6384 Charleen Ln · Garfield, MI 48632

$39,000

3 bd · 1.0 ba · 600 sqft · SingleFamily public records · 124 Days on market

Built 1975 Fair condition 4,356 sqft lot $65/sqft · 24% below area Est $68k · 43% under ↓ 22% since listing

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming cabin-style ranch offers peaceful lake view living in a quiet setting with immediate possession available. The home features an open layout with vaulted ceilings. It is equipped with infrastructure for a secondary heating unit, a durable metal roof, and low-maintenance vinyl windows. Schedule your private tour today!

Key facts

• Vinyl windows
• Metal roof
• Lake view

Tags

• LAKE VIEW
• OPEN LAYOUT
• VAULTED CEILINGS
• METAL ROOF
• VINYL WINDOWS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $39k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $362 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($852 rent vs $39k).
• Recommended offer: $34k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.4% vs local median 2.6% in Garfield — 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: 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.
• Zoned schools: Farwell Elementary School (math 32% / reading 27%, grade F, #866 of 1,397 statewide, top 65%, 329 students, 77% FRL); Farwell Middle School (math 25% / reading 33%, grade F, #355 of 493 statewide, top 72%, 300 students, 68% FRL).
• Market conditions: 133 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 $270 of loan paydown is wiped out by about $1k 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 $11k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 124 days — a 12% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $11k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price.

Recommended offer $34,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 124 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 2.19% ✓
• Cap rate: 17.42%
• Cash-on-cash: 39.75%
• DSCR: 2.77
• GRM: 3.8

CMA / ARV

• ARV (median comp): $68,365
• List price: $39,000
• Delta: -42.95%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11081 Kay Lynn Dr	0.15mi	1/1.0 (-2)	648 (+8%)	7mo	$25,000	$39	64
6482 Garfield Ave Ave	0.25mi	2/1.0 (-1)	768 (+28%)	13mo	$65,500	$85	48
11066 Kaylynn Dr	0.15mi	1/1.0 (-2)	500 (-17%)	26mo	$69,000	$138	38
7265 Clareola Ave	1.41mi	2/1.0 (-1)	700 (+17%)	25mo	$355,000	$507	15

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: 36.1%
• Equity multiple: 2.53×
• Total profit: $16,759
• Equity at exit: $5,815

10-year hold

• IRR: 42.8%
• Equity multiple: 5.07×
• Total profit: $44,418
• Equity at exit: $3,372

Cash invested: $10,920 (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: 133
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $852 medium
• Mortgage (P&I): −$205
• Tax from tax record: −$91 /mo · $1,090/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$179
• Net cashflow: $362

Break-even live

Break-even rent $394

Max offer price $39,000

Occupancy floor 53%

Sensitivity live

Price	-10% $384	-5% $373	+0% $362	+5% $351	+10% $340
Rent	-10% $294	-5% $328	+0% $362	+5% $395	+10% $429
Rate	-1.0pp $381	-0.5pp $372	base $362	+0.5pp $352	+1.0pp $341

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: $9,750
• Closing costs: $1,170
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Exterior

• Utilities: Well waterPropane water heater
• Home design: Ranch styleSingle-family residenceResidential property
• Construction: Built in 1975Wood sidingMetal roof
• Exterior features: Approximately 0.1-acre lot

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: 6 total roomsCrawl space basement

