4896 Glenwood Dr · Harrison, MI 48625

$59,900

2 bd · 1.0 ba · 488 sqft · SingleFamily public records · 119 Days on market

Built 1959 7,405 sqft lot $123/sqft · 16% above area Est $61k · at est.

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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
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• ARV discount +8.3/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cozy 2-bedroom cabin featuring an open-concept living room and kitchen accented by rough-sawn lumber ceilings. One bedroom includes convenient laundry hook up with washer and dryer, with a separate dining room or foyer area offering additional flexible space. Numerous updates have been completed in recent years, including a 3/4 bath, raised septic system, 5-inch well, roof, windows, siding, and a privacy fence. The property also includes a 12x28 insulated workshop with electric, plus two additional storage sheds. Interior updates have been started, leaving opportunity for the next owner to add their own finishing touches. No heat source is present, making this a cash-only purchase. Ideally located just down the street from sandy beach access on all-sports Arnold Lake, with potential boat slip availability for a minimal fee. Immediate occupancy available—call today to schedule your showing!

Key facts

• Flexible space
• Separate dining room
• 3/4 bath

Tags

• OPEN-CONCEPT LIVING ROOM
• ROUGH-SAWN LUMBER CEILINGS
• LAUNDRY HOOK UP
• SEPARATE DINING ROOM
• FLEXIBLE SPACE
• 3/4 BATH

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $227 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($812 rent vs $60k).
• Recommended offer: $55k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 2.2% in Harrison — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 65/100 on livability (#471 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A, crime A-; Watch: schools D, amenities F, commute F.
• Harrison Community Schools (town): math 17% / reading 28% proficiency, ranked #457 of 540 in MI (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 246 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 $414 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 $17k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago; this cycle's ask has dropped $10k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $14k; list at $60k implies a 331% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $54,509 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 1.36% ✓
• Cap rate: 10.85%
• Cash-on-cash: 16.27%
• DSCR: 1.72
• GRM: 6.1

CMA / ARV

• ARV (median comp): $61,046
• List price: $59,900
• Delta: -1.88%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5341 Ferndale St	0.70mi	2/1.0	512 (+5%)	7mo	$88,000	$172	54
4226 Southwood Dr	0.34mi	1/1.0 (-1)	540 (+11%)	12mo	$57,900	$107	52

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: 7.3%
• Equity multiple: 1.29×
• Total profit: $4,787
• Equity at exit: $8,931

10-year hold

• IRR: 16.6%
• Equity multiple: 2.36×
• Total profit: $22,866
• Equity at exit: $5,179

Cash invested: $16,772 (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 48625

• Home prices YoY: -25.5%
• Active inventory: 246
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $812 medium
• Mortgage (P&I): −$314
• Tax est. 1.5%: −$75 /mo · $898/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$170
• Net cashflow: $227

Break-even live

Break-even rent $524

Max offer price $59,900

Occupancy floor 67%

Sensitivity live

Price	-10% $269	-5% $248	+0% $227	+5% $207	+10% $186
Rent	-10% $163	-5% $195	+0% $227	+5% $259	+10% $292
Rate	-1.0pp $258	-0.5pp $243	base $227	+0.5pp $212	+1.0pp $196

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $59,900 Active 119 DOM
2. 2026-06-18
   days on market $59,900 Active 117 DOM
3. 2026-06-17
   days on market $59,900 Active 116 DOM
4. 2026-06-16
   days on market $59,900 Active 115 DOM
5. 2026-06-15
   days on market $59,900 Active 114 DOM
6. 2026-06-13
   days on market $59,900 Active 112 DOM
7. 2026-06-12
   days on market $59,900 Active 111 DOM
8. 2026-06-09
   days on market $59,900 Active 108 DOM
9. 2026-06-08
   days on market $59,900 Active 107 DOM
10. 2026-06-07
    days on market $59,900 Active 106 DOM
11. 2026-06-07
    days on market $59,900 Active 105 DOM
12. 2026-06-04
    days on market $59,900 Active 102 DOM
13. 2026-06-02
    days on market $59,900 Active 101 DOM
14. 2026-06-01
    days on market $59,900 Active 100 DOM
15. 2026-05-31
    days on market $59,900 Active 99 DOM
16. 2026-05-31
    days on market $59,900 Active 98 DOM
17. 2026-05-13
    price $59,900 908-char remark

    Show marketing remark (908 chars)

    Cozy 2-bedroom cabin featuring an open-concept living room and kitchen accented by rough-sawn lumber ceilings. One bedroom includes convenient laundry hook up with washer and dryer, with a separate dining room or foyer area offering additional flexible space. Numerous updates have been completed in recent years, including a 3/4 bath, raised septic system, 5-inch well, roof, windows, siding, and a privacy fence. The property also includes a 12x28 insulated workshop with electric, plus two additional storage sheds. Interior updates have been started, leaving opportunity for the next owner to add their own finishing touches. No heat source is present, making this a cash-only purchase. Ideally located just down the street from sandy beach access on all-sports Arnold Lake, with potential boat slip availability for a minimal fee. Immediate occupancy available—call today to schedule your showing!

18. 2026-02-21
    listed $69,900 Active 908-char remark

    Show marketing remark (908 chars)

    Cozy 2-bedroom cabin featuring an open-concept living room and kitchen accented by rough-sawn lumber ceilings. One bedroom includes convenient laundry hook up with washer and dryer, with a separate dining room or foyer area offering additional flexible space. Numerous updates have been completed in recent years, including a 3/4 bath, raised septic system, 5-inch well, roof, windows, siding, and a privacy fence. The property also includes a 12x28 insulated workshop with electric, plus two additional storage sheds. Interior updates have been started, leaving opportunity for the next owner to add their own finishing touches. No heat source is present, making this a cash-only purchase. Ideally located just down the street from sandy beach access on all-sports Arnold Lake, with potential boat slip availability for a minimal fee. Immediate occupancy available—call today to schedule your showing!

19. 2023-11-26
    soldstatus $13,900
20. 2019-08-28
    soldstatus $32,000
21. 2019-04-01
    listed $13,900

ⓘ 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 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥94°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: $9,742
• − Mortgage interest: −$3,355
• − Property taxes: −$898
• − Insurance: −$300
• − Repairs & maintenance: −$779
• − Management: −$779
• − Depreciation: −$1,743
• Taxable income: $1,887
• Est. tax owed @ 24.0%: −$453
• After-tax cash flow: $2,276/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: Harrison Community Schools
• NCES district ID: 2617820
• Math proficiency: 17% ▬ 0.00%
• Reading proficiency: 28% ▼ -5.00%
• Median HH income: $30,377
• Composite: 18.07/100
• National rank: #8977
• State rank: #457 of 540 in MI

Livability — Harrison

• Score: 65/100
• State rank: #471
• US rank: #13368

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 12,939

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 (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 6% Lithuanian 4% Scotch-Irish 2%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1% German/W. Germanic 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: ▼ -80.38%
• Current HPI: 234.9586
• 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

+330.9% since first listed

5 events — show timeline

• 2026-05-13 Price Changed $59,900 MiRealSource-MiMLS
• 2026-02-21 Listed $69,900 MiRealSource-MiMLS
• 2023-11-26 Sold (Public Records) $13,900 Public Records
• 2019-08-28 Sold (Public Records) $32,000 Public Records
• 2019-04-01 Listed $13,900 MiRealSource-MiMLS

Property tax history

-7.1%/yr

Latest (2025): $110 · -74.1% YoY. Source: county tax records.