8042 Harbour Dr · New Baltimore, MI 48023

$65,000

3 bd · 2.0 ba · 1,792 sqft · SingleFamily · 202 Days on market

Built 1998 Good condition 4,000 sqft lot $36/sqft · 84% below area $589/mo HOA · 37% of rent

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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 +28.2/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Livability +4.2/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to The Shores of Anchor Bay community! This well-maintained double-wide manufactured home offers 3 bedrooms and 2 full bathrooms, featuring a spacious living area perfect for relaxing or entertaining. The home is truly move-in ready with all appliances included, each less than three years old, and additional updates such as newer windows and an HVAC system under 10 years old. Outside, you'll find a convenient wood shed for extra storage. Lot rent is currently $589 and includes water and garbage pickup, with mailboxes located at the clubhouse for added convenience. Residents enjoy outstanding community amenities including a 24-hour fitness center, an outdoor pool with a large sunbathing deck, toddler pool, and a brand new playground with picnic area. Located within the Anchor Bay School District and just minutes from I-94, this home offers easy access to area activities including golf courses, restaurants, shopping, and the New Baltimore Beach. Schedule your showing today!

Key facts

• Outdoor pool
• Wood shed
• Spacious living area

Tags

• DOUBLE-WIDE MANUFACTURED HOME
• SPACIOUS LIVING AREA
• NEWER WINDOWS
• HVAC SYSTEM
• WOOD SHED
• OUTDOOR POOL

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $65k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $207 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 2.5% in New Baltimore — 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 85/100 on livability (#30 in MI, #597 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, cost of living A+; Watch: health & safety D+, amenities F.
• Anchor Bay School District (suburban): math 44% / reading 54% proficiency, ranked #91 of 540 in MI (top 17%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: 37 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 232 units permitted in St. Clair County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• St. Clair 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 $18k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 202 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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.

Risks & watch-outs

• Watch-outs: HOA is 37% of rent.

Recommended offer $57,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 202 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 2.42% ✓
• Cap rate: 10.11%
• Cash-on-cash: 13.62%
• DSCR: 1.61
• GRM: 3.4

CMA / ARV

• ARV (median comp): $396,329
• List price: $65,000
• Delta: -83.60%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7145 Payea Ct	0.25mi	3/2.0	1,967 (+10%)	22mo	$371,000	$189	54
6936 Church Rd	0.69mi	3/2.0	1,657 (-8%)	5mo	$286,300	$173	52
10520 Frontenay Ct	0.37mi	3/2.0	1,568 (-12%)	24mo	$142,000	$91	42

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: 4.3%
• Equity multiple: 1.17×
• Total profit: $3,010
• Equity at exit: $9,692

10-year hold

• IRR: 14.2%
• Equity multiple: 2.16×
• Total profit: $21,130
• Equity at exit: $5,620

Cash invested: $18,200 (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 48023

• Home prices YoY: -18.6%
• Active inventory: 37
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,576 medium
• Mortgage (P&I): −$341
• Tax est. 1.5%: −$81 /mo · $975/yr
• Insurance: −$27
• HOA: −$589
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $207

Break-even live

Break-even rent $1,314

Max offer price $65,000

Occupancy floor 82%

Sensitivity live

Price	-10% $251	-5% $229	+0% $207	+5% $184	+10% $162
Rent	-10% $82	-5% $144	+0% $207	+5% $269	+10% $331
Rate	-1.0pp $239	-0.5pp $223	base $207	+0.5pp $190	+1.0pp $173

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7061 Bethuy Rd Ira Township, MI	1.0–4.0	1.0–2.0	1204	$1,576	$1.31	4d	1	0.18mi

HOA detail

• Monthly dues: $589 · $7,068/yr
• Likely covers: watertrashpoolgym

Listing history 22 events

1. 2026-06-21
   days on market $65,000 Active 202 DOM
2. 2026-06-18
   days on market $65,000 Active 199 DOM
3. 2026-06-17
   days on market $65,000 Active 198 DOM
4. 2026-06-16
   days on market $65,000 Active 197 DOM
5. 2026-06-15
   days on market $65,000 Active 196 DOM
6. 2026-06-13
   days on market $65,000 Active 194 DOM
7. 2026-06-10
   listing id $65,000 Active 190 DOM
8. 2026-06-09
   remarks 699-char remark
9. 2026-06-09
   days on marketlisting id $65,000 Active 190 DOM
10. 2026-06-08
    days on market $65,000 Active 189 DOM
11. 2026-06-07
    days on market $65,000 Active 188 DOM
12. 2026-06-04
    days on market $65,000 Active 185 DOM
13. 2026-06-03
    days on market $65,000 Active 184 DOM
14. 2026-06-02
    days on market $65,000 Active 183 DOM
15. 2026-06-01
    days on market $65,000 Active 182 DOM
16. 2026-05-31
    days on market $65,000 Active 181 DOM
17. 2026-04-30
    status Active 994-char remark

