1193 Sand Lake Hwy · Cambridge, MI 49265

$330,000

2 bd · 2.0 ba · 2,216 sqft · SingleFamily public records · 83 Days on market

Built 1982 3.80 ac lot $149/sqft · 7% below area Est $264k · 25% over

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Why this score? — see what drove the C- 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 +25.7/30.0
• DSCR +8.6/10.0
• 1% rule +5.6/10.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home where everyday feels like a vacation! This home is within walking distance of Sand Lake and the property does have access to a public boat launch area on Pentecoste Rd. This unique home creates a warm and inviting atmosphere with its exposed wood beam ceilings, wood walls, and beautiful floors. With 3 bedrooms, the open floor plan encompasses a generous living room, dining area, kitchen, and den, all highlighted by a charming wood-burning stove. Nestled on a desirable corner lot, this property spans 3.8 acres and also includes a 2.5-car detached garage that enhances the property's unique appeal. Unwind in the peaceful wooded landscape from the large deck or enjoy the many incredible features inside this spacious home! Recent Updates Include: New roof (30-year shingles) 2022 New skylight window 2022 Installation of Leaf Guard gutters- house and garage (lifetime warranty). 2022 New garage roof 2020 In addition, this home features 447 feet of frontage on Groger/Sand Lake Hwy, allowing for the potential division into 3 sellable lots! Schedule an appointment to tour your next home!

Key facts

• 3.8 acre lot
• 2 garage spots
• Built 1982

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $330k.

Deal economics

• At list price, monthly cash flow is $793 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $330k).
• Recommended offer: $310k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Onsted Community Schools (rural): math 30% / reading 48% proficiency, ranked #210 of 540 in MI (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 54 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 137 units permitted in Lenawee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Lenawee County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($310k) is reasonable based on typical stale-listing flexibility.
• 7 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 $149k; list at $330k implies a 121% gain — meaningful room to come down on a strong offer.

Recommended offer $310,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
5. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
6. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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: 1.06% ✓
• Cap rate: 9.18%
• Cash-on-cash: 10.30%
• DSCR: 1.46
• GRM: 7.9

CMA / ARV

• ARV (median comp): $263,708
• List price: $330,000
• Delta: 25.14%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -0.9%
• Equity multiple: 0.97×
• Total profit: $-3,081
• Equity at exit: $49,204

10-year hold

• IRR: 8.8%
• Equity multiple: 1.67×
• Total profit: $61,827
• Equity at exit: $28,532

Cash invested: $92,400 (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 49265

• Home prices YoY: -19.8%
• Active inventory: 54
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $3,500 medium
• Mortgage (P&I): −$1,731
• Tax from tax record: −$104 /mo · $1,243/yr
• Insurance: −$138
• HOA: −$0
• Vacancy / Maint / Mgmt: −$735
• Net cashflow: $793

Break-even live

Break-even rent $2,496

Max offer price $330,000

Occupancy floor 72%

Sensitivity live

Price	-10% $980	-5% $887	+0% $793	+5% $700	+10% $607
Rent	-10% $517	-5% $655	+0% $793	+5% $932	+10% $1,070
Rate	-1.0pp $960	-0.5pp $877	base $793	+0.5pp $708	+1.0pp $621

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: $82,500
• Closing costs: $9,900
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5884 Rays Dr Onsted, MI	3.0	2.0	1480	$3,500	$2.36	14d	1	1.12mi

Listing history 40 events

1. 2026-06-21
   days on market $330,000 Active 83 DOM
2. 2026-06-18
   days on market $330,000 Active 81 DOM
3. 2026-06-17
   days on market $330,000 Active 80 DOM
4. 2026-06-17
   status $330,000 Active 79 DOM
5. 2026-06-09
   status $330,000 Pending 79 DOM
6. 2026-06-08
   days on market $330,000 Active 79 DOM
7. 2026-06-07
   days on market $330,000 Active 78 DOM
8. 2026-06-07
   days on market $330,000 Active 77 DOM
9. 2026-06-04
   days on market $330,000 Active 74 DOM
10. 2026-06-02
    days on market $330,000 Active 73 DOM
11. 2026-06-01
    status $330,000 Active 72 DOM
12. 2026-03-15
    listed $335,000 Active 1106-char remark

