12328-Unit 335B Crystal Mountain Dr Unit 335B · Crystal Mountain, MI 49683

$209,000

2 bd · 2.0 ba · 1,121 sqft · Condo · 763 Days on market

Built 2002 $399/mo HOA · 18% of rent

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Why this score? — see what drove the D- 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 +12.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• DSCR +3.6/10.0
• Schools +3.3/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

You’ll absolutely love this 2-bedroom, 2-bath residence, located at the base of the Buck ski slope with views of the 10th hole of our Betsie Valley course. Enjoy the spacious feel of the 10' ceilings, the expansive living area with fireplace and the two master suite layout, both with king beds. Additionally, one of the suites has a twin trundle bed. The recently updated kitchen features quartz countertops and stainless steel appliances. A fractional quarter-share, all-season residence with private, locked owner storage and attractive rental potential. Convenient access to Crystal's award-winning spa, restaurants, and base area activities. Professional rental management pr

Key facts

• Master suite layout
• Quartz countertops
• Mountain views

Tags

• MOUNTAIN VIEWS
• QUARTZ COUNTERTOPS
• MASTER SUITE LAYOUT

Property features AI

Finance

• Other: Subdivision: Kinlochen; Directions: M-115 to Crystal Mountain Drive
• HOA & community: Monthly association fee of $399; Association covers lawn maintenance, snow removal, trash removal, water/sewer and heating; Community amenities include exercise facility, grounds maintenance, golf course access, pool/hot tub, tennis courts, pet-friendly, ski access

Exterior

• Utilities: Cable available; LP / propane gas heating fuel; Propane hot water heater; Community well water; Septic sewer
• Home design: Condominium; More than two stories; Unit number 335B
• Construction: Built in 2002
• Exterior features: Stone and wood exterior; Lawn sprinkler; Sidewalks; Located on a golf course

Interior

• Kitchen: Dishwasher; Garbage disposal; Microwave; Range/oven; Refrigerator; Laminate kitchen flooring
• Bedrooms: Main level bedrooms (Bedroom 1 ~21 x 12, Bedroom 2 ~22 x 13) — carpeted
• Flooring: Carpet in bedrooms; Laminate in living room and kitchen
• Bathrooms: Two full bathrooms; Primary bathroom included
• Heating & cooling: Forced-air heating; Central air conditioning; Exhaust fan
• Interior features: Gas fireplace; Spa / jetted tub; Window treatments
• Laundry & utility: Block basement

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $209k.

Deal economics

• At list price, monthly cash flow is $-49 ($-585/yr) — negative.
• To cash-flow at today's rent, offer at most $202k (3.4% below list).
• Meets the 1% rule at list price ($2k rent vs $209k).
• Recommended offer: $184k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.0% vs local median 2.4% in Crystal Mountain — 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 52/100 on livability (#682 in MI) — a working-class tenant base; expect higher turnover. Strengths: housing A+, crime A; Watch: amenities F, commute F, employment F.
• Benzie County Central Schools (rural): math 33% / reading 44% proficiency, ranked #234 of 540 in MI (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 58 active listings in the ZIP; 110 units permitted in Benzie 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 $6k of value loss. Plan a longer hold.
• Benzie County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 763 days — a 12% lower offer ($184k) is reasonable based on typical stale-listing flexibility.

Recommended offer $183,920 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 763 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.09% ✓
• Cap rate: 6.01%
• Cash-on-cash: -1.00%
• DSCR: 0.96
• GRM: 7.7

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: -17.8%
• Equity multiple: 0.37×
• Total profit: $-36,691
• Equity at exit: $31,163

10-year hold

• IRR: -9.6%
• Equity multiple: 0.41×
• Total profit: $-34,810
• Equity at exit: $18,071

Cash invested: $58,520 (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 49683

• Home prices YoY: -33.9%
• Active inventory: 58
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,272 medium
• Mortgage (P&I): −$1,096
• Tax est. 1.5%: −$261 /mo · $3,135/yr
• Insurance: −$87
• HOA: −$399
• Vacancy / Maint / Mgmt: −$477
• Net cashflow: $-49

Break-even live

Break-even rent $2,333

Max offer price $201,949

Occupancy floor 97%

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: $52,250
• Closing costs: $6,270
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $399 · $4,788/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-19
   days on market $209,000 Active 763 DOM
2. 2026-06-18
   days on market $209,000 Active 762 DOM
3. 2026-06-17
   days on market $209,000 Active 761 DOM
4. 2026-06-16
   days on market $209,000 Active 760 DOM
5. 2026-06-15
   days on market $209,000 Active 759 DOM
6. 2026-06-14
   days on market $209,000 Active 757 DOM
7. 2026-06-12
   days on market $209,000 Active 756 DOM
8. 2026-06-09
   days on market $209,000 Active 753 DOM
9. 2026-06-08
   days on market $209,000 Active 752 DOM
10. 2026-06-07
    days on market $209,000 Active 751 DOM
11. 2026-06-05
    days on market $209,000 Active 748 DOM
12. 2026-06-03
    days on market $209,000 Active 747 DOM
13. 2026-06-02
    days on market $209,000 Active 746 DOM
14. 2026-06-01
    days on market $209,000 Active 745 DOM
15. 2026-05-31
    days on market $209,000 Active 744 DOM
16. 2026-05-30
    days on market $209,000 Active 743 DOM
17. 2024-05-17
    listed $209,000 Active

ⓘ 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 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥94°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,260
• − Mortgage interest: −$11,707
• − Property taxes: −$3,135
• − Insurance: −$1,045
• − Repairs & maintenance: −$2,181
• − Management: −$2,181
• − HOA: −$4,788
• − Depreciation: −$6,080
• Taxable loss: −$3,857
• Est. tax savings @ 24.0%: +$926
• After-tax cash flow: $341/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: Benzie County Central Schools
• NCES district ID: 2604950
• Math proficiency: 33% ▼ -2.00%
• Reading proficiency: 44% ▼ -2.00%
• Median HH income: $46,158
• Composite: 32.84/100
• National rank: #5616
• State rank: #234 of 540 in MI

Livability — Crystal Mountain

• Score: 52/100
• State rank: #682
• US rank: #24757

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Crystal Mountain, MI
• Population (ZIP): 2,070

Population outlook (Benzie County) Hauer SSP2

• Today (2025): 17,179 people
• By 2030: 16,774 · -2.4%
• By 2040: 15,308 · -10.9%
• By 2050: 13,594 · -20.9%
• By 2075: 11,015 · -35.9%
• By 2100: 8,181 · -52.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Native American 2%
• Common ancestry: Romanian 8% Iranian 6% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Other Indo-European 1% Spanish 0%

Political lean MEDSL · Benzie

• 2024 margin: Lean R (+8.7) · D 45.0% · R 53.7% · Other 1.3%
• 2008→2024 swing: -16.1pp toward R · 2008: 7.4pp · 2024: -8.7pp
• All cycles: 2024: R+8.7 2020: R+9.1 2016: R+14.0 2012: R+3.9 2008: D+7.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -90.79%
• Current HPI: 176.9311
• 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

1 event — show timeline

• 2024-05-17 Listed $209,000 MiRealSource-MiMLS