7353 Bagpipe Dr · Pine River, MI 48801

$59,900

3 bd · 2.0 ba · 1,298 sqft · Other · 49 Days on market

Built 2001 $596/mo HOA · 47% of rent ↓ 14% since listing

---

Why this score? — see what drove the D 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 +13.1/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +3.9/10.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 bed, 2 bath home with an easy opportunity for a 3rd! This beautiful home offers 1,290 sq ft in desirable Scottsdale Estates for just $59,900! This low-maintenance home features a garage, spacious layout, and a beautiful covered porch perfect for relaxing. With one of the best price points on the market, it's hard to find anything comparable--especially with a garage included. Whether you're looking to downsize or enjoy easy living without sacrificing space, this home checks all the boxes. Seller has already moved, making this a great opportunity for a quick move-in. Affordable, practical, and priced to sell--don't miss one of the best deals available in Scottsdale Estates!

Key facts

• Garage
• Built 2001
• Listed 49 days

Property features AI

Finance

• HOA & community: Monthly association fee of 596 covering trash, sewer, and snow removal; Property is part of an association

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water
• Home design: Residential property; Other architectural style; Built in 2001
• Construction: Vinyl siding; Metal roof; Crawl space foundation
• Exterior features: Paved road access; Public water

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating; Central cooling
• Interior features: Six total rooms; Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $60k.

Deal economics

• At list price, monthly cash flow is $-3 ($-32/yr) — negative.
• To cash-flow at today's rent, offer at most $60k (0.7% below list).
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Alma Public Schools (town): math 28% / reading 44% proficiency, ranked #288 of 540 in MI (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 89 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 47 units permitted in Gratiot County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Gratiot County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 5 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.

Risks & watch-outs

• Watch-outs: HOA is 47% of rent.

Recommended offer $58,103 (3.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 2.13% ✓
• Cap rate: 6.24%
• Cash-on-cash: -0.19%
• DSCR: 0.99
• GRM: 3.9

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: -15.8%
• Equity multiple: 0.43×
• Total profit: $-9,493
• Equity at exit: $8,931

10-year hold

• IRR: -6.2%
• Equity multiple: 0.59×
• Total profit: $-6,922
• Equity at exit: $5,179

Cash invested: $16,772 (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 48801

• Home prices YoY: -32.0%
• Active inventory: 89
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,275 medium
• Mortgage (P&I): −$314
• Tax est. 1.5%: −$75 /mo · $898/yr
• Insurance: −$25
• HOA: −$596
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $-3

Break-even live

Break-even rent $1,278

Max offer price $59,509

Occupancy floor 95%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1589 Mary Ct Alma, MI	3.0	1.5	1012	$1,275	$1.26	43d	1	0.39mi

HOA detail

• Monthly dues: $596 · $7,152/yr
• Likely covers: parking

Listing history 23 events

1. 2026-06-18
   days on market $59,900 Active 49 DOM
2. 2026-06-17
   days on market $59,900 Active 48 DOM
3. 2026-06-16
   days on market $59,900 Active 47 DOM
4. 2026-06-15
   days on market $59,900 Active 46 DOM
5. 2026-06-13
   days on market $59,900 Active 44 DOM
6. 2026-06-12
   days on market $59,900 Active 43 DOM
7. 2026-06-09
   days on market $59,900 Active 40 DOM
8. 2026-06-08
   days on market $59,900 Active 39 DOM
9. 2026-06-07
   days on market $59,900 Active 38 DOM
10. 2026-06-07
    days on market $59,900 Active 37 DOM
11. 2026-06-04
    days on market $59,900 Active 34 DOM
12. 2026-06-02
    days on market $59,900 Active 33 DOM
13. 2026-06-01
    days on market $59,900 Active 32 DOM
14. 2026-05-31
    days on market $59,900 Active 31 DOM
15. 2026-05-31
    days on market $59,900 Active 30 DOM
16. 2026-04-30
    listed $59,900 Active 683-char remark

    Show marketing remark (683 chars)

    2 bed, 2 bath home with an easy opportunity for a 3rd! This beautiful home offers 1,290 sq ft in desirable Scottsdale Estates for just $59,900! This low-maintenance home features a garage, spacious layout, and a beautiful covered porch perfect for relaxing. With one of the best price points on the market, it's hard to find anything comparable--especially with a garage included. Whether you're looking to downsize or enjoy easy living without sacrificing space, this home checks all the boxes. Seller has already moved, making this a great opportunity for a quick move-in. Affordable, practical, and priced to sell--don't miss one of the best deals available in Scottsdale Estates!

