601 N Arcade St · Gladwin, MI 48624

$175,000

3 bd · 1.0 ba · 1,647 sqft · SingleFamily · 36 Days on market

Built 1826 8,712 sqft lot $106/sqft · 29% above area Est $135k · 29% over

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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 +27.7/30.0
• DSCR +9.7/10.0
• 1% rule +7.0/10.0
• Livability +3.6/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully maintained 3-bedroom, 1-bath farmhouse ideally situated on a spacious . 20-acre corner lot, complete with a 2-car pole barn garage featuring a full loft above—perfect for additional storage, a workshop, or hobby space. This inviting home blends timeless character with thoughtful updates and functional living spaces throughout. Upon entry, you’re welcomed by a practical mudroom and convenient first-floor laundry located just off the kitchen. The well-appointed kitchen offers an abundance of cabinetry along with an impressive 7x9 walk-in pantry, providing exceptional storage and organization. Just beyond, the formal dining room showcases a stunning floor-to-ceiling built-in china cabinet, adding warmth and classic farmhouse charm. The oversized living room is filled with natural light from expansive windows, creating a bright and welcoming atmosphere ideal for both everyday living and entertaining. The main floor also features a spacious bedroom and full bathroom for added convenience. Upstairs, an expansive loft area leads to two additional bedrooms, including a walk-in closet offering generous storage space. Recent improvements include a newer roof, vinyl siding, windows, interior and exterior doors, fresh paint, laminate flooring, electric water heater, forced-air furnace with central air, updated landscaping, and more—providing peace of mind for years to come. Outdoors, enjoy the large yard complete with raised garden beds and plenty of room to relax, garden, or entertain.

Key facts

• Full loft above
• Expansive windows
• First floor laundry

Tags

• 2 CAR POLE BARN GARAGE
• FULL LOFT ABOVE
• MUDROOM
• FIRST FLOOR LAUNDRY
• 7X9 WALK-IN PANTRY
• EXPANSIVE WINDOWS

Property features AI

Finance

• Other: Lot dimensions approximately 66 x 132 x 66 x 132; Lot size about 0.2 acres; Zoned residential

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Shared septic
• Home design: Single-family residence; Residential property; Vinyl siding
• Construction: Vinyl siding construction
• Exterior features: Front porch; Cleared lot

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Ceiling fans; Forced-air heating; Natural gas heating
• Interior features: Pantry; Electric water heater; Has basement; 9 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $526 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $170k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 7.7% in Gladwin — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 $5k 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 $49k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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 $114k; list at $175k implies a 54% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1826 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $169,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1826 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.20% ✓
• Cap rate: 9.90%
• Cash-on-cash: 12.87%
• DSCR: 1.57
• GRM: 6.9

CMA / ARV

• ARV (median comp): $135,211
• List price: $175,000
• Delta: 29.43%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
136 W 1st St	0.17mi	3/1.5	1,687 (+2%)	12mo	$136,000	$81	76
715 N Silverleaf St	0.15mi	4/2.0 (+1)	1,665 (+1%)	19mo	$78,000	$47	67
715 N Silverleaf St	0.15mi	4/2.0 (+1)	1,665 (+1%)	19mo	$78,000	$47	67
240 Lumm St	0.57mi	3/1.0	1,714 (+4%)	6mo	$123,700	$72	61
921 N Antler St	0.19mi	3/1.5	1,499 (-9%)	16mo	$175,000	$117	61
405 Parkway Ct	0.70mi	3/1.0	1,584 (-4%)	3mo	$170,000	$107	59
441 W Beech St	0.25mi	3/1.0	1,501 (-9%)	20mo	$150,000	$100	57
507 Deer ST W Deer Ave	0.16mi	4/1.0 (+1)	1,440 (-13%)	13mo	$100,000	$69	56
901 N State St	0.22mi	4/1.0 (+1)	1,404 (-15%)	11mo	$60,000	$43	51
904 W Deer St	0.37mi	3/1.5	1,420 (-14%)	14mo	$184,777	$130	46
300 E Grout St	0.50mi	3/2.0	1,422 (-14%)	9mo	$160,000	$113	42
2153 N M-30 Hwy	0.73mi	4/2.5 (+1)	1,590 (-4%)	19mo	$365,000	$230	33

