6065 Vernon · Ypsilanti, MI 48111

$25,000

3 bd · 2.0 ba · 900 sqft · SingleFamily · 142 Days on market

Built 1988 436 sqft lot $28/sqft · 79% below area $620/mo HOA · 49% of rent ↓ 29% since listing

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.0/5.0
• Rent growth +3.4/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this freshly remodeled 3-bedroom, 2-full-bath mobile home located in the desirable Maple Leaf South community. Updated in 2025, this home offers a move-in-ready feel with comfortable living spaces throughout. The open layout provides plenty of room for relaxing or entertaining, while the two full bathrooms add everyday convenience. A great opportunity to enjoy affordable living in a well-maintained park with a welcoming atmosphere BTVAL

Key facts

• Built 1988
• Listed 141 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $198 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $22k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.8% vs local median 3.8% in Ypsilanti — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 81/100 on livability (#71 in MI, #1,539 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment D-.
• Van Buren Public Schools (suburban): math 33% / reading 43% proficiency, ranked #228 of 540 in MI (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.6%/yr); 222 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $173 of loan paydown is wiped out by about $750 of value loss. Plan a longer hold.
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.6% rent growth), your $7k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 142 days — a 12% lower offer ($22k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 49% of rent.

Recommended offer $22,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 142 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 5.02% ✓
• Cap rate: 15.78%
• Cash-on-cash: 33.89%
• DSCR: 2.51
• GRM: 1.7

CMA / ARV

• ARV (median comp): $121,677
• List price: $25,000
• Delta: -79.45%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1384 Ridge Rd	0.72mi	2/1.0 (-1)	804 (-11%)	8mo	$169,900	$211	33
1424 Ridge Rd	0.73mi	2/1.0 (-1)	1,008 (+12%)	16mo	$70,000	$69	23

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.64% rent growth · sell at horizon

5-year hold

• IRR: 32.1%
• Equity multiple: 2.39×
• Total profit: $9,754
• Equity at exit: $3,728

10-year hold

• IRR: 40.4%
• Equity multiple: 5.24×
• Total profit: $29,710
• Equity at exit: $2,162

Cash invested: $7,000 (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 48111

• Rents YoY: 3.6%
• Active inventory: 222
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $1,254 medium
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $375/yr
• Insurance: −$10
• HOA: −$620
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $198

Break-even live

Break-even rent $1,004

Max offer price $25,000

Occupancy floor 79%

Sensitivity live

Price	-10% $215	-5% $206	+0% $198	+5% $189	+10% $180
Rent	-10% $99	-5% $148	+0% $198	+5% $247	+10% $297
Rate	-1.0pp $210	-0.5pp $204	base $198	+0.5pp $191	+1.0pp $185

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
82 Harvey Pl Superior Township, MI	2.0	1.0	692	$1,100	$1.59	25d	1	1.21mi
62 Harvey Pl Superior Township, MI	2.0	1.0	692	$945	$1.37	45d	1	1.23mi
72 Harvey Pl Superior Township, MI	2.0	1.0	692	$1,100	$1.59	45d	1	1.23mi

HOA detail

• Monthly dues: $620 · $7,440/yr

Listing history 22 events

1. 2026-06-21
   days on market $25,000 Active 142 DOM
2. 2026-06-18
   days on market $25,000 Active 139 DOM
3. 2026-06-17
   days on market $25,000 Active 138 DOM
4. 2026-06-16
   days on market $25,000 Active 137 DOM
5. 2026-06-15
   days on market $25,000 Active 136 DOM
6. 2026-06-13
   days on market $25,000 Active 134 DOM
7. 2026-06-09
   days on market $25,000 Active 130 DOM
8. 2026-06-08
   days on market $25,000 Active 129 DOM
9. 2026-06-07
   days on market $25,000 Active 128 DOM
10. 2026-06-04
    days on market $25,000 Active 125 DOM
11. 2026-06-03
    days on market $25,000 Active 124 DOM
12. 2026-06-02
    days on market $25,000 Active 123 DOM
13. 2026-06-01
    days on market $25,000 Active 122 DOM
14. 2026-05-31
    days on market $25,000 Active 121 DOM
15. 2026-04-20
    price $25,000 451-char remark

    Show marketing remark (451 chars)

    Welcome to this freshly remodeled 3-bedroom, 2-full-bath mobile home located in the desirable Maple Leaf South community. Updated in 2025, this home offers a move-in-ready feel with comfortable living spaces throughout. The open layout provides plenty of room for relaxing or entertaining, while the two full bathrooms add everyday convenience. A great opportunity to enjoy affordable living in a well-maintained park with a welcoming atmosphere BTVAL

16. 2026-04-20
    price $25,000 451-char remark

    Show marketing remark (451 chars)

    Welcome to this freshly remodeled 3-bedroom, 2-full-bath mobile home located in the desirable Maple Leaf South community. Updated in 2025, this home offers a move-in-ready feel with comfortable living spaces throughout. The open layout provides plenty of room for relaxing or entertaining, while the two full bathrooms add everyday convenience. A great opportunity to enjoy affordable living in a well-maintained park with a welcoming atmosphere BTVAL

17. 2026-03-21
    price $30,000 451-char remark

    Show marketing remark (451 chars)

