Real Estate Investing in Pellston, Michigan (49769)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 49769 (Pellston, 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: 26.9% 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 Pellston, MI (49769)?
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Market Analysis: 49769 Pellston
The 49769 ZIP covers a section of Pellston that demands careful diligence. Prices near $248K look accessible, but the work to make a deal cash flow is real.
Distressed markets are won on execution, not on spreadsheets. ZIP 49769 reports the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Nearby ZIPs in Pellston have seen price recovery that 49769 has not matched. Emmet County data supports the view that the spread is structural rather than temporary.
The 49769 ZIP's population of 1,791 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. robust returns are possible in 49769, 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 Pellston:
Market Trends
Home Value History (with trend line)
📊 How Does 49769 Compare?
| Metric | 49769 | Pellston | Michigan |
|---|---|---|---|
| Home Value | $248,166 | $248,166 | $253,279 |
| 5-Year CAGR | 4.6% | 4.6% | 6.8% |
| Avg Rent | $1,089 | $1,089 | - |
| Cap Rate | 3.4% | 3.4% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 49769 (Pellston, MI). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $248,166 |
| Monthly Rent | $1,089 |
| Price-to-Rent | 19.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.3% |
| Cap Rate | 3.4% |
| 5-Year IRR | 8.0% |
📈 Home Appreciation
| 1-Year | +8.7% ▲ |
| 3-Year CAGR | +4.8% ▲ |
| 5-Year CAGR | +4.6% ▲ |
| 10-Year CAGR | +7.1% ▲ |
🏠 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 (3.4%). 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 49769
Population: 1,791
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 49769
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.
Frequently Asked Questions
How strong are rents in Pellston, MI?
The typical rental in Pellston, MI commands about $1,089/mo monthly. That rent profile consistent cash flow against the $248K purchase basis.
Which investment style suits Pellston, MI?
A careful cash-flow rentals with hands-on management strategy Pellston, MI best. The market produces stable results for that approach at the $248K price point.
How much does a house cost in Pellston, MI?
In Pellston, MI the median home value sits at $248K. Against the broader MI market, that reads as reasonable for most investors.
Can owner-occupants cash flow in Pellston, MI?
Pellston, MI is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $248K price point reasonable to enter.
How strong is tenant demand in Pellston, MI?
Working renters make up the core of the Pellston, MI tenant base. The pool is reasonable for investors targeting long-term holds.
You know 49769 now. You don’t know where it ranks.
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