559 Gitchegumee Dr · Buckley, MI 49620

$171,850

2 bd · 2.0 ba · 1,200 sqft · SingleFamily · 9 Days on market

Built 1988 0.54 ac lot Est $262k · 34% under $13/mo HOA · 1% of rent

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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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +7.6/30.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.7/10.0
• 1% rule +1.5/10.0

Listing remarks MLS

Affordable opportunity to enjoy access to Lake Gitchegumee. This 2 bed 2 bath home has great possibilities with some needed updates. Home is situated on 2.5 lots and includes some amazing garage/storage space with an attached 2 car as well as a detached garage with workshop. Home has metal roof, concrete drive, and central air.

Key facts

• Metal roof
• Concrete drive
• Central air

Tags

• ACCESS TO LAKE GITCHEGUMEE
• AMAZING GARAGE STORAGE SPACE
• DETACHED GARAGE WITH WORKSHOP
• METAL ROOF
• CONCRETE DRIVE
• CENTRAL AIR

Property features AI

Finance

• Other: Located in the LAKE GITCHEGUMEE subdivision
• HOA & community: Homeowners association with $150 annual fee

Exterior

• Parking: Attached garage (2 spaces)
• Utilities: Private well water; Septic tank
• Home design: Single-family residence; One level
• Construction: Vinyl siding
• Exterior features: Wooded lot; Second garage; Shed(s)

Interior

• Kitchen: Dishwasher; Oven; Refrigerator; Range
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air; Forced air heating (propane)
• Interior features: Dishwasher; Oven; Refrigerator; Range; Crawl space basement

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $172k.

Deal economics

• At list price, monthly cash flow is $-204 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $136k (21.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $112k (35.1% below list).
• Recommended offer: $112k (35.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#529 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, employment D+, crime D-.
• Buckley Community Schools (rural): math 33% / reading 39% proficiency, ranked #267 of 540 in MI (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 40 active listings in the ZIP; 130 units permitted in Wexford County in 2024 (50 in 5+ unit buildings).

Forward outlook

• In year one you build about $18k of equity ($1k loan paydown + $17k appreciation (10.0% local appreciation)).
• Wexford County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$47k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 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.

Recommended offer $111,588 (35.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.65% ✗
• Cap rate: 4.87%
• Cash-on-cash: -5.09%
• DSCR: 0.77
• GRM: 12.8

CMA / ARV

• ARV (on-the-fly): $261,600
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
542 Ottawa Trl	0.05mi	3/1.0 (+1)	1,250 (+4%)	8mo	$272,500	$218	75
542 Ottawa Trl Lot : 260	0.05mi	3/1.0 (+1)	1,250 (+4%)	8mo	$272,500	$218	75
4615 Eastwind Trl	0.35mi	3/2.5 (+1)	1,232 (+3%)	10mo	$247,000	$200	64
123 Chippewa Trl	0.43mi	3/2.0 (+1)	1,200 (0%)	14mo	$170,000	$142	63
145 Tippi Trl	0.62mi	3/2.0 (+1)	1,223 (+2%)	11mo	$305,000	$249	54
212 Deerfield Ct	0.57mi	3/2.0 (+1)	1,280 (+7%)	19mo	$320,000	$250	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.7%
• Equity multiple: 2.67×
• Total profit: $80,547
• Equity at exit: $154,816

10-year hold

• IRR: 18.8%
• Equity multiple: 6.14×
• Total profit: $247,331
• Equity at exit: $333,867

Cash invested: $48,118 (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 49620

• Active inventory: 40
• Price-to-rent: 12.8×

Monthly cashflow live

• Estimated rent: $1,116 medium
• Mortgage (P&I): −$901
• Tax from tax record: −$100 /mo · $1,198/yr
• Insurance: −$72
• HOA: −$13
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $-204

Break-even live

Break-even rent $1,374

Max offer price $135,790

Occupancy floor —

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: $42,962
• Closing costs: $5,156
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $13 · $156/yr

Listing history 18 events

1. 2026-05-19
   status Pending

   Show marketing remark (329 chars)

   Affordable opportunity to enjoy access to Lake Gitchegumee. This 2 bed 2 bath home has great possibilities with some needed updates. Home is situated on 2.5 lots and includes some amazing garage/storage space with an attached 2 car as well as a detached garage with workshop. Home has metal roof, concrete drive, and central air.

