4202 N 120th Ave · Hart, MI 49420

$49,000

2 bd · 1.0 ba · 720 sqft · SingleFamily · 68 Days on market

Built 1967 2.50 ac lot ↓ 21% since listing

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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
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Single wide Mobile home in need of tlc on 2.5 acres.

Key facts

• 2.5 acre lot
• Built 1967
• Listed 68 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $49k.

Deal economics

• At list price, monthly cash flow is $499 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $49k).
• Recommended offer: $46k (6.0% below list) — sets the bar for market timing.
• Cap rate 18.5% vs local median 3.2% in Hart — 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 (#456 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: schools D, crime F, amenities F.
• Hart Public School District (town): math 18% / reading 38% proficiency, ranked #399 of 540 in MI (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 91 active listings in the ZIP; 147 units permitted in Oceana County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $339 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Oceana County population projected at -18% 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 $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($46k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $13k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $46,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is F 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. 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.
8. 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.
9. 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: 2.09% ✓
• Cap rate: 18.51%
• Cash-on-cash: 43.62%
• DSCR: 2.94
• GRM: 4.0

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: 40.5%
• Equity multiple: 2.74×
• Total profit: $23,821
• Equity at exit: $7,306

10-year hold

• IRR: 46.8%
• Equity multiple: 5.49×
• Total profit: $61,635
• Equity at exit: $4,237

Cash invested: $13,720 (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 49420

• Home prices YoY: -22.2%
• Active inventory: 91
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,024 medium
• Mortgage (P&I): −$257
• Tax from tax record: −$33 /mo · $399/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $499

Break-even live

Break-even rent $393

Max offer price $49,000

Occupancy floor 46%

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: $12,250
• Closing costs: $1,470
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-04-06
   status Pending 52-char remark

   Show marketing remark (52 chars)

   Single wide Mobile home in need of tlc on 2.5 acres.

2. 2026-04-06
   status Pending 52-char remark

   Show marketing remark (52 chars)

   Single wide Mobile home in need of tlc on 2.5 acres.

3. 2026-04-06
   status Pending

   Show marketing remark (52 chars)

   Single wide Mobile home in need of tlc on 2.5 acres.

4. 2026-03-14
   price $49,000 52-char remark

   Show marketing remark (52 chars)

   Single wide Mobile home in need of tlc on 2.5 acres.

5. 2026-03-14
   price $49,000 52-char remark

   Show marketing remark (52 chars)

   Single wide Mobile home in need of tlc on 2.5 acres.

6. 2026-03-14
   price $49,000

   Show marketing remark (52 chars)

   Single wide Mobile home in need of tlc on 2.5 acres.

7. 2026-03-06
   price $50,000 52-char remark

   Show marketing remark (52 chars)

   Single wide Mobile home in need of tlc on 2.5 acres.

8. 2026-03-06
   price $50,000 52-char remark

   Show marketing remark (52 chars)

   Single wide Mobile home in need of tlc on 2.5 acres.

9. 2026-03-06
   price $50,000

   Show marketing remark (52 chars)

   Single wide Mobile home in need of tlc on 2.5 acres.

10. 2026-02-27
    price $52,000 52-char remark

    Show marketing remark (52 chars)

    Single wide Mobile home in need of tlc on 2.5 acres.

11. 2026-02-26
    price $52,000 52-char remark

    Show marketing remark (52 chars)

    Single wide Mobile home in need of tlc on 2.5 acres.

12. 2026-02-26
    price $52,000

    Show marketing remark (52 chars)

    Single wide Mobile home in need of tlc on 2.5 acres.

13. 2026-02-19
    price $55,000 52-char remark

    Show marketing remark (52 chars)

    Single wide Mobile home in need of tlc on 2.5 acres.

14. 2026-02-18
    price $55,000 52-char remark

    Show marketing remark (52 chars)

    Single wide Mobile home in need of tlc on 2.5 acres.

15. 2026-02-18
    price $55,000

    Show marketing remark (52 chars)

    Single wide Mobile home in need of tlc on 2.5 acres.

16. 2026-02-12
    price $59,000 52-char remark

    Show marketing remark (52 chars)

    Single wide Mobile home in need of tlc on 2.5 acres.

