293 Birch St · Harrison, MI 48625

$69,000

4 bd · 1.0 ba · 1,110 sqft · SingleFamily public records · 108 Days on market

Built 1900 0.30 ac lot $62/sqft · 61% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Step back in time with this historic 4-bedroom home located within the city limits, offering timeless character and incredible potential. This property is ready for someone with vision to bring it back to life. Featuring four bedrooms, generous living areas, and classic architectural details, the home provides a solid foundation for restoration or renovation. Situated on a convenient in-town lot, the property also includes a 2-car detached garage for additional storage or workspace. While the home needs significant repairs and updates, it presents a fantastic opportunity for investors, renovators, or buyers looking to restore a piece of local history. With its prime location close to city amenities, schools, shopping, and dining, this property offers the chance to create something truly special. Bring your ideas and make this historic home shine again!

Key facts

• Prime location
• Historic home
• Detached garage

Tags

• HISTORIC HOME
• CLASSIC ARCHITECTURAL DETAILS
• CONVENIENT IN-TOWN LOT
• DETACHED GARAGE
• PRIME LOCATION

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $433 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Recommended offer: $63k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.8% vs local median 3.5% 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 $477 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 $19k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 22y ago; this cycle's ask has dropped $16k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $35k; list at $69k implies a 97% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $62,790 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 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 1900 — 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: 1.62% ✓
• Cap rate: 13.82%
• Cash-on-cash: 26.89%
• DSCR: 2.20
• GRM: 5.1

CMA / ARV

• ARV (median comp): $147,425
• List price: $69,000
• Delta: -53.20%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
832 Oaklawn St	0.25mi	3/1.5 (-1)	1,200 (+8%)	8mo	$175,000	$146	61
287 E Oak St	0.42mi	3/2.0 (-1)	1,188 (+7%)	1mo	$210,000	$177	59
128 Bond St	0.68mi	3/1.0 (-1)	1,056 (-5%)	1mo	$147,000	$139	54
520 S Wilson Rd	0.66mi	3/1.5 (-1)	1,155 (+4%)	21mo	$195,000	$169	38
621 S 4th St	0.67mi	3/2.0 (-1)	1,248 (+12%)	13mo	$200,000	$160	28

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: 20.8%
• Equity multiple: 1.85×
• Total profit: $16,396
• Equity at exit: $10,288

10-year hold

• IRR: 29.0%
• Equity multiple: 3.58×
• Total profit: $49,792
• Equity at exit: $5,966

Cash invested: $19,320 (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: 5.1×

Monthly cashflow live

• Estimated rent: $1,120 medium
• Mortgage (P&I): −$362
• Tax from tax record: −$61 /mo · $731/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$235
• Net cashflow: $433

Break-even live

Break-even rent $572

Max offer price $69,000

Occupancy floor 56%

Sensitivity live

Price	-10% $472	-5% $453	+0% $433	+5% $413	+10% $394
Rent	-10% $345	-5% $389	+0% $433	+5% $477	+10% $521
Rate	-1.0pp $468	-0.5pp $451	base $433	+0.5pp $415	+1.0pp $397

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Listing history 38 events

1. 2026-06-21
   days on market $69,000 Active 108 DOM
2. 2026-06-18
   days on market $69,000 Active 106 DOM
3. 2026-06-17
   days on market $69,000 Active 105 DOM
4. 2026-06-16
   days on market $69,000 Active 104 DOM
5. 2026-06-15
   days on market $69,000 Active 103 DOM
6. 2026-06-13
   days on market $69,000 Active 101 DOM
7. 2026-06-12
   days on market $69,000 Active 100 DOM
8. 2026-06-09
   days on market $69,000 Active 97 DOM
9. 2026-06-08
   days on market $69,000 Active 96 DOM
10. 2026-06-07
    days on market $69,000 Active 95 DOM
11. 2026-06-07
    days on market $69,000 Active 94 DOM
12. 2026-06-04
    days on market $69,000 Active 91 DOM
13. 2026-06-02
    days on market $69,000 Active 90 DOM
14. 2026-06-01
    days on market $69,000 Active 89 DOM
15. 2026-05-31
    days on market $69,000 Active 88 DOM
16. 2026-05-31
    days on market $69,000 Active 87 DOM
17. 2026-05-12
    price $69,000 864-char remark

    Show marketing remark (864 chars)

    Step back in time with this historic 4-bedroom home located within the city limits, offering timeless character and incredible potential. This property is ready for someone with vision to bring it back to life. Featuring four bedrooms, generous living areas, and classic architectural details, the home provides a solid foundation for restoration or renovation. Situated on a convenient in-town lot, the property also includes a 2-car detached garage for additional storage or workspace. While the home needs significant repairs and updates, it presents a fantastic opportunity for investors, renovators, or buyers looking to restore a piece of local history. With its prime location close to city amenities, schools, shopping, and dining, this property offers the chance to create something truly special. Bring your ideas and make this historic home shine again!

18. 2026-04-28
    price $74,500 864-char remark

    Show marketing remark (864 chars)

    Step back in time with this historic 4-bedroom home located within the city limits, offering timeless character and incredible potential. This property is ready for someone with vision to bring it back to life. Featuring four bedrooms, generous living areas, and classic architectural details, the home provides a solid foundation for restoration or renovation. Situated on a convenient in-town lot, the property also includes a 2-car detached garage for additional storage or workspace. While the home needs significant repairs and updates, it presents a fantastic opportunity for investors, renovators, or buyers looking to restore a piece of local history. With its prime location close to city amenities, schools, shopping, and dining, this property offers the chance to create something truly special. Bring your ideas and make this historic home shine again!

