923 Stevens Trl · Monroe, MI 48161

$59,900

3 bd · 2.0 ba · 1,350 sqft · SingleFamily · 97 Days on market

Built 2003 Average condition 3,600 sqft lot $44/sqft · 53% below area $750/mo HOA · 51% of rent

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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 +12.2/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• DSCR +3.6/10.0
• Schools +3.0/10.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Very clean 3 bedroom manufactured home with 2 full baths. All appliances can be included with the sale of the home. This is a manufactured home on a rented lot in Raisin Ridge mobile home park with has a playground, community room and an inground pool.

Key facts

• Manufactured home
• Inground pool
• Community room

Tags

• MANUFACTURED HOME
• RENTED LOT
• PLAYGROUND
• COMMUNITY ROOM
• INGROUND POOL

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $60k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $-12 ($-139/yr) — negative.
• To cash-flow at today's rent, offer at most $58k (2.8% below list).
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $55k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.1% vs local median 4.0% in Monroe — 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 83/100 on livability (#51 in MI, #1,034 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, crime D+, amenities D+.
• Monroe Public Schools (suburban): math 24% / reading 47% proficiency, ranked #278 of 540 in MI (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 142 active listings in the ZIP; 264 units permitted in Monroe County in 2024 (40 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.
• Monroe County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($55k) 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 51% of rent.

Recommended offer $54,509 (9.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. 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?
9. 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.
10. 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.
11. 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: 2.44% ✓
• Cap rate: 6.06%
• Cash-on-cash: -0.83%
• DSCR: 0.96
• GRM: 3.4

CMA / ARV

• ARV (median comp): $126,645
• List price: $59,900
• Delta: -52.70%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
879 Stevens Trial	0.07mi	3/2.0	1,344 (-0%)	5mo	$30,000	$22	92
3830 Davids Lndg	0.26mi	3/2.0	1,288 (-5%)	13mo	$18,000	$14	69
1150 S Raisinville Rd	0.33mi	3/2.0	1,414 (+5%)	14mo	$185,000	$131	65

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: -16.6%
• Equity multiple: 0.41×
• Total profit: $-9,964
• Equity at exit: $8,931

10-year hold

• IRR: -6.9%
• Equity multiple: 0.54×
• Total profit: $-7,667
• 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 48161

• Active inventory: 142
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,459 medium
• Mortgage (P&I): −$314
• Tax est. 1.5%: −$75 /mo · $898/yr
• Insurance: −$25
• HOA: −$750
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $-12

Break-even live

Break-even rent $1,473

Max offer price $58,218

Occupancy floor 96%

Sensitivity live

Price	-10% $30	-5% $9	+0% $-12	+5% $-32	+10% $-53
Rent	-10% $-127	-5% $-69	+0% $-12	+5% $46	+10% $104
Rate	-1.0pp $19	-0.5pp $4	base $-12	+0.5pp $-27	+1.0pp $-43

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: —

HOA detail

• Monthly dues: $750 · $9,000/yr
• Likely covers: pool

Listing history 17 events

1. 2026-06-19
   days on market $59,900 Active 97 DOM
2. 2026-06-18
   days on market $59,900 Active 96 DOM
3. 2026-06-17
   days on market $59,900 Active 95 DOM
4. 2026-06-16
   days on market $59,900 Active 94 DOM
5. 2026-06-15
   days on market $59,900 Active 93 DOM
6. 2026-06-14
   days on market $59,900 Active 91 DOM
7. 2026-06-12
   days on market $59,900 Active 90 DOM
8. 2026-06-09
   days on market $59,900 Active 87 DOM
9. 2026-06-08
   days on market $59,900 Active 86 DOM
10. 2026-06-07
    days on market $59,900 Active 85 DOM
11. 2026-06-05
    days on market $59,900 Active 82 DOM
12. 2026-06-02
    days on market $59,900 Active 80 DOM
13. 2026-06-01
    days on market $59,900 Active 79 DOM
14. 2026-05-31
    days on market $59,900 Active 78 DOM
15. 2026-05-30
    days on market $59,900 Active 77 DOM
16. 2026-03-13
    listed $59,900 Active 252-char remark

    Show marketing remark (252 chars)

    Very clean 3 bedroom manufactured home with 2 full baths. All appliances can be included with the sale of the home. This is a manufactured home on a rented lot in Raisin Ridge mobile home park with has a playground, community room and an inground pool.

