117 Oliver Dr · Houghton Lake, MI 48629

$79,900

2 bd · 1.0 ba · 1,170 sqft · SingleFamily public records · 22 Days on market

Built 1921 5,227 sqft lot

---

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 +22.4/30.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• 1% rule +6.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits with this fixer-upper just a few blocks from beautiful Houghton Lake! Full of potential, this property is ready for someone to bring their vision and creativity to life. Offering docking currently in place for convenient lake access, you'll enjoy everything Michigan's largest inland lake has to offer including boating, fishing, and year-round recreation. Whether you're searching for a weekend retreat, investment property, or future year-round home, this is your chance to build equity and create something special. Home is being sold as-is and will require repairs and updates, including known foundation concerns. Ideal for investors, contractors, or buyers looking for a pro

Key facts

• Lake access
• Fixer-upper
• 5,227 sq ft lot

Tags

• FIXER-UPPER
• LAKE ACCESS

Property features AI

Exterior

• Parking: Detached garage (about 1.5 car)
• Utilities: Well water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Built on slab foundation
• Exterior features: Paved road access; Lot dimensions approximately 100 x 100

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced-air heating
• Interior features: Main-level laundry
• Laundry & utility: Laundry located on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $133 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($890 rent vs $80k).
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 2.6% in Houghton Lake — 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 63/100 on livability (#504 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, schools F, amenities F.
• Houghton Lake Community Schools (rural): math 18% / reading 36% proficiency, ranked #410 of 540 in MI (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 161 active listings in the ZIP; 73 units permitted in Roscommon County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Roscommon County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $78,701 (1.5% below list)

Questions for the listing agent

1. Built in 1921 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.11% ✓
• Cap rate: 8.28%
• Cash-on-cash: 7.11%
• DSCR: 1.32
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $211,770
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
200 Oliver Dr	0.06mi	2/1.0	1,072 (-8%)	6mo	$135,500	$126	78
113 Wells St	0.23mi	3/1.5 (+1)	1,212 (+4%)	0mo	$245,000	$202	76
114 Carman	0.13mi	2/2.0	1,216 (+4%)	12mo	$240,000	$197	73
104 Wells Ct	0.22mi	3/2.0 (+1)	1,176 (+0%)	10mo	$212,900	$181	71
104 Wells St	0.23mi	3/2.0 (+1)	1,176 (+0%)	10mo	$212,900	$181	71
303 Sanford Ave	0.16mi	3/1.5 (+1)	1,200 (+3%)	19mo	$278,000	$232	66
405 Myers Ave	0.33mi	3/2.0 (+1)	1,050 (-10%)	8mo	$203,000	$193	52
8239 Knapp Rd	0.59mi	2/1.5	1,092 (-7%)	14mo	$163,000	$149	48
2121 Heightsview Dr	0.28mi	3/2.0 (+1)	1,275 (+9%)	22mo	$326,000	$256	45
105 Clarence St	0.38mi	3/1.0 (+1)	1,000 (-14%)	12mo	$133,900	$134	43
117 Broken Arrow	0.66mi	3/1.0 (+1)	1,080 (-8%)	16mo	$117,000	$108	38

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: -5.4%
• Equity multiple: 0.80×
• Total profit: $-4,477
• Equity at exit: $11,913

10-year hold

• IRR: 4.3%
• Equity multiple: 1.32×
• Total profit: $7,078
• Equity at exit: $6,908

Cash invested: $22,372 (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 48629

• Home prices YoY: -16.1%
• Active inventory: 161
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $890 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$119 /mo · $1,423/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$187
• Net cashflow: $133

Break-even live

Break-even rent $723

Max offer price $79,900

Occupancy floor 80%

Sensitivity live

Price	-10% $178	-5% $155	+0% $133	+5% $110	+10% $87
Rent	-10% $62	-5% $97	+0% $133	+5% $168	+10% $203
Rate	-1.0pp $173	-0.5pp $153	base $133	+0.5pp $112	+1.0pp $91

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-12
   statusdays on market $79,900 Pending 22 DOM
2. 2026-06-09
   days on market $79,900 Active 19 DOM
3. 2026-06-08
   days on market $79,900 Active 18 DOM
4. 2026-06-07
   days on market $79,900 Active 17 DOM
5. 2026-06-07
   days on market $79,900 Active 16 DOM
6. 2026-06-04
   days on market $79,900 Active 13 DOM
7. 2026-06-02
   days on market $79,900 Active 12 DOM
8. 2026-06-01
   days on market $79,900 Active 11 DOM
9. 2026-05-31
   days on market $79,900 Active 10 DOM
10. 2026-05-31
    days on market $79,900 Active 9 DOM
11. 2026-05-21
    listed $79,900 Active

ⓘ 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: $1,423 · $119/mo
• Projected year-2 tax: $1,423 · $119/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥93°F today · 14 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: $10,686
• − Mortgage interest: −$4,476
• − Property taxes: −$1,423
• − Insurance: −$400
• − Repairs & maintenance: −$855
• − Management: −$855
• − Depreciation: −$2,324
• Taxable income: $354
• Est. tax owed @ 24.0%: −$85
• After-tax cash flow: $1,506/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: Houghton Lake Community Schools
• NCES district ID: 2618600
• Math proficiency: 18% ▼ -7.00%
• Reading proficiency: 36% ▼ -3.00%
• Median HH income: $34,744
• Composite: 22.19/100
• National rank: #8158
• State rank: #410 of 540 in MI

Livability — Houghton Lake

• Score: 63/100
• State rank: #504
• US rank: #14972

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Houghton Lake, MI
• City population: 7,984
• Population (ZIP): 7,922

Population outlook (Roscommon County) Hauer SSP2

• Today (2025): 22,249 people
• By 2030: 21,206 · -4.7%
• By 2040: 19,070 · -14.3%
• By 2050: 17,564 · -21.1%
• By 2075: 15,420 · -30.7%
• By 2100: 13,168 · -40.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Romanian 11% Lithuanian 5% Slovak 5%
• Foreign-born: 1% · Canada, Jamaica

Political lean MEDSL · Roscommon

• 2024 margin: Solid R (+32.9) · D 32.9% · R 65.9% · Other 1.2%
• 2008→2024 swing: -35.5pp toward R · 2008: 2.5pp · 2024: -32.9pp
• All cycles: 2024: R+32.9 2020: R+30.0 2016: R+29.6 2012: R+3.9 2008: D+2.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -58.09%
• Current HPI: 303.1638
• 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

• 2026-05-21 Listed $79,900 WWMLS

Property tax history

+6.7%/yr

Latest (2025): $1,423 · +4.7% YoY. Source: county tax records.