4349 Bay Rd · Gladwin, MI 48624

$175,000

3 bd · 2.0 ba · 1,296 sqft · SingleFamily · 35 Days on market

Built 1999 0.27 ac lot Est $213k · 18% 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 +29.3/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.3/10.0
• Livability +3.6/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to your Up North getaway or year-round retreat! This well-maintained home sits on multiple lots in a peaceful setting just steps from access to beautiful Wiggins Lake. Offering a spacious layout with plenty of natural light, this property is perfect for weekend escapes, full-time living, or even a short-term rental opportunity. A standout feature is the large pole barn with electric and ideal for storing all your toys, working on projects, or creating additional recreational space. The property also includes a circular driveway, storage shed, and plenty of room to expand or entertain. Enjoy everything Northern Michigan has to offer boating, fishing, trails, and relaxation right at your fingertips. Whether you're looking for a cabin feel, investment opportunity, or a place to unwind, this property checks all the boxes! Perfect for Airbnb or short-term rental income with close proximity to Wiggins Lake (an all sports lake) and year-round outdoor activities. No association fee. Easement access.

Key facts

• 0.27 acre lot
• Built 1999
• Listed 35 days

Property features AI

Finance

• Other: Access via dirt road; Lot dimensions approximately 233 x 240 x 195 x 282 (0.27 acres); Water body: Wiggins Lake; Patio/porch: covered porch, deck; Fencing: backyard
• HOA & community: Subdivision: LEVEL LANDING RESORT

Exterior

• Parking: Drive-through driveway (no garage)
• Security: Smoke detectors
• Utilities: Private well water; Septic tank; 220 volt electric service; Cable available; Underground utilities
• Home design: Single-family residence; One story; Ground-level entry with steps; Vinyl siding
• Construction: Asphalt roof
• Exterior features: Awnings; Outdoor lighting; Barn(s); Shed(s); Waterfront access and waterfront view; Has view

Interior

• Kitchen: Dishwasher; Free-standing gas range; Free-standing refrigerator; Microwave; Range hood
• Bedrooms: Total rooms: 6
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Exhaust fan for ventilation; Central air conditioning
• Interior features: Negotiable furnishings; Exhaust fan; Water softener (owned)
• Laundry & utility: Washer; Dryer; Gas dryer hookup; Laundry room; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $616 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $170k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 7.7% in Gladwin — 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 72/100 on livability (#253 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Gladwin Community Schools (town): math 28% / reading 51% proficiency, ranked #232 of 540 in MI (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 287 active listings in the ZIP; 90 units permitted in Gladwin 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 $5k of value loss. Plan a longer hold.
• Gladwin County population projected at -25% 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 $49k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 23y 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 $96k; list at $175k implies a 82% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $169,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 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. 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?
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: 1.23% ✓
• Cap rate: 10.52%
• Cash-on-cash: 15.09%
• DSCR: 1.67
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $212,544
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4349 Bay Rd	0.00mi	3/2.0	1,296 (0%)	1mo	$169,000	$130	100
4266 Pebble Beach Dr	0.38mi	3/2.0	1,200 (-7%)	2mo	$165,000	$138	69
4484 Bay Dr	0.33mi	3/1.5	1,308 (+1%)	20mo	$214,200	$164	65
730 S Point Rd	0.62mi	2/2.0 (-1)	1,144 (-12%)	12mo	$335,000	$293	37

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: 5.7%
• Equity multiple: 1.22×
• Total profit: $10,857
• Equity at exit: $26,093

10-year hold

• IRR: 15.1%
• Equity multiple: 2.22×
• Total profit: $59,834
• Equity at exit: $15,131

Cash invested: $49,000 (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 48624

• Home prices YoY: -23.4%
• Active inventory: 287
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $2,159 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$98 /mo · $1,179/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$453
• Net cashflow: $616

Break-even live

Break-even rent $1,378

Max offer price $175,000

Occupancy floor 66%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-04-29
   status Pending

   Show marketing remark (1014 chars)

   Welcome to your Up North getaway or year-round retreat! This well-maintained home sits on multiple lots in a peaceful setting just steps from access to beautiful Wiggins Lake. Offering a spacious layout with plenty of natural light, this property is perfect for weekend escapes, full-time living, or even a short-term rental opportunity. A standout feature is the large pole barn with electric and ideal for storing all your toys, working on projects, or creating additional recreational space. The property also includes a circular driveway, storage shed, and plenty of room to expand or entertain. Enjoy everything Northern Michigan has to offer boating, fishing, trails, and relaxation right at your fingertips. Whether you're looking for a cabin feel, investment opportunity, or a place to unwind, this property checks all the boxes! Perfect for Airbnb or short-term rental income with close proximity to Wiggins Lake (an all sports lake) and year-round outdoor activities. No association fee. Easement access.

