7743 N Manitonka Dr

Weidman, MI 48893

$64,000B+

3 bd · 1.5 ba · 1,341 sqft · Built 1900 · SingleFamily · Active · 33 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,262/mo
• Mortgage (P&I): −$336
• Tax + insurance: −$95
• HOA: −$0
• Vac / Maint / Mgmt: −$265
• Net cashflow: $567/mo
• Annual: $6,798/yr
• Cap rate: 16.92%
• Cash-on-cash: 37.94%
• DSCR: 2.69
• 1% rule: 1.97%
• Cash to close: $17,920

Investor read

• This is a 3-bed/1.5-bath single-family listed at $64k.
• At list price, monthly cash flow is $567 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $64k).
• It's been on market 33 days — a 3% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $62k (3.0% below list) — sets the bar for market timing.
• In year one you build about $7k of equity ($442 loan paydown + $6k appreciation (10.0% local appreciation)).
• Location reads 62/100 on livability (#538 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing B; Watch: amenities F, commute F, employment D-.
• Chippewa Hills School District (rural): math 24% / reading 42% proficiency, ranked #324 of 540 in MI (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mecosta Elementary School (math 42% / reading 52%, grade D-, #433 of 1,397 statewide, top 34%, 228 students, 66% FRL); Chippewa Hills Intermediate School (math 17% / reading 37%, grade F, #372 of 493 statewide, top 77%, 513 students, 69% FRL); Chippewa Hills High School (math 27% / reading 57%, grade F, #264 of 713 statewide, top 41%, 476 students, 59% FRL).
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 79 active listings in the ZIP; 72 units permitted in Isabella County in 2024 (0 in 5+ unit buildings).
• Isabella County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 6 sale attempts; this cycle's ask has dropped $25k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.