Listing history 50 events

1. 2026-08-08
   days on market $39,000 Active 124 DOM
2. 2026-08-07
   days on market $39,000 Active 123 DOM
3. 2026-08-06
   days on market $39,000 Active 122 DOM
4. 2026-08-05
   days on market $39,000 Active 121 DOM
5. 2026-08-04
   days on market $39,000 Active 120 DOM
6. 2026-08-03
   days on market $39,000 Active 119 DOM
7. 2026-07-31
   days on market $39,000 Active 116 DOM
8. 2026-07-29
   days on market $39,000 Active 114 DOM
9. 2026-07-27
   days on market $39,000 Active 112 DOM
10. 2026-07-25
    days on market $39,000 Active 110 DOM
11. 2026-07-24
    days on market $39,000 Active 109 DOM
12. 2026-07-23
    days on market $39,000 Active 108 DOM
13. 2026-07-22
    days on market $39,000 Active 107 DOM
14. 2026-07-21
    days on market $39,000 Active 106 DOM
15. 2026-07-18
    statusdays on market $39,000 Active 103 DOM
16. 2026-07-14
    status $39,000 Pending 102 DOM
17. 2026-07-13
    days on market $39,000 Active 102 DOM
18. 2026-07-12
    days on market $39,000 Active 101 DOM
19. 2026-07-12
    days on market $39,000 Active 100 DOM
20. 2026-07-10
    days on market $39,000 Active 99 DOM
21. 2026-07-09
    pricedays on market $39,000 Active 98 DOM

    Show marketing remark (332 chars)

    This charming cabin-style ranch offers peaceful lake view living in a quiet setting with immediate possession available. The home features an open layout with vaulted ceilings. It is equipped with infrastructure for a secondary heating unit, a durable metal roof, and low-maintenance vinyl windows. Schedule your private tour today!

22. 2026-07-08
    days on market $42,000 Active 96 DOM

    Show marketing remark (332 chars)

    This charming cabin-style ranch offers peaceful lake view living in a quiet setting with immediate possession available. The home features an open layout with vaulted ceilings. It is equipped with infrastructure for a secondary heating unit, a durable metal roof, and low-maintenance vinyl windows. Schedule your private tour today!

23. 2026-07-06
    days on market $42,000 Active 95 DOM
24. 2026-07-05
    days on market $42,000 Active 94 DOM
25. 2026-07-05
    days on market $42,000 Active 93 DOM
26. 2026-07-03
    days on market $42,000 Active 92 DOM
27. 2026-07-02
    days on market $42,000 Active 91 DOM
28. 2026-07-01
    days on market $42,000 Active 90 DOM
29. 2026-06-30
    days on market $42,000 Active 89 DOM
30. 2026-06-29
    days on market $42,000 Active 88 DOM
31. 2026-06-28
    days on market $42,000 Active 87 DOM
32. 2026-06-27
    days on market $42,000 Active 86 DOM
33. 2026-06-26
    days on market $42,000 Active 84 DOM
34. 2026-06-22
    days on market $42,000 Active 81 DOM
35. 2026-06-21
    pricedays on market $42,000 Active 80 DOM

    Show marketing remark (332 chars)

    This charming cabin-style ranch offers peaceful lake view living in a quiet setting with immediate possession available. The home features an open layout with vaulted ceilings. It is equipped with infrastructure for a secondary heating unit, a durable metal roof, and low-maintenance vinyl windows. Schedule your private tour today!

36. 2026-06-21
    days on market $47,500 Active 79 DOM

    Show marketing remark (332 chars)

    This charming cabin-style ranch offers peaceful lake view living in a quiet setting with immediate possession available. The home features an open layout with vaulted ceilings. It is equipped with infrastructure for a secondary heating unit, a durable metal roof, and low-maintenance vinyl windows. Schedule your private tour today!

37. 2026-06-18
    days on market $47,500 Active 77 DOM
38. 2026-06-17
    days on market $47,500 Active 76 DOM
39. 2026-06-16
    days on market $47,500 Active 75 DOM
40. 2026-06-15
    days on market $47,500 Active 74 DOM
41. 2026-06-13
    days on market $47,500 Active 72 DOM
42. 2026-06-12
    days on market $47,500 Active 71 DOM
43. 2026-06-09
    days on market $47,500 Active 68 DOM
44. 2026-06-08
    days on market $47,500 Active 67 DOM
45. 2026-06-07
    days on market $47,500 Active 66 DOM
46. 2026-06-07
    days on market $47,500 Active 65 DOM
47. 2026-06-04
    days on market $47,500 Active 62 DOM
48. 2026-06-02
    days on market $47,500 Active 61 DOM
49. 2026-06-01
    days on market $47,500 Active 60 DOM
50. 2026-05-31
    days on market $47,500 Active 59 DOM