2. 2026-04-29
   status Pending 1014-char remark

   Show marketing remark (1014 chars)

   Welcome to your Up North getaway or year-round retreat! This well-maintained home sits on multiple lots in a peaceful setting just steps from access to beautiful Wiggins Lake. Offering a spacious layout with plenty of natural light, this property is perfect for weekend escapes, full-time living, or even a short-term rental opportunity. A standout feature is the large pole barn with electric and ideal for storing all your toys, working on projects, or creating additional recreational space. The property also includes a circular driveway, storage shed, and plenty of room to expand or entertain. Enjoy everything Northern Michigan has to offer boating, fishing, trails, and relaxation right at your fingertips. Whether you're looking for a cabin feel, investment opportunity, or a place to unwind, this property checks all the boxes! Perfect for Airbnb or short-term rental income with close proximity to Wiggins Lake (an all sports lake) and year-round outdoor activities. No association fee. Easement access.

3. 2026-04-23
   historical Accepting Backup Offers 1014-char remark

   Show marketing remark (1014 chars)

   Welcome to your Up North getaway or year-round retreat! This well-maintained home sits on multiple lots in a peaceful setting just steps from access to beautiful Wiggins Lake. Offering a spacious layout with plenty of natural light, this property is perfect for weekend escapes, full-time living, or even a short-term rental opportunity. A standout feature is the large pole barn with electric and ideal for storing all your toys, working on projects, or creating additional recreational space. The property also includes a circular driveway, storage shed, and plenty of room to expand or entertain. Enjoy everything Northern Michigan has to offer boating, fishing, trails, and relaxation right at your fingertips. Whether you're looking for a cabin feel, investment opportunity, or a place to unwind, this property checks all the boxes! Perfect for Airbnb or short-term rental income with close proximity to Wiggins Lake (an all sports lake) and year-round outdoor activities. No association fee. Easement access.

4. 2026-04-23
   historical Active Under Contract

   Show marketing remark (1014 chars)

   Welcome to your Up North getaway or year-round retreat! This well-maintained home sits on multiple lots in a peaceful setting just steps from access to beautiful Wiggins Lake. Offering a spacious layout with plenty of natural light, this property is perfect for weekend escapes, full-time living, or even a short-term rental opportunity. A standout feature is the large pole barn with electric and ideal for storing all your toys, working on projects, or creating additional recreational space. The property also includes a circular driveway, storage shed, and plenty of room to expand or entertain. Enjoy everything Northern Michigan has to offer boating, fishing, trails, and relaxation right at your fingertips. Whether you're looking for a cabin feel, investment opportunity, or a place to unwind, this property checks all the boxes! Perfect for Airbnb or short-term rental income with close proximity to Wiggins Lake (an all sports lake) and year-round outdoor activities. No association fee. Easement access.

5. 2026-03-26
   listed $175,000 Active 1014-char remark

   Show marketing remark (1014 chars)

   Welcome to your Up North getaway or year-round retreat! This well-maintained home sits on multiple lots in a peaceful setting just steps from access to beautiful Wiggins Lake. Offering a spacious layout with plenty of natural light, this property is perfect for weekend escapes, full-time living, or even a short-term rental opportunity. A standout feature is the large pole barn with electric and ideal for storing all your toys, working on projects, or creating additional recreational space. The property also includes a circular driveway, storage shed, and plenty of room to expand or entertain. Enjoy everything Northern Michigan has to offer boating, fishing, trails, and relaxation right at your fingertips. Whether you're looking for a cabin feel, investment opportunity, or a place to unwind, this property checks all the boxes! Perfect for Airbnb or short-term rental income with close proximity to Wiggins Lake (an all sports lake) and year-round outdoor activities. No association fee. Easement access.

6. 2026-03-26
   listed $175,000 Active

   Show marketing remark (1014 chars)

   Welcome to your Up North getaway or year-round retreat! This well-maintained home sits on multiple lots in a peaceful setting just steps from access to beautiful Wiggins Lake. Offering a spacious layout with plenty of natural light, this property is perfect for weekend escapes, full-time living, or even a short-term rental opportunity. A standout feature is the large pole barn with electric and ideal for storing all your toys, working on projects, or creating additional recreational space. The property also includes a circular driveway, storage shed, and plenty of room to expand or entertain. Enjoy everything Northern Michigan has to offer boating, fishing, trails, and relaxation right at your fingertips. Whether you're looking for a cabin feel, investment opportunity, or a place to unwind, this property checks all the boxes! Perfect for Airbnb or short-term rental income with close proximity to Wiggins Lake (an all sports lake) and year-round outdoor activities. No association fee. Easement access.

