270 Sheridan Ave · Carp Lake, MI 49953

$95,000

2 bd · 2.0 ba · 980 sqft · SingleFamily · 211 Days on market

Built 1994 0.27 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 +18.2/30.0
• ARV discount +7.5/15.0
• Appreciation +6.4/10.0
• DSCR +5.7/10.0
• 1% rule +4.3/10.0
• Schools +3.2/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

PRICE REDUCED!! Well maintained home in the heart of Silver city, just a few miles from the Porcupine Mountains, and a block away from the snowmobile trails! This home sits on a Large corner lot with room for parking. It is a 2 bedroom 2 full bathroom home with a large Livingroom and neat kitchen area. There is a large deck off the Livingroom perfect for listening to Lake Superior just a short distance away. The detached 2 car garage has been recently finished on the inside and has a new garage door opener. If you are looking for an investment property or a vacation getaway in the middle of all of the recreational opportunities Ontonagon County has to offer. .. . this is it!

Key facts

• 0.27 acre lot
• 2 garage spots
• Built 1994

Property features AI

Finance

• Other: No pet restrictions; Zoned residential; Lot acreage: 0.27 acres

Exterior

• Parking: Detached 2-car garage; Additional outbuilding: garage(s)
• Utilities: 100 Amp electric service; Cable available; Electricity connected; Natural gas connected; Gas water heater; Private well water; Septic sewer
• Home design: Single-wide manufactured home; 1 story; Built in 1994
• Construction: Aluminum and vinyl siding exterior; Crawl foundation
• Exterior features: Deck; Corner lot; Road frontage

Interior

• Kitchen: Kitchen on main level (12 x 10); Dishwasher; Range/Oven; Refrigerator
• Bedrooms: First-floor bedrooms (Main level) — Bedroom 1: 15 x 12; Bedroom 2: 10 x 7
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Forced air heating; No central air / cooling
• Interior features: 6 total rooms; Living room on main level (12 x 13); Basement: other
• Laundry & utility: First-floor laundry; Washer included

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $86 ($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 $88k (7.3% below list).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 58/100 on livability (#635 in MI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: health & safety D+, schools F, crime D-.
• Ontonagon Area School District (rural): math 25% / reading 45% proficiency, ranked #474 of 760 in MI (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 33 active listings in the ZIP; 13 units permitted in Ontonagon County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($657 loan paydown + $3k appreciation (2.7% local appreciation)).
• Ontonagon County population projected at -63% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.7% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 211 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y ago; this cycle's ask has dropped $40k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $82k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $83,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 211 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 D 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: 0.93% ✗
• Cap rate: 7.38%
• Cash-on-cash: 3.87%
• DSCR: 1.17
• GRM: 9.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.71% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.3%
• Equity multiple: 1.58×
• Total profit: $15,469
• Equity at exit: $41,199

10-year hold

• IRR: 12.8%
• Equity multiple: 2.85×
• Total profit: $49,194
• Equity at exit: $62,337

Cash invested: $26,600 (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 49953

• Home prices YoY: 1.6%
• Active inventory: 33
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $880 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$72 /mo · $863/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$185
• Net cashflow: $86

Break-even live

Break-even rent $772

Max offer price $95,000

Occupancy floor 85%

Sensitivity live

Price	-10% $140	-5% $113	+0% $86	+5% $59	+10% $32
Rent	-10% $16	-5% $51	+0% $86	+5% $121	+10% $155
Rate	-1.0pp $134	-0.5pp $110	base $86	+0.5pp $61	+1.0pp $36

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Listing history 35 events

1. 2026-06-21
   days on market $95,000 Active 211 DOM
2. 2026-06-18
   days on market $95,000 Active 209 DOM
3. 2026-06-17
   days on market $95,000 Active 208 DOM
4. 2026-06-16
   days on market $95,000 Active 207 DOM
5. 2026-06-15
   days on market $95,000 Active 206 DOM
6. 2026-06-13
   days on market $95,000 Active 204 DOM
7. 2026-06-12
   pricedays on market $95,000 Active 203 DOM
8. 2026-06-09
   days on market $104,000 Active 200 DOM
9. 2026-06-08
   days on market $104,000 Active 199 DOM
10. 2026-06-07
    days on market $104,000 Active 198 DOM
11. 2026-06-07
    days on market $104,000 Active 197 DOM
12. 2026-06-04
    days on market $104,000 Active 194 DOM
13. 2026-06-02
    days on market $104,000 Active 193 DOM
14. 2026-06-01
    days on market $104,000 Active 192 DOM
15. 2026-05-31
    days on market $104,000 Active 191 DOM
16. 2026-05-31
    days on market $104,000 Active 190 DOM
17. 2026-05-20
    price $104,000 684-char remark

    Show marketing remark (684 chars)

    PRICE REDUCED!! Well maintained home in the heart of Silver city, just a few miles from the Porcupine Mountains, and a block away from the snowmobile trails! This home sits on a Large corner lot with room for parking. It is a 2 bedroom 2 full bathroom home with a large Livingroom and neat kitchen area. There is a large deck off the Livingroom perfect for listening to Lake Superior just a short distance away. The detached 2 car garage has been recently finished on the inside and has a new garage door opener. If you are looking for an investment property or a vacation getaway in the middle of all of the recreational opportunities Ontonagon County has to offer. .. . this is it!