    Show marketing remark (1106 chars)

    Welcome home where everyday feels like a vacation! This home is within walking distance of Sand Lake and the property does have access to a public boat launch area on Pentecoste Rd. This unique home creates a warm and inviting atmosphere with its exposed wood beam ceilings, wood walls, and beautiful floors. With 3 bedrooms, the open floor plan encompasses a generous living room, dining area, kitchen, and den, all highlighted by a charming wood-burning stove. Nestled on a desirable corner lot, this property spans 3.8 acres and also includes a 2.5-car detached garage that enhances the property's unique appeal. Unwind in the peaceful wooded landscape from the large deck or enjoy the many incredible features inside this spacious home! Recent Updates Include: New roof (30-year shingles) 2022 New skylight window 2022 Installation of Leaf Guard gutters- house and garage (lifetime warranty). 2022 New garage roof 2020 In addition, this home features 447 feet of frontage on Groger/Sand Lake Hwy, allowing for the potential division into 3 sellable lots! Schedule an appointment to tour your next home!

13. 2026-03-15
    listed $335,000 Active 1106-char remark

    Show marketing remark (1106 chars)

    Welcome home where everyday feels like a vacation! This home is within walking distance of Sand Lake and the property does have access to a public boat launch area on Pentecoste Rd. This unique home creates a warm and inviting atmosphere with its exposed wood beam ceilings, wood walls, and beautiful floors. With 3 bedrooms, the open floor plan encompasses a generous living room, dining area, kitchen, and den, all highlighted by a charming wood-burning stove. Nestled on a desirable corner lot, this property spans 3.8 acres and also includes a 2.5-car detached garage that enhances the property's unique appeal. Unwind in the peaceful wooded landscape from the large deck or enjoy the many incredible features inside this spacious home! Recent Updates Include: New roof (30-year shingles) 2022 New skylight window 2022 Installation of Leaf Guard gutters- house and garage (lifetime warranty). 2022 New garage roof 2020 In addition, this home features 447 feet of frontage on Groger/Sand Lake Hwy, allowing for the potential division into 3 sellable lots! Schedule an appointment to tour your next home!

14. 2026-03-09
    historical $335,000 1106-char remark

    Show marketing remark (1106 chars)

    Welcome home where everyday feels like a vacation! This home is within walking distance of Sand Lake and the property does have access to a public boat launch area on Pentecoste Rd. This unique home creates a warm and inviting atmosphere with its exposed wood beam ceilings, wood walls, and beautiful floors. With 3 bedrooms, the open floor plan encompasses a generous living room, dining area, kitchen, and den, all highlighted by a charming wood-burning stove. Nestled on a desirable corner lot, this property spans 3.8 acres and also includes a 2.5-car detached garage that enhances the property's unique appeal. Unwind in the peaceful wooded landscape from the large deck or enjoy the many incredible features inside this spacious home! Recent Updates Include: New roof (30-year shingles) 2022 New skylight window 2022 Installation of Leaf Guard gutters- house and garage (lifetime warranty). 2022 New garage roof 2020 In addition, this home features 447 feet of frontage on Groger/Sand Lake Hwy, allowing for the potential division into 3 sellable lots! Schedule an appointment to tour your next home!

15. 2025-11-20
    historical
16. 2025-11-09
    price $350,000
17. 2025-11-08
    price $350,000
18. 2025-10-20
    price $359,000
19. 2025-10-19
    price $359,000
20. 2025-10-01
    price $366,000
21. 2025-10-01
    price $366,000
22. 2025-09-23
    price $373,000
23. 2025-09-23
    price $373,000
24. 2025-09-15
    price $380,000
25. 2025-09-15
    price $380,000
26. 2025-09-09
    price $383,000
27. 2025-09-09
    price $383,000
28. 2025-08-28
    price $389,000
29. 2025-08-28
    price $389,000
30. 2025-08-18
    listed $397,000 Active
31. 2025-08-18
    listed $397,000 Active
32. 2025-08-12
    historical
33. 2024-10-19
    historical
34. 2024-10-08
    listed $335,000 Active
35. 2015-04-27
    soldstatus $149,000
36. 2015-04-23
    soldstatus $149,000
37. 2015-04-23
    soldstatus $149,000
38. 2015-03-03
    historical
39. 2014-06-05
    listed $159,900
40. 2014-06-05
    listed $159,900

