11624 Delbert Dr · Gaastra, MI 54542

$111,000

2 bd · 1.0 ba · 980 sqft · Other · 53 Days on market

Built 1992 3.00 ac lot $113/sqft · 57% below area

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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 +12.8/30.0
• Appreciation +9.5/10.0
• ARV discount +7.5/15.0
• DSCR +3.8/10.0
• Schools +3.4/10.0
• Livability +3.2/5.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Hey outdoor lovers! If you’re a hunting or nature fan, this spot is a dream come true! Endless wildlife, lakes just a hop, skip & a jump away for fishing & boating or simply a place to relax on the weekends in the tranquil Northwoods of Northern Wisconsin. Turnkey property is ready to go, featuring 3 acres of land, 2-bedroom, 1 bath seasonal home with all furnishings, well & septic, garage with additional storage space & older pontoon boat. Plus, you will find easy access to snowmobile & ATV trails, near public land, the Brule River & the Michigan border that offer additional recreational opportunities. It is also a parklike setting with a beautifully landscaped firepit area by Duck Creek, which meanders through the property. There is even a hunting blind nestled in this wooded area, surrounded by a mix of hardwoods and pines. It’s the perfect spot for any outdoor enthusiast. This is a fantastic deal that won’t last forever!

Key facts

• 3 acres of land
• Near public land
• Hunting blind

Tags

• 3 ACRES OF LAND
• EASY ACCESS TO ATV TRAILS
• NEAR PUBLIC LAND
• HUNTING BLIND
• LANDSCAPED FIREPIT AREA

Property features AI

Finance

• Other: Approximately 3 acres; Frontage approx. 450 (feet); Zoning: Other; Property located in a rural township (Florence T-WI)

Exterior

• Parking: Detached garage with workshop; Garage has electric and door opener; Garage dimensions approx. 24 x 30; 2 parking spaces in garage
• Utilities: Drilled well water; Septic system; Electricity connected (circuit breakers); Sewer connected; Propane tank owned; LP/Propane gas heat source
• Home design: Single-story manufactured home (single wide, manufactured after 1976); 1992 construction; Facing north (side of street: N); Residential property
• Construction: Metal siding exterior; Slab foundation; Outbuildings include garage(s) and an outhouse
• Exterior features: Deck; Patio; Creek/stream on the property; River and rural views; Treed site; Dead-end private gravel road access (year-round); Easement

Interior

• Kitchen: Eat-in kitchen (12 x 14) with linoleum flooring; Range/Oven; Refrigerator; Water softener (owned)
• Bedrooms: Main-level bedroom (10 x 14) with carpet; Main-level bedroom (10 x 9)
• Flooring: Carpet in living room and primary bedroom; Linoleum in kitchen and bathroom
• Bathrooms: One full bathroom on the main floor with linoleum flooring
• Heating & cooling: Wall heat; Central A/C; Electric water heater
• Interior features: Window treatments; Furnished; Breezeway; Living room; Eat-in kitchen; Main floor full bathroom
• Laundry & utility: Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $111k.

Deal economics

• At list price, monthly cash flow is $-11 ($-126/yr) — negative.
• To cash-flow at today's rent, offer at most $109k (1.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $89k (20.2% below list).
• Recommended offer: $89k (20.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#509 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, crime F, amenities F.
• Florence County School District (rural): math 35% / reading 40% proficiency, ranked #293 of 426 in WI (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 38 units permitted in Florence County in 2024 (5 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($767 loan paydown + $10k appreciation (8.9% local appreciation)).
• Florence County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.9% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 12y ago 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.
• Current owner paid $82k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $88,528 (20.2% 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 53 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.80% ✗
• Cap rate: 6.18%
• Cash-on-cash: -0.41%
• DSCR: 0.98
• GRM: 10.4

CMA / ARV

• ARV (median comp): $257,351
• List price: $111,000
• Delta: -56.87%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

8.91% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.7%
• Equity multiple: 2.66×
• Total profit: $51,612
• Equity at exit: $91,328

10-year hold

• IRR: 19.7%
• Equity multiple: 5.85×
• Total profit: $150,857
• Equity at exit: $188,400

Cash invested: $31,080 (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 54542

• Home prices YoY: 5.1%
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $885 medium
• Mortgage (P&I): −$582
• Tax from tax record: −$82 /mo · $979/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$186
• Net cashflow: $-11

