1980 4th Oak St · Mills, MI 48756

$59,500

1 bd · 0.5 ba · 225 sqft · SingleFamily public records · 13 Days on market

Built 2019 Poor condition 1.70 ac lot

---

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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Schools +1.4/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Ready to build sweat equity in a premier Northern Michigan recreation spot? This affordable Prescott cabin shell offers an unbeatable location for hunting season, trail riding, and summer river trips, providing a solid structure just waiting for your vision and finishing touches. The Location is Unmatched: Hunting & Wildlife: The property backs directly up to a local hunt club and is surrounded by an abundance of public state land. Water Recreation: You are only one mile from the beautiful Rifle River, a premier destination for canoeing, kayaking, and tubing. The Potential: The interior of this structure is a completely open canvas. It currently has no heat source, no running water, and needs finishing walls, plumbing, and electrical (current temporary power is obtained via a drop cord from the pole). Whether you want to frame it out with a cozy wood stove for a custom winter hunt camp, or finish it as a minimalist summer river pad, the shell and the phenomenal location are already here. Skip the tent and the weather elements, bring your tools and your camp gear! Schedule your private tour today and grab this ultimate recreational project at an unbeatable value.

Key facts

• 1.7 acre lot
• Built 2019
• Listed 13 days

Tags

• BACKS TO LOCAL HUNT CLUB
• ONE MILE FROM RIFLE RIVER

Property features AI

Finance

• Other: Approximately 1.7 acres (lot dimensions ~370 x 200)
• HOA & community: Homeowners association present

Exterior

• Utilities: Private well water; Septic tank
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Slab foundation; Built above grade with finished living area
• Exterior features: Front porch; Yard with wooded lot

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: No central heating; No central air conditioning
• Interior features: Total of 3 rooms

What this means for you Summary

Snapshot

• This is a 1-bed/0.5-bath single-family listed at $60k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $268 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($818 rent vs $60k).

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Whittemore-Prescott Area Schools (rural): math 11% / reading 25% proficiency, ranked #488 of 540 in MI (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Whittemoreprescott Area Elementary (math 2% / reading 17%, grade F, #1,277 of 1,397 statewide, top 93%, 368 students, 86% FRL); Whittemoreprescott Jrsr High School (math 17% / reading 42%, grade F, #441 of 713 statewide, top 64%, 321 students, 84% FRL).
• Market conditions: 56 active listings in the ZIP; 57 units permitted in Ogemaw County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $411 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Ogemaw County population projected at -26% 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 ~7 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $21k; list at $60k implies a 190% gain — meaningful room to come down on a strong offer.

Recommended offer $59,500

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.37% ✓
• Cap rate: 11.70%
• Cash-on-cash: 19.32%
• DSCR: 1.86
• GRM: 6.1

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: 11.3%
• Equity multiple: 1.45×
• Total profit: $7,434
• Equity at exit: $8,872

10-year hold

• IRR: 20.3%
• Equity multiple: 2.71×
• Total profit: $28,438
• Equity at exit: $5,144

Cash invested: $16,660 (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 48756

• Home prices YoY: -9.7%
• Active inventory: 56
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $818 medium
• Mortgage (P&I): −$312
• Tax from tax record: −$41 /mo · $495/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$172
• Net cashflow: $268

Break-even live

Break-even rent $479

Max offer price $59,500

Occupancy floor 62%

Sensitivity live

Price	-10% $302	-5% $285	+0% $268	+5% $251	+10% $235
Rent	-10% $204	-5% $236	+0% $268	+5% $301	+10% $333
Rate	-1.0pp $298	-0.5pp $283	base $268	+0.5pp $253	+1.0pp $237

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: $14,875
• Closing costs: $1,785
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-21
   days on market $59,500 Active 13 DOM
2. 2026-06-21
   days on market $59,500 Active 12 DOM
3. 2026-06-18
   days on market $59,500 Active 10 DOM
4. 2026-06-17
   days on market $59,500 Active 9 DOM
5. 2026-06-16
   days on market $59,500 Active 8 DOM
6. 2026-06-15
   days on market $59,500 Active 7 DOM
7. 2026-06-13
   days on market $59,500 Active 5 DOM
8. 2026-06-12
   days on market $59,500 Active 4 DOM
9. 2026-06-09
   remarks 695-char remark
10. 2026-06-09
    listed $59,500 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: $495 · $41/mo
• Projected year-2 tax: $706 · $59/mo
• Expected delta: +$211/yr (+$18/mo · 42.6%)

