6416 Jimary Ln · Butman, MI 48624

$159,000

2 bd · 1.0 ba · 1,837 sqft · SingleFamily · 66 Days on market

0.55 ac lot $87/sqft · 37% below area Est $253k · 37% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This beautifully renovated lakeside home offers the perfect blend of modern comfort and rustic charm. Situated on a lush, treed lot, the sale includes the additional wooded parcel behind the home for added privacy and space. Extensively remodeled in 2009, the residence features a spacious open-concept floor plan designed for effortless entertaining. Major mechanical updates--including a newer roof, natural gas, and high-efficiency heating and A/C--ensure years of low-maintenance living. Enjoy shared private access to Lake Four, a local favorite for premier fishing, kayaking, and peaceful afternoon boat rides. The interior offers two comfortable bedrooms plus a versatile entry room currently used for overflow guests. For those looking to add value, the utility area adjacent to the primary bedroom is prepped with water lines, making a second bathroom conversion simple. Whether you're hitting the nearby ORV trails or relaxing by the water, this home is your gateway to the great outdoors.

Key facts

• Lakeside home
• Wooded parcel
• Utility area prepped

Tags

• LAKESIDE HOME
• WOODED PARCEL
• OPEN-CONCEPT FLOOR PLAN
• SHARED PRIVATE ACCESS
• UTILITY AREA PREPPED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $159k.

Deal economics

• At list price, monthly cash flow is $659 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $159k).
• Recommended offer: $149k (6.0% 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.
• 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 $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 ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($149k) is reasonable based on typical stale-listing flexibility.
• 2 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.
• Current owner paid $24k; list at $159k implies a 562% gain — meaningful room to come down on a strong offer.

Recommended offer $149,460 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% 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. 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: 1.28% ✓
• Cap rate: 11.27%
• Cash-on-cash: 17.76%
• DSCR: 1.79
• GRM: 6.5

CMA / ARV

• ARV (median comp): $253,474
• List price: $159,000
• Delta: -37.27%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1788 Highlanders Way	0.72mi	3/3.0 (+1)	1,606 (-13%)	4mo	$160,900	$100	29

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: 9.2%
• Equity multiple: 1.36×
• Total profit: $16,135
• Equity at exit: $23,707

10-year hold

• IRR: 18.4%
• Equity multiple: 2.52×
• Total profit: $67,825
• Equity at exit: $13,747

Cash invested: $44,520 (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: 6.5×

Monthly cashflow live

• Estimated rent: $2,031 medium
• Mortgage (P&I): −$834
• Tax from tax record: −$45 /mo · $543/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$426
• Net cashflow: $659

Break-even live

Break-even rent $1,197

Max offer price $159,000

Occupancy floor 63%

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $159,000 Active 66 DOM
2. 2026-06-18
   price $159,000 Active 65 DOM
3. 2026-06-17
   days on market $162,900 Active 65 DOM
4. 2026-06-16
   days on market $162,900 Active 64 DOM
5. 2026-06-15
   days on market $162,900 Active 63 DOM
6. 2026-06-13
   days on market $162,900 Active 61 DOM
7. 2026-06-12
   days on market $162,900 Active 60 DOM
8. 2026-06-09
   days on market $162,900 Active 57 DOM
9. 2026-06-08
   days on market $162,900 Active 56 DOM
10. 2026-06-07
    days on market $162,900 Active 55 DOM
11. 2026-06-07
    days on market $162,900 Active 54 DOM
12. 2026-06-04
    days on market $162,900 Active 51 DOM
13. 2026-06-02
    days on market $162,900 Active 50 DOM
14. 2026-06-01
    days on market $162,900 Active 49 DOM
15. 2026-05-31
    days on market $162,900 Active 48 DOM
16. 2026-05-31
    days on market $162,900 Active 47 DOM
17. 2026-04-13
    listed $162,900 Active 999-char remark

    Show marketing remark (999 chars)

    This beautifully renovated lakeside home offers the perfect blend of modern comfort and rustic charm. Situated on a lush, treed lot, the sale includes the additional wooded parcel behind the home for added privacy and space. Extensively remodeled in 2009, the residence features a spacious open-concept floor plan designed for effortless entertaining. Major mechanical updates--including a newer roof, natural gas, and high-efficiency heating and A/C--ensure years of low-maintenance living. Enjoy shared private access to Lake Four, a local favorite for premier fishing, kayaking, and peaceful afternoon boat rides. The interior offers two comfortable bedrooms plus a versatile entry room currently used for overflow guests. For those looking to add value, the utility area adjacent to the primary bedroom is prepped with water lines, making a second bathroom conversion simple. Whether you're hitting the nearby ORV trails or relaxing by the water, this home is your gateway to the great outdoors.

18. 2025-10-02
    price $162,500
19. 2025-08-09
    price $169,500
20. 2005-05-25
    soldstatus $24,000
21. 2004-01-22
    historical
22. 2003-07-22
    listed $39,900

ⓘ 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: $543 · $45/mo
• Projected year-2 tax: $1,496 · $125/mo
• Expected delta: +$953/yr (+$79/mo · 175.4%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥94°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,367
• − Mortgage interest: −$8,906
• − Property taxes: −$543
• − Insurance: −$795
• − Repairs & maintenance: −$1,949
• − Management: −$1,949
• − Depreciation: −$4,625
• Taxable income: $5,599
• Est. tax owed @ 24.0%: −$1,344
• After-tax cash flow: $6,563/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 — Butman

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

+308.3% since first listed

6 events — show timeline

• 2026-04-13 Listed $162,900 WWMLS
• 2025-10-02 Price Changed $162,500 WWMLS
• 2025-08-09 Price Changed $169,500 WWMLS
• 2005-05-25 Sold (Public Records) $24,000 Public Records
• 2004-01-22 Listing Removed — MiRealSource-MiMLS
• 2003-07-22 Listed $39,900 MiRealSource-MiMLS

Property tax history

-3.1%/yr

Latest (2025): $543 · -44.8% YoY. Source: county tax records.