660 State St · Harbor Beach, MI 48441

$99,900

3 bd · 1.0 ba · 936 sqft · SingleFamily public records · 45 Days on market

Built 1920 4,792 sqft lot $107/sqft · at area comps Est $103k · at est. ↓ 38% since listing

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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 +23.5/30.0
• ARV discount +9.0/15.0
• DSCR +7.6/10.0
• 1% rule +4.8/10.0
• Livability +3.8/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 Bedroom, 1 1/2 bath, with 1 car detached garage, with attached 12 X 12 workshop. . Nice home located in Harbor Beach walking distance from Shopping, Schools, Hospital and the gorgeous sandy beach.

Key facts

• Attached workshop
• Detached garage
• 4,792 sq ft lot

Tags

• DETACHED GARAGE
• ATTACHED WORKSHOP
• WALKING DISTANCE FROM SHOPPING
• WALKING DISTANCE FROM SCHOOLS
• WALKING DISTANCE FROM HOSPITAL
• WALKING DISTANCE FROM BEACH

Property features AI

Finance

• Other: Residential property; Located between 5th and Whitcomb on State Street (south side of the street)

Exterior

• Parking: Detached garage; Driveway; One garage space
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Entry at ground level
• Construction: Asbestos construction materials; Block and brick/mortar foundation; Built above-grade finished area of 936 square feet
• Exterior features: Paved road access; Lot dimensions approximately 120 x 60 x 130 x 50

Interior

• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No central cooling listed
• Interior features: Unfinished basement; Six total rooms; Ground-level entry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $187 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $98k (2.3% below list).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#134 in MI, #3,278 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Harbor Beach Community Schools (rural): math 30% / reading 46% proficiency, ranked #246 of 540 in MI (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 22 active listings in the ZIP; 67 units permitted in Huron County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Huron County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $96,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 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 1920 — 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. 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.
5. 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.
6. 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: 0.98% ✗
• Cap rate: 8.53%
• Cash-on-cash: 8.00%
• DSCR: 1.36
• GRM: 8.5

CMA / ARV

• ARV (median comp): $103,356
• List price: $99,900
• Delta: -3.34%
• Verdict: FAIR
• Comps: 16 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
363 NELSON St	0.39mi	3/1.0	960 (+3%)	12mo	$166,000	$173	68
363 Nelson St	0.39mi	3/1.0	960 (+3%)	12mo	$166,000	$173	68
724 Lytle Ave	0.39mi	3/1.0	1,040 (+11%)	12mo	$142,000	$137	53
511 N Huron Ave	0.63mi	2/1.0 (-1)	820 (-12%)	10mo	$38,000	$46	36

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: -4.2%
• Equity multiple: 0.84×
• Total profit: $-4,357
• Equity at exit: $14,895

10-year hold

• IRR: 5.5%
• Equity multiple: 1.40×
• Total profit: $11,301
• Equity at exit: $8,638

Cash invested: $27,972 (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 48441

• Home prices YoY: -19.3%
• Active inventory: 22
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $976 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$19 /mo · $228/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $187

Break-even live

Break-even rent $740

Max offer price $99,900

Occupancy floor 76%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-18
   days on market $99,900 Active 45 DOM
2. 2026-06-17
   days on market $99,900 Active 44 DOM
3. 2026-06-16
   days on market $99,900 Active 43 DOM
4. 2026-06-15
   days on market $99,900 Active 42 DOM
5. 2026-06-13
   days on market $99,900 Active 40 DOM
6. 2026-06-12
   days on market $99,900 Active 39 DOM
7. 2026-06-09
   days on market $99,900 Active 36 DOM
8. 2026-06-08
   days on market $99,900 Active 35 DOM
9. 2026-06-07
   days on market $99,900 Active 34 DOM
10. 2026-06-07
    days on market $99,900 Active 33 DOM
11. 2026-06-04
    days on market $99,900 Active 30 DOM
12. 2026-06-02
    days on market $99,900 Active 29 DOM
13. 2026-06-01
    days on market $99,900 Active 28 DOM
14. 2026-05-31
    days on market $99,900 Active 27 DOM
15. 2026-05-31
    days on market $99,900 Active 26 DOM
16. 2026-05-03
    listed $99,900 Active 198-char remark

    Show marketing remark (198 chars)

    3 Bedroom, 1 1/2 bath, with 1 car detached garage, with attached 12 X 12 workshop. . Nice home located in Harbor Beach walking distance from Shopping, Schools, Hospital and the gorgeous sandy beach.