    Show marketing remark (1001 chars)

    Welcome to The Shores of Anchor Bay community! This well-maintained double-wide manufactured home offers 3 bedrooms and 2 full bathrooms, featuring a spacious living area perfect for relaxing or entertaining. The home is truly move-in ready with all appliances included, each less than three years old, and additional updates such as newer windows and an HVAC system under 10 years old. Outside, you’ll find a convenient wood shed for extra storage. Lot rent is currently $589 and includes water and garbage pickup, with mailboxes located at the clubhouse for added convenience. Residents enjoy outstanding community amenities including a 24-hour fitness center, an outdoor pool with a large sunbathing deck, toddler pool, and a brand new playground with picnic area. Located within the Anchor Bay School District and just minutes from I-94, this home offers easy access to area activities including golf courses, restaurants, shopping, and the New Baltimore Beach. Schedule your showing today!

18. 2026-04-30
    status Active 1001-char remark

    Show marketing remark (1001 chars)

    Welcome to The Shores of Anchor Bay community! This well-maintained double-wide manufactured home offers 3 bedrooms and 2 full bathrooms, featuring a spacious living area perfect for relaxing or entertaining. The home is truly move-in ready with all appliances included, each less than three years old, and additional updates such as newer windows and an HVAC system under 10 years old. Outside, you’ll find a convenient wood shed for extra storage. Lot rent is currently $589 and includes water and garbage pickup, with mailboxes located at the clubhouse for added convenience. Residents enjoy outstanding community amenities including a 24-hour fitness center, an outdoor pool with a large sunbathing deck, toddler pool, and a brand new playground with picnic area. Located within the Anchor Bay School District and just minutes from I-94, this home offers easy access to area activities including golf courses, restaurants, shopping, and the New Baltimore Beach. Schedule your showing today!

19. 2026-04-15
    historical Accepting Backup Offers 994-char remark

    Show marketing remark (1001 chars)

    Welcome to The Shores of Anchor Bay community! This well-maintained double-wide manufactured home offers 3 bedrooms and 2 full bathrooms, featuring a spacious living area perfect for relaxing or entertaining. The home is truly move-in ready with all appliances included, each less than three years old, and additional updates such as newer windows and an HVAC system under 10 years old. Outside, you’ll find a convenient wood shed for extra storage. Lot rent is currently $589 and includes water and garbage pickup, with mailboxes located at the clubhouse for added convenience. Residents enjoy outstanding community amenities including a 24-hour fitness center, an outdoor pool with a large sunbathing deck, toddler pool, and a brand new playground with picnic area. Located within the Anchor Bay School District and just minutes from I-94, this home offers easy access to area activities including golf courses, restaurants, shopping, and the New Baltimore Beach. Schedule your showing today!

20. 2026-04-15
    historical Active Under Contract 1001-char remark

    Show marketing remark (1001 chars)

    Welcome to The Shores of Anchor Bay community! This well-maintained double-wide manufactured home offers 3 bedrooms and 2 full bathrooms, featuring a spacious living area perfect for relaxing or entertaining. The home is truly move-in ready with all appliances included, each less than three years old, and additional updates such as newer windows and an HVAC system under 10 years old. Outside, you’ll find a convenient wood shed for extra storage. Lot rent is currently $589 and includes water and garbage pickup, with mailboxes located at the clubhouse for added convenience. Residents enjoy outstanding community amenities including a 24-hour fitness center, an outdoor pool with a large sunbathing deck, toddler pool, and a brand new playground with picnic area. Located within the Anchor Bay School District and just minutes from I-94, this home offers easy access to area activities including golf courses, restaurants, shopping, and the New Baltimore Beach. Schedule your showing today!

