N3909 Pine Mountain Rd Trlr 84

Breitung, MI 49801

$79,900D+

1 bd · 1.0 ba · 408 sqft · Built 1992 · Manufactured · Active · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $775/mo
• Mortgage (P&I): −$419
• Tax + insurance: −$189
• HOA: −$0
• Vac / Maint / Mgmt: −$163
• Net cashflow: $5/mo
• Annual: $55/yr
• Cap rate: 7.20%
• Cash-on-cash: 3.23%
• DSCR: 1.14
• 1% rule: 0.97%
• Cash to close: $22,372

Investor read

• This is a 1-bed/1.0-bath manufactured listed at $80k. Condition is rated good.
• At list price, monthly cash flow is $5 ($55/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $78k (3.0% below list).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $78k (3.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Breitung Township School District (town): math 39% / reading 55% proficiency, ranked #130 of 540 in MI (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Woodland Elementary School (math 60% / reading 54%, grade C+, #236 of 1,397 statewide, top 19%, 805 students, 48% FRL); Kingsford Middle School (math 30% / reading 53%, grade F, #192 of 493 statewide, top 39%, 576 students, 41% FRL); Kingsford High School (math 32% / reading 62%, grade D-, #187 of 713 statewide, top 29%, 591 students, 35% FRL).
• Watch-outs: flood insurance adds $56/mo.
• Market conditions: 74 active listings in the ZIP; 42 units permitted in Dickinson County in 2024 (0 in 5+ unit buildings).
• Dickinson County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: severe flood risk; moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.