2490 Fawn Ct · Richfield, MI 48656

$64,900

3 bd · 1.0 ba · 684 sqft · Manufactured public records · 9 Days on market

Built 1969 0.28 ac 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
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• ARV discount +7.5/15.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Tucked away at the end of a quiet cul-de-sac, this manufactured home offers a fantastic opportunity to add your own updates and build instant equity! The layout features 2 bedrooms and 1.5 baths, plus an attached 8x10 addition that serves as a flexible bedroom and laundry room combination. Enjoy a private backyard setting from the 20' x 8.5' covered front deck. A standout feature for hobbyists is the 1.5-car detached garage equipped with electricity, concrete floors, and a connected 13' x 7' workshop heated by a cozy wood stove. Propane wall furnace heat with a natural gas line already run to the home for an easy conversion. Perfectly located near town, local trail systems, and all-sports Lake St. Helen. All appliances are included. Cash sale only! Schedule your showing today to see the potential!

Key facts

• Private backyard
• Propane wall furnace
• Covered front deck

Tags

• PRIVATE BACKYARD
• COVERED FRONT DECK
• DETACHED GARAGE
• WORKSHOP
• PROPANE WALL FURNACE
• NATURAL GAS LINE

Property features AI

Finance

• Other: Subdivision: Richfield Estates; Lot dimensions approximately 150 x 81 (0.28 acre)
• HOA & community: Homeowners association present

Exterior

• Parking: Detached garage (1.5 car)
• Utilities: Private well water; Septic tank
• Home design: Single-family residence; One level
• Construction: Aluminum siding
• Exterior features: Deck; Porch; Located on a cul-de-sac; Irregular-shaped lot; Paved, publicly maintained road

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced-air heating (natural gas and propane capable); Wall/window cooling unit(s)
• Interior features: Electric water heater; Total of 5 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $65k.

Deal economics

• At list price, monthly cash flow is $308 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($938 rent vs $65k).

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Roscommon Area Public Schools (rural): math 30% / reading 44% proficiency, ranked #270 of 540 in MI (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 76 active listings in the ZIP; 73 units permitted in Roscommon County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Roscommon County population projected at -21% 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 $18k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 4y 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.
• Current owner paid $50k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $64,900

Questions for the listing agent

1. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.44% ✓
• Cap rate: 11.99%
• Cash-on-cash: 20.36%
• DSCR: 1.91
• GRM: 5.8

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: 12.6%
• Equity multiple: 1.50×
• Total profit: $9,122
• Equity at exit: $9,677

10-year hold

• IRR: 21.5%
• Equity multiple: 2.83×
• Total profit: $33,242
• Equity at exit: $5,611

Cash invested: $18,172 (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 48656

• Home prices YoY: -8.6%
• Active inventory: 76
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $938 medium
• Mortgage (P&I): −$340
• Tax from tax record: −$65 /mo · $781/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$197
• Net cashflow: $308

Break-even live

Break-even rent $547

Max offer price $64,900

Occupancy floor 62%

Sensitivity live

Price	-10% $345	-5% $327	+0% $308	+5% $290	+10% $272
Rent	-10% $234	-5% $271	+0% $308	+5% $345	+10% $382
Rate	-1.0pp $341	-0.5pp $325	base $308	+0.5pp $291	+1.0pp $274

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-21
   days on market $64,900 Active 9 DOM
2. 2026-06-18
   days on market $64,900 Active 7 DOM
3. 2026-06-17
   days on market $64,900 Active 6 DOM
4. 2026-06-16
   days on market $64,900 Active 5 DOM
5. 2026-06-15
   days on market $64,900 Active 4 DOM
6. 2026-06-13
   days on market $64,900 Active 2 DOM
7. 2026-06-12
   remarks 699-char remark
8. 2026-06-12
   listed $64,900 Active 1 DOM

ⓘ 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: $781 · $65/mo
• Projected year-2 tax: $890 · $74/mo
• Expected delta: +$109/yr (+$9/mo · 14.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 1/10 Low 7 d/yr ≥93°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,252
• − Mortgage interest: −$3,635
• − Property taxes: −$781
• − Insurance: −$324
• − Repairs & maintenance: −$900
• − Management: −$900
• − Depreciation: −$1,888
• Taxable income: $2,823
• Est. tax owed @ 24.0%: −$677
• After-tax cash flow: $3,022/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: Roscommon Area Public Schools
• NCES district ID: 2615830
• Math proficiency: 30% ▼ -11.00%
• Reading proficiency: 44% ▼ -2.00%
• Median HH income: $36,914
• Composite: 30.7/100
• National rank: #6172
• State rank: #270 of 540 in MI

Livability — Richfield

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: St. Helen, MI
• Population (ZIP): 3,872

Population outlook (Roscommon County) Hauer SSP2

• Today (2025): 22,249 people
• By 2030: 21,206 · -4.7%
• By 2040: 19,070 · -14.3%
• By 2050: 17,564 · -21.1%
• By 2075: 15,420 · -30.7%
• By 2100: 13,168 · -40.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 2% Black 1% Asian 1%
• Common ancestry: Lithuanian 7% Romanian 7% Slovak 3%
• Foreign-born: 2% · China
• Languages at home: 97% English-only · Spanish 1% Chinese 1% German/W. Germanic 1%

Political lean MEDSL · Roscommon

• 2024 margin: Solid R (+32.9) · D 32.9% · R 65.9% · Other 1.2%
• 2008→2024 swing: -35.5pp toward R · 2008: 2.5pp · 2024: -32.9pp
• All cycles: 2024: R+32.9 2020: R+30.0 2016: R+29.6 2012: R+3.9 2008: D+2.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -29.98%
• Current HPI: 319.603
• 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

+10.9% since first listed

5 events — show timeline

• 2026-06-11 Listed $64,900 REALCOMP
• 2026-06-10 Listed $64,900 MiRealSource-MiMLS
• 2022-08-26 Sold (Public Records) $50,000 Public Records
• 2022-08-24 Sold (MLS) $50,000 WWMLS
• 2022-07-01 Listed $58,500 WWMLS

Property tax history

+5.1%/yr

Latest (2025): $781 · +3.3% YoY. Source: county tax records.