10624 W 22 1/2 Rd · Mesick, MI 49668

$59,000

3 bd · 1.0 ba · 916 sqft · SingleFamily · 59 Days on market

Built 1953 0.46 ac lot

---

Why this score? — see what drove the B+ 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.1/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Situated in Mesick, the Mushroom Capital, this property is ideal for an Airbnb, rental, or up-north getaway. Located in the heart of the Manistee National Forest with year-round recreation including snowmobiling, hunting, and fishing. Just 2 minutes from a boat launch and approx. 30 minutes to the beaches of Traverse City, Frankfort, and Honor. The home features a 1953 mobile (10' x 50') with an addition and full roof over, approx. 916 sq ft, offering a small bedroom, additional sleeping room, and larger primary bedroom in the addition, plus 1 full bath, kitchen, dining area, and spacious living room with wood burner. A 24' x 24' pole barn with concrete floor and electric adds storage/workshop space. Sold as-is. CASH ONLY.

Key facts

• Full roof-over
• Pole barn
• Electric

Tags

• PEACEFUL SETTING
• LARGER LOT
• FULL ROOF-OVER
• POLE BARN
• CONCRETE FLOOR
• ELECTRIC

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $59k.

Deal economics

• At list price, monthly cash flow is $516 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).
• Recommended offer: $57k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#532 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A, housing A-; Watch: schools F, crime F, amenities F.
• Mesick Consolidated Schools (rural): math 25% / reading 47% proficiency, ranked #286 of 540 in MI (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 18 active listings in the ZIP; 130 units permitted in Wexford County in 2024 (50 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($408 loan paydown + $6k appreciation (10.0% local appreciation)).
• Wexford County population projected at -15% 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 $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 14y 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 $21k; list at $59k implies a 182% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $57,230 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1953 — 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. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.85% ✓
• Cap rate: 16.79%
• Cash-on-cash: 37.47%
• DSCR: 2.67
• GRM: 4.5

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: 53.1%
• Equity multiple: 4.93×
• Total profit: $64,968
• Equity at exit: $53,152

10-year hold

• IRR: 46.7%
• Equity multiple: 11.01×
• Total profit: $165,441
• Equity at exit: $114,624

Cash invested: $16,520 (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 49668

• Home prices YoY: 27.8%
• Active inventory: 18
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,092 medium
• Mortgage (P&I): −$309
• Tax from tax record: −$13 /mo · $156/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $516

Break-even live

Break-even rent $439

Max offer price $59,000

Occupancy floor 48%

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-07
   statusdays on market $59,000 Pending 59 DOM
2. 2026-06-04
   days on market $59,000 Active 57 DOM
3. 2026-06-02
   days on market $59,000 Active 56 DOM
4. 2026-06-01
   days on market $59,000 Active 55 DOM
5. 2026-05-31
   days on market $59,000 Active 54 DOM
6. 2026-05-31
   days on market $59,000 Active 53 DOM
7. 2026-05-09
   price $59,000 732-char remark

   Show marketing remark (732 chars)

   Situated in Mesick, the Mushroom Capital, this property is ideal for an Airbnb, rental, or up-north getaway. Located in the heart of the Manistee National Forest with year-round recreation including snowmobiling, hunting, and fishing. Just 2 minutes from a boat launch and approx. 30 minutes to the beaches of Traverse City, Frankfort, and Honor. The home features a 1953 mobile (10' x 50') with an addition and full roof over, approx. 916 sq ft, offering a small bedroom, additional sleeping room, and larger primary bedroom in the addition, plus 1 full bath, kitchen, dining area, and spacious living room with wood burner. A 24' x 24' pole barn with concrete floor and electric adds storage/workshop space. Sold as-is. CASH ONLY.

8. 2026-05-08
   price $59,000 732-char remark

   Show marketing remark (732 chars)

   Situated in Mesick, the Mushroom Capital, this property is ideal for an Airbnb, rental, or up-north getaway. Located in the heart of the Manistee National Forest with year-round recreation including snowmobiling, hunting, and fishing. Just 2 minutes from a boat launch and approx. 30 minutes to the beaches of Traverse City, Frankfort, and Honor. The home features a 1953 mobile (10' x 50') with an addition and full roof over, approx. 916 sq ft, offering a small bedroom, additional sleeping room, and larger primary bedroom in the addition, plus 1 full bath, kitchen, dining area, and spacious living room with wood burner. A 24' x 24' pole barn with concrete floor and electric adds storage/workshop space. Sold as-is. CASH ONLY.

9. 2026-05-08
   price $59,000

   Show marketing remark (732 chars)

   Situated in Mesick, the Mushroom Capital, this property is ideal for an Airbnb, rental, or up-north getaway. Located in the heart of the Manistee National Forest with year-round recreation including snowmobiling, hunting, and fishing. Just 2 minutes from a boat launch and approx. 30 minutes to the beaches of Traverse City, Frankfort, and Honor. The home features a 1953 mobile (10' x 50') with an addition and full roof over, approx. 916 sq ft, offering a small bedroom, additional sleeping room, and larger primary bedroom in the addition, plus 1 full bath, kitchen, dining area, and spacious living room with wood burner. A 24' x 24' pole barn with concrete floor and electric adds storage/workshop space. Sold as-is. CASH ONLY.

