269 W M-61 · Buckeye, MI 48624

$89,000

2 bd · 1.0 ba · 2,721 sqft · SingleFamily · 75 Days on market

Built 1960 Poor condition 1.12 ac lot $33/sqft · 75% below area ↓ 23% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +1.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Bring your vision to this rural Fixer upper, this huge 2700 sq ft sprawling ranch features over 1 acre of land on M-61. It features 2 bedroom, with potential for 2 more bedrooms, 1 full bath, a massive eat in kitchen, mud room, and a fireplace. It has a trex deck off the back. A rare find that offers endless possibilities for your growing family. It is a HANDYMAN special just waiting for your touch. This home has natural gas. Carport is next to home is also included in the sale. This home needs basement drainage repair and roof replacement. (Realtor has quotes) furnace needs repair or replacement. Fence will be installed near side of home before closing. Attached in documents are the dimensions of the lot and home. Pond is NOT part of sale. Enter through the left gate and use the side entrance. A fence will be installed at closing where the yellow rope is. New taxes will be determined soon, per County. It is a new split. All measurements are approx. Flippers/ investors this is for you! Taxes are estimated on homestead taxes at SEV 76600, approximately $2,000 . SELLER MOTIVATED! BATVAI listing agent owned. This home is being sold AS IS.

Key facts

• 1.12 acre lot
• Built 1960
• Listed 75 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $89k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $89k).
• Recommended offer: $84k (6.0% 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.
• 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 $615 of loan paydown is wiped out by about $3k 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 $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $40k (31%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $83,660 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 2.36% ✓
• Cap rate: 20.36%
• Cash-on-cash: 50.24%
• DSCR: 3.24
• GRM: 3.5

CMA / ARV

• ARV (median comp): $354,991
• List price: $89,000
• Delta: -74.93%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 48.0%
• Equity multiple: 3.09×
• Total profit: $52,059
• Equity at exit: $13,270

10-year hold

• IRR: 53.6%
• Equity multiple: 6.26×
• Total profit: $131,025
• Equity at exit: $7,695

Cash invested: $24,920 (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: 3.5×

Monthly cashflow live

• Estimated rent: $2,099 medium
• Mortgage (P&I): −$467
• Tax est. 1.5%: −$111 /mo · $1,335/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $1,043

Break-even live

Break-even rent $779

Max offer price $89,000

Occupancy floor 45%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $89,000 Active 75 DOM
2. 2026-06-17
   days on market $89,000 Active 74 DOM
3. 2026-06-16
   days on market $89,000 Active 73 DOM
4. 2026-06-15
   days on market $89,000 Active 72 DOM
5. 2026-06-13
   days on market $89,000 Active 70 DOM
6. 2026-06-12
   days on market $89,000 Active 69 DOM
7. 2026-06-09
   pricedays on market $89,000 Active 66 DOM
8. 2026-06-08
   days on market $99,000 Active 65 DOM
9. 2026-06-07
   days on market $99,000 Active 64 DOM
10. 2026-06-07
    statusdays on market $99,000 Active 63 DOM
11. 2026-06-03
    status $99,000 Pending 62 DOM
12. 2026-06-02
    days on market $99,000 Active 62 DOM
13. 2026-06-01
    days on market $99,000 Active 61 DOM
14. 2026-05-31
    days on market $99,000 Active 60 DOM
15. 2026-05-31
    days on market $99,000 Active 59 DOM
16. 2026-05-13
    price $99,000 1153-char remark

    Show marketing remark (1153 chars)

    Bring your vision to this rural Fixer upper, this huge 2700 sq ft sprawling ranch features over 1 acre of land on M-61. It features 2 bedroom, with potential for 2 more bedrooms, 1 full bath, a massive eat in kitchen, mud room, and a fireplace. It has a trex deck off the back. A rare find that offers endless possibilities for your growing family. It is a HANDYMAN special just waiting for your touch. This home has natural gas. Carport is next to home is also included in the sale. This home needs basement drainage repair and roof replacement. (Realtor has quotes) furnace needs repair or replacement. Fence will be installed near side of home before closing. Attached in documents are the dimensions of the lot and home. Pond is NOT part of sale. Enter through the left gate and use the side entrance. A fence will be installed at closing where the yellow rope is. New taxes will be determined soon, per County. It is a new split. All measurements are approx. Flippers/ investors this is for you! Taxes are estimated on homestead taxes at SEV 76600, approximately $2,000 . SELLER MOTIVATED! BATVAI listing agent owned. This home is being sold AS IS.