Break-even live

Break-even rent $899

Max offer price $109,141

Occupancy floor 96%

Sensitivity live

Price	-10% $52	-5% $21	+0% $-11	+5% $-42	+10% $-73
Rent	-10% $-80	-5% $-45	+0% $-11	+5% $24	+10% $59
Rate	-1.0pp $45	-0.5pp $18	base $-11	+0.5pp $-39	+1.0pp $-69

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: $27,750
• Closing costs: $3,330
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-21
   days on market $111,000 Active 53 DOM
2. 2026-06-21
   days on market $111,000 Active 52 DOM
3. 2026-06-18
   days on market $111,000 Active 50 DOM
4. 2026-06-17
   days on market $111,000 Active 49 DOM
5. 2026-06-16
   days on market $111,000 Active 48 DOM
6. 2026-06-15
   days on market $111,000 Active 47 DOM
7. 2026-06-15
   days on market $111,000 Active 46 DOM
8. 2026-06-13
   days on market $111,000 Active 45 DOM
9. 2026-06-12
   days on market $111,000 Active 44 DOM
10. 2026-06-09
    days on market $111,000 Active 41 DOM
11. 2026-06-08
    days on market $111,000 Active 40 DOM
12. 2026-06-08
    days on market $111,000 Active 39 DOM
13. 2026-06-05
    days on market $111,000 Active 37 DOM
14. 2026-06-03
    days on market $111,000 Active 35 DOM
15. 2026-06-02
    days on market $111,000 Active 34 DOM
16. 2026-06-02
    price $111,000 Active 33 DOM
17. 2026-06-01
    days on market $114,900 Active 33 DOM

    Show marketing remark (992 chars)

    Hey outdoor lovers! If you’re a hunting or nature fan, this spot is a dream come true! Endless wildlife, lakes just a hop, skip & a jump away for fishing & boating or simply a place to relax on the weekends in the tranquil Northwoods of Northern Wisconsin. Turnkey property is ready to go, featuring 3 acres of land, 2-bedroom, 1 bath seasonal home with all furnishings, well & septic, garage with additional storage space & older pontoon boat. Plus, you will find easy access to snowmobile & ATV trails, near public land, the Brule River & the Michigan border that offer additional recreational opportunities. It is also a parklike setting with a beautifully landscaped firepit area by Duck Creek, which meanders through the property. There is even a hunting blind nestled in this wooded area, surrounded by a mix of hardwoods and pines. It’s the perfect spot for any outdoor enthusiast. This is a fantastic deal that won’t last forever!

18. 2026-05-31
    days on market $114,900 Active 32 DOM
19. 2026-04-28
    listed $114,900 Active 992-char remark

    Show marketing remark (992 chars)

    Hey outdoor lovers! If you’re a hunting or nature fan, this spot is a dream come true! Endless wildlife, lakes just a hop, skip & a jump away for fishing & boating or simply a place to relax on the weekends in the tranquil Northwoods of Northern Wisconsin. Turnkey property is ready to go, featuring 3 acres of land, 2-bedroom, 1 bath seasonal home with all furnishings, well & septic, garage with additional storage space & older pontoon boat. Plus, you will find easy access to snowmobile & ATV trails, near public land, the Brule River & the Michigan border that offer additional recreational opportunities. It is also a parklike setting with a beautifully landscaped firepit area by Duck Creek, which meanders through the property. There is even a hunting blind nestled in this wooded area, surrounded by a mix of hardwoods and pines. It’s the perfect spot for any outdoor enthusiast. This is a fantastic deal that won’t last forever!

20. 2026-04-28
    listed $114,900 Active 994-char remark

    Show marketing remark (992 chars)

    Hey outdoor lovers! If you’re a hunting or nature fan, this spot is a dream come true! Endless wildlife, lakes just a hop, skip & a jump away for fishing & boating or simply a place to relax on the weekends in the tranquil Northwoods of Northern Wisconsin. Turnkey property is ready to go, featuring 3 acres of land, 2-bedroom, 1 bath seasonal home with all furnishings, well & septic, garage with additional storage space & older pontoon boat. Plus, you will find easy access to snowmobile & ATV trails, near public land, the Brule River & the Michigan border that offer additional recreational opportunities. It is also a parklike setting with a beautifully landscaped firepit area by Duck Creek, which meanders through the property. There is even a hunting blind nestled in this wooded area, surrounded by a mix of hardwoods and pines. It’s the perfect spot for any outdoor enthusiast. This is a fantastic deal that won’t last forever!