17. 2026-04-30
    listed $59,900 Active 683-char remark

    Show marketing remark (683 chars)

    2 bed, 2 bath home with an easy opportunity for a 3rd! This beautiful home offers 1,290 sq ft in desirable Scottsdale Estates for just $59,900! This low-maintenance home features a garage, spacious layout, and a beautiful covered porch perfect for relaxing. With one of the best price points on the market, it's hard to find anything comparable--especially with a garage included. Whether you're looking to downsize or enjoy easy living without sacrificing space, this home checks all the boxes. Seller has already moved, making this a great opportunity for a quick move-in. Affordable, practical, and priced to sell--don't miss one of the best deals available in Scottsdale Estates!

18. 2026-04-30
    listed $59,900 Active

    Show marketing remark (683 chars)

    2 bed, 2 bath home with an easy opportunity for a 3rd! This beautiful home offers 1,290 sq ft in desirable Scottsdale Estates for just $59,900! This low-maintenance home features a garage, spacious layout, and a beautiful covered porch perfect for relaxing. With one of the best price points on the market, it's hard to find anything comparable--especially with a garage included. Whether you're looking to downsize or enjoy easy living without sacrificing space, this home checks all the boxes. Seller has already moved, making this a great opportunity for a quick move-in. Affordable, practical, and priced to sell--don't miss one of the best deals available in Scottsdale Estates!

19. 2026-04-25
    historical
20. 2026-04-12
    status Active
21. 2026-04-11
    historical
22. 2026-02-24
    price $59,900
23. 2025-11-07
    listed $70,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $15,300
• − Mortgage interest: −$3,355
• − Property taxes: −$898
• − Insurance: −$300
• − Repairs & maintenance: −$1,224
• − Management: −$1,224
• − HOA: −$7,152
• − Depreciation: −$1,743
• Taxable loss: −$596
• Est. tax savings @ 24.0%: +$143
• After-tax cash flow: $111/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: Alma Public Schools
• NCES district ID: 2602640
• Math proficiency: 28% ▼ -9.00%
• Reading proficiency: 44% ▼ -3.00%
• Median HH income: $36,651
• Composite: 29.84/100
• National rank: #6415
• State rank: #288 of 540 in MI

Livability — Pine River

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 13,433

Population outlook (Gratiot County) Hauer SSP2

• Today (2025): 39,991 people
• By 2030: 38,944 · -2.6%
• By 2040: 36,694 · -8.2%
• By 2050: 34,314 · -14.2%
• By 2075: 27,693 · -30.8%
• By 2100: 20,809 · -48.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 10% Two or more races 4% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 5% Slovak 3% Iranian 2%
• Foreign-born: 2% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 4% French/Haitian/Cajun 1%

Political lean MEDSL · Gratiot

• 2024 margin: Solid R (+31.3) · D 33.7% · R 65.0% · Other 1.4%
• 2008→2024 swing: -35.7pp toward R · 2008: 4.4pp · 2024: -31.3pp
• All cycles: 2024: R+31.3 2020: R+28.3 2016: R+25.6 2012: R+3.9 2008: D+4.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -99.16%
• Current HPI: 210.3208
• 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

-14.4% since first listed

8 events — show timeline

• 2026-04-30 Listed $59,900 REALCOMP
• 2026-04-30 Listed $59,900 MiRealSource-MiMLS
• 2026-04-30 Listed $59,900 SW Michigan MLS
• 2026-04-25 Listing Removed — REALCOMP
• 2026-04-12 Relisted — REALCOMP
• 2026-04-11 Listing Removed — REALCOMP
• 2026-02-24 Price Changed $59,900 REALCOMP
• 2025-11-07 Listed $70,000 REALCOMP