211 E Mcmillan Ave · McMillan, MI 49868

$115,000

4 bd · 1.0 ba · 1,180 sqft · SingleFamily public records · 73 Days on market

Built 1918 $97/sqft · 8% below area Est $124k · 8% under

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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 +27.5/30.0
• ARV discount +10.9/15.0
• DSCR +9.7/10.0
• 1% rule +6.8/10.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Two story home with 4 bedrooms, 2 baths and main floor laundry. There are 2 garages and a nice size fenced in back yard. The home has one bedroom on the main level with a 3/4 bath and there are 3 bedrooms on the second level with a full bath. The second floor also offers a nice sitting room. All the appliances, washer and dryer and furniture is included in the sale. There is a one car garage attached to the house and the other one garage/work bench area is located in the alley. The home has original hardwood floors along with some carpet. The covered back deck offers a lot a shade in the summer months along with a privacy fence. The home is located near the school and downtown area.

Key facts

• Garage
• Built 1918
• Listed 73 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $341 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $108k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Tahquamenon Area Schools (town): math 23% / reading 37% proficiency, ranked #374 of 540 in MI (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 67 active listings in the ZIP; 9 units permitted in Luce County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Luce County population projected at -11% 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 $32k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $28k; list at $115k implies a 311% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $108,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 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 1918 — 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. 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: 1.18% ✓
• Cap rate: 9.85%
• Cash-on-cash: 12.70%
• DSCR: 1.57
• GRM: 7.1

CMA / ARV

• ARV (median comp): $124,479
• List price: $115,000
• Delta: -7.62%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
408 Handy St	0.10mi	4/2.5	1,219 (+3%)	0mo	$130,000	$107	84
422 E A Ave	0.26mi	4/1.0	1,210 (+2%)	1mo	$73,000	$60	83
410 E Harrie St	0.18mi	3/1.5 (-1)	1,212 (+3%)	12mo	$137,900	$114	70
316 W Avenue B Ave	0.36mi	3/1.0 (-1)	1,104 (-6%)	4mo	$140,000	$127	64

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: 2.5%
• Equity multiple: 1.10×
• Total profit: $3,059
• Equity at exit: $17,147

10-year hold

• IRR: 12.0%
• Equity multiple: 1.95×
• Total profit: $30,549
• Equity at exit: $9,943

Cash invested: $32,200 (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 49868

• Home prices YoY: -16.8%
• Active inventory: 67
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,358 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$81 /mo · $971/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $341

Break-even live

Break-even rent $927

Max offer price $115,000

Occupancy floor 70%

Sensitivity live

Price	-10% $406	-5% $373	+0% $341	+5% $308	+10% $276
Rent	-10% $234	-5% $287	+0% $341	+5% $395	+10% $448
Rate	-1.0pp $399	-0.5pp $370	base $341	+0.5pp $311	+1.0pp $281

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $115,000 Active 73 DOM
2. 2026-06-18
   days on market $115,000 Active 71 DOM
3. 2026-06-17
   days on market $115,000 Active 70 DOM
4. 2026-06-16
   days on market $115,000 Active 69 DOM
5. 2026-06-15
   days on market $115,000 Active 68 DOM
6. 2026-06-13
   days on market $115,000 Active 66 DOM
7. 2026-06-12
   days on market $115,000 Active 65 DOM
8. 2026-06-09
   days on market $115,000 Active 62 DOM
9. 2026-06-08
   days on market $115,000 Active 61 DOM
10. 2026-06-07
    days on market $115,000 Active 60 DOM
11. 2026-06-07
    days on market $115,000 Active 59 DOM
12. 2026-06-04
    days on market $115,000 Active 56 DOM
13. 2026-06-02
    days on market $115,000 Active 55 DOM
14. 2026-06-01
    days on market $115,000 Active 54 DOM
15. 2026-05-31
    days on market $115,000 Active 53 DOM
16. 2026-05-31
    days on market $115,000 Active 52 DOM
17. 2026-04-08
    listed $115,000 Active 691-char remark

    Show marketing remark (691 chars)

    Two story home with 4 bedrooms, 2 baths and main floor laundry. There are 2 garages and a nice size fenced in back yard. The home has one bedroom on the main level with a 3/4 bath and there are 3 bedrooms on the second level with a full bath. The second floor also offers a nice sitting room. All the appliances, washer and dryer and furniture is included in the sale. There is a one car garage attached to the house and the other one garage/work bench area is located in the alley. The home has original hardwood floors along with some carpet. The covered back deck offers a lot a shade in the summer months along with a privacy fence. The home is located near the school and downtown area.

18. 2014-05-08
    soldstatus $28,000

ⓘ 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: $971 · $81/mo
• Projected year-2 tax: $1,371 · $114/mo
• Expected delta: +$400/yr (+$33/mo · 41.2%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥89°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: $16,296
• − Mortgage interest: −$6,442
• − Property taxes: −$971
• − Insurance: −$575
• − Repairs & maintenance: −$1,304
• − Management: −$1,304
• − Depreciation: −$3,345
• Taxable income: $2,355
• Est. tax owed @ 24.0%: −$565
• After-tax cash flow: $3,526/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: Tahquamenon Area Schools
• NCES district ID: 2625350
• Math proficiency: 23% ▼ -1.00%
• Reading proficiency: 37% ▼ -4.00%
• Median HH income: $38,217
• Composite: 25.03/100
• National rank: #7553
• State rank: #374 of 540 in MI

Livability — McMillan

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

Census & demographics

• Census place: Newberry, MI
• Population (ZIP): 5,231

Population outlook (Luce County) Hauer SSP2

• Today (2025): 6,185 people
• By 2030: 6,049 · -2.2%
• By 2040: 5,756 · -6.9%
• By 2050: 5,481 · -11.4%
• By 2075: 4,729 · -23.5%
• By 2100: 3,631 · -41.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 10% Native American 8% Two or more races 6% Hispanic / Latino 2%
• Common ancestry: Romanian 4% Lithuanian 3% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 2% Arabic 1%

Political lean MEDSL · Luce

• 2024 margin: Solid R (+46.9) · D 25.8% · R 72.7% · Other 1.5%
• 2008→2024 swing: -36.0pp toward R · 2008: -10.9pp · 2024: -46.9pp
• All cycles: 2024: R+46.9 2020: R+42.2 2016: R+41.7 2012: R+22.2 2008: R+10.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -26.69%
• Current HPI: 132.0633
• 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

+310.7% since first listed

2 events — show timeline

• 2026-04-08 Listed $115,000 EUPBR
• 2014-05-08 Sold (Public Records) $28,000 Public Records

Property tax history

+30.3%/yr

Latest (2016): $971 · +121.1% YoY. Source: county tax records.