7100 Spring Lake Ave · Freeman, MI 48632

$72,500

3 bd · 2.0 ba · 1,152 sqft · SingleFamily · 7 Days on market

Built 1996 Fair condition 1.30 ac lot Est $75k · at est.

---

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
• DSCR +10.0/10.0
• ARV discount +8.9/15.0
• 1% rule +8.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Schools +2.4/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover serene living with a view of Windover Lake in this charming newer 3-bedroom, 2-bathroom single-wide manufactured home, conveniently located across the street from the boat launch. Enjoy an inviting kitchen that flows seamlessly into the spacious living room, a primary bedroom suite featuring private bathroom, and a convenient laundry area. Stay comfortable year-round with central air conditioning. The expansive lot also includes a roughly 1200 sq. ft. structure, perfect for storage or renovation potential. Don't miss this opportunity to embrace living at Windover Lake!

Key facts

• Inviting kitchen
• Boat launch
• Private bathroom

Tags

• VIEW OF WINDOVER LAKE
• BOAT LAUNCH
• INVITING KITCHEN
• PRIMARY BEDROOM SUITE
• PRIVATE BATHROOM
• CONVENIENT LAUNDRY AREA

Property features AI

Finance

• Financial info: Annual tax amount reported
• HOA & community: Homeowners association present

Exterior

• Utilities: Private well water; Septic tank sewer
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Above-grade finished area about 1,152 (living area); Built with crawl space foundation
• Exterior features: Lot roughly 1.3 acres; Lot dimensions approximately 380 x 150

Interior

• Bedrooms: 6 total rooms (bedrooms and living spaces included)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Crawl space basement; Has a view

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $72k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $291 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $72k).

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Farwell Area Schools (town): math 24% / reading 34% proficiency, ranked #388 of 540 in MI (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 95 active listings in the ZIP; 77 units permitted in Clare County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $501 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Clare County population projected at -20% 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 $20k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Recommended offer $72,500

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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: 1.38% ✓
• Cap rate: 11.10%
• Cash-on-cash: 17.17%
• DSCR: 1.76
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $74,880
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7100 Spring Lake Ave	0.00mi	3/2.0	1,152 (0%)	0mo	$75,000	$65	100

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: 8.5%
• Equity multiple: 1.33×
• Total profit: $6,769
• Equity at exit: $10,810

10-year hold

• IRR: 17.7%
• Equity multiple: 2.47×
• Total profit: $29,780
• Equity at exit: $6,268

Cash invested: $20,300 (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 48632

• Home prices YoY: -27.9%
• Active inventory: 95
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,002 medium
• Mortgage (P&I): −$380
• Tax est. 1.5%: −$91 /mo · $1,088/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $291

Break-even live

Break-even rent $634

Max offer price $72,500

Occupancy floor 66%

Sensitivity live

Price	-10% $341	-5% $316	+0% $291	+5% $265	+10% $240
Rent	-10% $211	-5% $251	+0% $291	+5% $330	+10% $370
Rate	-1.0pp $327	-0.5pp $309	base $291	+0.5pp $272	+1.0pp $253

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: $18,125
• Closing costs: $2,175
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-20
   listed $72,500 Active 584-char remark

   Show marketing remark (584 chars)

   Discover serene living with a view of Windover Lake in this charming newer 3-bedroom, 2-bathroom single-wide manufactured home, conveniently located across the street from the boat launch. Enjoy an inviting kitchen that flows seamlessly into the spacious living room, a primary bedroom suite featuring private bathroom, and a convenient laundry area. Stay comfortable year-round with central air conditioning. The expansive lot also includes a roughly 1200 sq. ft. structure, perfect for storage or renovation potential. Don't miss this opportunity to embrace living at Windover Lake!

2. 2026-05-20
   listed $72,500 Active

   Show marketing remark (584 chars)

   Discover serene living with a view of Windover Lake in this charming newer 3-bedroom, 2-bathroom single-wide manufactured home, conveniently located across the street from the boat launch. Enjoy an inviting kitchen that flows seamlessly into the spacious living room, a primary bedroom suite featuring private bathroom, and a convenient laundry area. Stay comfortable year-round with central air conditioning. The expansive lot also includes a roughly 1200 sq. ft. structure, perfect for storage or renovation potential. Don't miss this opportunity to embrace living at Windover Lake!

3. 2025-06-26
   historical
4. 2025-06-05
   listed $65,000 Active
5. 2025-06-05
   listed $65,000 Active

ⓘ 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 FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥95°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,023
• − Mortgage interest: −$4,061
• − Property taxes: −$1,088
• − Insurance: −$362
• − Repairs & maintenance: −$962
• − Management: −$962
• − Depreciation: −$2,109
• Taxable income: $2,479
• Est. tax owed @ 24.0%: −$595
• After-tax cash flow: $2,891/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This single-wide manufactured home requires moderate renovations to update the kitchen and bathrooms, paint the exterior, and replace the carpet. These updates will significantly enhance its resale and rental value.

Repairs flagged

• Minor kitchen cabinets — slight wear
• Minor bathroom fixtures — slight wear
• Minor exterior siding — some wear

Value-add opportunities

• Resale update kitchen cabinets — modernizing kitchen
• Resale update bathrooms — modernizing bathrooms
• Resale paint exterior siding — enhances curb appeal
• Rental replace carpet — improves comfort and appearance

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · slight wear	Minor	$500–3,000
bathroom fixtures · slight wear	Minor	$500–3,000
exterior siding · some wear	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Resale update kitchen cabinets — modernizing kitchen ↑
• Resale update bathrooms — modernizing bathrooms ↑
• Resale paint exterior siding — enhances curb appeal ↑
• Rental replace carpet — improves comfort and appearance ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Farwell Area Schools
• NCES district ID: 2614100
• Math proficiency: 24% ▼ -8.00%
• Reading proficiency: 34% ▼ -8.00%
• Median HH income: $36,696
• Composite: 24.07/100
• National rank: #7760
• State rank: #388 of 540 in MI

Livability — Freeman

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

Census & demographics

• Population (ZIP): 4,995

Population outlook (Clare County) Hauer SSP2

• Today (2025): 29,283 people
• By 2030: 28,199 · -3.7%
• By 2040: 25,722 · -12.2%
• By 2050: 23,372 · -20.2%
• By 2075: 18,569 · -36.6%
• By 2100: 14,320 · -51.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 4%
• Common ancestry: Romanian 7% Lithuanian 3% Slovak 2%
• Foreign-born: 2% · Canada, China, South Korea
• Languages at home: 95% English-only · German/W. Germanic 2% Spanish 1% Chinese 1%

Political lean MEDSL · Clare

• 2024 margin: Solid R (+37.6) · D 30.5% · R 68.1% · Other 1.4%
• 2008→2024 swing: -42.4pp toward R · 2008: 4.8pp · 2024: -37.6pp
• All cycles: 2024: R+37.6 2020: R+34.8 2016: R+31.8 2012: R+4.8 2008: D+4.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -90.83%
• Current HPI: 234.5118
• 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

+11.5% since first listed

5 events — show timeline

• 2026-05-20 Listed $72,500 REALCOMP
• 2026-05-20 Listed $72,500 MiRealSource-MiMLS
• 2025-06-26 Listing Removed — MiRealSource-MiMLS
• 2025-06-05 Listed $65,000 MiRealSource-MiMLS
• 2025-06-05 Listed $65,000 REALCOMP