4261 Charlebois Dr · Beaverton, MI 48612

$119,500

3 bd · 1.0 ba · 1,216 sqft · SingleFamily · 38 Days on market

Built 1966 0.32 ac lot $98/sqft · 28% below area Est $166k · 28% 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).

• Cash flow +16.7/30.0
• ARV discount +15.0/15.0
• DSCR +5.2/10.0
• 1% rule +3.9/10.0
• Livability +3.5/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 4261 Charlebois Drive This 3-bedroom, 1-bath home offers endless potential with thoughtful updates already underway and more to come. Recent improvements include new carpet, updated flooring, a new countertop and sink, and refreshed cabinetry. NEW 5" WELL , adding even more value for the next owner. Set in a truly unique location on the Tittabawassee River, this property provides a rare opportunity to enjoy waterfront living. A 15-foot easement allows for dock placement and convenient boat storage - perfect for making the most of river life. A $550 annual special assessment applies. Don't miss your chance to own this one-of-a-kind property with incredible possibilities.

Key facts

• New carpet
• Dock placement
• New countertop

Tags

• NEW CARPET
• UPDATED FLOORING
• NEW COUNTERTOP
• REFRESHED CABINETRY
• WATERFRONT LIVING
• DOCK PLACEMENT

Property features AI

Finance

• Other: Lot approximately 0.32 acres (121 x 116); Subdivision: LEONEL SUB; Directions: Estey Rd, Right on Jones Rd, Right on Anderson Rd; Cross street: Anderson

Exterior

• Parking: Attached garage (1 car)
• Utilities: Private well water; Septic tank sewer
• Home design: Single-family residence; One story; Entry on ground level
• Construction: Vinyl siding; Slab foundation; Built as one-level home
• Exterior features: Outdoor lighting; Waterfront access to the Tittabawassee River; Dirt road access

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Propane heating; Wall furnace; No central cooling
• Interior features: Total of 5 rooms; Ground-level entry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $75 ($896/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $106k (11.3% below list).
• Recommended offer: $106k (11.3% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 3.1% in Beaverton — 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 70/100 on livability (#323 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: schools D-, amenities F, commute F.
• Beaverton Rural Schools (rural): math 24% / reading 37% proficiency, ranked #364 of 540 in MI (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 104 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 $826 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 16y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $37k; list at $120k implies a 223% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $106,027 (11.3% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.89% ✗
• Cap rate: 7.04%
• Cash-on-cash: 2.68%
• DSCR: 1.12
• GRM: 9.4

CMA / ARV

• ARV (median comp): $165,943
• List price: $119,500
• Delta: -27.99%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4148 Lakeside Dr	0.26mi	3/1.5	1,273 (+5%)	4mo	$400,000	$314	75
1212 Janice Ln	0.37mi	3/2.0	1,214 (-0%)	6mo	$190,000	$157	74
4142 Grant Rd	0.24mi	3/2.0	1,144 (-6%)	8mo	$125,000	$109	68
4154 Lakeside Dr	0.25mi	2/1.0 (-1)	1,104 (-9%)	4mo	$125,000	$113	64
1131 Hemlock Rd	0.30mi	3/1.5	1,100 (-10%)	12mo	$166,000	$151	58
1219 Janice Ln	0.33mi	3/1.5	1,350 (+11%)	12mo	$180,000	$133	54
3958 Jones Rd	0.73mi	3/2.0	1,357 (+12%)	23mo	$125,000	$92	23

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: -12.1%
• Equity multiple: 0.56×
• Total profit: $-14,633
• Equity at exit: $17,818

10-year hold

• IRR: -3.0%
• Equity multiple: 0.80×
• Total profit: $-6,713
• Equity at exit: $10,332

Cash invested: $33,460 (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 48612

• Home prices YoY: -23.3%
• Active inventory: 104
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,060 medium
• Mortgage (P&I): −$627
• Tax from tax record: −$87 /mo · $1,038/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $75

Break-even live

Break-even rent $966

Max offer price $119,500

Occupancy floor 88%

Sensitivity live

Price	-10% $142	-5% $108	+0% $75	+5% $41	+10% $7
Rent	-10% $-9	-5% $33	+0% $75	+5% $117	+10% $158
Rate	-1.0pp $135	-0.5pp $105	base $75	+0.5pp $44	+1.0pp $12

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: $29,875
• Closing costs: $3,585
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-07
   statusdays on market $119,500 Pending 38 DOM
2. 2026-06-04
   days on market $119,500 Active 35 DOM
3. 2026-06-02
   days on market $119,500 Active 34 DOM
4. 2026-06-01
   days on market $119,500 Active 33 DOM
5. 2026-05-31
   days on market $119,500 Active 32 DOM
6. 2026-05-31
   days on market $119,500 Active 31 DOM
7. 2026-04-28
   listed $129,900 Active 704-char remark

   Show marketing remark (694 chars)

   Welcome to 4261 Charlebois Drive This 3-bedroom, 1-bath home offers endless potential with thoughtful updates already underway and more to come. Recent improvements include new carpet, updated flooring, a new countertop and sink, and refreshed cabinetry. NEW 5" WELL , adding even more value for the next owner. Set in a truly unique location on the Tittabawassee River, this property provides a rare opportunity to enjoy waterfront living. A 15-foot easement allows for dock placement and convenient boat storage - perfect for making the most of river life. A $550 annual special assessment applies. Don't miss your chance to own this one-of-a-kind property with incredible possibilities.

