714 Mill St #54 · Leslie, MI 49251

$79,900

3 bd · 2.0 ba · 1,216 sqft · Manufactured · 82 Days on market

Manufactured home Built 2022 Good condition $66/sqft · 20% below area Est $100k · 20% under

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Why this score? — see what drove the C- 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 +16.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.0/10.0
• 1% rule +4.4/10.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• Schools +3.2/10.0
• Appreciation +2.5/10.0
• Rent growth +2.5/5.0
• Manufactured-home adj. -4.5

Listing remarks MLS

Welcome to 714 Mill St. , Unit #54, a beautifully crafted home that offers a blend of rustic charm and modern convenience in the heart of Leslie. This inviting residence features 3 bedrooms and 2 full bathrooms, designed to meet all your needs with style and comfort. Step into the spacious living room, where rustic design elements create a warm and welcoming atmosphere. The primary bedroom features an ensuite bathroom with walk in shower and a spacious closet. Good sized second bedroom and bathroom with bathtub. Home is on a large corner lot in the wonderful Leslie Estate. The community has a pool, pickle ball court, fitness center and dog park. Home is located in a park and the purchase transaction is subject to the park's approval of the buyer. MCM 855-377-7368. Seller is a licensed agent in the state of Michigan.

Key facts

• Modern convenience
• Spacious livingroom
• Rustic charm

Tags

• RUSTIC CHARM
• MODERN CONVENIENCE
• SPACIOUS LIVINGROOM
• ENSUITE BATHROOM
• WALK IN SHOWER
• SPACIOUS CLOSET

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $80k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $41 ($491/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $75k (6.0% below list).
• Recommended offer: $75k (6.0% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 4.0% in Leslie — 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 75/100 on livability (#159 in MI, #4,066 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities F, commute F.
• Leslie Public Schools (rural): math 23% / reading 39% proficiency, ranked #329 of 540 in MI (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Woodworth Elementary School (math 27% / reading 32%, grade F, #866 of 1,397 statewide, top 65%, 439 students, 56% FRL); Leslie Middle School (math 22% / reading 40%, grade F, #329 of 493 statewide, top 67%, 303 students, 47% FRL); Leslie High School (math 24% / reading 44%, grade F, #372 of 713 statewide, top 56%, 342 students, 44% FRL).
• Market conditions: 52 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 350 units permitted in Ingham County in 2024 (186 in 5+ unit buildings).
• This rent is only 11% of the median local income ($83k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Ingham County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $75,075 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 0.94% ✗
• Cap rate: 6.91%
• Cash-on-cash: 2.19%
• DSCR: 1.10
• GRM: 8.9

CMA / ARV

• ARV (median comp): $99,900
• List price: $79,900
• Delta: -20.02%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
501 Mill St	0.20mi	3/1.0	1,296 (+7%)	2mo	$190,000	$147	74
714 Mill St #27	0.00mi	3/2.0	1,512 (+24%)	4mo	$99,900	$66	72
714 Mill St #14	0.00mi	3/2.0	1,512 (+24%)	4mo	$95,900	$63	71
714 Mill St #18	0.00mi	3/2.0	1,512 (+24%)	5mo	$109,900	$73	71
113 Woodworth St	0.61mi	3/1.0	1,202 (-1%)	4mo	$180,000	$150	62
207 W Bellevue St	0.60mi	3/1.0	1,186 (-2%)	4mo	$190,000	$160	60
318 S Main St	0.47mi	4/2.5 (+1)	1,284 (+6%)	4mo	$235,000	$183	58
413 Meeker St	0.71mi	3/1.5	1,176 (-3%)	6mo	$72,500	$62	54
301 Mill St	0.33mi	2/1.0 (-1)	1,418 (+17%)	0mo	$155,000	$109	50
114 S High St	0.80mi	3/2.0	1,408 (+16%)	6mo	$204,000	$145	35
430 W Race St	0.84mi	3/1.0	996 (-18%)	3mo	$120,000	$120	34
209 S Sherman St	0.82mi	3/1.5	1,400 (+15%)	6mo	$209,000	$149	33

