6189 Wildwood Dr · Alma, MI 48832

$129,900

3 bd · 2.0 ba · 1,064 sqft · SingleFamily · 172 Days on market

Built 1988 0.55 ac lot $122/sqft · 26% below area Est $176k · 26% under ↓ 7% since listing

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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 +16.2/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +5.0/10.0
• Livability +3.5/5.0
• 1% rule +3.0/10.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Just 2 miles west of Alma, this home offers country living with a neighborhood feel. This well-maintained 3-bedroom, 2-bathroom home was built in 1988 and has had only one owner. The property has a 1-car detached garage that has extra room that can be utilized for storage or for a work area. Behind the house is a storage shed for extra space. On the backside is an 11 x 11 sunroom that has updated windows with screens that offer a nice relaxing tranquil setting. This one offers two living spaces that allow for options on how to spend an evening. One option has a fireplace to take off the chill of any season and allow for a cozy and relaxing evening. The other one could be turned into the TV/entertainment room. A new steel roof was put on in the last four years. Don't miss out on this well-cared for home. Schedule your showing with your favorite Realtor today.

Key facts

• Two living spaces
• Updated windows
• Storage shed

Tags

• DETACHED GARAGE
• STORAGE SHED
• SUNROOM
• UPDATED WINDOWS
• TWO LIVING SPACES
• FIREPLACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $68 ($815/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $104k (19.6% below list).
• Recommended offer: $104k (19.6% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 4.1% in Alma — 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 69/100 on livability (#345 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, amenities F, commute F.
• Alma Public Schools (town): math 28% / reading 44% proficiency, ranked #288 of 540 in MI (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 4 active listings in the ZIP; 47 units permitted in Gratiot County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($898 loan paydown + $13k appreciation (10.0% local appreciation)).
• Gratiot County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 172 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $104,477 (19.6% below list)

Questions for the listing agent

1. It's been on market 172 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
6. 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.
7. 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: 0.80% ✗
• Cap rate: 6.92%
• Cash-on-cash: 2.24%
• DSCR: 1.10
• GRM: 10.4

CMA / ARV

• ARV (median comp): $176,322
• List price: $129,900
• Delta: -26.33%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6778 W Lincoln Rd	0.58mi	3/1.0	1,144 (+8%)	4mo	$180,765	$158	53

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: 25.9%
• Equity multiple: 3.06×
• Total profit: $74,993
• Equity at exit: $117,014

10-year hold

• IRR: 22.7%
• Equity multiple: 6.97×
• Total profit: $217,297
• Equity at exit: $252,333

Cash invested: $36,372 (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 48832

• Home prices YoY: 4.4%
• Active inventory: 4
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,045 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$22 /mo · $265/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$219
• Net cashflow: $68

Break-even live

Break-even rent $959

Max offer price $129,900

Occupancy floor 88%

Sensitivity live

Price	-10% $141	-5% $105	+0% $68	+5% $-117	+10% $-162
Rent	-10% $-15	-5% $27	+0% $68	+5% $109	+10% $150
Rate	-1.0pp $133	-0.5pp $101	base $68	+0.5pp $34	+1.0pp $0

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $129,900 Active 172 DOM
2. 2026-06-18
   days on market $129,900 Active 170 DOM
3. 2026-06-17
   days on market $129,900 Active 169 DOM
4. 2026-06-16
   days on market $129,900 Active 168 DOM
5. 2026-06-15
   days on market $129,900 Active 167 DOM
6. 2026-06-13
   days on market $129,900 Active 165 DOM
7. 2026-06-12
   days on market $129,900 Active 164 DOM
8. 2026-06-09
   days on market $129,900 Active 161 DOM
9. 2026-06-08
   days on market $129,900 Active 160 DOM
10. 2026-06-07
    days on market $129,900 Active 159 DOM
11. 2026-06-07
    days on market $129,900 Active 158 DOM
12. 2026-06-04
    days on market $129,900 Active 155 DOM
13. 2026-06-03
    price $129,900 Active 154 DOM
14. 2026-06-02
    days on market $134,900 Active 154 DOM
15. 2026-06-01
    days on market $134,900 Active 153 DOM
16. 2026-05-31
    days on market $134,900 Active 152 DOM
17. 2026-05-31
    days on market $134,900 Active 151 DOM
18. 2026-04-20
    price $134,900 870-char remark

    Show marketing remark (870 chars)

    Just 2 miles west of Alma, this home offers country living with a neighborhood feel. This well-maintained 3-bedroom, 2-bathroom home was built in 1988 and has had only one owner. The property has a 1-car detached garage that has extra room that can be utilized for storage or for a work area. Behind the house is a storage shed for extra space. On the backside is an 11 x 11 sunroom that has updated windows with screens that offer a nice relaxing tranquil setting. This one offers two living spaces that allow for options on how to spend an evening. One option has a fireplace to take off the chill of any season and allow for a cozy and relaxing evening. The other one could be turned into the TV/entertainment room. A new steel roof was put on in the last four years. Don't miss out on this well-cared for home. Schedule your showing with your favorite Realtor today.

19. 2026-04-20
    price $134,900 870-char remark

    Show marketing remark (870 chars)

    Just 2 miles west of Alma, this home offers country living with a neighborhood feel. This well-maintained 3-bedroom, 2-bathroom home was built in 1988 and has had only one owner. The property has a 1-car detached garage that has extra room that can be utilized for storage or for a work area. Behind the house is a storage shed for extra space. On the backside is an 11 x 11 sunroom that has updated windows with screens that offer a nice relaxing tranquil setting. This one offers two living spaces that allow for options on how to spend an evening. One option has a fireplace to take off the chill of any season and allow for a cozy and relaxing evening. The other one could be turned into the TV/entertainment room. A new steel roof was put on in the last four years. Don't miss out on this well-cared for home. Schedule your showing with your favorite Realtor today.

