Real Estate Investing in Harsens Island, Michigan (48028)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 48028 (Harsens Island, MI)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 67.3% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 26.6 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Harsens Island, MI (48028)?
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Market Analysis: 48028 Harsens Island
The 48028 ZIP in Harsens Island, MI is a local-operator market. Outside capital chasing a $330K entry has to pair deep knowledge with the discount.
The investment case in 48028 is notable only for operators who understand what they are buying. A $330K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
In the broader MI picture, 48028 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Employment concentration in 48028 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Strategy in 48028 is an operator game, not a passive one. Put differently, entry prices of $330K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Harsens Island:
Property Strategy for 48028
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $272,609 | $1,150 | 3.0% | +6.2% | $136,304 |
| 3BR | $378,446 | $1,400 | 2.7% | +4.9% | $126,149 |
| 4BR | $490,745 | $1,520 | 2.2% | — | $122,686 |
Market Trends
Home Value History (with trend line)
📊 How Does 48028 Compare?
| Metric | 48028 | Harsens Island | Michigan |
|---|---|---|---|
| Home Value | $330,393 | $330,393 | $253,279 |
| 5-Year CAGR | 3.1% | 3.1% | 6.8% |
| Avg Rent | $1,035 | $1,035 | - |
| Cap Rate | 2.4% | 2.4% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 48028 (Harsens Island, MI). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $330,393 |
| Monthly Rent | $1,035 |
| Price-to-Rent | 26.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.8% |
| Cap Rate | 2.4% |
| 5-Year IRR | 5.6% |
📈 Home Appreciation
| 1-Year | +6.4% ▲ |
| 3-Year CAGR | +4.0% ▲ |
| 5-Year CAGR | +3.1% ▲ |
| 10-Year CAGR | +5.6% ▲ |
🏠 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 (2.4%). 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 48028
Population: 1,058
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
🎓 Nearby Colleges & Universities
Frequently Asked Questions
Is housing expensive in Harsens Island, MI?
Harsens Island, MI median home values land near $330K. That is reasonable territory for investors looking at $1,035/mo-per-month rentals.
How strong is the working-renter base in Harsens Island, MI?
Tenant demand in Harsens Island, MI is solid. The local workforce $1,035/mo rents across most rental classes.
How landlord-friendly is Harsens Island, MI?
The landlord environment in Harsens Island, MI is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
Is house hacking profitable in Harsens Island, MI?
House hacking works a challenging in Harsens Island, MI. Rents of $1,035/mo against $330K acquisition make the strategy solid for owner-occupants.
Is real estate in Harsens Island, MI a good investment right now?
Harsens Island, MI scores 3.0/5 for investability. Home values sit at $330K and rents near $1,035/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
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