5293 Rose St · Gladwin, MI 48624

$119,900

2 bd · 1.0 ba · 950 sqft · SingleFamily · 89 Days on market

Built 1950 0.41 ac lot $126/sqft · 76% above area ↓ 8% since listing

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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
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cozy and completely updated cabin full of charm and character! This inviting 2-bedroom, 1-bath home offers comfortable living with modern updates while maintaining its rustic appeal. Situated on a spacious double lot, the property features a garage, shed, and additional storage room—perfect for hobbies, outdoor gear, or extra space. A great opportunity for a year-round home, weekend getaway, or investment property in Gladwin! Seller has also listed the cabin next door 5289 Rose St.

Key facts

• Updated cabin
• Garage
• Shed

Tags

• UPDATED CABIN
• SPACIOUS DOUBLE LOT
• GARAGE
• SHED
• ADDITIONAL STORAGE ROOM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $694 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $113k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.2% vs local median 7.7% in Gladwin — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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.
• Harrison Community Schools (town): math 17% / reading 28% proficiency, ranked #457 of 540 in MI (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Robert M Larson Elementary School (606 students, 85% FRL); Harrison Middle School (math 21% / reading 34%, grade F, #363 of 493 statewide, top 75%, 282 students, 81% FRL); Harrison Community High School (math 12% / reading 37%, grade F, #481 of 713 statewide, top 81%, 341 students, 73% FRL).
• Market conditions: 289 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 $829 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 $34k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $112,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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. 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?
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: 1.61% ✓
• Cap rate: 13.24%
• Cash-on-cash: 24.82%
• DSCR: 2.10
• GRM: 5.2

CMA / ARV

• ARV (median comp): $68,111
• List price: $119,900
• Delta: 76.04%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5293 Rose St	0.00mi	2/1.0	950 (0%)	1mo	$119,900	$126	99
5419 Pine St	0.46mi	2/1.0	935 (-2%)	0mo	$121,750	$130	76
5451 Morrow Ln	0.49mi	3/1.0 (+1)	965 (+2%)	14mo	$130,000	$135	58
5380 Pine St	0.34mi	2/1.0	858 (-10%)	12mo	$79,900	$93	58

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: 18.2%
• Equity multiple: 1.74×
• Total profit: $24,818
• Equity at exit: $17,877

10-year hold

• IRR: 26.7%
• Equity multiple: 3.34×
• Total profit: $78,667
• Equity at exit: $10,367

Cash invested: $33,572 (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: 289
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,928 medium
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,798/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $694

Break-even live

Break-even rent $1,049

Max offer price $119,900

Occupancy floor 59%

Sensitivity live

Price	-10% $777	-5% $736	+0% $694	+5% $653	+10% $611
Rent	-10% $542	-5% $618	+0% $694	+5% $770	+10% $847
Rate	-1.0pp $755	-0.5pp $725	base $694	+0.5pp $663	+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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-04-29
   price $119,900 492-char remark

   Show marketing remark (492 chars)

   Cozy and completely updated cabin full of charm and character! This inviting 2-bedroom, 1-bath home offers comfortable living with modern updates while maintaining its rustic appeal. Situated on a spacious double lot, the property features a garage, shed, and additional storage room—perfect for hobbies, outdoor gear, or extra space. A great opportunity for a year-round home, weekend getaway, or investment property in Gladwin! Seller has also listed the cabin next door 5289 Rose St.

2. 2026-04-28
   price $119,900 486-char remark

   Show marketing remark (486 chars)

   Cozy and completely updated cabin full of charm and character! This inviting 2-bedroom, 1-bath home offers comfortable living with modern updates while maintaining its rustic appeal. Situated on a spacious double lot, the property features a garage, shed, and additional storage room-perfect for hobbies, outdoor gear, or extra space. A great opportunity for a year-round home, weekend getaway, or investment property in Gladwin! Seller has also listed the cabin next door 5289 Rose St.

3. 2026-02-26
   listed $129,900 Active 492-char remark

   Show marketing remark (486 chars)

   Cozy and completely updated cabin full of charm and character! This inviting 2-bedroom, 1-bath home offers comfortable living with modern updates while maintaining its rustic appeal. Situated on a spacious double lot, the property features a garage, shed, and additional storage room-perfect for hobbies, outdoor gear, or extra space. A great opportunity for a year-round home, weekend getaway, or investment property in Gladwin! Seller has also listed the cabin next door 5289 Rose St.

4. 2026-02-26
   listed $129,900 Active 486-char remark

   Show marketing remark (486 chars)

   Cozy and completely updated cabin full of charm and character! This inviting 2-bedroom, 1-bath home offers comfortable living with modern updates while maintaining its rustic appeal. Situated on a spacious double lot, the property features a garage, shed, and additional storage room-perfect for hobbies, outdoor gear, or extra space. A great opportunity for a year-round home, weekend getaway, or investment property in Gladwin! Seller has also listed the cabin next door 5289 Rose St.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥94°F today · 13 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: $23,132
• − Mortgage interest: −$6,716
• − Property taxes: −$1,798
• − Insurance: −$600
• − Repairs & maintenance: −$1,851
• − Management: −$1,851
• − Depreciation: −$3,488
• Taxable income: $6,829
• Est. tax owed @ 24.0%: −$1,639
• After-tax cash flow: $6,692/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: Harrison Community Schools
• NCES district ID: 2617820
• Math proficiency: 17% ▬ 0.00%
• Reading proficiency: 28% ▼ -5.00%
• Median HH income: $30,377
• Composite: 18.07/100
• National rank: #8977
• State rank: #457 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

• 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

-7.7% since first listed

4 events — show timeline

• 2026-04-29 Price Changed $119,900 MiRealSource-MiMLS
• 2026-04-28 Price Changed $119,900 REALCOMP
• 2026-02-26 Listed $129,900 REALCOMP
• 2026-02-26 Listed $129,900 MiRealSource-MiMLS

Property tax history

-7.9%/yr

Latest (2025): $133 · -79.7% YoY. Source: county tax records.