1351 Cedar Ct · Gladwin, MI 48624

$204,900

3 bd · 2.0 ba · 2,240 sqft · SingleFamily · 14 Days on market

Built 1949 0.44 ac lot Est $264k · 22% under

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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 +22.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.4/10.0
• 1% rule +5.0/10.0
• 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

Welcome to 1351 Cedar Court – the home you've been waiting for! Completely remodeled and truly move-in ready, this stunning 3-bedroom, 2 full-bath ranch offers the perfect blend of modern updates and comfortable living. Featuring 1,440 square feet of beautifully renovated main-level living space plus an additional 1,000 square feet in the finished walkout basement, there's plenty of room for entertaining, relaxing, and everyday living. Recent improvements include a new metal roof, updated electrical and plumbing with PEX, re-excavated and resealed foundation, new windows throughout, new flooring, new kitchen cabinetry, updated fixtures, and ceiling fans. The spacious kitchen comes complete with stainless-steel appliances, along with a new washer and dryer for added convenience. Stay comfortable year-round with forced-air heating, and enjoy cozy evenings by the wood-burning fireplace in the living room. Walkout basement, a stylish wet bar with granite countertops, creating the perfect space for entertaining family and friends. Connected to city water and sewer, this home offers peace of mind and low-maintenance living with virtually every major update already completed. Opportunities like this don't come along often - schedule your private showing today before this exceptional home is gone! BATVAI

Key facts

• Move-in ready
• Remodeled
• New metal roof

Tags

• REMODELED
• MOVE-IN READY
• FINISHED WALKOUT BASEMENT
• NEW METAL ROOF
• UPDATED ELECTRICAL
• UPDATED PLUMBING

Property features AI

Exterior

• Parking: Attached garage with direct access (1 car)
• Utilities: Public water; Public sewer
• Home design: Single family residence; One level with ground-level entry and steps; Facing/entry at ground level with steps
• Construction: Metal roof; Built with other construction materials; Block foundation; Originally constructed (one-story) with finished living area above and additional finished area below
• Exterior features: Paved road access; Pets allowed

Interior

• Kitchen: Dishwasher; Microwave; Free‑standing electric range; Free‑standing refrigerator
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating; Natural gas heating; Wood stove heating; Ceiling fan(s) for cooling; Has heating
• Interior features: Gas water heater; Stainless steel appliances; Partially finished basement with walk-out access; Wood burning stove in living room fireplace; Ceiling fans
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $205k.

Deal economics

• At list price, monthly cash flow is $360 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $205k (0.1% below list).
• Recommended offer: $205k (0.1% below list) — sets the bar for 1% rule.

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: 287 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

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 20y 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.
• Current owner paid $55k; list at $205k implies a 273% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $204,666 (0.1% below list)

Questions for the listing agent

1. Built in 1949 — 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. 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?
4. 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.
5. 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.
6. 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: 1.00% ✗
• Cap rate: 8.40%
• Cash-on-cash: 7.54%
• DSCR: 1.34
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $264,320
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
429 St Andrews Ct	0.37mi	3/2.0	2,240 (0%)	2mo	$265,000	$118	82
1351 Cedar Ct	0.00mi	2/1.5 (-1)	2,040 (-9%)	19mo	$55,000	$27	62

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: -4.8%
• Equity multiple: 0.82×
• Total profit: $-10,312
• Equity at exit: $30,551

10-year hold

• IRR: 4.8%
• Equity multiple: 1.35×
• Total profit: $20,308
• Equity at exit: $17,716

Cash invested: $57,372 (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: 287
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,047 medium
• Mortgage (P&I): −$1,075
• Tax from tax record: −$97 /mo · $1,158/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $360

Break-even live

Break-even rent $1,590

Max offer price $204,900

Occupancy floor 77%

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: $51,225
• Closing costs: $6,147
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   days on market $204,900 Active 14 DOM
2. 2026-06-17
   days on market $204,900 Active 13 DOM
3. 2026-06-16
   days on market $204,900 Active 12 DOM
4. 2026-06-15
   days on market $204,900 Active 11 DOM
5. 2026-06-13
   days on market $204,900 Active 9 DOM
6. 2026-06-12
   days on market $204,900 Active 8 DOM
7. 2026-06-09
   days on market $204,900 Active 5 DOM
8. 2026-06-08
   days on market $204,900 Active 4 DOM
9. 2026-06-07
   days on market $204,900 Active 3 DOM
10. 2026-06-07
    remarks 693-char remark
11. 2026-06-07
    listed $204,900 Active 2 DOM

ⓘ 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: $1,158 · $97/mo
• Projected year-2 tax: $2,157 · $180/mo
• Expected delta: +$999/yr (+$83/mo · 86.2%)

ⓘ 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 3/10 Moderate
• 🌡 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: $24,560
• − Mortgage interest: −$11,478
• − Property taxes: −$1,158
• − Insurance: −$1,024
• − Repairs & maintenance: −$1,965
• − Management: −$1,965
• − Depreciation: −$5,961
• Taxable income: $1,009
• Est. tax owed @ 24.0%: −$242
• After-tax cash flow: $4,083/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

• Census place: Gladwin, MI
• 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

+95.3% since first listed

13 events — show timeline

• 2026-06-04 Listed $204,900 REALCOMP
• 2026-06-04 Listed $204,900 MiRealSource-MiMLS
• 2024-12-09 Sold (Public Records) $55,000 Public Records
• 2024-11-27 Sold (MLS) $55,000 MiRealSource-MiMLS
• 2024-11-27 Sold (MLS) $55,000 REALCOMP
• 2024-11-21 Pending — REALCOMP
• 2024-11-21 Pending — MiRealSource-MiMLS
• 2024-11-18 Listed $59,900 MiRealSource-MiMLS
• 2024-11-18 Listed $59,900 REALCOMP
• 2009-06-19 Sold (Public Records) $72,000 Public Records
• 2007-07-13 Listed $86,900 MiRealSource-MiMLS
• 2007-06-16 Listing Removed — MiRealSource-MiMLS
• 2006-12-18 Listed $104,900 MiRealSource-MiMLS

Property tax history

+2.2%/yr

Latest (2025): $1,158 · -14.3% YoY. Source: county tax records.