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46 E Clarence Rd
Harrison, MI

46 E Clarence Rd

$423,900
2 bd • 1.5 ba • 974 sf

This analysis was generated by artificial intelligence on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

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AI Property Analysis

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List Price

$423,900

Price/Sq.Ft

$435

Year Built

1953

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

This property offers an exceptional 135 acres of land, priced at just $3,140 per acre, which is significantly below the average land value in Clare County. The L-shaped corner lot provides extensive frontage on both Clarence and Coolidge Roads, enhancing accessibility and potential for development. The property's location just outside Harrison city limits offers a perfect balance of privacy and convenience, with easy access to amenities. The diverse landscape, including rolling hills, evergreen and deciduous trees, and driving trails, provides multiple possibilities for land use. The presence of a stream, noted as a watering hole for large bucks, adds value for hunting enthusiasts. The property's proximity to numerous lakes (20 lakes within 20 minutes) and recreational areas like Wilson State Park and various golf courses significantly enhances its appeal for both permanent residence and vacation use. The easy access to major roads (I-127, M-10, M-115) increases the property's connectivity to larger cities and attractions.

The Bad

The existing home, built in 1953, is described as a "fixer-upper," indicating potential significant renovation costs. At 974 square feet, the house is considerably smaller than the average American home (about 2,261 sq ft as of 2020). The property has only 2 bedrooms and 1.5 bathrooms, which may be limiting for many buyers. The price per square foot for the house ($435.22) is high considering its condition and the rural location, suggesting that most of the value is in the land. The property uses a propane heating system, which can be more expensive to operate than natural gas. The minimal utilities and systems mentioned (only listing refrigerator, oven/range, and electric water heater) suggest potential needs for significant updates or additions to make the home comfortable by modern standards.

The Ugly

The major fire risk (5/10) is a significant concern, especially given the extensive wooded areas on the property. This high fire risk could lead to substantially increased insurance costs and potential difficulties in obtaining coverage. The age of the home (70 years old) suggests likely needs for major system replacements, including plumbing, electrical, and HVAC, which could easily total $30,000-$50,000 or more. The property's vast size (135 acres) comes with substantial maintenance responsibilities and potential tax implications. Property taxes in Michigan are generally high, and with such a large acreage, the annual tax bill could be significant. The disclaimer about property boundaries and acreage in the listing raises concerns about potential boundary disputes or discrepancies in the actual land area. The rural location, while offering privacy, may present challenges in terms of internet connectivity, cell phone coverage, and access to emergency services.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

This property is ideal for buyers with a vision for large-scale land use, such as: 1. Developers looking for a substantial parcel with potential for subdivision or commercial development. 2. Conservation-minded individuals or organizations interested in land preservation. 3. Hunting enthusiasts or outdoor recreation businesses seeking to create a private hunting reserve or eco-tourism destination. 4. Investors looking for long-term land appreciation in a growing recreational area. 5. Self-sufficient lifestyle enthusiasts interested in farming, ranching, or off-grid living. 6. Wealthy individuals seeking a vast private retreat with the option to build a custom home. The property would suit buyers with a household income of $150,000+ annually, considering potential development costs, property taxes, and maintenance expenses for such a large parcel.

Not For

This property is not suitable for: 1. First-time homebuyers or those with limited budgets, due to the potential high costs of renovations and land maintenance. 2. Buyers seeking a move-in ready home, as the existing structure requires significant updates. 3. Those looking for a typical suburban lifestyle with close neighbors and readily available amenities. 4. Individuals uncomfortable with the responsibilities and challenges of managing a large land parcel. 5. Buyers sensitive to fire risks or unwilling to invest in extensive fire prevention measures. 6. Those seeking a quick flip or immediate rental income, as the property would require substantial investment before becoming profitable. 7. Families needing a larger home with more bedrooms and modern amenities, unless they're prepared to build new or extensively renovate.
Demographics
Area Median Income

$0

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Risk Assessment

Climate Risks

fireMAJOR

Insurance: Required

airMINOR

1 bad air quality days per year

floodMINIMAL

FEMA Zone: X_UNSHADED

Insurance: Optional

heatMINIMAL

7 extreme heat days per year

98th percentile: 93°F

windMINIMAL

Insurance: Optional

Risk Analysis

1. Fire Risk: The major fire risk (5/10) is a critical concern, potentially leading to high insurance premiums and requiring significant investment in fire prevention and mitigation strategies. 2. Property Boundary Uncertainty: The disclaimer about maps and acreage not being guaranteed raises risks of boundary disputes and potential loss of usable land. 3. Zoning and Development Restrictions: Given its location just outside city limits, there may be complex zoning laws affecting potential development or use of the land. 4. Environmental Concerns: With 135 acres including a stream, there could be wetland areas or protected species, potentially limiting development options. 5. Infrastructure Costs: Developing or improving such a large property could involve significant costs for road construction, utility installation, and other necessary infrastructure. 6. Market Liquidity: Large, unique properties like this can be challenging to resell, potentially leading to extended time on market if resale is needed. 7. Tax Implications: Large acreage could lead to high property taxes, and any change in use or development could trigger reassessment. 8. Maintenance Costs: Managing 135 acres requires significant ongoing expenses for equipment, labor, and materials. 9. Climate Change Impact: Long-term climate shifts could affect the property's ecosystem, potentially changing its character and usability over time. 10. Regulatory Changes: Future changes in local or state regulations regarding land use, hunting, or development could impact the property's value and usability.
Insurance
Annual Cost

$1,526

$127 per month

Financials

Monthly Costs

Price History

Property Taxes

$2,894
2024 Tax Assessment
Infinity%from previous year
Assessed Value$134,800
Tax Rate2.15%

Location & Comparables

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