Real Estate Investing in Cadillac, Michigan (49601)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 49601 (Cadillac, MI)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 17.5% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Cadillac, MI (49601)?
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Market Analysis: 49601 Cadillac
ZIP 49601 in Cadillac, MI carries a healthy set of headwinds. Home values near $237K and rents of $945/mo sit inside a market where underwriting has to be tight.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $237K asset, 49601 is the wrong submarket. If the plan prices in friction, the yield can still work.
Within MI, ZIP 49601 trails on several market indicators that neighboring Wexford County submarkets outperform. The gap is real and sturdy enough to shape underwriting.
The 49601 ZIP's population of 22,121 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that shows the need for careful underwriting.
Distressed ZIPs reward experience. notable returns are possible in 49601, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Cadillac:
Property Strategy for 49601
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $180,005 | $1,050 | 4.2% | +10.9% | $90,003 |
| 3BR | $239,622 | $1,320 | 4.0% | +10.3% | $79,874 |
| 4BR | $305,231 | $1,530 | 3.6% | +10.4% | $76,308 |
| 5BR | $355,457 | — | — | +9.7% | $71,091 |
Market Trends
Home Value History (with trend line)
📊 How Does 49601 Compare?
| Metric | 49601 | Cadillac | Cadillac, MI | Michigan |
|---|---|---|---|---|
| Home Value | $237,200 | $237,200 | N/A | $253,279 |
| 5-Year CAGR | 6.2% | 6.2% | N/A | 6.8% |
| Avg Rent | $945 | $945 | N/A | - |
| Cap Rate | 3.1% | 3.1% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 49601 (Cadillac, MI). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $237,200 |
| Monthly Rent | $945 |
| Price-to-Rent | 20.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.8% |
| Cap Rate | 3.1% |
| 5-Year IRR | 9.3% |
📈 Home Appreciation
| 1-Year | +7.1% ▲ |
| 3-Year CAGR | +6.2% ▲ |
| 5-Year CAGR | +6.2% ▲ |
| 10-Year CAGR | +11.6% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.1%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 49601
Population: 22,121
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 49601
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
Where do rents currently stand in Cadillac, MI?
Rents in Cadillac, MI run near $945/mo. Compared with median home prices of $237K that produces solid gross yields for typical rentals.
How strong is tenant demand in Cadillac, MI?
Tenant demand in Cadillac, MI is solid. The local workforce $945/mo rents across most rental classes.
What is the typical home price in Cadillac, MI?
Cadillac, MI home values average about $237K. That price point suits investors targeting rentals with $945/mo in monthly income.
Does Cadillac, MI favor landlords or tenants?
MI ranks as a landlord-friendly state for landlord-tenant law. Cadillac generally follows the statewide framework, so landlords face reasonable operating rules.
Can owner-occupants cash flow in Cadillac, MI?
The a challenging house-hack environment in Cadillac, MI reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
You know 49601 now. You don’t know where it ranks.
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How 49601 ranks in Cadillac, MI
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