315 N Indiana Ave · Gaylord, MI 49735

$169,900

3 bd · 1.0 ba · 925 sqft · SingleFamily · 14 Days on market

9,147 sqft lot Est $167k · at est.

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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 +27.5/30.0
• DSCR +9.6/10.0
• ARV discount +6.8/15.0
• 1% rule +6.7/10.0
• Schools +4.1/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

ADORABLE & AFFORDABLE IN THE CITY OF GAYLORD! Welcome home to this adorable cottage, where warmth, charm, and comfort greet you the moment you walk through the door. Nestled on a deep city lot with plenty of space for a backyard oasis, family gatherings, gardening, or simply relaxing outdoors, this inviting home offers the perfect blend of cottage character and everyday convenience. Enjoy living just minutes from schools, medical facilities, shopping, banks, and all the conveniences of in-town living. A detached 23' x 19' one-car garage provides valuable storage space for tools, outdoor gear, hobbies, and seasonal items. Also, the 19'x 10' workshop behind it offers more storage and

Key facts

• Backyard oasis
• 19x10 workshop
• Deep city lot

Tags

• DEEP CITY LOT
• BACKYARD OASIS
• DETACHED ONE-CAR GARAGE
• 19X10 WORKSHOP

Property features AI

Exterior

• Parking: Detached garage (approximately 1.5 car)
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Single family residence; Residential property
• Construction: Slab foundation
• Exterior features: Garden; Landscaped lot; Paved road access; Workshop (outbuilding)

Interior

• Kitchen: Microwave; Refrigerator; Oven; Range
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Wall furnace; Ceiling fan(s) for cooling
• Interior features: Blinds on windows; Smoke detector(s)
• Laundry & utility: Main level laundry; Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $502 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Cap rate 9.8% vs local median 3.8% in Gaylord — 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 (#246 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: crime F, amenities F, commute F.
• Gaylord Community Schools (rural): math 43% / reading 53% proficiency, ranked #123 of 540 in MI (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Gaylord High Schoolvoc Bldg (math 47% / reading 67%, grade C, #99 of 713 statewide, top 14%, 961 students, 43% FRL) — zoned schools at 43% FRL track the district average.
• Market conditions: 206 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 24 units permitted in Otsego 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.
• Otsego County population projected at -11% 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 $48k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $169,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.17% ✓
• Cap rate: 9.84%
• Cash-on-cash: 12.66%
• DSCR: 1.56
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $167,425
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
314 N Otsego Ave	0.15mi	2/1.0 (-1)	840 (-9%)	7mo	$139,000	$165	67
409 E 2nd St	0.67mi	2/1.0 (-1)	875 (-5%)	0mo	$176,222	$201	55
421 S Oak Ave	0.64mi	3/1.0	1,050 (+14%)	12mo	$189,900	$181	37

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: 2.4%
• Equity multiple: 1.09×
• Total profit: $4,406
• Equity at exit: $25,333

10-year hold

• IRR: 12.0%
• Equity multiple: 1.94×
• Total profit: $44,866
• Equity at exit: $14,690

Cash invested: $47,572 (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 49735

• Home prices YoY: -27.8%
• Active inventory: 206
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,990 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$108 /mo · $1,300/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $502

Break-even live

Break-even rent $1,355

Max offer price $169,900

Occupancy floor 70%

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
45 Fraser Blvd Gaylord, MI	2.0–3.0	2.0	1333	$1,990	$1.49	44d	10	0.97mi
45 Fraser Blvd Gaylord, MI	3.0	1.0–2.0	1076	$1,990	$1.85	44d	1	0.97mi

Listing history 12 events

1. 2026-06-18
   days on market $169,900 Active 14 DOM
2. 2026-06-17
   status $169,900 Active 13 DOM
3. 2026-06-17
   days on market $169,900 Active Under Contract 13 DOM
4. 2026-06-16
   days on market $169,900 Active Under Contract 12 DOM
5. 2026-06-15
   days on market $169,900 Active Under Contract 11 DOM
6. 2026-06-13
   days on market $169,900 Active Under Contract 9 DOM
7. 2026-06-12
   days on market $169,900 Active Under Contract 8 DOM
8. 2026-06-09
   statusdays on market $169,900 Active Under Contract 5 DOM
9. 2026-06-08
   days on market $169,900 Active 4 DOM
10. 2026-06-07
    days on market $169,900 Active 3 DOM
11. 2026-06-07
    remarks 695-char remark
12. 2026-06-07
    listed $169,900 Active 2 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: $1,300 · $108/mo
• Projected year-2 tax: $1,958 · $163/mo
• Expected delta: +$658/yr (+$55/mo · 50.6%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥93°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,880
• − Mortgage interest: −$9,517
• − Property taxes: −$1,300
• − Insurance: −$850
• − Repairs & maintenance: −$1,910
• − Management: −$1,910
• − Depreciation: −$4,943
• Taxable income: $3,450
• Est. tax owed @ 24.0%: −$828
• After-tax cash flow: $5,196/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: Gaylord Community Schools
• NCES district ID: 2615730
• Math proficiency: 43% ▼ -5.00%
• Reading proficiency: 53% ▼ -5.00%
• Median HH income: $48,682
• Composite: 40.97/100
• National rank: #3597
• State rank: #123 of 540 in MI

Livability — Gaylord

• Score: 72/100
• State rank: #246
• US rank: #6163

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gaylord, MI
• Population (ZIP): 20,678

Population outlook (Otsego County) Hauer SSP2

• Today (2025): 24,175 people
• By 2030: 23,836 · -1.4%
• By 2040: 22,718 · -6.0%
• By 2050: 21,411 · -11.4%
• By 2075: 18,864 · -22.0%
• By 2100: 15,011 · -37.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 12% Lithuanian 6% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Otsego

• 2024 margin: Solid R (+35.3) · D 31.6% · R 67.0% · Other 1.4%
• 2008→2024 swing: -26.5pp toward R · 2008: -8.9pp · 2024: -35.3pp
• All cycles: 2024: R+35.3 2020: R+34.1 2016: R+37.6 2012: R+19.7 2008: R+8.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -94.52%
• Current HPI: 245.8639
• 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

• 2026-06-04 Listed $169,900 WWMLS

Property tax history

+29.0%/yr

Latest (2025): $1,300 · +1.4% YoY. Source: county tax records.