18. 2026-05-19
    price $104,000 684-char remark

    Show marketing remark (684 chars)

    PRICE REDUCED!! Well maintained home in the heart of Silver city, just a few miles from the Porcupine Mountains, and a block away from the snowmobile trails! This home sits on a Large corner lot with room for parking. It is a 2 bedroom 2 full bathroom home with a large Livingroom and neat kitchen area. There is a large deck off the Livingroom perfect for listening to Lake Superior just a short distance away. The detached 2 car garage has been recently finished on the inside and has a new garage door opener. If you are looking for an investment property or a vacation getaway in the middle of all of the recreational opportunities Ontonagon County has to offer. .. . this is it!

19. 2026-04-21
    price $109,900 684-char remark

    Show marketing remark (684 chars)

    PRICE REDUCED!! Well maintained home in the heart of Silver city, just a few miles from the Porcupine Mountains, and a block away from the snowmobile trails! This home sits on a Large corner lot with room for parking. It is a 2 bedroom 2 full bathroom home with a large Livingroom and neat kitchen area. There is a large deck off the Livingroom perfect for listening to Lake Superior just a short distance away. The detached 2 car garage has been recently finished on the inside and has a new garage door opener. If you are looking for an investment property or a vacation getaway in the middle of all of the recreational opportunities Ontonagon County has to offer. .. . this is it!

20. 2026-04-20
    price $109,900 684-char remark

    Show marketing remark (684 chars)

    PRICE REDUCED!! Well maintained home in the heart of Silver city, just a few miles from the Porcupine Mountains, and a block away from the snowmobile trails! This home sits on a Large corner lot with room for parking. It is a 2 bedroom 2 full bathroom home with a large Livingroom and neat kitchen area. There is a large deck off the Livingroom perfect for listening to Lake Superior just a short distance away. The detached 2 car garage has been recently finished on the inside and has a new garage door opener. If you are looking for an investment property or a vacation getaway in the middle of all of the recreational opportunities Ontonagon County has to offer. .. . this is it!

21. 2026-01-26
    price $115,000 684-char remark

    Show marketing remark (684 chars)

    PRICE REDUCED!! Well maintained home in the heart of Silver city, just a few miles from the Porcupine Mountains, and a block away from the snowmobile trails! This home sits on a Large corner lot with room for parking. It is a 2 bedroom 2 full bathroom home with a large Livingroom and neat kitchen area. There is a large deck off the Livingroom perfect for listening to Lake Superior just a short distance away. The detached 2 car garage has been recently finished on the inside and has a new garage door opener. If you are looking for an investment property or a vacation getaway in the middle of all of the recreational opportunities Ontonagon County has to offer. .. . this is it!

22. 2026-01-26
    price $115,000 684-char remark

    Show marketing remark (684 chars)

    PRICE REDUCED!! Well maintained home in the heart of Silver city, just a few miles from the Porcupine Mountains, and a block away from the snowmobile trails! This home sits on a Large corner lot with room for parking. It is a 2 bedroom 2 full bathroom home with a large Livingroom and neat kitchen area. There is a large deck off the Livingroom perfect for listening to Lake Superior just a short distance away. The detached 2 car garage has been recently finished on the inside and has a new garage door opener. If you are looking for an investment property or a vacation getaway in the middle of all of the recreational opportunities Ontonagon County has to offer. .. . this is it!

23. 2026-01-07
    price $124,900 684-char remark

    Show marketing remark (684 chars)

    PRICE REDUCED!! Well maintained home in the heart of Silver city, just a few miles from the Porcupine Mountains, and a block away from the snowmobile trails! This home sits on a Large corner lot with room for parking. It is a 2 bedroom 2 full bathroom home with a large Livingroom and neat kitchen area. There is a large deck off the Livingroom perfect for listening to Lake Superior just a short distance away. The detached 2 car garage has been recently finished on the inside and has a new garage door opener. If you are looking for an investment property or a vacation getaway in the middle of all of the recreational opportunities Ontonagon County has to offer. .. . this is it!

