6077 Hibbard Rd · Vernon, MI 48817

$135,000

3 bd · 2.0 ba · 1,390 sqft · SingleFamily · 18 Days on market

Built 1991 1.60 ac lot Est $133k · at est. ↓ 7% since listing

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.0/15.0
• DSCR +4.6/10.0
• Livability +3.4/5.0
• 1% rule +3.3/10.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for space, privacy, and workshop potential? This 1991 Ranch-style manufactured home offers the perfect blend of comfort and country living on a spacious 1.60-acre lot. Home needs work throughout

Key facts

• 1.6 acre lot
• 2 garage spots
• Built 1991

Tags

• RANCH-STYLE MANUFACTURED HOME
• SPACIOUS 1.60-ACRE LOT

Property features AI

Finance

• HOA & community: Homeowners association present

Exterior

• Parking: Detached 2-car garage
• Utilities: Private well water; Septic tank sewer
• Home design: Single-family residence; One level
• Construction: Vinyl siding
• Exterior features: Lot dimensions approximately 181 x 249 x 181 x 249; Approximately 1.6-acre lot

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Propane heating; No central cooling
• Interior features: Crawl space basement; Total of 6 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $42 ($509/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 $112k (16.8% below list).
• Recommended offer: $112k (16.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 67/100 on livability (#401 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, health & safety F.
• Corunna Public Schools (town): math 24% / reading 40% proficiency, ranked #330 of 540 in MI (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Elsa Meyer Elementary School (math 47% / reading 42%, grade F, #484 of 1,397 statewide, top 38%, 337 students, 60% FRL); Corunna Middle School (math 18% / reading 31%, grade F, #388 of 493 statewide, top 80%, 452 students, 58% FRL); Corunna High School (math 25% / reading 56%, grade F, #297 of 713 statewide, top 42%, 666 students, 50% FRL).
• Market conditions: 52 active listings in the ZIP; 74 units permitted in Shiawassee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Shiawassee County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 7y ago 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.

Recommended offer $112,261 (16.8% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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?
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: 0.83% ✗
• Cap rate: 6.67%
• Cash-on-cash: 1.35%
• DSCR: 1.06
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $133,440
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6077 Hibbard Rd	0.00mi	3/2.0	1,390 (0%)	1mo	$134,000	$96	99

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: -14.2%
• Equity multiple: 0.49×
• Total profit: $-19,212
• Equity at exit: $20,129

10-year hold

• IRR: -5.5%
• Equity multiple: 0.65×
• Total profit: $-13,403
• Equity at exit: $11,672

Cash invested: $37,800 (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 48817

• Home prices YoY: -26.9%
• Active inventory: 52
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,123 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$80 /mo · $963/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $42

Break-even live

Break-even rent $1,069

Max offer price $135,000

Occupancy floor 91%

Sensitivity live

Price	-10% $119	-5% $81	+0% $42	+5% $4	+10% $-34
Rent	-10% $-46	-5% $-2	+0% $42	+5% $87	+10% $131
Rate	-1.0pp $110	-0.5pp $77	base $42	+0.5pp $7	+1.0pp $-28

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-04-30
   status Pending

   Show marketing remark (203 chars)

   Looking for space, privacy, and workshop potential? This 1991 Ranch-style manufactured home offers the perfect blend of comfort and country living on a spacious 1.60-acre lot. Home needs work throughout

2. 2026-04-30
   status Pending 203-char remark

   Show marketing remark (203 chars)

   Looking for space, privacy, and workshop potential? This 1991 Ranch-style manufactured home offers the perfect blend of comfort and country living on a spacious 1.60-acre lot. Home needs work throughout

3. 2026-04-12
   listed $135,000 Active

   Show marketing remark (203 chars)

   Looking for space, privacy, and workshop potential? This 1991 Ranch-style manufactured home offers the perfect blend of comfort and country living on a spacious 1.60-acre lot. Home needs work throughout

4. 2026-04-12
   listed $135,000 Active 203-char remark

   Show marketing remark (203 chars)

   Looking for space, privacy, and workshop potential? This 1991 Ranch-style manufactured home offers the perfect blend of comfort and country living on a spacious 1.60-acre lot. Home needs work throughout

