4154 E Gedney Rd · Grout, MI 48624

$150,000

5 bd · 3.0 ba · 2,200 sqft · SingleFamily · 340 Days on market

Built 1900 1.00 ac lot $68/sqft · 50% below area

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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
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• ARV discount +7.5/15.0
• Schools +3.3/10.0
• 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

Here is your Peaceful Country Home. Room for everyone with 5 bedrooms, 3 full baths, 2 car garage, workshop, even a chicken coop. Plenty of room for kids to play yard games and folks to sit out and look at the scenery. Dual heating sources are Propane gas for furnace and hydronic wood burner that is pumped into basement furnace. System has 2 thermostats. Sale includes stove, refrigerator, 2 freezers 1 washer, 2 dryers, microwave, dishwasher and outdoor wood burner with wood pile. There is a 5" working well and a 1500 gallon septic system that was cleaned one year ago. The washer and dryer in the basement can be brought up to the utility room as the plumbing is ready to go there. The freezer would need to be moved. This home is pure country but close to Gladwin for shopping and gas. Includes all appliances: 2 dryers, 2 Washers, 2 Freezers, Refrigerator, Stove, Microwave, Dishwasher, Outdoor Wood Heater, Wood Pile.

Key facts

• Dual heating sources
• Working well
• Outdoor wood burner

Tags

• CHICKEN COOP
• DUAL HEATING SOURCES
• WORKING WELL
• 1500 GALLON SEPTIC SYSTEM
• OUTDOOR WOOD BURNER

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $710 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% 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.
• 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: 288 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 $4k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 340 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $90k; list at $150k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $132,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 340 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.40% ✓
• Cap rate: 11.97%
• Cash-on-cash: 20.29%
• DSCR: 1.90
• GRM: 5.9

CMA / ARV

• ARV (median comp): $301,709
• List price: $150,000
• Delta: -50.28%
• Verdict: UNDERPRICED
• Comps: 5 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 12.5%
• Equity multiple: 1.50×
• Total profit: $20,896
• Equity at exit: $22,365

10-year hold

• IRR: 21.4%
• Equity multiple: 2.82×
• Total profit: $76,348
• Equity at exit: $12,969

Cash invested: $42,000 (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: 288
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $2,105 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$104 /mo · $1,250/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$442
• Net cashflow: $710

Break-even live

Break-even rent $1,207

Max offer price $150,000

Occupancy floor 61%

Sensitivity live

Price	-10% $795	-5% $752	+0% $710	+5% $668	+10% $625
Rent	-10% $544	-5% $627	+0% $710	+5% $793	+10% $876
Rate	-1.0pp $786	-0.5pp $748	base $710	+0.5pp $671	+1.0pp $632

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $150,000 Active 340 DOM
2. 2026-06-18
   days on market $150,000 Active 338 DOM
3. 2026-06-17
   days on market $150,000 Active 337 DOM
4. 2026-06-16
   days on market $150,000 Active 336 DOM
5. 2026-06-15
   days on market $150,000 Active 335 DOM
6. 2026-06-13
   days on market $150,000 Active 333 DOM
7. 2026-06-12
   days on market $150,000 Active 332 DOM
8. 2026-06-09
   days on market $150,000 Active 329 DOM
9. 2026-06-08
   days on market $150,000 Active 328 DOM
10. 2026-06-07
    days on market $150,000 Active 327 DOM
11. 2026-06-07
    days on market $150,000 Active 326 DOM
12. 2026-06-04
    days on market $150,000 Active 323 DOM
13. 2026-06-02
    days on market $150,000 Active 322 DOM
14. 2026-06-01
    days on market $150,000 Active 321 DOM
15. 2026-05-31
    days on market $150,000 Active 320 DOM
16. 2026-05-31
    days on market $150,000 Active 319 DOM
17. 2026-04-04
    price $150,000 931-char remark

    Show marketing remark (931 chars)

    Here is your Peaceful Country Home. Room for everyone with 5 bedrooms, 3 full baths, 2 car garage, workshop, even a chicken coop. Plenty of room for kids to play yard games and folks to sit out and look at the scenery. Dual heating sources are Propane gas for furnace and hydronic wood burner that is pumped into basement furnace. System has 2 thermostats. Sale includes stove, refrigerator, 2 freezers 1 washer, 2 dryers, microwave, dishwasher and outdoor wood burner with wood pile. There is a 5" working well and a 1500 gallon septic system that was cleaned one year ago. The washer and dryer in the basement can be brought up to the utility room as the plumbing is ready to go there. The freezer would need to be moved. This home is pure country but close to Gladwin for shopping and gas. Includes all appliances: 2 dryers, 2 Washers, 2 Freezers, Refrigerator, Stove, Microwave, Dishwasher, Outdoor Wood Heater, Wood Pile.

