Real Estate Investing in Fair Haven, Michigan (48023)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 48023 (Fair Haven, MI)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- Elevated vacancy: 10.9% vacancy may signal weakening demand.
- Flat appreciation: Values have barely moved over 5 years (0.2% CAGR).
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Fair Haven, MI (48023)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 48023 Fair Haven
ZIP 48023 inside Saint Clair County looks affordable on the surface — median value of $276K — but the discount exists for reasons that a careful buyer should understand before committing.
Distressed markets are won on execution, not on spreadsheets. ZIP 48023 shows the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Regionally, 48023 sits on the difficult end of the MI spectrum. The worth a close look for read — for disciplined operators — is that pricing reflects the difficulty.
Employment concentration in 48023 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Experienced landlords with local relationships tend to find 48023 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Fair Haven:
Property Strategy for 48023
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $239,835 | $1,520 | 4.6% | — | $119,918 |
| 3BR | $327,878 | $1,860 | 4.1% | +4.6% | $109,293 |
| 4BR | $414,936 | $2,010 | 3.5% | +4.6% | $103,734 |
Market Trends
Home Value History (with trend line)
📊 How Does 48023 Compare?
| Metric | 48023 | Fair Haven | Detroit-Warren-Dearborn, MI | Michigan |
|---|---|---|---|---|
| Home Value | $275,715 | $275,715 | N/A | $253,279 |
| 5-Year CAGR | 0.2% | 0.2% | N/A | 6.8% |
| Avg Rent | $1,368 | $1,368 | N/A | - |
| Cap Rate | 3.9% | 3.9% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 48023 (Fair Haven, MI). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $275,715 |
| Monthly Rent | $1,368 |
| Price-to-Rent | 16.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.0% |
| Cap Rate | 3.9% |
| 5-Year IRR | 4.1% |
📈 Home Appreciation
| 1-Year | +3.8% ▲ |
| 3-Year CAGR | +0.8% ▲ |
| 5-Year CAGR | +0.2% ▲ |
| 10-Year CAGR | +1.5% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.9%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 48023
Population: 4,980
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 48023
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
What is the typical home price in Fair Haven, MI?
Homes in Fair Haven, MI typically sell near $276K. Prices have moved at a 0.0% 5-year CAGR, which reliable long-term demand.
Do rentals sit vacant long in Fair Haven, MI?
Rental vacancy in Fair Haven, MI is elevated. Investors should budget normal turnover but not chronic empty units.
Is the tenant base reliable in Fair Haven, MI?
Tenant demand in Fair Haven, MI is solid. The local workforce $1,368/mo rents across most rental classes.
How landlord-friendly is Fair Haven, MI?
The landlord environment in Fair Haven, MI is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
What do rentals go for in Fair Haven, MI?
Average rent in Fair Haven, MI is approximately $1,368/mo per month. Against $276K home values that yields a reasonable rent-to-price ratio.
You know 48023 now. You don’t know where it ranks.
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How 48023 ranks in Detroit-Warren-Dearborn, MI
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