5657 Freewald Blvd · Vassar, MI 48746

$25,000

3 bd · 2.0 ba · 980 sqft · SingleFamily public records · 5 Days on market

Built 1999 0.44 ac lot ↓ 11% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

With a little time and a little pressure, you can make a diamond, and let me tell you, this place is a diamond in the rough!! (Really Rough) But Its all here! Existing well and septic. Power pole with electric meter and service. Natural gas. Paved road. Almost a half acre lot with towering white pine trees along the property line. Its a Beautiful rural setting. The 1990 Mobile home is included in the sale. Its not much to look at but i think someone could really make it look nice and fix it up to its former glory. 3 bedroom homes in this area can rent upwards of $1.200 a month! Or tear it down and haul it out of there. Vassar township may have the authority to allow a newer mobile home to be brought in and hooked up to current infrastructure. This place wont last long! Cash only! No land contracts. No Rent or rent to own. Call Nathan for your personal showing today!!!

Key facts

• Paved road
• Power pole
• Existing well

Tags

• EXISTING WELL
• EXISTING SEPTIC
• POWER POLE
• NATURAL GAS
• PAVED ROAD
• HALF ACRE LOT

Property features AI

Exterior

• Parking: Detached garage (1 car); Carport
• Utilities: Private well water; Septic tank sewer
• Home design: Single-family residence; One story; Ground-level entry with steps
• Construction: Vinyl siding
• Exterior features: Paved road access; Metal roof

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Crawl space basement; Three total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $646 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Cap rate 37.3% vs local median 3.6% in Vassar — 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 60/100 on livability (#597 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools F, crime F.
• Vassar Public Schools (town): math 20% / reading 24% proficiency, ranked #450 of 540 in MI (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 42 active listings in the ZIP; 56 units permitted in Tuscola County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $173 of loan paydown is wiped out by about $750 of value loss. Plan a longer hold.
• Tuscola County population projected at -29% 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 $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 5 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 $18k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $25,000

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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 4.05% ✓
• Cap rate: 37.30%
• Cash-on-cash: 110.75%
• DSCR: 5.93
• GRM: 2.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.30×
• Total profit: $37,100
• Equity at exit: $3,728

10-year hold

• IRR: —
• Equity multiple: 13.19×
• Total profit: $85,306
• Equity at exit: $2,162

Cash invested: $7,000 (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 48746

• Active inventory: 42
• Price-to-rent: 2.1×

Monthly cashflow live

• Estimated rent: $1,013 medium
• Mortgage (P&I): −$131
• Tax from tax record: −$13 /mo · $157/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $646

Break-even live

Break-even rent $196

Max offer price $25,000

Occupancy floor 31%

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-22
   status Pending 880-char remark

   Show marketing remark (880 chars)

   With a little time and a little pressure, you can make a diamond, and let me tell you, this place is a diamond in the rough!! (Really Rough) But Its all here! Existing well and septic. Power pole with electric meter and service. Natural gas. Paved road. Almost a half acre lot with towering white pine trees along the property line. Its a Beautiful rural setting. The 1990 Mobile home is included in the sale. Its not much to look at but i think someone could really make it look nice and fix it up to its former glory. 3 bedroom homes in this area can rent upwards of $1.200 a month! Or tear it down and haul it out of there. Vassar township may have the authority to allow a newer mobile home to be brought in and hooked up to current infrastructure. This place wont last long! Cash only! No land contracts. No Rent or rent to own. Call Nathan for your personal showing today!!!

2. 2026-05-22
   status Pending

   Show marketing remark (880 chars)

   With a little time and a little pressure, you can make a diamond, and let me tell you, this place is a diamond in the rough!! (Really Rough) But Its all here! Existing well and septic. Power pole with electric meter and service. Natural gas. Paved road. Almost a half acre lot with towering white pine trees along the property line. Its a Beautiful rural setting. The 1990 Mobile home is included in the sale. Its not much to look at but i think someone could really make it look nice and fix it up to its former glory. 3 bedroom homes in this area can rent upwards of $1.200 a month! Or tear it down and haul it out of there. Vassar township may have the authority to allow a newer mobile home to be brought in and hooked up to current infrastructure. This place wont last long! Cash only! No land contracts. No Rent or rent to own. Call Nathan for your personal showing today!!!