17. 2026-05-12
    price $99,000 1153-char remark

    Show marketing remark (1153 chars)

    Bring your vision to this rural Fixer upper, this huge 2700 sq ft sprawling ranch features over 1 acre of land on M-61. It features 2 bedroom, with potential for 2 more bedrooms, 1 full bath, a massive eat in kitchen, mud room, and a fireplace. It has a trex deck off the back. A rare find that offers endless possibilities for your growing family. It is a HANDYMAN special just waiting for your touch. This home has natural gas. Carport is next to home is also included in the sale. This home needs basement drainage repair and roof replacement. (Realtor has quotes) furnace needs repair or replacement. Fence will be installed near side of home before closing. Attached in documents are the dimensions of the lot and home. Pond is NOT part of sale. Enter through the left gate and use the side entrance. A fence will be installed at closing where the yellow rope is. New taxes will be determined soon, per County. It is a new split. All measurements are approx. Flippers/ investors this is for you! Taxes are estimated on homestead taxes at SEV 76600, approximately $2,000 . SELLER MOTIVATED! BATVAI listing agent owned. This home is being sold AS IS.

18. 2026-04-19
    price $109,000 1153-char remark

    Show marketing remark (1153 chars)

    Bring your vision to this rural Fixer upper, this huge 2700 sq ft sprawling ranch features over 1 acre of land on M-61. It features 2 bedroom, with potential for 2 more bedrooms, 1 full bath, a massive eat in kitchen, mud room, and a fireplace. It has a trex deck off the back. A rare find that offers endless possibilities for your growing family. It is a HANDYMAN special just waiting for your touch. This home has natural gas. Carport is next to home is also included in the sale. This home needs basement drainage repair and roof replacement. (Realtor has quotes) furnace needs repair or replacement. Fence will be installed near side of home before closing. Attached in documents are the dimensions of the lot and home. Pond is NOT part of sale. Enter through the left gate and use the side entrance. A fence will be installed at closing where the yellow rope is. New taxes will be determined soon, per County. It is a new split. All measurements are approx. Flippers/ investors this is for you! Taxes are estimated on homestead taxes at SEV 76600, approximately $2,000 . SELLER MOTIVATED! BATVAI listing agent owned. This home is being sold AS IS.

19. 2026-04-19
    price $109,000 1153-char remark

    Show marketing remark (1153 chars)

    Bring your vision to this rural Fixer upper, this huge 2700 sq ft sprawling ranch features over 1 acre of land on M-61. It features 2 bedroom, with potential for 2 more bedrooms, 1 full bath, a massive eat in kitchen, mud room, and a fireplace. It has a trex deck off the back. A rare find that offers endless possibilities for your growing family. It is a HANDYMAN special just waiting for your touch. This home has natural gas. Carport is next to home is also included in the sale. This home needs basement drainage repair and roof replacement. (Realtor has quotes) furnace needs repair or replacement. Fence will be installed near side of home before closing. Attached in documents are the dimensions of the lot and home. Pond is NOT part of sale. Enter through the left gate and use the side entrance. A fence will be installed at closing where the yellow rope is. New taxes will be determined soon, per County. It is a new split. All measurements are approx. Flippers/ investors this is for you! Taxes are estimated on homestead taxes at SEV 76600, approximately $2,000 . SELLER MOTIVATED! BATVAI listing agent owned. This home is being sold AS IS.

