6629 S Tampa · Yates, MI 49642

$49,900

1 bd · 1.0 ba · 15,000 sqft · SingleFamily · 92 Days on market

Built 1900 Poor condition 0.34 ac lot

---

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 +5.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Schools +2.3/10.0
• Condition / age +1.0/5.0

Listing remarks MLS

Rare Buildable Lot Across from Paradise Lake (Lake view) Here is a rare opportunity to own close to half an acre of buildable lots (land) in the heart of the historic community of Idlewild, one of the most significant and rapidly resurging lake communities in the Midwest. This plot of land offers over 15000 square feet of land and is perfectly positioned across the street from the boat launch to Paradise Lake. This is a prime location in Idlewild! This elevated parcel offers both convenience and scenic lake views, making it an exceptional setting for a future cottage, vacation retreat, or year-round home. Buildable lots in this part of Idlewild rarely come to market, especially in such close proximity to the lake and boat access. As interest in the community continues to grow, opportunities like this are becoming increasingly hard to find. Adding further value and clarity for a future buyer, a SURVEY HAS BEEN COMPLETED by Wetherell Land Surveying, helping clearly define the property lines and providing an important step toward planning your future build. Idlewild is experiencing a revitalization, with renewed investment, cultural events, and a new generation of homeowners rediscovering the magic of this historic lakeside community. Whether you're looking to build a private getaway, invest in a growing destination, or become part of Idlewild's ongoing renaissance, this property offers the ideal combination of location, buildability, lake access, and historical significance. Don't miss your chance to be part of Idlewild's next chapter!

Key facts

• Elevated parcel
• Scenic lake views
• Lake view

Tags

• LAKE VIEW
• BOAT LAUNCH ACCESS
• ELEVATED PARCEL
• SCENIC LAKE VIEWS
• COMPLETED SURVEY
• HISTORICAL SIGNIFICANCE

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $50k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $406 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($951 rent vs $50k).
• Recommended offer: $45k (9.0% 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: 45 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 $2k of equity ($345 loan paydown + $1k 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 $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($45k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $10k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $45,409 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% 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 1900 — 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: 1.90% ✓
• Cap rate: 16.06%
• Cash-on-cash: 34.87%
• DSCR: 2.55
• GRM: 4.4

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: 40.5%
• Equity multiple: 3.28×
• Total profit: $31,887
• Equity at exit: $22,437

10-year hold

• IRR: 40.5%
• Equity multiple: 6.53×
• Total profit: $77,299
• Equity at exit: $34,578

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 49642

• Active inventory: 45
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $951 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $748/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $406

Break-even live

Break-even rent $437

Max offer price $49,900

Occupancy floor 52%

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: —

Listing history 19 events

1. 2026-06-18
   days on market $49,900 Active 92 DOM
2. 2026-06-17
   days on market $49,900 Active 91 DOM
3. 2026-06-16
   days on market $49,900 Active 90 DOM
4. 2026-06-15
   pricedays on market $49,900 Active 89 DOM
5. 2026-06-13
   days on market $54,000 Active 87 DOM
6. 2026-06-12
   days on market $54,000 Active 86 DOM
7. 2026-06-09
   days on market $54,000 Active 83 DOM
8. 2026-06-08
   days on market $54,000 Active 82 DOM
9. 2026-06-07
   days on market $54,000 Active 81 DOM
10. 2026-06-07
    days on market $54,000 Active 80 DOM
11. 2026-06-04
    days on market $54,000 Active 77 DOM
12. 2026-06-02
    pricedays on market $54,000 Active 76 DOM
13. 2026-06-01
    days on market $60,000 Active 75 DOM
14. 2026-05-31
    days on market $60,000 Active 74 DOM
15. 2026-05-31
    days on market $60,000 Active 73 DOM
16. 2026-03-18
    listed $60,000 Active 1560-char remark

    Show marketing remark (1560 chars)

    Rare Buildable Lot Across from Paradise Lake (Lake view) Here is a rare opportunity to own close to half an acre of buildable lots (land) in the heart of the historic community of Idlewild, one of the most significant and rapidly resurging lake communities in the Midwest. This plot of land offers over 15000 square feet of land and is perfectly positioned across the street from the boat launch to Paradise Lake. This is a prime location in Idlewild! This elevated parcel offers both convenience and scenic lake views, making it an exceptional setting for a future cottage, vacation retreat, or year-round home. Buildable lots in this part of Idlewild rarely come to market, especially in such close proximity to the lake and boat access. As interest in the community continues to grow, opportunities like this are becoming increasingly hard to find. Adding further value and clarity for a future buyer, a SURVEY HAS BEEN COMPLETED by Wetherell Land Surveying, helping clearly define the property lines and providing an important step toward planning your future build. Idlewild is experiencing a revitalization, with renewed investment, cultural events, and a new generation of homeowners rediscovering the magic of this historic lakeside community. Whether you're looking to build a private getaway, invest in a growing destination, or become part of Idlewild's ongoing renaissance, this property offers the ideal combination of location, buildability, lake access, and historical significance. Don't miss your chance to be part of Idlewild's next chapter!

