6120 Kellogg Dr · Otsego Lake, MI 49735

$142,500

3 bd · 2.0 ba · 1,038 sqft · SingleFamily · 210 Days on market

Built 1976 10,018 sqft lot $137/sqft · 15% above area Est $124k · 15% over

---

Why this score? — see what drove the D- 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 +17.2/30.0
• DSCR +5.4/10.0
• 1% rule +4.4/10.0
• Schools +4.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.8/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sellers have purchased a 1 year home warranty! Beautifully updated 3 bed, 2 full bath home in Gaylord with nearly every major upgrade completed in 2025! Enjoy peace of mind with a new furnace, central A/C, water heater, & well pump. All new PEX plumbing, fresh interior & exterior paint, new carpet, window trim, & closet doors throughout. The kitchen features newer appliances & modern finishes, while both bathrooms have updated vanities & fixtures. Outside, relax in the fenced backyard with a new Texas-style grill, refreshed landscaping, & newly painted decks. The detached garage includes a new opener, less than a 4 year old roof, & a dedicated wall furnace--perfect for year-round use. Move-in ready. An Affidavit of Affixture has been recorded. Conventional or Cash offers only.

Key facts

• New furnace
• New pex plumbing
• Water heater

Tags

• NEW FURNACE
• CENTRAL A/C
• WATER HEATER
• WELL PUMP
• NEW PEX PLUMBING
• FENCED BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $142k.

Deal economics

• At list price, monthly cash flow is $102 ($1k/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 $134k (6.2% below list).
• Recommended offer: $125k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Gaylord Community Schools (rural): math 43% / reading 53% proficiency, ranked #123 of 540 in MI (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 206 active listings in the ZIP; 24 units permitted in Otsego County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $985 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Otsego County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 210 days — a 12% lower offer ($125k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 7y ago; this cycle's ask has dropped $27k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $68k; list at $142k implies a 110% gain — meaningful room to come down on a strong offer.

Recommended offer $125,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 210 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 1976 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.94% ✗
• Cap rate: 7.15%
• Cash-on-cash: 3.05%
• DSCR: 1.14
• GRM: 8.9

CMA / ARV

• ARV (median comp): $124,127
• List price: $142,500
• Delta: 14.80%
• Verdict: OVERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
976 Lakeview Ave	0.32mi	2/1.0 (-1)	1,040 (+0%)	2mo	$415,000	$399	74
510 Edelweiss Trl	0.19mi	2/2.0 (-1)	1,000 (-4%)	9mo	$60,000	$60	72
434 Trillium Trl	0.25mi	2/1.0 (-1)	980 (-6%)	12mo	$90,000	$92	60

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: -11.5%
• Equity multiple: 0.58×
• Total profit: $-16,624
• Equity at exit: $21,247

10-year hold

• IRR: -2.3%
• Equity multiple: 0.85×
• Total profit: $-6,143
• Equity at exit: $12,321

Cash invested: $39,900 (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 49735

• Home prices YoY: -27.8%
• Active inventory: 206
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,337 medium
• Mortgage (P&I): −$747
• Tax from tax record: −$148 /mo · $1,778/yr
• Insurance: −$59
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $102

Break-even live

Break-even rent $1,209

Max offer price $142,500

Occupancy floor 87%

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: $35,625
• Closing costs: $4,275
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-18
   days on market $142,500 Active 210 DOM
2. 2026-06-17
   days on market $142,500 Active 209 DOM
3. 2026-06-16
   days on market $142,500 Active 208 DOM
4. 2026-06-15
   days on market $142,500 Active 207 DOM
5. 2026-06-13
   days on market $142,500 Active 205 DOM
6. 2026-06-12
   days on market $142,500 Active 204 DOM
7. 2026-06-09
   days on market $142,500 Active 201 DOM
8. 2026-06-08
   days on market $142,500 Active 200 DOM
9. 2026-06-07
   days on market $142,500 Active 199 DOM
10. 2026-06-07
    days on market $142,500 Active 198 DOM
11. 2026-06-04
    days on market $142,500 Active 195 DOM
12. 2026-06-02
    days on market $142,500 Active 194 DOM
13. 2026-06-01
    days on market $142,500 Active 193 DOM
14. 2026-05-31
    days on market $142,500 Active 192 DOM
15. 2026-05-31
    days on market $142,500 Active 191 DOM
16. 2026-05-08
    price $142,500 825-char remark

