4113 N Shore Dr · Menominee, MI 49858

$139,900

2 bd · 1.0 ba · 1,353 sqft · SingleFamily public records · 60 Days on market

Built 1902 0.34 ac lot $103/sqft · at area comps Est $140k · at est.

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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).

• Cash flow +17.3/30.0
• ARV discount +7.7/15.0
• DSCR +5.4/10.0
• Livability +3.6/5.0
• 1% rule +3.3/10.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Menominee city ranch home with 3 bedrooms, 1 bath featuring 1,353 square feet. Great location offering a larger lot, .34 acres, with detached garage (24x24), concrete driveway and alley access to garage. Updates include furnace, garage roof and hot water heater. Occupancy permit complete and property qualifies for all loan types. Property includes 3 apple trees. Central air.

Key facts

• Alley access
• Larger lot
• Detached garage

Tags

• LARGER LOT
• DETACHED GARAGE
• CONCRETE DRIVEWAY
• ALLEY ACCESS
• UPDATES INCLUDE FURNACE
• UPDATES INCLUDE GARAGE ROOF

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $102 ($1k/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 $116k (16.8% below list).
• Recommended offer: $116k (16.8% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 4.0% in Menominee — 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 71/100 on livability (#282 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, amenities F, commute F.
• Menominee Area Public Schools (town): math 26% / reading 42% proficiency, ranked #312 of 540 in MI (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 64 active listings in the ZIP; 26 units permitted in Menominee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Menominee County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $56k; list at $140k implies a 148% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1902 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $116,466 (16.8% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
2. Built in 1902 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.83% ✗
• Cap rate: 7.17%
• Cash-on-cash: 3.12%
• DSCR: 1.14
• GRM: 10.0

CMA / ARV

• ARV (median comp): $140,454
• List price: $139,900
• Delta: -0.39%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4020 North Shore Dr	0.09mi	3/1.5 (+1)	1,290 (-5%)	19mo	$124,900	$97	65
4200 N Shore Dr	0.11mi	3/1.0 (+1)	1,464 (+8%)	23mo	$79,900	$55	57
4000 13th St	0.42mi	3/1.0 (+1)	1,500 (+11%)	2mo	$219,000	$146	56
4012 13th St	0.42mi	2/1.0	1,200 (-11%)	8mo	$157,900	$132	55
3308 13th St	0.67mi	3/2.5 (+1)	1,358 (+0%)	4mo	$152,000	$112	54
4305 6th St	0.22mi	3/1.0 (+1)	1,228 (-9%)	20mo	$189,900	$155	53
3420 12th St	0.55mi	3/1.0 (+1)	1,250 (-8%)	6mo	$110,000	$88	52
3709 15th St	0.63mi	1/1.0 (-1)	1,215 (-10%)	6mo	$92,000	$76	44
N946 Us 41	0.69mi	3/1.0 (+1)	1,271 (-6%)	15mo	$149,900	$118	40
1511 38th Ave	0.65mi	2/2.0	1,212 (-10%)	14mo	$200,000	$165	36
3308 14th St	0.71mi	2/1.0	1,555 (+15%)	23mo	$153,000	$98	23

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: -11.4%
• Equity multiple: 0.59×
• Total profit: $-16,249
• Equity at exit: $20,860

10-year hold

• IRR: -2.3%
• Equity multiple: 0.84×
• Total profit: $-6,086
• Equity at exit: $12,096

Cash invested: $39,172 (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 49858

• Home prices YoY: -31.4%
• Active inventory: 64
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,165 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$26 /mo · $314/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $102

Break-even live

Break-even rent $1,036

Max offer price $139,900

Occupancy floor 86%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-05-18
   status Pending 377-char remark

   Show marketing remark (377 chars)

   Menominee city ranch home with 3 bedrooms, 1 bath featuring 1,353 square feet. Great location offering a larger lot, .34 acres, with detached garage (24x24), concrete driveway and alley access to garage. Updates include furnace, garage roof and hot water heater. Occupancy permit complete and property qualifies for all loan types. Property includes 3 apple trees. Central air.

2. 2026-05-18
   status Pending 377-char remark

   Show marketing remark (377 chars)

   Menominee city ranch home with 3 bedrooms, 1 bath featuring 1,353 square feet. Great location offering a larger lot, .34 acres, with detached garage (24x24), concrete driveway and alley access to garage. Updates include furnace, garage roof and hot water heater. Occupancy permit complete and property qualifies for all loan types. Property includes 3 apple trees. Central air.

3. 2026-05-18
   status Pending 377-char remark

   Show marketing remark (377 chars)

   Menominee city ranch home with 3 bedrooms, 1 bath featuring 1,353 square feet. Great location offering a larger lot, .34 acres, with detached garage (24x24), concrete driveway and alley access to garage. Updates include furnace, garage roof and hot water heater. Occupancy permit complete and property qualifies for all loan types. Property includes 3 apple trees. Central air.