ⓘ 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: $1,090 · $91/mo
• Projected year-2 tax: $1,090 · $91/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $10,228
• − Mortgage interest: −$2,185
• − Property taxes: −$1,090
• − Insurance: −$195
• − Repairs & maintenance: −$818
• − Management: −$818
• − Depreciation: −$1,135
• Taxable income: $3,987
• Est. tax owed @ 24.0%: −$957
• After-tax cash flow: $3,384/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 · 9 photos

Fair 45/100 Moderate rehab Est. rehab $15,000–$27,000 screening

This cabin-style ranch requires moderate renovations, focusing on structural repairs and aesthetic updates to improve its resale and rental value.

Deferred maintenance Est. $70,000–$210,000 screening

• Major Roof (roof) — No roof visible in photos
• Major Hvac (hvac) — No HVAC unit visible in photos
• Major Windows (windows) — No windows visible in photos
• Major Electrical (electrical) — No electrical panel visible in photos
• Major Plumbing (plumbing) — No plumbing fixtures visible in photos
• Major Exterior (exterior) — No exterior walls or siding visible in photos
• Major Other — No other components visible in photos

Repairs flagged

• Major Exposed subfloor in kitchen — Structural damage
• Major Missing cabinets in kitchen — Aesthetic and functional deficiency
• Major Worn carpet in kitchen and bath — Aesthetic and comfort issues
• Major Exposed subfloor in exterior — Structural damage

Value-add opportunities

• Resale Paint interior walls — Fresh paint enhances curb appeal ↑
• Resale Replace carpet in kitchen and bath — New carpet improves comfort and aesthetics ↑
• Both Landscaping and curb appeal improvements — Enhances property's overall appeal and value ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 30/100

Zoned Schools

Elementary Farwell Elementary School F MI #866/1,397 Nat'l #26,716/41,679 Middle Farwell Middle School F MI #355/493 Nat'l #9,290/14,009 High Farwell High School F MI #405/713 Nat'l #10,416/17,239

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 — Garfield

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

Census & demographics

• County: Clare · 29,283 people
• Population (ZIP): 4,995
• Household income: $51,740
• Rent vs Own: 7.1% rent · 92.9% own
• Severe rent burden: 13% of renters

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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%

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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%

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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

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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

Property features AI

Exterior

• Utilities: Well waterPropane water heater
• Home design: Ranch styleSingle-family residenceResidential property
• Construction: Built in 1975Wood sidingMetal roof
• Exterior features: Approximately 0.1-acre lot

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: 6 total roomsCrawl space basement

Price history

-21.8% since first listed

12 events — show timeline

• 2026-07-09 Price Changed $39,000 MiRealSource-MiMLS
• 2026-07-08 Price Changed $39,000 REALCOMP
• 2026-07-08 Price Changed $39,000 SW Michigan MLS
• 2026-06-21 Price Changed $42,000 MiRealSource-MiMLS
• 2026-06-21 Price Changed $42,000 REALCOMP
• 2026-06-21 Price Changed $42,000 SW Michigan MLS
• 2026-04-29 Price Changed $47,500 MiRealSource-MiMLS
• 2026-04-29 Price Changed $47,500 REALCOMP
• 2026-04-29 Price Changed $47,500 SW Michigan MLS
• 2026-03-30 Listed $49,900 SW Michigan MLS
• 2026-03-30 Listed $49,900 REALCOMP
• 2026-03-30 Listed $49,900 MiRealSource-MiMLS

Property tax history

+5.7%/yr

Latest (2025): $1,090 · -0.3% YoY. Source: county tax records.