5678 N Crossover Dr Unit 2 · Kearney, MI 49615

$1,500

2 bd · 2.0 ba · 1,026 sqft · Condo · 851 Days on market

Built 2002 $1/sqft · 99% below area $450/mo HOA · 48% of rent ↓ 25% since listing

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.3/10.0
• 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

2 large bedrooms, 2 full baths, sleeper couch, washer & dryer in condo. Beautiful views of golf course, lake and surrounding nature from inside and outside of this end unit condo. 4 terrific weeks, 2 platinum, 1 gold and 1 silver (weeks 20, 35, 36 and 52). Gives you Labor Day week. Rents Friday to Friday. One of the better packages of weeks available. Fully furnished and accessorized. Just bring you to enjoy outdoor pool & access to public beach.

Key facts

• $450 HOA
• Built 2002
• Listed 851 days

🏷️ Possibly a rental listed for sale. The $1,500 price doesn't fit this home's estimated sale value (~$256,517) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $2k.

Deal economics

• At list price, monthly cash flow is $288 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($947 rent vs $2k).
• Recommended offer: $1k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Bellaire Public Schools (rural): math 40% / reading 55% proficiency, ranked #217 of 760 in MI (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 207 active listings in the ZIP; 101 units permitted in Antrim County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $10 of loan paydown is wiped out by about $45 of value loss. Plan a longer hold.
• Antrim County population projected at -27% 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 $420 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 851 days — a 12% lower offer ($1k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $500 (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 48% of rent.

Recommended offer $1,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 851 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 63.12% ✓
• Cap rate: 236.34%
• Cash-on-cash: 821.60%
• DSCR: 37.56
• GRM: 0.1

CMA / ARV

• ARV (median comp): $256,517
• List price: $1,500
• Delta: -99.42%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 44.72×
• Total profit: $18,363
• Equity at exit: $224

10-year hold

• IRR: —
• Equity multiple: 98.03×
• Total profit: $40,754
• Equity at exit: $130

Cash invested: $420 (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 49615

• Home prices YoY: -16.5%
• Active inventory: 207
• Price-to-rent: 0.1×

Monthly cashflow live

• Estimated rent: $947 medium
• Mortgage (P&I): −$8
• Tax est. 1.5%: −$2 /mo · $22/yr
• Insurance: −$1
• HOA: −$450
• Vacancy / Maint / Mgmt: −$199
• Net cashflow: $288

Break-even live

Break-even rent $583

Max offer price $1,500

Occupancy floor 65%

Sensitivity live

Price	-10% $289	-5% $288	+0% $288	+5% $287	+10% $287
Rent	-10% $213	-5% $250	+0% $288	+5% $325	+10% $362
Rate	-1.0pp $288	-0.5pp $288	base $288	+0.5pp $287	+1.0pp $287

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: $375
• Closing costs: $45
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $450 · $5,400/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-21
   days on market $1,500 Active 851 DOM
2. 2026-06-18
   days on market $1,500 Active 849 DOM
3. 2026-06-17
   days on market $1,500 Active 848 DOM
4. 2026-06-16
   days on market $1,500 Active 847 DOM
5. 2026-06-15
   days on market $1,500 Active 846 DOM
6. 2026-06-13
   days on market $1,500 Active 844 DOM
7. 2026-06-12
   days on market $1,500 Active 843 DOM
8. 2026-06-09
   days on market $1,500 Active 840 DOM
9. 2026-06-08
   days on market $1,500 Active 839 DOM
10. 2026-06-07
    days on market $1,500 Active 838 DOM
11. 2026-06-07
    days on market $1,500 Active 837 DOM
12. 2026-06-04
    days on market $1,500 Active 834 DOM
13. 2026-06-02
    days on market $1,500 Active 833 DOM
14. 2026-06-01
    days on market $1,500 Active 832 DOM
15. 2026-05-31
    days on market $1,500 Active 831 DOM
16. 2026-05-31
    days on market $1,500 Active 830 DOM
17. 2024-06-23
    price $1,500 462-char remark

    Show marketing remark (462 chars)

    2 large bedrooms, 2 full baths, sleeper couch, washer & dryer in condo. Beautiful views of golf course, lake and surrounding nature from inside and outside of this end unit condo. 4 terrific weeks, 2 platinum, 1 gold and 1 silver (weeks 20, 35, 36 and 52). Gives you Labor Day week. Rents Friday to Friday. One of the better packages of weeks available. Fully furnished and accessorized. Just bring you to enjoy outdoor pool & access to public beach.