20. 2026-04-01
    listed $129,000 Active 1153-char remark

    Show marketing remark (1153 chars)

    Bring your vision to this rural Fixer upper, this huge 2700 sq ft sprawling ranch features over 1 acre of land on M-61. It features 2 bedroom, with potential for 2 more bedrooms, 1 full bath, a massive eat in kitchen, mud room, and a fireplace. It has a trex deck off the back. A rare find that offers endless possibilities for your growing family. It is a HANDYMAN special just waiting for your touch. This home has natural gas. Carport is next to home is also included in the sale. This home needs basement drainage repair and roof replacement. (Realtor has quotes) furnace needs repair or replacement. Fence will be installed near side of home before closing. Attached in documents are the dimensions of the lot and home. Pond is NOT part of sale. Enter through the left gate and use the side entrance. A fence will be installed at closing where the yellow rope is. New taxes will be determined soon, per County. It is a new split. All measurements are approx. Flippers/ investors this is for you! Taxes are estimated on homestead taxes at SEV 76600, approximately $2,000 . SELLER MOTIVATED! BATVAI listing agent owned. This home is being sold AS IS.

21. 2026-04-01
    listed $129,000 Active 1153-char remark

    Show marketing remark (1153 chars)

    Bring your vision to this rural Fixer upper, this huge 2700 sq ft sprawling ranch features over 1 acre of land on M-61. It features 2 bedroom, with potential for 2 more bedrooms, 1 full bath, a massive eat in kitchen, mud room, and a fireplace. It has a trex deck off the back. A rare find that offers endless possibilities for your growing family. It is a HANDYMAN special just waiting for your touch. This home has natural gas. Carport is next to home is also included in the sale. This home needs basement drainage repair and roof replacement. (Realtor has quotes) furnace needs repair or replacement. Fence will be installed near side of home before closing. Attached in documents are the dimensions of the lot and home. Pond is NOT part of sale. Enter through the left gate and use the side entrance. A fence will be installed at closing where the yellow rope is. New taxes will be determined soon, per County. It is a new split. All measurements are approx. Flippers/ investors this is for you! Taxes are estimated on homestead taxes at SEV 76600, approximately $2,000 . SELLER MOTIVATED! BATVAI listing agent owned. This home is being sold AS IS.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $25,191
• − Mortgage interest: −$4,985
• − Property taxes: −$1,335
• − Insurance: −$445
• − Repairs & maintenance: −$2,015
• − Management: −$2,015
• − Depreciation: −$2,589
• Taxable income: $11,806
• Est. tax owed @ 24.0%: −$2,833
• After-tax cash flow: $9,686/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.

Condition & rehab AI · 2 photos

Poor 30/100 Extensive rehab

This rural fixer-upper requires extensive repairs, including roof replacement and exterior siding repair, to become move-in ready.

Repairs flagged

• Major roof — Significant damage to roof shingles
• Major exterior siding — Visible peeling paint and siding damage
• Major HVAC — Furnace needs repair or replacement

Value-add opportunities

• Both roof replacement — Fixes major structural issue and improves curb appeal
• Both exterior siding repair — Enhances curb appeal and protects home
• Both HVAC repair or replacement — Improves comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Significant damage to roof shingles	Major	$15,000–50,000
exterior siding · Visible peeling paint and siding damage	Major	$15,000–50,000
HVAC · Furnace needs repair or replacement	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both roof replacement — Fixes major structural issue and improves curb appeal ↑
• Both exterior siding repair — Enhances curb appeal and protects home ↑
• Both HVAC repair or replacement — Improves comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Buckeye

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

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

-23.3% since first listed

6 events — show timeline

• 2026-05-13 Price Changed $99,000 MiRealSource-MiMLS
• 2026-05-12 Price Changed $99,000 REALCOMP
• 2026-04-19 Price Changed $109,000 MiRealSource-MiMLS
• 2026-04-19 Price Changed $109,000 REALCOMP
• 2026-04-01 Listed $129,000 REALCOMP
• 2026-04-01 Listed $129,000 MiRealSource-MiMLS