8751 Old Elm Ln · Newaygo, MI 49337

$34,900

2 bd · 1.0 ba · 600 sqft · Manufactured · 196 Days on market

Built 1967 Average condition $58/sqft · 6% above area Est $33k · 6% over $435/mo HOA · 49% of rent ↓ 13% 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 +18.1/30.0
• 1% rule +10.0/10.0
• DSCR +5.7/10.0
• ARV discount +4.8/15.0
• Livability +3.2/5.0
• Condition / age +2.8/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Tucked away in a friendly park community, this charming older single-wide mobile home offers two cozy bedrooms and one full bathroom featuring a convenient walk-in shower. The home boasts a functional kitchen with all appliances included, making your move-in seamless. Enjoy the beautiful Michigan seasons from your large covered deck, perfect for relaxing or entertaining. Additional storage is provided by an included shed. Best of all, you'll have shared access to Hess Lake right across the street, ideal for fishing, kayaking, or enjoying the sunset! Its location is incredibly convenient, being close to town for all your shopping and dining needs. Don't miss out on this excellent chance to own property with lakeside amenities!BUYER PAYS SALES TAX AND TITLE TRANSFERBUYER ALSO HAS TO BE APPROVED BY THE PARK

Key facts

• Functional kitchen
• Close to town
• Included shed

Tags

• WALK-IN SHOWER
• FUNCTIONAL KITCHEN
• LARGE COVERED DECK
• INCLUDED SHED
• SHARED ACCESS TO HESS LAKE
• CLOSE TO TOWN

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $35k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $31 ($370/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($895 rent vs $35k).
• Recommended offer: $31k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 3.3% in Newaygo — 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 65/100 on livability (#470 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: schools C-, crime D, amenities D-.
• Newaygo Public School District (town): math 23% / reading 40% proficiency, ranked #349 of 540 in MI (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 108 active listings in the ZIP; 155 units permitted in Newaygo County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $241 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Newaygo County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 196 days — a 12% lower offer ($31k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $5k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 49% of rent.

Recommended offer $30,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 196 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
7. 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?
8. 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.
9. 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.
10. 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: 2.56% ✓
• Cap rate: 7.35%
• Cash-on-cash: 3.79%
• DSCR: 1.17
• GRM: 3.2

CMA / ARV

• ARV (median comp): $32,936
• List price: $34,900
• Delta: 5.96%
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8758 S Old Oak Ln	0.04mi	1/1.0 (-1)	636 (+6%)	12mo	$38,000	$60	73

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: -9.5%
• Equity multiple: 0.65×
• Total profit: $-3,408
• Equity at exit: $5,204

10-year hold

• IRR: 1.0%
• Equity multiple: 1.07×
• Total profit: $705
• Equity at exit: $3,018

Cash invested: $9,772 (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 49337

• Home prices YoY: -16.9%
• Active inventory: 108
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $895 medium
• Mortgage (P&I): −$183
• Tax est. 1.5%: −$44 /mo · $524/yr
• Insurance: −$15
• HOA: −$435
• Vacancy / Maint / Mgmt: −$188
• Net cashflow: $31

Break-even live

Break-even rent $856

Max offer price $34,900

Occupancy floor 92%

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: $8,725
• Closing costs: $1,047
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $435 · $5,220/yr

Listing history 15 events

1. 2026-06-09
   status $34,900 Pending 196 DOM
2. 2026-06-08
   days on market $34,900 Active 196 DOM
3. 2026-06-07
   days on market $34,900 Active 195 DOM
4. 2026-06-07
   days on market $34,900 Active 194 DOM
5. 2026-06-04
   days on market $34,900 Active 191 DOM
6. 2026-06-02
   days on market $34,900 Active 190 DOM
7. 2026-06-01
   days on market $34,900 Active 189 DOM
8. 2026-05-31
   days on market $34,900 Active 188 DOM
9. 2026-05-31
   days on market $34,900 Active 187 DOM
10. 2026-04-29
    price $34,900 815-char remark

    Show marketing remark (815 chars)

