4235 Buzzell Rd · Gladwin, MI 48624

$199,000

3 bd · 2.0 ba · 1,352 sqft · SingleFamily · 62 Days on market

Built 1996 1.56 ac lot $147/sqft · at area comps Est $191k · at est.

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Why this score? — see what drove the C- 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 +22.5/30.0
• DSCR +7.2/10.0
• 1% rule +5.9/10.0
• ARV discount +5.6/15.0
• 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

Escape to this private 3-bedroom, 2-bathroom ranch situated on a sprawling 1.5-acre lot. This home offers the perfect blend of secluded country living and modern convenience. The interior features stylish newer vinyl flooring throughout and a kitchen equipped with all appliances, all within a functional single-level layout designed for effortless living. Set back in a serene, wooded setting, the property provides ultimate privacy with plenty of room for outdoor hobbies or quiet relaxation. Despite the quiet atmosphere, you are located just minutes from town with immediate access to premier golf courses, scenic trails, and top-tier trout fishing. Experience the best of the outdoors without sacrificing proximity to local amenities. Schedule your tour today!

Key facts

• Scenic trails
• Newer vinyl flooring
• Sprawling lot

Tags

• SPRAWLING LOT
• NEWER VINYL FLOORING
• FUNCTIONAL SINGLE-LEVEL LAYOUT
• SERENE WOODED SETTING
• SCENIC TRAILS
• TOP-TIER TROUT FISHING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $336 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Recommended offer: $187k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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: 289 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 $6k 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.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 22y 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.

Recommended offer $187,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.09% ✓
• Cap rate: 8.32%
• Cash-on-cash: 7.24%
• DSCR: 1.32
• GRM: 7.7

CMA / ARV

• ARV (median comp): $190,744
• List price: $199,000
• Delta: 4.33%
• Verdict: FAIR
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -5.2%
• Equity multiple: 0.81×
• Total profit: $-10,813
• Equity at exit: $29,672

10-year hold

• IRR: 4.5%
• Equity multiple: 1.33×
• Total profit: $18,273
• Equity at exit: $17,206

Cash invested: $55,720 (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: 289
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,166 medium
• Mortgage (P&I): −$1,044
• Tax est. 1.5%: −$249 /mo · $2,985/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $336

Break-even live

Break-even rent $1,741

Max offer price $199,000

Occupancy floor 79%

Sensitivity live

Price	-10% $474	-5% $405	+0% $336	+5% $267	+10% $198
Rent	-10% $165	-5% $250	+0% $336	+5% $422	+10% $507
Rate	-1.0pp $436	-0.5pp $387	base $336	+0.5pp $284	+1.0pp $232

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $199,000 Active 62 DOM
2. 2026-06-21
   days on market $199,000 Active 61 DOM
3. 2026-06-18
   days on market $199,000 Active 59 DOM
4. 2026-06-17
   days on market $199,000 Active 58 DOM
5. 2026-06-16
   days on market $199,000 Active 57 DOM
6. 2026-06-15
   days on market $199,000 Active 56 DOM
7. 2026-06-13
   days on market $199,000 Active 54 DOM
8. 2026-06-12
   days on market $199,000 Active 53 DOM
9. 2026-06-09
   days on market $199,000 Active 50 DOM
10. 2026-06-08
    days on market $199,000 Active 49 DOM
11. 2026-06-07
    days on market $199,000 Active 48 DOM
12. 2026-06-07
    days on market $199,000 Active 47 DOM
13. 2026-06-04
    days on market $199,000 Active 44 DOM
14. 2026-06-02
    days on market $199,000 Active 43 DOM
15. 2026-06-01
    days on market $199,000 Active 42 DOM
16. 2026-05-31
    days on market $199,000 Active 41 DOM
17. 2026-05-31
    days on market $199,000 Active 40 DOM
18. 2026-05-16
    status Active 766-char remark

    Show marketing remark (766 chars)

    Escape to this private 3-bedroom, 2-bathroom ranch situated on a sprawling 1.5-acre lot. This home offers the perfect blend of secluded country living and modern convenience. The interior features stylish newer vinyl flooring throughout and a kitchen equipped with all appliances, all within a functional single-level layout designed for effortless living. Set back in a serene, wooded setting, the property provides ultimate privacy with plenty of room for outdoor hobbies or quiet relaxation. Despite the quiet atmosphere, you are located just minutes from town with immediate access to premier golf courses, scenic trails, and top-tier trout fishing. Experience the best of the outdoors without sacrificing proximity to local amenities. Schedule your tour today!

19. 2026-05-09
    status Pending 766-char remark

    Show marketing remark (766 chars)

    Escape to this private 3-bedroom, 2-bathroom ranch situated on a sprawling 1.5-acre lot. This home offers the perfect blend of secluded country living and modern convenience. The interior features stylish newer vinyl flooring throughout and a kitchen equipped with all appliances, all within a functional single-level layout designed for effortless living. Set back in a serene, wooded setting, the property provides ultimate privacy with plenty of room for outdoor hobbies or quiet relaxation. Despite the quiet atmosphere, you are located just minutes from town with immediate access to premier golf courses, scenic trails, and top-tier trout fishing. Experience the best of the outdoors without sacrificing proximity to local amenities. Schedule your tour today!

20. 2026-04-13
    listed $199,000 Active 766-char remark

    Show marketing remark (766 chars)

    Escape to this private 3-bedroom, 2-bathroom ranch situated on a sprawling 1.5-acre lot. This home offers the perfect blend of secluded country living and modern convenience. The interior features stylish newer vinyl flooring throughout and a kitchen equipped with all appliances, all within a functional single-level layout designed for effortless living. Set back in a serene, wooded setting, the property provides ultimate privacy with plenty of room for outdoor hobbies or quiet relaxation. Despite the quiet atmosphere, you are located just minutes from town with immediate access to premier golf courses, scenic trails, and top-tier trout fishing. Experience the best of the outdoors without sacrificing proximity to local amenities. Schedule your tour today!

21. 2007-09-11
    historical
22. 2006-08-17
    listed $109,900
23. 2004-06-30
    listed $99,500

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

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 · 13 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: $25,994
• − Mortgage interest: −$11,147
• − Property taxes: −$2,985
• − Insurance: −$995
• − Repairs & maintenance: −$2,079
• − Management: −$2,079
• − Depreciation: −$5,789
• Taxable income: $919
• Est. tax owed @ 24.0%: −$220
• After-tax cash flow: $3,812/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

+100.0% since first listed

6 events — show timeline

• 2026-05-16 Relisted — MiRealSource-MiMLS
• 2026-05-09 Pending — MiRealSource-MiMLS
• 2026-04-13 Listed $199,000 MiRealSource-MiMLS
• 2007-09-11 Listing Removed — MiRealSource-MiMLS
• 2006-08-17 Listed $109,900 MiRealSource-MiMLS
• 2004-06-30 Listed $99,500 MiRealSource-MiMLS

Property tax history

-23.1%/yr

Latest (2019): $120 · +0.0% YoY. Source: county tax records.