3123 County 416 23rd Rd · Escanaba, MI 49818

$85,000

1 bd · 1.0 ba · 408 sqft · SingleFamily public records · 146 Days on market

Built 1987 2.00 ac lot

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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 +15.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.6/10.0
• 1% rule +4.1/10.0
• Livability +3.8/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

On a spacious 2-acre parcel, this 1-bedroom, 1-bath park model home is currently used as a camp and offers a simple, functional setup for recreational or seasonal use. The property is equipped with electricity, water, and a septic system. The interior features an efficient layout with a living area, kitchen space, full bathroom, and a separate bedroom. Electric space heaters provide heat. A detached one-car garage offers additional storage for vehicles, tools, or outdoor equipment. With a mix of open space and privacy, this property provides room to enjoy the outdoors while maintaining easy access and essential utilities. Ideal for a quiet getaway, recreational use, or a simple up-north escape.

Key facts

• Water
• Electricity
• Living area

Tags

• 2 ACRE PARCEL
• ELECTRICITY
• WATER
• SEPTIC SYSTEM
• EFFICIENT LAYOUT
• LIVING AREA

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $26 ($310/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 $78k (8.7% below list).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.7% vs local median 4.9% in Escanaba — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 75/100 on livability (#161 in MI, #4,089 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: crime D+, commute F, employment F.
• Gladstone Area Schools (town): math 32% / reading 45% proficiency, ranked #226 of 540 in MI (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 8 active listings in the ZIP; 38 units permitted in Delta County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($588 loan paydown + $8k appreciation (10.0% local appreciation)).
• Delta County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 146 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 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.

Recommended offer $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 146 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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.
7. 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.
8. 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: 0.91% ✗
• Cap rate: 6.66%
• Cash-on-cash: 1.30%
• DSCR: 1.06
• GRM: 9.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.2%
• Equity multiple: 3.01×
• Total profit: $47,948
• Equity at exit: $76,575

10-year hold

• IRR: 22.2%
• Equity multiple: 6.88×
• Total profit: $139,930
• Equity at exit: $165,136

Cash invested: $23,800 (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 49818

• Home prices YoY: 6.1%
• Active inventory: 8
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $776 medium
• Mortgage (P&I): −$446
• Tax est. 1.5%: −$106 /mo · $1,275/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$163
• Net cashflow: $26

Break-even live

Break-even rent $744

Max offer price $85,000

Occupancy floor 92%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $85,000 Active 146 DOM
2. 2026-06-17
   days on market $85,000 Active 145 DOM
3. 2026-06-16
   days on market $85,000 Active 144 DOM
4. 2026-06-15
   days on market $85,000 Active 143 DOM
5. 2026-06-13
   days on market $85,000 Active 141 DOM
6. 2026-06-12
   days on market $85,000 Active 140 DOM
7. 2026-06-09
   days on market $85,000 Active 137 DOM
8. 2026-06-08
   days on market $85,000 Active 136 DOM
9. 2026-06-07
   days on market $85,000 Active 135 DOM
10. 2026-06-07
    days on market $85,000 Active 134 DOM
11. 2026-06-04
    days on market $85,000 Active 131 DOM
12. 2026-06-02
    days on market $85,000 Active 130 DOM
13. 2026-06-01
    days on market $85,000 Active 129 DOM
14. 2026-05-31
    days on market $85,000 Active 128 DOM
15. 2026-05-31
    days on market $85,000 Active 127 DOM
16. 2026-01-23
    listed $85,000 Active 703-char remark

    Show marketing remark (703 chars)

    On a spacious 2-acre parcel, this 1-bedroom, 1-bath park model home is currently used as a camp and offers a simple, functional setup for recreational or seasonal use. The property is equipped with electricity, water, and a septic system. The interior features an efficient layout with a living area, kitchen space, full bathroom, and a separate bedroom. Electric space heaters provide heat. A detached one-car garage offers additional storage for vehicles, tools, or outdoor equipment. With a mix of open space and privacy, this property provides room to enjoy the outdoors while maintaining easy access and essential utilities. Ideal for a quiet getaway, recreational use, or a simple up-north escape.

17. 2026-01-23
    listed $85,000 Active 703-char remark

    Show marketing remark (703 chars)

    On a spacious 2-acre parcel, this 1-bedroom, 1-bath park model home is currently used as a camp and offers a simple, functional setup for recreational or seasonal use. The property is equipped with electricity, water, and a septic system. The interior features an efficient layout with a living area, kitchen space, full bathroom, and a separate bedroom. Electric space heaters provide heat. A detached one-car garage offers additional storage for vehicles, tools, or outdoor equipment. With a mix of open space and privacy, this property provides room to enjoy the outdoors while maintaining easy access and essential utilities. Ideal for a quiet getaway, recreational use, or a simple up-north escape.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,315
• − Mortgage interest: −$4,761
• − Property taxes: −$1,275
• − Insurance: −$425
• − Repairs & maintenance: −$745
• − Management: −$745
• − Depreciation: −$2,473
• Taxable loss: −$1,110
• Est. tax savings @ 24.0%: +$266
• After-tax cash flow: $576/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: Gladstone Area Schools
• NCES district ID: 2615970
• Math proficiency: 32% ▼ -2.00%
• Reading proficiency: 45% ▲ 1.00%
• Median HH income: $50,821
• Composite: 33.28/100
• National rank: #5510
• State rank: #226 of 540 in MI

Livability — Escanaba

• Score: 75/100
• State rank: #161
• US rank: #4089

Category grades

Amenities A+ Commute F Cost of living A+ Crime D+ Employment F Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,212

Population outlook (Delta County) Hauer SSP2

• Today (2025): 34,431 people
• By 2030: 33,003 · -4.1%
• By 2040: 29,748 · -13.6%
• By 2050: 26,753 · -22.3%
• By 2075: 20,962 · -39.1%
• By 2100: 15,616 · -54.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 6%
• Common ancestry: Lithuanian 10% English 4% Romanian 2%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Delta

• 2024 margin: Solid R (+30.4) · D 34.1% · R 64.5% · Other 1.4%
• 2008→2024 swing: -36.7pp toward R · 2008: 6.3pp · 2024: -30.4pp
• All cycles: 2024: R+30.4 2020: R+26.5 2016: R+25.4 2012: R+6.7 2008: D+6.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.26%
• Current HPI: 196.3608
• 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

+0.0% since first listed

2 events — show timeline

• 2026-01-23 Listed $85,000 UPAR
• 2026-01-23 Listed $85,000 MiRealSource-MiMLS

Property tax history

-8.8%/yr

Latest (2025): $113 · -75.2% YoY. Source: county tax records.