102 north St · Farwell, MI 48632

$62,500

1 bd · 1.0 ba · 638 sqft · Manufactured public records · 6 Days on market

Built 1979 9,147 sqft lot

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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
• DSCR +10.0/10.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• Livability +2.9/5.0
• 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

Fixer upper with so much potential located on a secluded 1 acre lot with lakeview at the end of the driveway and access to all sports Silver Lake right around the corner. Possible 2 bedroom 1 bath home with vinyl siding, propane, natural gas available, cable tv and internet available, with well, septic, and electric. Laundry room is located in the 24x24 detached insulated garage. Water heater is located in the bedroom upstairs. Large garden shed with fenced area perfect for a garden with netting above the garden to help keep the critters out. With some work this could be a perfect get away or year round home.

Key facts

• Fire pit
• Close to lake george
• 9,147 sq ft lot

Tags

• CLOSE TO LAKE GEORGE
• CLOSE TO ORV TRAIL HEAD
• FIRE PIT

Property features AI

Exterior

• Utilities: Private well water; Septic sewage
• Home design: Residential property; One-story structure; Built in 1979
• Construction: Cinder block exterior; Slab foundation; Built in 1979
• Exterior features: Cinder block construction; Frontage on a road; Approximately 0.21 acre lot with about 197' frontage

Interior

• Kitchen: Kitchen on main level, approximately 19 x 12, vinyl flooring
• Bedrooms: Primary bedroom on main level, approximately 18 x 12, vinyl flooring
• Flooring: Vinyl flooring in dining room and kitchen; Vinyl flooring in bedroom; Carpet in living room; Other flooring in sitting room
• Bathrooms: 1 full bathroom on main level
• Heating & cooling: Space heater; LP/Propane gas fuel
• Interior features: 5 total rooms; Sitting room on main level

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $62k.

Deal economics

• At list price, monthly cash flow is $236 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($782 rent vs $62k).

Location & tenants

• Location reads 58/100 on livability (#622 in MI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute 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.
• Zoned schools: Farwell Elementary School (math 32% / reading 27%, grade F, #866 of 1,397 statewide, top 65%, 329 students, 77% FRL); Farwell Middle School (math 25% / reading 33%, grade F, #355 of 493 statewide, top 72%, 300 students, 68% FRL).
• Market conditions: 95 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 $432 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 5y 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 $62,500

Questions for the listing agent

1. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.25% ✓
• Cap rate: 10.82%
• Cash-on-cash: 16.15%
• DSCR: 1.72
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 7.1%
• Equity multiple: 1.28×
• Total profit: $4,855
• Equity at exit: $9,319

10-year hold

• IRR: 16.4%
• Equity multiple: 2.34×
• Total profit: $23,468
• Equity at exit: $5,404

Cash invested: $17,500 (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: 95
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $782 medium
• Mortgage (P&I): −$328
• Tax from tax record: −$29 /mo · $343/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$164
• Net cashflow: $236

Break-even live

Break-even rent $484

Max offer price $62,500

Occupancy floor 65%

Sensitivity live

Price	-10% $271	-5% $253	+0% $236	+5% $218	+10% $200
Rent	-10% $174	-5% $205	+0% $236	+5% $266	+10% $297
Rate	-1.0pp $267	-0.5pp $251	base $236	+0.5pp $219	+1.0pp $203

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: $15,625
• Closing costs: $1,875
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-05-14
   listed $62,500 Active 600-char remark
2. 2021-08-06
   soldstatus $50,000 Closed 616-char remark

   Show marketing remark (616 chars)

   Fixer upper with so much potential located on a secluded 1 acre lot with lakeview at the end of the driveway and access to all sports Silver Lake right around the corner. Possible 2 bedroom 1 bath home with vinyl siding, propane, natural gas available, cable tv and internet available, with well, septic, and electric. Laundry room is located in the 24x24 detached insulated garage. Water heater is located in the bedroom upstairs. Large garden shed with fenced area perfect for a garden with netting above the garden to help keep the critters out. With some work this could be a perfect get away or year round home.

