1350 Springwood Dr · Denton, MI 48651

$149,900

7 bd · 2.0 ba · 1,684 sqft · SingleFamily public records · 39 Days on market

Built 1962 0.59 ac lot $39/mo HOA · 2% of rent

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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 +27.4/30.0
• DSCR +9.6/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 7 bedroom, 2 bath home is just waiting for a new owner! Home needs some TLC, but would make a great investment property or forever home. Being sold As-IS. Open floor plan, large livingroom with a wood burner. 1 bedroom on the main floor and 6 more on the 2nd floor. Schedule a private tour today!

Key facts

• Two wooded lots
• Barn-style home
• Spacious open layout

Tags

• BARN-STYLE HOME
• LAKE JAMES HOA COMMUNITY
• TWO WOODED LOTS
• SPACIOUS OPEN LAYOUT
• ADDITIONAL LIVING SPACE
• PRIVATE OUTSIDE ENTRANCE

Property features AI

Finance

• HOA & community: Lake James HOA with annual fee of $464

Exterior

• Utilities: Public water; Septic system; Natural gas
• Home design: Residential property; 2-story structure; Built in 1962
• Construction: Vinyl siding construction; Crawl space foundation; Year built: 1962
• Exterior features: Vinyl siding; Interior lake frontage on Lake James; Frontage about 160 feet

Interior

• Kitchen: Kitchen on main level approximately 10 x 15
• Bedrooms: Main floor bedroom about 10 x 10; Upper-level bedroom about 7 x 7; Upper-level bedroom about 8 (width listed); Upper-level bedroom about 7 x 11; Upper-level bedroom about 7 x 9
• Bathrooms: 2 full bathrooms; Main floor bathroom approximately 7 x 10; Upper-level bathroom approximately 7 x 7
• Heating & cooling: Wall heat; Boiler; Natural gas fuel
• Interior features: 10 total rooms; Living room (main) approximately 25 x 15; Family room (main) approximately 25 x 7; Dining room (main) approximately 10 x 15

What this means for you Summary

Snapshot

• This is a 7-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $439 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $145k (3.0% 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.
• 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.
• Market conditions: 84 active listings in the ZIP; 73 units permitted in Roscommon County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Roscommon County population projected at -21% 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 $42k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 4y ago; this cycle's ask has dropped $25k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $90k; list at $150k implies a 67% gain — meaningful room to come down on a strong offer.

Recommended offer $145,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.22% ✓
• Cap rate: 9.81%
• Cash-on-cash: 12.55%
• DSCR: 1.56
• GRM: 6.8

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: 2.3%
• Equity multiple: 1.09×
• Total profit: $3,685
• Equity at exit: $22,351

10-year hold

• IRR: 11.9%
• Equity multiple: 1.94×
• Total profit: $39,258
• Equity at exit: $12,961

Cash invested: $41,972 (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 48651

• Home prices YoY: -25.6%
• Active inventory: 84
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,830 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$119 /mo · $1,433/yr
• Insurance: −$62
• HOA: −$39
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $439

Break-even live

Break-even rent $1,275

Max offer price $149,900

Occupancy floor 71%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $39 · $468/yr

Listing history 37 events

1. 2026-06-09
   days on market $149,900 Active 39 DOM
2. 2026-06-08
   days on market $149,900 Active 38 DOM
3. 2026-06-07
   days on market $149,900 Active 37 DOM
4. 2026-06-07
   days on market $149,900 Active 36 DOM
5. 2026-06-04
   days on market $149,900 Active 33 DOM
6. 2026-06-02
   days on market $149,900 Active 32 DOM
7. 2026-06-01
   days on market $149,900 Active 31 DOM
8. 2026-05-31
   days on market $149,900 Active 30 DOM
9. 2026-05-31
   days on market $149,900 Active 29 DOM
10. 2026-05-13
    price $159,900
11. 2026-05-01
    listed $175,000 Active
12. 2025-02-18
    historical
13. 2025-02-18
    price $154,900
14. 2025-02-05
    listed $164,900 Active
15. 2023-04-12
    soldstatus $90,000
16. 2023-04-07
    soldstatus $90,000 Sold 305-char remark

    Show marketing remark (305 chars)

    Charming 7 bedroom, 2 bath home is just waiting for a new owner! Home needs some TLC, but would make a great investment property or forever home. Being sold As-IS. Open floor plan, large livingroom with a wood burner. 1 bedroom on the main floor and 6 more on the 2nd floor. Schedule a private tour today!

