3063 Gratiot Rd · Indian River, MI 49749

$129,900

2 bd · 1.0 ba · 1,613 sqft · SingleFamily · 28 Days on market

Built 1974 9,583 sqft lot $81/sqft · 67% below area

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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 +17.0/30.0
• ARV discount +7.5/15.0
• DSCR +5.3/10.0
• 1% rule +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

In the Village of Indian River this spacious turnkey updated mobile home features a desirable split floor plan with bedrooms on each end for added privacy. Enjoy the generous addition and deck off the door wall overlooking the backyard -- perfect for relaxing or entertaining. Garage has been converted into two separate spaces currently. Centrally located just minutes from Indian River, with access to two nearby town boat launches on Indian River Inland Waterway, Green docks for swimming or Devoe beach for swimming, local amenities, and convenient access to Interstate I-75. Great for year round living or Up North cottage retreat.

Key facts

• Split floor plan
• Converted garage
• Generous addition

Tags

• SPLIT FLOOR PLAN
• GENEROUS ADDITION
• DECK OVERLOOKING BACKYARD
• CONVERTED GARAGE
• ACCESS TO BOAT LAUNCHES
• LOCAL AMENITIES

Property features AI

Exterior

• Parking: Attached heated garage; 1.5 garage spaces
• Utilities: Well water; Septic tank
• Home design: Single family residence; Residential property
• Construction: Built as a single-family home
• Exterior features: Deck; Paved road access

Interior

• Kitchen: Oven; Range
• Flooring: Simulated wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Ceiling fan(s) for cooling
• Interior features: Blinds; Crawl space
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $88 ($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 $108k (16.9% below list).
• Recommended offer: $108k (16.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#484 in MI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: employment C-, amenities F, commute F.
• Inland Lakes Schools (rural): math 23% / reading 34% proficiency, ranked #382 of 540 in MI (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Inland Lakes Elementary School (math 22% / reading 22%, grade F, #1,035 of 1,397 statewide, top 77%, 297 students, 72% FRL); Inland Lakes Secondary School (math 22% / reading 42%, grade F, #405 of 713 statewide, top 59%, 324 students, 64% FRL) — zoned schools average 68% FRL vs 48% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 67 active listings in the ZIP; 78 units permitted in Cheboygan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Cheboygan County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.

Recommended offer $107,974 (16.9% below list)

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 7.10%
• Cash-on-cash: 2.89%
• DSCR: 1.13
• GRM: 10.0

CMA / ARV

• ARV (median comp): $390,491
• List price: $129,900
• Delta: -66.73%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3739 Club Rd	0.68mi	2/2.0	1,724 (+7%)	7mo	$385,000	$223	47

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: -11.8%
• Equity multiple: 0.57×
• Total profit: $-15,537
• Equity at exit: $19,369

10-year hold

• IRR: -2.7%
• Equity multiple: 0.82×
• Total profit: $-6,612
• Equity at exit: $11,231

Cash invested: $36,372 (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 49749

• Active inventory: 67
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,080 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$30 /mo · $361/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $88

Break-even live

Break-even rent $969

Max offer price $129,900

Occupancy floor 87%

Sensitivity live

Price	-10% $161	-5% $124	+0% $88	+5% $51	+10% $14
Rent	-10% $2	-5% $45	+0% $88	+5% $130	+10% $173
Rate	-1.0pp $153	-0.5pp $121	base $88	+0.5pp $54	+1.0pp $20

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-13
   status $129,900 Pending 28 DOM
2. 2026-06-12
   days on market $129,900 Active Under Contract 28 DOM
3. 2026-06-09
   days on market $129,900 Active Under Contract 25 DOM
4. 2026-06-08
   days on market $129,900 Active Under Contract 24 DOM
5. 2026-06-07
   days on market $129,900 Active Under Contract 23 DOM
6. 2026-06-07
   days on market $129,900 Active Under Contract 22 DOM
7. 2026-06-04
   days on market $129,900 Active Under Contract 19 DOM
8. 2026-06-02
   days on market $129,900 Active Under Contract 18 DOM
9. 2026-06-01
   days on market $129,900 Active Under Contract 17 DOM
10. 2026-05-31
    days on market $129,900 Active Under Contract 16 DOM
11. 2026-05-31
    days on market $129,900 Active Under Contract 15 DOM
12. 2026-05-15
    listed $129,900 Active 636-char remark

ⓘ 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: $361 · $30/mo
• Projected year-2 tax: $1,181 · $98/mo
• Expected delta: +$820/yr (+$68/mo · 227.0%)

ⓘ 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 · 14 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: $12,957
• − Mortgage interest: −$7,276
• − Property taxes: −$361
• − Insurance: −$650
• − Repairs & maintenance: −$1,037
• − Management: −$1,037
• − Depreciation: −$3,779
• Taxable loss: −$1,182
• Est. tax savings @ 24.0%: +$284
• After-tax cash flow: $1,334/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: Inland Lakes Schools
• NCES district ID: 2619170
• Math proficiency: 23% ▼ -3.00%
• Reading proficiency: 34% ▲ 3.00%
• Median HH income: $44,708
• Composite: 24.41/100
• National rank: #7683
• State rank: #382 of 540 in MI

Livability — Indian River

• Score: 64/100
• State rank: #484
• US rank: #14003

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Indian River, MI
• Population (ZIP): 4,860

Population outlook (Cheboygan County) Hauer SSP2

• Today (2025): 23,773 people
• By 2030: 22,545 · -5.2%
• By 2040: 19,526 · -17.9%
• By 2050: 16,547 · -30.4%
• By 2075: 11,263 · -52.6%
• By 2100: 7,290 · -69.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 7% Native American 2%
• Common ancestry: Romanian 10% Lithuanian 5% Slovak 4%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Russian/Polish/Slavic 1%

Political lean MEDSL · Cheboygan

• 2024 margin: Solid R (+31.1) · D 33.8% · R 64.9% · Other 1.4%
• 2008→2024 swing: -29.7pp toward R · 2008: -1.4pp · 2024: -31.1pp
• All cycles: 2024: R+31.1 2020: R+29.9 2016: R+32.1 2012: R+10.9 2008: R+1.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -156.34%
• Current HPI: 224.5695
• 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

3 events — show timeline

• 2026-06-12 Pending — WWMLS
• 2026-05-29 Contingent — WWMLS
• 2026-05-15 Listed $129,900 WWMLS

Property tax history

-4.3%/yr

Latest (2025): $361 · -50.4% YoY. Source: county tax records.