1246 Sunnyside Dr Unit 102, wk 4 · Cadillac, MI 49601

$29,995

2 bd · 2.0 ba · 998 sqft · Condo · 64 Days on market

Built 2001 Good condition $30/sqft · 70% below area $157/mo HOA · 14% of rent

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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
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Condition / age +4.0/5.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This beautiful 2 bedroom, 2 bath condo located on the ground floor. This is a fractional ownership opportunity that allows 6 weeks of usage per year. The condo overlooks lake Cadillac and offers 420 feet of private lake frontage to enjoy. The open concept floorplan offer sweeping views of the lake! The unit is fully furnished and ready to enjoy! The property offers other amenities such as sitting dock, boat slip (based on availability), fire pit, shared grills, access to clubhouse with indoor swimming pool, spa and workout area. Your "up North" getaway awaits!

Key facts

• Clubhouse
• Fire pit
• Sitting dock

Tags

• PRIVATE LAKE FRONTAGE
• SITTING DOCK
• BOAT SLIP
• FIRE PIT
• SHARED GRILLS
• CLUBHOUSE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $30k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $504 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $28k (6.0% below list) — sets the bar for market timing.
• Cap rate 26.5% vs local median 4.0% in Cadillac — 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 70/100 on livability (#312 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute 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; 2 comparable units currently listed for rent nearby; 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 $207 of loan paydown is wiped out by about $900 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 $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($28k) is reasonable based on typical stale-listing flexibility.

Recommended offer $28,195 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
10. 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.
11. 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.
12. 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: 3.67% ✓
• Cap rate: 26.46%
• Cash-on-cash: 72.04%
• DSCR: 4.21
• GRM: 2.3

CMA / ARV

• ARV (median comp): $99,777
• List price: $29,995
• Delta: -69.94%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 71.8%
• Equity multiple: 4.26×
• Total profit: $27,366
• Equity at exit: $4,472

10-year hold

• IRR: 75.8%
• Equity multiple: 8.82×
• Total profit: $65,640
• Equity at exit: $2,593

Cash invested: $8,399 (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: 2.3×

Monthly cashflow live

• Estimated rent: $1,099 medium
• Mortgage (P&I): −$157
• Tax est. 1.5%: −$37 /mo · $450/yr
• Insurance: −$12
• HOA: −$157
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $504

Break-even live

Break-even rent $461

Max offer price $29,995

Occupancy floor 49%

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: $7,499
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
300 Kristy Jo St Cadillac, MI	2.0	2.0	896	$1,099	$1.23	43d	1	1.16mi
213 Pearl St Unit 2W Cadillac, MI	2.0	1.0	575	$1,100	$1.91	43d	1	1.35mi

HOA detail condo

• Monthly dues: $157 · $1,884/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $29,995 Active 64 DOM
2. 2026-06-17
   days on market $29,995 Active 63 DOM
3. 2026-06-16
   days on market $29,995 Active 62 DOM
4. 2026-06-15
   days on market $29,995 Active 61 DOM
5. 2026-06-13
   days on market $29,995 Active 59 DOM
6. 2026-06-12
   days on market $29,995 Active 58 DOM
7. 2026-06-09
   days on market $29,995 Active 55 DOM
8. 2026-06-08
   days on market $29,995 Active 54 DOM
9. 2026-06-07
   days on market $29,995 Active 53 DOM
10. 2026-06-07
    days on market $29,995 Active 52 DOM
11. 2026-06-04
    days on market $29,995 Active 49 DOM
12. 2026-06-02
    days on market $29,995 Active 48 DOM
13. 2026-06-01
    days on market $29,995 Active 47 DOM
14. 2026-05-31
    days on market $29,995 Active 46 DOM
15. 2026-05-31
    days on market $29,995 Active 45 DOM
16. 2026-04-13
    listed $29,995 Active 576-char remark

    Show marketing remark (576 chars)

    This beautiful 2 bedroom, 2 bath condo located on the ground floor. This is a fractional ownership opportunity that allows 6 weeks of usage per year. The condo overlooks lake Cadillac and offers 420 feet of private lake frontage to enjoy. The open concept floorplan offer sweeping views of the lake! The unit is fully furnished and ready to enjoy! The property offers other amenities such as sitting dock, boat slip (based on availability), fire pit, shared grills, access to clubhouse with indoor swimming pool, spa and workout area. Your "up North" getaway awaits!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $13,192
• − Mortgage interest: −$1,680
• − Property taxes: −$450
• − Insurance: −$150
• − Repairs & maintenance: −$1,055
• − Management: −$1,055
• − HOA: −$1,884
• − Depreciation: −$873
• Taxable income: $6,045
• Est. tax owed @ 24.0%: −$1,451
• After-tax cash flow: $4,600/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.

Condition & rehab AI · 12 photos

Good 80/100 None rehab

This well-maintained, fully furnished 2-bedroom, 2-bath condo offers stunning lake views and is ready for immediate occupancy.

Value-add opportunities

• Both Update flooring to hardwood — Enhances curb appeal and interior aesthetics
• Both Replace kitchen appliances — Modernizes the space and appeals to buyers
• Both Paint interior walls — Freshens the space and enhances curb appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Update flooring to hardwood — Enhances curb appeal and interior aesthetics ↑
• Both Replace kitchen appliances — Modernizes the space and appeals to buyers ↑
• Both Paint interior walls — Freshens the space and enhances curb appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Cadillac

• Score: 70/100
• State rank: #312
• US rank: #7631

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cadillac, MI
• 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

1 event — show timeline

• 2026-04-13 Listed $29,995 MiRealSource-MiMLS