Real Estate Investing in Harrietta, Michigan (49638)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 49638 (Harrietta, MI)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 42.4% of homes vacant — above national norms.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Harrietta, MI (49638)?
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Market Analysis: 49638 Harrietta
This part of Wexford County is not an easy win. The 49638 ZIP clocks in at softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Rent of $1,026/mo on a $205K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 49638 sits below the stated 0.0% once reality is priced in.
On balance, 49638 offers a low basis, the region around Harrietta has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
The demographic picture in 49638 includes headwinds that any investor should price in. Income distribution skews lower than Harrietta averages, and tenant stability requires active management.
The right play in 49638 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Harrietta:
Market Trends
Home Value History (with trend line)
📊 How Does 49638 Compare?
| Metric | 49638 | Harrietta | Cadillac, MI | Michigan |
|---|---|---|---|---|
| Home Value | $204,922 | $204,922 | N/A | $253,279 |
| 5-Year CAGR | 6.6% | 6.6% | N/A | 6.8% |
| Avg Rent | $1,026 | $1,026 | 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 49638 (Harrietta, MI). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $204,922 |
| Monthly Rent | $1,026 |
| Price-to-Rent | 16.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.0% |
| Cap Rate | 3.9% |
| 5-Year IRR | 10.5% |
📈 Home Appreciation
| 1-Year | +9.5% ▲ |
| 3-Year CAGR | +6.2% ▲ |
| 5-Year CAGR | +6.6% ▲ |
| 10-Year CAGR | +13.0% ▲ |
🏠 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 49638
Population: 817
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
Frequently Asked Questions
How strong is the working-renter base in Harrietta, MI?
The renter base in Harrietta, MI is reasonable for the $1,026/mo price point. Screening well and pricing to market typically yields predictable tenants.
What is the rental occupancy rate in Harrietta, MI?
Harrietta, MI vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
How much does a house cost in Harrietta, MI?
In Harrietta, MI the median home value sits at $205K. Against the broader MI market, that reads as reasonable for most investors.
Is Harrietta, MI a friendly market for rental owners?
For rental operators, Harrietta, MI rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
How does Harrietta, MI stack up for property investment?
Yes - Harrietta, MI a 3.0/5 investability score. With $205K home prices against $1,026/mo monthly rent, the market delivers a reasonable entry point for new investors.
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