2988 W Snover Rd · Fremont, MI 48744

$59,000

3 bd · 2.0 ba · 1,290 sqft · SingleFamily public records · 234 Days on market

Built 1973 1.03 ac lot $46/sqft · 62% 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 +3.7/5.0
• 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

Investment Opportunity – 2988 Snover Rd | 3 Bed, 2 Bath on 1.03 Acres Excellent opportunity for investors, flippers, or handy buyers looking to add value! This 3-bedroom, 2-bath manufactured home sits on a 1.03-acre lot along paved Snover Road, surrounded by mature trees and natural foliage that provide great privacy. The home needs some TLC but has solid potential as a rental, resale, or affordable country residence. The property includes three outbuildings - two storage sheds and a chicken coop - offering additional utility and storage space. Currently off-grid: power service is not active, but a generator can be provided for inspection. With the acreage, location, and outbuildings already in place, this property provides a great foundation for your next project. Highlights: 3 Bedrooms, 2 Bathrooms 1.03-Acre Private Lot with Mature Trees Two Sheds + Chicken Coop Located on Paved Road

Key facts

• Paved road
• Mature trees
• Two sheds

Tags

• 1.03 ACRE PRIVATE LOT
• MATURE TREES
• TWO SHEDS
• CHICKEN COOP
• PAVED ROAD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $59k.

Deal economics

• At list price, monthly cash flow is $494 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).
• Recommended offer: $52k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.3% vs local median 2.0% in Fremont — 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 74/100 on livability (#183 in MI, #4,645 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, amenities F, commute F.
• Mayville Community School District (rural): math 27% / reading 33% proficiency, ranked #363 of 540 in MI (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 32 active listings in the ZIP; 56 units permitted in Tuscola County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $408 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Tuscola County population projected at -29% 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 $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 234 days — a 12% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 24y ago; this cycle's ask has dropped $10k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $38k; list at $59k implies a 53% gain — meaningful room to come down on a strong offer.

Recommended offer $51,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 234 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — 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. 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: 1.81% ✓
• Cap rate: 16.34%
• Cash-on-cash: 35.89%
• DSCR: 2.60
• GRM: 4.6

CMA / ARV

• ARV (median comp): $119,209
• List price: $59,000
• Delta: -50.51%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 31.6%
• Equity multiple: 2.33×
• Total profit: $21,892
• Equity at exit: $8,797

10-year hold

• IRR: 38.7%
• Equity multiple: 4.60×
• Total profit: $59,509
• Equity at exit: $5,101

Cash invested: $16,520 (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 48744

• Home prices YoY: -11.9%
• Active inventory: 32
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,067 medium
• Mortgage (P&I): −$309
• Tax from tax record: −$15 /mo · $181/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $494

Break-even live

Break-even rent $442

Max offer price $59,000

Occupancy floor 49%

Sensitivity live

Price	-10% $528	-5% $511	+0% $494	+5% $477	+10% $461
Rent	-10% $410	-5% $452	+0% $494	+5% $536	+10% $578
Rate	-1.0pp $524	-0.5pp $509	base $494	+0.5pp $479	+1.0pp $463

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-01
   status $59,000 Pending 234 DOM
2. 2026-06-01
   days on market $59,000 Active 234 DOM
3. 2026-05-31
   days on market $59,000 Active 233 DOM
4. 2026-05-31
   days on market $59,000 Active 232 DOM
5. 2026-03-03
   price $59,000 921-char remark

   Show marketing remark (921 chars)

   Investment Opportunity – 2988 Snover Rd | 3 Bed, 2 Bath on 1.03 Acres Excellent opportunity for investors, flippers, or handy buyers looking to add value! This 3-bedroom, 2-bath manufactured home sits on a 1.03-acre lot along paved Snover Road, surrounded by mature trees and natural foliage that provide great privacy. The home needs some TLC but has solid potential as a rental, resale, or affordable country residence. The property includes three outbuildings — two storage sheds and a chicken coop — offering additional utility and storage space. Currently off-grid: power service is not active, but a generator can be provided for inspection. With the acreage, location, and outbuildings already in place, this property provides a great foundation for your next project. Highlights: 3 Bedrooms, 2 Bathrooms 1.03-Acre Private Lot with Mature Trees Two Sheds + Chicken Coop Located on Paved Road

6. 2026-03-03
   price $59,000 921-char remark

   Show marketing remark (921 chars)

   Investment Opportunity – 2988 Snover Rd | 3 Bed, 2 Bath on 1.03 Acres Excellent opportunity for investors, flippers, or handy buyers looking to add value! This 3-bedroom, 2-bath manufactured home sits on a 1.03-acre lot along paved Snover Road, surrounded by mature trees and natural foliage that provide great privacy. The home needs some TLC but has solid potential as a rental, resale, or affordable country residence. The property includes three outbuildings — two storage sheds and a chicken coop — offering additional utility and storage space. Currently off-grid: power service is not active, but a generator can be provided for inspection. With the acreage, location, and outbuildings already in place, this property provides a great foundation for your next project. Highlights: 3 Bedrooms, 2 Bathrooms 1.03-Acre Private Lot with Mature Trees Two Sheds + Chicken Coop Located on Paved Road