ⓘ 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: $1,243 · $104/mo
• Projected year-2 tax: $3,162 · $264/mo
• Expected delta: +$1,920/yr (+$160/mo · 154.5%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,000
• − Mortgage interest: −$18,485
• − Property taxes: −$1,243
• − Insurance: −$1,650
• − Repairs & maintenance: −$3,360
• − Management: −$3,360
• − Depreciation: −$9,600
• Taxable income: $4,302
• Est. tax owed @ 24.0%: −$1,032
• After-tax cash flow: $8,488/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: Onsted Community Schools
• NCES district ID: 2626520
• Math proficiency: 30% ▼ -1.00%
• Reading proficiency: 48% ▲ 3.00%
• Median HH income: $56,068
• Composite: 34.18/100
• National rank: #5273
• State rank: #210 of 540 in MI

Livability — Cambridge

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

Census & demographics

• Population (ZIP): 5,137

Population outlook (Lenawee County) Hauer SSP2

• Today (2025): 95,497 people
• By 2030: 92,722 · -2.9%
• By 2040: 85,641 · -10.3%
• By 2050: 77,971 · -18.4%
• By 2075: 60,043 · -37.1%
• By 2100: 41,468 · -56.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2% Black 1%
• Common ancestry: Romanian 8% Slovak 5% Iranian 3%
• Foreign-born: 1% · Canada

Political lean MEDSL · Lenawee

• 2024 margin: Strong R (+23.0) · D 37.8% · R 60.8% · Other 1.4%
• 2008→2024 swing: -28.1pp toward R · 2008: 5.1pp · 2024: -23.0pp
• All cycles: 2024: R+23.0 2020: R+19.9 2016: R+21.1 2012: R+1.3 2008: D+5.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.31%
• Current HPI: 240.9568
• 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

+109.5% since first listed

29 events — show timeline

• 2026-03-15 Listed $335,000 REALCOMP
• 2026-03-15 Listed $335,000 MiRealSource-MiMLS
• 2026-03-09 Coming Soon $335,000 MiRealSource-MiMLS
• 2025-11-20 Listing Removed — MiRealSource-MiMLS
• 2025-11-09 Price Changed $350,000 MiRealSource-MiMLS
• 2025-11-08 Price Changed $350,000 REALCOMP
• 2025-10-20 Price Changed $359,000 MiRealSource-MiMLS
• 2025-10-19 Price Changed $359,000 REALCOMP
• 2025-10-01 Price Changed $366,000 MiRealSource-MiMLS
• 2025-10-01 Price Changed $366,000 REALCOMP
• 2025-09-23 Price Changed $373,000 MiRealSource-MiMLS
• 2025-09-23 Price Changed $373,000 REALCOMP
• 2025-09-15 Price Changed $380,000 MiRealSource-MiMLS
• 2025-09-15 Price Changed $380,000 REALCOMP
• 2025-09-09 Price Changed $383,000 MiRealSource-MiMLS
• 2025-09-09 Price Changed $383,000 REALCOMP
• 2025-08-28 Price Changed $389,000 MiRealSource-MiMLS
• 2025-08-28 Price Changed $389,000 REALCOMP
• 2025-08-18 Listed $397,000 REALCOMP
• 2025-08-18 Listed $397,000 MiRealSource-MiMLS
• 2025-08-12 Coming Soon — MiRealSource-MiMLS
• 2024-10-19 Listing Removed — REALCOMP
• 2024-10-08 Listed $335,000 REALCOMP
• 2015-04-27 Sold (Public Records) $149,000 Public Records
• 2015-04-23 Sold (MLS) $149,000 MiRealSource-MiMLS
• 2015-04-23 Sold (MLS) $149,000 REALCOMP
• 2015-03-03 Listing Removed — MiRealSource-MiMLS
• 2014-06-05 Listed $159,900 MiRealSource-MiMLS
• 2014-06-05 Listed $159,900 REALCOMP

Property tax history

-6.8%/yr

Latest (2025): $1,243 · -56.5% YoY. Source: county tax records.