    Welcome to this freshly remodeled 3-bedroom, 2-full-bath mobile home located in the desirable Maple Leaf South community. Updated in 2025, this home offers a move-in-ready feel with comfortable living spaces throughout. The open layout provides plenty of room for relaxing or entertaining, while the two full bathrooms add everyday convenience. A great opportunity to enjoy affordable living in a well-maintained park with a welcoming atmosphere BTVAL

18. 2026-03-21
    price $30,000 451-char remark

    Show marketing remark (451 chars)

    Welcome to this freshly remodeled 3-bedroom, 2-full-bath mobile home located in the desirable Maple Leaf South community. Updated in 2025, this home offers a move-in-ready feel with comfortable living spaces throughout. The open layout provides plenty of room for relaxing or entertaining, while the two full bathrooms add everyday convenience. A great opportunity to enjoy affordable living in a well-maintained park with a welcoming atmosphere BTVAL

19. 2026-02-16
    price $32,500 451-char remark

    Show marketing remark (451 chars)

    Welcome to this freshly remodeled 3-bedroom, 2-full-bath mobile home located in the desirable Maple Leaf South community. Updated in 2025, this home offers a move-in-ready feel with comfortable living spaces throughout. The open layout provides plenty of room for relaxing or entertaining, while the two full bathrooms add everyday convenience. A great opportunity to enjoy affordable living in a well-maintained park with a welcoming atmosphere BTVAL

20. 2026-02-15
    price $32,500 451-char remark

    Show marketing remark (451 chars)

    Welcome to this freshly remodeled 3-bedroom, 2-full-bath mobile home located in the desirable Maple Leaf South community. Updated in 2025, this home offers a move-in-ready feel with comfortable living spaces throughout. The open layout provides plenty of room for relaxing or entertaining, while the two full bathrooms add everyday convenience. A great opportunity to enjoy affordable living in a well-maintained park with a welcoming atmosphere BTVAL

21. 2026-01-29
    listed $35,000 Active 451-char remark

    Show marketing remark (451 chars)

    Welcome to this freshly remodeled 3-bedroom, 2-full-bath mobile home located in the desirable Maple Leaf South community. Updated in 2025, this home offers a move-in-ready feel with comfortable living spaces throughout. The open layout provides plenty of room for relaxing or entertaining, while the two full bathrooms add everyday convenience. A great opportunity to enjoy affordable living in a well-maintained park with a welcoming atmosphere BTVAL

22. 2026-01-29
    listed $35,000 Active 451-char remark

    Show marketing remark (451 chars)

    Welcome to this freshly remodeled 3-bedroom, 2-full-bath mobile home located in the desirable Maple Leaf South community. Updated in 2025, this home offers a move-in-ready feel with comfortable living spaces throughout. The open layout provides plenty of room for relaxing or entertaining, while the two full bathrooms add everyday convenience. A great opportunity to enjoy affordable living in a well-maintained park with a welcoming atmosphere BTVAL

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $15,045
• − Mortgage interest: −$1,400
• − Property taxes: −$375
• − Insurance: −$125
• − Repairs & maintenance: −$1,204
• − Management: −$1,204
• − HOA: −$7,440
• − Depreciation: −$727
• Taxable income: $2,570
• Est. tax owed @ 24.0%: −$617
• After-tax cash flow: $1,756/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: Van Buren Public Schools
• NCES district ID: 2634560
• Math proficiency: 33% ▲ 6.00%
• Reading proficiency: 43% ▲ 6.00%
• Median HH income: $54,166
• Composite: 33.2/100
• National rank: #5533
• State rank: #228 of 540 in MI

Livability — Ypsilanti

• Score: 81/100
• State rank: #71
• US rank: #1539

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Wayne County · 1,562,939 people
• City population: 105,769
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 44,709
• Household income: $76,595
• Rent vs Own: 31.6% rent · 68.4% own
• Severe rent burden: 1200.0

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 1,675,273 people
• By 2030: 1,620,300 · -3.3%
• By 2040: 1,502,341 · -10.3%
• By 2050: 1,384,039 · -17.4%
• By 2075: 1,124,592 · -32.9%
• By 2100: 881,193 · -47.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Black 22% Two or more races 7% Hispanic / Latino 4% Asian 2%
• Common ancestry: Romanian 8% Lithuanian 3% Slovak 3%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 1% Other Indo-European 1% Arabic 1%

Political lean MEDSL · Wayne

• 2024 margin: Strong D (+29.0) · D 62.7% · R 33.7% · Other 3.6%
• 2008→2024 swing: -20.5pp toward R · 2008: 49.5pp · 2024: 29.0pp
• All cycles: 2024: D+29.0 2020: D+38.1 2016: D+37.3 2012: D+46.9 2008: D+49.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -238.11%
• Current HPI: 236.4458
• Rent YoY: ▲ 3.64%
• Metro: Detroit-Warren-Dearborn, MI
• 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

-28.6% since first listed

8 events — show timeline

• 2026-04-20 Price Changed $25,000 MiRealSource-MiMLS
• 2026-04-20 Price Changed $25,000 REALCOMP
• 2026-03-21 Price Changed $30,000 MiRealSource-MiMLS
• 2026-03-21 Price Changed $30,000 REALCOMP
• 2026-02-16 Price Changed $32,500 MiRealSource-MiMLS
• 2026-02-15 Price Changed $32,500 REALCOMP
• 2026-01-29 Listed $35,000 REALCOMP
• 2026-01-29 Listed $35,000 MiRealSource-MiMLS