1859 N Pratt Lake Rd · Sage, MI 48624

$120,000

2 bd · 2.0 ba · 1,059 sqft · SingleFamily · 4 Days on market

Est $142k · 15% under

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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
• ARV discount +14.4/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

PRETTY ON PRATT LAKE RD! This 980 sqft foot 2 bed, 2 bath home has such a gorgeous view of Pratt Lake right across the street! Built in 1995 this home is set in a quite neighborhood and enjoys lake access. The kitchen is open and roomy with an island built in as well. The bedrooms are split up with one on each end. Call today for your private showing!

Key facts

• Listed 4 days

Property features AI

Exterior

• Utilities: Well water; Septic tank sewer
• Home design: Residential single-family home; One-story (above-grade finished area listed)
• Construction: Pillar/post/pier foundation
• Exterior features: Dirt road access; Lot in the Parkside subdivision

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Natural gas heating; Central heating
• Interior features: Main-level laundry
• Laundry & utility: Laundry located on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $889 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).

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 $830 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 ~4 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y 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 $66k; list at $120k implies a 83% gain — meaningful room to come down on a strong offer.

Recommended offer $120,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.73% ✓
• Cap rate: 15.18%
• Cash-on-cash: 31.75%
• DSCR: 2.41
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $141,906
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1870 N Pratt Lake Rd	0.15mi	2/1.5	924 (-13%)	16mo	$124,000	$134	56
1695 Opland Rd	0.41mi	2/1.0	981 (-7%)	12mo	$155,896	$159	54
1817 N Pratt Lake Rd Rd	0.05mi	3/1.0 (+1)	932 (-12%)	20mo	$103,500	$111	52
1524 E Lake Point Dr	0.72mi	3/2.0 (+1)	1,139 (+8%)	13mo	$215,000	$189	38
1555 Opland Rd	0.73mi	3/2.0 (+1)	938 (-11%)	9mo	$40,000	$43	34

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: 26.7%
• Equity multiple: 2.11×
• Total profit: $37,168
• Equity at exit: $17,892

10-year hold

• IRR: 34.3%
• Equity multiple: 4.13×
• Total profit: $105,221
• Equity at exit: $10,375

Cash invested: $33,600 (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: 4.8×

Monthly cashflow live

• Estimated rent: $2,080 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$75 /mo · $894/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $889

Break-even live

Break-even rent $954

Max offer price $120,000

Occupancy floor 52%

Sensitivity live

Price	-10% $957	-5% $923	+0% $889	+5% $855	+10% $821
Rent	-10% $725	-5% $807	+0% $889	+5% $971	+10% $1,053
Rate	-1.0pp $950	-0.5pp $920	base $889	+0.5pp $858	+1.0pp $826

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-21
   days on market $120,000 Active 4 DOM
2. 2026-06-18
   days on market $120,000 Active 2 DOM
3. 2026-06-17
   listed $120,000 Active 1 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: $894 · $75/mo
• Projected year-2 tax: $1,371 · $114/mo
• Expected delta: +$477/yr (+$40/mo · 53.3%)

ⓘ 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 ≥95°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: $24,956
• − Mortgage interest: −$6,722
• − Property taxes: −$894
• − Insurance: −$600
• − Repairs & maintenance: −$1,996
• − Management: −$1,996
• − Depreciation: −$3,491
• Taxable income: $9,256
• Est. tax owed @ 24.0%: −$2,221
• After-tax cash flow: $8,448/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 — Sage

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

+414.3% since first listed

7 events — show timeline

• 2026-06-16 Listed $120,000 WWMLS
• 2023-10-05 Sold (Public Records) $65,500 Public Records
• 2023-10-05 Sold (MLS) $65,500 REALCOMP
• 2023-08-20 Pending — REALCOMP
• 2023-08-15 Listed $70,000 REALCOMP
• 2022-04-12 Sold (Public Records) $50,000 Public Records
• 2007-08-21 Sold (Public Records) $23,333 Public Records

Property tax history

+4.9%/yr

Latest (2025): $894 · -39.9% YoY. Source: county tax records.