4965 Whitefeather Rd · Rhodes, MI 48652

$69,900

2 bd · 1.0 ba · 800 sqft · SingleFamily · 28 Days on market

Built 1995 1.50 ac lot

---

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
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• Appreciation +8.4/10.0
• ARV discount +7.5/15.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Mobile home with pole barns. Close to State Land and Gladwin County ORV trailhead. Would make a nice landing spot for toy storage and a place to stay. Sold As-Is. Power is off and meter is pulled. Deed transfer to new buyer and municipality electrical inspection required to turn power back on per Consumers Energy. Cash Sale Only - will not finance. No land contracts.

Key facts

• Pole barns
• Toy storage
• State land

Tags

• POLE BARNS
• STATE LAND
• GLADWIN COUNTY ORV TRAILHEAD
• TOY STORAGE

Property features AI

Finance

• HOA & community: Homeowners association present

Exterior

• Utilities: Private well water; Septic tank
• Home design: Single-family residence; One level
• Construction: Vinyl siding; About 800 square feet above grade finished area
• Exterior features: Approximately 1.5 acres lot; Subdivision: BENTLEY TWP; Located near Rhodes / Flajole

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (propane); No cooling
• Interior features: 3 total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $306 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($987 rent vs $70k).
• Recommended offer: $69k (1.5% 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.
• Pinconning Area Schools (rural): math 26% / reading 45% proficiency, ranked #275 of 540 in MI (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 4 active listings in the ZIP; 90 units permitted in Gladwin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($483 loan paydown + $5k appreciation (6.8% local appreciation)).
• Gladwin County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.8% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $35k; list at $70k implies a 100% gain — meaningful room to come down on a strong offer.

Recommended offer $68,851 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.41% ✓
• Cap rate: 11.54%
• Cash-on-cash: 18.75%
• DSCR: 1.83
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.78% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 32.5%
• Equity multiple: 3.19×
• Total profit: $42,942
• Equity at exit: $47,429

10-year hold

• IRR: 29.7%
• Equity multiple: 6.64×
• Total profit: $110,377
• Equity at exit: $89,193

Cash invested: $19,572 (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 48652

• Home prices YoY: 2.9%
• Active inventory: 4
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $987 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$78 /mo · $941/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$207
• Net cashflow: $306

Break-even live

Break-even rent $600

Max offer price $69,900

Occupancy floor 64%

Sensitivity live

Price	-10% $345	-5% $326	+0% $306	+5% $286	+10% $266
Rent	-10% $228	-5% $267	+0% $306	+5% $345	+10% $384
Rate	-1.0pp $341	-0.5pp $324	base $306	+0.5pp $288	+1.0pp $269

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $69,900 Active 28 DOM
2. 2026-06-18
   days on market $69,900 Active 27 DOM
3. 2026-06-17
   days on market $69,900 Active 26 DOM
4. 2026-06-16
   days on market $69,900 Active 25 DOM
5. 2026-06-15
   days on market $69,900 Active 24 DOM
6. 2026-06-14
   days on market $69,900 Active 22 DOM
7. 2026-06-13
   days on market $69,900 Active 21 DOM
8. 2026-06-10
   days on market $69,900 Active 19 DOM
9. 2026-06-09
   days on market $69,900 Active 18 DOM
10. 2026-06-09
    price $69,900 Active 17 DOM
11. 2026-06-08
    days on market $79,900 Active 17 DOM
12. 2026-06-07
    days on market $79,900 Active 16 DOM
13. 2026-06-05
    days on market $79,900 Active 13 DOM
14. 2026-06-03
    days on market $79,900 Active 12 DOM
15. 2026-06-02
    days on market $79,900 Active 11 DOM
16. 2026-06-01
    days on market $79,900 Active 10 DOM
17. 2026-05-31
    days on market $79,900 Active 9 DOM
18. 2026-05-30
    days on market $79,900 Active 8 DOM
19. 2026-05-21
    listed $79,900 Active 369-char remark

    Show marketing remark (369 chars)

    Mobile home with pole barns. Close to State Land and Gladwin County ORV trailhead. Would make a nice landing spot for toy storage and a place to stay. Sold As-Is. Power is off and meter is pulled. Deed transfer to new buyer and municipality electrical inspection required to turn power back on per Consumers Energy. Cash Sale Only - will not finance. No land contracts.

20. 2026-05-21
    listed $79,900 Active

    Show marketing remark (369 chars)

    Mobile home with pole barns. Close to State Land and Gladwin County ORV trailhead. Would make a nice landing spot for toy storage and a place to stay. Sold As-Is. Power is off and meter is pulled. Deed transfer to new buyer and municipality electrical inspection required to turn power back on per Consumers Energy. Cash Sale Only - will not finance. No land contracts.

21. 2020-10-16
    soldstatus $35,000

ⓘ 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: $941 · $78/mo
• Projected year-2 tax: $1,008 · $84/mo
• Expected delta: +$68/yr (+$6/mo · 7.2%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥96°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: $11,845
• − Mortgage interest: −$3,915
• − Property taxes: −$941
• − Insurance: −$350
• − Repairs & maintenance: −$948
• − Management: −$948
• − Depreciation: −$2,033
• Taxable income: $2,711
• Est. tax owed @ 24.0%: −$651
• After-tax cash flow: $3,018/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: Pinconning Area Schools
• NCES district ID: 2628170
• Math proficiency: 26% ▼ -13.00%
• Reading proficiency: 45% ▼ -1.00%
• Median HH income: $47,580
• Composite: 30.46/100
• National rank: #6228
• State rank: #275 of 540 in MI

Livability — Rhodes

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

Census & demographics

• Population (ZIP): 1,877

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 (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Romanian 23% Lithuanian 7% Iranian 3%
• Foreign-born: 0%

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: ▲ 6.78%
• Current HPI: 237.2978
• 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

+128.3% since first listed

3 events — show timeline

• 2026-05-21 Listed $79,900 REALCOMP
• 2026-05-21 Listed $79,900 MiRealSource-MiMLS
• 2020-10-16 Sold (Public Records) $35,000 Public Records

Property tax history

+0.1%/yr

Latest (2025): $941 · -66.4% YoY. Source: county tax records.