2330 Theatre Trl Lot 53 · Mount Pleasant, MI 48858

$42,500

3 bd · 2.0 ba · 720 sqft · Manufactured · 24 Days on market

Built 1994 Good condition Est $42k · at est. $425/mo HOA · 37% of rent

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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 +6.7/15.0
• Rent growth +5.0/5.0
• Livability +4.1/5.0
• Condition / age +4.0/5.0
• Schools +3.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Broadway Acres is now under new ownership and professional management! Looking for an affordable 3-bedroom, 2 full bath home? This welcoming community offers a variety of financing options to fit your needs. Enjoy clean, well-maintained grounds along with newly finished roads. Also super convenient location in Mount Pleasant. Lot rent is approximately $425/month. Please note: this is a mobile home community; no land is included in the sale. Buyer must complete park application and receive approval prior to closing. Buyers must pay a 6% sales tax and a $90.00 title transfer fee that goes to the Secretary of State. Contact the listing agent today for more information or to schedule a tour!

Key facts

• Built 1994
• Listed 24 days

Property features AI

Finance

• Other: Directions: From M20 head south on S Isabella Rd., then turn east on E Kay St. It ends on Theatre Trail; turn south
• HOA & community: Monthly HOA fee of 425.0; Has association

Exterior

• Utilities: Natural gas connected
• Home design: Ranch-style home; Residential property
• Construction: Built in 1994; Vinyl siding; Shingle roof; 720 living area
• Exterior features: Paved road access; Public water

Interior

• Kitchen: Kitchen
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3
• Bathrooms: 2 full bathrooms; Primary bathroom
• Heating & cooling: Forced air heating; Has heating
• Interior features: 6 total rooms; Slab basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $42k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $198 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $42k).
• Recommended offer: $42k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.9% vs local median 3.4% in Mount Pleasant — 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 82/100 on livability (#55 in MI, #1,063 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, health & safety A+; Watch: crime C-, employment F.
• Mt. Pleasant City School District (town): math 33% / reading 48% proficiency, ranked #229 of 540 in MI (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+16.9%/yr); 249 active listings in the ZIP; 72 units permitted in Isabella County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $294 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Isabella County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $12k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($42k) 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.

Risks & watch-outs

• Watch-outs: HOA is 37% of rent.

Recommended offer $41,862 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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: 2.73% ✓
• Cap rate: 11.87%
• Cash-on-cash: 19.93%
• DSCR: 1.89
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $41,760
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2311 Theatre Trl Lot 12	0.02mi	3/2.0	720 (0%)	1mo	$42,000	$58	98

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 22.2%
• Equity multiple: 2.02×
• Total profit: $12,108
• Equity at exit: $6,337

10-year hold

• IRR: 35.3%
• Equity multiple: 5.69×
• Total profit: $55,783
• Equity at exit: $3,675

Cash invested: $11,900 (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 48858

• Home prices YoY: -31.9%
• Rents YoY: 16.9%
• Active inventory: 249
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,160 medium
• Mortgage (P&I): −$223
• Tax est. 1.5%: −$53 /mo · $638/yr
• Insurance: −$18
• HOA: −$425
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $198

Break-even live

Break-even rent $910

Max offer price $42,500

Occupancy floor 78%

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: $10,625
• Closing costs: $1,275
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $425 · $5,100/yr
• Likely covers: landscaping

Listing history 14 events

1. 2026-06-13
   status $42,500 Pending 24 DOM
2. 2026-06-12
   days on market $42,500 Active 24 DOM
3. 2026-06-09
   days on market $42,500 Active 21 DOM
4. 2026-06-08
   days on market $42,500 Active 20 DOM
5. 2026-06-07
   days on market $42,500 Active 19 DOM
6. 2026-06-05
   days on market $42,500 Active 16 DOM
7. 2026-06-03
   days on market $42,500 Active 15 DOM
8. 2026-06-02
   days on market $42,500 Active 14 DOM
9. 2026-06-01
   days on market $42,500 Active 13 DOM
10. 2026-05-31
    days on market $42,500 Active 12 DOM
11. 2026-05-30
    days on market $42,500 Active 11 DOM
12. 2026-05-19
    listed $42,500 Active

    Show marketing remark (696 chars)

    Broadway Acres is now under new ownership and professional management! Looking for an affordable 3-bedroom, 2 full bath home? This welcoming community offers a variety of financing options to fit your needs. Enjoy clean, well-maintained grounds along with newly finished roads. Also super convenient location in Mount Pleasant. Lot rent is approximately $425/month. Please note: this is a mobile home community; no land is included in the sale. Buyer must complete park application and receive approval prior to closing. Buyers must pay a 6% sales tax and a $90.00 title transfer fee that goes to the Secretary of State. Contact the listing agent today for more information or to schedule a tour!

