25094 Livingston Rd

Ewen, MI 49925

$79,000C

1 bd · None ba · 576 sqft · Built 1984 · SingleFamily · Pending · 234 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $762/mo
• Mortgage (P&I): −$414
• Tax + insurance: −$132
• HOA: −$0
• Vac / Maint / Mgmt: −$160
• Net cashflow: $56/mo
• Annual: $674/yr
• Cap rate: 7.15%
• Cash-on-cash: 3.05%
• DSCR: 1.14
• 1% rule: 0.96%
• Cash to close: $22,120

Investor read

• This is a 1-bed/?-bath single-family listed at $79k. Condition is rated fair.
• At list price, monthly cash flow is $56 ($674/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 $76k (3.5% below list).
• It's been on market 234 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($546 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Ewen-Trout Creek Consolidated School District (rural): math 30% / reading 35% proficiency, ranked #510 of 760 in MI (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 11 active listings in the ZIP; 13 units permitted in Ontonagon County in 2024 (0 in 5+ unit buildings).
• Ontonagon County population projected at -63% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts 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.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~6 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 234 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: exterior siding — Peeling paint
• Major: windows — Old, possibly single-pane windows
• Major: kitchen — No photos of kitchen
• Major: bathroom — No photos of bathroom
• Major: HVAC — No photos of HVAC