18. 2026-01-14
    price $190,000 931-char remark

    Show marketing remark (931 chars)

    Here is your Peaceful Country Home. Room for everyone with 5 bedrooms, 3 full baths, 2 car garage, workshop, even a chicken coop. Plenty of room for kids to play yard games and folks to sit out and look at the scenery. Dual heating sources are Propane gas for furnace and hydronic wood burner that is pumped into basement furnace. System has 2 thermostats. Sale includes stove, refrigerator, 2 freezers 1 washer, 2 dryers, microwave, dishwasher and outdoor wood burner with wood pile. There is a 5" working well and a 1500 gallon septic system that was cleaned one year ago. The washer and dryer in the basement can be brought up to the utility room as the plumbing is ready to go there. The freezer would need to be moved. This home is pure country but close to Gladwin for shopping and gas. Includes all appliances: 2 dryers, 2 Washers, 2 Freezers, Refrigerator, Stove, Microwave, Dishwasher, Outdoor Wood Heater, Wood Pile.

19. 2025-11-01
    price $199,000 931-char remark

    Show marketing remark (931 chars)

    Here is your Peaceful Country Home. Room for everyone with 5 bedrooms, 3 full baths, 2 car garage, workshop, even a chicken coop. Plenty of room for kids to play yard games and folks to sit out and look at the scenery. Dual heating sources are Propane gas for furnace and hydronic wood burner that is pumped into basement furnace. System has 2 thermostats. Sale includes stove, refrigerator, 2 freezers 1 washer, 2 dryers, microwave, dishwasher and outdoor wood burner with wood pile. There is a 5" working well and a 1500 gallon septic system that was cleaned one year ago. The washer and dryer in the basement can be brought up to the utility room as the plumbing is ready to go there. The freezer would need to be moved. This home is pure country but close to Gladwin for shopping and gas. Includes all appliances: 2 dryers, 2 Washers, 2 Freezers, Refrigerator, Stove, Microwave, Dishwasher, Outdoor Wood Heater, Wood Pile.

20. 2025-07-14
    listed $235,000 Active 931-char remark

    Show marketing remark (931 chars)

    Here is your Peaceful Country Home. Room for everyone with 5 bedrooms, 3 full baths, 2 car garage, workshop, even a chicken coop. Plenty of room for kids to play yard games and folks to sit out and look at the scenery. Dual heating sources are Propane gas for furnace and hydronic wood burner that is pumped into basement furnace. System has 2 thermostats. Sale includes stove, refrigerator, 2 freezers 1 washer, 2 dryers, microwave, dishwasher and outdoor wood burner with wood pile. There is a 5" working well and a 1500 gallon septic system that was cleaned one year ago. The washer and dryer in the basement can be brought up to the utility room as the plumbing is ready to go there. The freezer would need to be moved. This home is pure country but close to Gladwin for shopping and gas. Includes all appliances: 2 dryers, 2 Washers, 2 Freezers, Refrigerator, Stove, Microwave, Dishwasher, Outdoor Wood Heater, Wood Pile.

21. 2017-09-14
    soldstatus $90,000
22. 2007-04-23
    soldstatus $25,000

ⓘ 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: $1,250 · $104/mo
• Projected year-2 tax: $1,780 · $148/mo
• Expected delta: +$530/yr (+$44/mo · 42.4%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 14 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: $25,265
• − Mortgage interest: −$8,402
• − Property taxes: −$1,250
• − Insurance: −$750
• − Repairs & maintenance: −$2,021
• − Management: −$2,021
• − Depreciation: −$4,364
• Taxable income: $6,457
• Est. tax owed @ 24.0%: −$1,550
• After-tax cash flow: $6,971/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 — Grout

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

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

+500.0% since first listed

6 events — show timeline

• 2026-04-04 Price Changed $150,000 MiRealSource-MiMLS
• 2026-01-14 Price Changed $190,000 MiRealSource-MiMLS
• 2025-11-01 Price Changed $199,000 MiRealSource-MiMLS
• 2025-07-14 Listed $235,000 MiRealSource-MiMLS
• 2017-09-14 Sold (Public Records) $90,000 Public Records
• 2007-04-23 Sold (Public Records) $25,000 Public Records

Property tax history

+10.1%/yr

Latest (2020): $1,250 · +2.7% YoY. Source: county tax records.