7700 Nicole Dr · Plainfield, MI 48761

$129,000

2 bd · 1.0 ba · 948 sqft · SingleFamily public records · 3 Days on market

Built 1955 0.27 ac lot Est $257k · 50% under

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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).

• ARV discount +15.0/15.0
• Cash flow +9.1/30.0
• Appreciation +5.3/10.0
• Schools +3.6/10.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0

Listing remarks MLS

Very well maintained cottage with access to Jose Lake directly across the street from the house. This 2 bed 1 bath home has been loved by the current owner for may years and pride of ownership shows. Nice view of the lake looking out the living room window to watch the lake activities. 24x24 two car garage is perfect to store all your weekend or up north stuff. Ready yo move into and enjoy the summer of 2026. Located close to the Huron National Forest lands and the AuSable River.

Key facts

• Access to jose lake
• View of the lake
• 0.27 acre lot

Tags

• ACCESS TO JOSE LAKE
• VIEW OF THE LAKE
• CLOSE TO HURON NATIONAL FOREST
• CLOSE TO AUSABLE RIVER

Property features AI

Exterior

• Parking: Detached 2-car garage (24 x 24)
• Utilities: Private well water; Septic system; Electric water heater; Cable available
• Home design: Single-story residential home; Built in 1955
• Construction: Vinyl siding; Slab foundation
• Exterior features: Water view of an interior lake; Subdivision setting; Gravel road access

Interior

• Kitchen: Kitchen on main level (approx. 12 x 10); Vinyl flooring; Range/oven; Refrigerator; Dishwasher not listed
• Bedrooms: Two main-level bedrooms (each about 12 x 8) with carpet
• Flooring: Carpet in living areas, family room, dining room, and bedrooms; Vinyl in kitchen
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Baseboard heating; Space heater; Heat sources: Electric and LP/propane
• Interior features: Fireplace; Pantry; Window treatments
• Laundry & utility: Washer and dryer; Laundry room on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $-99 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $111k (13.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $89k (31.3% below list).
• Recommended offer: $89k (31.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Hale Area Schools (rural): math 35% / reading 45% proficiency, ranked #402 of 760 in MI (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 19 active listings in the ZIP; 58 units permitted in Iosco County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($892 loan paydown + $698 appreciation (0.5% local appreciation)).
• Iosco County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 10y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $67k; list at $129k implies a 92% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $88,657 (31.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.69% ✗
• Cap rate: 5.37%
• Cash-on-cash: -3.29%
• DSCR: 0.85
• GRM: 12.1

CMA / ARV

• ARV (on-the-fly): $256,908
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7752 Nicole Dr	0.29mi	2/1.0	1,000 (+6%)	12mo	$175,000	$175	67
6875 Jose Lake Rd	0.43mi	1/1.0 (-1)	960 (+1%)	11mo	$260,000	$271	64
6970 Jose Lake Rd	0.40mi	2/1.0	854 (-10%)	21mo	$85,000	$100	47
7171 Jose Lake Rd	0.31mi	3/1.0 (+1)	1,080 (+14%)	13mo	$377,800	$350	47

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.54% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -3.9%
• Equity multiple: 0.81×
• Total profit: $-6,811
• Equity at exit: $40,986

10-year hold

• IRR: 1.6%
• Equity multiple: 1.18×
• Total profit: $6,528
• Equity at exit: $52,180

Cash invested: $36,120 (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 48761

• Home prices YoY: 0.3%
• Active inventory: 19
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $887 medium
• Mortgage (P&I): −$676
• Tax from tax record: −$69 /mo · $831/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$186
• Net cashflow: $-99

Break-even live

Break-even rent $1,012

Max offer price $111,496

Occupancy floor —

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-18
   days on market $129,000 Active 3 DOM
2. 2026-06-17
   listing id $129,000 Active 2 DOM
3. 2026-06-17
   days on market $129,000 Active 2 DOM
4. 2026-06-16
   remarks 484-char remark
5. 2026-06-16
   listed $129,000 Active 1 DOM

ⓘ 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: $831 · $69/mo
• Projected year-2 tax: $1,409 · $117/mo
• Expected delta: +$578/yr (+$48/mo · 69.6%)

ⓘ 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 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥94°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,639
• − Mortgage interest: −$7,226
• − Property taxes: −$831
• − Insurance: −$645
• − Repairs & maintenance: −$851
• − Management: −$851
• − Depreciation: −$3,753
• Taxable loss: −$3,518
• Est. tax savings @ 24.0%: +$844
• After-tax cash flow: $-345/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: Hale Area Schools
• NCES district ID: 2617370
• Math proficiency: 35% ▲ 5.00%
• Reading proficiency: 45% ▲ 10.00%
• Median HH income: $35,292
• Composite: 35.5/100
• National rank: #9750
• State rank: #402 of 760 in MI

Livability — Plainfield

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

Census & demographics

• Population (ZIP): 804

Population outlook (Iosco County) Hauer SSP2

• Today (2025): 24,366 people
• By 2030: 23,622 · -3.1%
• By 2040: 22,021 · -9.6%
• By 2050: 20,877 · -14.3%
• By 2075: 18,792 · -22.9%
• By 2100: 15,465 · -36.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Common ancestry: Lithuanian 14% Romanian 13% Slovak 5%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Iosco

• 2024 margin: Solid R (+30.6) · D 34.0% · R 64.5% · Other 1.5%
• 2008→2024 swing: -35.7pp toward R · 2008: 5.1pp · 2024: -30.6pp
• All cycles: 2024: R+30.6 2020: R+28.6 2016: R+30.0 2012: R+5.0 2008: D+5.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.54%
• Current HPI: 176.0313
• 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

+92.0% since first listed

7 events — show timeline

• 2026-06-15 Listed $129,000 REALCOMP
• 2026-06-15 Listed $129,000 MiRealSource-MiMLS
• 2017-05-20 Listing Removed — REALCOMP
• 2017-05-20 Listing Removed — MiRealSource-MiMLS
• 2016-05-20 Listed $63,000 REALCOMP
• 2016-05-20 Listed $63,000 MiRealSource-MiMLS
• 2008-07-01 Sold (Public Records) $67,200 Public Records

Property tax history

-0.4%/yr

Latest (2025): $831 · +3.5% YoY. Source: county tax records.