21187 Parkview Rd Lot : 32 · Burdell, MI 49688

$154,900

3 bd · 2.5 ba · 1,484 sqft · SingleFamily · 69 Days on market

Built 1980 Average condition 0.36 ac lot $104/sqft · 42% below area Est $265k · 42% under

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Why this score? — see what drove the C- 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).

• ARV discount +15.0/15.0
• Cash flow +11.5/30.0
• Appreciation +10.0/10.0
• DSCR +3.4/10.0
• 1% rule +3.3/10.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Livability +2.5/5.0

Listing remarks MLS

Welcome to this lake-area home that works perfectly as a year-round residence, seasonal getaway, or investment property – complete with private lake access to Hewitt Lake. This 3 bedroom 2 1/2 bath home has recent upgrades including a beautifully updated primary bathroom with a tiled shower, new carpet, new kitchen appliances and a brand-new deck ideal for summer barbecues and outdoor entertaining. This wooded lot gives you a peaceful feeling along with great view of the seasonal changes. There is an additional room not accessible from the main home. This room has a half bath, cabinets and space for hobby room, office, patio kitchen or whatever works for your needs. Hewitt Lake is a private, no-wake lake known for excellent fishing and peaceful surroundings. The association provides exclusive lake access, a pavilion picnic area, and a convenient boat launch for members. Ideally located with easy access to US-131 for your commute while placing you close to a wide range of recreational opportunities such as fishing, golfing, kayaking, ATV trails, and nearby public lakes. Get ready to enjoy relaxed lake living and make the most of summer by the water. .

Key facts

• Brand-new deck
• Wooded lot
• Private lake access

Tags

• PRIVATE LAKE ACCESS
• UPDATED PRIMARY BATHROOM
• NEW KITCHEN APPLIANCES
• BRAND-NEW DECK
• WOODED LOT
• EXCLUSIVE LAKE ACCESS

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $155k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $-51 ($-612/yr) — negative.
• To cash-flow at today's rent, offer at most $148k (4.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (16.7% below list).
• Recommended offer: $129k (16.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Pine River Area Schools (rural): math 22% / reading 38% proficiency, ranked #369 of 540 in MI (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 22 active listings in the ZIP; 5 units permitted in Osceola County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Osceola County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $43k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 5 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 $129,050 (16.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
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. 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.
6. 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.
7. 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: 0.83% ✗
• Cap rate: 5.90%
• Cash-on-cash: -1.41%
• DSCR: 0.94
• GRM: 10.0

CMA / ARV

• ARV (median comp): $265,070
• List price: $154,900
• Delta: -41.56%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.3%
• Equity multiple: 2.87×
• Total profit: $81,135
• Equity at exit: $139,546

10-year hold

• IRR: 20.7%
• Equity multiple: 6.57×
• Total profit: $241,521
• Equity at exit: $300,937

Cash invested: $43,372 (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 49688

• Home prices YoY: 5.9%
• Active inventory: 22
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,290 medium
• Mortgage (P&I): −$812
• Tax est. 1.5%: −$194 /mo · $2,324/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $-51

Break-even live

Break-even rent $1,355

Max offer price $147,523

Occupancy floor 99%

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $154,900 Active 69 DOM
2. 2026-06-17
   days on market $154,900 Active 68 DOM
3. 2026-06-16
   days on market $154,900 Active 67 DOM
4. 2026-06-15
   days on market $154,900 Active 66 DOM
5. 2026-06-13
   days on market $154,900 Active 64 DOM
6. 2026-06-12
   days on market $154,900 Active 63 DOM
7. 2026-06-09
   days on market $154,900 Active 60 DOM
8. 2026-06-08
   days on market $154,900 Active 59 DOM
9. 2026-06-07
   days on market $154,900 Active 58 DOM
10. 2026-06-07
    days on market $154,900 Active 57 DOM
11. 2026-06-04
    days on market $154,900 Active 54 DOM
12. 2026-06-02
    days on market $154,900 Active 53 DOM
13. 2026-06-01
    days on market $154,900 Active 52 DOM
14. 2026-05-31
    days on market $154,900 Active 51 DOM
15. 2026-05-31
    days on market $154,900 Active 50 DOM
16. 2026-05-19
    status Back on Market 1187-char remark

    Show marketing remark (1187 chars)

    Welcome to this lake-area home that works perfectly as a year-round residence, seasonal getaway, or investment property – complete with private lake access to Hewitt Lake. This 3 bedroom 2 1/2 bath home has recent upgrades including a beautifully updated primary bathroom with a tiled shower, new carpet, new kitchen appliances and a brand-new deck ideal for summer barbecues and outdoor entertaining. This wooded lot gives you a peaceful feeling along with great view of the seasonal changes. There is an additional room not accessible from the main home. This room has a half bath, cabinets and space for hobby room, office, patio kitchen or whatever works for your needs. Hewitt Lake is a private, no-wake lake known for excellent fishing and peaceful surroundings. The association provides exclusive lake access, a pavilion picnic area, and a convenient boat launch for members. Ideally located with easy access to US-131 for your commute while placing you close to a wide range of recreational opportunities such as fishing, golfing, kayaking, ATV trails, and nearby public lakes. Get ready to enjoy relaxed lake living and make the most of summer by the water. .

