17403 Springdale · Copemish, MI 49683

$73,900

3 bd · 1.0 ba · 900 sqft · SingleFamily · 68 Days on market

Built 1980 2.60 ac lot ↓ 8% since listing

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.3/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2.6 acres, one car garage, workshop and a garden shed, Mobile home. Nice private setting close to Betsie River, Crystal Mountain and all of the recreation trails. Wildlife everywhere and was told Morel Mushrooms as well. The house needs work but easily fixable. Located on a private drive less than 2 miles from downtown Thompsonville.

Key facts

• Wildlife
• Private setting
• Recreation trails

Tags

• PRIVATE SETTING
• CLOSE TO BETSIE RIVER
• CLOSE TO CRYSTAL MOUNTAIN
• RECREATION TRAILS
• WILDLIFE
• PRIVATE DRIVE

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Private well water; Septic tank sewer
• Home design: Single-family residence; One level
• Construction: Vinyl siding; Built with crawl space foundation
• Exterior features: Shed(s) on the property; Lot approximately 323 x 350 (about 2.6 acres); Residential zoning

Interior

• Kitchen: Oven, Refrigerator, Range
• Bedrooms: 4 total rooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Propane heating; No central cooling
• Interior features: Oven, Refrigerator, Range; Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $74k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $74k).
• Recommended offer: $69k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 56/100 on livability (#663 in MI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: schools F, crime F, amenities F.
• Benzie County Central Schools (rural): math 33% / reading 44% proficiency, ranked #234 of 540 in MI (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 58 active listings in the ZIP; 109 units permitted in Manistee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $511 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Manistee County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $6k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $69,466 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 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. 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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 2.86% ✓
• Cap rate: 26.40%
• Cash-on-cash: 71.82%
• DSCR: 4.20
• GRM: 2.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 71.5%
• Equity multiple: 4.23×
• Total profit: $66,884
• Equity at exit: $11,019

10-year hold

• IRR: 75.4%
• Equity multiple: 8.72×
• Total profit: $159,738
• Equity at exit: $6,390

Cash invested: $20,692 (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 49683

• Home prices YoY: -33.9%
• Active inventory: 58
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $2,113 medium
• Mortgage (P&I): −$388
• Tax from tax record: −$13 /mo · $153/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$444
• Net cashflow: $1,238

Break-even live

Break-even rent $546

Max offer price $73,900

Occupancy floor 36%

Sensitivity live

Price	-10% $1,280	-5% $1,259	+0% $1,238	+5% $1,133	+10% $1,108
Rent	-10% $1,071	-5% $1,155	+0% $1,238	+5% $1,322	+10% $1,405
Rate	-1.0pp $1,276	-0.5pp $1,257	base $1,238	+0.5pp $1,219	+1.0pp $1,200

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: $18,475
• Closing costs: $2,217
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $73,900 Active 68 DOM
2. 2026-06-18
   days on market $73,900 Active 67 DOM
3. 2026-06-17
   days on market $73,900 Active 66 DOM
4. 2026-06-16
   days on market $73,900 Active 65 DOM
5. 2026-06-15
   days on market $73,900 Active 64 DOM
6. 2026-06-14
   days on market $73,900 Active 62 DOM
7. 2026-06-12
   days on market $73,900 Active 61 DOM
8. 2026-06-09
   days on market $73,900 Active 58 DOM
9. 2026-06-08
   days on market $73,900 Active 57 DOM
10. 2026-06-07
    days on market $73,900 Active 56 DOM
11. 2026-06-05
    days on market $73,900 Active 53 DOM
12. 2026-06-03
    days on market $73,900 Active 52 DOM
13. 2026-06-02
    days on market $73,900 Active 51 DOM
14. 2026-06-01
    remarks 376-char remark
15. 2026-06-01
    days on market $73,900 Active 50 DOM
16. 2026-05-31
    days on market $73,900 Active 49 DOM
17. 2026-05-30
    days on market $73,900 Active 48 DOM
18. 2026-05-01
    price $73,900 335-char remark

    Show marketing remark (335 chars)

    2.6 acres, one car garage, workshop and a garden shed, Mobile home. Nice private setting close to Betsie River, Crystal Mountain and all of the recreation trails. Wildlife everywhere and was told Morel Mushrooms as well. The house needs work but easily fixable. Located on a private drive less than 2 miles from downtown Thompsonville.

19. 2026-04-30
    price $73,900
20. 2026-04-12
    listed $79,900 Active
21. 2026-04-09
    listed $79,900 Active 335-char remark

    Show marketing remark (335 chars)

    2.6 acres, one car garage, workshop and a garden shed, Mobile home. Nice private setting close to Betsie River, Crystal Mountain and all of the recreation trails. Wildlife everywhere and was told Morel Mushrooms as well. The house needs work but easily fixable. Located on a private drive less than 2 miles from downtown Thompsonville.

ⓘ 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: $153 · $13/mo
• Projected year-2 tax: $645 · $54/mo
• Expected delta: +$493/yr (+$41/mo · 323.1%)

ⓘ 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 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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,359
• − Mortgage interest: −$4,140
• − Property taxes: −$153
• − Insurance: −$370
• − Repairs & maintenance: −$2,029
• − Management: −$2,029
• − Depreciation: −$2,150
• Taxable income: $14,490
• Est. tax owed @ 24.0%: −$3,478
• After-tax cash flow: $11,384/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: Benzie County Central Schools
• NCES district ID: 2604950
• Math proficiency: 33% ▼ -2.00%
• Reading proficiency: 44% ▼ -2.00%
• Median HH income: $46,158
• Composite: 32.84/100
• National rank: #5616
• State rank: #234 of 540 in MI

Livability — Copemish

• Score: 56/100
• State rank: #663
• US rank: #22907

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,070

Population outlook (Manistee County) Hauer SSP2

• Today (2025): 23,785 people
• By 2030: 23,227 · -2.3%
• By 2040: 21,795 · -8.4%
• By 2050: 20,653 · -13.2%
• By 2075: 18,833 · -20.8%
• By 2100: 15,491 · -34.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Native American 2%
• Common ancestry: Romanian 8% Iranian 6% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Other Indo-European 1% Spanish 0%

Political lean MEDSL · Manistee

• 2024 margin: R (+15.9) · D 41.2% · R 57.2% · Other 1.6%
• 2008→2024 swing: -29.2pp toward R · 2008: 13.3pp · 2024: -15.9pp
• All cycles: 2024: R+15.9 2020: R+15.1 2016: R+15.4 2012: D+5.9 2008: D+13.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -90.79%
• Current HPI: 176.9311
• 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

-7.5% since first listed

4 events — show timeline

• 2026-05-01 Price Changed $73,900 MiRealSource-MiMLS
• 2026-04-30 Price Changed $73,900 REALCOMP
• 2026-04-12 Listed $79,900 REALCOMP
• 2026-04-09 Listed $79,900 MiRealSource-MiMLS

Property tax history

-3.1%/yr

Latest (2025): $153 · -53.2% YoY. Source: county tax records.