1015 Barberry Rd #151 · Reynolds, MI 49329

$37,900

3 bd · 2.0 ba · 1,344 sqft · Manufactured · 44 Days on market

Built 2026 Good condition $28/sqft · 76% below area

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +3.8/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

* THIS IS A RESALE LISTING * You'll love living in this 3 bedroom, 2 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a clubhouse, a basketball court, a playground, and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

Key facts

• Clubhouse
• Basketball court
• Playground

Tags

• CLUBHOUSE
• BASKETBALL COURT
• PLAYGROUND

Property features AI

Finance

• Financial info: List price $37,900

Exterior

• Utilities: Natural gas heating; Central air conditioning
• Home design: Spec construction; Plan 93732; Located at 1015 Barberry Rd #151, Howard City, MI 49329
• Exterior features: Living area 1344

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Active listing status

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $38k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $533 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $38k).
• Recommended offer: $37k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Tri County Area Schools (rural): math 26% / reading 42% proficiency, ranked #302 of 540 in MI (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 77 active listings in the ZIP; 273 units permitted in Montcalm County in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $262 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Montcalm 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 + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($37k) is reasonable based on typical stale-listing flexibility.

Recommended offer $36,763 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 2.65% ✓
• Cap rate: 23.16%
• Cash-on-cash: 60.23%
• DSCR: 3.68
• GRM: 3.1

CMA / ARV

• ARV (median comp): $157,051
• List price: $37,900
• Delta: -75.87%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20019 Northrup Dr	0.62mi	2/2.0 (-1)	1,144 (-15%)	24mo	$130,000	$114	22

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 59.0%
• Equity multiple: 3.62×
• Total profit: $27,799
• Equity at exit: $5,651

10-year hold

• IRR: 63.8%
• Equity multiple: 7.40×
• Total profit: $67,952
• Equity at exit: $3,277

Cash invested: $10,612 (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 49329

• Home prices YoY: -15.6%
• Active inventory: 77
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,006 medium
• Mortgage (P&I): −$199
• Tax est. 1.5%: −$47 /mo · $568/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$211
• Net cashflow: $533

Break-even live

Break-even rent $332

Max offer price $37,900

Occupancy floor 42%

Sensitivity live

Price	-10% $559	-5% $546	+0% $533	+5% $520	+10% $506
Rent	-10% $453	-5% $493	+0% $533	+5% $572	+10% $612
Rate	-1.0pp $552	-0.5pp $542	base $533	+0.5pp $523	+1.0pp $513

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: $9,475
• Closing costs: $1,137
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-21
   days on market $37,900 Active 44 DOM
2. 2026-06-18
   days on market $37,900 Active 42 DOM
3. 2026-06-17
   days on market $37,900 Active 41 DOM
4. 2026-06-16
   days on market $37,900 Active 40 DOM
5. 2026-06-15
   days on market $37,900 Active 39 DOM
6. 2026-06-13
   pricedays on market $37,900 Active 37 DOM
7. 2026-04-23
   listed $37,400 Active 401-char remark

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,069
• − Mortgage interest: −$2,123
• − Property taxes: −$568
• − Insurance: −$190
• − Repairs & maintenance: −$966
• − Management: −$966
• − Depreciation: −$1,103
• Taxable income: $6,155
• Est. tax owed @ 24.0%: −$1,477
• After-tax cash flow: $4,915/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.

Condition & rehab AI · 8 photos

Good 75/100 Cosmetic rehab

This 3-bedroom, 2-bathroom manufactured home is in good condition with a good roof, exterior, and interior. It has a good foundation and structure, and the HVAC and mechanical systems appear to be in good condition. The home has a good curb appeal and is ready for a fresh coat of paint and some landscaping updates to further enhance its value.

Value-add opportunities

• Both Painting the exterior siding and updating the landscaping — Painting the exterior and updating the landscaping will enhance the curb appeal and increase both resale and rental value.
• Resale Upgrading the kitchen appliances — Upgrading the kitchen appliances will make the home more appealing to potential buyers.
• Resale Updating the bathroom fixtures — Updating the bathroom fixtures will make the home more appealing to potential buyers.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior siding and updating the landscaping — Painting the exterior and updating the landscaping will enhance the curb appeal and increase both resale and rental value. ↑
• Resale Upgrading the kitchen appliances — Upgrading the kitchen appliances will make the home more appealing to potential buyers. ↑
• Resale Updating the bathroom fixtures — Updating the bathroom fixtures will make the home more appealing to potential buyers. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Tri County Area Schools
• NCES district ID: 2633930
• Math proficiency: 26% ▼ -2.00%
• Reading proficiency: 42% ▲ 2.00%
• Median HH income: $48,772
• Composite: 29.34/100
• National rank: #6542
• State rank: #302 of 540 in MI

Livability — Reynolds

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Howard City, MI
• Population (ZIP): 9,030

Population outlook (Montcalm County) Hauer SSP2

• Today (2025): 61,011 people
• By 2030: 59,467 · -2.5%
• By 2040: 55,427 · -9.2%
• By 2050: 50,517 · -17.2%
• By 2075: 38,731 · -36.5%
• By 2100: 26,770 · -56.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Black 6% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Iranian 8% Romanian 3% Lithuanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Montcalm

• 2024 margin: Solid R (+39.0) · D 29.8% · R 68.7% · Other 1.5%
• 2008→2024 swing: -38.7pp toward R · 2008: -0.3pp · 2024: -39.0pp
• All cycles: 2024: R+39.0 2020: R+37.7 2016: R+34.0 2012: R+8.6 2008: R+0.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -56.56%
• Current HPI: 305.7702
• Rent YoY: —
• Metro: —
• 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