    Tucked away in a friendly park community, this charming older single-wide mobile home offers two cozy bedrooms and one full bathroom featuring a convenient walk-in shower. The home boasts a functional kitchen with all appliances included, making your move-in seamless. Enjoy the beautiful Michigan seasons from your large covered deck, perfect for relaxing or entertaining. Additional storage is provided by an included shed. Best of all, you'll have shared access to Hess Lake right across the street, ideal for fishing, kayaking, or enjoying the sunset! Its location is incredibly convenient, being close to town for all your shopping and dining needs. Don't miss out on this excellent chance to own property with lakeside amenities!BUYER PAYS SALES TAX AND TITLE TRANSFERBUYER ALSO HAS TO BE APPROVED BY THE PARK

11. 2026-04-28
    price $34,900 815-char remark

    Show marketing remark (815 chars)

    Tucked away in a friendly park community, this charming older single-wide mobile home offers two cozy bedrooms and one full bathroom featuring a convenient walk-in shower. The home boasts a functional kitchen with all appliances included, making your move-in seamless. Enjoy the beautiful Michigan seasons from your large covered deck, perfect for relaxing or entertaining. Additional storage is provided by an included shed. Best of all, you'll have shared access to Hess Lake right across the street, ideal for fishing, kayaking, or enjoying the sunset! Its location is incredibly convenient, being close to town for all your shopping and dining needs. Don't miss out on this excellent chance to own property with lakeside amenities!BUYER PAYS SALES TAX AND TITLE TRANSFERBUYER ALSO HAS TO BE APPROVED BY THE PARK

12. 2026-04-28
    price $34,900

    Show marketing remark (815 chars)

    Tucked away in a friendly park community, this charming older single-wide mobile home offers two cozy bedrooms and one full bathroom featuring a convenient walk-in shower. The home boasts a functional kitchen with all appliances included, making your move-in seamless. Enjoy the beautiful Michigan seasons from your large covered deck, perfect for relaxing or entertaining. Additional storage is provided by an included shed. Best of all, you'll have shared access to Hess Lake right across the street, ideal for fishing, kayaking, or enjoying the sunset! Its location is incredibly convenient, being close to town for all your shopping and dining needs. Don't miss out on this excellent chance to own property with lakeside amenities!BUYER PAYS SALES TAX AND TITLE TRANSFERBUYER ALSO HAS TO BE APPROVED BY THE PARK

13. 2025-11-25
    listed $39,900 Active 815-char remark

    Show marketing remark (815 chars)

    Tucked away in a friendly park community, this charming older single-wide mobile home offers two cozy bedrooms and one full bathroom featuring a convenient walk-in shower. The home boasts a functional kitchen with all appliances included, making your move-in seamless. Enjoy the beautiful Michigan seasons from your large covered deck, perfect for relaxing or entertaining. Additional storage is provided by an included shed. Best of all, you'll have shared access to Hess Lake right across the street, ideal for fishing, kayaking, or enjoying the sunset! Its location is incredibly convenient, being close to town for all your shopping and dining needs. Don't miss out on this excellent chance to own property with lakeside amenities!BUYER PAYS SALES TAX AND TITLE TRANSFERBUYER ALSO HAS TO BE APPROVED BY THE PARK

14. 2025-11-24
    listed $39,900 Active 815-char remark

    Show marketing remark (815 chars)

    Tucked away in a friendly park community, this charming older single-wide mobile home offers two cozy bedrooms and one full bathroom featuring a convenient walk-in shower. The home boasts a functional kitchen with all appliances included, making your move-in seamless. Enjoy the beautiful Michigan seasons from your large covered deck, perfect for relaxing or entertaining. Additional storage is provided by an included shed. Best of all, you'll have shared access to Hess Lake right across the street, ideal for fishing, kayaking, or enjoying the sunset! Its location is incredibly convenient, being close to town for all your shopping and dining needs. Don't miss out on this excellent chance to own property with lakeside amenities!BUYER PAYS SALES TAX AND TITLE TRANSFERBUYER ALSO HAS TO BE APPROVED BY THE PARK

15. 2025-11-24
    listed $39,900 Active

    Show marketing remark (815 chars)

    Tucked away in a friendly park community, this charming older single-wide mobile home offers two cozy bedrooms and one full bathroom featuring a convenient walk-in shower. The home boasts a functional kitchen with all appliances included, making your move-in seamless. Enjoy the beautiful Michigan seasons from your large covered deck, perfect for relaxing or entertaining. Additional storage is provided by an included shed. Best of all, you'll have shared access to Hess Lake right across the street, ideal for fishing, kayaking, or enjoying the sunset! Its location is incredibly convenient, being close to town for all your shopping and dining needs. Don't miss out on this excellent chance to own property with lakeside amenities!BUYER PAYS SALES TAX AND TITLE TRANSFERBUYER ALSO HAS TO BE APPROVED BY THE PARK

