6176 S Broadway St · Yates, MI 49642

$70,000

2 bd · 1.0 ba · 780 sqft · SingleFamily · 85 Days on market

Built 1950 Fair condition 0.58 ac lot $90/sqft · 31% below area Est $102k · 31% under

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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 +26.5/30.0
• ARV discount +15.0/15.0
• DSCR +9.0/10.0
• 1% rule +7.1/10.0
• Appreciation +5.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Schools +2.3/10.0
• Condition / age +2.2/5.0

Listing remarks MLS

6176 S Broadway, Idlewild, MI (Historic Idlewild) -- Opportunity in Historic Idlewild (''Black Eden''), a landmark African American resort community (est. 1912; National Register of Historic Places). The original 1950 single-story 2BR/1BA home approx. 780 sq. ft. converted into a 6-room layout Dog Grooming Salon. This includes a reception area, kennel room, grooming room, lounge area, a half bath and a utility room with a sink. Features include electric forced-air heat, central A/C, and an electric hot-water heater. Wheelchair-accessible ramp at front entry. Zoned RC Residential (Yates Township); Lake County records note ''Business Improved'' for Misc. Commercial Services . Two parcels included: 15-202-001-00 (0.26 ac, improved corner lot) + 15-202-001-51 (0.32 ac, vacant wooded parcel south) = 0.58 ac total. Use as-is (excluding grooming equipment) or adapt to your needs.

Key facts

• Grooming room
• Half bath
• Lounge area

Tags

• HISTORIC IDLEWILD
• RECEPTION AREA
• KENNEL ROOM
• GROOMING ROOM
• LOUNGE AREA
• HALF BATH

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $184 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($846 rent vs $70k).
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Baldwin Community Schools (rural): math 21% / reading 28% proficiency, ranked #618 of 760 in MI (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 85% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 46 active listings in the ZIP; 30 units permitted in Lake County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($484 loan paydown + $2k appreciation (3.0% local appreciation)).
• Lake County population projected at -22% 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 $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 3 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: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.21% ✓
• Cap rate: 9.46%
• Cash-on-cash: 11.29%
• DSCR: 1.50
• GRM: 6.9

CMA / ARV

• ARV (median comp): $101,858
• List price: $70,000
• Delta: -31.28%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14355 W Ostrander Dr	0.56mi	1/1.0 (-1)	684 (-12%)	13mo	$238,000	$348	37

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: 18.1%
• Equity multiple: 2.03×
• Total profit: $20,194
• Equity at exit: $31,475

10-year hold

• IRR: 19.5%
• Equity multiple: 3.83×
• Total profit: $55,451
• Equity at exit: $48,507

Cash invested: $19,600 (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 49642

• Active inventory: 46
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $846 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$88 /mo · $1,050/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$178
• Net cashflow: $184

Break-even live

Break-even rent $612

Max offer price $70,000

Occupancy floor 73%

Sensitivity live

Price	-10% $233	-5% $209	+0% $184	+5% $160	+10% $136
Rent	-10% $118	-5% $151	+0% $184	+5% $218	+10% $251
Rate	-1.0pp $220	-0.5pp $202	base $184	+0.5pp $166	+1.0pp $148

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $70,000 Active 85 DOM
2. 2026-06-18
   days on market $70,000 Active 83 DOM
3. 2026-06-17
   days on market $70,000 Active 82 DOM
4. 2026-06-16
   days on market $70,000 Active 81 DOM
5. 2026-06-15
   days on market $70,000 Active 80 DOM
6. 2026-06-13
   days on market $70,000 Active 78 DOM
7. 2026-06-12
   days on market $70,000 Active 77 DOM
8. 2026-06-09
   days on market $70,000 Active 74 DOM
9. 2026-06-08
   days on market $70,000 Active 73 DOM
10. 2026-06-07
    days on market $70,000 Active 72 DOM
11. 2026-06-07
    days on market $70,000 Active 71 DOM
12. 2026-06-04
    days on market $70,000 Active 68 DOM
13. 2026-06-02
    days on market $70,000 Active 67 DOM
14. 2026-06-01
    days on market $70,000 Active 66 DOM
15. 2026-05-31
    days on market $70,000 Active 65 DOM
16. 2026-05-31
    days on market $70,000 Active 64 DOM
17. 2026-03-27
    listed $70,000 Active 887-char remark

    Show marketing remark (887 chars)

    6176 S Broadway, Idlewild, MI (Historic Idlewild) -- Opportunity in Historic Idlewild (''Black Eden''), a landmark African American resort community (est. 1912; National Register of Historic Places). The original 1950 single-story 2BR/1BA home approx. 780 sq. ft. converted into a 6-room layout Dog Grooming Salon. This includes a reception area, kennel room, grooming room, lounge area, a half bath and a utility room with a sink. Features include electric forced-air heat, central A/C, and an electric hot-water heater. Wheelchair-accessible ramp at front entry. Zoned RC Residential (Yates Township); Lake County records note ''Business Improved'' for Misc. Commercial Services . Two parcels included: 15-202-001-00 (0.26 ac, improved corner lot) + 15-202-001-51 (0.32 ac, vacant wooded parcel south) = 0.58 ac total. Use as-is (excluding grooming equipment) or adapt to your needs.

