7589 Front St · Thompsonville, MI 49683

$62,000

2 bd · 1.0 ba · 2,170 sqft · SingleFamily public records · 61 Days on market

Built 1880 0.41 ac lot

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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
• ARV discount +7.5/15.0
• Schools +3.3/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Home Near Crystal Mountain – Zoned R2 Located just 2 miles from Crystal Mountain and directly across from snowmobile trails, this 2,600 sq ft historic home offers strong upside for investors or short-term rental visionaries. Zoned R2 with potential for conversion to a duplex or upstairs apartment. Currently configured as a 2 bedroom, 1 bathroom downstairs, with a massive open upstairs that could be finished into 2–3 additional bedrooms or separate living space. Major updates include new PEX plumbing throughout, insulation added in 2023, updated electrical panel, 3-year-old water heater, a $6,000 Mr. Cool heating and AC system, double-pane windows, and true 2x4 framing. The home is mid-renovation and will require drywall, kitchen installation, cosmetic finishes, and roof attention in the coming years. Michigan basement. Large concrete parking pad in front. Prime in-town location kitty-corner from a popular bar and restaurant and minutes from skiing, hunting, fishing, camping, and year-round recreation. Perfect candidate for Airbnb, duplex conversion, or large single-family restoration. Cash or renovation financing only. All information deemed reliable but not guaranteed. Buyer and buyer’s agent to confirm all details and perform due diligence. Listing agent has not physically walked the property.

Key facts

• True 2x4 framing
• New pex plumbing
• Insulation added

Tags

• NEW PEX PLUMBING
• INSULATION ADDED
• UPDATED ELECTRICAL PANEL
• MR. COOL HEATING AND AC SYSTEM
• DOUBLE-PANE WINDOWS
• TRUE 2X4 FRAMING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $62k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $62k).
• Recommended offer: $58k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#604 in MI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities 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: 57 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 $429 of loan paydown is wiped out by about $2k 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 $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $13k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $58,280 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 3.33% ✓
• Cap rate: 30.44%
• Cash-on-cash: 86.26%
• DSCR: 4.84
• GRM: 2.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 86.7%
• Equity multiple: 5.00×
• Total profit: $69,434
• Equity at exit: $9,244

10-year hold

• IRR: 89.8%
• Equity multiple: 10.38×
• Total profit: $162,819
• Equity at exit: $5,361

Cash invested: $17,360 (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 49683

• Home prices YoY: -33.9%
• Active inventory: 57
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $2,067 medium
• Mortgage (P&I): −$325
• Tax from tax record: −$34 /mo · $408/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$434
• Net cashflow: $1,248

Break-even live

Break-even rent $487

Max offer price $62,000

Occupancy floor 35%

Sensitivity live

Price	-10% $1,283	-5% $1,265	+0% $1,248	+5% $1,230	+10% $1,213
Rent	-10% $1,085	-5% $1,166	+0% $1,248	+5% $1,329	+10% $1,411
Rate	-1.0pp $1,279	-0.5pp $1,264	base $1,248	+0.5pp $1,232	+1.0pp $1,215

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: $15,500
• Closing costs: $1,860
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-04-22
   status Pending

   Show marketing remark (1335 chars)

   Home Near Crystal Mountain – Zoned R2 Located just 2 miles from Crystal Mountain and directly across from snowmobile trails, this 2,600 sq ft historic home offers strong upside for investors or short-term rental visionaries. Zoned R2 with potential for conversion to a duplex or upstairs apartment. Currently configured as a 2 bedroom, 1 bathroom downstairs, with a massive open upstairs that could be finished into 2–3 additional bedrooms or separate living space. Major updates include new PEX plumbing throughout, insulation added in 2023, updated electrical panel, 3-year-old water heater, a $6,000 Mr. Cool heating and AC system, double-pane windows, and true 2x4 framing. The home is mid-renovation and will require drywall, kitchen installation, cosmetic finishes, and roof attention in the coming years. Michigan basement. Large concrete parking pad in front. Prime in-town location kitty-corner from a popular bar and restaurant and minutes from skiing, hunting, fishing, camping, and year-round recreation. Perfect candidate for Airbnb, duplex conversion, or large single-family restoration. Cash or renovation financing only. All information deemed reliable but not guaranteed. Buyer and buyer’s agent to confirm all details and perform due diligence. Listing agent has not physically walked the property.

