20956 Fewins Rd · Bendon, MI 49643

$106,000

3 bd · 2.0 ba · 1,080 sqft · SingleFamily public records · 7 Days on market

Built 1996 2.50 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 +27.2/30.0
• DSCR +9.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Schools +3.3/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for a project with potential? This HUD-owned property offers a rare opportunity to build equity and create your vision. Situated on 2.5 acres just 10 miles from beautiful Traverse City, this property features a spacious setting with a nice backyard, storage shed, and plenty of room to enjoy country living while remaining close to shopping, dining, recreation, and all that Northern Michigan has to offer. The home offers 3 bedrooms and 2 bathrooms, providing a solid foundation for renovation and improvement. Please note that the property is in rough condition and will require significant repairs and updates. Ideal for investors, contractors, or buyers seeking a renovation project.

Key facts

• Close to recreation
• Storage shed
• 2.5 acres

Tags

• 2.5 ACRES
• STORAGE SHED
• NICE BACKYARD
• CLOSE TO SHOPPING
• CLOSE TO DINING
• CLOSE TO RECREATION

Property features AI

Exterior

• Utilities: Private well water; Septic tank sewer
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Shallow crawl space foundation; Above-grade living area about 1,079 square feet
• Exterior features: Shed(s) on the property; Lot dimensions approximately 250 x 330 x 241 x 330; Approximately 2.5 acres

Interior

• Kitchen: Includes oven, range, refrigerator, dishwasher not listed
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating powered by natural gas; No central cooling
• Interior features: Dryer, Oven, Refrigerator, Range, Washer; Crawl space basement
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $106k.

Deal economics

• At list price, monthly cash flow is $302 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $106k).

Location & tenants

• Location reads 53/100 on livability (#680 in MI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: housing C-, schools F, crime F.
• Benzie County Central Schools (rural): math 33% / reading 44% proficiency, ranked #234 of 540 in MI (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 52 active listings in the ZIP; 110 units permitted in Benzie County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $733 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Benzie County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $30k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 20y 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 $90k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $106,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.13% ✓
• Cap rate: 9.71%
• Cash-on-cash: 12.22%
• DSCR: 1.54
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $268,920
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11877 Smokey Trl	0.16mi	3/1.0	1,140 (+6%)	16mo	$284,000	$249	66
1351 N Betsie River Rd	0.43mi	3/1.0	1,120 (+4%)	10mo	$235,000	$210	61

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: 1.8%
• Equity multiple: 1.07×
• Total profit: $2,028
• Equity at exit: $15,805

10-year hold

• IRR: 11.4%
• Equity multiple: 1.89×
• Total profit: $26,391
• Equity at exit: $9,165

Cash invested: $29,680 (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 49643

• Home prices YoY: -11.3%
• Active inventory: 52
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,195 medium
• Mortgage (P&I): −$556
• Tax from tax record: −$42 /mo · $499/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $302

Break-even live

Break-even rent $812

Max offer price $106,000

Occupancy floor 70%

Sensitivity live

Price	-10% $362	-5% $332	+0% $302	+5% $272	+10% $242
Rent	-10% $208	-5% $255	+0% $302	+5% $349	+10% $397
Rate	-1.0pp $356	-0.5pp $329	base $302	+0.5pp $275	+1.0pp $247

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: $26,500
• Closing costs: $3,180
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-16
   status $106,000 Pending 7 DOM
2. 2026-06-15
   days on market $106,000 Active 7 DOM
3. 2026-06-14
   days on market $106,000 Active 5 DOM
4. 2026-06-12
   days on market $106,000 Active 4 DOM
5. 2026-06-09
   remarks 695-char remark
6. 2026-06-09
   listed $106,000 Active 1 DOM

ⓘ 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: $499 · $42/mo
• Projected year-2 tax: $1,066 · $89/mo
• Expected delta: +$567/yr (+$47/mo · 113.5%)

ⓘ 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 ≥93°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: $14,336
• − Mortgage interest: −$5,938
• − Property taxes: −$499
• − Insurance: −$530
• − Repairs & maintenance: −$1,147
• − Management: −$1,147
• − Depreciation: −$3,084
• Taxable income: $1,992
• Est. tax owed @ 24.0%: −$478
• After-tax cash flow: $3,148/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: Benzie County Central Schools
• NCES district ID: 2604950
• Math proficiency: 33% ▼ -2.00%
• Reading proficiency: 44% ▼ -2.00%
• Median HH income: $46,158
• Composite: 32.84/100
• National rank: #5616
• State rank: #234 of 540 in MI

Livability — Bendon

• Score: 53/100
• State rank: #680
• US rank: #24665

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 7,486
• Population (ZIP): 7,486

Population outlook (Benzie County) Hauer SSP2

• Today (2025): 17,179 people
• By 2030: 16,774 · -2.4%
• By 2040: 15,308 · -10.9%
• By 2050: 13,594 · -20.9%
• By 2075: 11,015 · -35.9%
• By 2100: 8,181 · -52.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Slovak 8% Romanian 7% Lithuanian 5%
• Foreign-born: 2% · Canada, China
• Languages at home: 97% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Benzie

• 2024 margin: Lean R (+8.7) · D 45.0% · R 53.7% · Other 1.3%
• 2008→2024 swing: -16.1pp toward R · 2008: 7.4pp · 2024: -8.7pp
• All cycles: 2024: R+8.7 2020: R+9.1 2016: R+14.0 2012: R+3.9 2008: D+7.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -52.44%
• Current HPI: 412.1836
• 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

+11.7% since first listed

17 events — show timeline

• 2026-06-08 Listed $106,000 REALCOMP
• 2026-06-07 Listed $106,000 MiRealSource-MiMLS
• 2016-04-18 Sold (Public Records) $89,999 Public Records
• 2016-04-11 Sold (MLS) $89,999 REALCOMP
• 2016-04-11 Sold (MLS) $89,999 MiRealSource-MiMLS
• 2016-01-30 Listed $89,999 REALCOMP
• 2016-01-30 Listed $89,999 MiRealSource-MiMLS
• 2016-01-18 Listing Removed — MiRealSource-MiMLS
• 2016-01-18 Listing Removed — REALCOMP
• 2015-11-10 Listed $89,999 MiRealSource-MiMLS
• 2015-11-10 Listed $89,999 REALCOMP
• 2009-11-10 Sold (MLS) $46,500 SW Michigan MLS
• 2009-08-04 Listed $52,000 SW Michigan MLS
• 2008-12-31 Listing Removed — MiRealSource-MiMLS
• 2008-05-27 Listed $69,900 MiRealSource-MiMLS
• 2006-07-13 Listing Removed — MiRealSource-MiMLS
• 2006-01-30 Listed $94,900 MiRealSource-MiMLS

Property tax history

-44.2%/yr

Latest (2025): $499 · -78.2% YoY. Source: county tax records.