17. 2023-04-07
    soldstatus $90,000 Closed

    Show marketing remark (305 chars)

    Charming 7 bedroom, 2 bath home is just waiting for a new owner! Home needs some TLC, but would make a great investment property or forever home. Being sold As-IS. Open floor plan, large livingroom with a wood burner. 1 bedroom on the main floor and 6 more on the 2nd floor. Schedule a private tour today!

18. 2023-04-07
    soldstatus $90,000

    Show marketing remark (305 chars)

    Charming 7 bedroom, 2 bath home is just waiting for a new owner! Home needs some TLC, but would make a great investment property or forever home. Being sold As-IS. Open floor plan, large livingroom with a wood burner. 1 bedroom on the main floor and 6 more on the 2nd floor. Schedule a private tour today!

19. 2023-04-07
    soldstatus $90,000 Closed

    Show marketing remark (305 chars)

    Charming 7 bedroom, 2 bath home is just waiting for a new owner! Home needs some TLC, but would make a great investment property or forever home. Being sold As-IS. Open floor plan, large livingroom with a wood burner. 1 bedroom on the main floor and 6 more on the 2nd floor. Schedule a private tour today!

20. 2023-04-05
    status Pending 305-char remark

    Show marketing remark (305 chars)

    Charming 7 bedroom, 2 bath home is just waiting for a new owner! Home needs some TLC, but would make a great investment property or forever home. Being sold As-IS. Open floor plan, large livingroom with a wood burner. 1 bedroom on the main floor and 6 more on the 2nd floor. Schedule a private tour today!

21. 2023-04-05
    status Pending

    Show marketing remark (305 chars)

    Charming 7 bedroom, 2 bath home is just waiting for a new owner! Home needs some TLC, but would make a great investment property or forever home. Being sold As-IS. Open floor plan, large livingroom with a wood burner. 1 bedroom on the main floor and 6 more on the 2nd floor. Schedule a private tour today!

22. 2023-02-27
    historical Accepting Backup Offers 305-char remark

    Show marketing remark (305 chars)

    Charming 7 bedroom, 2 bath home is just waiting for a new owner! Home needs some TLC, but would make a great investment property or forever home. Being sold As-IS. Open floor plan, large livingroom with a wood burner. 1 bedroom on the main floor and 6 more on the 2nd floor. Schedule a private tour today!

23. 2023-02-27
    historical Accepting Backup Offers

    Show marketing remark (305 chars)

    Charming 7 bedroom, 2 bath home is just waiting for a new owner! Home needs some TLC, but would make a great investment property or forever home. Being sold As-IS. Open floor plan, large livingroom with a wood burner. 1 bedroom on the main floor and 6 more on the 2nd floor. Schedule a private tour today!

24. 2023-02-27
    historical Active Under Contract

    Show marketing remark (305 chars)

    Charming 7 bedroom, 2 bath home is just waiting for a new owner! Home needs some TLC, but would make a great investment property or forever home. Being sold As-IS. Open floor plan, large livingroom with a wood burner. 1 bedroom on the main floor and 6 more on the 2nd floor. Schedule a private tour today!

25. 2023-02-26
    listed $99,900
26. 2022-11-28
    status Active
27. 2022-11-10
    status Pending
28. 2022-11-04
    historical Active Under Contract
29. 2022-10-31
    listed $99,900 Active
30. 2022-10-29
    listed $99,900 Active 305-char remark

    Show marketing remark (305 chars)

    Charming 7 bedroom, 2 bath home is just waiting for a new owner! Home needs some TLC, but would make a great investment property or forever home. Being sold As-IS. Open floor plan, large livingroom with a wood burner. 1 bedroom on the main floor and 6 more on the 2nd floor. Schedule a private tour today!

31. 2022-10-29
    listed $99,900 Active

    Show marketing remark (305 chars)

    Charming 7 bedroom, 2 bath home is just waiting for a new owner! Home needs some TLC, but would make a great investment property or forever home. Being sold As-IS. Open floor plan, large livingroom with a wood burner. 1 bedroom on the main floor and 6 more on the 2nd floor. Schedule a private tour today!