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: 2.7%
• Equity multiple: 1.10×
• Total profit: $5,109
• Equity at exit: $26,093

10-year hold

• IRR: 12.3%
• Equity multiple: 1.97×
• Total profit: $47,503
• Equity at exit: $15,131

Cash invested: $49,000 (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: 287
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,101 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$144 /mo · $1,724/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $526

Break-even live

Break-even rent $1,436

Max offer price $175,000

Occupancy floor 70%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $175,000 Active 36 DOM
2. 2026-06-17
   days on market $175,000 Active 35 DOM
3. 2026-06-16
   days on market $175,000 Active 34 DOM
4. 2026-06-15
   days on market $175,000 Active 33 DOM
5. 2026-06-13
   days on market $175,000 Active 31 DOM
6. 2026-06-12
   pricedays on market $175,000 Active 30 DOM

   Show marketing remark (1568 chars)

   Beautifully maintained 3-bedroom, 1-bath farmhouse ideally situated on a spacious . 20-acre corner lot, complete with a 2-car pole barn garage featuring a full loft above—perfect for additional storage, a workshop, or hobby space. This inviting home blends timeless character with thoughtful updates and functional living spaces throughout. Upon entry, you’re welcomed by a practical mudroom and convenient first-floor laundry located just off the kitchen. The well-appointed kitchen offers an abundance of cabinetry along with an impressive 7x9 walk-in pantry, providing exceptional storage and organization. Just beyond, the formal dining room showcases a stunning floor-to-ceiling built-in china cabinet, adding warmth and classic farmhouse charm. The oversized living room is filled with natural light from expansive windows, creating a bright and welcoming atmosphere ideal for both everyday living and entertaining. The main floor also features a spacious bedroom and full bathroom for added convenience. Upstairs, an expansive loft area leads to two additional bedrooms, including a walk-in closet offering generous storage space. Recent improvements include a newer roof, vinyl siding, windows, interior and exterior doors, fresh paint, laminate flooring, electric water heater, forced-air furnace with central air, updated landscaping, and more—providing peace of mind for years to come. Outdoors, enjoy the large yard complete with raised garden beds and plenty of room to relax, garden, or entertain.

7. 2026-06-09
   days on market $179,900 Active 27 DOM
8. 2026-06-08
   days on market $179,900 Active 26 DOM
9. 2026-06-07
   days on market $179,900 Active 25 DOM
10. 2026-06-07
    days on market $179,900 Active 24 DOM
11. 2026-06-04
    days on market $179,900 Active 21 DOM
12. 2026-06-02
    days on market $179,900 Active 20 DOM
13. 2026-06-01
    days on market $179,900 Active 19 DOM
14. 2026-05-31
    days on market $179,900 Active 18 DOM
15. 2026-05-31
    days on market $179,900 Active 17 DOM
16. 2026-05-11
    listed $179,900 Active 1512-char remark

    Show marketing remark (1568 chars)