2. 2026-05-19
   status Pending 329-char remark

   Show marketing remark (329 chars)

   Affordable opportunity to enjoy access to Lake Gitchegumee. This 2 bed 2 bath home has great possibilities with some needed updates. Home is situated on 2.5 lots and includes some amazing garage/storage space with an attached 2 car as well as a detached garage with workshop. Home has metal roof, concrete drive, and central air.

3. 2026-05-07
   listed $171,850 Active

   Show marketing remark (329 chars)

   Affordable opportunity to enjoy access to Lake Gitchegumee. This 2 bed 2 bath home has great possibilities with some needed updates. Home is situated on 2.5 lots and includes some amazing garage/storage space with an attached 2 car as well as a detached garage with workshop. Home has metal roof, concrete drive, and central air.

4. 2026-05-07
   listed $171,850 Active 329-char remark

   Show marketing remark (329 chars)

   Affordable opportunity to enjoy access to Lake Gitchegumee. This 2 bed 2 bath home has great possibilities with some needed updates. Home is situated on 2.5 lots and includes some amazing garage/storage space with an attached 2 car as well as a detached garage with workshop. Home has metal roof, concrete drive, and central air.

5. 2021-05-07
   soldstatus $160,000 624-char remark

   Show marketing remark (624 chars)

   This manufactured home has 2 bedrooms (3rd is not a legal bedroom) and 2 baths, attached 2 car garage, detached garage with workshop area AND a shed for your lawn equipment. Home is situated on 2.5 lots and is one of the few that has an additional building grandfathered in. Upgrades include new water softener, central air upgrade, furnace, new stove, and luxury vinyl waterproof flooring. THERE'S MORE! Shared access to 103 acre Lake Gitchegumee with private beach for association members and dock. Just a short drive to Traverse City, Cadillac, Mesick, or Interlochen. For more information visit http://www. lgpoa-mi.org/

6. 2021-05-07
   soldstatus $160,000

   Show marketing remark (624 chars)

   This manufactured home has 2 bedrooms (3rd is not a legal bedroom) and 2 baths, attached 2 car garage, detached garage with workshop area AND a shed for your lawn equipment. Home is situated on 2.5 lots and is one of the few that has an additional building grandfathered in. Upgrades include new water softener, central air upgrade, furnace, new stove, and luxury vinyl waterproof flooring. THERE'S MORE! Shared access to 103 acre Lake Gitchegumee with private beach for association members and dock. Just a short drive to Traverse City, Cadillac, Mesick, or Interlochen. For more information visit http://www. lgpoa-mi.org/

7. 2021-03-25
   listed $155,000 624-char remark

   Show marketing remark (624 chars)

   This manufactured home has 2 bedrooms (3rd is not a legal bedroom) and 2 baths, attached 2 car garage, detached garage with workshop area AND a shed for your lawn equipment. Home is situated on 2.5 lots and is one of the few that has an additional building grandfathered in. Upgrades include new water softener, central air upgrade, furnace, new stove, and luxury vinyl waterproof flooring. THERE'S MORE! Shared access to 103 acre Lake Gitchegumee with private beach for association members and dock. Just a short drive to Traverse City, Cadillac, Mesick, or Interlochen. For more information visit http://www. lgpoa-mi.org/

8. 2021-03-25
   listed $155,000

   Show marketing remark (624 chars)

   This manufactured home has 2 bedrooms (3rd is not a legal bedroom) and 2 baths, attached 2 car garage, detached garage with workshop area AND a shed for your lawn equipment. Home is situated on 2.5 lots and is one of the few that has an additional building grandfathered in. Upgrades include new water softener, central air upgrade, furnace, new stove, and luxury vinyl waterproof flooring. THERE'S MORE! Shared access to 103 acre Lake Gitchegumee with private beach for association members and dock. Just a short drive to Traverse City, Cadillac, Mesick, or Interlochen. For more information visit http://www. lgpoa-mi.org/

