2898 Lakeshore Dr · Secord, MI 48624

$110,000

3 bd · 1.5 ba · 827 sqft · SingleFamily · 26 Days on market

Built 1950 0.51 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Welcome to your Up North escape near beautiful Secord Lake. This charming 3 bedroom, 1.5 bath home sits directly across the street from the lake and offers relaxing water views, peaceful surroundings, and easy access to some of Mid-Michigan’s best outdoor recreation. Start your mornings in the inviting screened-in sunroom with a cup of coffee while enjoying views of the lake area and the quiet Northern Michigan setting. The spacious yard provides room to relax, entertain, gather around a firepit, or simply enjoy the outdoors. Inside, the home features warm knotty pine finishes that create a classic cottage feel with plenty of character and comfort. The large living area offers a cozy

Key facts

• Spacious yard
• Secord lake views
• Newer flooring

Tags

• SECORD LAKE VIEWS
• SCREENED-IN SUNROOM
• SPACIOUS YARD
• KNOTTY PINE FINISHES
• UPDATED KITCHEN
• NEWER FLOORING

Property features AI

Exterior

• Parking: Drive access
• Utilities: Private well water; Septic sewer; Electric heat fuel
• Home design: Residential single-story home; Built in 1950; Facing road frontage
• Construction: Vinyl siding exterior; Crawl foundation
• Exterior features: Porch; Lake view; All-sports lake access and water view (Secord Lake); Paved street frontage

Interior

• Kitchen: Wood flooring in kitchen; Microwave; Range/Oven; Refrigerator
• Bedrooms: Bedroom 1 (Main) — 12 x 9, laminate flooring; Bedroom 2 (Main) — 11 x 9, laminate flooring; Bedroom 3 (Main) — width 5, laminate flooring
• Flooring: Hardwood in some areas; Laminate in bedrooms, bathroom and laundry; Carpet in living room; Wood flooring in kitchen
• Bathrooms: One full bathroom (Main) — approximately 8 x 5, laminate flooring; Two total lavatories
• Heating & cooling: Wall heat; Wall/window air conditioning
• Interior features: Hardwood floors
• Laundry & utility: Laundry room (Main) — 6 x 4, laminate flooring

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $855 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.

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: 287 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 $761 of loan paydown is wiped out by about $3k 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 $31k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 17y 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.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $108,350 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.74% ✓
• Cap rate: 15.62%
• Cash-on-cash: 33.31%
• DSCR: 2.48
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $233,214
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2695 Lakeshore Dr	0.40mi	2/1.5 (-1)	868 (+5%)	1mo	$245,000	$282	67
2775 Lakeshore Dr	0.25mi	2/1.0 (-1)	916 (+11%)	12mo	$200,000	$218	54

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: 28.5%
• Equity multiple: 2.19×
• Total profit: $36,598
• Equity at exit: $16,401

10-year hold

• IRR: 35.9%
• Equity multiple: 4.31×
• Total profit: $101,857
• Equity at exit: $9,511

Cash invested: $30,800 (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: 287
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,918 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$38 /mo · $451/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $855

Break-even live

Break-even rent $836

Max offer price $110,000

Occupancy floor 50%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $110,000 Active 26 DOM
2. 2026-06-17
   days on market $110,000 Active 25 DOM
3. 2026-06-16
   days on market $110,000 Active 24 DOM
4. 2026-06-15
   days on market $110,000 Active 23 DOM
5. 2026-06-13
   days on market $110,000 Active 21 DOM
6. 2026-06-12
   days on market $110,000 Active 20 DOM
7. 2026-06-09
   days on market $110,000 Active 17 DOM
8. 2026-06-08
   days on market $110,000 Active 16 DOM
9. 2026-06-07
   days on market $110,000 Active 15 DOM
10. 2026-06-07
    days on market $110,000 Active 14 DOM
11. 2026-06-04
    days on market $110,000 Active 11 DOM
12. 2026-06-02
    days on market $110,000 Active 10 DOM
13. 2026-06-01
    days on market $110,000 Active 9 DOM
14. 2026-05-31
    days on market $110,000 Active 8 DOM
15. 2026-05-31
    days on market $110,000 Active 7 DOM
16. 2026-05-23
    listed $110,000 Active
17. 2021-11-19
    historical
18. 2021-09-04
    listed $49,900 Active
19. 2017-09-17
    historical
20. 2017-08-30
    listed $69,900
21. 2009-09-23
    historical
22. 2009-03-08
    listed $69,900

ⓘ 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: $451 · $38/mo
• Projected year-2 tax: $1,073 · $89/mo
• Expected delta: +$621/yr (+$52/mo · 137.7%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 13 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: $23,017
• − Mortgage interest: −$6,162
• − Property taxes: −$451
• − Insurance: −$550
• − Repairs & maintenance: −$1,841
• − Management: −$1,841
• − Depreciation: −$3,200
• Taxable income: $8,971
• Est. tax owed @ 24.0%: −$2,153
• After-tax cash flow: $8,107/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 — Secord

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

+57.4% since first listed

7 events — show timeline

• 2026-05-23 Listed $110,000 MiRealSource-MiMLS
• 2021-11-19 Listing Removed — MiRealSource-MiMLS
• 2021-09-04 Listed $49,900 MiRealSource-MiMLS
• 2017-09-17 Listing Removed — MiRealSource-MiMLS
• 2017-08-30 Listed $69,900 MiRealSource-MiMLS
• 2009-09-23 Listing Removed — MiRealSource-MiMLS
• 2009-03-08 Listed $69,900 MiRealSource-MiMLS

Property tax history

-3.0%/yr

Latest (2025): $451 · -49.4% YoY. Source: county tax records.