9502 B Montana St Lot : 542 · Au Sable, MI 48750

$124,900

3 bd · 1.5 ba · 1,262 sqft · SingleFamily · 11 Days on market

Built 1960 Good condition 6,098 sqft lot Est $101k · 24% over $77/mo HOA · 6% of rent

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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 +14.8/30.0
• 1% rule +4.9/10.0
• DSCR +4.5/10.0
• Condition / age +3.8/5.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

New listing at the Villages of Oscoda, three bedroom 1.5 bath deluxe town home for sale. Pecan Hardwood flooring is found on the lower level as well as upstairs. This home offers central air and vinyl windows! A fresh coat of paint is an added bonus. The basement contains the laundry area and lots of storage space. The location has a large common park area immediately behind the home providing some privacy. A two car attached garage with an automatic opener and a door directly into the home is another great feature. The AuSable River is also just a short distance from this location. If you're looking for a year around home, weekend retreat or perhaps an investment property this location has

Key facts

• Vinyl windows
• Attached garage
• Central air

Tags

• PECAN HARDWOOD FLOORING
• CENTRAL AIR
• VINYL WINDOWS
• ATTACHED GARAGE
• SEVERAL FANTASTIC GOLF COURSES

Property features AI

Finance

• HOA & community: Monthly association fee of $77; Association covers lawn maintenance and trash removal; Community grounds maintenance

Exterior

• Parking: 2 parking spaces in garage
• Utilities: Public water; Community sewer; Cable available; Natural gas
• Home design: Residential site condominium; Two-story structure; Built in 1960; Unit/building identified as Lot 542
• Construction: Poured foundation
• Exterior features: Shed (outbuilding)

Interior

• Kitchen: Dishwasher; Microwave; Range/Oven; Refrigerator; Kitchen on main level — 11 x 10, laminate floors; Dining room on main level — 12 x 9, wood floors
• Bedrooms: Upper-level bedroom — 12 x 10, wood floors; Upper-level bedroom — 10 x 9, wood floors; Upper-level bedroom — 10 (width listed as 10), wood floors
• Flooring: Wood flooring in living room, dining room, and bedrooms; Laminate flooring in kitchen; Concrete flooring in laundry room
• Bathrooms: Two total bathrooms (one main level, one upper level); One lavatory
• Heating & cooling: Forced air heating; Natural gas heat
• Interior features: Sidewalks; Poured basement
• Laundry & utility: Laundry room on lower level — concrete floor

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $125k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $33 ($400/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $123k (1.3% below list).
• Recommended offer: $123k (1.3% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 3.1% in Au Sable — 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 65/100 on livability (#449 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety C-, amenities F, commute F.
• Oscoda Area Schools (rural): math 31% / reading 38% proficiency, ranked #313 of 540 in MI (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Richardson Elementary School (math 37% / reading 35%, grade F, #725 of 1,397 statewide, top 52%, 672 students, 68% FRL); Oscoda Area High School (math 22% / reading 42%, grade F, #405 of 713 statewide, top 59%, 477 students, 64% FRL).
• Market conditions: 134 active listings in the ZIP; 58 units permitted in Iosco County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Iosco County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $123,230 (1.3% below list)

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
6. 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.
7. 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.
8. 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: 0.99% ✗
• Cap rate: 6.61%
• Cash-on-cash: 1.14%
• DSCR: 1.05
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $100,960
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9502 B Montana St	0.00mi	3/1.5	1,262 (0%)	0mo	$125,000	$99	100
9502 B Montana St Lot : 542	0.00mi	3/1.5	1,262 (0%)	0mo	$125,000	$99	100
9306 Maryland St	0.12mi	3/1.5	1,274 (+1%)	1mo	$102,000	$80	92
9306 Maryland St Unit A	0.12mi	3/1.5	1,274 (+1%)	1mo	$102,000	$80	92
10001 8th St	0.42mi	3/1.5	1,170 (-7%)	3mo	$141,500	$121	66
8005B N Alaska St	0.60mi	3/1.5	1,328 (+5%)	2mo	$105,000	$79	61
8005B N Alaska St #15	0.60mi	3/1.5	1,328 (+5%)	2mo	$105,000	$79	61
10409 South Carolina St	0.25mi	3/1.5	1,170 (-7%)	21mo	$130,000	$111	59
8013 S Alaska St	0.60mi	3/1.5	1,255 (-1%)	21mo	$96,000	$76	54
8013 S Alaska St Unit A	0.60mi	3/1.5	1,255 (-1%)	21mo	$96,000	$76	54
10038 8th St	0.57mi	3/1.5	1,170 (-7%)	16mo	$139,900	$120	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: -14.4%
• Equity multiple: 0.48×
• Total profit: $-18,048
• Equity at exit: $18,623

