3909 Dorothy St

Albert, MI 49756

$119,000D+

2 bd · 1.0 ba · 1,120 sqft · Built 1962 · SingleFamily · Pending · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,005/mo
• Mortgage (P&I): −$624
• Tax + insurance: −$132
• HOA: −$0
• Vac / Maint / Mgmt: −$211
• Net cashflow: $38/mo
• Annual: $459/yr
• Cap rate: 6.68%
• Cash-on-cash: 1.38%
• DSCR: 1.06
• 1% rule: 0.84%
• Cash to close: $33,320

Investor read

• This is a 2-bed/1.0-bath single-family listed at $119k.
• At list price, monthly cash flow is $38 ($459/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 $101k (15.5% below list).
• It's been on market 38 days — a 3% lower offer ($115k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $101k (15.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $823 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Johannesburg-Lewiston Area Schools (rural): math 33% / reading 42% proficiency, ranked #257 of 540 in MI (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 99 active listings in the ZIP.
• Montmorency County population projected at -38% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Questions for listing agent

• It's been on market 38 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
• Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.