9. 2014-09-26
   soldstatus $70,000
10. 2014-04-04
    listed $74,900
11. 2007-04-05
    historical
12. 2006-04-05
    listed $109,900
13. 2005-12-20
    historical
14. 2005-06-20
    listed $115,900
15. 2005-06-10
    historical
16. 2005-03-07
    listed $118,500
17. 2003-06-13
    soldstatus $97,500
18. 2003-03-19
    listed $109,900

ⓘ 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: $1,198 · $100/mo
• Projected year-2 tax: $1,922 · $160/mo
• Expected delta: +$724/yr (+$60/mo · 60.4%)

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

Taxation est. · year 1

• Rental income: $13,391
• − Mortgage interest: −$9,626
• − Property taxes: −$1,198
• − Insurance: −$859
• − Repairs & maintenance: −$1,071
• − Management: −$1,071
• − HOA: −$156
• − Depreciation: −$4,999
• Taxable loss: −$5,591
• Est. tax savings @ 24.0%: +$1,342
• After-tax cash flow: $-1,108/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: Buckley Community Schools
• NCES district ID: 2607170
• Math proficiency: 33% ▼ -5.00%
• Reading proficiency: 39% ▼ -2.00%
• Median HH income: $47,974
• Composite: 30.97/100
• National rank: #6101
• State rank: #267 of 540 in MI

Livability — Buckley

• Score: 63/100
• State rank: #529
• US rank: #15953

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,859

Population outlook (Wexford County) Hauer SSP2

• Today (2025): 32,399 people
• By 2030: 31,692 · -2.2%
• By 2040: 29,789 · -8.1%
• By 2050: 27,473 · -15.2%
• By 2075: 21,822 · -32.6%
• By 2100: 15,237 · -53.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Black 2%
• Common ancestry: Romanian 6% Lithuanian 5% Slovak 3%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 97% English-only · Russian/Polish/Slavic 2%

Political lean MEDSL · Wexford

• 2024 margin: Solid R (+34.6) · D 32.0% · R 66.6% · Other 1.5%
• 2008→2024 swing: -30.4pp toward R · 2008: -4.2pp · 2024: -34.6pp
• All cycles: 2024: R+34.6 2020: R+34.3 2016: R+36.4 2012: R+16.3 2008: R+4.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 271.52%
• Current HPI: 829.1812
• 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

+56.4% since first listed

18 events — show timeline

• 2026-05-19 Pending — REALCOMP
• 2026-05-19 Pending — MiRealSource-MiMLS
• 2026-05-07 Listed $171,850 MiRealSource-MiMLS
• 2026-05-07 Listed $171,850 REALCOMP
• 2021-05-07 Sold (MLS) $160,000 REALCOMP
• 2021-05-07 Sold (MLS) $160,000 MiRealSource-MiMLS
• 2021-03-25 Listed $155,000 REALCOMP
• 2021-03-25 Listed $155,000 MiRealSource-MiMLS
• 2014-09-26 Sold (MLS) $70,000 MiRealSource-MiMLS
• 2014-04-04 Listed $74,900 MiRealSource-MiMLS
• 2007-04-05 Listing Removed — MiRealSource-MiMLS
• 2006-04-05 Listed $109,900 MiRealSource-MiMLS
• 2005-12-20 Listing Removed — MiRealSource-MiMLS
• 2005-06-20 Listed $115,900 MiRealSource-MiMLS
• 2005-06-10 Listing Removed — MiRealSource-MiMLS
• 2005-03-07 Listed $118,500 MiRealSource-MiMLS
• 2003-06-13 Sold (MLS) $97,500 REALCOMP
• 2003-03-19 Listed $109,900 REALCOMP

Property tax history

+7.8%/yr

Latest (2022): $1,198 · +172.1% YoY. Source: county tax records.