24. 2026-01-07
    price $124,900 684-char remark

    Show marketing remark (684 chars)

    PRICE REDUCED!! Well maintained home in the heart of Silver city, just a few miles from the Porcupine Mountains, and a block away from the snowmobile trails! This home sits on a Large corner lot with room for parking. It is a 2 bedroom 2 full bathroom home with a large Livingroom and neat kitchen area. There is a large deck off the Livingroom perfect for listening to Lake Superior just a short distance away. The detached 2 car garage has been recently finished on the inside and has a new garage door opener. If you are looking for an investment property or a vacation getaway in the middle of all of the recreational opportunities Ontonagon County has to offer. .. . this is it!

25. 2025-12-23
    price $128,000 684-char remark

    Show marketing remark (684 chars)

    PRICE REDUCED!! Well maintained home in the heart of Silver city, just a few miles from the Porcupine Mountains, and a block away from the snowmobile trails! This home sits on a Large corner lot with room for parking. It is a 2 bedroom 2 full bathroom home with a large Livingroom and neat kitchen area. There is a large deck off the Livingroom perfect for listening to Lake Superior just a short distance away. The detached 2 car garage has been recently finished on the inside and has a new garage door opener. If you are looking for an investment property or a vacation getaway in the middle of all of the recreational opportunities Ontonagon County has to offer. .. . this is it!

26. 2025-12-23
    price $128,000 684-char remark

    Show marketing remark (684 chars)

    PRICE REDUCED!! Well maintained home in the heart of Silver city, just a few miles from the Porcupine Mountains, and a block away from the snowmobile trails! This home sits on a Large corner lot with room for parking. It is a 2 bedroom 2 full bathroom home with a large Livingroom and neat kitchen area. There is a large deck off the Livingroom perfect for listening to Lake Superior just a short distance away. The detached 2 car garage has been recently finished on the inside and has a new garage door opener. If you are looking for an investment property or a vacation getaway in the middle of all of the recreational opportunities Ontonagon County has to offer. .. . this is it!

27. 2025-11-21
    listed $135,000 Active 684-char remark

    Show marketing remark (684 chars)

    PRICE REDUCED!! Well maintained home in the heart of Silver city, just a few miles from the Porcupine Mountains, and a block away from the snowmobile trails! This home sits on a Large corner lot with room for parking. It is a 2 bedroom 2 full bathroom home with a large Livingroom and neat kitchen area. There is a large deck off the Livingroom perfect for listening to Lake Superior just a short distance away. The detached 2 car garage has been recently finished on the inside and has a new garage door opener. If you are looking for an investment property or a vacation getaway in the middle of all of the recreational opportunities Ontonagon County has to offer. .. . this is it!

28. 2025-11-21
    listed $135,000 Active 684-char remark

    Show marketing remark (684 chars)

    PRICE REDUCED!! Well maintained home in the heart of Silver city, just a few miles from the Porcupine Mountains, and a block away from the snowmobile trails! This home sits on a Large corner lot with room for parking. It is a 2 bedroom 2 full bathroom home with a large Livingroom and neat kitchen area. There is a large deck off the Livingroom perfect for listening to Lake Superior just a short distance away. The detached 2 car garage has been recently finished on the inside and has a new garage door opener. If you are looking for an investment property or a vacation getaway in the middle of all of the recreational opportunities Ontonagon County has to offer. .. . this is it!

29. 2022-10-12
    soldstatus $82,000 678-char remark

    Show marketing remark (678 chars)

    Cozy, 2-bedroom, 2 bath mobile home located at the foothills of the majestic Porcupine Mountains and just a short walk to the shores of beautiful Lake Superior. This little gem is so affordable with minimal overhead . .. private well, septic, natural gas and very reasonable property taxes makes this property a wonderful getaway from city life whether it's for the weekend or year-round. Detached 2 car garage provides plenty of storage for everything you need to enjoy four seasons of recreational activities . .. snowmobiling, skiing, hiking, fishing, swimming, boating, etc. There's plenty to do in this charming little community. Call for a viewing before this one is gone.

30. 2022-10-12
    soldstatus $82,000 678-char remark

    Show marketing remark (678 chars)

    Cozy, 2-bedroom, 2 bath mobile home located at the foothills of the majestic Porcupine Mountains and just a short walk to the shores of beautiful Lake Superior. This little gem is so affordable with minimal overhead . .. private well, septic, natural gas and very reasonable property taxes makes this property a wonderful getaway from city life whether it's for the weekend or year-round. Detached 2 car garage provides plenty of storage for everything you need to enjoy four seasons of recreational activities . .. snowmobiling, skiing, hiking, fishing, swimming, boating, etc. There's plenty to do in this charming little community. Call for a viewing before this one is gone.

