2699 Dutcher Rd · Butman, MI 48624

$175,000

2 bd · 2.0 ba · 1,596 sqft · SingleFamily · 10 Days on market

Built 1970 9.00 ac lot Est $184k · 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 +27.9/30.0
• DSCR +9.9/10.0
• ARV discount +9.6/15.0
• 1% rule +7.1/10.0
• 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

Calling all homesteaders, hobby farmers, and renovation-minded buyers! This classic brick farmhouse sits on approximately 9 acres and is packed with potential for the buyer ready to roll up their sleeves and bring new life to a once-proud country homestead. The 1.5-story home with full basement has seen better days, but offers solid space to work with, including a 12x30 sunroom and attached 15x30 carport. Outside is where this property truly shines. A 20x24 detached garage provides everyday parking and storage, while the massive 50x90 pole barn is ready for RV storage, tractors, equipment, workshop space, or livestock shelter. The impressive 50x90 gambrel-style hay barn features livestock c

Key facts

• 15x30 carport
• 12x30 sunroom
• 50x90 pole barn

Tags

• CLASSIC BRICK FARMHOUSE
• 12X30 SUNROOM
• 15X30 CARPORT
• 20X24 DETACHED GARAGE
• 50X90 POLE BARN
• 50X90 GAMBREL-STYLE HAY BARN

Property features AI

Exterior

• Parking: Has garage; Detached garage and additional garage(s); Carport; Garage capacity for 10 parking spaces; Garage dimensions listed (various bays)
• Utilities: Private well water; Septic system; Electricity connected
• Home design: Residential fixer-upper; 1 1/2-story structure; Built in 1970
• Construction: Block foundation; Basement present
• Exterior features: Brick construction; Rural setting with rural views; Frontage on road; Outbuildings including barn, pole barn, garage(s), and second garage; Hay barn

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Bedroom on upper level (12 x 14); Bedroom on upper level (12 x 12)
• Bathrooms: Two full bathrooms (one on upper level, one on main level)
• Heating & cooling: Forced air heating; Pellet stove supplemental heat; Oil heat source; Electric water heater
• Interior features: Entry; Sun/Florida room; Eat-in kitchen; Lower-level laundry; Has basement (block foundation)
• Laundry & utility: Laundry room on lower level (10 x 12)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $541 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).

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 $49k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $175,000

Questions for the listing agent

1. Built in 1970 — 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. 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.
4. 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.
5. 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: 1.21% ✓
• Cap rate: 10.00%
• Cash-on-cash: 13.25%
• DSCR: 1.59
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $183,540
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2699 Dutcher Rd	0.00mi	2/2.0	1,596 (0%)	0mo	$140,000	$88	100
2611 Sandbridge Ct	0.63mi	3/2.0 (+1)	1,482 (-7%)	8mo	$225,225	$152	47
2576 Sandbridge Ct	0.65mi	3/2.0 (+1)	1,650 (+3%)	20mo	$189,900	$115	42

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: 3.2%
• Equity multiple: 1.12×
• Total profit: $6,091
• Equity at exit: $26,093

10-year hold

• IRR: 12.8%
• Equity multiple: 2.01×
• Total profit: $49,627
• Equity at exit: $15,131

Cash invested: $49,000 (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: 287
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,124 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$146 /mo · $1,757/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$446
• Net cashflow: $541

Break-even live

Break-even rent $1,439

Max offer price $175,000

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-01
   status $175,000 Pending 10 DOM
2. 2026-06-01
   days on market $175,000 Active 10 DOM
3. 2026-05-31
   days on market $175,000 Active 9 DOM
4. 2026-05-31
   days on market $175,000 Active 8 DOM
5. 2026-05-22
   listed $175,000 Active

ⓘ 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: $1,757 · $146/mo
• Projected year-2 tax: $2,226 · $185/mo
• Expected delta: +$469/yr (+$39/mo · 26.7%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥95°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: $25,490
• − Mortgage interest: −$9,803
• − Property taxes: −$1,757
• − Insurance: −$875
• − Repairs & maintenance: −$2,039
• − Management: −$2,039
• − Depreciation: −$5,091
• Taxable income: $3,886
• Est. tax owed @ 24.0%: −$933
• After-tax cash flow: $5,560/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

1 event — show timeline

• 2026-05-22 Listed $175,000 MiRealSource-MiMLS

Property tax history

+4.5%/yr

Latest (2025): $1,757 · +16.2% YoY. Source: county tax records.