list).
• Recommended offer: $122k (30.3% below list) — sets the bar for 1% rule.
• Cap rate 5.0% vs local median 3.8% in Kingsford — 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 78/100 on livability (#104 in MI, #2,537 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Florence County School District (rural): math 35% / reading 40% proficiency, ranked #293 of 426 in WI (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 38 units permitted in Florence County in 2024 (5 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $17k appreciation (10.0% local appreciation)).
• Florence County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 244 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $68k; list at $175k implies a 157% gain — meaningful room to come down on a strong offer.

Recommended offer $121,920 (30.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 244 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.70% ✗
• Cap rate: 5.04%
• Cash-on-cash: -4.46%
• DSCR: 0.80
• GRM: 12.0

CMA / ARV

• ARV (median comp): $273,751
• List price: $174,900
• Delta: -36.11%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4724 Reagan Ln	0.62mi	2/2.0 (-1)	1,300 (-10%)	2mo	$245,000	$188	43

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

Projected returns pro-forma

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

5-year hold

• IRR: 21.1%
• Equity multiple: 2.71×
• Total profit: $83,641
• Equity at exit: $157,564

10-year hold

• IRR: 19.1%
• Equity multiple: 6.21×
• Total profit: $255,385
• Equity at exit: $339,792

Cash invested: $48,972 (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 54121

• Home prices YoY: 11.2%
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $1,219 medium
• Mortgage (P&I): −$917
• Tax from tax record: −$155 /mo · $1,862/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $-182

Break-even live

Break-even rent $1,450

Max offer price $142,744

Occupancy floor —

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $174,900 Active 244 DOM
2. 2026-06-17
   days on market $174,900 Active 243 DOM
3. 2026-06-16
   days on market $174,900 Active 242 DOM
4. 2026-06-15
   days on market $174,900 Active 241 DOM
5. 2026-06-15
   days on market $174,900 Active 240 DOM
6. 2026-06-13
   days on market $174,900 Active 239 DOM
7. 2026-06-12
   days on market $174,900 Active 238 DOM
8. 2026-06-09
   days on market $174,900 Active 235 DOM
9. 2026-06-08
   days on market $174,900 Active 234 DOM
10. 2026-06-08
    days on market $174,900 Active 233 DOM
11. 2026-06-05
    days on market $174,900 Active 231 DOM
12. 2026-06-03
    days on market $174,900 Active 229 DOM
13. 2026-06-02
    pricedays on market $174,900 Active 228 DOM
14. 2026-06-01
    days on market $189,900 Active 227 DOM
15. 2026-05-31
    days on market $189,900 Active 226 DOM
16. 2025-10-17
    listed $189,900 Active 380-char remark

    Show marketing remark (380 chars)

    Enjoy space and privacy with this home featuring an attached garage, partially finished basement, and a large fenced-in yard with a deck?perfect for outdoor living. Set on a beautiful 1.7 acres. Don?t miss this home with tons of potential! Heating is electric heat. Seller is offering a $2000.00 credit for flooring. Flooring in bedrooms and finished basement area are ripped up.

17. 2003-04-30
    soldstatus $68,000

ⓘ 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: $1,862 · $155/mo
• Projected year-2 tax: $2,278 · $190/mo
• Expected delta: +$416/yr (+$35/mo · 22.3%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥93°F today · 12 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: $14,630
• − Mortgage interest: −$9,797
• − Property taxes: −$1,862
• − Insurance: −$874
• − Repairs & maintenance: −$1,170
• − Management: −$1,170
• − Depreciation: −$5,088
• Taxable loss: −$5,332
• Est. tax savings @ 24.0%: +$1,280
• After-tax cash flow: $-905/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: Florence County School District
• NCES district ID: 5504650
• Math proficiency: 35% ▬ 0.00%
• Reading proficiency: 40% ▬ 0.00%
• Median HH income: $45,179
• Composite: 34.48/100
• National rank: #10144
• State rank: #293 of 426 in WI

Livability — Kingsford

• Score: 78/100
• State rank: #104
• US rank: #2537

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 6,014
• Population (ZIP): 3,213

Population outlook (Florence County) Hauer SSP2

• Today (2025): 4,537 people
• By 2030: 4,511 · -0.6%
• By 2040: 4,301 · -5.2%
• By 2050: 3,904 · -14.0%
• By 2075: 3,192 · -29.6%
• By 2100: 2,459 · -45.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2%
• Common ancestry: Romanian 9% Lithuanian 8% Iranian 4%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Florence

• 2024 margin: Solid R (+49.8) · D 24.8% · R 74.6%
• 2008→2024 swing: -35.7pp toward R · 2008: -14.1pp · 2024: -49.8pp
• All cycles: 2024: R+49.8 2020: R+46.0 2016: R+46.4 2012: R+26.4 2008: R+14.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 21.22%
• Current HPI: 210.0264
• 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

+179.3% since first listed

2 events — show timeline

• 2025-10-17 Listed $189,900 RANW
• 2003-04-30 Sold (Public Records) $68,000 Public Records

Property tax history

+1.2%/yr

Latest (2025): $1,862 · +9.3% YoY. Source: county tax records.