4. 2026-04-22
   price $139,900 377-char remark

   Show marketing remark (377 chars)

   Menominee city ranch home with 3 bedrooms, 1 bath featuring 1,353 square feet. Great location offering a larger lot, .34 acres, with detached garage (24x24), concrete driveway and alley access to garage. Updates include furnace, garage roof and hot water heater. Occupancy permit complete and property qualifies for all loan types. Property includes 3 apple trees. Central air.

5. 2026-04-21
   price $139,900 377-char remark

   Show marketing remark (377 chars)

   Menominee city ranch home with 3 bedrooms, 1 bath featuring 1,353 square feet. Great location offering a larger lot, .34 acres, with detached garage (24x24), concrete driveway and alley access to garage. Updates include furnace, garage roof and hot water heater. Occupancy permit complete and property qualifies for all loan types. Property includes 3 apple trees. Central air.

6. 2026-04-21
   price $139,900 377-char remark

   Show marketing remark (377 chars)

   Menominee city ranch home with 3 bedrooms, 1 bath featuring 1,353 square feet. Great location offering a larger lot, .34 acres, with detached garage (24x24), concrete driveway and alley access to garage. Updates include furnace, garage roof and hot water heater. Occupancy permit complete and property qualifies for all loan types. Property includes 3 apple trees. Central air.

7. 2026-03-18
   listed $149,900 Active 377-char remark

   Show marketing remark (377 chars)

   Menominee city ranch home with 3 bedrooms, 1 bath featuring 1,353 square feet. Great location offering a larger lot, .34 acres, with detached garage (24x24), concrete driveway and alley access to garage. Updates include furnace, garage roof and hot water heater. Occupancy permit complete and property qualifies for all loan types. Property includes 3 apple trees. Central air.

8. 2026-03-18
   listed $149,900 Active 377-char remark

   Show marketing remark (377 chars)

   Menominee city ranch home with 3 bedrooms, 1 bath featuring 1,353 square feet. Great location offering a larger lot, .34 acres, with detached garage (24x24), concrete driveway and alley access to garage. Updates include furnace, garage roof and hot water heater. Occupancy permit complete and property qualifies for all loan types. Property includes 3 apple trees. Central air.

9. 2026-03-18
   listed $149,900 Active 377-char remark

   Show marketing remark (377 chars)

   Menominee city ranch home with 3 bedrooms, 1 bath featuring 1,353 square feet. Great location offering a larger lot, .34 acres, with detached garage (24x24), concrete driveway and alley access to garage. Updates include furnace, garage roof and hot water heater. Occupancy permit complete and property qualifies for all loan types. Property includes 3 apple trees. Central air.

10. 2006-12-29
    soldstatus $56,400

ⓘ 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: $314 · $26/mo
• Projected year-2 tax: $1,234 · $103/mo
• Expected delta: +$920/yr (+$77/mo · 293.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥93°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,976
• − Mortgage interest: −$7,837
• − Property taxes: −$314
• − Insurance: −$700
• − Repairs & maintenance: −$1,118
• − Management: −$1,118
• − Depreciation: −$4,070
• Taxable loss: −$1,180
• Est. tax savings @ 24.0%: +$283
• After-tax cash flow: $1,507/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: Menominee Area Public Schools
• NCES district ID: 2623550
• Math proficiency: 26% ▼ -6.00%
• Reading proficiency: 42% ▼ -3.00%
• Median HH income: $41,809
• Composite: 28.68/100
• National rank: #6694
• State rank: #312 of 540 in MI

Livability — Menominee

• Score: 71/100
• State rank: #282
• US rank: #6909

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Menominee, MI
• Population (ZIP): 11,870

Population outlook (Menominee County) Hauer SSP2

• Today (2025): 22,668 people
• By 2030: 21,986 · -3.0%
• By 2040: 20,196 · -10.9%
• By 2050: 18,335 · -19.1%
• By 2075: 14,771 · -34.8%
• By 2100: 10,999 · -51.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Lithuanian 8% Romanian 7% Portuguese 4%
• Foreign-born: 2% · Canada
• Languages at home: 99% English-only · French/Haitian/Cajun 1%

Political lean MEDSL · Menominee

• 2024 margin: Solid R (+33.6) · D 32.6% · R 66.2% · Other 1.2%
• 2008→2024 swing: -43.8pp toward R · 2008: 10.2pp · 2024: -33.6pp
• All cycles: 2024: R+33.6 2020: R+30.1 2016: R+29.4 2012: R+2.9 2008: D+10.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -94.34%
• Current HPI: 206.2461
• 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

+148.0% since first listed

10 events — show timeline

• 2026-05-18 Pending — RANW
• 2026-05-18 Pending — UPAR
• 2026-05-18 Pending — MiRealSource-MiMLS
• 2026-04-22 Price Changed $139,900 MiRealSource-MiMLS
• 2026-04-21 Price Changed $139,900 RANW
• 2026-04-21 Price Changed $139,900 UPAR
• 2026-03-18 Listed $149,900 MiRealSource-MiMLS
• 2026-03-18 Listed $149,900 UPAR
• 2026-03-18 Listed $149,900 RANW
• 2006-12-29 Sold (Public Records) $56,400 Public Records