510 Sky Vw · Perry, MI 48857

$96,900

3 bd · 2.0 ba · 1,296 sqft · Manufactured · 480 Days on market

Built 2019 Good condition 4,371 sqft lot

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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
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This roomy three bedroom, two bath home backs up to woods. It also features central air, a master bedroom en-suite, a laundry room, and tons of storage space. A quaint front porch overlooks farm fields. Secluded yet secure, Morrice Meadows Manufactured Home Community is beautiful, convenient and amazingly affordable. Through our in-house, licensed manufactured home dealer, IMC Home Sales, Morrice Meadows also offers high-quality new and pre-owned homes, as well as spacious sites for those who already own a home. Our location, just east of Morrice Road, off Britton Road, is just three miles from the quaint, historic City of Perry. Our location also allows for easy access via I-69 to Flint and Grand Blanc to the east and Lansing to the west.

Key facts

• Laundry room
• Easy access via i-69
• Backs up to woods

Tags

• BACKS UP TO WOODS
• MASTER BEDROOM EN-SUITE
• LAUNDRY ROOM
• TONS OF STORAGE SPACE
• EASY ACCESS VIA I-69

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $97k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $550 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $97k).
• Recommended offer: $85k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.1% vs local median 2.2% in Perry — 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 76/100 on livability (#142 in MI, #3,653 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety D-.
• Morrice Area Schools (rural): math 20% / reading 43% proficiency, ranked #323 of 540 in MI (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 14 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 $670 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 480 days — a 12% lower offer ($85k) 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.

Recommended offer $85,272 (12.0% below list)

Questions for the listing agent

1. It's been on market 480 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.59% ✓
• Cap rate: 13.10%
• Cash-on-cash: 24.32%
• DSCR: 2.08
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 17.6%
• Equity multiple: 1.71×
• Total profit: $19,348
• Equity at exit: $14,448

10-year hold

• IRR: 26.1%
• Equity multiple: 3.29×
• Total profit: $62,046
• Equity at exit: $8,378

Cash invested: $27,132 (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 48857

• Home prices YoY: -7.5%
• Active inventory: 14
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,544 medium
• Mortgage (P&I): −$508
• Tax est. 1.5%: −$121 /mo · $1,454/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $550

Break-even live

Break-even rent $848

Max offer price $96,900

Occupancy floor 59%

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: $24,225
• Closing costs: $2,907
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-31
   days on market $96,900 Active 480 DOM
2. 2026-05-31
   days on market $96,900 Active 479 DOM
3. 2025-02-05
   listed $96,900 Active 749-char remark

   Show marketing remark (749 chars)

   This roomy three bedroom, two bath home backs up to woods. It also features central air, a master bedroom en-suite, a laundry room, and tons of storage space. A quaint front porch overlooks farm fields. Secluded yet secure, Morrice Meadows Manufactured Home Community is beautiful, convenient and amazingly affordable. Through our in-house, licensed manufactured home dealer, IMC Home Sales, Morrice Meadows also offers high-quality new and pre-owned homes, as well as spacious sites for those who already own a home. Our location, just east of Morrice Road, off Britton Road, is just three miles from the quaint, historic City of Perry. Our location also allows for easy access via I-69 to Flint and Grand Blanc to the east and Lansing to the west.

4. 2025-02-05
   listed $96,900 Active 749-char remark

   Show marketing remark (749 chars)

   This roomy three bedroom, two bath home backs up to woods. It also features central air, a master bedroom en-suite, a laundry room, and tons of storage space. A quaint front porch overlooks farm fields. Secluded yet secure, Morrice Meadows Manufactured Home Community is beautiful, convenient and amazingly affordable. Through our in-house, licensed manufactured home dealer, IMC Home Sales, Morrice Meadows also offers high-quality new and pre-owned homes, as well as spacious sites for those who already own a home. Our location, just east of Morrice Road, off Britton Road, is just three miles from the quaint, historic City of Perry. Our location also allows for easy access via I-69 to Flint and Grand Blanc to the east and Lansing to the west.

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,526
• − Mortgage interest: −$5,428
• − Property taxes: −$1,454
• − Insurance: −$484
• − Repairs & maintenance: −$1,482
• − Management: −$1,482
• − Depreciation: −$2,819
• Taxable income: $5,377
• Est. tax owed @ 24.0%: −$1,290
• After-tax cash flow: $5,309/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This well-maintained, updated mobile home is move-in ready with a good condition score and minimal repairs needed.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Replace carpet with hardwood or tile — Improves aesthetics and is easier to maintain
• Both Install smart home devices — Enhances convenience and adds modern appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace carpet with hardwood or tile — Improves aesthetics and is easier to maintain ↑
• Both Install smart home devices — Enhances convenience and adds modern appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Morrice Area Schools
• NCES district ID: 2624630
• Math proficiency: 20% ▼ -5.00%
• Reading proficiency: 43% ▼ -1.00%
• Median HH income: $57,064
• Composite: 28.03/100
• National rank: #6845
• State rank: #323 of 540 in MI

Livability — Perry

• Score: 76/100
• State rank: #142
• US rank: #3653

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,488

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 (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Italian 7% Lithuanian 6% Slovak 3%
• Foreign-born: 0%
• Languages at home: 98% English-only · German/W. Germanic 1% Spanish 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: ▼ -22.21%
• Current HPI: 273.1644
• 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

+0.0% since first listed

2 events — show timeline

• 2025-02-05 Listed $96,900 MiRealSource-MiMLS
• 2025-02-05 Listed $96,900 REALCOMP