707 W 1st St · Gladwin, MI 48624

$114,900

2 bd · 1.0 ba · 900 sqft · SingleFamily · 7 Days on market

Built 1978 0.43 ac lot Est $117k · at est.

---

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 +8.3/15.0
• 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

Located at Gladwin, this 2 bed 1 bath home, sitting on a generous lot and a half, it offers plenty of outdoor space. Inside, you will find a beautifully updated interior featuring fresh flooring and brand-new carpet throughout. The bathroom boasts a stunning, modern tile shower. Designed for peace of mind and long-term comfort, the property features a reliable, updated heating system and a solid, durable roof structure overlaying the home. Ideally located near local schools, this property blends comfort, style, and convenience.

Key facts

• Updated interior
• Modern tile shower
• Outdoor space

Tags

• OUTDOOR SPACE
• UPDATED INTERIOR
• MODERN TILE SHOWER
• RELIABLE HEATING SYSTEM
• DURABLE ROOF STRUCTURE
• NEAR LOCAL SCHOOLS

Property features AI

Finance

• HOA & community: Homeowners association present

Exterior

• Utilities: Public water; Septic tank sewer
• Home design: Single-family residence; One story
• Construction: Vinyl siding exterior
• Exterior features: Lot approximately 0.43 acres; Lot dimensions listed as 18,731

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: No central cooling
• Interior features: Has a basement; Total of 5 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $692 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Cap rate 13.5% 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 $794 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 $32k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $36k; list at $115k implies a 219% gain — meaningful room to come down on a strong offer.

Recommended offer $114,900

Questions for the listing agent

1. Built in 1978 — 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: 1.57% ✓
• Cap rate: 13.52%
• Cash-on-cash: 25.81%
• DSCR: 2.15
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $117,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
205 W 4th St	0.35mi	2/1.0	880 (-2%)	3mo	$120,000	$136	78
301 W Fourth St	0.32mi	3/1.0 (+1)	900 (0%)	10mo	$127,000	$141	72
525 N Antler St	0.34mi	2/1.0	840 (-7%)	3mo	$105,000	$125	70
308 W Fourth St	0.32mi	2/1.0	988 (+10%)	3mo	$158,500	$160	67
508 N Silverleaf St	0.42mi	3/1.0 (+1)	924 (+3%)	10mo	$92,500	$100	62
1100 N State St	0.44mi	2/1.0	832 (-8%)	9mo	$53,000	$64	60
3408 Clendening St	0.58mi	2/1.0	936 (+4%)	11mo	$140,000	$150	57
302 N Erie St	0.33mi	3/1.0 (+1)	960 (+7%)	14mo	$125,000	$130	57
310 N Ionia St	0.30mi	2/1.5	1,006 (+12%)	13mo	$115,000	$114	54
140 E Beech St	0.54mi	2/1.0	847 (-6%)	14mo	$83,000	$98	53
1306 N Antler St	0.43mi	3/1.0 (+1)	960 (+7%)	17mo	$108,000	$113	50
440 Quarter St	0.71mi	2/1.0	960 (+7%)	15mo	$164,900	$172	44

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: 19.5%
• Equity multiple: 1.79×
• Total profit: $25,437
• Equity at exit: $17,132

10-year hold

• IRR: 27.7%
• Equity multiple: 3.45×
• Total profit: $78,858
• Equity at exit: $9,934

Cash invested: $32,172 (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: 5.3×

Monthly cashflow live

• Estimated rent: $1,809 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$87 /mo · $1,039/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $692

Break-even live

Break-even rent $933

Max offer price $114,900

Occupancy floor 57%

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   days on market $114,900 Active 7 DOM
2. 2026-06-17
   days on market $114,900 Active 6 DOM
3. 2026-06-16
   days on market $114,900 Active 5 DOM
4. 2026-06-15
   days on market $114,900 Active 4 DOM
5. 2026-06-13
   days on market $114,900 Active 2 DOM
6. 2026-06-12
   remarks 533-char remark
7. 2026-06-12
   listed $114,900 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: $1,039 · $87/mo
• Projected year-2 tax: $1,404 · $117/mo
• Expected delta: +$365/yr (+$30/mo · 35.2%)

ⓘ 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 2/10 Low 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,703
• − Mortgage interest: −$6,436
• − Property taxes: −$1,039
• − Insurance: −$574
• − Repairs & maintenance: −$1,736
• − Management: −$1,736
• − Depreciation: −$3,343
• Taxable income: $6,839
• Est. tax owed @ 24.0%: −$1,641
• After-tax cash flow: $6,661/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

• Census place: Gladwin, MI
• 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

+219.2% since first listed

3 events — show timeline

• 2026-06-11 Listed $114,900 REALCOMP
• 2026-06-11 Listed $114,900 MiRealSource-MiMLS
• 2012-04-10 Sold (Public Records) $36,000 Public Records

Property tax history

+0.1%/yr

Latest (2025): $1,039 · -22.9% YoY. Source: county tax records.