9793 N M18 Rd · Gladwin, MI 48624

$95,000

3 bd · 1.5 ba · 1,416 sqft · SingleFamily public records · 8 Days on market

Built 1973 0.38 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
• Livability +3.6/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This solidly built home is ready for a new family to restore its charm and make it their own. Offering three generously sized bedrooms and two full bathrooms, there's plenty of space for comfortable everyday living. Step outside to a nice-sized backyard where you can relax on the deck and enjoy peaceful evenings with family and friends. Additional features include a two-car attached garage, natural gas heat, and a gas-powered generator for added peace of mind. Conveniently located just minutes from area lakes and trail systems, this property offers the perfect blend of small-town comfort and Up North recreation. With a little vision and care, this home has the potential to shine once again.

Key facts

• Nice sized backyard
• Deck
• Up north recreation

Tags

• NICE SIZED BACKYARD
• DECK
• GAS POWERED GENERATOR
• TRAIL SYSTEMS
• UP NORTH RECREATION

Property features AI

Exterior

• Parking: Attached 2-car garage (22 x 24) with electric and garage door opener; 2 parking spaces (garage)
• Utilities: Electricity connected (generator included); Natural gas connected; Private well; Septic system
• Home design: Residential, 1 story; Built in 1973; Entry facing road
• Construction: Crawl foundation
• Exterior features: Vinyl siding; Deck; Owned fence; Shed; Rural view; Deep, treed lot; Large lot; Frontage on a paved road

Interior

• Kitchen: Kitchen on main level (approx. 8 x 12); Breakfast nook on main level (approx. 10 x 12); Dining room on main level (approx. 8 x 10); Range/oven; Refrigerator
• Bedrooms: Main level bedroom (approx. 11 x 12); Main level bedroom (approx. 10 x 11); Main level bedroom (approx. 15 (width)); Master bedroom on main level; First-floor bedroom
• Bathrooms: Two full bathrooms on main level (one approx. 7 x 8, one approx. 5 x 6)
• Heating & cooling: Forced air heating (natural gas); Natural gas supplemental heat; Wall/window air conditioning; Gas water heater
• Interior features: Gas fireplace; 10 total rooms
• Laundry & utility: First-floor laundry / utility room (approx. 5 x 8); Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Cap rate 20.7% vs local median 7.7% in Gladwin — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 72/100 on livability (#253 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• 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 $657 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 $27k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 16y 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.
• Current owner paid $60k; list at $95k implies a 58% gain — meaningful room to come down on a strong offer.

Recommended offer $95,000

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is F 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?
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: 2.29% ✓
• Cap rate: 20.74%
• Cash-on-cash: 51.61%
• DSCR: 3.30
• GRM: 3.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 49.5%
• Equity multiple: 3.16×
• Total profit: $57,449
• Equity at exit: $14,165

10-year hold

• IRR: 55.0%
• Equity multiple: 6.41×
• Total profit: $143,773
• Equity at exit: $8,214

Cash invested: $26,600 (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: 3.6×

Monthly cashflow live

• Estimated rent: $2,175 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$36 /mo · $434/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$457
• Net cashflow: $1,144

Break-even live

Break-even rent $727

Max offer price $95,000

Occupancy floor 42%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-08
   statusdays on market $95,000 Pending 8 DOM
2. 2026-06-07
   days on market $95,000 Active 7 DOM
3. 2026-06-07
   days on market $95,000 Active 6 DOM
4. 2026-06-04
   days on market $95,000 Active 3 DOM
5. 2026-06-02
   days on market $95,000 Active 2 DOM
6. 2026-05-31
   remarks 699-char remark
7. 2026-05-31
   listed $95,000 Active 1 DOM

ⓘ 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: $434 · $36/mo
• Projected year-2 tax: $949 · $79/mo
• Expected delta: +$514/yr (+$43/mo · 118.5%)

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

Taxation est. · year 1

• Rental income: $26,095
• − Mortgage interest: −$5,321
• − Property taxes: −$434
• − Insurance: −$475
• − Repairs & maintenance: −$2,088
• − Management: −$2,088
• − Depreciation: −$2,764
• Taxable income: $12,926
• Est. tax owed @ 24.0%: −$3,102
• After-tax cash flow: $10,626/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 — Gladwin

• Score: 72/100
• State rank: #253
• US rank: #6296

Category grades

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

Schools grade is shown separately in the Schools card above.

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

+116.4% since first listed

5 events — show timeline

• 2026-05-31 Listed $95,000 MiRealSource-MiMLS
• 2012-12-31 Sold (Public Records) $60,300 Public Records
• 2011-10-26 Listed $31,800 MiRealSource-MiMLS
• 2011-09-30 Listing Removed — MiRealSource-MiMLS
• 2010-04-06 Listed $43,900 MiRealSource-MiMLS

Property tax history

-7.3%/yr

Latest (2025): $434 · -56.9% YoY. Source: county tax records.