13. 2026-05-19
    listed $42,500 Active 696-char remark

    Show marketing remark (696 chars)

    Broadway Acres is now under new ownership and professional management! Looking for an affordable 3-bedroom, 2 full bath home? This welcoming community offers a variety of financing options to fit your needs. Enjoy clean, well-maintained grounds along with newly finished roads. Also super convenient location in Mount Pleasant. Lot rent is approximately $425/month. Please note: this is a mobile home community; no land is included in the sale. Buyer must complete park application and receive approval prior to closing. Buyers must pay a 6% sales tax and a $90.00 title transfer fee that goes to the Secretary of State. Contact the listing agent today for more information or to schedule a tour!

14. 2026-05-19
    listed $42,500 Active 696-char remark

    Show marketing remark (696 chars)

    Broadway Acres is now under new ownership and professional management! Looking for an affordable 3-bedroom, 2 full bath home? This welcoming community offers a variety of financing options to fit your needs. Enjoy clean, well-maintained grounds along with newly finished roads. Also super convenient location in Mount Pleasant. Lot rent is approximately $425/month. Please note: this is a mobile home community; no land is included in the sale. Buyer must complete park application and receive approval prior to closing. Buyers must pay a 6% sales tax and a $90.00 title transfer fee that goes to the Secretary of State. Contact the listing agent today for more information or to schedule a tour!

ⓘ 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: $13,919
• − Mortgage interest: −$2,381
• − Property taxes: −$638
• − Insurance: −$212
• − Repairs & maintenance: −$1,114
• − Management: −$1,114
• − HOA: −$5,100
• − Depreciation: −$1,236
• Taxable income: $2,125
• Est. tax owed @ 24.0%: −$510
• After-tax cash flow: $1,861/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 · 14 photos

Good 80/100 Cosmetic rehab

This mobile home is in good condition with recent updates, making it a solid investment for both resale and rental.

Value-add opportunities

• Both Painting exterior siding — Enhances curb appeal and value
• Both Landscaping improvements — Enhances curb appeal and value
• Both New flooring in living areas — Enhances aesthetics and value
• Both New kitchen appliances — Enhances functionality and value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior siding — Enhances curb appeal and value ↑
• Both Landscaping improvements — Enhances curb appeal and value ↑
• Both New flooring in living areas — Enhances aesthetics and value ↑
• Both New kitchen appliances — Enhances functionality 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: Mt. Pleasant City School District
• NCES district ID: 2624750
• Math proficiency: 33% ▼ -5.00%
• Reading proficiency: 48% ▼ -3.00%
• Median HH income: $32,344
• Composite: 33.16/100
• National rank: #5548
• State rank: #229 of 540 in MI

Livability — Mount Pleasant

• Score: 82/100
• State rank: #55
• US rank: #1063

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Isabella County · 42,226 people
• City population: 42,226
• Metro: Mount Pleasant, MI
• Population (ZIP): 42,226
• Household income: $51,267
• Rent vs Own: 50.2% rent · 49.8% own
• Severe rent burden: 2381.0

Population outlook (Isabella County) Hauer SSP2

• Today (2025): 75,111 people
• By 2030: 77,600 · +3.3%
• By 2040: 79,890 · +6.4%
• By 2050: 81,568 · +8.6%
• By 2075: 86,602 · +15.3%
• By 2100: 92,201 · +22.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Two or more races 6% Hispanic / Latino 5% Native American 4% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Romanian 6% Slovak 3% Iranian 3%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% German/W. Germanic 0%

Political lean MEDSL · Isabella

• 2024 margin: Lean R (+7.5) · D 45.5% · R 53.0% · Other 1.6%
• 2008→2024 swing: -26.7pp toward R · 2008: 19.2pp · 2024: -7.5pp
• All cycles: 2024: R+7.5 2020: R+2.5 2016: R+3.7 2012: D+9.3 2008: D+19.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -96.75%
• Current HPI: 206.1153
• Rent YoY: ▲ 16.89%
• Metro: Mount Pleasant, 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

3 events — show timeline

• 2026-05-19 Listed $42,500 MiRealSource-MiMLS
• 2026-05-19 Listed $42,500 REALCOMP
• 2026-05-19 Listed $42,500 SW Michigan MLS