5177 Fishing Site Rd · Harrison, MI 48625

$74,451

2 bd · 1.0 ba · 600 sqft · SingleFamily public records · 13 Days on market

Built 1962 7,405 sqft lot $124/sqft · 12% below area Est $101k · 26% 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 +22.6/30.0
• ARV discount +15.0/15.0
• DSCR +7.2/10.0
• 1% rule +5.8/10.0
• 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

Escape to this charming and cozy lake-access cottage, just a short stroll from beautiful Cranberry Lake Beach and pavilion. Lovingly owned by the same family since it was built, this special retreat is filled with years of cherished memories—and now it’s ready for a new chapter. Whether you’re looking for peaceful weekends or outdoor adventure, this property has it all. Cruise the back roads on your ATV right from the cottage, or head to nearby state land for excellent hunting and fishing opportunities. Conveniently located just minutes from the City of Harrison, you’ll enjoy easy access to shopping, dining, Wilson State Park, and the Clare County Fairgrounds—o

Key facts

• Wilson state park
• Cranberry lake beach
• Hunting and fishing

Tags

• LAKE ACCESS
• CRANBERRY LAKE BEACH
• STATE LAND
• HUNTING AND FISHING
• EASY ACCESS TO SHOPPING
• WILSON STATE PARK

Property features AI

Finance

• HOA & community: Community amenities include a beach area

Exterior

• Parking: Parking for 2 vehicles
• Utilities: Electric service connected; Private drilled well; Septic system
• Home design: One-story residential home; Built in 1962; Slab foundation; Interior lake access (Cranberry Lake)
• Construction: Vinyl siding and vinyl trim; Shallow/Slab foundation; Year built 1962
• Exterior features: Front porch; Shed (outbuilding); Treed site with rural view; Subdivision setting; Access to Cranberry Lake: dock/pier facility, lake/river privileges and beach access; Road frontage (approximately 60') with year-round access

Interior

• Kitchen: Main-level kitchen (approx. 13 x 6); Includes microwave and refrigerator; Dining area adjacent to kitchen (approx. 17 x 8) with laminate flooring
• Bedrooms: Main-level bedrooms with laminate flooring; Bedroom sizes approximately 9 x 8 and 10 x 9
• Flooring: Laminate flooring throughout main living areas, dining room, kitchen, bedrooms and bathroom
• Bathrooms: One full bathroom on the main level with laminate flooring (approx. 11 x 6)
• Heating & cooling: Forced air heating and wall heaters; LP/Propane fuel with wood supplemental heat; Ceiling fan(s) for cooling; Electric water heater
• Interior features: Fireplace (living room) with wood stove
• Laundry & utility: Washer and dryer included; No basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $74k.

Deal economics

• At list price, monthly cash flow is $127 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($804 rent vs $74k).
• Cap rate 8.3% vs local median 2.9% 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 $514 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.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $74,451

Questions for the listing agent

1. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.08% ✓
• Cap rate: 8.33%
• Cash-on-cash: 7.29%
• DSCR: 1.32
• GRM: 7.7

CMA / ARV

• ARV (median comp): $100,948
• List price: $74,451
• Delta: -26.25%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5387 Deerwood Dr	0.30mi	1/1.0 (-1)	608 (+1%)	14mo	$56,180	$92	67
5341 Ferndale St	0.19mi	2/1.0	512 (-15%)	7mo	$88,000	$172	61
5067 Lake Point Dr	0.46mi	2/1.0	576 (-4%)	13mo	$70,000	$122	61
5374 Ferndale St	0.20mi	2/1.0	520 (-13%)	12mo	$59,500	$114	58
5049 Wedgewood Dr	0.57mi	1/1.0 (-1)	576 (-4%)	7mo	$99,000	$172	56
5102 Glenwood Dr	0.63mi	3/1.0 (+1)	612 (+2%)	8mo	$60,000	$98	55
4850 Lake Pointe Dr	0.54mi	2/1.0	612 (+2%)	21mo	$115,000	$188	54
5013 Woodsdale St	0.62mi	2/1.0	600 (0%)	24mo	$47,300	$79	51
4994 GLENWOOD Dr	0.64mi	2/1.0	672 (+12%)	17mo	$39,900	$59	36

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: -5.1%
• Equity multiple: 0.81×
• Total profit: $-3,990
• Equity at exit: $11,101

10-year hold

• IRR: 4.5%
• Equity multiple: 1.33×
• Total profit: $6,947
• Equity at exit: $6,437

Cash invested: $20,846 (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: 7.7×

Monthly cashflow live

• Estimated rent: $804 medium
• Mortgage (P&I): −$390
• Tax from tax record: −$87 /mo · $1,048/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$169
• Net cashflow: $127

Break-even live

Break-even rent $644

Max offer price $74,451

Occupancy floor 79%

Sensitivity live

Price	-10% $169	-5% $148	+0% $127	+5% $106	+10% $84
Rent	-10% $63	-5% $95	+0% $127	+5% $158	+10% $190
Rate	-1.0pp $164	-0.5pp $146	base $127	+0.5pp $107	+1.0pp $88

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: $18,613
• Closing costs: $2,234
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-18
   status Pending 942-char remark
2. 2026-05-11
   historical Accepting Backup Offers 942-char remark
3. 2026-05-04
   listed $74,451 Active 942-char remark

ⓘ 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: $1,048 · $87/mo
• Projected year-2 tax: $1,097 · $91/mo
• Expected delta: +$49/yr (+$4/mo · 4.7%)

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

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 ≥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: $9,652
• − Mortgage interest: −$4,170
• − Property taxes: −$1,048
• − Insurance: −$372
• − Repairs & maintenance: −$772
• − Management: −$772
• − Depreciation: −$2,166
• Taxable income: $351
• Est. tax owed @ 24.0%: −$84
• After-tax cash flow: $1,435/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

3 events — show timeline

• 2026-05-18 Pending — MiRealSource-MiMLS
• 2026-05-11 Contingent — MiRealSource-MiMLS
• 2026-05-04 Listed $74,451 MiRealSource-MiMLS

Property tax history

+4.1%/yr

Latest (2025): $1,048 · +13.8% YoY. Source: county tax records.