ⓘ 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 2/10 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: $9,817
• − Mortgage interest: −$3,333
• − Property taxes: −$495
• − Insurance: −$298
• − Repairs & maintenance: −$785
• − Management: −$785
• − Depreciation: −$1,731
• Taxable income: $2,390
• Est. tax owed @ 24.0%: −$574
• After-tax cash flow: $2,645/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 · 10 photos

Poor 20/100 Extensive rehab

This property requires extensive renovation and modernization to become move-in ready and attractive to buyers and renters.

Repairs flagged

• Major Kitchen cabinets — Worn and outdated
• Major Bathroom fixtures — No heat source, no running water
• Major Roof — No heat source, no running water
• Major Exterior siding — No heat source, no running water
• Major Flooring — No heat source, no running water
• Major Interior walls/paint — No heat source, no running water
• Major HVAC/mechanicals — No heat source, no running water

Value-add opportunities

• Both Complete renovation and modernization of the kitchen and bathroom — Modern appliances and fixtures would attract buyers and renters
• Both New roof and siding to improve curb appeal and functionality — Aesthetic and functional improvements
• Both New flooring and interior paint to freshen the space — Enhances the overall appearance and appeal
• Both HVAC system upgrade for comfort and energy efficiency — Improves comfort and reduces energy costs
• Both Landscaping and curb appeal improvements — Enhances the property's visual appeal and marketability

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn and outdated	Major	$15,000–50,000
Bathroom fixtures · No heat source, no running water	Major	$15,000–50,000
Roof · No heat source, no running water	Major	$15,000–50,000
Exterior siding · No heat source, no running water	Major	$15,000–50,000
Flooring · No heat source, no running water	Major	$15,000–50,000
Interior walls/paint · No heat source, no running water	Major	$15,000–50,000
HVAC/mechanicals · No heat source, no running water	Major	$15,000–50,000
Total estimated repair cost · 7 items		$105,000–350,000

Value-add ROI direction

• Both Complete renovation and modernization of the kitchen and bathroom — Modern appliances and fixtures would attract buyers and renters ↑
• Both New roof and siding to improve curb appeal and functionality — Aesthetic and functional improvements ↑
• Both New flooring and interior paint to freshen the space — Enhances the overall appearance and appeal ↑
• Both HVAC system upgrade for comfort and energy efficiency — Improves comfort and reduces energy costs ↑
• Both Landscaping and curb appeal improvements — Enhances the property's visual appeal and marketability ↑

ⓘ 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: Whittemore-Prescott Area Schools
• NCES district ID: 2636390
• Math proficiency: 11% ▼ -12.00%
• Reading proficiency: 25% ▼ -11.00%
• Median HH income: $30,244
• Composite: 14.31/100
• National rank: #9442
• State rank: #488 of 540 in MI

Livability — Mills

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

Census & demographics

• Census place: Skidway Lake, MI
• Population (ZIP): 3,939

Population outlook (Ogemaw County) Hauer SSP2

• Today (2025): 19,373 people
• By 2030: 18,348 · -5.3%
• By 2040: 16,176 · -16.5%
• By 2050: 14,294 · -26.2%
• By 2075: 11,280 · -41.8%
• By 2100: 8,942 · -53.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 9% Lithuanian 4% Slovak 3%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Ogemaw

• 2024 margin: Solid R (+42.0) · D 28.4% · R 70.4% · Other 1.3%
• 2008→2024 swing: -44.4pp toward R · 2008: 2.4pp · 2024: -42.0pp
• All cycles: 2024: R+42.0 2020: R+40.1 2016: R+36.6 2012: R+6.2 2008: D+2.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -22.88%
• Current HPI: 213.8025
• 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

+189.5% since first listed

3 events — show timeline

• 2026-06-05 Listed $59,500 REALCOMP
• 2026-06-05 Listed $59,500 MiRealSource-MiMLS
• 2022-10-27 Sold (Public Records) $20,550 Public Records