6243 Maple St · McKinley, MI 49755

$72,000

3 bd · 2.0 ba · 3,000 sqft · SingleFamily · 50 Days on market

Built 1919 $24/sqft · 55% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +9.6/10.0
• ARV discount +7.5/15.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Renovated Church. Stained Glass Windows, 30 Ft Ceilings. New Flooring, Electrical, Plumbing, Brand new Floors. Knotty Pine Walls, New Kitchen Appliances. To Much to List. Great Potential.

Key facts

• New floors
• Remodeled church
• New plumbing

Tags

• REMODELED CHURCH
• NEW ELECTRICAL
• NEW PLUMBING
• NEW FLOORS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $72k.

Deal economics

• At list price, monthly cash flow is $506 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $72k).
• Recommended offer: $70k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Pellston Public Schools (rural): math 25% / reading 41% proficiency, ranked #322 of 540 in MI (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 12 active listings in the ZIP; 161 units permitted in Emmet County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($498 loan paydown + $7k appreciation (9.1% local appreciation)).
• Emmet County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (9.1% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 5 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 $41k; list at $72k implies a 76% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $69,840 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1919 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.85% ✓
• Cap rate: 14.72%
• Cash-on-cash: 30.11%
• DSCR: 2.34
• GRM: 4.5

CMA / ARV

• ARV (median comp): $159,900
• List price: $72,000
• Delta: -54.97%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

9.14% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 45.9%
• Equity multiple: 4.34×
• Total profit: $67,304
• Equity at exit: $60,417

10-year hold

• IRR: 40.4%
• Equity multiple: 9.53×
• Total profit: $172,060
• Equity at exit: $125,832

Cash invested: $20,160 (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 49755

• Home prices YoY: 4.8%
• Active inventory: 12
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,329 medium
• Mortgage (P&I): −$378
• Tax from tax record: −$137 /mo · $1,641/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $506

Break-even live

Break-even rent $689

Max offer price $72,000

Occupancy floor 57%

Sensitivity live

Price	-10% $547	-5% $526	+0% $506	+5% $486	+10% $465
Rent	-10% $401	-5% $453	+0% $506	+5% $558	+10% $611
Rate	-1.0pp $542	-0.5pp $524	base $506	+0.5pp $487	+1.0pp $468

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: $18,000
• Closing costs: $2,160
• Reserves months: —
• Total cash needed: —

Listing history 35 events

1. 2026-06-21
   days on market $72,000 Active 50 DOM
2. 2026-06-18
   days on market $72,000 Active 48 DOM
3. 2026-06-17
   days on market $72,000 Active 47 DOM
4. 2026-06-16
   days on market $72,000 Active 46 DOM
5. 2026-06-15
   days on market $72,000 Active 45 DOM
6. 2026-06-13
   days on market $72,000 Active 43 DOM
7. 2026-06-12
   days on market $72,000 Active 42 DOM
8. 2026-06-09
   days on market $72,000 Active 39 DOM
9. 2026-06-08
   days on market $72,000 Active 38 DOM
10. 2026-06-07
    days on market $72,000 Active 37 DOM
11. 2026-06-07
    days on market $72,000 Active 36 DOM
12. 2026-06-04
    days on market $72,000 Active 33 DOM
13. 2026-06-02
    days on market $72,000 Active 32 DOM
14. 2026-06-01
    days on market $72,000 Active 31 DOM
15. 2026-05-31
    days on market $72,000 Active 30 DOM
16. 2026-05-31
    days on market $72,000 Active 29 DOM
17. 2026-05-12
    listed $72,000 Active 70-char remark
18. 2026-04-30
    listed $72,000 Active 70-char remark
19. 2025-12-21
    listed $72,000 Active

    Show marketing remark (187 chars)

    Renovated Church. Stained Glass Windows, 30 Ft Ceilings. New Flooring, Electrical, Plumbing, Brand new Floors. Knotty Pine Walls, New Kitchen Appliances. To Much to List. Great Potential.