18. 2024-06-23
    price $1,500 462-char remark

    Show marketing remark (462 chars)

    2 large bedrooms, 2 full baths, sleeper couch, washer & dryer in condo. Beautiful views of golf course, lake and surrounding nature from inside and outside of this end unit condo. 4 terrific weeks, 2 platinum, 1 gold and 1 silver (weeks 20, 35, 36 and 52). Gives you Labor Day week. Rents Friday to Friday. One of the better packages of weeks available. Fully furnished and accessorized. Just bring you to enjoy outdoor pool & access to public beach.

19. 2024-02-20
    listed $2,000 Active 462-char remark

    Show marketing remark (462 chars)

    2 large bedrooms, 2 full baths, sleeper couch, washer & dryer in condo. Beautiful views of golf course, lake and surrounding nature from inside and outside of this end unit condo. 4 terrific weeks, 2 platinum, 1 gold and 1 silver (weeks 20, 35, 36 and 52). Gives you Labor Day week. Rents Friday to Friday. One of the better packages of weeks available. Fully furnished and accessorized. Just bring you to enjoy outdoor pool & access to public beach.

20. 2024-02-20
    listed $2,000 Active 462-char remark

    Show marketing remark (462 chars)

    2 large bedrooms, 2 full baths, sleeper couch, washer & dryer in condo. Beautiful views of golf course, lake and surrounding nature from inside and outside of this end unit condo. 4 terrific weeks, 2 platinum, 1 gold and 1 silver (weeks 20, 35, 36 and 52). Gives you Labor Day week. Rents Friday to Friday. One of the better packages of weeks available. Fully furnished and accessorized. Just bring you to enjoy outdoor pool & access to public beach.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥94°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,361
• − Mortgage interest: −$84
• − Property taxes: −$22
• − Insurance: −$8
• − Repairs & maintenance: −$909
• − Management: −$909
• − HOA: −$5,400
• − Depreciation: −$44
• Taxable income: $3,985
• Est. tax owed @ 24.0%: −$957
• After-tax cash flow: $2,494/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: Bellaire Public Schools
• NCES district ID: 2604620
• Math proficiency: 40% ▲ 10.00%
• Reading proficiency: 55% ▲ 20.00%
• Median HH income: $48,597
• Composite: 42.67/100
• National rank: #6796
• State rank: #217 of 760 in MI

Livability — Kearney

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 4,077

Population outlook (Antrim County) Hauer SSP2

• Today (2025): 21,804 people
• By 2030: 20,814 · -4.5%
• By 2040: 18,394 · -15.6%
• By 2050: 15,981 · -26.7%
• By 2075: 11,712 · -46.3%
• By 2100: 7,651 · -64.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 10% Iranian 6% Slovak 3%
• Foreign-born: 1% · Canada, South Korea
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Antrim

• 2024 margin: Strong R (+23.8) · D 37.5% · R 61.2% · Other 1.2%
• 2008→2024 swing: -13.4pp toward R · 2008: -10.3pp · 2024: -23.8pp
• All cycles: 2024: R+23.8 2020: R+23.8 2016: R+29.6 2012: R+21.3 2008: R+10.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -60.89%
• Current HPI: 309.0343
• 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

-25.0% since first listed

4 events — show timeline

• 2024-06-23 Price Changed $1,500 MiRealSource-MiMLS
• 2024-06-23 Price Changed $1,500 REALCOMP
• 2024-02-20 Listed $2,000 MiRealSource-MiMLS
• 2024-02-20 Listed $2,000 REALCOMP