201 E 5th St · Mentor, MI 48647

$41,000

1 bd · 1.0 ba · 718 sqft · SingleFamily · 104 Days on market

8,712 sqft lot $57/sqft · 45% below area Est $75k · 45% under ↓ 6% since listing

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

1 bed 1 bath handyman's special. Being sold as-is.

Key facts

• 8,712 sq ft lot
• 2 garage spots
• Listed 103 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $41k.

Deal economics

• At list price, monthly cash flow is $355 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($813 rent vs $41k).
• Recommended offer: $37k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Mio-Ausable Schools (rural): math 31% / reading 33% proficiency, ranked #351 of 540 in MI (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 45 active listings in the ZIP; 29 units permitted in Oscoda County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $283 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Oscoda County population projected at -32% 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 $11k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($37k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $37,310 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% 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. 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: 1.98% ✓
• Cap rate: 16.68%
• Cash-on-cash: 37.11%
• DSCR: 2.65
• GRM: 4.2

CMA / ARV

• ARV (median comp): $75,224
• List price: $41,000
• Delta: -45.50%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
407 Pine Lane Ln	0.46mi	2/1.0 (+1)	616 (-14%)	12mo	$75,000	$122	40

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: 33.0%
• Equity multiple: 2.39×
• Total profit: $15,981
• Equity at exit: $6,113

10-year hold

• IRR: 40.0%
• Equity multiple: 4.75×
• Total profit: $43,089
• Equity at exit: $3,545

Cash invested: $11,480 (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 48647

• Home prices YoY: -14.3%
• Active inventory: 45
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $813 medium
• Mortgage (P&I): −$215
• Tax from tax record: −$55 /mo · $658/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$171
• Net cashflow: $355

Break-even live

Break-even rent $363

Max offer price $41,000

Occupancy floor 51%

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: $10,250
• Closing costs: $1,230
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $41,000 Active 104 DOM
2. 2026-06-17
   days on market $41,000 Active 103 DOM
3. 2026-06-16
   days on market $41,000 Active 102 DOM
4. 2026-06-15
   days on market $41,000 Active 101 DOM
5. 2026-06-13
   days on market $41,000 Active 99 DOM
6. 2026-06-12
   pricedays on market $41,000 Active 98 DOM
7. 2026-06-09
   days on market $46,000 Active 95 DOM
8. 2026-06-08
   days on market $46,000 Active 94 DOM
9. 2026-06-07
   days on market $46,000 Active 93 DOM
10. 2026-06-07
    days on market $46,000 Active 92 DOM
11. 2026-06-04
    days on market $46,000 Active 89 DOM
12. 2026-06-02
    days on market $46,000 Active 88 DOM
13. 2026-06-01
    days on market $46,000 Active 87 DOM
14. 2026-05-31
    days on market $46,000 Active 86 DOM
15. 2026-05-31
    days on market $46,000 Active 85 DOM
16. 2026-05-04
    price $46,000 50-char remark

    Show marketing remark (50 chars)

    1 bed 1 bath handyman's special. Being sold as-is.

17. 2026-03-04
    listed $49,000 Active 50-char remark

    Show marketing remark (50 chars)

    1 bed 1 bath handyman's special. Being sold as-is.

ⓘ 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: $658 · $55/mo
• Projected year-2 tax: $658 · $55/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥95°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: $9,750
• − Mortgage interest: −$2,297
• − Property taxes: −$658
• − Insurance: −$205
• − Repairs & maintenance: −$780
• − Management: −$780
• − Depreciation: −$1,193
• Taxable income: $3,838
• Est. tax owed @ 24.0%: −$921
• After-tax cash flow: $3,339/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: Mio-Ausable Schools
• NCES district ID: 2624000
• Math proficiency: 31% ▼ -3.00%
• Reading proficiency: 33% ▼ -6.00%
• Median HH income: $34,216
• Composite: 26.35/100
• National rank: #7236
• State rank: #351 of 540 in MI

Livability — Mentor

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Mio, MI
• Population (ZIP): 4,044

Population outlook (Oscoda County) Hauer SSP2

• Today (2025): 7,410 people
• By 2030: 6,884 · -7.1%
• By 2040: 5,853 · -21.0%
• By 2050: 5,055 · -31.8%
• By 2075: 3,832 · -48.3%
• By 2100: 2,863 · -61.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 6% Iranian 4% Slovak 3%
• Foreign-born: 1% · Canada
• Languages at home: 86% English-only · German/W. Germanic 11% Russian/Polish/Slavic 1% Spanish 1%

Political lean MEDSL · Oscoda

• 2024 margin: Solid R (+44.3) · D 27.2% · R 71.6% · Other 1.2%
• 2008→2024 swing: -34.3pp toward R · 2008: -10.0pp · 2024: -44.3pp
• All cycles: 2024: R+44.3 2020: R+43.6 2016: R+44.3 2012: R+16.2 2008: R+10.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -29.34%
• Current HPI: 176.2398
• 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

-6.1% since first listed

2 events — show timeline

• 2026-05-04 Price Changed $46,000 WWMLS
• 2026-03-04 Listed $49,000 WWMLS

Property tax history

+0.6%/yr

Latest (2025): $658 · -28.2% YoY. Source: county tax records.