7. 2026-03-25
   historical $175,000 1014-char remark

   Show marketing remark (1014 chars)

   Welcome to your Up North getaway or year-round retreat! This well-maintained home sits on multiple lots in a peaceful setting just steps from access to beautiful Wiggins Lake. Offering a spacious layout with plenty of natural light, this property is perfect for weekend escapes, full-time living, or even a short-term rental opportunity. A standout feature is the large pole barn with electric and ideal for storing all your toys, working on projects, or creating additional recreational space. The property also includes a circular driveway, storage shed, and plenty of room to expand or entertain. Enjoy everything Northern Michigan has to offer boating, fishing, trails, and relaxation right at your fingertips. Whether you're looking for a cabin feel, investment opportunity, or a place to unwind, this property checks all the boxes! Perfect for Airbnb or short-term rental income with close proximity to Wiggins Lake (an all sports lake) and year-round outdoor activities. No association fee. Easement access.

8. 2005-07-30
   soldstatus $96,000
9. 2005-06-29
   listed $99,900
10. 2005-06-29
    historical
11. 2004-12-10
    listed $99,900
12. 2004-10-19
    historical
13. 2004-04-19
    listed $107,500
14. 2003-12-30
    historical
15. 2003-06-30
    listed $127,500

ⓘ 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: $1,179 · $98/mo
• Projected year-2 tax: $1,937 · $161/mo
• Expected delta: +$758/yr (+$63/mo · 64.3%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 69% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥95°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,903
• − Mortgage interest: −$9,803
• − Property taxes: −$1,179
• − Insurance: −$875
• − Repairs & maintenance: −$2,072
• − Management: −$2,072
• − Depreciation: −$5,091
• Taxable income: $4,810
• Est. tax owed @ 24.0%: −$1,154
• After-tax cash flow: $6,242/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: Gladwin Community Schools
• NCES district ID: 2615990
• Math proficiency: 28% ▼ -13.00%
• Reading proficiency: 51% ▼ -2.00%
• Median HH income: $38,917
• Composite: 32.93/100
• National rank: #5595
• State rank: #232 of 540 in MI

Livability — Gladwin

• Score: 72/100
• State rank: #253
• US rank: #6296

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 16,269

Population outlook (Gladwin County) Hauer SSP2

• Today (2025): 23,440 people
• By 2030: 22,281 · -4.9%
• By 2040: 19,867 · -15.2%
• By 2050: 17,667 · -24.6%
• By 2075: 12,909 · -44.9%
• By 2100: 8,629 · -63.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 8% Lithuanian 3% Iranian 3%
• Foreign-born: 1%
• Languages at home: 95% English-only · German/W. Germanic 4% Spanish 1%

Political lean MEDSL · Gladwin

• 2024 margin: Solid R (+40.7) · D 29.1% · R 69.8% · Other 1.1%
• 2008→2024 swing: -42.2pp toward R · 2008: 1.5pp · 2024: -40.7pp
• All cycles: 2024: R+40.7 2020: R+36.8 2016: R+34.7 2012: R+7.2 2008: D+1.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -72.67%
• Current HPI: 238.0744
• 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

+37.3% since first listed

15 events — show timeline

• 2026-04-29 Pending — REALCOMP
• 2026-04-29 Pending — MiRealSource-MiMLS
• 2026-04-23 Contingent — MiRealSource-MiMLS
• 2026-04-23 Contingent — REALCOMP
• 2026-03-26 Listed $175,000 MiRealSource-MiMLS
• 2026-03-26 Listed $175,000 REALCOMP
• 2026-03-25 Coming Soon $175,000 MiRealSource-MiMLS
• 2005-07-30 Sold (Public Records) $96,000 Public Records
• 2005-06-29 Listing Removed — MiRealSource-MiMLS
• 2005-06-29 Listed $99,900 MiRealSource-MiMLS
• 2004-12-10 Listed $99,900 MiRealSource-MiMLS
• 2004-10-19 Listing Removed — MiRealSource-MiMLS
• 2004-04-19 Listed $107,500 MiRealSource-MiMLS
• 2003-12-30 Listing Removed — MiRealSource-MiMLS
• 2003-06-30 Listed $127,500 MiRealSource-MiMLS

Property tax history

-0.5%/yr

Latest (2025): $1,179 · -46.1% YoY. Source: county tax records.