17. 2026-02-12
    price $59,000 52-char remark

    Show marketing remark (52 chars)

    Single wide Mobile home in need of tlc on 2.5 acres.

18. 2026-02-12
    price $59,000

    Show marketing remark (52 chars)

    Single wide Mobile home in need of tlc on 2.5 acres.

19. 2026-01-28
    listed $62,000 Active 52-char remark

    Show marketing remark (52 chars)

    Single wide Mobile home in need of tlc on 2.5 acres.

20. 2026-01-28
    listed $62,000 Active 52-char remark

    Show marketing remark (52 chars)

    Single wide Mobile home in need of tlc on 2.5 acres.

21. 2026-01-28
    listed $62,000 Active

    Show marketing remark (52 chars)

    Single wide Mobile home in need of tlc on 2.5 acres.

ⓘ 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: $399 · $33/mo
• Projected year-2 tax: $577 · $48/mo
• Expected delta: +$178/yr (+$15/mo · 44.5%)

ⓘ 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 1/10 Low
• 🌡 Heat 1/10 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: $12,294
• − Mortgage interest: −$2,745
• − Property taxes: −$399
• − Insurance: −$245
• − Repairs & maintenance: −$984
• − Management: −$984
• − Depreciation: −$1,425
• Taxable income: $5,512
• Est. tax owed @ 24.0%: −$1,323
• After-tax cash flow: $4,661/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: Hart Public School District
• NCES district ID: 2617860
• Math proficiency: 18% ▼ -6.00%
• Reading proficiency: 38% ▼ -4.00%
• Median HH income: $37,795
• Composite: 23.3/100
• National rank: #7923
• State rank: #399 of 540 in MI

Livability — Hart

• Score: 65/100
• State rank: #456
• US rank: #12771

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 6,109

Population outlook (Oceana County) Hauer SSP2

• Today (2025): 25,141 people
• By 2030: 24,324 · -3.2%
• By 2040: 22,484 · -10.6%
• By 2050: 20,561 · -18.2%
• By 2075: 16,280 · -35.2%
• By 2100: 11,376 · -54.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 15% Two or more races 7% Black 2%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Iranian 7% Romanian 4% Italian 2%
• Foreign-born: 6% · Canada
• Languages at home: 88% English-only · Spanish 11%

Political lean MEDSL · Oceana

• 2024 margin: Solid R (+30.0) · D 34.2% · R 64.2% · Other 1.6%
• 2008→2024 swing: -34.4pp toward R · 2008: 4.3pp · 2024: -30.0pp
• All cycles: 2024: R+30.0 2020: R+28.1 2016: R+27.3 2012: R+10.3 2008: D+4.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -53.60%
• Current HPI: 188.1779
• 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

-21.0% since first listed

21 events — show timeline

• 2026-04-06 Pending — REALCOMP
• 2026-04-06 Pending — MiRealSource-MiMLS
• 2026-04-06 Pending — SW Michigan MLS
• 2026-03-14 Price Changed $49,000 MiRealSource-MiMLS
• 2026-03-14 Price Changed $49,000 REALCOMP
• 2026-03-14 Price Changed $49,000 SW Michigan MLS
• 2026-03-06 Price Changed $50,000 MiRealSource-MiMLS
• 2026-03-06 Price Changed $50,000 REALCOMP
• 2026-03-06 Price Changed $50,000 SW Michigan MLS
• 2026-02-27 Price Changed $52,000 MiRealSource-MiMLS
• 2026-02-26 Price Changed $52,000 REALCOMP
• 2026-02-26 Price Changed $52,000 SW Michigan MLS
• 2026-02-19 Price Changed $55,000 MiRealSource-MiMLS
• 2026-02-18 Price Changed $55,000 REALCOMP
• 2026-02-18 Price Changed $55,000 SW Michigan MLS
• 2026-02-12 Price Changed $59,000 MiRealSource-MiMLS
• 2026-02-12 Price Changed $59,000 REALCOMP
• 2026-02-12 Price Changed $59,000 SW Michigan MLS
• 2026-01-28 Listed $62,000 SW Michigan MLS
• 2026-01-28 Listed $62,000 MiRealSource-MiMLS
• 2026-01-28 Listed $62,000 REALCOMP

Property tax history

+2.2%/yr

Latest (2022): $399 · +167.3% YoY. Source: county tax records.