2221 Grass Lake Ave #285 · Freeman, MI 48632

$69,900

1 bd · 1.0 ba · 618 sqft · SingleFamily · 35 Days on market

Built 2004 Fair condition 10,018 sqft lot $113/sqft · at area comps Est $69k · at est.

---

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 +23.8/30.0
• DSCR +7.7/10.0
• ARV discount +7.1/15.0
• 1% rule +6.2/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Schools +2.4/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Sandy Shores offers year round camping, Two (2) private lakes, no gas engines. Grass Lake has a large beach area, boat launch and two fishing docks. Loon Landing has a large fishing dock. Water and electricity at each site, this site has sewer while others get pumped twice weekly, dumping station, Year Round Maintenance Staff, Two (2) bathhouses with showers. One that is heated and open year round, large Pavilion with full kitchen and covered porch is available, Putt Putt Golf, Basketball/Pickleball Court, Baseball Diamond, Soccer Field, Disc Golf, Hiking trails, Horseshoe pits, Cornhole and many activities planned. https://sandyshoresresort.org/

Key facts

• Large beach area
• Boat launch
• Private lakes

Tags

• PRIVATE LAKES
• LARGE BEACH AREA
• BOAT LAUNCH
• FISHING DOCKS
• YEAR ROUND MAINTENANCE STAFF
• BATHHOUSES WITH SHOWERS

Property features AI

Finance

• HOA & community: Pet-friendly community; Trails

Exterior

• Utilities: LP/Propane gas heating fuel; Community well water; Septic system
• Home design: Manufactured residential home; Built in 2004; Unit/Building number 285; Located in Sandy Shore Resort subdivision
• Construction: Vinyl siding; Slab foundation
• Exterior features: Patio; Shed (outbuilding); No-wake interior lake frontage

Interior

• Kitchen: Microwave; Range/Oven; Refrigerator
• Bedrooms: Main-level bedroom (approx. 6 x 8)
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Forced air heating; Ceiling fan(s)
• Interior features: Window treatments

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $70k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $134 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($781 rent vs $70k).
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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: 92 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 $483 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 35 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.

Recommended offer $67,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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: 1.12% ✓
• Cap rate: 8.59%
• Cash-on-cash: 8.22%
• DSCR: 1.37
• GRM: 7.5

CMA / ARV

• ARV (median comp): $69,283
• List price: $69,900
• Delta: 0.89%
• Verdict: FAIR
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -3.8%
• Equity multiple: 0.86×
• Total profit: $-2,778
• Equity at exit: $10,422

10-year hold

• IRR: 5.9%
• Equity multiple: 1.44×
• Total profit: $8,622
• Equity at exit: $6,044

Cash invested: $19,572 (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 48632

• Home prices YoY: -27.9%
• Active inventory: 92
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $781 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$87 /mo · $1,048/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$164
• Net cashflow: $134

Break-even live

Break-even rent $611

Max offer price $69,900

Occupancy floor 78%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $69,900 Active 35 DOM
2. 2026-06-17
   days on market $69,900 Active 34 DOM
3. 2026-06-16
   days on market $69,900 Active 33 DOM
4. 2026-06-15
   days on market $69,900 Active 32 DOM
5. 2026-06-13
   days on market $69,900 Active 30 DOM
6. 2026-06-12
   days on market $69,900 Active 29 DOM
7. 2026-06-09
   days on market $69,900 Active 26 DOM
8. 2026-06-08
   days on market $69,900 Active 25 DOM
9. 2026-06-07
   days on market $69,900 Active 24 DOM
10. 2026-06-07
    days on market $69,900 Active 23 DOM
11. 2026-06-04
    days on market $69,900 Active 20 DOM
12. 2026-06-02
    days on market $69,900 Active 19 DOM
13. 2026-06-01
    days on market $69,900 Active 18 DOM
14. 2026-05-31
    days on market $69,900 Active 17 DOM
15. 2026-05-31
    days on market $69,900 Active 16 DOM
16. 2026-05-14
    listed $69,900 Active 654-char remark

ⓘ 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 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥95°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: $9,374
• − Mortgage interest: −$3,915
• − Property taxes: −$1,048
• − Insurance: −$350
• − Repairs & maintenance: −$750
• − Management: −$750
• − Depreciation: −$2,033
• Taxable income: $527
• Est. tax owed @ 24.0%: −$126
• After-tax cash flow: $1,482/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.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

The home requires moderate updates to kitchen and exterior, with potential for significant value increase through modernization and curb appeal improvements.

Repairs flagged

• Minor kitchen cabinets — slight wear
• Minor bathroom cabinets — slight wear
• Moderate exterior siding — moderate wear

Value-add opportunities

• Resale update kitchen cabinets and countertops — modernizing the kitchen
• Resale paint interior walls — refreshing the interior
• Resale replace dated wallpaper — modernizing the interior
• Resale update exterior siding — enhancing curb appeal
• Resale landscaping improvements — enhancing curb appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · slight wear	Minor	$500–3,000
bathroom cabinets · slight wear	Minor	$500–3,000
exterior siding · moderate wear	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$4,000–21,000

Value-add ROI direction

• Resale update kitchen cabinets and countertops — modernizing the kitchen ↑
• Resale paint interior walls — refreshing the interior ↑
• Resale replace dated wallpaper — modernizing the interior ↑
• Resale update exterior siding — enhancing curb appeal ↑
• Resale landscaping improvements — enhancing curb appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Freeman

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

Census & demographics

• Population (ZIP): 4,995

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 4%
• Common ancestry: Romanian 7% Lithuanian 3% Slovak 2%
• Foreign-born: 2% · Canada, China, South Korea
• Languages at home: 95% English-only · German/W. Germanic 2% Spanish 1% Chinese 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: ▼ -90.83%
• Current HPI: 234.5118
• 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

1 event — show timeline

• 2026-05-14 Listed $69,900 MiRealSource-MiMLS