360 E Tuttle Rd #121 · Ionia, MI 48846

$59,900

2 bd · 2.0 ba · 1,200 sqft · Manufactured · 28 Days on market

Built 2019 Good condition Est $53k · 13% over

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Why this score? — see what drove the C+ 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
• Condition / age +3.8/5.0
• Livability +3.6/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• ARV discount +1.4/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully maintained home which offers a spacious, open-concept layout Situated in the Canterbury Estates, you'll enjoy a neighborhood atmosphere with all the perks of a professionally managed community. This home is located in a mobile home park. Lot rent is $625., additional fees, internet $60.00, water $46.00 , Sewer $10.00 . , Trash $7, School tax $3 which includes internet. Buyer is responsible for all State Sales Tax and Title Transfer Fees at close. Buyer and Buyers Agent to verify all information. Buyer to complete an application with Canterbury Estates please call them at [phone], or email [email protected] Sale is Contingent on park approval of application for buyer.

Key facts

• Built 2019
• Listed 28 days

Property features AI

Exterior

• Utilities: Natural gas water heater
• Home design: Ranch-style home; Single-story; Residential property; Built in 2019
• Construction: Vinyl siding; Shingle roof
• Exterior features: Paved road access; Shed(s)

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Forced-air heating; Has cooling
• Interior features: Five total rooms; Slab basement
• Laundry & utility: Natural gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $60k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $715 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• Cap rate 20.6% vs local median 3.9% in Ionia — 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 71/100 on livability (#276 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools F, amenities F, commute F.
• Ionia Public Schools (town): math 23% / reading 39% proficiency, ranked #353 of 540 in MI (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 87 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 94 units permitted in Ionia County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Ionia County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 3 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 $59,001 (1.5% 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 F-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. 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.
4. 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.
5. 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: 2.39% ✓
• Cap rate: 20.62%
• Cash-on-cash: 51.15%
• DSCR: 3.28
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $52,800
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
360 E Tuttle Rd #82	0.08mi	3/2.0 (+1)	1,170 (-2%)	5mo	$38,000	$32	83
360 E Tuttle Rd #8	0.08mi	3/2.0 (+1)	1,242 (+4%)	11mo	$54,900	$44	76
99 Aldon Ln	0.57mi	3/2.0 (+1)	1,152 (-4%)	10mo	$143,500	$125	53

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: 49.0%
• Equity multiple: 3.14×
• Total profit: $35,851
• Equity at exit: $8,931

10-year hold

• IRR: 54.6%
• Equity multiple: 6.36×
• Total profit: $89,941
• Equity at exit: $5,179

Cash invested: $16,772 (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 48846

• Active inventory: 87
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,429 medium
• Mortgage (P&I): −$314
• Tax est. 1.5%: −$75 /mo · $898/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $715

Break-even live

Break-even rent $524

Max offer price $59,900

Occupancy floor 45%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
360 E Tuttle Rd Ionia, MI	3.0	2.0	1312	$1,429	$1.09	2d	1	0.06mi

Listing history 18 events

1. 2026-06-18
   days on market $59,900 Active 28 DOM
2. 2026-06-17
   days on market $59,900 Active 27 DOM
3. 2026-06-16
   days on market $59,900 Active 26 DOM
4. 2026-06-15
   days on market $59,900 Active 25 DOM
5. 2026-06-14
   days on market $59,900 Active 23 DOM
6. 2026-06-13
   days on market $59,900 Active 22 DOM
7. 2026-06-10
   days on market $59,900 Active 20 DOM
8. 2026-06-09
   days on market $59,900 Active 19 DOM
9. 2026-06-08
   days on market $59,900 Active 18 DOM
10. 2026-06-07
    days on market $59,900 Active 17 DOM
11. 2026-06-05
    days on market $59,900 Active 14 DOM
12. 2026-06-03
    days on market $59,900 Active 13 DOM
13. 2026-06-03
    days on market $59,900 Active 12 DOM
14. 2026-06-01
    days on market $59,900 Active 11 DOM
15. 2026-05-31
    days on market $59,900 Active 10 DOM
16. 2026-05-21
    listed $59,900 Active

    Show marketing remark (717 chars)

    Welcome to this beautifully maintained home which offers a spacious, open-concept layout Situated in the Canterbury Estates, you'll enjoy a neighborhood atmosphere with all the perks of a professionally managed community. This home is located in a mobile home park. Lot rent is $625., additional fees, internet $60.00, water $46.00 , Sewer $10.00 . , Trash $7, School tax $3 which includes internet. Buyer is responsible for all State Sales Tax and Title Transfer Fees at close. Buyer and Buyers Agent to verify all information. Buyer to complete an application with Canterbury Estates please call them at [phone], or email [email protected] Sale is Contingent on park approval of application for buyer.

