13705 M-28 Hwy · Pentland, MI 49868

$99,900

2 bd · 1.0 ba · 780 sqft · SingleFamily · 58 Days on market

3.97 ac lot $128/sqft · 16% below area Est $118k · 16% under

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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 +27.8/30.0
• ARV discount +14.5/15.0
• DSCR +9.8/10.0
• 1% rule +6.9/10.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

4-acre parcel located directly on M-28 offering excellent access and visibility with nearby commercial activity, including national retailers such as McDonald's. Property features an existing structure with approximately 800 sq ft and a solid exterior, ready for a complete interior renovation. Ideal opportunity for a recreational basecamp, short-term rental project, or potential business location (subject to zoning approval). Cleared, usable land with a mix of open area and surrounding hardwoods. Conveniently located near snowmobile/ORV trails and access to public land throughout Luce County. Property is being sold as-is.

Key facts

• Existing structure
• Public land access
• Interior renovation

Tags

• 4 ACRE PARCEL
• EXISTING STRUCTURE
• INTERIOR RENOVATION
• USABLE LAND
• PUBLIC LAND ACCESS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $304 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Tahquamenon Area Schools (town): math 23% / reading 37% proficiency, ranked #374 of 540 in MI (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 67 active listings in the ZIP; 9 units permitted in Luce County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Luce County population projected at -11% 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 $28k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 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.
• Current owner paid $47k; list at $100k implies a 113% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $96,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.19% ✓
• Cap rate: 9.95%
• Cash-on-cash: 13.05%
• DSCR: 1.58
• GRM: 7.0

CMA / ARV

• ARV (median comp): $118,423
• List price: $99,900
• Delta: -15.64%
• Verdict: UNDERPRICED
• Comps: 5 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 2.9%
• Equity multiple: 1.11×
• Total profit: $3,165
• Equity at exit: $14,895

10-year hold

• IRR: 12.5%
• Equity multiple: 1.99×
• Total profit: $27,631
• Equity at exit: $8,638

Cash invested: $27,972 (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 49868

• Home prices YoY: -16.8%
• Active inventory: 67
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,189 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$70 /mo · $834/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $304

Break-even live

Break-even rent $804

Max offer price $99,900

Occupancy floor 69%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $99,900 Active 58 DOM
2. 2026-06-17
   days on market $99,900 Active 57 DOM
3. 2026-06-16
   days on market $99,900 Active 56 DOM
4. 2026-06-15
   days on market $99,900 Active 55 DOM
5. 2026-06-13
   days on market $99,900 Active 53 DOM
6. 2026-06-12
   days on market $99,900 Active 52 DOM
7. 2026-06-09
   days on market $99,900 Active 49 DOM
8. 2026-06-08
   days on market $99,900 Active 48 DOM
9. 2026-06-07
   days on market $99,900 Active 47 DOM
10. 2026-06-07
    days on market $99,900 Active 46 DOM
11. 2026-06-04
    days on market $99,900 Active 43 DOM
12. 2026-06-02
    days on market $99,900 Active 42 DOM
13. 2026-06-01
    days on market $99,900 Active 41 DOM
14. 2026-05-31
    days on market $99,900 Active 40 DOM
15. 2026-05-31
    days on market $99,900 Active 39 DOM
16. 2026-04-21
    listed $99,900 Active 629-char remark

    Show marketing remark (629 chars)

    4-acre parcel located directly on M-28 offering excellent access and visibility with nearby commercial activity, including national retailers such as McDonald's. Property features an existing structure with approximately 800 sq ft and a solid exterior, ready for a complete interior renovation. Ideal opportunity for a recreational basecamp, short-term rental project, or potential business location (subject to zoning approval). Cleared, usable land with a mix of open area and surrounding hardwoods. Conveniently located near snowmobile/ORV trails and access to public land throughout Luce County. Property is being sold as-is.

17. 2026-04-21
    listed $99,900 Active 629-char remark

    Show marketing remark (629 chars)

    4-acre parcel located directly on M-28 offering excellent access and visibility with nearby commercial activity, including national retailers such as McDonald's. Property features an existing structure with approximately 800 sq ft and a solid exterior, ready for a complete interior renovation. Ideal opportunity for a recreational basecamp, short-term rental project, or potential business location (subject to zoning approval). Cleared, usable land with a mix of open area and surrounding hardwoods. Conveniently located near snowmobile/ORV trails and access to public land throughout Luce County. Property is being sold as-is.

18. 2010-09-22
    soldstatus $47,000

ⓘ 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: $834 · $70/mo
• Projected year-2 tax: $1,186 · $99/mo
• Expected delta: +$352/yr (+$29/mo · 42.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥89°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: $14,265
• − Mortgage interest: −$5,596
• − Property taxes: −$834
• − Insurance: −$500
• − Repairs & maintenance: −$1,141
• − Management: −$1,141
• − Depreciation: −$2,906
• Taxable income: $2,147
• Est. tax owed @ 24.0%: −$515
• After-tax cash flow: $3,134/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: Tahquamenon Area Schools
• NCES district ID: 2625350
• Math proficiency: 23% ▼ -1.00%
• Reading proficiency: 37% ▼ -4.00%
• Median HH income: $38,217
• Composite: 25.03/100
• National rank: #7553
• State rank: #374 of 540 in MI

Livability — Pentland

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

Census & demographics

• Population (ZIP): 5,231

Population outlook (Luce County) Hauer SSP2

• Today (2025): 6,185 people
• By 2030: 6,049 · -2.2%
• By 2040: 5,756 · -6.9%
• By 2050: 5,481 · -11.4%
• By 2075: 4,729 · -23.5%
• By 2100: 3,631 · -41.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 10% Native American 8% Two or more races 6% Hispanic / Latino 2%
• Common ancestry: Romanian 4% Lithuanian 3% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 2% Arabic 1%

Political lean MEDSL · Luce

• 2024 margin: Solid R (+46.9) · D 25.8% · R 72.7% · Other 1.5%
• 2008→2024 swing: -36.0pp toward R · 2008: -10.9pp · 2024: -46.9pp
• All cycles: 2024: R+46.9 2020: R+42.2 2016: R+41.7 2012: R+22.2 2008: R+10.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -26.69%
• Current HPI: 132.0633
• 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

+112.6% since first listed

3 events — show timeline

• 2026-04-21 Listed $99,900 UPAR
• 2026-04-21 Listed $99,900 MiRealSource-MiMLS
• 2010-09-22 Sold (Public Records) $47,000 Public Records

Property tax history

+3.6%/yr

Latest (2016): $834 · +11.3% YoY. Source: county tax records.