17. 2026-05-03
    listed $99,900 Active 198-char remark

    Show marketing remark (198 chars)

    3 Bedroom, 1 1/2 bath, with 1 car detached garage, with attached 12 X 12 workshop. . Nice home located in Harbor Beach walking distance from Shopping, Schools, Hospital and the gorgeous sandy beach.

18. 2026-01-04
    historical
19. 2025-12-03
    price $125,000
20. 2025-12-02
    price $125,000
21. 2025-10-13
    price $130,000
22. 2025-10-12
    price $130,000
23. 2025-09-23
    price $150,000
24. 2025-09-22
    price $150,000
25. 2025-08-26
    listed $159,900 Active
26. 2025-08-26
    listed $159,900 Active

ⓘ 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: $228 · $19/mo
• Projected year-2 tax: $883 · $74/mo
• Expected delta: +$655/yr (+$55/mo · 287.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥95°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,712
• − Mortgage interest: −$5,596
• − Property taxes: −$228
• − Insurance: −$500
• − Repairs & maintenance: −$937
• − Management: −$937
• − Depreciation: −$2,906
• Taxable income: $609
• Est. tax owed @ 24.0%: −$146
• After-tax cash flow: $2,093/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: Harbor Beach Community Schools
• NCES district ID: 2600007
• Math proficiency: 30% ▼ -14.00%
• Reading proficiency: 46% ▼ -11.00%
• Median HH income: $40,037
• Composite: 31.82/100
• National rank: #5879
• State rank: #246 of 540 in MI

Livability — Harbor Beach

• Score: 76/100
• State rank: #134
• US rank: #3278

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment F Housing A+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Harbor Beach, MI
• Population (ZIP): 3,867

Population outlook (Huron County) Hauer SSP2

• Today (2025): 29,325 people
• By 2030: 27,810 · -5.2%
• By 2040: 24,571 · -16.2%
• By 2050: 21,573 · -26.4%
• By 2075: 16,120 · -45.0%
• By 2100: 11,097 · -62.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Romanian 17% Lithuanian 3% Slovak 3%
• Foreign-born: 2%
• Languages at home: 97% English-only · Spanish 1%

Political lean MEDSL · Huron

• 2024 margin: Solid R (+40.6) · D 29.1% · R 69.7% · Other 1.2%
• 2008→2024 swing: -40.2pp toward R · 2008: -0.4pp · 2024: -40.6pp
• All cycles: 2024: R+40.6 2020: R+39.3 2016: R+38.2 2012: R+14.8 2008: R+0.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -60.03%
• Current HPI: 250.479
• 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

-37.5% since first listed

11 events — show timeline

• 2026-05-03 Listed $99,900 REALCOMP
• 2026-05-03 Listed $99,900 MiRealSource-MiMLS
• 2026-01-04 Listing Removed — MiRealSource-MiMLS
• 2025-12-03 Price Changed $125,000 MiRealSource-MiMLS
• 2025-12-02 Price Changed $125,000 REALCOMP
• 2025-10-13 Price Changed $130,000 MiRealSource-MiMLS
• 2025-10-12 Price Changed $130,000 REALCOMP
• 2025-09-23 Price Changed $150,000 MiRealSource-MiMLS
• 2025-09-22 Price Changed $150,000 REALCOMP
• 2025-08-26 Listed $159,900 REALCOMP
• 2025-08-26 Listed $159,900 MiRealSource-MiMLS

Property tax history

-10.1%/yr

Latest (2025): $228 · -71.9% YoY. Source: county tax records.