3. 2021-07-29
   soldstatus $50,000
4. 2021-07-19
   status Pending 616-char remark

   Show marketing remark (616 chars)

   Fixer upper with so much potential located on a secluded 1 acre lot with lakeview at the end of the driveway and access to all sports Silver Lake right around the corner. Possible 2 bedroom 1 bath home with vinyl siding, propane, natural gas available, cable tv and internet available, with well, septic, and electric. Laundry room is located in the 24x24 detached insulated garage. Water heater is located in the bedroom upstairs. Large garden shed with fenced area perfect for a garden with netting above the garden to help keep the critters out. With some work this could be a perfect get away or year round home.

5. 2021-07-01
   listed $54,900 Active 616-char remark

   Show marketing remark (616 chars)

   Fixer upper with so much potential located on a secluded 1 acre lot with lakeview at the end of the driveway and access to all sports Silver Lake right around the corner. Possible 2 bedroom 1 bath home with vinyl siding, propane, natural gas available, cable tv and internet available, with well, septic, and electric. Laundry room is located in the 24x24 detached insulated garage. Water heater is located in the bedroom upstairs. Large garden shed with fenced area perfect for a garden with netting above the garden to help keep the critters out. With some work this could be a perfect get away or year round home.

6. 2021-05-06
   soldstatus $31,000

   Show marketing remark (423 chars)

   Looking for a peaceful property on an acre of property. Features a 24 x 24 garage with water and heat. Home needs repair but does have working water, electric and septic. Located directly across the street from Beautiful Silver Lake. Lake is 54 acres about 52 feet deep. Silver Lake is known for great fishing. If an all sports lake is what you desire just minutes down the road is beautiful Lake George! Motivated Seller!

7. 2021-05-06
   soldstatus $31,000

   Show marketing remark (423 chars)

   Looking for a peaceful property on an acre of property. Features a 24 x 24 garage with water and heat. Home needs repair but does have working water, electric and septic. Located directly across the street from Beautiful Silver Lake. Lake is 54 acres about 52 feet deep. Silver Lake is known for great fishing. If an all sports lake is what you desire just minutes down the road is beautiful Lake George! Motivated Seller!

8. 2021-04-23
   listed $35,000

   Show marketing remark (423 chars)

   Looking for a peaceful property on an acre of property. Features a 24 x 24 garage with water and heat. Home needs repair but does have working water, electric and septic. Located directly across the street from Beautiful Silver Lake. Lake is 54 acres about 52 feet deep. Silver Lake is known for great fishing. If an all sports lake is what you desire just minutes down the road is beautiful Lake George! Motivated Seller!

ⓘ 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: $343 · $29/mo
• Projected year-2 tax: $653 · $54/mo
• Expected delta: +$310/yr (+$26/mo · 90.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,386
• − Mortgage interest: −$3,501
• − Property taxes: −$343
• − Insurance: −$312
• − Repairs & maintenance: −$751
• − Management: −$751
• − Depreciation: −$1,818
• Taxable income: $1,910
• Est. tax owed @ 24.0%: −$458
• After-tax cash flow: $2,368/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 — Farwell

• Score: 58/100
• State rank: #622
• US rank: #20973

Category grades

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

Schools grade is shown separately in the Schools card above.

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

+78.6% since first listed

10 events — show timeline

• 2026-06-17 Sold (MLS) $62,500 MiRealSource-MiMLS
• 2026-05-20 Pending — MiRealSource-MiMLS
• 2026-05-14 Listed $62,500 MiRealSource-MiMLS
• 2021-08-06 Sold (MLS) $50,000 MiRealSource-MiMLS
• 2021-07-29 Sold (Public Records) $50,000 Public Records
• 2021-07-19 Pending — MiRealSource-MiMLS
• 2021-07-01 Listed $54,900 MiRealSource-MiMLS
• 2021-05-06 Sold (Public Records) $31,000 Public Records
• 2021-05-06 Sold (MLS) $31,000 MiRealSource-MiMLS
• 2021-04-23 Listed $35,000 MiRealSource-MiMLS

Property tax history

-2.7%/yr

Latest (2025): $343 · -77.8% YoY. Source: county tax records.