3707 TOWSLEY Ct · Secord, MI 48624

$89,900

3 bd · 1.0 ba · 924 sqft · SingleFamily · 49 Days on market

Built 1994 0.40 ac lot $97/sqft · 53% below area ↓ 31% since listing

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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
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

WATERFRONT well maintained three bedroom, family owned & maintained immaculate, updraded mobile home on a canal leading to Secord Lake, the lake level is expected to return in 2026. There is a 12 x 24 shed for your yard equipment and toys and 4 x8 tool sheds. Upgrades include All new windows, newer kitchen cabinets and countertop, newer vinyl flooring in the kitchen, utility area & bathroom which has a garden tub, and attractive newer kitchen & dining area light fixtures. Situated on a peaceful Cul-De-Sac with Great Neighbors.

Key facts

• 12 x 24 shed
• 4 x 8 tool sheds
• Waterfront

Tags

• WATERFRONT
• CANAL LEADING TO SECORD LAKE
• 12 X 24 SHED
• 4 X 8 TOOL SHEDS
• NEW WINDOWS
• NEWER KITCHEN CABINETS

Property features AI

Exterior

• Utilities: Shared private well water; Septic system; LP/propane gas
• Home design: Single-wide manufactured home; One-story
• Construction: Built in 1994; Piers foundation
• Exterior features: Vinyl siding; Waterfront property on Secord Lake; 110 feet frontage; Paved street access; Cul-de-sac lot

Interior

• Kitchen: Kitchen area approximately 10 x 12
• Bedrooms: Three bedrooms on the main level — 11 x 12, 10 x 12, and approximately 9 (W=9)
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Forced air heating; LP/propane gas fuel
• Interior features: Living room measuring 15 x 12; Located on a cul-de-sac; On waterfront (Secord Lake)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Gladwin Community Schools (town): math 28% / reading 51% proficiency, ranked #232 of 540 in MI (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 287 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 $622 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $87,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 2.23% ✓
• Cap rate: 19.84%
• Cash-on-cash: 48.40%
• DSCR: 3.15
• GRM: 3.7

CMA / ARV

• ARV (median comp): $192,402
• List price: $89,900
• Delta: -53.27%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
700 Whispering Pines Rd	0.06mi	2/2.0 (-1)	910 (-2%)	13mo	$80,000	$88	75
3796 Pinelands Point Rd	0.49mi	2/1.0 (-1)	920 (-0%)	20mo	$205,000	$223	54
3588 Pinelands Pt Rd	0.60mi	2/1.0 (-1)	864 (-6%)	11mo	$240,000	$278	47
3814 Pinelands Pt Rd	0.45mi	3/2.0	1,008 (+9%)	23mo	$290,000	$288	41

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: 45.9%
• Equity multiple: 2.99×
• Total profit: $50,094
• Equity at exit: $13,404

10-year hold

• IRR: 51.7%
• Equity multiple: 6.04×
• Total profit: $126,883
• Equity at exit: $7,773

Cash invested: $25,172 (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 48624

• Home prices YoY: -23.4%
• Active inventory: 287
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $2,009 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$63 /mo · $751/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $1,015

Break-even live

Break-even rent $723

Max offer price $89,900

Occupancy floor 44%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $89,900 Active 49 DOM
2. 2026-06-17
   days on market $89,900 Active 48 DOM
3. 2026-06-16
   days on market $89,900 Active 47 DOM
4. 2026-06-15
   days on market $89,900 Active 46 DOM
5. 2026-06-13
   days on market $89,900 Active 44 DOM
6. 2026-06-12
   days on market $89,900 Active 43 DOM
7. 2026-06-09
   days on market $89,900 Active 40 DOM
8. 2026-06-08
   days on market $89,900 Active 39 DOM
9. 2026-06-07
   days on market $89,900 Active 38 DOM
10. 2026-06-07
    days on market $89,900 Active 37 DOM
11. 2026-06-04
    days on market $89,900 Active 34 DOM
12. 2026-06-02
    days on market $89,900 Active 33 DOM
13. 2026-06-01
    days on market $89,900 Active 32 DOM
14. 2026-05-31
    days on market $89,900 Active 31 DOM
15. 2026-05-31
    days on market $89,900 Active 30 DOM
16. 2026-04-29
    listed $89,900 Active 551-char remark
17. 2025-12-13
    historical
18. 2025-06-12
    listed $89,900 Active
19. 2024-10-02
    historical
20. 2024-06-28
    price $99,900
21. 2024-05-10
    listed $129,900 Active

ⓘ 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: $751 · $63/mo
• Projected year-2 tax: $1,068 · $89/mo
• Expected delta: +$317/yr (+$26/mo · 42.2%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥95°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,103
• − Mortgage interest: −$5,036
• − Property taxes: −$751
• − Insurance: −$450
• − Repairs & maintenance: −$1,928
• − Management: −$1,928
• − Depreciation: −$2,615
• Taxable income: $11,394
• Est. tax owed @ 24.0%: −$2,735
• After-tax cash flow: $9,448/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: Gladwin Community Schools
• NCES district ID: 2615990
• Math proficiency: 28% ▼ -13.00%
• Reading proficiency: 51% ▼ -2.00%
• Median HH income: $38,917
• Composite: 32.93/100
• National rank: #5595
• State rank: #232 of 540 in MI

Livability — Secord

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 16,269

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 (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 8% Lithuanian 3% Iranian 3%
• Foreign-born: 1%
• Languages at home: 95% English-only · German/W. Germanic 4% Spanish 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: ▼ -72.67%
• Current HPI: 238.0744
• 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

-30.8% since first listed

6 events — show timeline

• 2026-04-29 Listed $89,900 MiRealSource-MiMLS
• 2025-12-13 Listing Removed — MiRealSource-MiMLS
• 2025-06-12 Listed $89,900 MiRealSource-MiMLS
• 2024-10-02 Listing Removed — MiRealSource-MiMLS
• 2024-06-28 Price Changed $99,900 MiRealSource-MiMLS
• 2024-05-10 Listed $129,900 MiRealSource-MiMLS

Property tax history

-7.3%/yr

Latest (2025): $751 · -52.4% YoY. Source: county tax records.