    Show marketing remark (825 chars)

    Sellers have purchased a 1 year home warranty! Beautifully updated 3 bed, 2 full bath home in Gaylord with nearly every major upgrade completed in 2025! Enjoy peace of mind with a new furnace, central A/C, water heater, & well pump. All new PEX plumbing, fresh interior & exterior paint, new carpet, window trim, & closet doors throughout. The kitchen features newer appliances & modern finishes, while both bathrooms have updated vanities & fixtures. Outside, relax in the fenced backyard with a new Texas-style grill, refreshed landscaping, & newly painted decks. The detached garage includes a new opener, less than a 4 year old roof, & a dedicated wall furnace--perfect for year-round use. Move-in ready. An Affidavit of Affixture has been recorded. Conventional or Cash offers only.

17. 2026-03-23
    status Active 825-char remark

    Show marketing remark (825 chars)

    Sellers have purchased a 1 year home warranty! Beautifully updated 3 bed, 2 full bath home in Gaylord with nearly every major upgrade completed in 2025! Enjoy peace of mind with a new furnace, central A/C, water heater, & well pump. All new PEX plumbing, fresh interior & exterior paint, new carpet, window trim, & closet doors throughout. The kitchen features newer appliances & modern finishes, while both bathrooms have updated vanities & fixtures. Outside, relax in the fenced backyard with a new Texas-style grill, refreshed landscaping, & newly painted decks. The detached garage includes a new opener, less than a 4 year old roof, & a dedicated wall furnace--perfect for year-round use. Move-in ready. An Affidavit of Affixture has been recorded. Conventional or Cash offers only.

18. 2026-03-11
    historical Active Under Contract 825-char remark

    Show marketing remark (825 chars)

    Sellers have purchased a 1 year home warranty! Beautifully updated 3 bed, 2 full bath home in Gaylord with nearly every major upgrade completed in 2025! Enjoy peace of mind with a new furnace, central A/C, water heater, & well pump. All new PEX plumbing, fresh interior & exterior paint, new carpet, window trim, & closet doors throughout. The kitchen features newer appliances & modern finishes, while both bathrooms have updated vanities & fixtures. Outside, relax in the fenced backyard with a new Texas-style grill, refreshed landscaping, & newly painted decks. The detached garage includes a new opener, less than a 4 year old roof, & a dedicated wall furnace--perfect for year-round use. Move-in ready. An Affidavit of Affixture has been recorded. Conventional or Cash offers only.

19. 2026-03-04
    status Active 825-char remark

    Show marketing remark (825 chars)

    Sellers have purchased a 1 year home warranty! Beautifully updated 3 bed, 2 full bath home in Gaylord with nearly every major upgrade completed in 2025! Enjoy peace of mind with a new furnace, central A/C, water heater, & well pump. All new PEX plumbing, fresh interior & exterior paint, new carpet, window trim, & closet doors throughout. The kitchen features newer appliances & modern finishes, while both bathrooms have updated vanities & fixtures. Outside, relax in the fenced backyard with a new Texas-style grill, refreshed landscaping, & newly painted decks. The detached garage includes a new opener, less than a 4 year old roof, & a dedicated wall furnace--perfect for year-round use. Move-in ready. An Affidavit of Affixture has been recorded. Conventional or Cash offers only.