17. 2026-03-13
    listed $59,900 Active 252-char remark

    Show marketing remark (252 chars)

    Very clean 3 bedroom manufactured home with 2 full baths. All appliances can be included with the sale of the home. This is a manufactured home on a rented lot in Raisin Ridge mobile home park with has a playground, community room and an inground pool.

ⓘ 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: $17,504
• − Mortgage interest: −$3,355
• − Property taxes: −$898
• − Insurance: −$300
• − Repairs & maintenance: −$1,400
• − Management: −$1,400
• − HOA: −$9,000
• − Depreciation: −$1,743
• Taxable loss: −$593
• Est. tax savings @ 24.0%: +$142
• After-tax cash flow: $3/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

Average 55/100 Moderate rehab

This 3-bedroom manufactured home on a rented lot in Raisin Ridge mobile home park requires moderate repairs and maintenance to improve its condition and value.

Repairs flagged

• Minor exterior siding — Light discoloration
• Minor interior walls — Some wear
• Minor kitchen cabinets — Standard cabinets
• Minor bathroom fixtures — Standard fixtures

Value-add opportunities

• Resale Paint exterior siding — Enhances curb appeal
• Resale Paint interior walls — Enhances interior appearance
• Resale Replace kitchen cabinets — Modernizes kitchen
• Resale Replace bathroom fixtures — Modernizes bathroom

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Light discoloration	Minor	$500–3,000
interior walls · Some wear	Minor	$500–3,000
kitchen cabinets · Standard cabinets	Minor	$500–3,000
bathroom fixtures · Standard fixtures	Minor	$500–3,000
Total estimated repair cost · 4 items		$2,000–12,000

Value-add ROI direction

• Resale Paint exterior siding — Enhances curb appeal ↑
• Resale Paint interior walls — Enhances interior appearance ↑
• Resale Replace kitchen cabinets — Modernizes kitchen ↑
• Resale Replace bathroom fixtures — Modernizes bathroom ↑

ⓘ 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: Monroe Public Schools
• NCES district ID: 2624150
• Math proficiency: 24% ▲ 3.00%
• Reading proficiency: 47% ▲ 12.00%
• Median HH income: $46,437
• Composite: 30.33/100
• National rank: #6269
• State rank: #278 of 540 in MI

Livability — Monroe

• Score: 83/100
• State rank: #51
• US rank: #1034

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Monroe County · 54,460 people
• City population: 54,460
• Metro: Monroe, MI
• Population (ZIP): 26,304
• Household income: $67,414
• Rent vs Own: 23.6% rent · 76.4% own
• Severe rent burden: 733.0

Population outlook (Monroe County) Hauer SSP2

• Today (2025): 144,439 people
• By 2030: 140,033 · -3.1%
• By 2040: 128,408 · -11.1%
• By 2050: 115,024 · -20.4%
• By 2075: 87,273 · -39.6%
• By 2100: 63,110 · -56.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 7% Black 5% Hispanic / Latino 5%
• Common ancestry: Lithuanian 10% Romanian 8% Italian 2%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1% Arabic 1%

Political lean MEDSL · Monroe

• 2024 margin: Strong R (+27.1) · D 35.7% · R 62.9% · Other 1.4%
• 2008→2024 swing: -31.5pp toward R · 2008: 4.3pp · 2024: -27.1pp
• All cycles: 2024: R+27.1 2020: R+22.6 2016: R+22.1 2012: D+1.0 2008: D+4.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -178.99%
• Current HPI: 126.2638
• Rent YoY: —
• Metro: Monroe, 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

+0.0% since first listed

2 events — show timeline

• 2026-03-13 Listed $59,900 MiRealSource-MiMLS
• 2026-03-13 Listed $59,900 REALCOMP