20. 2025-08-22
    historical
21. 2025-08-22
    historical
22. 2025-08-01
    price $89,900
23. 2025-07-31
    price $89,900
24. 2025-07-29
    price $99,900
25. 2025-07-28
    price $99,000
26. 2025-07-28
    price $99,900
27. 2025-07-28
    price $99,000
28. 2025-07-17
    price $104,900
29. 2025-07-16
    price $104,900
30. 2025-07-15
    price $114,900
31. 2025-07-14
    price $114,900
32. 2025-07-08
    listed $129,000 Active
33. 2025-07-08
    listed $129,000 Active
34. 2014-12-23
    soldstatus $41,000
35. 2014-02-13
    listed $43,900

ⓘ 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: $1,641 · $137/mo
• Projected year-2 tax: $1,641 · $137/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥90°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,953
• − Mortgage interest: −$4,033
• − Property taxes: −$1,641
• − Insurance: −$360
• − Repairs & maintenance: −$1,276
• − Management: −$1,276
• − Depreciation: −$2,095
• Taxable income: $5,272
• Est. tax owed @ 24.0%: −$1,265
• After-tax cash flow: $4,806/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: Pellston Public Schools
• NCES district ID: 2627720
• Math proficiency: 25% ▼ -3.00%
• Reading proficiency: 41% ▬ 0.00%
• Median HH income: $44,071
• Composite: 28.06/100
• National rank: #6839
• State rank: #322 of 540 in MI

Livability — McKinley

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Levering, MI
• Population (ZIP): 1,858

Population outlook (Emmet County) Hauer SSP2

• Today (2025): 33,992 people
• By 2030: 34,119 · +0.4%
• By 2040: 33,488 · -1.5%
• By 2050: 32,014 · -5.8%
• By 2075: 28,240 · -16.9%
• By 2100: 22,571 · -33.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 8% Native American 2% Asian 2%
• Common ancestry: Romanian 10% Iranian 4% Slovak 4%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Korean 1%

Political lean MEDSL · Emmet

• 2024 margin: R (+10.8) · D 43.8% · R 54.6% · Other 1.6%
• 2008→2024 swing: -6.4pp toward R · 2008: -4.4pp · 2024: -10.8pp
• All cycles: 2024: R+10.8 2020: R+11.2 2016: R+19.4 2012: R+17.1 2008: R+4.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 9.14%
• Current HPI: 201.021
• 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

+64.0% since first listed

19 events — show timeline

• 2026-06-10 Sold (MLS) — ForSaleByOwner.com
• 2026-04-30 Listed $72,000 Fizber.com
• 2025-12-21 Listed $72,000 ForSaleByOwner.com
• 2025-08-22 Listing Removed — MiRealSource-MiMLS
• 2025-08-22 Listing Removed — REALCOMP
• 2025-08-01 Price Changed $89,900 MiRealSource-MiMLS
• 2025-07-31 Price Changed $89,900 REALCOMP
• 2025-07-29 Price Changed $99,900 MiRealSource-MiMLS
• 2025-07-28 Price Changed $99,000 MiRealSource-MiMLS
• 2025-07-28 Price Changed $99,900 REALCOMP
• 2025-07-28 Price Changed $99,000 REALCOMP
• 2025-07-17 Price Changed $104,900 MiRealSource-MiMLS
• 2025-07-16 Price Changed $104,900 REALCOMP
• 2025-07-15 Price Changed $114,900 MiRealSource-MiMLS
• 2025-07-14 Price Changed $114,900 REALCOMP
• 2025-07-08 Listed $129,000 REALCOMP
• 2025-07-08 Listed $129,000 MiRealSource-MiMLS
• 2014-12-23 Sold (MLS) $41,000 WWMLS
• 2014-02-13 Listed $43,900 WWMLS

Property tax history

+5.5%/yr

Latest (2024): $1,641 · +37.7% YoY. Source: county tax records.