17. 2026-03-18
    listed $60,000 Active 1560-char remark

    Show marketing remark (1560 chars)

    Rare Buildable Lot Across from Paradise Lake (Lake view) Here is a rare opportunity to own close to half an acre of buildable lots (land) in the heart of the historic community of Idlewild, one of the most significant and rapidly resurging lake communities in the Midwest. This plot of land offers over 15000 square feet of land and is perfectly positioned across the street from the boat launch to Paradise Lake. This is a prime location in Idlewild! This elevated parcel offers both convenience and scenic lake views, making it an exceptional setting for a future cottage, vacation retreat, or year-round home. Buildable lots in this part of Idlewild rarely come to market, especially in such close proximity to the lake and boat access. As interest in the community continues to grow, opportunities like this are becoming increasingly hard to find. Adding further value and clarity for a future buyer, a SURVEY HAS BEEN COMPLETED by Wetherell Land Surveying, helping clearly define the property lines and providing an important step toward planning your future build. Idlewild is experiencing a revitalization, with renewed investment, cultural events, and a new generation of homeowners rediscovering the magic of this historic lakeside community. Whether you're looking to build a private getaway, invest in a growing destination, or become part of Idlewild's ongoing renaissance, this property offers the ideal combination of location, buildability, lake access, and historical significance. Don't miss your chance to be part of Idlewild's next chapter!

18. 2026-03-18
    listed $60,000 Active

    Show marketing remark (1560 chars)

    Rare Buildable Lot Across from Paradise Lake (Lake view) Here is a rare opportunity to own close to half an acre of buildable lots (land) in the heart of the historic community of Idlewild, one of the most significant and rapidly resurging lake communities in the Midwest. This plot of land offers over 15000 square feet of land and is perfectly positioned across the street from the boat launch to Paradise Lake. This is a prime location in Idlewild! This elevated parcel offers both convenience and scenic lake views, making it an exceptional setting for a future cottage, vacation retreat, or year-round home. Buildable lots in this part of Idlewild rarely come to market, especially in such close proximity to the lake and boat access. As interest in the community continues to grow, opportunities like this are becoming increasingly hard to find. Adding further value and clarity for a future buyer, a SURVEY HAS BEEN COMPLETED by Wetherell Land Surveying, helping clearly define the property lines and providing an important step toward planning your future build. Idlewild is experiencing a revitalization, with renewed investment, cultural events, and a new generation of homeowners rediscovering the magic of this historic lakeside community. Whether you're looking to build a private getaway, invest in a growing destination, or become part of Idlewild's ongoing renaissance, this property offers the ideal combination of location, buildability, lake access, and historical significance. Don't miss your chance to be part of Idlewild's next chapter!

19. 2026-03-18
    listed $60,000 Active

    Show marketing remark (1560 chars)

    Rare Buildable Lot Across from Paradise Lake (Lake view) Here is a rare opportunity to own close to half an acre of buildable lots (land) in the heart of the historic community of Idlewild, one of the most significant and rapidly resurging lake communities in the Midwest. This plot of land offers over 15000 square feet of land and is perfectly positioned across the street from the boat launch to Paradise Lake. This is a prime location in Idlewild! This elevated parcel offers both convenience and scenic lake views, making it an exceptional setting for a future cottage, vacation retreat, or year-round home. Buildable lots in this part of Idlewild rarely come to market, especially in such close proximity to the lake and boat access. As interest in the community continues to grow, opportunities like this are becoming increasingly hard to find. Adding further value and clarity for a future buyer, a SURVEY HAS BEEN COMPLETED by Wetherell Land Surveying, helping clearly define the property lines and providing an important step toward planning your future build. Idlewild is experiencing a revitalization, with renewed investment, cultural events, and a new generation of homeowners rediscovering the magic of this historic lakeside community. Whether you're looking to build a private getaway, invest in a growing destination, or become part of Idlewild's ongoing renaissance, this property offers the ideal combination of location, buildability, lake access, and historical significance. Don't miss your chance to be part of Idlewild's next chapter!

ⓘ 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: $11,406
• − Mortgage interest: −$2,795
• − Property taxes: −$748
• − Insurance: −$250
• − Repairs & maintenance: −$912
• − Management: −$912
• − Depreciation: −$1,452
• Taxable income: $4,336
• Est. tax owed @ 24.0%: −$1,041
• After-tax cash flow: $3,832/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 · 12 photos

Poor 20/100 Extensive rehab

This property is in poor condition with overgrown vegetation and debris covering the entire property. Significant repairs and maintenance are required to improve its condition and increase its value.

Repairs flagged

• Major clear vegetation — Vegetation and debris cover the property
• Major remove debris — Vegetation and debris cover the property

Value-add opportunities

• Both clear vegetation and debris — Improves both resale and rental value by making the property more attractive
• Both landscaping — Improves both resale and rental value by enhancing curb appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
clear vegetation · Vegetation and debris cover the property	Major	$15,000–50,000
remove debris · Vegetation and debris cover the property	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both clear vegetation and debris — Improves both resale and rental value by making the property more attractive ↑
• Both landscaping — Improves both resale and rental value by enhancing curb appeal ↑

ⓘ 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

4 events — show timeline

• 2026-03-18 Listed $60,000 REALCOMP
• 2026-03-18 Listed $60,000 REALCOMP
• 2026-03-18 Listed $60,000 MiRealSource-MiMLS
• 2026-03-18 Listed $60,000 MiRealSource-MiMLS

Property tax history

+3.3%/yr

Latest (2024): $62 · +4.6% YoY. Source: county tax records.