    Beautifully maintained 3-bedroom, 1-bath farmhouse ideally situated on a spacious . 20-acre corner lot, complete with a 2-car pole barn garage featuring a full loft above—perfect for additional storage, a workshop, or hobby space. This inviting home blends timeless character with thoughtful updates and functional living spaces throughout. Upon entry, you’re welcomed by a practical mudroom and convenient first-floor laundry located just off the kitchen. The well-appointed kitchen offers an abundance of cabinetry along with an impressive 7x9 walk-in pantry, providing exceptional storage and organization. Just beyond, the formal dining room showcases a stunning floor-to-ceiling built-in china cabinet, adding warmth and classic farmhouse charm. The oversized living room is filled with natural light from expansive windows, creating a bright and welcoming atmosphere ideal for both everyday living and entertaining. The main floor also features a spacious bedroom and full bathroom for added convenience. Upstairs, an expansive loft area leads to two additional bedrooms, including a walk-in closet offering generous storage space. Recent improvements include a newer roof, vinyl siding, windows, interior and exterior doors, fresh paint, laminate flooring, electric water heater, forced-air furnace with central air, updated landscaping, and more—providing peace of mind for years to come. Outdoors, enjoy the large yard complete with raised garden beds and plenty of room to relax, garden, or entertain.

17. 2026-05-11
    listed $179,900 Active 1568-char remark

    Show marketing remark (1568 chars)

    Beautifully maintained 3-bedroom, 1-bath farmhouse ideally situated on a spacious . 20-acre corner lot, complete with a 2-car pole barn garage featuring a full loft above—perfect for additional storage, a workshop, or hobby space. This inviting home blends timeless character with thoughtful updates and functional living spaces throughout. Upon entry, you’re welcomed by a practical mudroom and convenient first-floor laundry located just off the kitchen. The well-appointed kitchen offers an abundance of cabinetry along with an impressive 7x9 walk-in pantry, providing exceptional storage and organization. Just beyond, the formal dining room showcases a stunning floor-to-ceiling built-in china cabinet, adding warmth and classic farmhouse charm. The oversized living room is filled with natural light from expansive windows, creating a bright and welcoming atmosphere ideal for both everyday living and entertaining. The main floor also features a spacious bedroom and full bathroom for added convenience. Upstairs, an expansive loft area leads to two additional bedrooms, including a walk-in closet offering generous storage space. Recent improvements include a newer roof, vinyl siding, windows, interior and exterior doors, fresh paint, laminate flooring, electric water heater, forced-air furnace with central air, updated landscaping, and more—providing peace of mind for years to come. Outdoors, enjoy the large yard complete with raised garden beds and plenty of room to relax, garden, or entertain.

18. 2024-08-07
    soldstatus $114,000
19. 2024-07-31
    soldstatus $114,000 Sold

    Show marketing remark (856 chars)

    Welcome to this charming move-in ready home in downtown Gladwin, nestled on a corner lot, this well-maintained residence boasts convenience and comfort. Enjoy the ease of nearby shopping, Restaurants, and schools, making daily errands a breeze. Home has a newer roof and windows. Step inside to discover a cozy interior featuring two covered porches, perfect for relaxing evenings or morning coffee. The spacious layout is ideal for those seeking extra space. Outside, a large garage provides ample storage for vehicles and hobbies alike. Whether you're enjoying the charm of the porches or the practicality of the garage, this home offers something for everyone. Don't miss out on this opportunity to own a piece of Gladwin's downtown charm with modern conveniences. Schedule your showing today and envision yourself calling this delightful property home!

20. 2024-07-31
    soldstatus $114,000 Closed

    Show marketing remark (856 chars)

    Welcome to this charming move-in ready home in downtown Gladwin, nestled on a corner lot, this well-maintained residence boasts convenience and comfort. Enjoy the ease of nearby shopping, Restaurants, and schools, making daily errands a breeze. Home has a newer roof and windows. Step inside to discover a cozy interior featuring two covered porches, perfect for relaxing evenings or morning coffee. The spacious layout is ideal for those seeking extra space. Outside, a large garage provides ample storage for vehicles and hobbies alike. Whether you're enjoying the charm of the porches or the practicality of the garage, this home offers something for everyone. Don't miss out on this opportunity to own a piece of Gladwin's downtown charm with modern conveniences. Schedule your showing today and envision yourself calling this delightful property home!

