170 Tewksbury Dr SW

Byron, MI 49548

$19,900D+

3 bd · 2.0 ba · 1,200 sqft · Built 1993 · Manufactured · Active · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,620/mo
• Mortgage (P&I): −$104
• Tax + insurance: −$33
• HOA: −$700
• Vac / Maint / Mgmt: −$340
• Net cashflow: $443/mo
• Annual: $5,311/yr
• Cap rate: 32.98%
• Cash-on-cash: 95.32%
• DSCR: 5.24
• 1% rule: 8.14%
• Cash to close: $5,572

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $20k.
• At list price, monthly cash flow is $443 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $20k).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $138 of loan paydown is wiped out by about $597 of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#410 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: crime D+, amenities F, commute F.
• Byron Center Public Schools (suburban): math 69% / reading 73% proficiency, ranked #15 of 540 in MI (top 3%) — strong family-tenant draw, lease renewals of 3-5y typical; only 20% free/reduced lunch — higher-income household profile.
• Zoned schools: Countryside Elementary School (math 86% / reading 86%, grade A+, #8 of 1,397 statewide, top 0%, 589 students, 22% FRL); Byron Center West Middle School (math 64% / reading 69%, grade A-, #33 of 493 statewide, top 7%, 673 students, 23% FRL); Byron Center High School (math 64% / reading 74%, grade B, #38 of 713 statewide, top 5%, 1,339 students, 21% FRL) — zoned schools at 22% FRL track the district average.
• Watch-outs: HOA is 43% of rent.
• Market conditions: 111 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).
• Kent County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts; this cycle's ask has dropped $3k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~2 years — after that, you're playing with house money.
• This rent runs 32% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• Crime grade is D 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?
• 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?
• 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.
• 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.
• 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.