20. 2026-03-04
    price $149,999 825-char remark

    Show marketing remark (825 chars)

    Sellers have purchased a 1 year home warranty! Beautifully updated 3 bed, 2 full bath home in Gaylord with nearly every major upgrade completed in 2025! Enjoy peace of mind with a new furnace, central A/C, water heater, & well pump. All new PEX plumbing, fresh interior & exterior paint, new carpet, window trim, & closet doors throughout. The kitchen features newer appliances & modern finishes, while both bathrooms have updated vanities & fixtures. Outside, relax in the fenced backyard with a new Texas-style grill, refreshed landscaping, & newly painted decks. The detached garage includes a new opener, less than a 4 year old roof, & a dedicated wall furnace--perfect for year-round use. Move-in ready. An Affidavit of Affixture has been recorded. Conventional or Cash offers only.

21. 2026-02-11
    historical 825-char remark

    Show marketing remark (825 chars)

    Sellers have purchased a 1 year home warranty! Beautifully updated 3 bed, 2 full bath home in Gaylord with nearly every major upgrade completed in 2025! Enjoy peace of mind with a new furnace, central A/C, water heater, & well pump. All new PEX plumbing, fresh interior & exterior paint, new carpet, window trim, & closet doors throughout. The kitchen features newer appliances & modern finishes, while both bathrooms have updated vanities & fixtures. Outside, relax in the fenced backyard with a new Texas-style grill, refreshed landscaping, & newly painted decks. The detached garage includes a new opener, less than a 4 year old roof, & a dedicated wall furnace--perfect for year-round use. Move-in ready. An Affidavit of Affixture has been recorded. Conventional or Cash offers only.

22. 2025-12-29
    price $154,900 825-char remark

    Show marketing remark (825 chars)

    Sellers have purchased a 1 year home warranty! Beautifully updated 3 bed, 2 full bath home in Gaylord with nearly every major upgrade completed in 2025! Enjoy peace of mind with a new furnace, central A/C, water heater, & well pump. All new PEX plumbing, fresh interior & exterior paint, new carpet, window trim, & closet doors throughout. The kitchen features newer appliances & modern finishes, while both bathrooms have updated vanities & fixtures. Outside, relax in the fenced backyard with a new Texas-style grill, refreshed landscaping, & newly painted decks. The detached garage includes a new opener, less than a 4 year old roof, & a dedicated wall furnace--perfect for year-round use. Move-in ready. An Affidavit of Affixture has been recorded. Conventional or Cash offers only.

23. 2025-11-19
    price $159,900 825-char remark

    Show marketing remark (825 chars)

    Sellers have purchased a 1 year home warranty! Beautifully updated 3 bed, 2 full bath home in Gaylord with nearly every major upgrade completed in 2025! Enjoy peace of mind with a new furnace, central A/C, water heater, & well pump. All new PEX plumbing, fresh interior & exterior paint, new carpet, window trim, & closet doors throughout. The kitchen features newer appliances & modern finishes, while both bathrooms have updated vanities & fixtures. Outside, relax in the fenced backyard with a new Texas-style grill, refreshed landscaping, & newly painted decks. The detached garage includes a new opener, less than a 4 year old roof, & a dedicated wall furnace--perfect for year-round use. Move-in ready. An Affidavit of Affixture has been recorded. Conventional or Cash offers only.

24. 2025-11-11
    price $164,900 825-char remark

    Show marketing remark (825 chars)

    Sellers have purchased a 1 year home warranty! Beautifully updated 3 bed, 2 full bath home in Gaylord with nearly every major upgrade completed in 2025! Enjoy peace of mind with a new furnace, central A/C, water heater, & well pump. All new PEX plumbing, fresh interior & exterior paint, new carpet, window trim, & closet doors throughout. The kitchen features newer appliances & modern finishes, while both bathrooms have updated vanities & fixtures. Outside, relax in the fenced backyard with a new Texas-style grill, refreshed landscaping, & newly painted decks. The detached garage includes a new opener, less than a 4 year old roof, & a dedicated wall furnace--perfect for year-round use. Move-in ready. An Affidavit of Affixture has been recorded. Conventional or Cash offers only.