20. 2026-02-17
    price $139,900 870-char remark

    Show marketing remark (870 chars)

    Just 2 miles west of Alma, this home offers country living with a neighborhood feel. This well-maintained 3-bedroom, 2-bathroom home was built in 1988 and has had only one owner. The property has a 1-car detached garage that has extra room that can be utilized for storage or for a work area. Behind the house is a storage shed for extra space. On the backside is an 11 x 11 sunroom that has updated windows with screens that offer a nice relaxing tranquil setting. This one offers two living spaces that allow for options on how to spend an evening. One option has a fireplace to take off the chill of any season and allow for a cozy and relaxing evening. The other one could be turned into the TV/entertainment room. A new steel roof was put on in the last four years. Don't miss out on this well-cared for home. Schedule your showing with your favorite Realtor today.

21. 2026-02-16
    price $139,900 870-char remark

    Show marketing remark (870 chars)

    Just 2 miles west of Alma, this home offers country living with a neighborhood feel. This well-maintained 3-bedroom, 2-bathroom home was built in 1988 and has had only one owner. The property has a 1-car detached garage that has extra room that can be utilized for storage or for a work area. Behind the house is a storage shed for extra space. On the backside is an 11 x 11 sunroom that has updated windows with screens that offer a nice relaxing tranquil setting. This one offers two living spaces that allow for options on how to spend an evening. One option has a fireplace to take off the chill of any season and allow for a cozy and relaxing evening. The other one could be turned into the TV/entertainment room. A new steel roof was put on in the last four years. Don't miss out on this well-cared for home. Schedule your showing with your favorite Realtor today.

22. 2025-12-30
    listed $144,900 Active 870-char remark

    Show marketing remark (870 chars)

    Just 2 miles west of Alma, this home offers country living with a neighborhood feel. This well-maintained 3-bedroom, 2-bathroom home was built in 1988 and has had only one owner. The property has a 1-car detached garage that has extra room that can be utilized for storage or for a work area. Behind the house is a storage shed for extra space. On the backside is an 11 x 11 sunroom that has updated windows with screens that offer a nice relaxing tranquil setting. This one offers two living spaces that allow for options on how to spend an evening. One option has a fireplace to take off the chill of any season and allow for a cozy and relaxing evening. The other one could be turned into the TV/entertainment room. A new steel roof was put on in the last four years. Don't miss out on this well-cared for home. Schedule your showing with your favorite Realtor today.

23. 2025-12-29
    listed $144,900 Active 870-char remark

    Show marketing remark (870 chars)

    Just 2 miles west of Alma, this home offers country living with a neighborhood feel. This well-maintained 3-bedroom, 2-bathroom home was built in 1988 and has had only one owner. The property has a 1-car detached garage that has extra room that can be utilized for storage or for a work area. Behind the house is a storage shed for extra space. On the backside is an 11 x 11 sunroom that has updated windows with screens that offer a nice relaxing tranquil setting. This one offers two living spaces that allow for options on how to spend an evening. One option has a fireplace to take off the chill of any season and allow for a cozy and relaxing evening. The other one could be turned into the TV/entertainment room. A new steel roof was put on in the last four years. Don't miss out on this well-cared for home. Schedule your showing with your favorite Realtor today.

ⓘ 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: $265 · $22/mo
• Projected year-2 tax: $1,133 · $94/mo
• Expected delta: +$868/yr (+$72/mo · 327.1%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,537
• − Mortgage interest: −$7,276
• − Property taxes: −$265
• − Insurance: −$650
• − Repairs & maintenance: −$1,003
• − Management: −$1,003
• − Depreciation: −$3,779
• Taxable loss: −$1,439
• Est. tax savings @ 24.0%: +$345
• After-tax cash flow: $1,160/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: Alma Public Schools
• NCES district ID: 2602640
• Math proficiency: 28% ▼ -9.00%
• Reading proficiency: 44% ▼ -3.00%
• Median HH income: $36,651
• Composite: 29.84/100
• National rank: #6415
• State rank: #288 of 540 in MI

Livability — Alma

• Score: 69/100
• State rank: #345
• US rank: #8809

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 13,433
• Population (ZIP): 1,291

Population outlook (Gratiot County) Hauer SSP2

• Today (2025): 39,991 people
• By 2030: 38,944 · -2.6%
• By 2040: 36,694 · -8.2%
• By 2050: 34,314 · -14.2%
• By 2075: 27,693 · -30.8%
• By 2100: 20,809 · -48.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 9% Hispanic / Latino 2%
• Common ancestry: Lithuanian 5% Romanian 5% Italian 4%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Gratiot

• 2024 margin: Solid R (+31.3) · D 33.7% · R 65.0% · Other 1.4%
• 2008→2024 swing: -35.7pp toward R · 2008: 4.4pp · 2024: -31.3pp
• All cycles: 2024: R+31.3 2020: R+28.3 2016: R+25.6 2012: R+3.9 2008: D+4.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.00%
• Current HPI: 234.9776
• 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

-6.9% since first listed

6 events — show timeline

• 2026-04-20 Price Changed $134,900 MiRealSource-MiMLS
• 2026-04-20 Price Changed $134,900 REALCOMP
• 2026-02-17 Price Changed $139,900 MiRealSource-MiMLS
• 2026-02-16 Price Changed $139,900 REALCOMP
• 2025-12-30 Listed $144,900 REALCOMP
• 2025-12-29 Listed $144,900 MiRealSource-MiMLS