3. 2026-05-17
   listed $25,000 Active

   Show marketing remark (880 chars)

   With a little time and a little pressure, you can make a diamond, and let me tell you, this place is a diamond in the rough!! (Really Rough) But Its all here! Existing well and septic. Power pole with electric meter and service. Natural gas. Paved road. Almost a half acre lot with towering white pine trees along the property line. Its a Beautiful rural setting. The 1990 Mobile home is included in the sale. Its not much to look at but i think someone could really make it look nice and fix it up to its former glory. 3 bedroom homes in this area can rent upwards of $1.200 a month! Or tear it down and haul it out of there. Vassar township may have the authority to allow a newer mobile home to be brought in and hooked up to current infrastructure. This place wont last long! Cash only! No land contracts. No Rent or rent to own. Call Nathan for your personal showing today!!!

4. 2026-05-17
   listed $25,000 Active 880-char remark

   Show marketing remark (880 chars)

   With a little time and a little pressure, you can make a diamond, and let me tell you, this place is a diamond in the rough!! (Really Rough) But Its all here! Existing well and septic. Power pole with electric meter and service. Natural gas. Paved road. Almost a half acre lot with towering white pine trees along the property line. Its a Beautiful rural setting. The 1990 Mobile home is included in the sale. Its not much to look at but i think someone could really make it look nice and fix it up to its former glory. 3 bedroom homes in this area can rent upwards of $1.200 a month! Or tear it down and haul it out of there. Vassar township may have the authority to allow a newer mobile home to be brought in and hooked up to current infrastructure. This place wont last long! Cash only! No land contracts. No Rent or rent to own. Call Nathan for your personal showing today!!!

5. 2010-01-27
   soldstatus $18,000
6. 1997-04-23
   soldstatus $28,000

ⓘ 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: $157 · $13/mo
• Projected year-2 tax: $271 · $23/mo
• Expected delta: +$114/yr (+$10/mo · 72.9%)

ⓘ 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 ≥99°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: $12,161
• − Mortgage interest: −$1,400
• − Property taxes: −$157
• − Insurance: −$125
• − Repairs & maintenance: −$973
• − Management: −$973
• − Depreciation: −$727
• Taxable income: $7,806
• Est. tax owed @ 24.0%: −$1,873
• After-tax cash flow: $5,879/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: Vassar Public Schools
• NCES district ID: 2634710
• Math proficiency: 20% ▼ -4.00%
• Reading proficiency: 24% ▼ -15.00%
• Median HH income: $41,418
• Composite: 18.74/100
• National rank: #8878
• State rank: #450 of 540 in MI

Livability — Vassar

• Score: 60/100
• State rank: #597
• US rank: #19448

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 9,144
• Population (ZIP): 8,148

Population outlook (Tuscola County) Hauer SSP2

• Today (2025): 49,930 people
• By 2030: 47,294 · -5.3%
• By 2040: 41,504 · -16.9%
• By 2050: 35,560 · -28.8%
• By 2075: 24,455 · -51.0%
• By 2100: 16,507 · -66.9%

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 8% Lithuanian 7% Slovak 3%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Tuscola

• 2024 margin: Solid R (+43.0) · D 27.9% · R 70.9% · Other 1.3%
• 2008→2024 swing: -42.1pp toward R · 2008: -0.8pp · 2024: -43.0pp
• All cycles: 2024: R+43.0 2020: R+39.3 2016: R+38.0 2012: R+10.8 2008: R+0.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -124.34%
• Current HPI: 177.2366
• 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

-10.7% since first listed

6 events — show timeline

• 2026-05-22 Pending — MiRealSource-MiMLS
• 2026-05-22 Pending — REALCOMP
• 2026-05-17 Listed $25,000 REALCOMP
• 2026-05-17 Listed $25,000 MiRealSource-MiMLS
• 2010-01-27 Sold (Public Records) $18,000 Public Records
• 1997-04-23 Sold (Public Records) $28,000 Public Records

Property tax history

-8.9%/yr

Latest (2025): $157 · -72.7% YoY. Source: county tax records.