3960 McCullum Rd · Billings, MI 48612

$48,000

3 bd · 2.0 ba · 1,296 sqft · SingleFamily · 27 Days on market

0.28 ac lot

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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 +2.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits with this mid process remodel home, just under a half mile from Wixom lake access, with Wixom Lake projected to return August 27! Major improvements have already been underway, making this an ideal project for an investor, builder, or buyer looking to finish out their ideal property. The home has been completely reworked with new windows throughout, a new metal roof that is roughly 99% complete, and new metal siding installed on half of the home. The remaining roofing and siding materials needed to finish the exterior are included with the sale. Inside, electrical has already been roughed in and plumbing has been stubbed for a 3 bedroom, 2 bath split floor plan layout. Mo

Key facts

• Slab foundation
• New metal roof
• Brand new drywall

Tags

• WIXOM LAKE ACCESS
• NEW WINDOWS
• NEW METAL ROOF
• NEW METAL SIDING
• BRAND NEW DRYWALL
• SLAB FOUNDATION

Property features AI

Exterior

• Utilities: Natural gas connected; Private well water; Public sanitary sewer; No heating system specified
• Home design: Residential, single-story; Entry-level bedrooms; Located in a township (Billings Twp)
• Construction: Slab foundation; Year built listed as 0
• Exterior features: Metal siding; Road frontage

Interior

• Bedrooms: First-floor bedrooms (three) — dimensions: 12 x 10; 12 x 13; ~13
• Bathrooms: Two full bathrooms, both on the main level
• Interior features: 7 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $48k.

Deal economics

• At list price, monthly cash flow is $461 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $48k).
• Recommended offer: $47k (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.
• Beaverton Rural Schools (rural): math 24% / reading 37% proficiency, ranked #364 of 540 in MI (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 104 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 $332 of loan paydown is wiped out by about $1k 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 $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($47k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $47,280 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 2.25% ✓
• Cap rate: 19.22%
• Cash-on-cash: 46.15%
• DSCR: 3.05
• GRM: 3.7

CMA / ARV

• ARV (on-the-fly): $180,144
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4148 Lakeside Dr	0.53mi	3/1.5	1,273 (-2%)	4mo	$400,000	$314	68
4142 Grant Rd	0.58mi	3/2.0	1,144 (-12%)	8mo	$125,000	$109	46
3699 Lakeview Dr	0.61mi	3/2.0	1,150 (-11%)	8mo	$218,000	$190	46
1079 Hemlock St	0.65mi	3/2.0	1,456 (+12%)	8mo	$152,000	$104	43
4154 Lakeside Dr	0.54mi	2/1.0 (-1)	1,104 (-15%)	4mo	$125,000	$113	38
3772 S Lake Dr	0.54mi	2/1.0 (-1)	1,440 (+11%)	23mo	$200,000	$139	28

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: 37.8%
• Equity multiple: 2.61×
• Total profit: $21,658
• Equity at exit: $7,157

10-year hold

• IRR: 44.3%
• Equity multiple: 5.23×
• Total profit: $56,909
• Equity at exit: $4,150

Cash invested: $13,440 (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 48612

• Home prices YoY: -23.3%
• Active inventory: 104
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,079 medium
• Mortgage (P&I): −$252
• Tax from tax record: −$63 /mo · $761/yr
• Insurance: −$20
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $461

Break-even live

Break-even rent $495

Max offer price $48,000

Occupancy floor 52%

Sensitivity live

Price	-10% $489	-5% $475	+0% $461	+5% $448	+10% $434
Rent	-10% $376	-5% $419	+0% $461	+5% $504	+10% $547
Rate	-1.0pp $486	-0.5pp $474	base $461	+0.5pp $449	+1.0pp $436

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: $12,000
• Closing costs: $1,440
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $48,000 Active 27 DOM
2. 2026-06-18
   days on market $48,000 Active 25 DOM
3. 2026-06-17
   days on market $48,000 Active 24 DOM
4. 2026-06-16
   days on market $48,000 Active 23 DOM
5. 2026-06-15
   days on market $48,000 Active 22 DOM
6. 2026-06-13
   days on market $48,000 Active 20 DOM
7. 2026-06-12
   pricedays on market $48,000 Active 19 DOM
8. 2026-06-09
   days on market $55,000 Active 16 DOM
9. 2026-06-08
   days on market $55,000 Active 15 DOM
10. 2026-06-07
    days on market $55,000 Active 14 DOM
11. 2026-06-07
    days on market $55,000 Active 13 DOM
12. 2026-06-04
    days on market $55,000 Active 10 DOM
13. 2026-06-02
    days on market $55,000 Active 9 DOM
14. 2026-06-01
    days on market $55,000 Active 8 DOM
15. 2026-05-31
    days on market $55,000 Active 7 DOM
16. 2026-05-31
    days on market $55,000 Active 6 DOM
17. 2026-05-24
    listed $55,000 Active

ⓘ 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: $761 · $63/mo
• Projected year-2 tax: $761 · $63/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 76% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥97°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: $12,943
• − Mortgage interest: −$2,689
• − Property taxes: −$761
• − Insurance: −$906
• − Repairs & maintenance: −$1,035
• − Management: −$1,035
• − Depreciation: −$1,396
• Taxable income: $5,119
• Est. tax owed @ 24.0%: −$1,229
• After-tax cash flow: $4,308/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: Beaverton Rural Schools
• NCES district ID: 2604440
• Math proficiency: 24% ▼ -2.00%
• Reading proficiency: 37% ▼ -2.00%
• Median HH income: $39,200
• Composite: 25.54/100
• National rank: #7431
• State rank: #364 of 540 in MI

Livability — Billings

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

Census & demographics

• Population (ZIP): 8,505

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 (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Lithuanian 5% Romanian 5% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% German/W. Germanic 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: ▼ -65.55%
• Current HPI: 215.4508
• 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

1 event — show timeline

• 2026-05-24 Listed $55,000 MiRealSource-MiMLS

Property tax history

+4.5%/yr

Latest (2025): $761 · -30.8% YoY. Source: county tax records.