21. 2024-06-26
    status Pending

    Show marketing remark (856 chars)

    Welcome to this charming move-in ready home in downtown Gladwin, nestled on a corner lot, this well-maintained residence boasts convenience and comfort. Enjoy the ease of nearby shopping, Restaurants, and schools, making daily errands a breeze. Home has a newer roof and windows. Step inside to discover a cozy interior featuring two covered porches, perfect for relaxing evenings or morning coffee. The spacious layout is ideal for those seeking extra space. Outside, a large garage provides ample storage for vehicles and hobbies alike. Whether you're enjoying the charm of the porches or the practicality of the garage, this home offers something for everyone. Don't miss out on this opportunity to own a piece of Gladwin's downtown charm with modern conveniences. Schedule your showing today and envision yourself calling this delightful property home!

22. 2024-06-25
    status Pending
23. 2024-06-24
    listed $114,000
24. 2024-06-21
    listed $112,000 Active

    Show marketing remark (856 chars)

    Welcome to this charming move-in ready home in downtown Gladwin, nestled on a corner lot, this well-maintained residence boasts convenience and comfort. Enjoy the ease of nearby shopping, Restaurants, and schools, making daily errands a breeze. Home has a newer roof and windows. Step inside to discover a cozy interior featuring two covered porches, perfect for relaxing evenings or morning coffee. The spacious layout is ideal for those seeking extra space. Outside, a large garage provides ample storage for vehicles and hobbies alike. Whether you're enjoying the charm of the porches or the practicality of the garage, this home offers something for everyone. Don't miss out on this opportunity to own a piece of Gladwin's downtown charm with modern conveniences. Schedule your showing today and envision yourself calling this delightful property home!

25. 2024-06-21
    listed $112,000 Active

    Show marketing remark (856 chars)

    Welcome to this charming move-in ready home in downtown Gladwin, nestled on a corner lot, this well-maintained residence boasts convenience and comfort. Enjoy the ease of nearby shopping, Restaurants, and schools, making daily errands a breeze. Home has a newer roof and windows. Step inside to discover a cozy interior featuring two covered porches, perfect for relaxing evenings or morning coffee. The spacious layout is ideal for those seeking extra space. Outside, a large garage provides ample storage for vehicles and hobbies alike. Whether you're enjoying the charm of the porches or the practicality of the garage, this home offers something for everyone. Don't miss out on this opportunity to own a piece of Gladwin's downtown charm with modern conveniences. Schedule your showing today and envision yourself calling this delightful property home!

ⓘ 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: $1,724 · $144/mo
• Projected year-2 tax: $2,210 · $184/mo
• Expected delta: +$485/yr (+$40/mo · 28.1%)

ⓘ 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 4/10 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: $25,216
• − Mortgage interest: −$9,803
• − Property taxes: −$1,724
• − Insurance: −$875
• − Repairs & maintenance: −$2,017
• − Management: −$2,017
• − Depreciation: −$5,091
• Taxable income: $3,688
• Est. tax owed @ 24.0%: −$885
• After-tax cash flow: $5,423/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

+56.2% since first listed

12 events — show timeline

• 2026-06-12 Price Changed $175,000 MiRealSource-MiMLS
• 2026-06-11 Price Changed $175,000 REALCOMP
• 2026-05-11 Listed $179,900 REALCOMP
• 2026-05-11 Listed $179,900 MiRealSource-MiMLS
• 2024-08-07 Sold (Public Records) $114,000 Public Records
• 2024-07-31 Sold (MLS) $114,000 MiRealSource-MiMLS
• 2024-07-31 Sold (MLS) $114,000 REALCOMP
• 2024-06-26 Pending — REALCOMP
• 2024-06-25 Pending — MiRealSource-MiMLS
• 2024-06-24 Listed $114,000 REALCOMP
• 2024-06-21 Listed $112,000 MiRealSource-MiMLS
• 2024-06-21 Listed $112,000 REALCOMP

Property tax history

+4.7%/yr

Latest (2025): $1,724 · +31.8% YoY. Source: county tax records.