2. 2026-04-22
   status Pending 1335-char remark

   Show marketing remark (1335 chars)

   Home Near Crystal Mountain – Zoned R2 Located just 2 miles from Crystal Mountain and directly across from snowmobile trails, this 2,600 sq ft historic home offers strong upside for investors or short-term rental visionaries. Zoned R2 with potential for conversion to a duplex or upstairs apartment. Currently configured as a 2 bedroom, 1 bathroom downstairs, with a massive open upstairs that could be finished into 2–3 additional bedrooms or separate living space. Major updates include new PEX plumbing throughout, insulation added in 2023, updated electrical panel, 3-year-old water heater, a $6,000 Mr. Cool heating and AC system, double-pane windows, and true 2x4 framing. The home is mid-renovation and will require drywall, kitchen installation, cosmetic finishes, and roof attention in the coming years. Michigan basement. Large concrete parking pad in front. Prime in-town location kitty-corner from a popular bar and restaurant and minutes from skiing, hunting, fishing, camping, and year-round recreation. Perfect candidate for Airbnb, duplex conversion, or large single-family restoration. Cash or renovation financing only. All information deemed reliable but not guaranteed. Buyer and buyer’s agent to confirm all details and perform due diligence. Listing agent has not physically walked the property.

3. 2026-04-03
   status Active

   Show marketing remark (1335 chars)

   Home Near Crystal Mountain – Zoned R2 Located just 2 miles from Crystal Mountain and directly across from snowmobile trails, this 2,600 sq ft historic home offers strong upside for investors or short-term rental visionaries. Zoned R2 with potential for conversion to a duplex or upstairs apartment. Currently configured as a 2 bedroom, 1 bathroom downstairs, with a massive open upstairs that could be finished into 2–3 additional bedrooms or separate living space. Major updates include new PEX plumbing throughout, insulation added in 2023, updated electrical panel, 3-year-old water heater, a $6,000 Mr. Cool heating and AC system, double-pane windows, and true 2x4 framing. The home is mid-renovation and will require drywall, kitchen installation, cosmetic finishes, and roof attention in the coming years. Michigan basement. Large concrete parking pad in front. Prime in-town location kitty-corner from a popular bar and restaurant and minutes from skiing, hunting, fishing, camping, and year-round recreation. Perfect candidate for Airbnb, duplex conversion, or large single-family restoration. Cash or renovation financing only. All information deemed reliable but not guaranteed. Buyer and buyer’s agent to confirm all details and perform due diligence. Listing agent has not physically walked the property.

4. 2026-04-03
   status Active 1335-char remark

   Show marketing remark (1335 chars)

   Home Near Crystal Mountain – Zoned R2 Located just 2 miles from Crystal Mountain and directly across from snowmobile trails, this 2,600 sq ft historic home offers strong upside for investors or short-term rental visionaries. Zoned R2 with potential for conversion to a duplex or upstairs apartment. Currently configured as a 2 bedroom, 1 bathroom downstairs, with a massive open upstairs that could be finished into 2–3 additional bedrooms or separate living space. Major updates include new PEX plumbing throughout, insulation added in 2023, updated electrical panel, 3-year-old water heater, a $6,000 Mr. Cool heating and AC system, double-pane windows, and true 2x4 framing. The home is mid-renovation and will require drywall, kitchen installation, cosmetic finishes, and roof attention in the coming years. Michigan basement. Large concrete parking pad in front. Prime in-town location kitty-corner from a popular bar and restaurant and minutes from skiing, hunting, fishing, camping, and year-round recreation. Perfect candidate for Airbnb, duplex conversion, or large single-family restoration. Cash or renovation financing only. All information deemed reliable but not guaranteed. Buyer and buyer’s agent to confirm all details and perform due diligence. Listing agent has not physically walked the property.

5. 2026-03-31
   historical

   Show marketing remark (1335 chars)

   Home Near Crystal Mountain – Zoned R2 Located just 2 miles from Crystal Mountain and directly across from snowmobile trails, this 2,600 sq ft historic home offers strong upside for investors or short-term rental visionaries. Zoned R2 with potential for conversion to a duplex or upstairs apartment. Currently configured as a 2 bedroom, 1 bathroom downstairs, with a massive open upstairs that could be finished into 2–3 additional bedrooms or separate living space. Major updates include new PEX plumbing throughout, insulation added in 2023, updated electrical panel, 3-year-old water heater, a $6,000 Mr. Cool heating and AC system, double-pane windows, and true 2x4 framing. The home is mid-renovation and will require drywall, kitchen installation, cosmetic finishes, and roof attention in the coming years. Michigan basement. Large concrete parking pad in front. Prime in-town location kitty-corner from a popular bar and restaurant and minutes from skiing, hunting, fishing, camping, and year-round recreation. Perfect candidate for Airbnb, duplex conversion, or large single-family restoration. Cash or renovation financing only. All information deemed reliable but not guaranteed. Buyer and buyer’s agent to confirm all details and perform due diligence. Listing agent has not physically walked the property.