17. 2026-05-21
    listed $59,900 Active 718-char remark

    Show marketing remark (717 chars)

    Welcome to this beautifully maintained home which offers a spacious, open-concept layout Situated in the Canterbury Estates, you'll enjoy a neighborhood atmosphere with all the perks of a professionally managed community. This home is located in a mobile home park. Lot rent is $625., additional fees, internet $60.00, water $46.00 , Sewer $10.00 . , Trash $7, School tax $3 which includes internet. Buyer is responsible for all State Sales Tax and Title Transfer Fees at close. Buyer and Buyers Agent to verify all information. Buyer to complete an application with Canterbury Estates please call them at [phone], or email [email protected] Sale is Contingent on park approval of application for buyer.

18. 2026-05-21
    listed $59,900 Active 717-char remark

    Show marketing remark (717 chars)

    Welcome to this beautifully maintained home which offers a spacious, open-concept layout Situated in the Canterbury Estates, you'll enjoy a neighborhood atmosphere with all the perks of a professionally managed community. This home is located in a mobile home park. Lot rent is $625., additional fees, internet $60.00, water $46.00 , Sewer $10.00 . , Trash $7, School tax $3 which includes internet. Buyer is responsible for all State Sales Tax and Title Transfer Fees at close. Buyer and Buyers Agent to verify all information. Buyer to complete an application with Canterbury Estates please call them at [phone], or email [email protected] Sale is Contingent on park approval of application for buyer.

ⓘ 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 3/10 Moderate 7 d/yr ≥98°F today · 16 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: $17,148
• − Mortgage interest: −$3,355
• − Property taxes: −$898
• − Insurance: −$300
• − Repairs & maintenance: −$1,372
• − Management: −$1,372
• − Depreciation: −$1,743
• Taxable income: $8,108
• Est. tax owed @ 24.0%: −$1,946
• After-tax cash flow: $6,633/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 · 23 photos

Good 75/100 Cosmetic rehab

This home is in good condition with minor repairs needed. It is move-in ready and has a good curb appeal.

Repairs flagged

• Minor Deck — The deck appears to have some minor wear and tear.
• Minor Carpet — The carpet in the living room and kitchen appears to have some minor wear and tear.
• Minor Paint — The paint in the living room and kitchen appears to have some minor wear and tear.

Value-add opportunities

• Both Paint — Painting the interior and exterior can improve the home's curb appeal and value.
• Both Carpet — Replacing the carpet with a more modern and durable option can improve the home's value.
• Both Deck — Replacing the deck with a more durable and attractive material can improve the home's curb appeal and value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Deck · The deck appears to have some minor wear and tear.	Minor	$500–3,000
Carpet · The carpet in the living room and kitchen appears to have some minor wear and tear.	Minor	$500–3,000
Paint · The paint in the living room and kitchen appears to have some minor wear and tear.	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both Paint — Painting the interior and exterior can improve the home's curb appeal and value. ↑
• Both Carpet — Replacing the carpet with a more modern and durable option can improve the home's value. ↑
• Both Deck — Replacing the deck with a more durable and attractive material can improve the home's curb appeal and value. ↑

ⓘ 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: Ionia Public Schools
• NCES district ID: 2619250
• Math proficiency: 23% ▼ -11.00%
• Reading proficiency: 39% ▼ -8.00%
• Median HH income: $41,130
• Composite: 26.12/100
• National rank: #7283
• State rank: #353 of 540 in MI

Livability — Ionia

• Score: 71/100
• State rank: #276
• US rank: #6795

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 21,940
• Population (ZIP): 21,940

Population outlook (Ionia County) Hauer SSP2

• Today (2025): 63,958 people
• By 2030: 63,321 · -1.0%
• By 2040: 61,544 · -3.8%
• By 2050: 58,682 · -8.2%
• By 2075: 48,909 · -23.5%
• By 2100: 35,867 · -43.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Black 10% Two or more races 8% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Common ancestry: Iranian 7% Romanian 3% Italian 3%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Ionia

• 2024 margin: Solid R (+31.9) · D 33.3% · R 65.2% · Other 1.5%
• 2008→2024 swing: -26.0pp toward R · 2008: -5.8pp · 2024: -31.9pp
• All cycles: 2024: R+31.9 2020: R+30.3 2016: R+31.0 2012: R+12.8 2008: R+5.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -134.67%
• Current HPI: 247.6648
• 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

3 events — show timeline

• 2026-05-21 Listed $59,900 MiRealSource-MiMLS
• 2026-05-21 Listed $59,900 REALCOMP
• 2026-05-21 Listed $59,900 SW Michigan MLS