422 Cr-358

Daggett, MI 49821

$74,000B+

4 bd · 1.0 ba · 2,151 sqft · Built 1917 · SingleFamily · Pending

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,536/mo
• Mortgage (P&I): −$388
• Tax + insurance: −$60
• HOA: −$0
• Vac / Maint / Mgmt: −$323
• Net cashflow: $766/mo
• Annual: $9,187/yr
• Cap rate: 18.71%
• Cash-on-cash: 44.34%
• DSCR: 2.97
• 1% rule: 2.08%
• Cash to close: $20,720

Investor read

• This is a 4-bed/1.0-bath single-family listed at $74k.
• At list price, monthly cash flow is $766 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $74k).
• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $3k of equity ($512 loan paydown + $2k appreciation (2.8% local appreciation)).
• Location reads 66/100 on livability (#418 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, schools D-, crime F.
• Stephenson Area Public Schools (rural): math 39% / reading 50% proficiency, ranked #158 of 540 in MI (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1917 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 5 active listings in the ZIP; 26 units permitted in Menominee County in 2024 (0 in 5+ unit buildings).
• Menominee County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.8% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1917 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?
• 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.