21. 2025-12-01
    listed $65,000 Active 1001-char remark

    Show marketing remark (994 chars)

    Welcome to The Shores of Anchor Bay community! This well-maintained double-wide manufactured home offers 3 bedrooms and 2 full bathrooms, featuring a spacious living area perfect for relaxing or entertaining. The home is truly move-in ready with all appliances included, each less than three years old, and additional updates such as newer windows and an HVAC system under 10 years old. Outside, you'll find a convenient wood shed for extra storage. Lot rent is currently $589 and includes water and garbage pickup, with mailboxes located at the clubhouse for added convenience. Residents enjoy outstanding community amenities including a 24-hour fitness center, an outdoor pool with a large sunbathing deck, toddler pool, and a brand new playground with picnic area. Located within the Anchor Bay School District and just minutes from I-94, this home offers easy access to area activities including golf courses, restaurants, shopping, and the New Baltimore Beach. Schedule your showing today!

22. 2025-12-01
    listed $65,000 Active 994-char remark

    Show marketing remark (994 chars)

    Welcome to The Shores of Anchor Bay community! This well-maintained double-wide manufactured home offers 3 bedrooms and 2 full bathrooms, featuring a spacious living area perfect for relaxing or entertaining. The home is truly move-in ready with all appliances included, each less than three years old, and additional updates such as newer windows and an HVAC system under 10 years old. Outside, you'll find a convenient wood shed for extra storage. Lot rent is currently $589 and includes water and garbage pickup, with mailboxes located at the clubhouse for added convenience. Residents enjoy outstanding community amenities including a 24-hour fitness center, an outdoor pool with a large sunbathing deck, toddler pool, and a brand new playground with picnic area. Located within the Anchor Bay School District and just minutes from I-94, this home offers easy access to area activities including golf courses, restaurants, shopping, and the New Baltimore Beach. Schedule your showing today!

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,908
• − Mortgage interest: −$3,641
• − Property taxes: −$975
• − Insurance: −$325
• − Repairs & maintenance: −$1,513
• − Management: −$1,513
• − HOA: −$7,068
• − Depreciation: −$1,891
• Taxable income: $1,983
• Est. tax owed @ 24.0%: −$476
• After-tax cash flow: $2,003/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 · 12 photos

Good 75/100 Cosmetic rehab

This well-maintained double-wide manufactured home is move-in ready with all appliances included and recent updates. It offers a good condition with minor cosmetic improvements needed for optimal resale and rental value.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Both Replace ceiling tiles — Improves aesthetics and reduces maintenance costs

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Replace ceiling tiles — Improves aesthetics and reduces maintenance costs ↑

ⓘ 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: Anchor Bay School District
• NCES district ID: 2602790
• Math proficiency: 44% ▼ -12.00%
• Reading proficiency: 54% ▼ -7.00%
• Median HH income: $70,173
• Composite: 43.85/100
• National rank: #2925
• State rank: #91 of 540 in MI

Livability — New Baltimore

• Score: 85/100
• State rank: #30
• US rank: #597

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,980

Population outlook (St. Clair County) Hauer SSP2

• Today (2025): 154,587 people
• By 2030: 150,031 · -2.9%
• By 2040: 138,177 · -10.6%
• By 2050: 124,390 · -19.5%
• By 2075: 95,825 · -38.0%
• By 2100: 68,672 · -55.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Black 3%
• Common ancestry: Romanian 16% Lithuanian 7% Slovak 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Arabic 1%

Political lean MEDSL · St. Clair

• 2024 margin: Solid R (+34.6) · D 32.0% · R 66.6% · Other 1.4%
• 2008→2024 swing: -37.3pp toward R · 2008: 2.6pp · 2024: -34.6pp
• All cycles: 2024: R+34.6 2020: R+30.2 2016: R+31.4 2012: R+7.1 2008: D+2.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -45.80%
• Current HPI: 200.5277
• 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

+0.0% since first listed

6 events — show timeline

• 2026-04-30 Relisted — MiRealSource-MiMLS
• 2026-04-30 Relisted — REALCOMP
• 2026-04-15 Contingent — MiRealSource-MiMLS
• 2026-04-15 Contingent — REALCOMP
• 2025-12-01 Listed $65,000 REALCOMP
• 2025-12-01 Listed $65,000 MiRealSource-MiMLS