6. 2026-03-31
   historical 1335-char remark

   Show marketing remark (1335 chars)

   Home Near Crystal Mountain – Zoned R2 Located just 2 miles from Crystal Mountain and directly across from snowmobile trails, this 2,600 sq ft historic home offers strong upside for investors or short-term rental visionaries. Zoned R2 with potential for conversion to a duplex or upstairs apartment. Currently configured as a 2 bedroom, 1 bathroom downstairs, with a massive open upstairs that could be finished into 2–3 additional bedrooms or separate living space. Major updates include new PEX plumbing throughout, insulation added in 2023, updated electrical panel, 3-year-old water heater, a $6,000 Mr. Cool heating and AC system, double-pane windows, and true 2x4 framing. The home is mid-renovation and will require drywall, kitchen installation, cosmetic finishes, and roof attention in the coming years. Michigan basement. Large concrete parking pad in front. Prime in-town location kitty-corner from a popular bar and restaurant and minutes from skiing, hunting, fishing, camping, and year-round recreation. Perfect candidate for Airbnb, duplex conversion, or large single-family restoration. Cash or renovation financing only. All information deemed reliable but not guaranteed. Buyer and buyer’s agent to confirm all details and perform due diligence. Listing agent has not physically walked the property.

7. 2026-03-24
   price $62,000 1335-char remark

   Show marketing remark (1335 chars)

   Home Near Crystal Mountain – Zoned R2 Located just 2 miles from Crystal Mountain and directly across from snowmobile trails, this 2,600 sq ft historic home offers strong upside for investors or short-term rental visionaries. Zoned R2 with potential for conversion to a duplex or upstairs apartment. Currently configured as a 2 bedroom, 1 bathroom downstairs, with a massive open upstairs that could be finished into 2–3 additional bedrooms or separate living space. Major updates include new PEX plumbing throughout, insulation added in 2023, updated electrical panel, 3-year-old water heater, a $6,000 Mr. Cool heating and AC system, double-pane windows, and true 2x4 framing. The home is mid-renovation and will require drywall, kitchen installation, cosmetic finishes, and roof attention in the coming years. Michigan basement. Large concrete parking pad in front. Prime in-town location kitty-corner from a popular bar and restaurant and minutes from skiing, hunting, fishing, camping, and year-round recreation. Perfect candidate for Airbnb, duplex conversion, or large single-family restoration. Cash or renovation financing only. All information deemed reliable but not guaranteed. Buyer and buyer’s agent to confirm all details and perform due diligence. Listing agent has not physically walked the property.

8. 2026-03-23
   price $62,000
9. 2026-02-28
   price $68,000 1335-char remark

   Show marketing remark (1335 chars)

   Home Near Crystal Mountain – Zoned R2 Located just 2 miles from Crystal Mountain and directly across from snowmobile trails, this 2,600 sq ft historic home offers strong upside for investors or short-term rental visionaries. Zoned R2 with potential for conversion to a duplex or upstairs apartment. Currently configured as a 2 bedroom, 1 bathroom downstairs, with a massive open upstairs that could be finished into 2–3 additional bedrooms or separate living space. Major updates include new PEX plumbing throughout, insulation added in 2023, updated electrical panel, 3-year-old water heater, a $6,000 Mr. Cool heating and AC system, double-pane windows, and true 2x4 framing. The home is mid-renovation and will require drywall, kitchen installation, cosmetic finishes, and roof attention in the coming years. Michigan basement. Large concrete parking pad in front. Prime in-town location kitty-corner from a popular bar and restaurant and minutes from skiing, hunting, fishing, camping, and year-round recreation. Perfect candidate for Airbnb, duplex conversion, or large single-family restoration. Cash or renovation financing only. All information deemed reliable but not guaranteed. Buyer and buyer’s agent to confirm all details and perform due diligence. Listing agent has not physically walked the property.

