22 Ridgeway · Saline, MI 48176

$76,900

3 bd · 2.0 ba · 1,568 sqft · Other · 49 Days on market

Built 2000 2,800 sqft lot $49/sqft · 85% below area $731/mo HOA · 28% of rent ↓ 4% since listing

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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
• Schools +5.9/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to River Ridge Mobile Home Park. This well maintained home offers over 1,500 square feet of living space and sits on a larger lot, giving you a little extra room to enjoy both inside and out. The private driveway adds convenience and sets this home apart from others in the community. Located in a well kept community, this home offers a low maintenance lifestyle while still providing the space you are looking for. Conveniently located near shopping, dining, and major roads. If you are looking for an affordable option with room to grow, this is one worth seeing.

Key facts

• Private driveway
• Well maintained home
• Larger lot

Tags

• PRIVATE DRIVEWAY
• LARGER LOT
• WELL MAINTAINED HOME
• WELL KEPT COMMUNITY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $77k.

Deal economics

• At list price, monthly cash flow is $795 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $77k).
• Recommended offer: $75k (3.0% below list) — sets the bar for market timing.
• Cap rate 18.7% vs local median 2.1% in Saline — 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 81/100 on livability (#67 in MI, #1,442 nationally) — a professional / high-income tenant draw. Strengths: schools A+, housing A+, health & safety A+; Watch: amenities D, commute F.
• Saline Area Schools (suburban): math 59% / reading 70% proficiency, ranked #20 of 540 in MI (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 8% free/reduced lunch — higher-income household profile.
• Market conditions: 226 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 996 units permitted in Washtenaw County in 2024 (492 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $532 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Washtenaw County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 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.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.

Recommended offer $74,593 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
5. 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.
6. 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.
7. 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: 3.39% ✓
• Cap rate: 18.70%
• Cash-on-cash: 44.32%
• DSCR: 2.97
• GRM: 2.5

CMA / ARV

• ARV (median comp): $499,900
• List price: $76,900
• Delta: -84.62%
• Verdict: UNDERPRICED
• Comps: 19 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 41.6%
• Equity multiple: 2.80×
• Total profit: $38,677
• Equity at exit: $11,466

10-year hold

• IRR: 47.9%
• Equity multiple: 5.69×
• Total profit: $100,883
• Equity at exit: $6,649

Cash invested: $21,532 (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 48176

• Active inventory: 226
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $2,605 high
• Mortgage (P&I): −$403
• Tax est. 1.5%: −$96 /mo · $1,154/yr
• Insurance: −$32
• HOA: −$731
• Vacancy / Maint / Mgmt: −$547
• Net cashflow: $795

Break-even live

Break-even rent $1,598

Max offer price $76,900

Occupancy floor 64%

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: $19,225
• Closing costs: $2,307
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1206 Salt Springs Dr Saline, MI	2.0	2.5	2050	$2,800	$1.37	13d	1	0.15mi
1903 Salt Springs Dr Saline, MI	3.0	2.5	1773	$3,000	$1.69	43d	1	0.18mi
2804 Riversedge Dr Saline, MI	2.0	2.0	1342	$1,925	$1.43	13d	1	0.19mi
2201 Mill Ln Saline, MI	2.0	2.5	2086	$2,900	$1.39	13d	1	0.23mi
2770 Silo Dr Saline, MI	3.0	2.5	1900	$5,000	$2.63	13d	1	0.38mi
372 Highland Dr Saline, MI	3.0	1.5	1853	$2,450	$1.32	13d	1	1.04mi
814 Claudine Ct Saline, MI	2.0–3.0	2.0–2.5	1436	$2,999	$2.09	13d	1	1.16mi

HOA detail

• Monthly dues: $731 · $8,772/yr

Listing history 10 events

1. 2026-06-05
   status $76,900 Pending 49 DOM
2. 2026-06-03
   days on market $76,900 Active 49 DOM
3. 2026-06-02
   days on market $76,900 Active 48 DOM
4. 2026-06-01
   days on market $76,900 Active 47 DOM
5. 2026-05-31
   days on market $76,900 Active 46 DOM
6. 2026-05-30
   days on market $76,900 Active 45 DOM
7. 2026-05-01
   price $76,900 574-char remark

   Show marketing remark (574 chars)

   Welcome to River Ridge Mobile Home Park. This well maintained home offers over 1,500 square feet of living space and sits on a larger lot, giving you a little extra room to enjoy both inside and out. The private driveway adds convenience and sets this home apart from others in the community. Located in a well kept community, this home offers a low maintenance lifestyle while still providing the space you are looking for. Conveniently located near shopping, dining, and major roads. If you are looking for an affordable option with room to grow, this is one worth seeing.