31. 2022-08-11
    listed $84,900 678-char remark

    Show marketing remark (678 chars)

    Cozy, 2-bedroom, 2 bath mobile home located at the foothills of the majestic Porcupine Mountains and just a short walk to the shores of beautiful Lake Superior. This little gem is so affordable with minimal overhead . .. private well, septic, natural gas and very reasonable property taxes makes this property a wonderful getaway from city life whether it's for the weekend or year-round. Detached 2 car garage provides plenty of storage for everything you need to enjoy four seasons of recreational activities . .. snowmobiling, skiing, hiking, fishing, swimming, boating, etc. There's plenty to do in this charming little community. Call for a viewing before this one is gone.

32. 2022-08-11
    listed $84,900 678-char remark

    Show marketing remark (678 chars)

    Cozy, 2-bedroom, 2 bath mobile home located at the foothills of the majestic Porcupine Mountains and just a short walk to the shores of beautiful Lake Superior. This little gem is so affordable with minimal overhead . .. private well, septic, natural gas and very reasonable property taxes makes this property a wonderful getaway from city life whether it's for the weekend or year-round. Detached 2 car garage provides plenty of storage for everything you need to enjoy four seasons of recreational activities . .. snowmobiling, skiing, hiking, fishing, swimming, boating, etc. There's plenty to do in this charming little community. Call for a viewing before this one is gone.

33. 2022-07-19
    historical
34. 2022-06-19
    listed $103,000
35. 2005-07-08
    soldstatus $38,500

ⓘ 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: $863 · $72/mo
• Projected year-2 tax: $1,163 · $97/mo
• Expected delta: +$300/yr (+$25/mo · 34.8%)

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

Taxation est. · year 1

• Rental income: $10,564
• − Mortgage interest: −$5,321
• − Property taxes: −$863
• − Insurance: −$475
• − Repairs & maintenance: −$845
• − Management: −$845
• − Depreciation: −$2,764
• Taxable loss: −$549
• Est. tax savings @ 24.0%: +$132
• After-tax cash flow: $1,162/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: Ontonagon Area School District
• NCES district ID: 2626550
• Math proficiency: 25% ▬ 0.00%
• Reading proficiency: 45% ▲ 10.00%
• Median HH income: $34,991
• Composite: 31.51/100
• National rank: #11170
• State rank: #474 of 760 in MI

Livability — Carp Lake

• Score: 58/100
• State rank: #635
• US rank: #21375

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,261

Population outlook (Ontonagon County) Hauer SSP2

• Today (2025): 4,621 people
• By 2030: 3,928 · -15.0%
• By 2040: 2,644 · -42.8%
• By 2050: 1,696 · -63.3%
• By 2075: 874 · -81.1%
• By 2100: 697 · -84.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Black 2%
• Common ancestry: Romanian 9% Lithuanian 5% Portuguese 4%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 0%

Political lean MEDSL · Ontonagon

• 2024 margin: Solid R (+30.4) · D 34.2% · R 64.5% · Other 1.3%
• 2008→2024 swing: -34.0pp toward R · 2008: 3.7pp · 2024: -30.4pp
• All cycles: 2024: R+30.4 2020: R+25.4 2016: R+26.1 2012: R+9.1 2008: D+3.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.71%
• Current HPI: 171.0458
• 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

+170.1% since first listed

19 events — show timeline

• 2026-05-20 Price Changed $104,000 MiRealSource-MiMLS
• 2026-05-19 Price Changed $104,000 UPAR
• 2026-04-21 Price Changed $109,900 MiRealSource-MiMLS
• 2026-04-20 Price Changed $109,900 UPAR
• 2026-01-26 Price Changed $115,000 MiRealSource-MiMLS
• 2026-01-26 Price Changed $115,000 UPAR
• 2026-01-07 Price Changed $124,900 MiRealSource-MiMLS
• 2026-01-07 Price Changed $124,900 UPAR
• 2025-12-23 Price Changed $128,000 MiRealSource-MiMLS
• 2025-12-23 Price Changed $128,000 UPAR
• 2025-11-21 Listed $135,000 UPAR
• 2025-11-21 Listed $135,000 MiRealSource-MiMLS
• 2022-10-12 Sold (MLS) $82,000 UPAR
• 2022-10-12 Sold (MLS) $82,000 MiRealSource-MiMLS
• 2022-08-11 Listed $84,900 UPAR
• 2022-08-11 Listed $84,900 MiRealSource-MiMLS
• 2022-07-19 Listing Removed — MiRealSource-MiMLS
• 2022-06-19 Listed $103,000 MiRealSource-MiMLS
• 2005-07-08 Sold (Public Records) $38,500 Public Records

Property tax history

+3.3%/yr

Latest (2025): $863 · -22.0% YoY. Source: county tax records.