6622 Gage St · Gagetown, MI 48735

$49,900

3 bd · 1.0 ba · 1,088 sqft · SingleFamily public records · 1 Days on market

Built 1900 8,712 sqft lot

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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
• Appreciation +6.8/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0

Listing remarks MLS

Great opportunity on this 2-bedroom home just north of downtown Gagetown. The house features a spacious kitchen and formal dining room. First floor laundry room and full bath as well. The large living room offers lots of natural light. Upstairs are both bedrooms along with a bonus gaming/sitting area in between. The home sits on a partial basement/crawl. Outside you will find a 12'x10' shed as well. Only a 20-minute commute to Caro or 10 minutes to Cass City!

Key facts

• 12x10 shed
• Formal dining room
• Spacious kitchen

Tags

• SPACIOUS KITCHEN
• FORMAL DINING ROOM
• FIRST FLOOR LAUNDRY ROOM
• BONUS GAMING SITTING AREA
• PARTIAL BASEMENT CRAWL
• 12X10 SHED

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Ground-level entry with steps; Vinyl siding; Faces not specified
• Construction: Asphalt roof; Stone foundation; Built with vinyl siding
• Exterior features: Covered porch; Paved road frontage; Yard shed(s)

Interior

• Bedrooms: 7 total rooms (bedroom count not specified)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No central cooling
• Interior features: Gas water heater; Unfinished crawl space basement
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $268 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($800 rent vs $50k).

Location & tenants

• Location reads 60/100 on livability (#588 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools F, crime F.
• Owendale-Gagetown Area School District (rural): math 6% / reading 25% proficiency, ranked #663 of 760 in MI (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 3 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 56 units permitted in Tuscola County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($345 loan paydown + $2k appreciation (3.6% local appreciation)).
• Tuscola County population projected at -29% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.6% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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 $38k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $49,900

Questions for the listing agent

1. Built in 1900 — 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. 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?
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: 1.60% ✓
• Cap rate: 12.74%
• Cash-on-cash: 23.04%
• DSCR: 2.02
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.62% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 30.4%
• Equity multiple: 2.77×
• Total profit: $24,766
• Equity at exit: $24,190

10-year hold

• IRR: 30.2%
• Equity multiple: 5.46×
• Total profit: $62,275
• Equity at exit: $38,705

Cash invested: $13,972 (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 48735

• Home prices YoY: 2.0%
• Active inventory: 3
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $800 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$81 /mo · $976/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$168
• Net cashflow: $268

Break-even live

Break-even rent $460

Max offer price $49,900

Occupancy floor 61%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4923 Center St Unit 1 Gagetown, MI	2.0	1.0	1000	$800	$0.80	44d	1	0.30mi

Listing history 9 events

1. 2026-05-26
   listed $49,900 Active

   Show marketing remark (463 chars)

   Great opportunity on this 2-bedroom home just north of downtown Gagetown. The house features a spacious kitchen and formal dining room. First floor laundry room and full bath as well. The large living room offers lots of natural light. Upstairs are both bedrooms along with a bonus gaming/sitting area in between. The home sits on a partial basement/crawl. Outside you will find a 12'x10' shed as well. Only a 20-minute commute to Caro or 10 minutes to Cass City!

2. 2026-05-26
   listed $49,900 Active 463-char remark

   Show marketing remark (463 chars)

   Great opportunity on this 2-bedroom home just north of downtown Gagetown. The house features a spacious kitchen and formal dining room. First floor laundry room and full bath as well. The large living room offers lots of natural light. Upstairs are both bedrooms along with a bonus gaming/sitting area in between. The home sits on a partial basement/crawl. Outside you will find a 12'x10' shed as well. Only a 20-minute commute to Caro or 10 minutes to Cass City!

3. 2026-04-28
   historical
4. 2026-04-28
   historical
5. 2026-01-11
   price $50,000
6. 2026-01-10
   price $50,000
7. 2025-11-05
   listed $65,000 Active
8. 2025-11-05
   listed $65,000 Active
9. 2000-08-01
   soldstatus $37,900

ⓘ 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: $976 · $81/mo
• Projected year-2 tax: $976 · $81/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°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: $9,600
• − Mortgage interest: −$2,795
• − Property taxes: −$976
• − Insurance: −$250
• − Repairs & maintenance: −$768
• − Management: −$768
• − Depreciation: −$1,452
• Taxable income: $2,592
• Est. tax owed @ 24.0%: −$622
• After-tax cash flow: $2,597/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: Owendale-Gagetown Area School District
• NCES district ID: 2627180
• Math proficiency: 6% ▼ -9.00%
• Reading proficiency: 25% ▲ 10.00%
• Median HH income: $44,365
• Composite: 17.04/100
• National rank: #14189
• State rank: #663 of 760 in MI

Livability — Gagetown

• Score: 60/100
• State rank: #588
• US rank: #19221

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gagetown, MI
• Population (ZIP): 965

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 (92%)
• Race & ethnicity: White 92% Two or more races 3% Hispanic / Latino 2% Black 1%
• Common ancestry: Romanian 7% Lithuanian 3% Slovak 2%
• Foreign-born: 0%

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: ▲ 3.62%
• Current HPI: 184.7623
• 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

+31.7% since first listed

9 events — show timeline

• 2026-05-26 Listed $49,900 REALCOMP
• 2026-05-26 Listed $49,900 MiRealSource-MiMLS
• 2026-04-28 Listing Removed — REALCOMP
• 2026-04-28 Listing Removed — MiRealSource-MiMLS
• 2026-01-11 Price Changed $50,000 MiRealSource-MiMLS
• 2026-01-10 Price Changed $50,000 REALCOMP
• 2025-11-05 Listed $65,000 REALCOMP
• 2025-11-05 Listed $65,000 MiRealSource-MiMLS
• 2000-08-01 Sold (Public Records) $37,900 Public Records

Property tax history

-2.8%/yr

Latest (2025): $976 · +8.4% YoY. Source: county tax records.