12337 Laird Rd

Cambridge, MI 49230

$53,400B-

3 bd · 1.0 ba · 910 sqft · Built 1968 · Manufactured · Active · 31 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,194/mo
• Mortgage (P&I): −$280
• Tax + insurance: −$89
• HOA: −$0
• Vac / Maint / Mgmt: −$251
• Net cashflow: $574/mo
• Annual: $6,893/yr
• Cap rate: 19.20%
• Cash-on-cash: 46.10%
• DSCR: 3.05
• 1% rule: 2.24%
• Cash to close: $14,952

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $53k. Condition is rated good.
• At list price, monthly cash flow is $574 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $53k).
• It's been on market 31 days — a 3% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $52k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $369 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Onsted Community Schools (rural): math 30% / reading 48% proficiency, ranked #210 of 540 in MI (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Onsted Elementary (math 33% / reading 45%, grade F, #671 of 1,397 statewide, top 48%, 527 students, 50% FRL); Onsted Middle School (math 28% / reading 49%, grade F, #228 of 493 statewide, top 47%, 284 students, 45% FRL); Onsted Community High School (math 27% / reading 47%, grade F, #334 of 713 statewide, top 51%, 389 students, 42% FRL) — zoned schools average 46% FRL vs 30% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 141 active listings in the ZIP; 137 units permitted in Lenawee County in 2024 (0 in 5+ unit buildings).
• Lenawee County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1968 — 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.

Repairs flagged (vision-AI assessment)

• Moderate: kitchen cabinets — dated and in need of updating
• Moderate: bathroom vanity — dated and in need of updating
• Major: kitchen appliances — outdated and in need of replacement