2540 S 39 Rd · Haring, MI 49601

$99,000

3 bd · 2.0 ba · 1,195 sqft · SingleFamily · 40 Days on market

Built 2001 0.48 ac lot $83/sqft · 54% below area

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Why this score? — see what drove the B- 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 +9.2/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 bedroom 2 bath home in convenient location close to the North end of Cadillac. Home is situated on almost half an acre which gives you room to add a garage. Besides being close to town home has natural gas and is on a blacktop road.

Key facts

• Almost half an acre
• Convenient location
• Natural gas

Tags

• CONVENIENT LOCATION
• ALMOST HALF AN ACRE
• NATURAL GAS
• BLACKTOP ROAD

Property features AI

Exterior

• Utilities: Private well water; Septic tank sewer
• Home design: Single-family residence; One level
• Construction: Vinyl siding; Built above grade (finished area listed); Crawl space foundation
• Exterior features: Lot approximately 0.48 acres; Lot dimensions roughly 116.58 x 180; Residential zoning; Located in Sundstrom's Pine Knoll #2 subdivision

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Crawl space basement; Total of 4 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $470 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $96k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#514 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A, housing B+; Watch: employment D, schools F, crime F.
• Cadillac Area Public Schools (town): math 45% / reading 53% proficiency, ranked #120 of 540 in MI (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 218 active listings in the ZIP; 130 units permitted in Wexford County in 2024 (50 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Wexford County population projected at -15% 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 $28k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $21k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $96,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is F 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?
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: 1.42% ✓
• Cap rate: 11.99%
• Cash-on-cash: 20.35%
• DSCR: 1.91
• GRM: 5.9

CMA / ARV

• ARV (median comp): $213,331
• List price: $99,000
• Delta: -53.59%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7392 Hickory Ct	0.39mi	3/2.0	1,296 (+8%)	23mo	$272,000	$210	48
7392 Hickory Ct Lot : 74	0.39mi	3/2.0	1,296 (+8%)	23mo	$272,000	$210	48

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 12.6%
• Equity multiple: 1.50×
• Total profit: $13,894
• Equity at exit: $14,761

10-year hold

• IRR: 21.5%
• Equity multiple: 2.83×
• Total profit: $50,634
• Equity at exit: $8,560

Cash invested: $27,720 (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 49601

• Home prices YoY: -19.9%
• Active inventory: 218
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,408 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$82 /mo · $984/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $470

Break-even live

Break-even rent $813

Max offer price $99,000

Occupancy floor 62%

Sensitivity live

Price	-10% $526	-5% $498	+0% $470	+5% $442	+10% $414
Rent	-10% $359	-5% $414	+0% $470	+5% $526	+10% $581
Rate	-1.0pp $520	-0.5pp $495	base $470	+0.5pp $444	+1.0pp $418

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-09
   statusdays on market $99,000 Pending 40 DOM

   Show marketing remark (234 chars)

   3 bedroom 2 bath home in convenient location close to the North end of Cadillac. Home is situated on almost half an acre which gives you room to add a garage. Besides being close to town home has natural gas and is on a blacktop road.

2. 2026-06-08
   days on market $99,000 Active 39 DOM
3. 2026-06-07
   days on market $99,000 Active 38 DOM
4. 2026-06-07
   days on market $99,000 Active 37 DOM
5. 2026-06-04
   days on market $99,000 Active 34 DOM
6. 2026-06-03
   price $99,000 Active 33 DOM

   Show marketing remark (234 chars)

   3 bedroom 2 bath home in convenient location close to the North end of Cadillac. Home is situated on almost half an acre which gives you room to add a garage. Besides being close to town home has natural gas and is on a blacktop road.

7. 2026-06-02
   days on market $120,000 Active 33 DOM
8. 2026-06-01
   days on market $120,000 Active 32 DOM
9. 2026-05-31
   days on market $120,000 Active 31 DOM
10. 2026-05-31
    days on market $120,000 Active 30 DOM
11. 2026-04-29
    listed $120,000 Active 234-char remark

    Show marketing remark (234 chars)

    3 bedroom 2 bath home in convenient location close to the North end of Cadillac. Home is situated on almost half an acre which gives you room to add a garage. Besides being close to town home has natural gas and is on a blacktop road.