10. 2026-02-27
    price $68,000
11. 2026-02-17
    listed $75,000 Active

    Show marketing remark (1335 chars)

    Home Near Crystal Mountain – Zoned R2 Located just 2 miles from Crystal Mountain and directly across from snowmobile trails, this 2,600 sq ft historic home offers strong upside for investors or short-term rental visionaries. Zoned R2 with potential for conversion to a duplex or upstairs apartment. Currently configured as a 2 bedroom, 1 bathroom downstairs, with a massive open upstairs that could be finished into 2–3 additional bedrooms or separate living space. Major updates include new PEX plumbing throughout, insulation added in 2023, updated electrical panel, 3-year-old water heater, a $6,000 Mr. Cool heating and AC system, double-pane windows, and true 2x4 framing. The home is mid-renovation and will require drywall, kitchen installation, cosmetic finishes, and roof attention in the coming years. Michigan basement. Large concrete parking pad in front. Prime in-town location kitty-corner from a popular bar and restaurant and minutes from skiing, hunting, fishing, camping, and year-round recreation. Perfect candidate for Airbnb, duplex conversion, or large single-family restoration. Cash or renovation financing only. All information deemed reliable but not guaranteed. Buyer and buyer’s agent to confirm all details and perform due diligence. Listing agent has not physically walked the property.

12. 2026-02-17
    listed $75,000 Active 1335-char remark

    Show marketing remark (1335 chars)

    Home Near Crystal Mountain – Zoned R2 Located just 2 miles from Crystal Mountain and directly across from snowmobile trails, this 2,600 sq ft historic home offers strong upside for investors or short-term rental visionaries. Zoned R2 with potential for conversion to a duplex or upstairs apartment. Currently configured as a 2 bedroom, 1 bathroom downstairs, with a massive open upstairs that could be finished into 2–3 additional bedrooms or separate living space. Major updates include new PEX plumbing throughout, insulation added in 2023, updated electrical panel, 3-year-old water heater, a $6,000 Mr. Cool heating and AC system, double-pane windows, and true 2x4 framing. The home is mid-renovation and will require drywall, kitchen installation, cosmetic finishes, and roof attention in the coming years. Michigan basement. Large concrete parking pad in front. Prime in-town location kitty-corner from a popular bar and restaurant and minutes from skiing, hunting, fishing, camping, and year-round recreation. Perfect candidate for Airbnb, duplex conversion, or large single-family restoration. Cash or renovation financing only. All information deemed reliable but not guaranteed. Buyer and buyer’s agent to confirm all details and perform due diligence. Listing agent has not physically walked the property.

13. 2010-03-17
    soldstatus $45,000

ⓘ 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: $408 · $34/mo
• Projected year-2 tax: $682 · $57/mo
• Expected delta: +$273/yr (+$23/mo · 66.9%)

ⓘ 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 1/10 Low
• 🌡 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: $24,803
• − Mortgage interest: −$3,473
• − Property taxes: −$408
• − Insurance: −$310
• − Repairs & maintenance: −$1,984
• − Management: −$1,984
• − Depreciation: −$1,804
• Taxable income: $14,839
• Est. tax owed @ 24.0%: −$3,561
• After-tax cash flow: $11,413/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 — Thompsonville

• Score: 59/100
• State rank: #604
• US rank: #20110

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Thompsonville, MI
• Population (ZIP): 2,070

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 (92%)
• Race & ethnicity: White 92% Two or more races 4% Native American 2%
• Common ancestry: Romanian 8% Iranian 6% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Other Indo-European 1% Spanish 0%

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: ▼ -90.79%
• Current HPI: 176.9311
• 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

+37.8% since first listed

13 events — show timeline

• 2026-04-22 Pending — REALCOMP
• 2026-04-22 Pending — MiRealSource-MiMLS
• 2026-04-03 Relisted — REALCOMP
• 2026-04-03 Relisted — MiRealSource-MiMLS
• 2026-03-31 Listing Removed — MiRealSource-MiMLS
• 2026-03-31 Listing Removed — REALCOMP
• 2026-03-24 Price Changed $62,000 MiRealSource-MiMLS
• 2026-03-23 Price Changed $62,000 REALCOMP
• 2026-02-28 Price Changed $68,000 MiRealSource-MiMLS
• 2026-02-27 Price Changed $68,000 REALCOMP
• 2026-02-17 Listed $75,000 REALCOMP
• 2026-02-17 Listed $75,000 MiRealSource-MiMLS
• 2010-03-17 Sold (Public Records) $45,000 Public Records

Property tax history

-34.5%/yr

Latest (2025): $408 · -61.4% YoY. Source: county tax records.