10-year hold

• IRR: -5.6%
• Equity multiple: 0.64×
• Total profit: $-12,712
• Equity at exit: $10,799

Cash invested: $34,972 (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 48750

• Active inventory: 134
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,232 medium
• Mortgage (P&I): −$655
• Tax est. 1.5%: −$156 /mo · $1,874/yr
• Insurance: −$52
• HOA: −$77
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $33

Break-even live

Break-even rent $1,190

Max offer price $124,900

Occupancy floor 92%

Sensitivity live

Price	-10% $120	-5% $77	+0% $33	+5% $-10	+10% $-53
Rent	-10% $-64	-5% $-15	+0% $33	+5% $82	+10% $131
Rate	-1.0pp $96	-0.5pp $65	base $33	+0.5pp $1	+1.0pp $-32

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $77 · $924/yr

Listing history 8 events

1. 2026-06-13
   statusdays on market $124,900 Pending 11 DOM
2. 2026-06-12
   days on market $124,900 Accepting Backup Offers 10 DOM
3. 2026-06-09
   statusdays on market $124,900 Accepting Backup Offers 7 DOM
4. 2026-06-08
   days on market $124,900 Active 6 DOM
5. 2026-06-07
   days on market $124,900 Active 5 DOM
6. 2026-06-07
   days on market $124,900 Active 4 DOM
7. 2026-06-03
   remarks 699-char remark
8. 2026-06-03
   listed $124,900 Active 1 DOM

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

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 ≥94°F today · 13 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: $14,788
• − Mortgage interest: −$6,996
• − Property taxes: −$1,874
• − Insurance: −$624
• − Repairs & maintenance: −$1,183
• − Management: −$1,183
• − HOA: −$924
• − Depreciation: −$3,633
• Taxable loss: −$1,630
• Est. tax savings @ 24.0%: +$391
• After-tax cash flow: $792/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 · 13 photos

Good 75/100 Cosmetic rehab

This home is in good condition with cosmetic updates needed to modernize the kitchen and bathroom. It offers a good location with a large common park area and access to the AuSable River.

Repairs flagged

• Minor kitchen backsplash — simple update to modernize
• Minor bathroom vanity — update to modern style

Value-add opportunities

• Both update kitchen backsplash — modernizes kitchen and adds value
• Both update bathroom vanity — modernizes bathroom and adds value
• Both paint exterior — enhances curb appeal and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen backsplash · simple update to modernize	Minor	$500–3,000
bathroom vanity · update to modern style	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both update kitchen backsplash — modernizes kitchen and adds value ↑
• Both update bathroom vanity — modernizes bathroom and adds value ↑
• Both paint exterior — enhances curb appeal and adds value ↑

ⓘ 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: Oscoda Area Schools
• NCES district ID: 2626970
• Math proficiency: 31% ▼ -7.00%
• Reading proficiency: 38% ▼ -9.00%
• Median HH income: $36,275
• Composite: 28.6/100
• National rank: #6714
• State rank: #313 of 540 in MI

Livability — Au Sable

• Score: 65/100
• State rank: #449
• US rank: #12590

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 9,281

Population outlook (Iosco County) Hauer SSP2

• Today (2025): 24,366 people
• By 2030: 23,622 · -3.1%
• By 2040: 22,021 · -9.6%
• By 2050: 20,877 · -14.3%
• By 2075: 18,792 · -22.9%
• By 2100: 15,465 · -36.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 11% Lithuanian 4% Italian 2%
• Foreign-born: 2% · Canada, Jamaica
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Iosco

• 2024 margin: Solid R (+30.6) · D 34.0% · R 64.5% · Other 1.5%
• 2008→2024 swing: -35.7pp toward R · 2008: 5.1pp · 2024: -30.6pp
• All cycles: 2024: R+30.6 2020: R+28.6 2016: R+30.0 2012: R+5.0 2008: D+5.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -97.75%
• Current HPI: 157.6759
• 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

• 2026-06-02 Listed $124,900 MiRealSource-MiMLS