5. 2025-10-17
   historical
6. 2025-10-17
   historical
7. 2025-10-13
   price $170,000
8. 2025-10-13
   price $170,000
9. 2025-10-03
   price $215,000
10. 2025-10-02
    price $215,000
11. 2025-09-16
    listed $235,000 Active
12. 2025-09-16
    listed $235,000 Active
13. 2025-05-07
    historical
14. 2025-04-21
    listed $250,000 Active
15. 2025-04-21
    listed $250,000 Active
16. 2025-04-14
    historical
17. 2019-06-24
    soldstatus $146,000
18. 2019-06-03
    soldstatus $146,000
19. 2019-06-03
    soldstatus $146,000
20. 2019-03-29
    listed $144,900
21. 2019-03-29
    listed $144,900

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

Tax reassessment forecast MI · Partial reset (capped growth)

• Current annual tax: $963 · $80/mo
• Projected year-2 tax: $1,521 · $127/mo
• Expected delta: +$558/yr (+$46/mo · 57.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $13,471
• − Mortgage interest: −$7,562
• − Property taxes: −$963
• − Insurance: −$675
• − Repairs & maintenance: −$1,078
• − Management: −$1,078
• − Depreciation: −$3,927
• Taxable loss: −$1,811
• Est. tax savings @ 24.0%: +$435
• After-tax cash flow: $944/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: Corunna Public Schools
• NCES district ID: 2610860
• Math proficiency: 24% ▲ 1.00%
• Reading proficiency: 40% ▬ 0.00%
• Median HH income: $47,801
• Composite: 27.59/100
• National rank: #6935
• State rank: #330 of 540 in MI

Livability — Vernon

• Score: 67/100
• State rank: #401
• US rank: #10838

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 609
• Population (ZIP): 5,451

Population outlook (Shiawassee County) Hauer SSP2

• Today (2025): 64,238 people
• By 2030: 61,434 · -4.4%
• By 2040: 55,054 · -14.3%
• By 2050: 48,426 · -24.6%
• By 2075: 35,995 · -44.0%
• By 2100: 26,678 · -58.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 3% Asian 2% Two or more races 2%
• Common ancestry: Lithuanian 5% Romanian 5% Iranian 4%
• Foreign-born: 1% · Philippines, Canada
• Languages at home: 98% English-only · Spanish 1% Arabic 1%

Political lean MEDSL · Shiawassee

• 2024 margin: Strong R (+23.1) · D 37.7% · R 60.8% · Other 1.6%
• 2008→2024 swing: -31.7pp toward R · 2008: 8.6pp · 2024: -23.1pp
• All cycles: 2024: R+23.1 2020: R+19.9 2016: R+19.6 2012: D+3.7 2008: D+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -91.76%
• Current HPI: 249.693
• Rent YoY: —
• Metro: —
• 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

-6.8% since first listed

21 events — show timeline

• 2026-04-30 Pending — REALCOMP
• 2026-04-30 Pending — MiRealSource-MiMLS
• 2026-04-12 Listed $135,000 REALCOMP
• 2026-04-12 Listed $135,000 MiRealSource-MiMLS
• 2025-10-17 Listing Removed — MiRealSource-MiMLS
• 2025-10-17 Listing Removed — REALCOMP
• 2025-10-13 Price Changed $170,000 MiRealSource-MiMLS
• 2025-10-13 Price Changed $170,000 REALCOMP
• 2025-10-03 Price Changed $215,000 MiRealSource-MiMLS
• 2025-10-02 Price Changed $215,000 REALCOMP
• 2025-09-16 Listed $235,000 REALCOMP
• 2025-09-16 Listed $235,000 MiRealSource-MiMLS
• 2025-05-07 Listing Removed — MiRealSource-MiMLS
• 2025-04-21 Listed $250,000 MiRealSource-MiMLS
• 2025-04-21 Listed $250,000 REALCOMP
• 2025-04-14 Coming Soon — MiRealSource-MiMLS
• 2019-06-24 Sold (Public Records) $146,000 Public Records
• 2019-06-03 Sold (MLS) $146,000 MiRealSource-MiMLS
• 2019-06-03 Sold (MLS) $146,000 REALCOMP
• 2019-03-29 Listed $144,900 MiRealSource-MiMLS
• 2019-03-29 Listed $144,900 REALCOMP

Property tax history

-0.8%/yr

Latest (2025): $963 · -56.0% YoY. Source: county tax records.