7. 2025-10-09
   listed $69,000 Active 921-char remark

   Show marketing remark (921 chars)

   Investment Opportunity – 2988 Snover Rd | 3 Bed, 2 Bath on 1.03 Acres Excellent opportunity for investors, flippers, or handy buyers looking to add value! This 3-bedroom, 2-bath manufactured home sits on a 1.03-acre lot along paved Snover Road, surrounded by mature trees and natural foliage that provide great privacy. The home needs some TLC but has solid potential as a rental, resale, or affordable country residence. The property includes three outbuildings - two storage sheds and a chicken coop - offering additional utility and storage space. Currently off-grid: power service is not active, but a generator can be provided for inspection. With the acreage, location, and outbuildings already in place, this property provides a great foundation for your next project. Highlights: 3 Bedrooms, 2 Bathrooms 1.03-Acre Private Lot with Mature Trees Two Sheds + Chicken Coop Located on Paved Road

8. 2025-10-09
   listed $69,000 Active 921-char remark

   Show marketing remark (921 chars)

   Investment Opportunity – 2988 Snover Rd | 3 Bed, 2 Bath on 1.03 Acres Excellent opportunity for investors, flippers, or handy buyers looking to add value! This 3-bedroom, 2-bath manufactured home sits on a 1.03-acre lot along paved Snover Road, surrounded by mature trees and natural foliage that provide great privacy. The home needs some TLC but has solid potential as a rental, resale, or affordable country residence. The property includes three outbuildings - two storage sheds and a chicken coop - offering additional utility and storage space. Currently off-grid: power service is not active, but a generator can be provided for inspection. With the acreage, location, and outbuildings already in place, this property provides a great foundation for your next project. Highlights: 3 Bedrooms, 2 Bathrooms 1.03-Acre Private Lot with Mature Trees Two Sheds + Chicken Coop Located on Paved Road

9. 2003-07-14
   soldstatus $38,500
10. 2003-05-28
    soldstatus $38,500
11. 2002-12-12
    listed $44,900

ⓘ 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: $181 · $15/mo
• Projected year-2 tax: $545 · $45/mo
• Expected delta: +$364/yr (+$30/mo · 200.6%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,809
• − Mortgage interest: −$3,305
• − Property taxes: −$181
• − Insurance: −$295
• − Repairs & maintenance: −$1,025
• − Management: −$1,025
• − Depreciation: −$1,716
• Taxable income: $5,262
• Est. tax owed @ 24.0%: −$1,263
• After-tax cash flow: $4,667/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: Mayville Community School District
• NCES district ID: 2623280
• Math proficiency: 27% ▲ 1.00%
• Reading proficiency: 33% ▼ -3.00%
• Median HH income: $45,303
• Composite: 25.73/100
• National rank: #7379
• State rank: #363 of 540 in MI

Livability — Fremont

• Score: 74/100
• State rank: #183
• US rank: #4645

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 12,079
• Population (ZIP): 4,387

Population outlook (Tuscola County) Hauer SSP2

• Today (2025): 49,930 people
• By 2030: 47,294 · -5.3%
• By 2040: 41,504 · -16.9%
• By 2050: 35,560 · -28.8%
• By 2075: 24,455 · -51.0%
• By 2100: 16,507 · -66.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Romanian 5% Slovak 3% Lithuanian 3%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 2% Tagalog/Filipino 1%

Political lean MEDSL · Tuscola

• 2024 margin: Solid R (+43.0) · D 27.9% · R 70.9% · Other 1.3%
• 2008→2024 swing: -42.1pp toward R · 2008: -0.8pp · 2024: -43.0pp
• All cycles: 2024: R+43.0 2020: R+39.3 2016: R+38.0 2012: R+10.8 2008: R+0.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -37.01%
• Current HPI: 274.1836
• 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

+31.4% since first listed

7 events — show timeline

• 2026-03-03 Price Changed $59,000 MiRealSource-MiMLS
• 2026-03-03 Price Changed $59,000 REALCOMP
• 2025-10-09 Listed $69,000 REALCOMP
• 2025-10-09 Listed $69,000 MiRealSource-MiMLS
• 2003-07-14 Sold (MLS) $38,500 REALCOMP
• 2003-05-28 Sold (Public Records) $38,500 Public Records
• 2002-12-12 Listed $44,900 REALCOMP

Property tax history

-10.7%/yr

Latest (2025): $181 · -80.2% YoY. Source: county tax records.