21. 2026-04-28
    listed $114,900 Active 994-char remark

    Show marketing remark (992 chars)

    Hey outdoor lovers! If you’re a hunting or nature fan, this spot is a dream come true! Endless wildlife, lakes just a hop, skip & a jump away for fishing & boating or simply a place to relax on the weekends in the tranquil Northwoods of Northern Wisconsin. Turnkey property is ready to go, featuring 3 acres of land, 2-bedroom, 1 bath seasonal home with all furnishings, well & septic, garage with additional storage space & older pontoon boat. Plus, you will find easy access to snowmobile & ATV trails, near public land, the Brule River & the Michigan border that offer additional recreational opportunities. It is also a parklike setting with a beautifully landscaped firepit area by Duck Creek, which meanders through the property. There is even a hunting blind nestled in this wooded area, surrounded by a mix of hardwoods and pines. It’s the perfect spot for any outdoor enthusiast. This is a fantastic deal that won’t last forever!

22. 2015-12-15
    soldstatus $81,666 Sold
23. 2015-12-02
    soldstatus $39,000 Sold
24. 2015-12-02
    soldstatus $39,000
25. 2015-11-09
    status Pending
26. 2015-08-12
    listed $42,000 Active
27. 2015-08-12
    listed $42,000
28. 2015-07-16
    historical
29. 2015-03-25
    price $47,000
30. 2014-09-19
    price $49,500
31. 2014-09-04
    listed $51,500 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: $979 · $82/mo
• Projected year-2 tax: $1,344 · $112/mo
• Expected delta: +$365/yr (+$30/mo · 37.3%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥91°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: $10,623
• − Mortgage interest: −$6,218
• − Property taxes: −$979
• − Insurance: −$555
• − Repairs & maintenance: −$850
• − Management: −$850
• − Depreciation: −$3,229
• Taxable loss: −$2,057
• Est. tax savings @ 24.0%: +$494
• After-tax cash flow: $367/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: Florence County School District
• NCES district ID: 5504650
• Math proficiency: 35% ▬ 0.00%
• Reading proficiency: 40% ▬ 0.00%
• Median HH income: $45,179
• Composite: 34.48/100
• National rank: #10144
• State rank: #293 of 426 in WI

Livability — Gaastra

• Score: 63/100
• State rank: #509
• US rank: #15178

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 615

Population outlook (Florence County) Hauer SSP2

• Today (2025): 4,537 people
• By 2030: 4,511 · -0.6%
• By 2040: 4,301 · -5.2%
• By 2050: 3,904 · -14.0%
• By 2075: 3,192 · -29.6%
• By 2100: 2,459 · -45.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Two or more races 20%
• Common ancestry: Romanian 8% Portuguese 8% Iranian 4%

Political lean MEDSL · Florence

• 2024 margin: Solid R (+49.8) · D 24.8% · R 74.6%
• 2008→2024 swing: -35.7pp toward R · 2008: -14.1pp · 2024: -49.8pp
• All cycles: 2024: R+49.8 2020: R+46.0 2016: R+46.4 2012: R+26.4 2008: R+14.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.91%
• Current HPI: 184.9568
• 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

+115.5% since first listed

16 events — show timeline

• 2026-06-01 Price Changed $111,000 MiRealSource-MiMLS
• 2026-06-01 Price Changed $111,000 UPAR
• 2026-06-01 Price Changed $111,000 GNMLS
• 2026-04-28 Listed $114,900 GNMLS
• 2026-04-28 Listed $114,900 UPAR
• 2026-04-28 Listed $114,900 MiRealSource-MiMLS
• 2015-12-15 Sold (MLS) $81,666 METROMLS
• 2015-12-02 Sold (MLS) $39,000 METROMLS
• 2015-12-02 Sold (MLS) $39,000 GNMLS
• 2015-11-09 Pending — METROMLS
• 2015-08-12 Listed $42,000 METROMLS
• 2015-08-12 Listed $42,000 GNMLS
• 2015-07-16 Listing Removed — METROMLS
• 2015-03-25 Price Changed $47,000 METROMLS
• 2014-09-19 Price Changed $49,500 METROMLS
• 2014-09-04 Listed $51,500 METROMLS

Property tax history

+3.5%/yr

Latest (2025): $979 · +6.3% YoY. Source: county tax records.