8. 2026-05-01
   price $76,900 574-char remark

   Show marketing remark (574 chars)

   Welcome to River Ridge Mobile Home Park. This well maintained home offers over 1,500 square feet of living space and sits on a larger lot, giving you a little extra room to enjoy both inside and out. The private driveway adds convenience and sets this home apart from others in the community. Located in a well kept community, this home offers a low maintenance lifestyle while still providing the space you are looking for. Conveniently located near shopping, dining, and major roads. If you are looking for an affordable option with room to grow, this is one worth seeing.

9. 2026-04-15
   listed $80,000 Active 574-char remark

   Show marketing remark (574 chars)

   Welcome to River Ridge Mobile Home Park. This well maintained home offers over 1,500 square feet of living space and sits on a larger lot, giving you a little extra room to enjoy both inside and out. The private driveway adds convenience and sets this home apart from others in the community. Located in a well kept community, this home offers a low maintenance lifestyle while still providing the space you are looking for. Conveniently located near shopping, dining, and major roads. If you are looking for an affordable option with room to grow, this is one worth seeing.

10. 2026-04-15
    listed $80,000 Active 574-char remark

    Show marketing remark (574 chars)

    Welcome to River Ridge Mobile Home Park. This well maintained home offers over 1,500 square feet of living space and sits on a larger lot, giving you a little extra room to enjoy both inside and out. The private driveway adds convenience and sets this home apart from others in the community. Located in a well kept community, this home offers a low maintenance lifestyle while still providing the space you are looking for. Conveniently located near shopping, dining, and major roads. If you are looking for an affordable option with room to grow, this is one worth seeing.

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

Taxation est. · year 1

• Rental income: $31,256
• − Mortgage interest: −$4,308
• − Property taxes: −$1,154
• − Insurance: −$384
• − Repairs & maintenance: −$2,500
• − Management: −$2,500
• − HOA: −$8,772
• − Depreciation: −$2,237
• Taxable income: $9,400
• Est. tax owed @ 24.0%: −$2,256
• After-tax cash flow: $7,287/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.

Schools (NCES district)

• District: Saline Area Schools
• NCES district ID: 2630660
• Math proficiency: 59% ▼ -11.00%
• Reading proficiency: 70% ▼ -2.00%
• Median HH income: $96,722
• Composite: 59.23/100
• National rank: #939
• State rank: #20 of 540 in MI

Livability — Saline

• Score: 81/100
• State rank: #67
• US rank: #1442

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Washtenaw County · 306,860 people
• City population: 23,451
• Metro: Ann Arbor, MI
• Population (ZIP): 23,451
• Household income: $114,206
• Rent vs Own: 16.2% rent · 83.8% own
• Severe rent burden: 315.0

Population outlook (Washtenaw County) Hauer SSP2

• Today (2025): 402,878 people
• By 2030: 424,104 · +5.3%
• By 2040: 464,633 · +15.3%
• By 2050: 504,728 · +25.3%
• By 2075: 614,463 · +52.5%
• By 2100: 676,181 · +67.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 6% Hispanic / Latino 5% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Romanian 8% Lithuanian 3% Iranian 3%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 90% English-only · Other Indo-European 3% Spanish 2% Chinese 1%

Political lean MEDSL · Washtenaw

• 2024 margin: Solid D (+44.4) · D 71.0% · R 26.6% · Other 2.4%
• 2008→2024 swing: +3.5pp toward D · 2008: 41.0pp · 2024: 44.4pp
• All cycles: 2024: D+44.4 2020: D+46.6 2016: D+41.5 2012: D+36.0 2008: D+41.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -133.08%
• Current HPI: 192.5282
• Rent YoY: —
• Metro: Ann Arbor, MI
• 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

Price history

-3.9% since first listed

4 events — show timeline

• 2026-05-01 Price Changed $76,900 MiRealSource-MiMLS
• 2026-05-01 Price Changed $76,900 REALCOMP
• 2026-04-15 Listed $80,000 REALCOMP
• 2026-04-15 Listed $80,000 MiRealSource-MiMLS

Property tax history

-11.7%/yr

Latest (2024): $3 · -77.4% YoY. Source: county tax records.