4715 Red Leaf · Mattawan, MI 49009

$80,900

2 bd · 1.0 ba · 832 sqft · Manufactured · 31 Days on market

Built 2026 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
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• Condition / age +4.0/5.0
• Livability +3.6/5.0
• Rent growth +1.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Excuse the Mess. .. Its coming soon! Welcome to this brand new, 2 bed 1 bath home that offers the perfect blend of comfort, affordability, and modern living. This home boasts an open floor plan, new appliances. Don't miss out on the chance to make this charming and affordable residence your own.

Key facts

• Built 2026
• Listed 31 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $81k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $363 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $81k).
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.7% vs local median 2.5% in Mattawan — 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 72/100 on livability (#235 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: crime D, amenities F, commute F.
• Mattawan Consolidated School (suburban): math 51% / reading 62% proficiency, ranked #50 of 540 in MI (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: Rents falling (-5.0%/yr); 375 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 339 units permitted in Kalamazoo County in 2024 (22 in 5+ unit buildings).
• This rent is only 17% of the median local income ($81k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $559 of loan paydown is wiped out by about $2k 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 + 0.0% rent growth), your $23k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 2 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 $78,473 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 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. Crime grade is D 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?
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 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: 1.44% ✓
• Cap rate: 11.68%
• Cash-on-cash: 19.25%
• DSCR: 1.86
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 7.8%
• Equity multiple: 1.29×
• Total profit: $6,635
• Equity at exit: $12,062

10-year hold

• IRR: 14.3%
• Equity multiple: 1.99×
• Total profit: $22,431
• Equity at exit: $6,995

Cash invested: $22,652 (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 49009

• Rents YoY: -5.0%
• Active inventory: 375
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,168 medium
• Mortgage (P&I): −$424
• Tax est. 1.5%: −$101 /mo · $1,214/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $363

Break-even live

Break-even rent $708

Max offer price $80,900

Occupancy floor 64%

Sensitivity live

Price	-10% $419	-5% $391	+0% $363	+5% $336	+10% $308
Rent	-10% $271	-5% $317	+0% $363	+5% $410	+10% $456
Rate	-1.0pp $404	-0.5pp $384	base $363	+0.5pp $342	+1.0pp $321

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: $20,225
• Closing costs: $2,427
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4797 S 4th St Kalamazoo, MI	2.0–3.0	1.0–2.0	1064	$1,059	$1.00	14d	1	0.25mi

Listing history 9 events

1. 2026-06-03
   days on market $80,900 Active 31 DOM
2. 2026-06-02
   days on market $80,900 Active 30 DOM
3. 2026-06-01
   days on market $80,900 Active 29 DOM
4. 2026-05-31
   days on market $80,900 Active 28 DOM
5. 2026-05-30
   days on market $80,900 Active 27 DOM
6. 2026-05-12
   price $80,900 296-char remark

   Show marketing remark (296 chars)

   Excuse the Mess. .. Its coming soon! Welcome to this brand new, 2 bed 1 bath home that offers the perfect blend of comfort, affordability, and modern living. This home boasts an open floor plan, new appliances. Don't miss out on the chance to make this charming and affordable residence your own.

7. 2026-05-08
   status Active 296-char remark

   Show marketing remark (296 chars)

   Excuse the Mess. .. Its coming soon! Welcome to this brand new, 2 bed 1 bath home that offers the perfect blend of comfort, affordability, and modern living. This home boasts an open floor plan, new appliances. Don't miss out on the chance to make this charming and affordable residence your own.

8. 2026-04-08
   historical 296-char remark

   Show marketing remark (296 chars)

   Excuse the Mess. .. Its coming soon! Welcome to this brand new, 2 bed 1 bath home that offers the perfect blend of comfort, affordability, and modern living. This home boasts an open floor plan, new appliances. Don't miss out on the chance to make this charming and affordable residence your own.

9. 2026-04-02
   listed $79,900 Active 296-char remark

   Show marketing remark (296 chars)

   Excuse the Mess. .. Its coming soon! Welcome to this brand new, 2 bed 1 bath home that offers the perfect blend of comfort, affordability, and modern living. This home boasts an open floor plan, new appliances. Don't miss out on the chance to make this charming and affordable residence your own.

ⓘ 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: $14,013
• − Mortgage interest: −$4,532
• − Property taxes: −$1,214
• − Insurance: −$404
• − Repairs & maintenance: −$1,121
• − Management: −$1,121
• − Depreciation: −$2,353
• Taxable income: $3,268
• Est. tax owed @ 24.0%: −$784
• After-tax cash flow: $3,577/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 · 1 photo

Good 80/100 None rehab

This brand new, 2-bedroom, 1-bathroom home offers an open floor plan and modern living. It is move-in ready with new appliances and flooring.

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Install new window treatments — Enhances curb appeal and interior comfort
• Rental Add a small outdoor seating area — Improves rental appeal and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Install new window treatments — Enhances curb appeal and interior comfort ↑
• Rental Add a small outdoor seating area — Improves rental appeal and adds 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: Mattawan Consolidated School
• NCES district ID: 2623250
• Math proficiency: 51% ▼ -8.00%
• Reading proficiency: 62% ▼ -5.00%
• Median HH income: $76,525
• Composite: 50.67/100
• National rank: #1825
• State rank: #50 of 540 in MI

Livability — Mattawan

• Score: 72/100
• State rank: #235
• US rank: #5936

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Kalamazoo County · 224,317 people
• City population: 11,839
• Metro: Kalamazoo-Portage, MI
• Population (ZIP): 47,971
• Household income: $80,930
• Rent vs Own: 35.6% rent · 64.4% own
• Severe rent burden: 1579.0

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 (75%)
• Race & ethnicity: White 75% Two or more races 9% Black 8% Asian 5% Hispanic / Latino 4%
• Common ancestry: Iranian 9% Romanian 6% Lithuanian 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 88% English-only · Other Indo-European 3% Arabic 2% Spanish 2%

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: ▼ -207.34%
• Current HPI: 209.5649
• Rent YoY: ▼ -4.96%
• 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

+1.3% since first listed

4 events — show timeline

• 2026-05-12 Price Changed $80,900 Zillow
• 2026-05-08 Relisted — Zillow
• 2026-04-08 Delisted — Zillow
• 2026-04-02 Listed $79,900 Zillow