1304 1st Ave N · Escanaba, MI 49829

$150,000

2 bd · 1.0 ba · 1,039 sqft · SingleFamily public records · 261 Days on market

Built 1900 $144/sqft · 177% above area

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Why this score? — see what drove the D- 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 +13.5/30.0
• ARV discount +7.5/15.0
• DSCR +4.1/10.0
• Livability +3.8/5.0
• Schools +3.2/10.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Duplex ready. Investment property that was consistently rented for approximately 20 years.

Key facts

• Garage
• Built 1900
• Listed 261 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $6 ($73/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 $115k (23.4% below list).
• Recommended offer: $115k (23.4% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 4.9% in Escanaba — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 75/100 on livability (#161 in MI, #4,089 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: crime D+, commute F, employment F.
• Escanaba Area Public Schools (town): math 31% / reading 46% proficiency, ranked #243 of 540 in MI (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 63 active listings in the ZIP; 38 units permitted in Delta County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Delta County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 261 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago 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 $24k; list at $150k implies a 512% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $114,950 (23.4% below list)

Questions for the listing agent

1. It's been on market 261 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. Crime grade is D 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.77% ✗
• Cap rate: 6.34%
• Cash-on-cash: 0.17%
• DSCR: 1.01
• GRM: 10.9

CMA / ARV

• ARV (median comp): $89,672
• List price: $150,000
• Delta: 67.28%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
315 N 12th St	0.13mi	3/1.0 (+1)	1,012 (-3%)	5mo	$110,000	$109	80
327 N 16th St	0.27mi	2/2.0	1,020 (-2%)	9mo	$150,000	$147	73
204 S 17th St	0.34mi	2/1.0	1,107 (+6%)	8mo	$115,000	$104	67
917 S 7th Ave	0.73mi	2/1.0	1,043 (+0%)	5mo	$160,000	$153	61
611 S 13th St	0.55mi	3/1.0 (+1)	1,056 (+2%)	9mo	$100,000	$95	59
722 S 16 St	0.69mi	2/1.0	1,099 (+6%)	0mo	$155,000	$141	58
413 S 19th St	0.51mi	2/1.5	964 (-7%)	6mo	$165,000	$171	57
225 S Lincoln Rd	0.71mi	2/1.0	974 (-6%)	5mo	$148,000	$152	52
418 S 1st Ave	0.62mi	2/1.0	918 (-12%)	4mo	$52,000	$57	48
718 S 16th St	0.65mi	2/1.0	925 (-11%)	6mo	$148,000	$160	46
800 S 6th Ave	0.68mi	3/2.0 (+1)	1,092 (+5%)	8mo	$290,000	$266	44
215 S Lincoln Rd	0.70mi	2/1.0	900 (-13%)	8mo	$150,000	$167	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: -16.1%
• Equity multiple: 0.43×
• Total profit: $-23,984
• Equity at exit: $22,365

10-year hold

• IRR: -7.8%
• Equity multiple: 0.51×
• Total profit: $-20,651
• Equity at exit: $12,969

Cash invested: $42,000 (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 49829

• Home prices YoY: -25.6%
• Active inventory: 63
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $1,150 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$53 /mo · $635/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $6

Break-even live

Break-even rent $1,142

Max offer price $150,000

Occupancy floor 94%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $150,000 Active 261 DOM
2. 2026-06-17
   days on market $150,000 Active 260 DOM
3. 2026-06-16
   days on market $150,000 Active 259 DOM
4. 2026-06-15
   days on market $150,000 Active 258 DOM
5. 2026-06-13
   days on market $150,000 Active 256 DOM
6. 2026-06-12
   days on market $150,000 Active 255 DOM
7. 2026-06-09
   days on market $150,000 Active 252 DOM
8. 2026-06-08
   days on market $150,000 Active 251 DOM
9. 2026-06-07
   days on market $150,000 Active 250 DOM
10. 2026-06-07
    days on market $150,000 Active 249 DOM
11. 2026-06-04
    days on market $150,000 Active 246 DOM
12. 2026-06-02
    days on market $150,000 Active 245 DOM
13. 2026-06-01
    days on market $150,000 Active 244 DOM
14. 2026-05-31
    days on market $150,000 Active 243 DOM
15. 2026-05-31
    days on market $150,000 Active 242 DOM
16. 2025-09-26
    listed $150,000 Active 90-char remark

    Show marketing remark (90 chars)

    Duplex ready. Investment property that was consistently rented for approximately 20 years.

17. 2020-08-12
    soldstatus $24,500 93-char remark

    Show marketing remark (93 chars)

    Recently vacated investment property that was consistently rented for approximately 20 years.

18. 2020-08-12
    soldstatus $24,500 93-char remark

    Show marketing remark (93 chars)

    Recently vacated investment property that was consistently rented for approximately 20 years.

19. 2020-07-17
    soldstatus $24,500
20. 2020-06-16
    listed $24,500 93-char remark

    Show marketing remark (93 chars)

    Recently vacated investment property that was consistently rented for approximately 20 years.

21. 2020-06-16
    listed $24,500 93-char remark

    Show marketing remark (93 chars)

    Recently vacated investment property that was consistently rented for approximately 20 years.

ⓘ 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: $635 · $53/mo
• Projected year-2 tax: $1,472 · $123/mo
• Expected delta: +$838/yr (+$70/mo · 132.0%)

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

Taxation est. · year 1

• Rental income: $13,794
• − Mortgage interest: −$8,402
• − Property taxes: −$635
• − Insurance: −$750
• − Repairs & maintenance: −$1,104
• − Management: −$1,104
• − Depreciation: −$4,364
• Taxable loss: −$2,564
• Est. tax savings @ 24.0%: +$615
• After-tax cash flow: $688/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: Escanaba Area Public Schools
• NCES district ID: 2613500
• Math proficiency: 31% ▼ -8.00%
• Reading proficiency: 46% ▼ -1.00%
• Median HH income: $37,187
• Composite: 31.97/100
• National rank: #5841
• State rank: #243 of 540 in MI

Livability — Escanaba

• Score: 75/100
• State rank: #161
• US rank: #4089

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Escanaba, MI
• Population (ZIP): 16,859

Population outlook (Delta County) Hauer SSP2

• Today (2025): 34,431 people
• By 2030: 33,003 · -4.1%
• By 2040: 29,748 · -13.6%
• By 2050: 26,753 · -22.3%
• By 2075: 20,962 · -39.1%
• By 2100: 15,616 · -54.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 9% Hispanic / Latino 2% Native American 2%
• Common ancestry: Lithuanian 14% Italian 4% Romanian 4%
• Foreign-born: 1% · Canada

Political lean MEDSL · Delta

• 2024 margin: Solid R (+30.4) · D 34.1% · R 64.5% · Other 1.4%
• 2008→2024 swing: -36.7pp toward R · 2008: 6.3pp · 2024: -30.4pp
• All cycles: 2024: R+30.4 2020: R+26.5 2016: R+25.4 2012: R+6.7 2008: D+6.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -85.16%
• Current HPI: 247.9676
• 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

+512.2% since first listed

6 events — show timeline

• 2025-09-26 Listed $150,000 Fizber.com
• 2020-08-12 Sold (MLS) $24,500 MiRealSource-MiMLS
• 2020-08-12 Sold (MLS) $24,500 UPAR
• 2020-07-17 Sold (Public Records) $24,500 Public Records
• 2020-06-16 Listed $24,500 MiRealSource-MiMLS
• 2020-06-16 Listed $24,500 UPAR

Property tax history

-3.4%/yr

Latest (2025): $635 · -22.5% YoY. Source: county tax records.