12. 2026-04-29
    listed $120,000 Active 234-char remark

    Show marketing remark (234 chars)

    3 bedroom 2 bath home in convenient location close to the North end of Cadillac. Home is situated on almost half an acre which gives you room to add a garage. Besides being close to town home has natural gas and is on a blacktop road.

13. 2022-08-23
    soldstatus $86,408

    Show marketing remark (62 chars)

    3 Bedroom 2 bath home minutes to Cadillac's North end of town.

14. 2022-08-23
    soldstatus $86,408

    Show marketing remark (62 chars)

    3 Bedroom 2 bath home minutes to Cadillac's North end of town.

15. 2022-08-23
    soldstatus $86,408

    Show marketing remark (62 chars)

    3 Bedroom 2 bath home minutes to Cadillac's North end of town.

16. 2022-08-22
    listed $87,500

    Show marketing remark (62 chars)

    3 Bedroom 2 bath home minutes to Cadillac's North end of town.

17. 2022-08-22
    listed $87,500

    Show marketing remark (62 chars)

    3 Bedroom 2 bath home minutes to Cadillac's North end of town.

18. 2017-04-01
    soldstatus $35,500
19. 1991-09-03
    soldstatus $11,000

ⓘ 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: $984 · $82/mo
• Projected year-2 tax: $1,254 · $105/mo
• Expected delta: +$270/yr (+$23/mo · 27.5%)

ⓘ 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 1/10 Low 7 d/yr ≥93°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,899
• − Mortgage interest: −$5,546
• − Property taxes: −$984
• − Insurance: −$495
• − Repairs & maintenance: −$1,352
• − Management: −$1,352
• − Depreciation: −$2,880
• Taxable income: $4,291
• Est. tax owed @ 24.0%: −$1,030
• After-tax cash flow: $4,611/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: Cadillac Area Public Schools
• NCES district ID: 2607590
• Math proficiency: 45% ▼ -6.00%
• Reading proficiency: 53% ▼ -4.00%
• Median HH income: $41,543
• Composite: 41.12/100
• National rank: #3562
• State rank: #120 of 540 in MI

Livability — Haring

• Score: 63/100
• State rank: #514
• US rank: #15443

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 22,121

Population outlook (Wexford County) Hauer SSP2

• Today (2025): 32,399 people
• By 2030: 31,692 · -2.2%
• By 2040: 29,789 · -8.1%
• By 2050: 27,473 · -15.2%
• By 2075: 21,822 · -32.6%
• By 2100: 15,237 · -53.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 2% Black 1%
• Common ancestry: Iranian 7% Romanian 6% Lithuanian 4%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Wexford

• 2024 margin: Solid R (+34.6) · D 32.0% · R 66.6% · Other 1.5%
• 2008→2024 swing: -30.4pp toward R · 2008: -4.2pp · 2024: -34.6pp
• All cycles: 2024: R+34.6 2020: R+34.3 2016: R+36.4 2012: R+16.3 2008: R+4.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -85.43%
• Current HPI: 344.1577
• 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

+800.0% since first listed

13 events — show timeline

• 2026-06-09 Pending — REALCOMP
• 2026-06-09 Pending — MiRealSource-MiMLS
• 2026-06-03 Price Changed $99,000 MiRealSource-MiMLS
• 2026-06-02 Price Changed $99,000 REALCOMP
• 2026-04-29 Listed $120,000 MiRealSource-MiMLS
• 2026-04-29 Listed $120,000 REALCOMP
• 2022-08-23 Sold (Public Records) $86,408 Public Records
• 2022-08-23 Sold (MLS) $86,408 REALCOMP
• 2022-08-23 Sold (MLS) $86,408 MiRealSource-MiMLS
• 2022-08-22 Listed $87,500 REALCOMP
• 2022-08-22 Listed $87,500 MiRealSource-MiMLS
• 2017-04-01 Sold (Public Records) $35,500 Public Records
• 1991-09-03 Sold (Public Records) $11,000 Public Records

Property tax history

-1.6%/yr

Latest (2025): $984 · +2.8% YoY. Source: county tax records.