32. 2022-10-28
    historical
33. 2022-10-28
    historical
34. 2022-10-13
    price $99,900
35. 2022-10-13
    price $99,900
36. 2022-09-16
    listed $104,500 Active
37. 2022-09-16
    listed $104,500 Active

ⓘ 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: $1,433 · $119/mo
• Projected year-2 tax: $1,871 · $156/mo
• Expected delta: +$438/yr (+$36/mo · 30.5%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥93°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: $21,966
• − Mortgage interest: −$8,397
• − Property taxes: −$1,433
• − Insurance: −$750
• − Repairs & maintenance: −$1,757
• − Management: −$1,757
• − HOA: −$468
• − Depreciation: −$4,361
• Taxable income: $3,043
• Est. tax owed @ 24.0%: −$730
• After-tax cash flow: $4,539/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: Houghton Lake Community Schools
• NCES district ID: 2618600
• Math proficiency: 18% ▼ -7.00%
• Reading proficiency: 36% ▼ -3.00%
• Median HH income: $34,744
• Composite: 22.19/100
• National rank: #8158
• State rank: #410 of 540 in MI

Livability — Denton

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

Census & demographics

• Population (ZIP): 4,331

Population outlook (Roscommon County) Hauer SSP2

• Today (2025): 22,249 people
• By 2030: 21,206 · -4.7%
• By 2040: 19,070 · -14.3%
• By 2050: 17,564 · -21.1%
• By 2075: 15,420 · -30.7%
• By 2100: 13,168 · -40.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Romanian 9% Slovak 4% Iranian 4%
• Foreign-born: 2%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Roscommon

• 2024 margin: Solid R (+32.9) · D 32.9% · R 65.9% · Other 1.2%
• 2008→2024 swing: -35.5pp toward R · 2008: 2.5pp · 2024: -32.9pp
• All cycles: 2024: R+32.9 2020: R+30.0 2016: R+29.6 2012: R+3.9 2008: D+2.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -87.27%
• Current HPI: 252.9662
• 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

+53.0% since first listed

28 events — show timeline

• 2026-05-13 Price Changed $159,900 MiRealSource-MiMLS
• 2026-05-01 Listed $175,000 MiRealSource-MiMLS
• 2025-02-18 Listing Removed — MiRealSource-MiMLS
• 2025-02-18 Price Changed $154,900 MiRealSource-MiMLS
• 2025-02-05 Listed $164,900 MiRealSource-MiMLS
• 2023-04-12 Sold (Public Records) $90,000 Public Records
• 2023-04-07 Sold (MLS) $90,000 MiRealSource-MiMLS
• 2023-04-07 Sold (MLS) $90,000 MiRealSource-MiMLS
• 2023-04-07 Sold (MLS) $90,000 WWMLS
• 2023-04-07 Sold (MLS) $90,000 REALCOMP
• 2023-04-05 Pending — REALCOMP
• 2023-04-05 Pending — MiRealSource-MiMLS
• 2023-02-27 Contingent — REALCOMP
• 2023-02-27 Contingent — MiRealSource-MiMLS
• 2023-02-27 Contingent — WWMLS
• 2023-02-26 Listed $99,900 MiRealSource-MiMLS
• 2022-11-28 Relisted — WWMLS
• 2022-11-10 Pending — WWMLS
• 2022-11-04 Contingent — WWMLS
• 2022-10-31 Listed $99,900 WWMLS
• 2022-10-29 Listed $99,900 MiRealSource-MiMLS
• 2022-10-29 Listed $99,900 REALCOMP
• 2022-10-28 Listing Removed — MiRealSource-MiMLS
• 2022-10-28 Listing Removed — REALCOMP
• 2022-10-13 Price Changed $99,900 MiRealSource-MiMLS
• 2022-10-13 Price Changed $99,900 REALCOMP
• 2022-09-16 Listed $104,500 MiRealSource-MiMLS
• 2022-09-16 Listed $104,500 REALCOMP

Property tax history

-0.2%/yr

Latest (2025): $1,433 · +8.7% YoY. Source: county tax records.