10. 2026-04-07
    listed $62,000 Active 732-char remark

    Show marketing remark (732 chars)

    Situated in Mesick, the Mushroom Capital, this property is ideal for an Airbnb, rental, or up-north getaway. Located in the heart of the Manistee National Forest with year-round recreation including snowmobiling, hunting, and fishing. Just 2 minutes from a boat launch and approx. 30 minutes to the beaches of Traverse City, Frankfort, and Honor. The home features a 1953 mobile (10' x 50') with an addition and full roof over, approx. 916 sq ft, offering a small bedroom, additional sleeping room, and larger primary bedroom in the addition, plus 1 full bath, kitchen, dining area, and spacious living room with wood burner. A 24' x 24' pole barn with concrete floor and electric adds storage/workshop space. Sold as-is. CASH ONLY.

11. 2026-04-04
    listed $62,000 Active 732-char remark

    Show marketing remark (732 chars)

    Situated in Mesick, the Mushroom Capital, this property is ideal for an Airbnb, rental, or up-north getaway. Located in the heart of the Manistee National Forest with year-round recreation including snowmobiling, hunting, and fishing. Just 2 minutes from a boat launch and approx. 30 minutes to the beaches of Traverse City, Frankfort, and Honor. The home features a 1953 mobile (10' x 50') with an addition and full roof over, approx. 916 sq ft, offering a small bedroom, additional sleeping room, and larger primary bedroom in the addition, plus 1 full bath, kitchen, dining area, and spacious living room with wood burner. A 24' x 24' pole barn with concrete floor and electric adds storage/workshop space. Sold as-is. CASH ONLY.

12. 2026-04-04
    listed $62,000 Active

    Show marketing remark (732 chars)

    Situated in Mesick, the Mushroom Capital, this property is ideal for an Airbnb, rental, or up-north getaway. Located in the heart of the Manistee National Forest with year-round recreation including snowmobiling, hunting, and fishing. Just 2 minutes from a boat launch and approx. 30 minutes to the beaches of Traverse City, Frankfort, and Honor. The home features a 1953 mobile (10' x 50') with an addition and full roof over, approx. 916 sq ft, offering a small bedroom, additional sleeping room, and larger primary bedroom in the addition, plus 1 full bath, kitchen, dining area, and spacious living room with wood burner. A 24' x 24' pole barn with concrete floor and electric adds storage/workshop space. Sold as-is. CASH ONLY.

13. 2014-03-20
    soldstatus $20,900
14. 2013-11-26
    listed $22,900
15. 2012-06-30
    historical
16. 2012-04-22
    listed $34,900
17. 1990-08-17
    soldstatus $12,500

ⓘ 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: $156 · $13/mo
• Projected year-2 tax: $532 · $44/mo
• Expected delta: +$376/yr (+$31/mo · 241.9%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥94°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,106
• − Mortgage interest: −$3,305
• − Property taxes: −$156
• − Insurance: −$295
• − Repairs & maintenance: −$1,048
• − Management: −$1,048
• − Depreciation: −$1,716
• Taxable income: $5,537
• Est. tax owed @ 24.0%: −$1,329
• After-tax cash flow: $4,861/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: Mesick Consolidated Schools
• NCES district ID: 2623670
• Math proficiency: 25% ▼ -3.00%
• Reading proficiency: 47% ▲ 1.00%
• Median HH income: $38,415
• Composite: 29.98/100
• National rank: #6367
• State rank: #286 of 540 in MI

Livability — Mesick

• Score: 62/100
• State rank: #532
• US rank: #16147

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 3,536
• Population (ZIP): 3,536

Population outlook (Wexford County) Hauer SSP2

• Today (2025): 32,399 people
• By 2030: 31,692 · -2.2%
• By 2040: 29,789 · -8.1%
• By 2050: 27,473 · -15.2%
• By 2075: 21,822 · -32.6%
• By 2100: 15,237 · -53.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 7% Hispanic / Latino 4%
• Common ancestry: Romanian 5% Iranian 5% Slovak 3%
• Foreign-born: 1% · Canada

Political lean MEDSL · Wexford

• 2024 margin: Solid R (+34.6) · D 32.0% · R 66.6% · Other 1.5%
• 2008→2024 swing: -30.4pp toward R · 2008: -4.2pp · 2024: -34.6pp
• All cycles: 2024: R+34.6 2020: R+34.3 2016: R+36.4 2012: R+16.3 2008: R+4.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 98.81%
• Current HPI: 454.0901
• 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

+372.0% since first listed

11 events — show timeline

• 2026-05-09 Price Changed $59,000 MiRealSource-MiMLS
• 2026-05-08 Price Changed $59,000 REALCOMP
• 2026-05-08 Price Changed $59,000 SW Michigan MLS
• 2026-04-07 Listed $62,000 REALCOMP
• 2026-04-04 Listed $62,000 SW Michigan MLS
• 2026-04-04 Listed $62,000 MiRealSource-MiMLS
• 2014-03-20 Sold (MLS) $20,900 SW Michigan MLS
• 2013-11-26 Listed $22,900 SW Michigan MLS
• 2012-06-30 Listing Removed — MiRealSource-MiMLS
• 2012-04-22 Listed $34,900 MiRealSource-MiMLS
• 1990-08-17 Sold (Public Records) $12,500 Public Records

Property tax history

-9.2%/yr

Latest (2025): $156 · -53.3% YoY. Source: county tax records.