1592 Oakwood Dr · Sage, MI 48624

$159,900

3 bd · 1.5 ba · 1,400 sqft · SingleFamily · 50 Days on market

Built 1972 0.40 ac lot $114/sqft · 26% above area Est $127k · 26% over

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Why this score? — see what drove the C 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 +8.6/10.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits at this 3-bedroom, 1.5-bath ranch home offering convenient main-floor living in a peaceful Gladwin setting. The home features a practical floor plan with a full basement, providing additional storage and potential for future finishing. One of the bedrooms has been converted to a main-floor laundry room, adding everyday convenience, but it could easily be converted back to a third bedroom if desired. Enter through the screened-in three-season mudroom, a great space to enjoy fresh air while staying protected from the elements. A front entry ramp provides easy access to the home. Situated on a spacious lot, the property offers an extended driveway with ample parking for guests. The detached 1.5-car garage provides excellent storage and could easily be transformed into a workshop, hobby space, she shed, or man cave. The fenced backyard offers added privacy and room to relax or entertain. Located within walking distance of Pratt Lake, this property provides convenient access to summer recreation. The surrounding area is also known for its extensive ORV trail system, making it an ideal location for outdoor enthusiasts year-round. With great bones, a desirable layout, and a fantastic location near the lake and trails, this home presents a great opportunity to build equity and make it your own.

Key facts

• Screened in mudroom
• Full basement
• Extended driveway

Tags

• MAIN FLOOR LIVING
• FULL BASEMENT
• MAIN FLOOR LAUNDRY ROOM
• SCREENED IN MUDROOM
• EXTENDED DRIVEWAY
• DETACHED GARAGE

Property features AI

Finance

• Other: Listed by Arterra Realty Michigan LLC
• HOA & community: Homeowners association present

Exterior

• Parking: Detached garage (1.5-car)
• Utilities: Private well water; Septic tank sewer
• Home design: Single-family residence; One level
• Construction: Aluminum siding and wood siding
• Exterior features: 115 x 150 lot; Lot approximately 0.4 acre; Subdivision: OAKWOOD SUB; Located near Opland Road and W Pratt Lake Road

Interior

• Bedrooms: 3 total rooms (bedrooms included in room count)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $774 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $155k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — 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: 288 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 $45k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $155,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.36% ✓
• Cap rate: 12.10%
• Cash-on-cash: 20.76%
• DSCR: 1.92
• GRM: 6.1

CMA / ARV

• ARV (median comp): $127,365
• List price: $159,900
• Delta: 25.54%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1543 N Cedar River Rd	0.70mi	3/2.0	1,264 (-10%)	16mo	$159,000	$126	35

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: 13.1%
• Equity multiple: 1.52×
• Total profit: $23,343
• Equity at exit: $23,842

10-year hold

• IRR: 21.9%
• Equity multiple: 2.87×
• Total profit: $83,556
• Equity at exit: $13,825

Cash invested: $44,772 (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: 288
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,169 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$34 /mo · $407/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $774

Break-even live

Break-even rent $1,189

Max offer price $159,900

Occupancy floor 59%

Sensitivity live

Price	-10% $865	-5% $820	+0% $774	+5% $729	+10% $684
Rent	-10% $603	-5% $689	+0% $774	+5% $860	+10% $946
Rate	-1.0pp $855	-0.5pp $815	base $774	+0.5pp $733	+1.0pp $691

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $159,900 Active 50 DOM
2. 2026-06-18
   days on market $159,900 Active 48 DOM
3. 2026-06-17
   days on market $159,900 Active 47 DOM
4. 2026-06-16
   days on market $159,900 Active 46 DOM
5. 2026-06-15
   days on market $159,900 Active 45 DOM
6. 2026-06-13
   days on market $159,900 Active 43 DOM
7. 2026-06-12
   days on market $159,900 Active 42 DOM
8. 2026-06-09
   days on market $159,900 Active 39 DOM
9. 2026-06-08
   days on market $159,900 Active 38 DOM
10. 2026-06-07
    days on market $159,900 Active 37 DOM
11. 2026-06-07
    days on market $159,900 Active 36 DOM
12. 2026-06-04
    days on market $159,900 Active 33 DOM
13. 2026-06-02
    days on market $159,900 Active 32 DOM
14. 2026-06-01
    days on market $159,900 Active 31 DOM
15. 2026-05-31
    days on market $159,900 Active 30 DOM
16. 2026-05-31
    days on market $159,900 Active 29 DOM
17. 2026-05-01
    listed $159,900 Active 1326-char remark

    Show marketing remark (1326 chars)

    Opportunity awaits at this 3-bedroom, 1.5-bath ranch home offering convenient main-floor living in a peaceful Gladwin setting. The home features a practical floor plan with a full basement, providing additional storage and potential for future finishing. One of the bedrooms has been converted to a main-floor laundry room, adding everyday convenience, but it could easily be converted back to a third bedroom if desired. Enter through the screened-in three-season mudroom, a great space to enjoy fresh air while staying protected from the elements. A front entry ramp provides easy access to the home. Situated on a spacious lot, the property offers an extended driveway with ample parking for guests. The detached 1.5-car garage provides excellent storage and could easily be transformed into a workshop, hobby space, she shed, or man cave. The fenced backyard offers added privacy and room to relax or entertain. Located within walking distance of Pratt Lake, this property provides convenient access to summer recreation. The surrounding area is also known for its extensive ORV trail system, making it an ideal location for outdoor enthusiasts year-round. With great bones, a desirable layout, and a fantastic location near the lake and trails, this home presents a great opportunity to build equity and make it your own.

18. 2026-05-01
    listed $159,900 Active 1326-char remark

    Show marketing remark (1326 chars)

    Opportunity awaits at this 3-bedroom, 1.5-bath ranch home offering convenient main-floor living in a peaceful Gladwin setting. The home features a practical floor plan with a full basement, providing additional storage and potential for future finishing. One of the bedrooms has been converted to a main-floor laundry room, adding everyday convenience, but it could easily be converted back to a third bedroom if desired. Enter through the screened-in three-season mudroom, a great space to enjoy fresh air while staying protected from the elements. A front entry ramp provides easy access to the home. Situated on a spacious lot, the property offers an extended driveway with ample parking for guests. The detached 1.5-car garage provides excellent storage and could easily be transformed into a workshop, hobby space, she shed, or man cave. The fenced backyard offers added privacy and room to relax or entertain. Located within walking distance of Pratt Lake, this property provides convenient access to summer recreation. The surrounding area is also known for its extensive ORV trail system, making it an ideal location for outdoor enthusiasts year-round. With great bones, a desirable layout, and a fantastic location near the lake and trails, this home presents a great opportunity to build equity and make it your own.

ⓘ 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: $407 · $34/mo
• Projected year-2 tax: $1,435 · $120/mo
• Expected delta: +$1,028/yr (+$86/mo · 252.2%)

ⓘ 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 ≥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: $26,028
• − Mortgage interest: −$8,957
• − Property taxes: −$407
• − Insurance: −$800
• − Repairs & maintenance: −$2,082
• − Management: −$2,082
• − Depreciation: −$4,652
• Taxable income: $7,048
• Est. tax owed @ 24.0%: −$1,692
• After-tax cash flow: $7,601/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 — Sage

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

+0.0% since first listed

2 events — show timeline

• 2026-05-01 Listed $159,900 REALCOMP
• 2026-05-01 Listed $159,900 MiRealSource-MiMLS

Property tax history

-5.4%/yr

Latest (2025): $407 · -62.3% YoY. Source: county tax records.