25. 2025-10-29
    listed $169,900 Active 825-char remark

    Show marketing remark (825 chars)

    Sellers have purchased a 1 year home warranty! Beautifully updated 3 bed, 2 full bath home in Gaylord with nearly every major upgrade completed in 2025! Enjoy peace of mind with a new furnace, central A/C, water heater, & well pump. All new PEX plumbing, fresh interior & exterior paint, new carpet, window trim, & closet doors throughout. The kitchen features newer appliances & modern finishes, while both bathrooms have updated vanities & fixtures. Outside, relax in the fenced backyard with a new Texas-style grill, refreshed landscaping, & newly painted decks. The detached garage includes a new opener, less than a 4 year old roof, & a dedicated wall furnace--perfect for year-round use. Move-in ready. An Affidavit of Affixture has been recorded. Conventional or Cash offers only.

26. 2022-03-18
    soldstatus $68,000 200-char remark

    Show marketing remark (200 chars)

    3 bed, 2 bath older HUD fixed up and ready to go. Fresh paint, new carpet, laminate flooring and other upgrades. Sits on a concrete block foundation, paved drive and heated single car detached garage.

27. 2022-03-01
    listed $69,500 200-char remark

    Show marketing remark (200 chars)

    3 bed, 2 bath older HUD fixed up and ready to go. Fresh paint, new carpet, laminate flooring and other upgrades. Sits on a concrete block foundation, paved drive and heated single car detached garage.

28. 2021-05-28
    listed $45,000
29. 2019-10-08
    listed $41,000
30. 2005-10-20
    soldstatus $60,000

ⓘ 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: $1,778 · $148/mo
• Projected year-2 tax: $1,986 · $166/mo
• Expected delta: +$208/yr (+$17/mo · 11.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥93°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,046
• − Mortgage interest: −$7,982
• − Property taxes: −$1,778
• − Insurance: −$712
• − Repairs & maintenance: −$1,284
• − Management: −$1,284
• − Depreciation: −$4,145
• Taxable loss: −$1,140
• Est. tax savings @ 24.0%: +$274
• After-tax cash flow: $1,492/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: Gaylord Community Schools
• NCES district ID: 2615730
• Math proficiency: 43% ▼ -5.00%
• Reading proficiency: 53% ▼ -5.00%
• Median HH income: $48,682
• Composite: 40.97/100
• National rank: #3597
• State rank: #123 of 540 in MI

Livability — Otsego Lake

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

Census & demographics

• Population (ZIP): 20,678

Population outlook (Otsego County) Hauer SSP2

• Today (2025): 24,175 people
• By 2030: 23,836 · -1.4%
• By 2040: 22,718 · -6.0%
• By 2050: 21,411 · -11.4%
• By 2075: 18,864 · -22.0%
• By 2100: 15,011 · -37.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 12% Lithuanian 6% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Otsego

• 2024 margin: Solid R (+35.3) · D 31.6% · R 67.0% · Other 1.4%
• 2008→2024 swing: -26.5pp toward R · 2008: -8.9pp · 2024: -35.3pp
• All cycles: 2024: R+35.3 2020: R+34.1 2016: R+37.6 2012: R+19.7 2008: R+8.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -94.52%
• Current HPI: 245.8639
• 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

+137.5% since first listed

15 events — show timeline

• 2026-05-08 Price Changed $142,500 WWMLS
• 2026-03-23 Relisted — WWMLS
• 2026-03-11 Contingent — WWMLS
• 2026-03-04 Relisted — WWMLS
• 2026-03-04 Price Changed $149,999 WWMLS
• 2026-02-11 Delisted — WWMLS
• 2025-12-29 Price Changed $154,900 WWMLS
• 2025-11-19 Price Changed $159,900 WWMLS
• 2025-11-11 Price Changed $164,900 WWMLS
• 2025-10-29 Listed $169,900 WWMLS
• 2022-03-18 Sold (MLS) $68,000 WWMLS
• 2022-03-01 Listed $69,500 WWMLS
• 2021-05-28 Listed $45,000 WWMLS
• 2019-10-08 Listed $41,000 WWMLS
• 2005-10-20 Sold (Public Records) $60,000 Public Records

Property tax history

+12.4%/yr

Latest (2025): $1,778 · +17.3% YoY. Source: county tax records.