16400 Upton Rd · Bath, MI 48823

$16,500

3 bd · 2.0 ba · — sqft · MultiFamily · 37 Days on market

---

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 +15.0/30.0
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.5/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

LOCATED IN DUTCH HILLS COMMUNITY THIS MANUFACTURED HOME IS A 2001 PIEDMONT. 3BEDROOM, 2 BATH. LIVING ROOM HAS NEWER FLOORING. THE AMENITIES INCLUDE: CLUBHOUSE, SWIMMING POOL, PLAYGROUND, BASKETBALL COURTS AND KEYED MAILBOXES. RENT INCLUDES: WATER/SEWER, TRASH PICK UP AND SNOW REMOVAL OF COMMUNITY ROADS.

Key facts

• Big porch
• New carpet
• New flooring

Tags

• BIG PORCH
• NEW WATER HEATER
• COMMUNITY HAS A POOL
• NEW FLOORING
• NEW CARPET

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $16k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $16k).
• Recommended offer: $16k (3.0% below list) — sets the bar for market timing.
• Cap rate 81.1% vs local median 2.0% in Bath — 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 69/100 on livability (#335 in MI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Haslett Public Schools (suburban): math 55% / reading 63% proficiency, ranked #44 of 540 in MI (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+2.4%/yr); 170 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 154 units permitted in Clinton County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($52k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $114 of loan paydown is wiped out by about $495 of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 2.4% rent growth), your $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($16k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago 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 $16,005 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 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. 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. 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?
5. 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.
6. 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.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 8.77% ✓
• Cap rate: 81.11%
• Cash-on-cash: 267.22%
• DSCR: 12.89
• GRM: 1.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.42% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 14.43×
• Total profit: $62,033
• Equity at exit: $2,460

10-year hold

• IRR: —
• Equity multiple: 30.24×
• Total profit: $135,074
• Equity at exit: $1,427

Cash invested: $4,620 (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 48823

• Rents YoY: 2.4%
• Active inventory: 170
• Price-to-rent: 1.0×

Monthly cashflow live

• Estimated rent: $1,447 medium
• Mortgage (P&I): −$87
• Tax est. 1.5%: −$21 /mo · $248/yr
• Insurance: −$7
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $1,029

Break-even live

Break-even rent $144

Max offer price $16,500

Occupancy floor 24%

Sensitivity live

Price	-10% $1,040	-5% $1,034	+0% $1,029	+5% $1,023	+10% $1,017
Rent	-10% $915	-5% $972	+0% $1,029	+5% $1,086	+10% $1,143
Rate	-1.0pp $1,037	-0.5pp $1,033	base $1,029	+0.5pp $1,025	+1.0pp $1,020

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: $4,125
• Closing costs: $495
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16400 Upton Rd East Lansing, MI	2.0–3.0	1.0–2.0	990	$1,249	$1.26	44d	1	0.04mi
6170 E Lake Dr Haslett, MI	4.0	3.0	2662	$3,950	$1.48	44d	1	1.33mi

Listing history 26 events

1. 2026-06-18
   days on market $16,500 Active 37 DOM
2. 2026-06-17
   days on market $16,500 Active 36 DOM
3. 2026-06-16
   days on market $16,500 Active 35 DOM
4. 2026-06-15
   days on market $16,500 Active 34 DOM
5. 2026-06-14
   days on market $16,500 Active 32 DOM
6. 2026-06-13
   days on market $16,500 Active 31 DOM
7. 2026-06-10
   days on market $16,500 Active 29 DOM
8. 2026-06-09
   days on market $16,500 Active 28 DOM
9. 2026-06-08
   days on market $16,500 Active 27 DOM
10. 2026-06-07
    days on market $16,500 Active 26 DOM
11. 2026-06-03
    days on market $16,500 Active 22 DOM
12. 2026-06-02
    days on market $16,500 Active 21 DOM
13. 2026-06-01
    days on market $16,500 Active 20 DOM
14. 2026-05-31
    days on market $16,500 Active 19 DOM
15. 2026-05-30
    days on market $16,500 Active 18 DOM
16. 2026-05-12
    listed $16,500 Active 582-char remark
17. 2024-01-24
    soldstatus $39,000 Sold 304-char remark

    Show marketing remark (304 chars)

    LOCATED IN DUTCH HILLS COMMUNITY THIS MANUFACTURED HOME IS A 2001 PIEDMONT. 3BEDROOM, 2 BATH. LIVING ROOM HAS NEWER FLOORING. THE AMENITIES INCLUDE: CLUBHOUSE, SWIMMING POOL, PLAYGROUND, BASKETBALL COURTS AND KEYED MAILBOXES. RENT INCLUDES: WATER/SEWER, TRASH PICK UP AND SNOW REMOVAL OF COMMUNITY ROADS.

18. 2023-12-29
    historical Accepting Backup Offers 304-char remark

    Show marketing remark (304 chars)

    LOCATED IN DUTCH HILLS COMMUNITY THIS MANUFACTURED HOME IS A 2001 PIEDMONT. 3BEDROOM, 2 BATH. LIVING ROOM HAS NEWER FLOORING. THE AMENITIES INCLUDE: CLUBHOUSE, SWIMMING POOL, PLAYGROUND, BASKETBALL COURTS AND KEYED MAILBOXES. RENT INCLUDES: WATER/SEWER, TRASH PICK UP AND SNOW REMOVAL OF COMMUNITY ROADS.

19. 2023-12-08
    soldstatus $60,000 Sold

    Show marketing remark (302 chars)

    Come take a look at this absolutely stunning property in the highly desirable Dutch Hills Mobile Park of East Lansing. This property was built in 2017, but looks brand new! With stainless steel appliances, a community center and a open pool, this unit would make the perfect place for you to call home.

