3110 Old Farm Rd · Kalamazoo, MI 49004

$49,000

2 bd · 2.0 ba · 1,100 sqft · Manufactured · 32 Days on market

Built 1988 Good condition

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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 +3.8/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to easy living in the desirable 55+ community of Country Acres! This beautifully updated 2 bedroom, 2 bathroom mobile home has been extensively revamped over the last 3 years, offering peace of mind and modern comfort throughout. Updates include new carpet, HVAC system, brand new windows, water heater, range, washer, and dryer. Both bathrooms have been beautifully remodeled, and a brand new roof was installed in 2025!The spacious layout offers comfortable living with plenty of natural light and thoughtful updates at every turn. Enjoy low-maintenance living in a welcoming community while still being close to shopping, dining, and everyday conveniences. Financing options are available, and buyers must receive park approval. Don't miss your chance to own this move-in ready home!

Key facts

• Updated mobile home
• New carpet
• Water heater

Tags

• UPDATED MOBILE HOME
• NEW CARPET
• HVAC SYSTEM
• NEW WINDOWS
• WATER HEATER
• RANGE

Property features AI

Exterior

• Parking: Carport (no attached garage)
• Utilities: Public water; Natural gas water heater
• Home design: Ranch-style single-family residence; Built in 1988
• Construction: Vinyl siding; Composition roof
• Exterior features: Paved road access; Shed(s) on the property

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Has heating; Has cooling
• Interior features: Total of 7 rooms; Slab foundation (no basement)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $49k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $592 ($7k/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: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 20.8% vs local median 3.5% in Kalamazoo — 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 76/100 on livability (#141 in MI, #3,492 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, employment D-.
• Parchment School District (suburban): math 22% / reading 36% proficiency, ranked #372 of 540 in MI (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 99 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 339 units permitted in Kalamazoo County in 2024 (22 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.
• Kalamazoo County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 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 32 days — a 3% lower offer ($48k) 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.

Recommended offer $47,530 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 2.40% ✓
• Cap rate: 20.79%
• Cash-on-cash: 51.77%
• DSCR: 3.30
• GRM: 3.5

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: 49.7%
• Equity multiple: 3.17×
• Total profit: $29,780
• Equity at exit: $7,306

10-year hold

• IRR: 55.2%
• Equity multiple: 6.43×
• Total profit: $74,552
• 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 49004

• Active inventory: 99
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,178 medium
• Mortgage (P&I): −$257
• Tax est. 1.5%: −$61 /mo · $735/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $592

Break-even live

Break-even rent $429

Max offer price $49,000

Occupancy floor 45%

Sensitivity live

Price	-10% $626	-5% $609	+0% $592	+5% $575	+10% $558
Rent	-10% $499	-5% $545	+0% $592	+5% $638	+10% $685
Rate	-1.0pp $617	-0.5pp $604	base $592	+0.5pp $579	+1.0pp $566

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: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1925 Nichols Rd Kalamazoo, MI	2.0	1.0	1249	$1,199	$0.96	22d	1	0.86mi
3205 Douglas Ave Kalamazoo, MI	2.0–3.0	1.0–2.0	912	$1,169	$1.28	14d	1	0.96mi
3622 Douglas Ave Unit 3 Kalamazoo, MI	2.0	1.0	800	$1,112	$1.39	14d	1	1.19mi
3510 N Drake Rd Kalamazoo, MI	1.0–3.0	1.0–1.5	1100	$7,755	$7.05	14d	4	1.26mi

Listing history 18 events

1. 2026-06-18
   days on market $49,000 Active 32 DOM
2. 2026-06-17
   days on market $49,000 Active 31 DOM
3. 2026-06-16
   days on market $49,000 Active 30 DOM
4. 2026-06-15
   days on market $49,000 Active 29 DOM
5. 2026-06-14
   days on market $49,000 Active 27 DOM
6. 2026-06-13
   pricedays on market $49,000 Active 26 DOM
7. 2026-06-10
   days on market $50,000 Active 24 DOM
8. 2026-06-09
   days on market $50,000 Active 23 DOM
9. 2026-06-08
   days on market $50,000 Active 22 DOM
10. 2026-06-07
    days on market $50,000 Active 21 DOM
11. 2026-06-03
    days on market $50,000 Active 17 DOM
12. 2026-06-02
    days on market $50,000 Active 16 DOM
13. 2026-06-01
    days on market $50,000 Active 15 DOM
14. 2026-05-31
    days on market $50,000 Active 14 DOM
15. 2026-05-30
    days on market $50,000 Active 13 DOM
16. 2026-05-17
    listed $50,000 Active 799-char remark

    Show marketing remark (799 chars)

    Welcome home to easy living in the desirable 55+ community of Country Acres! This beautifully updated 2 bedroom, 2 bathroom mobile home has been extensively revamped over the last 3 years, offering peace of mind and modern comfort throughout. Updates include new carpet, HVAC system, brand new windows, water heater, range, washer, and dryer. Both bathrooms have been beautifully remodeled, and a brand new roof was installed in 2025!The spacious layout offers comfortable living with plenty of natural light and thoughtful updates at every turn. Enjoy low-maintenance living in a welcoming community while still being close to shopping, dining, and everyday conveniences. Financing options are available, and buyers must receive park approval. Don't miss your chance to own this move-in ready home!