8. 2026-04-28
   listed $129,900 Active 694-char remark

   Show marketing remark (694 chars)

   Welcome to 4261 Charlebois Drive This 3-bedroom, 1-bath home offers endless potential with thoughtful updates already underway and more to come. Recent improvements include new carpet, updated flooring, a new countertop and sink, and refreshed cabinetry. NEW 5" WELL , adding even more value for the next owner. Set in a truly unique location on the Tittabawassee River, this property provides a rare opportunity to enjoy waterfront living. A 15-foot easement allows for dock placement and convenient boat storage - perfect for making the most of river life. A $550 annual special assessment applies. Don't miss your chance to own this one-of-a-kind property with incredible possibilities.

9. 2026-03-30
   historical
10. 2026-03-30
    historical
11. 2026-01-27
    price $89,900
12. 2026-01-27
    price $89,900
13. 2025-12-14
    price $95,000
14. 2025-12-14
    price $95,000
15. 2025-10-31
    price $100,000
16. 2025-10-31
    price $100,000
17. 2025-10-10
    price $109,000
18. 2025-10-10
    price $109,000
19. 2025-10-01
    listed $114,000 Active
20. 2025-09-30
    listed $114,000 Active
21. 2018-04-24
    soldstatus $37,000
22. 2015-08-15
    historical
23. 2014-03-22
    listed $59,900
24. 2011-05-14
    historical
25. 2010-05-14
    listed $63,900

ⓘ 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: $1,038 · $87/mo
• Projected year-2 tax: $1,439 · $120/mo
• Expected delta: +$401/yr (+$33/mo · 38.6%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 66% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥97°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: $12,723
• − Mortgage interest: −$6,694
• − Property taxes: −$1,038
• − Insurance: −$598
• − Repairs & maintenance: −$1,018
• − Management: −$1,018
• − Depreciation: −$3,476
• Taxable loss: −$1,118
• Est. tax savings @ 24.0%: +$268
• After-tax cash flow: $1,164/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: Beaverton Rural Schools
• NCES district ID: 2604440
• Math proficiency: 24% ▼ -2.00%
• Reading proficiency: 37% ▼ -2.00%
• Median HH income: $39,200
• Composite: 25.54/100
• National rank: #7431
• State rank: #364 of 540 in MI

Livability — Beaverton

• Score: 70/100
• State rank: #323
• US rank: #7931

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 8,505

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 (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Lithuanian 5% Romanian 5% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% German/W. Germanic 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: ▼ -65.55%
• Current HPI: 215.4508
• 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

+87.0% since first listed

23 events — show timeline

• 2026-06-06 Pending — MiRealSource-MiMLS
• 2026-06-06 Pending — REALCOMP
• 2026-05-29 Price Changed $119,500 MiRealSource-MiMLS
• 2026-05-29 Price Changed $119,500 REALCOMP
• 2026-04-28 Listed $129,900 REALCOMP
• 2026-04-28 Listed $129,900 MiRealSource-MiMLS
• 2026-03-30 Listing Removed — Greater Lansing AoR
• 2026-03-30 Listing Removed — REALCOMP
• 2026-01-27 Price Changed $89,900 REALCOMP
• 2026-01-27 Price Changed $89,900 Greater Lansing AoR
• 2025-12-14 Price Changed $95,000 REALCOMP
• 2025-12-14 Price Changed $95,000 Greater Lansing AoR
• 2025-10-31 Price Changed $100,000 REALCOMP
• 2025-10-31 Price Changed $100,000 Greater Lansing AoR
• 2025-10-10 Price Changed $109,000 REALCOMP
• 2025-10-10 Price Changed $109,000 Greater Lansing AoR
• 2025-10-01 Listed $114,000 REALCOMP
• 2025-09-30 Listed $114,000 Greater Lansing AoR
• 2018-04-24 Sold (Public Records) $37,000 Public Records
• 2015-08-15 Listing Removed — MiRealSource-MiMLS
• 2014-03-22 Listed $59,900 MiRealSource-MiMLS
• 2011-05-14 Listing Removed — MiRealSource-MiMLS
• 2010-05-14 Listed $63,900 MiRealSource-MiMLS

Property tax history

-7.7%/yr

Latest (2025): $1,038 · -56.9% YoY. Source: county tax records.