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: -12.8%
• Equity multiple: 0.54×
• Total profit: $-10,330
• Equity at exit: $11,913

10-year hold

• IRR: -3.8%
• Equity multiple: 0.75×
• Total profit: $-5,593
• Equity at exit: $6,908

Cash invested: $22,372 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 5 active
• Months of supply: 10.0 mo (10%/mo absorbed)
• Median asking: $84,900 ($70/sqft)
• Median days on market: 1051 d
• This list price: 20% of active listings are priced below it
• ARV vs active asking: +17.7% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 49251

• Active inventory: 52
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $751 medium
• Mortgage (P&I): −$419
• Tax est. 1.5%: −$100 /mo · $1,198/yr
• Insurance: −$33
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$158
• Net cashflow: $41

Break-even live

Break-even rent $699

Max offer price $79,900

Occupancy floor 90%

Sensitivity live

Price	-10% $96	-5% $69	+0% $41	+5% $13	+10% $-14
Rent	-10% $-18	-5% $11	+0% $41	+5% $71	+10% $100
Rate	-1.0pp $81	-0.5pp $61	base $41	+0.5pp $20	+1.0pp $-1

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: $19,975
• Closing costs: $2,397
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4425 S Hull Rd Unit 4415 17 Leslie, MI	2.0	1.0	863	$975	$1.13	2d	1	0.99mi
4425 S Hull Rd Leslie, MI	2.0	1.0	863	$975	$1.13	0d	6	0.99mi

Listing history 50 events

1. 2026-09-20
   days on market $79,900 Active 82 DOM
2. 2026-09-19
   days on market $79,900 Active 81 DOM
3. 2026-09-19
   days on market $79,900 Active 80 DOM
4. 2026-09-17
   days on market $79,900 Active 79 DOM
5. 2026-09-17
   days on marketlisting id $79,900 Active 78 DOM
6. 2026-09-16
   days on market $79,900 Active 363 DOM
7. 2026-09-14
   days on market $79,900 Active 362 DOM
8. 2026-09-13
   days on market $79,900 Active 361 DOM
9. 2026-09-12
   days on market $79,900 Active 360 DOM
10. 2026-09-11
    days on market $79,900 Active 359 DOM
11. 2026-09-05
    days on market $79,900 Active 353 DOM
12. 2026-09-04
    days on market $79,900 Active 352 DOM
13. 2026-09-03
    days on market $79,900 Active 351 DOM
14. 2026-09-02
    days on market $79,900 Active 350 DOM
15. 2026-08-29
    days on market $79,900 Active 346 DOM
16. 2026-08-28
    days on market $79,900 Active 345 DOM
17. 2026-08-27
    days on market $79,900 Active 344 DOM
18. 2026-08-26
    days on market $79,900 Active 343 DOM
19. 2026-08-25
    days on market $79,900 Active 342 DOM
20. 2026-08-24
    days on market $79,900 Active 341 DOM
21. 2026-08-23
    days on market $79,900 Active 340 DOM
22. 2026-08-22
    days on market $79,900 Active 339 DOM
23. 2026-08-21
    days on market $79,900 Active 338 DOM
24. 2026-08-20
    days on market $79,900 Active 337 DOM
25. 2026-08-19
    days on market $79,900 Active 336 DOM
26. 2026-08-18
    days on market $79,900 Active 335 DOM
27. 2026-08-17
    days on market $79,900 Active 334 DOM
28. 2026-08-16
    days on market $79,900 Active 333 DOM
29. 2026-08-15
    days on market $79,900 Active 332 DOM
30. 2026-08-14
    days on market $79,900 Active 331 DOM
31. 2026-08-13
    days on market $79,900 Active 330 DOM
32. 2026-08-12
    days on market $79,900 Active 329 DOM
33. 2026-08-11
    days on market $79,900 Active 328 DOM
34. 2026-08-10
    days on market $79,900 Active 327 DOM
35. 2026-08-09
    days on market $79,900 Active 326 DOM
36. 2026-08-08
    days on market $79,900 Active 325 DOM
37. 2026-08-07
    days on market $79,900 Active 324 DOM
38. 2026-08-06
    days on market $79,900 Active 323 DOM
39. 2026-08-05
    days on market $79,900 Active 322 DOM
40. 2026-08-04
    days on market $79,900 Active 321 DOM
41. 2026-08-03
    days on market $79,900 Active 320 DOM
42. 2026-07-31
    days on market $79,900 Active 317 DOM
43. 2026-07-29
    days on market $79,900 Active 315 DOM
44. 2026-07-27
    days on market $79,900 Active 313 DOM
45. 2026-07-25
    days on market $79,900 Active 311 DOM
46. 2026-07-24
    days on market $79,900 Active 310 DOM
47. 2026-07-23
    days on market $79,900 Active 309 DOM
48. 2026-07-22
    price $79,900 Active 308 DOM
49. 2026-07-22
    days on market $84,900 Active 308 DOM
50. 2026-07-21
    days on market $84,900 Active 307 DOM