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,740
• − Mortgage interest: −$1,955
• − Property taxes: −$524
• − Insurance: −$174
• − Repairs & maintenance: −$859
• − Management: −$859
• − HOA: −$5,220
• − Depreciation: −$1,015
• Taxable income: $133
• Est. tax owed @ 24.0%: −$32
• After-tax cash flow: $338/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 Cosmetic rehab

This charming single-wide mobile home offers two bedrooms and one bathroom, with a functional kitchen and a large covered deck. While it's in average condition, it has potential for cosmetic updates to increase its resale and rental value.

Repairs flagged

• Minor Paint — Painted walls show some wear.
• Minor Flooring — Carpeted floors show some wear.
• Minor Kitchen cabinets — Dated cabinetry and countertops need updating.
• Minor Bathroom fixtures — Dated fixtures in the bathroom need updating.
• Minor Exterior siding — Weathered siding needs touch-up or repainting.
• Minor Landscaping — Basic landscaping, some overgrown areas need trimming and planting.

Value-add opportunities

• Both Painting and updating kitchen cabinets — Enhances curb appeal and interior aesthetics.
• Both Updating bathroom fixtures — Improves functionality and aesthetics.
• Both Landscaping and planting — Enhances curb appeal and adds value.
• Rental HVAC maintenance — Ensures comfort and energy efficiency for tenants.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint · Painted walls show some wear.	Minor	$500–3,000
Flooring · Carpeted floors show some wear.	Minor	$500–3,000
Kitchen cabinets · Dated cabinetry and countertops need updating.	Minor	$500–3,000
Bathroom fixtures · Dated fixtures in the bathroom need updating.	Minor	$500–3,000
Exterior siding · Weathered siding needs touch-up or repainting.	Minor	$500–3,000
Landscaping · Basic landscaping, some overgrown areas need trimming and planting.	Minor	$500–3,000
Total estimated repair cost · 6 items		$3,000–18,000

Value-add ROI direction

• Both Painting and updating kitchen cabinets — Enhances curb appeal and interior aesthetics. ↑
• Both Updating bathroom fixtures — Improves functionality and aesthetics. ↑
• Both Landscaping and planting — Enhances curb appeal and adds value. ↑
• Rental HVAC maintenance — Ensures comfort and energy efficiency for tenants. ↑

ⓘ 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: Newaygo Public School District
• NCES district ID: 2625320
• Math proficiency: 23% ▼ -8.00%
• Reading proficiency: 40% ▲ 1.00%
• Median HH income: $41,018
• Composite: 26.52/100
• National rank: #7199
• State rank: #349 of 540 in MI

Livability — Newaygo

• Score: 65/100
• State rank: #470
• US rank: #13352

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 13,030

Population outlook (Newaygo County) Hauer SSP2

• Today (2025): 46,371 people
• By 2030: 44,879 · -3.2%
• By 2040: 41,107 · -11.4%
• By 2050: 36,800 · -20.6%
• By 2075: 27,507 · -40.7%
• By 2100: 18,600 · -59.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 7% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Iranian 14% Romanian 5% Lithuanian 4%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Newaygo

• 2024 margin: Solid R (+42.8) · D 27.9% · R 70.7% · Other 1.5%
• 2008→2024 swing: -38.2pp toward R · 2008: -4.6pp · 2024: -42.8pp
• All cycles: 2024: R+42.8 2020: R+40.4 2016: R+39.6 2012: R+17.4 2008: R+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -62.83%
• Current HPI: 310.1533
• 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

-12.5% since first listed

6 events — show timeline

• 2026-04-29 Price Changed $34,900 MiRealSource-MiMLS
• 2026-04-28 Price Changed $34,900 REALCOMP
• 2026-04-28 Price Changed $34,900 SW Michigan MLS
• 2025-11-25 Listed $39,900 REALCOMP
• 2025-11-24 Listed $39,900 SW Michigan MLS
• 2025-11-24 Listed $39,900 MiRealSource-MiMLS