18. 2026-03-27
    listed $70,000 Active 887-char remark

    Show marketing remark (887 chars)

    6176 S Broadway, Idlewild, MI (Historic Idlewild) -- Opportunity in Historic Idlewild (''Black Eden''), a landmark African American resort community (est. 1912; National Register of Historic Places). The original 1950 single-story 2BR/1BA home approx. 780 sq. ft. converted into a 6-room layout Dog Grooming Salon. This includes a reception area, kennel room, grooming room, lounge area, a half bath and a utility room with a sink. Features include electric forced-air heat, central A/C, and an electric hot-water heater. Wheelchair-accessible ramp at front entry. Zoned RC Residential (Yates Township); Lake County records note ''Business Improved'' for Misc. Commercial Services . Two parcels included: 15-202-001-00 (0.26 ac, improved corner lot) + 15-202-001-51 (0.32 ac, vacant wooded parcel south) = 0.58 ac total. Use as-is (excluding grooming equipment) or adapt to your needs.

19. 2026-03-27
    listed $70,000 Active

    Show marketing remark (887 chars)

    6176 S Broadway, Idlewild, MI (Historic Idlewild) -- Opportunity in Historic Idlewild (''Black Eden''), a landmark African American resort community (est. 1912; National Register of Historic Places). The original 1950 single-story 2BR/1BA home approx. 780 sq. ft. converted into a 6-room layout Dog Grooming Salon. This includes a reception area, kennel room, grooming room, lounge area, a half bath and a utility room with a sink. Features include electric forced-air heat, central A/C, and an electric hot-water heater. Wheelchair-accessible ramp at front entry. Zoned RC Residential (Yates Township); Lake County records note ''Business Improved'' for Misc. Commercial Services . Two parcels included: 15-202-001-00 (0.26 ac, improved corner lot) + 15-202-001-51 (0.32 ac, vacant wooded parcel south) = 0.58 ac total. Use as-is (excluding grooming equipment) or adapt to your needs.

ⓘ 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: $10,150
• − Mortgage interest: −$3,921
• − Property taxes: −$1,050
• − Insurance: −$350
• − Repairs & maintenance: −$812
• − Management: −$812
• − Depreciation: −$2,036
• Taxable income: $1,169
• Est. tax owed @ 24.0%: −$280
• After-tax cash flow: $1,933/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.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

This property requires significant updates to its interior and exterior to improve its condition and increase its value for resale and rental.

Repairs flagged

• Major Kitchen cabinets — The cabinets are outdated and in poor condition.
• Major Bathroom fixtures — The bathroom needs new fixtures and possibly a complete renovation.
• Major Exterior siding — The siding appears to be in poor condition and may need repainting or replacement.

Value-add opportunities

• Both Paint interior walls and replace checkered flooring — Updating the interior walls and flooring will improve the home's appearance and increase its value for both resale and rental.
• Both Replace exterior siding and paint — Updating the exterior will improve the home's curb appeal and increase its value for both resale and rental.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · The cabinets are outdated and in poor condition.	Major	$15,000–50,000
Bathroom fixtures · The bathroom needs new fixtures and possibly a complete renovation.	Major	$15,000–50,000
Exterior siding · The siding appears to be in poor condition and may need repainting or replacement.	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both Paint interior walls and replace checkered flooring — Updating the interior walls and flooring will improve the home's appearance and increase its value for both resale and rental. ↑
• Both Replace exterior siding and paint — Updating the exterior will improve the home's curb appeal and increase its value for both resale and rental. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Baldwin Community Schools
• NCES district ID: 2603810
• Math proficiency: 21% ▲ 3.00%
• Reading proficiency: 28% ▼ -2.00%
• Median HH income: $27,638
• Composite: 22.56/100
• National rank: #13447
• State rank: #618 of 760 in MI

Livability — Yates

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

Census & demographics

• Population (ZIP): 1,062

Population outlook (Lake County) Hauer SSP2

• Today (2025): 10,933 people
• By 2030: 10,503 · -3.9%
• By 2040: 9,470 · -13.4%
• By 2050: 8,526 · -22.0%
• By 2075: 7,160 · -34.5%
• By 2100: 5,634 · -48.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 46% Black 42% Two or more races 9% Hispanic / Latino 3%
• Common ancestry: German 2% Lithuanian 2% Romanian 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Lake

• 2024 margin: Solid R (+32.2) · D 33.2% · R 65.4% · Other 1.4%
• 2008→2024 swing: -44.5pp toward R · 2008: 12.3pp · 2024: -32.2pp
• All cycles: 2024: R+32.2 2020: R+26.2 2016: R+22.9 2012: D+5.0 2008: D+12.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+0.0% since first listed

3 events — show timeline

• 2026-03-27 Listed $70,000 MiRealSource-MiMLS
• 2026-03-27 Listed $70,000 REALCOMP
• 2026-03-27 Listed $70,000 SW Michigan MLS