20. 2023-12-08
    soldstatus $60,000 Closed

    Show marketing remark (302 chars)

    Come take a look at this absolutely stunning property in the highly desirable Dutch Hills Mobile Park of East Lansing. This property was built in 2017, but looks brand new! With stainless steel appliances, a community center and a open pool, this unit would make the perfect place for you to call home.

21. 2023-11-27
    price $39,000 304-char remark

    Show marketing remark (304 chars)

    LOCATED IN DUTCH HILLS COMMUNITY THIS MANUFACTURED HOME IS A 2001 PIEDMONT. 3BEDROOM, 2 BATH. LIVING ROOM HAS NEWER FLOORING. THE AMENITIES INCLUDE: CLUBHOUSE, SWIMMING POOL, PLAYGROUND, BASKETBALL COURTS AND KEYED MAILBOXES. RENT INCLUDES: WATER/SEWER, TRASH PICK UP AND SNOW REMOVAL OF COMMUNITY ROADS.

22. 2023-11-16
    listed $59,900 Active

    Show marketing remark (302 chars)

    Come take a look at this absolutely stunning property in the highly desirable Dutch Hills Mobile Park of East Lansing. This property was built in 2017, but looks brand new! With stainless steel appliances, a community center and a open pool, this unit would make the perfect place for you to call home.

23. 2023-11-16
    listed $59,900 Active

    Show marketing remark (302 chars)

    Come take a look at this absolutely stunning property in the highly desirable Dutch Hills Mobile Park of East Lansing. This property was built in 2017, but looks brand new! With stainless steel appliances, a community center and a open pool, this unit would make the perfect place for you to call home.

24. 2023-11-16
    historical $59,900

    Show marketing remark (302 chars)

    Come take a look at this absolutely stunning property in the highly desirable Dutch Hills Mobile Park of East Lansing. This property was built in 2017, but looks brand new! With stainless steel appliances, a community center and a open pool, this unit would make the perfect place for you to call home.

25. 2023-11-16
    historical $59,900

    Show marketing remark (302 chars)

    Come take a look at this absolutely stunning property in the highly desirable Dutch Hills Mobile Park of East Lansing. This property was built in 2017, but looks brand new! With stainless steel appliances, a community center and a open pool, this unit would make the perfect place for you to call home.

26. 2023-09-22
    listed $42,000 Active 304-char remark

    Show marketing remark (304 chars)

    LOCATED IN DUTCH HILLS COMMUNITY THIS MANUFACTURED HOME IS A 2001 PIEDMONT. 3BEDROOM, 2 BATH. LIVING ROOM HAS NEWER FLOORING. THE AMENITIES INCLUDE: CLUBHOUSE, SWIMMING POOL, PLAYGROUND, BASKETBALL COURTS AND KEYED MAILBOXES. RENT INCLUDES: WATER/SEWER, TRASH PICK UP AND SNOW REMOVAL OF COMMUNITY ROADS.

ⓘ 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: $17,359
• − Mortgage interest: −$924
• − Property taxes: −$248
• − Insurance: −$82
• − Repairs & maintenance: −$1,389
• − Management: −$1,389
• − Depreciation: −$480
• Taxable income: $12,847
• Est. tax owed @ 24.0%: −$3,083
• After-tax cash flow: $9,262/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: Haslett Public Schools
• NCES district ID: 2617940
• Math proficiency: 55% ▼ -12.00%
• Reading proficiency: 63% ▼ -10.00%
• Median HH income: $61,571
• Composite: 51.33/100
• National rank: #1739
• State rank: #44 of 540 in MI

Livability — Bath

• Score: 69/100
• State rank: #335
• US rank: #8214

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Ingham County · 237,052 people
• City population: 6,424
• Metro: Lansing-East Lansing, MI
• Population (ZIP): 50,034
• Household income: $52,018
• Rent vs Own: 57.8% rent · 42.2% own
• Severe rent burden: 5646.0

Population outlook (Clinton County) Hauer SSP2

• Today (2025): 81,490 people
• By 2030: 82,558 · +1.3%
• By 2040: 82,325 · +1.0%
• By 2050: 79,133 · -2.9%
• By 2075: 65,737 · -19.3%
• By 2100: 51,314 · -37.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Asian 9% Two or more races 8% Black 6% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 6% Iranian 3% Slovak 3%
• Foreign-born: 12% · China, Canada, South Korea
• Languages at home: 84% English-only · Chinese 4% Spanish 3% Other Indo-European 3%

Political lean MEDSL · Clinton

• 2024 margin: Lean R (+8.6) · D 44.9% · R 53.5% · Other 1.5%
• 2008→2024 swing: -9.3pp toward R · 2008: 0.7pp · 2024: -8.6pp
• All cycles: 2024: R+8.6 2020: R+6.5 2016: R+12.7 2012: R+6.2 2008: D+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -246.86%
• Current HPI: 217.5303
• Rent YoY: ▲ 2.42%
• Metro: Lansing-East Lansing, 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

-60.7% since first listed

11 events — show timeline

• 2026-05-12 Listed $16,500 FSBO.com
• 2024-01-24 Sold (MLS) $39,000 REALCOMP
• 2023-12-29 Contingent — REALCOMP
• 2023-12-08 Sold (MLS) $60,000 MiRealSource-MiMLS
• 2023-12-08 Sold (MLS) $60,000 REALCOMP
• 2023-11-27 Price Changed $39,000 REALCOMP
• 2023-11-16 Listed $59,900 MiRealSource-MiMLS
• 2023-11-16 Listed $59,900 REALCOMP
• 2023-11-16 Coming Soon $59,900 MiRealSource-MiMLS
• 2023-11-16 Coming Soon $59,900 REALCOMP
• 2023-09-22 Listed $42,000 REALCOMP