Marquette County’s tension is appreciation evidence without a published income test: investigate if seeking a property-specific cash-flow case, but be cautious if relying on value gains alone. Zillow reports a $271,265 county median home value, up 6.18%. Separately, FHFA’s 2025 repeat-transaction HPI rose 3.27% over its annual measure and 63% cumulatively over five years. The HPI confirms direction, not a dollar value, and its vintage and method cannot be merged with Zillow’s growth.
Market rent is not published, so gross yield cannot be computed. HUD’s two-bedroom FMR is a payment standard, not an estimate of asking rent, and cannot supply the missing income input. The reported effective property-tax rate is 1.26%; that burden needs parcel-level confirmation and must be considered against rent that remains unknown. Price appreciation therefore does not establish return after taxes or other operating costs.
Realtor.com’s MLS evidence shows 51 active listings, with 14.67% price-reduced and pending listings equal to 51.49% of active inventory. These are visible supply, seller-concession and pipeline indicators, respectively—not closed-sale pricing or proof of demand. Migration shows a net gain of 4 tax-return households, while incoming movers’ average AGI exceeded outgoing movers’ by $12,108; the small net flow limits a demand conclusion. Investors made 15 of 231 purchases, so non-owner buyers are present but must be sized against total activity. QCEW covered workplace employment increased 0.56%; it is neither resident employment nor a forecast.
Inland flood is the dominant hazard, with modeled annual climate loss of 0.16% of building value. This ratio is neither an insurance quote nor a dollar loss. Property-level flood-zone determinations, insurance quotes, closed-sale comps, vacancy, repair and financing data are not published in the record. Their absence prevents asset-specific flood carrying-cost, achieved-price and full cash-flow underwriting; lease comparables and property condition remain necessary next checks.