210 Widdis Dr

Denton, MI 48651

$189,000C

2 bd · 1.0 ba · 1,040 sqft · Built 1991 · SingleFamily · Active · 128 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,820/mo
• Mortgage (P&I): −$991
• Tax + insurance: −$183
• HOA: −$0
• Vac / Maint / Mgmt: −$382
• Net cashflow: $264/mo
• Annual: $3,169/yr
• Cap rate: 7.97%
• Cash-on-cash: 5.99%
• DSCR: 1.27
• 1% rule: 0.96%
• Cash to close: $52,920

Investor read

• This is a 2-bed/1.0-bath single-family listed at $189k.
• At list price, monthly cash flow is $264 ($3k/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 $182k (3.7% below list).
• It's been on market 128 days — a 12% lower offer ($166k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $166k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Houghton Lake Community Schools (rural): math 18% / reading 36% proficiency, ranked #410 of 540 in MI (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Houghton Lake Jrsr High School (math 17% / reading 37%, grade F, #462 of 713 statewide, top 66%, 511 students, 71% FRL).
• Market conditions: 86 active listings in the ZIP; 73 units permitted in Roscommon County in 2024 (0 in 5+ unit buildings).
• Roscommon County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $67k; list at $189k implies a 183% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• It's been on market 128 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.