2346 Jimary Ln · Gladwin, MI 48624

$125,000

2 bd · 1.0 ba · 800 sqft · SingleFamily · 24 Days on market

Built 1960 3,920 sqft 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
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• 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 MLS

Welcome home! Lake Four, Lake Access and community Dock and beach access! This beautifully refreshed property is move-in ready with major updates throughout. Enjoy peace of mind with a brand-new roof, along with new flooring that adds warmth and modern style to every room. The updated kitchen features fresh finishes and functional improvements - perfect for cooking, entertaining, or simply enjoying your morning coffee. Fresh, neutral paint throughout the home creates a bright, inviting atmosphere and makes it easy to personalize the space to your taste. Located on a quiet street in Gladwin, this home is ideal for anyone looking for comfort, convenience, and quality updates already completed. Don't miss your chance to make this beautifully upgraded property your own!

Key facts

• New flooring
• Community dock
• Beach access

Tags

• LAKE ACCESS
• COMMUNITY DOCK
• BEACH ACCESS
• NEW ROOF
• NEW FLOORING
• UPDATED KITCHEN

Property features AI

Exterior

• Parking: No garage
• Utilities: Private well water; Septic tank sewer
• Home design: Single-family residence; One story; Entry at ground level
• Construction: Vinyl siding; Slab foundation; Built area above grade: 800 square feet
• Exterior features: Access to Lake Four; Dirt road access; Barn on property

Interior

• Bedrooms: No bedroom count provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Wall furnace; No central cooling
• Interior features: Ground-level entry; Two total rooms; Beach access and lake view

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $611 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.2% vs local median 6.3% 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: 288 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 $864 of loan paydown is wiped out by about $4k 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 $35k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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 $70k; list at $125k implies a 79% gain — meaningful room to come down on a strong offer.

Recommended offer $123,125 (1.5% below list)

Questions for the listing agent

1. Built in 1960 — 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: 1.42% ✓
• Cap rate: 12.16%
• Cash-on-cash: 20.95%
• DSCR: 1.93
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $70,400
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2346 Jimary Ln	0.00mi	2/1.0	800 (0%)	19mo	$70,000	$88	84

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: 13.4%
• Equity multiple: 1.53×
• Total profit: $18,637
• Equity at exit: $18,638

10-year hold

• IRR: 22.2%
• Equity multiple: 2.89×
• Total profit: $66,255
• Equity at exit: $10,808

Cash invested: $35,000 (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: 288
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,772 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$81 /mo · $978/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $611

Break-even live

Break-even rent $999

Max offer price $125,000

Occupancy floor 61%

Sensitivity live

Price	-10% $682	-5% $646	+0% $611	+5% $576	+10% $540
Rent	-10% $471	-5% $541	+0% $611	+5% $681	+10% $751
Rate	-1.0pp $674	-0.5pp $643	base $611	+0.5pp $579	+1.0pp $546

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-21
   days on market $125,000 Active 24 DOM
2. 2026-06-18
   days on market $125,000 Active 22 DOM
3. 2026-06-17
   days on market $125,000 Active 21 DOM
4. 2026-06-16
   days on market $125,000 Active 20 DOM
5. 2026-06-15
   days on market $125,000 Active 19 DOM
6. 2026-06-13
   days on market $125,000 Active 17 DOM
7. 2026-06-12
   days on market $125,000 Active 16 DOM
8. 2026-06-09
   days on market $125,000 Active 13 DOM
9. 2026-06-08
   days on market $125,000 Active 12 DOM
10. 2026-06-07
    days on market $125,000 Active 11 DOM
11. 2026-06-07
    days on market $125,000 Active 10 DOM
12. 2026-06-04
    days on market $125,000 Active 7 DOM
13. 2026-06-02
    days on market $125,000 Active 6 DOM
14. 2026-06-01
    days on market $125,000 Active 5 DOM
15. 2026-05-31
    days on market $125,000 Active 4 DOM
16. 2026-05-31
    days on market $125,000 Active 3 DOM
17. 2026-05-27
    listed $125,000 Active

    Show marketing remark (776 chars)

    Welcome home! Lake Four, Lake Access and community Dock and beach access! This beautifully refreshed property is move-in ready with major updates throughout. Enjoy peace of mind with a brand-new roof, along with new flooring that adds warmth and modern style to every room. The updated kitchen features fresh finishes and functional improvements - perfect for cooking, entertaining, or simply enjoying your morning coffee. Fresh, neutral paint throughout the home creates a bright, inviting atmosphere and makes it easy to personalize the space to your taste. Located on a quiet street in Gladwin, this home is ideal for anyone looking for comfort, convenience, and quality updates already completed. Don't miss your chance to make this beautifully upgraded property your own!

18. 2026-05-27
    listed $125,000 Active 776-char remark

    Show marketing remark (776 chars)

    Welcome home! Lake Four, Lake Access and community Dock and beach access! This beautifully refreshed property is move-in ready with major updates throughout. Enjoy peace of mind with a brand-new roof, along with new flooring that adds warmth and modern style to every room. The updated kitchen features fresh finishes and functional improvements - perfect for cooking, entertaining, or simply enjoying your morning coffee. Fresh, neutral paint throughout the home creates a bright, inviting atmosphere and makes it easy to personalize the space to your taste. Located on a quiet street in Gladwin, this home is ideal for anyone looking for comfort, convenience, and quality updates already completed. Don't miss your chance to make this beautifully upgraded property your own!

19. 2026-05-01
    historical
20. 2026-05-01
    historical
21. 2026-03-30
    price $125,000
22. 2026-03-30
    price $125,000
23. 2025-11-22
    listed $130,000 Active
24. 2025-11-22
    listed $130,000 Active
25. 2024-11-19
    soldstatus $70,000
26. 2024-11-11
    soldstatus $70,000 Closed
27. 2024-10-28
    status Pending
28. 2024-10-25
    listed $60,000 Active
29. 2006-06-09
    soldstatus $20,500

ⓘ 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: $978 · $81/mo
• Projected year-2 tax: $1,451 · $121/mo
• Expected delta: +$474/yr (+$39/mo · 48.4%)

ⓘ 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: $21,266
• − Mortgage interest: −$7,002
• − Property taxes: −$978
• − Insurance: −$625
• − Repairs & maintenance: −$1,701
• − Management: −$1,701
• − Depreciation: −$3,636
• Taxable income: $5,622
• Est. tax owed @ 24.0%: −$1,349
• After-tax cash flow: $5,982/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

+509.8% since first listed

13 events — show timeline

• 2026-05-27 Listed $125,000 REALCOMP
• 2026-05-27 Listed $125,000 MiRealSource-MiMLS
• 2026-05-01 Listing Removed — MiRealSource-MiMLS
• 2026-05-01 Listing Removed — REALCOMP
• 2026-03-30 Price Changed $125,000 MiRealSource-MiMLS
• 2026-03-30 Price Changed $125,000 REALCOMP
• 2025-11-22 Listed $130,000 MiRealSource-MiMLS
• 2025-11-22 Listed $130,000 REALCOMP
• 2024-11-19 Sold (Public Records) $70,000 Public Records
• 2024-11-11 Sold (MLS) $70,000 MiRealSource-MiMLS
• 2024-10-28 Pending — MiRealSource-MiMLS
• 2024-10-25 Listed $60,000 MiRealSource-MiMLS
• 2006-06-09 Sold (Public Records) $20,500 Public Records

Property tax history

+4.9%/yr

Latest (2025): $978 · +40.6% YoY. Source: county tax records.