ⓘ 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 FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,009
• − Mortgage interest: −$4,476
• − Property taxes: −$1,198
• − Insurance: −$400
• − Repairs & maintenance: −$721
• − Management: −$721
• − Depreciation: −$2,324
• Taxable loss: −$830
• Est. tax savings @ 24.0%: +$199
• After-tax cash flow: $690/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 · 6 photos

Good 80/100 Cosmetic rehab Est. rehab $6,080–$18,240 screening

This manufactured home is in good condition with a modern kitchen and bathrooms. It has a good curb appeal and is located in a desirable neighborhood with community amenities. Minor cosmetic updates can further enhance its value.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhanced landscaping can increase curb appeal and property value. ↑
• Both Add a small front garden bed — A small garden bed can improve curb appeal and add value to the property. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 32/100

Zoned Schools

Elementary Woodworth Elementary School F MI #866/1,397 Nat'l #26,716/41,679 Middle Leslie Middle School F MI #329/493 Nat'l #8,646/14,009 High Leslie High School F MI #372/713 Nat'l #9,639/17,239

Schools (NCES district)

• District: Leslie Public Schools
• NCES district ID: 2621450
• Math proficiency: 23% ▼ -11.00%
• Reading proficiency: 39% ▼ -10.00%
• Median HH income: $56,686
• Composite: 27.61/100
• National rank: #6929
• State rank: #329 of 540 in MI

B Composite livability gradescore 75/100

Livability — Leslie

• Score: 75/100
• State rank: #159
• US rank: #4066

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Leslie, MI
• County: Ingham · 300,362 people
• Metro: Lansing-East Lansing, MI
• Population (ZIP): 6,110
• Household income: $83,458
• Rent vs Own: 14.3% rent · 85.7% own
• Severe rent burden: 7% of renters

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Population outlook (Ingham County) Hauer SSP2

• Today (2025): 300,362 people
• By 2030: 307,808 · +2.5%
• By 2040: 320,492 · +6.7%
• By 2050: 333,223 · +10.9%
• By 2075: 373,693 · +24.4%
• By 2100: 392,021 · +30.5%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 6% Two or more races 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Italian 5% Romanian 4% Lithuanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

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Political lean MEDSL · Ingham

• 2024 margin: Strong D (+29.7) · D 63.9% · R 34.2% · Other 2.0%
• 2008→2024 swing: -3.6pp toward R · 2008: 33.3pp · 2024: 29.7pp
• All cycles: 2024: D+29.7 2020: D+32.2 2016: D+27.6 2012: D+27.9 2008: D+33.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -134.75%
• Current HPI: 173.7673
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

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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

+0.0% since first listed

3 events — show timeline

• 2025-09-17 Listed $84,900 REALCOMP
• 2025-09-16 Listed $84,900 MiRealSource-MiMLS
• 2025-09-16 Listed $84,900 SW Michigan MLS