17. 2026-05-17
    listed $50,000 Active

    Show marketing remark (799 chars)

    Welcome home to easy living in the desirable 55+ community of Country Acres! This beautifully updated 2 bedroom, 2 bathroom mobile home has been extensively revamped over the last 3 years, offering peace of mind and modern comfort throughout. Updates include new carpet, HVAC system, brand new windows, water heater, range, washer, and dryer. Both bathrooms have been beautifully remodeled, and a brand new roof was installed in 2025!The spacious layout offers comfortable living with plenty of natural light and thoughtful updates at every turn. Enjoy low-maintenance living in a welcoming community while still being close to shopping, dining, and everyday conveniences. Financing options are available, and buyers must receive park approval. Don't miss your chance to own this move-in ready home!

18. 2026-05-17
    listed $50,000 Active 799-char remark

    Show marketing remark (799 chars)

    Welcome home to easy living in the desirable 55+ community of Country Acres! This beautifully updated 2 bedroom, 2 bathroom mobile home has been extensively revamped over the last 3 years, offering peace of mind and modern comfort throughout. Updates include new carpet, HVAC system, brand new windows, water heater, range, washer, and dryer. Both bathrooms have been beautifully remodeled, and a brand new roof was installed in 2025!The spacious layout offers comfortable living with plenty of natural light and thoughtful updates at every turn. Enjoy low-maintenance living in a welcoming community while still being close to shopping, dining, and everyday conveniences. Financing options are available, and buyers must receive park approval. Don't miss your chance to own this move-in ready home!

ⓘ 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: $14,136
• − Mortgage interest: −$2,745
• − Property taxes: −$735
• − Insurance: −$245
• − Repairs & maintenance: −$1,131
• − Management: −$1,131
• − Depreciation: −$1,425
• Taxable income: $6,724
• Est. tax owed @ 24.0%: −$1,614
• After-tax cash flow: $5,490/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

Good 75/100 Cosmetic rehab

This mobile home is in good condition with recent updates, including a new roof and HVAC system. It offers a good investment opportunity with potential for further value enhancement through interior updates.

Value-add opportunities

• Both paint interior walls — Fresh paint can enhance the home's curb appeal and interior aesthetics
• Both replace carpet — New carpet can improve comfort and add value
• Both install new windows — New windows can improve energy efficiency and increase natural light

Renovation cost estimate screening

Value-add ROI direction

• Both paint interior walls — Fresh paint can enhance the home's curb appeal and interior aesthetics ↑
• Both replace carpet — New carpet can improve comfort and add value ↑
• Both install new windows — New windows can improve energy efficiency and increase natural light ↑

ⓘ 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: Parchment School District
• NCES district ID: 2627420
• Math proficiency: 22% ▼ -10.00%
• Reading proficiency: 36% ▼ -6.00%
• Median HH income: $49,525
• Composite: 25.27/100
• National rank: #7494
• State rank: #372 of 540 in MI

Livability — Kalamazoo

• Score: 76/100
• State rank: #141
• US rank: #3492

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Kalamazoo County · 224,317 people
• City population: 121,397
• Metro: Kalamazoo-Portage, MI
• Population (ZIP): 17,815
• Household income: $73,453
• Rent vs Own: 25.5% rent · 74.5% own
• Severe rent burden: 330.0

Population outlook (Kalamazoo County) Hauer SSP2

• Today (2025): 280,982 people
• By 2030: 292,068 · +3.9%
• By 2040: 312,191 · +11.1%
• By 2050: 331,196 · +17.9%
• By 2075: 379,021 · +34.9%
• By 2100: 396,579 · +41.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Two or more races 9% Black 8% Hispanic / Latino 5% Asian 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Iranian 10% Romanian 5% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 1% Tagalog/Filipino 1%

Political lean MEDSL · Kalamazoo

• 2024 margin: D (+17.7) · D 58.0% · R 40.3% · Other 1.7%
• 2008→2024 swing: -1.8pp toward R · 2008: 19.5pp · 2024: 17.7pp
• All cycles: 2024: D+17.7 2020: D+18.7 2016: D+12.8 2012: D+13.3 2008: D+19.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -247.79%
• Current HPI: 202.6197
• Rent YoY: —
• Metro: Kalamazoo-Portage, 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

• 2026-05-17 Listed $50,000 REALCOMP
• 2026-05-17 Listed $50,000 MiRealSource-MiMLS
• 2026-05-17 Listed $50,000 SW Michigan MLS