17. 2026-05-05
    historical Accepting Backup Offers 1187-char remark

    Show marketing remark (1187 chars)

    Welcome to this lake-area home that works perfectly as a year-round residence, seasonal getaway, or investment property – complete with private lake access to Hewitt Lake. This 3 bedroom 2 1/2 bath home has recent upgrades including a beautifully updated primary bathroom with a tiled shower, new carpet, new kitchen appliances and a brand-new deck ideal for summer barbecues and outdoor entertaining. This wooded lot gives you a peaceful feeling along with great view of the seasonal changes. There is an additional room not accessible from the main home. This room has a half bath, cabinets and space for hobby room, office, patio kitchen or whatever works for your needs. Hewitt Lake is a private, no-wake lake known for excellent fishing and peaceful surroundings. The association provides exclusive lake access, a pavilion picnic area, and a convenient boat launch for members. Ideally located with easy access to US-131 for your commute while placing you close to a wide range of recreational opportunities such as fishing, golfing, kayaking, ATV trails, and nearby public lakes. Get ready to enjoy relaxed lake living and make the most of summer by the water. .

18. 2026-04-08
    listed $159,900 Active 1187-char remark

    Show marketing remark (1187 chars)

    Welcome to this lake-area home that works perfectly as a year-round residence, seasonal getaway, or investment property – complete with private lake access to Hewitt Lake. This 3 bedroom 2 1/2 bath home has recent upgrades including a beautifully updated primary bathroom with a tiled shower, new carpet, new kitchen appliances and a brand-new deck ideal for summer barbecues and outdoor entertaining. This wooded lot gives you a peaceful feeling along with great view of the seasonal changes. There is an additional room not accessible from the main home. This room has a half bath, cabinets and space for hobby room, office, patio kitchen or whatever works for your needs. Hewitt Lake is a private, no-wake lake known for excellent fishing and peaceful surroundings. The association provides exclusive lake access, a pavilion picnic area, and a convenient boat launch for members. Ideally located with easy access to US-131 for your commute while placing you close to a wide range of recreational opportunities such as fishing, golfing, kayaking, ATV trails, and nearby public lakes. Get ready to enjoy relaxed lake living and make the most of summer by the water. .

19. 2025-11-06
    historical
20. 2025-09-23
    status Active
21. 2025-09-18
    historical Accepting Backup Offers
22. 2025-07-21
    price $89,000
23. 2025-07-15
    status Back on Market
24. 2025-06-05
    historical Accepting Backup Offers
25. 2025-05-05
    listed $99,000 Active

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

Taxation est. · year 1

• Rental income: $15,486
• − Mortgage interest: −$8,677
• − Property taxes: −$2,324
• − Insurance: −$774
• − Repairs & maintenance: −$1,239
• − Management: −$1,239
• − Depreciation: −$4,506
• Taxable loss: −$3,273
• Est. tax savings @ 24.0%: +$785
• After-tax cash flow: $174/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

Average 55/100 Moderate rehab

This home requires moderate renovations to update the kitchen and bathrooms, repair the roof and exterior siding, and paint the interior walls. The property has a good location with lake access, but the current condition is average.

Repairs flagged

• Moderate kitchen cabinets — dated and worn
• Moderate bathroom fixtures — dated and worn
• Moderate roof — visible wear
• Moderate exterior siding — some wear

Value-add opportunities

• Both update kitchen cabinets and appliances — modernizing kitchen
• Both update bathrooms with new fixtures and tile — modernizing bathrooms
• Both repair and paint exterior siding — enhancing curb appeal
• Both repair roof — improving home value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and worn	Moderate	$3,000–15,000
bathroom fixtures · dated and worn	Moderate	$3,000–15,000
roof · visible wear	Moderate	$3,000–15,000
exterior siding · some wear	Moderate	$3,000–15,000
Total estimated repair cost · 4 items		$12,000–60,000

Value-add ROI direction

• Both update kitchen cabinets and appliances — modernizing kitchen ↑
• Both update bathrooms with new fixtures and tile — modernizing bathrooms ↑
• Both repair and paint exterior siding — enhancing curb appeal ↑
• Both repair roof — improving home value ↑

ⓘ 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: Pine River Area Schools
• NCES district ID: 2628200
• Math proficiency: 22% ▼ -9.00%
• Reading proficiency: 38% ▼ -4.00%
• Median HH income: $41,589
• Composite: 25.34/100
• National rank: #7475
• State rank: #369 of 540 in MI

Livability — Burdell

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

Census & demographics

• Population (ZIP): 2,443

Population outlook (Osceola County) Hauer SSP2

• Today (2025): 21,724 people
• By 2030: 20,769 · -4.4%
• By 2040: 18,720 · -13.8%
• By 2050: 16,611 · -23.5%
• By 2075: 11,942 · -45.0%
• By 2100: 7,546 · -65.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 4%
• Common ancestry: Iranian 6% Lithuanian 4% Romanian 4%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · German/W. Germanic 2%

Political lean MEDSL · Osceola

• 2024 margin: Solid R (+47.9) · D 25.2% · R 73.1% · Other 1.7%
• 2008→2024 swing: -37.7pp toward R · 2008: -10.1pp · 2024: -47.9pp
• All cycles: 2024: R+47.9 2020: R+46.3 2016: R+43.7 2012: R+21.0 2008: R+10.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 15.12%
• Current HPI: 271.6507
• 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

+61.5% since first listed

10 events — show timeline

• 2026-05-19 Relisted — MiRealSource-MiMLS
• 2026-05-05 Contingent — MiRealSource-MiMLS
• 2026-04-08 Listed $159,900 MiRealSource-MiMLS
• 2025-11-06 Listing Removed — MiRealSource-MiMLS
• 2025-09-23 Relisted — MiRealSource-MiMLS
• 2025-09-18 Contingent — MiRealSource-MiMLS
• 2025-07-21 Price Changed $89,000 MiRealSource-MiMLS
• 2025-07-15 Relisted — MiRealSource-MiMLS
• 2025-06-05 Contingent — MiRealSource-MiMLS
• 2025-05-05 Listed $99,000 MiRealSource-MiMLS