19. 2026-04-20
    price $79,000 864-char remark

    Show marketing remark (864 chars)

    Step back in time with this historic 4-bedroom home located within the city limits, offering timeless character and incredible potential. This property is ready for someone with vision to bring it back to life. Featuring four bedrooms, generous living areas, and classic architectural details, the home provides a solid foundation for restoration or renovation. Situated on a convenient in-town lot, the property also includes a 2-car detached garage for additional storage or workspace. While the home needs significant repairs and updates, it presents a fantastic opportunity for investors, renovators, or buyers looking to restore a piece of local history. With its prime location close to city amenities, schools, shopping, and dining, this property offers the chance to create something truly special. Bring your ideas and make this historic home shine again!

20. 2026-03-26
    price $84,500 864-char remark

    Show marketing remark (864 chars)

    Step back in time with this historic 4-bedroom home located within the city limits, offering timeless character and incredible potential. This property is ready for someone with vision to bring it back to life. Featuring four bedrooms, generous living areas, and classic architectural details, the home provides a solid foundation for restoration or renovation. Situated on a convenient in-town lot, the property also includes a 2-car detached garage for additional storage or workspace. While the home needs significant repairs and updates, it presents a fantastic opportunity for investors, renovators, or buyers looking to restore a piece of local history. With its prime location close to city amenities, schools, shopping, and dining, this property offers the chance to create something truly special. Bring your ideas and make this historic home shine again!

21. 2026-03-04
    listed $85,000 Active 864-char remark

    Show marketing remark (864 chars)

    Step back in time with this historic 4-bedroom home located within the city limits, offering timeless character and incredible potential. This property is ready for someone with vision to bring it back to life. Featuring four bedrooms, generous living areas, and classic architectural details, the home provides a solid foundation for restoration or renovation. Situated on a convenient in-town lot, the property also includes a 2-car detached garage for additional storage or workspace. While the home needs significant repairs and updates, it presents a fantastic opportunity for investors, renovators, or buyers looking to restore a piece of local history. With its prime location close to city amenities, schools, shopping, and dining, this property offers the chance to create something truly special. Bring your ideas and make this historic home shine again!

22. 2026-02-13
    historical
23. 2026-02-13
    historical
24. 2025-12-30
    listed $95,000 Active
25. 2025-12-29
    listed $95,000 Active
26. 2013-06-03
    soldstatus $35,000
27. 2012-08-27
    listed $42,000
28. 2009-03-13
    soldstatus $16,500
29. 2009-01-16
    listed $19,500
30. 2009-01-06
    listed $19,500
31. 2008-07-30
    historical
32. 2008-01-31
    listed $62,900
33. 2006-08-30
    historical
34. 2006-03-07
    listed $69,900
35. 2005-03-30
    soldstatus $30,800
36. 2005-02-23
    historical
37. 2004-11-23
    listed $29,900
38. 2004-11-23
    listed $29,900

ⓘ 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: $731 · $61/mo
• Projected year-2 tax: $897 · $75/mo
• Expected delta: +$166/yr (+$14/mo · 22.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥94°F today · 15 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: $13,436
• − Mortgage interest: −$3,865
• − Property taxes: −$731
• − Insurance: −$345
• − Repairs & maintenance: −$1,075
• − Management: −$1,075
• − Depreciation: −$2,007
• Taxable income: $4,337
• Est. tax owed @ 24.0%: −$1,041
• After-tax cash flow: $4,155/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

• Census place: Harrison, MI
• 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

+130.8% since first listed

22 events — show timeline

• 2026-05-12 Price Changed $69,000 MiRealSource-MiMLS
• 2026-04-28 Price Changed $74,500 MiRealSource-MiMLS
• 2026-04-20 Price Changed $79,000 MiRealSource-MiMLS
• 2026-03-26 Price Changed $84,500 MiRealSource-MiMLS
• 2026-03-04 Listed $85,000 MiRealSource-MiMLS
• 2026-02-13 Listing Removed — REALCOMP
• 2026-02-13 Listing Removed — MiRealSource-MiMLS
• 2025-12-30 Listed $95,000 REALCOMP
• 2025-12-29 Listed $95,000 MiRealSource-MiMLS
• 2013-06-03 Sold (Public Records) $35,000 Public Records
• 2012-08-27 Listed $42,000 MiRealSource-MiMLS
• 2009-03-13 Sold (MLS) $16,500 SW Michigan MLS
• 2009-01-16 Listed $19,500 SW Michigan MLS
• 2009-01-06 Listed $19,500 MiRealSource-MiMLS
• 2008-07-30 Listing Removed — MiRealSource-MiMLS
• 2008-01-31 Listed $62,900 MiRealSource-MiMLS
• 2006-08-30 Listing Removed — MiRealSource-MiMLS
• 2006-03-07 Listed $69,900 MiRealSource-MiMLS
• 2005-03-30 Sold (MLS) $30,800 MiRealSource-MiMLS
• 2005-02-23 Listing Removed — MiRealSource-MiMLS
• 2004-11-23 Listed $29,900 MiRealSource-MiMLS
• 2004-11-23 Listed $29,900 MiRealSource-MiMLS

Property tax history

-1.0%/yr

Latest (2025): $731 · -27.0% YoY. Source: county tax records.