487 S County St · Hillman, MI 49746

$120,000

3 bd · 1.0 ba · 1,200 sqft · Other · 52 Days on market

Built 1925 Fair condition ↓ 14% since listing

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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 +15.8/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.9/10.0
• 1% rule +4.3/10.0
• Livability +3.1/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks

Move in ready 3 bedroom home with large eat in kitchen spacious living room with wall a/c adjoining dining room with fireplace hardwood flooring under carpeting and tiled bathroom with shower appliances are included natural gas heat municipal water/sewer detached garage and barn shed. Move in at close. Cash Sale. Call 9892625048

Key facts

• Hardwood flooring
• Large eat in kitchen
• Tiled bathroom

Tags

• LARGE EAT IN KITCHEN
• SPACIOUS LIVING ROOM
• ADJOINING DINING ROOM
• FIREPLACE
• HARDWOOD FLOORING
• TILED BATHROOM

Property features AI

Exterior

• Home design: Built in 1925; Single-family property
• Construction: Year built: 1925

Interior

• Kitchen: Dishwasher; Refrigerator
• Flooring: Carpet; Tile
• Interior features: Fireplace; Pantry; Workshop

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $120k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $55 ($655/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 $112k (6.8% below list).
• Recommended offer: $112k (6.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#575 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: schools F, crime F, amenities F.
• Hillman Community Schools (rural): math 22% / reading 40% proficiency, ranked #361 of 540 in MI (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 39 active listings in the ZIP.

Forward outlook

• In year one you build about $13k of equity ($830 loan paydown + $12k appreciation (10.0% local appreciation)).
• Montmorency County population projected at -38% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $111,888 (6.8% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.93% ✗
• Cap rate: 6.84%
• Cash-on-cash: 1.95%
• DSCR: 1.09
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.7%
• Equity multiple: 3.05×
• Total profit: $68,851
• Equity at exit: $108,106

10-year hold

• IRR: 22.6%
• Equity multiple: 6.95×
• Total profit: $200,053
• Equity at exit: $233,134

Cash invested: $33,600 (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 49746

• Home prices YoY: 5.7%
• Active inventory: 39
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,119 medium
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,800/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$235
• Net cashflow: $55

Break-even live

Break-even rent $1,050

Max offer price $120,000

Occupancy floor 90%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $120,000 Active 52 DOM
2. 2026-06-17
   days on market $120,000 Active 51 DOM
3. 2026-06-16
   days on market $120,000 Active 50 DOM
4. 2026-06-15
   days on market $120,000 Active 49 DOM
5. 2026-06-13
   days on market $120,000 Active 47 DOM
6. 2026-06-12
   days on market $120,000 Active 46 DOM
7. 2026-06-09
   days on market $120,000 Active 43 DOM
8. 2026-06-08
   days on market $120,000 Active 42 DOM
9. 2026-06-07
   days on market $120,000 Active 41 DOM
10. 2026-06-07
    days on market $120,000 Active 40 DOM
11. 2026-06-04
    days on market $120,000 Active 37 DOM
12. 2026-06-02
    days on market $120,000 Active 36 DOM
13. 2026-06-01
    days on market $120,000 Active 35 DOM
14. 2026-05-31
    days on market $120,000 Active 34 DOM
15. 2026-05-31
    days on market $120,000 Active 33 DOM
16. 2026-05-14
    price $120,000 330-char remark
17. 2026-04-26
    listed $139,900 Active 330-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥94°F today · 13 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: $13,427
• − Mortgage interest: −$6,722
• − Property taxes: −$1,800
• − Insurance: −$600
• − Repairs & maintenance: −$1,074
• − Management: −$1,074
• − Depreciation: −$3,491
• Taxable loss: −$1,334
• Est. tax savings @ 24.0%: +$320
• After-tax cash flow: $976/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.

Condition & rehab AI · 2 photos

Fair 45/100 Moderate rehab

The home is in fair condition with some minor repairs and maintenance needed. Painting and landscaping would significantly enhance its value.

Repairs flagged

• Minor Painting — Paint appears faded in some areas
• Minor Landscaping — Some areas of the lawn appear uneven

Value-add opportunities

• Both Painting the exterior and interior — Fresh paint enhances curb appeal and interior aesthetics
• Both Landscaping and trimming bushes — A well-maintained yard improves curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Painting · Paint appears faded in some areas	Minor	$500–3,000
Landscaping · Some areas of the lawn appear uneven	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Painting the exterior and interior — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping and trimming bushes — A well-maintained yard improves curb appeal and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Hillman Community Schools
• NCES district ID: 2618360
• Math proficiency: 22% ▬ 0.00%
• Reading proficiency: 40% ▲ 3.00%
• Median HH income: $37,668
• Composite: 25.78/100
• National rank: #7368
• State rank: #361 of 540 in MI

Livability — Hillman

• Score: 61/100
• State rank: #575
• US rank: #18368

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hillman, MI
• Population (ZIP): 3,502

Population outlook (Montmorency County) Hauer SSP2

• Today (2025): 8,233 people
• By 2030: 7,575 · -8.0%
• By 2040: 6,202 · -24.7%
• By 2050: 5,081 · -38.3%
• By 2075: 3,119 · -62.1%
• By 2100: 1,923 · -76.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 1% Native American 1%
• Common ancestry: Romanian 9% Lithuanian 6% Slovak 2%
• Foreign-born: 1% · Canada

Political lean MEDSL · Montmorency

• 2024 margin: Solid R (+45.3) · D 26.6% · R 72.0% · Other 1.4%
• 2008→2024 swing: -37.2pp toward R · 2008: -8.2pp · 2024: -45.3pp
• All cycles: 2024: R+45.3 2020: R+43.4 2016: R+44.2 2012: R+17.4 2008: R+8.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.19%
• Current HPI: 208.751
• 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

-14.2% since first listed

2 events — show timeline

• 2026-05-14 Price Changed $120,000 FSBO.com
• 2026-04-26 Listed $139,900 FSBO.com