203 Fairview Blvd · Grant, MI 48622

$80,000

3 bd · 1.0 ba · 980 sqft · SingleFamily public records · 90 Days on market

Built 1993 0.61 ac lot $82/sqft · 40% below area Est $133k · 40% 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 +18.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.7/10.0
• 1% rule +4.9/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this 3-bedroom, 2-bath single-wide home nestled on a generous . 91-acre double lot in Farwell! Offering 980 sq ft of living space, with primary bedroom featuring private full bath plus additional two bedrooms and second full bath. Detached 1-car garage with a man cave setup-perfect for hobbies, hangouts, or extra storage. The fenced-in yard is great for pets, kids, or just enjoying the outdoors. There's plenty of room to spread out, garden, and more.

Key facts

• Double lot
• Fenced-in yard
• 0.61 acre lot

Tags

• DOUBLE LOT
• FENCED-IN YARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $71 ($850/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 $79k (1.3% below list).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 2.7% in Grant — 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 71/100 on livability (#291 in MI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Farwell Area Schools (town): math 24% / reading 34% proficiency, ranked #388 of 540 in MI (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 126 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 $553 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

• It's been on market 90 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $26k; list at $80k implies a 208% gain — meaningful room to come down on a strong offer.

Recommended offer $75,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.99% ✗
• Cap rate: 7.36%
• Cash-on-cash: 3.79%
• DSCR: 1.17
• GRM: 8.4

CMA / ARV

• ARV (median comp): $132,785
• List price: $80,000
• Delta: -39.75%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
103 W Ludington Dr	0.35mi	3/1.5	1,040 (+6%)	7mo	$161,753	$156	65
11255 Beaver Ave	0.51mi	3/1.5	1,008 (+3%)	13mo	$176,175	$175	59
609 E Main St	0.67mi	3/1.0	1,008 (+3%)	12mo	$115,750	$115	54
166 Merrill St	0.74mi	3/1.0	1,008 (+3%)	16mo	$106,000	$105	48

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: -10.3%
• Equity multiple: 0.62×
• Total profit: $-8,441
• Equity at exit: $11,928

10-year hold

• IRR: -1.0%
• Equity multiple: 0.93×
• Total profit: $-1,494
• Equity at exit: $6,917

Cash invested: $22,400 (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 48622

• Home prices YoY: -23.9%
• Active inventory: 126
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $789 medium
• Mortgage (P&I): −$420
• Tax est. 1.5%: −$100 /mo · $1,200/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$166
• Net cashflow: $71

Break-even live

Break-even rent $700

Max offer price $80,000

Occupancy floor 86%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $80,000 Active 90 DOM
2. 2026-06-17
   days on market $80,000 Active 89 DOM
3. 2026-06-16
   days on market $80,000 Active 88 DOM
4. 2026-06-15
   days on market $80,000 Active 87 DOM
5. 2026-06-13
   days on market $80,000 Active 85 DOM
6. 2026-06-12
   pricedays on market $80,000 Active 84 DOM
7. 2026-06-09
   days on market $82,999 Active 81 DOM
8. 2026-06-08
   days on market $82,999 Active 80 DOM
9. 2026-06-07
   days on market $82,999 Active 79 DOM
10. 2026-06-07
    days on market $82,999 Active 78 DOM
11. 2026-06-04
    days on market $82,999 Active 75 DOM
12. 2026-06-02
    days on market $82,999 Active 74 DOM
13. 2026-06-01
    days on market $82,999 Active 73 DOM
14. 2026-05-31
    days on market $82,999 Active 72 DOM
15. 2026-05-31
    days on market $82,999 Active 71 DOM
16. 2026-05-06
    price $82,999 466-char remark

    Show marketing remark (466 chars)

    Welcome to this 3-bedroom, 2-bath single-wide home nestled on a generous . 91-acre double lot in Farwell! Offering 980 sq ft of living space, with primary bedroom featuring private full bath plus additional two bedrooms and second full bath. Detached 1-car garage with a man cave setup-perfect for hobbies, hangouts, or extra storage. The fenced-in yard is great for pets, kids, or just enjoying the outdoors. There's plenty of room to spread out, garden, and more.

17. 2026-04-23
    price $85,999 466-char remark

    Show marketing remark (466 chars)

    Welcome to this 3-bedroom, 2-bath single-wide home nestled on a generous . 91-acre double lot in Farwell! Offering 980 sq ft of living space, with primary bedroom featuring private full bath plus additional two bedrooms and second full bath. Detached 1-car garage with a man cave setup-perfect for hobbies, hangouts, or extra storage. The fenced-in yard is great for pets, kids, or just enjoying the outdoors. There's plenty of room to spread out, garden, and more.

18. 2026-03-20
    listed $90,000 Active 466-char remark

    Show marketing remark (466 chars)

    Welcome to this 3-bedroom, 2-bath single-wide home nestled on a generous . 91-acre double lot in Farwell! Offering 980 sq ft of living space, with primary bedroom featuring private full bath plus additional two bedrooms and second full bath. Detached 1-car garage with a man cave setup-perfect for hobbies, hangouts, or extra storage. The fenced-in yard is great for pets, kids, or just enjoying the outdoors. There's plenty of room to spread out, garden, and more.

19. 2025-07-08
    listed $68,500 Active
20. 2014-09-08
    soldstatus $26,000

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥96°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: $9,474
• − Mortgage interest: −$4,481
• − Property taxes: −$1,200
• − Insurance: −$400
• − Repairs & maintenance: −$758
• − Management: −$758
• − Depreciation: −$2,327
• Taxable loss: −$451
• Est. tax savings @ 24.0%: +$108
• After-tax cash flow: $958/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: Farwell Area Schools
• NCES district ID: 2614100
• Math proficiency: 24% ▼ -8.00%
• Reading proficiency: 34% ▼ -8.00%
• Median HH income: $36,696
• Composite: 24.07/100
• National rank: #7760
• State rank: #388 of 540 in MI

Livability — Grant

• Score: 71/100
• State rank: #291
• US rank: #7290

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,970

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 (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 3% Black 1%
• Common ancestry: Romanian 5% Lithuanian 3% Iranian 2%
• Foreign-born: 0%
• Languages at home: 98% English-only · German/W. Germanic 2%

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: ▼ -71.95%
• Current HPI: 229.7867
• 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

+219.2% since first listed

5 events — show timeline

• 2026-05-06 Price Changed $82,999 REALCOMP
• 2026-04-23 Price Changed $85,999 REALCOMP
• 2026-03-20 Listed $90,000 REALCOMP
• 2025-07-08 Listed $68,500 REALCOMP
• 2014-09-08 Sold (Public Records) $26,000 Public Records

Property tax history

-1.4%/yr

Latest (2025): $65 · -74.3% YoY. Source: county tax records.