17871 3 Mile · Hersey, MI 49639

$87,900

3 bd · 2.0 ba · 980 sqft · SingleFamily · 33 Days on market

Built 1976 4.90 ac lot $90/sqft · 40% below area Est $146k · 40% under ↓ 9% since listing

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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 +20.2/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +6.4/10.0
• 1% rule +5.4/10.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

3 Bed 2 bath manufactured home sitting on just under 5 acres. This home is in its original condition, with the exception of a roof replacement in the past 10 years. updated heat system, and some new flooring as of recent. Two bedrooms are attached to bathrooms. There is a small shed on the property as well for yard storage. The property is wooded and mostly level from 3 mile rd to The white pine trail. The affidavit of affixture is in progress.

Key facts

• Mostly level
• New flooring
• Small shed

Tags

• ROOF REPLACEMENT
• UPDATED HEAT SYSTEM
• NEW FLOORING
• SMALL SHED
• WOODED
• MOSTLY LEVEL

Property features AI

Exterior

• Home design: Residential property; Other architectural style
• Construction: Built in 1976; Aluminum siding; Metal roof
• Exterior features: Wooded lot

Interior

• Kitchen: Kitchen (approximately 12 x 13)
• Bedrooms: Primary bedroom (approximately 10 x 13); Bedroom 3 (approximately 9 x 13)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating
• Interior features: Total of 7 rooms; Slab basement
• Laundry & utility: Laundry room (approximately 6 x 5)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $88k.

Deal economics

• At list price, monthly cash flow is $112 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($910 rent vs $88k).
• Recommended offer: $85k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#459 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, schools F, crime F.
• Reed City Area Public Schools (rural): math 30% / reading 39% proficiency, ranked #311 of 540 in MI (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 20 active listings in the ZIP; 5 units permitted in Osceola County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($608 loan paydown + $9k appreciation (10.0% local appreciation)).
• Osceola County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• 6 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 $85,263 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
6. 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.
7. 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.
8. 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: 1.04% ✓
• Cap rate: 7.82%
• Cash-on-cash: 5.44%
• DSCR: 1.24
• GRM: 8.0

CMA / ARV

• ARV (median comp): $145,566
• List price: $87,900
• Delta: -39.62%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
213 S Wood St	0.72mi	2/1.0 (-1)	1,106 (+13%)	6mo	$143,500	$130	31

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.2%
• Equity multiple: 3.23×
• Total profit: $54,992
• Equity at exit: $79,187

10-year hold

• IRR: 24.6%
• Equity multiple: 7.35×
• Total profit: $156,383
• Equity at exit: $170,770

Cash invested: $24,612 (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 49639

• Home prices YoY: 11.1%
• Active inventory: 20
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $910 medium
• Mortgage (P&I): −$461
• Tax est. 1.5%: −$110 /mo · $1,318/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$191
• Net cashflow: $112

Break-even live

Break-even rent $769

Max offer price $87,900

Occupancy floor 83%

Sensitivity live

Price	-10% $172	-5% $142	+0% $112	+5% $81	+10% $51
Rent	-10% $40	-5% $76	+0% $112	+5% $148	+10% $183
Rate	-1.0pp $156	-0.5pp $134	base $112	+0.5pp $89	+1.0pp $66

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: $21,975
• Closing costs: $2,637
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-05
   statusdays on market $87,900 Pending 33 DOM

   Show marketing remark (448 chars)

   3 Bed 2 bath manufactured home sitting on just under 5 acres. This home is in its original condition, with the exception of a roof replacement in the past 10 years. updated heat system, and some new flooring as of recent. Two bedrooms are attached to bathrooms. There is a small shed on the property as well for yard storage. The property is wooded and mostly level from 3 mile rd to The white pine trail. The affidavit of affixture is in progress.

2. 2026-06-04
   days on market $87,900 Active - Backup Offers Accepted 32 DOM
3. 2026-06-02
   days on market $87,900 Active - Backup Offers Accepted 31 DOM
4. 2026-06-01
   days on market $87,900 Active - Backup Offers Accepted 30 DOM
5. 2026-05-31
   days on market $87,900 Active - Backup Offers Accepted 29 DOM
6. 2026-05-31
   days on market $87,900 Active - Backup Offers Accepted 28 DOM
7. 2026-05-08
   historical Active Under Contract 448-char remark

   Show marketing remark (448 chars)

   3 Bed 2 bath manufactured home sitting on just under 5 acres. This home is in its original condition, with the exception of a roof replacement in the past 10 years. updated heat system, and some new flooring as of recent. Two bedrooms are attached to bathrooms. There is a small shed on the property as well for yard storage. The property is wooded and mostly level from 3 mile rd to The white pine trail. The affidavit of affixture is in progress.

8. 2026-05-08
   historical Accepting Backup Offers 448-char remark

   Show marketing remark (448 chars)

   3 Bed 2 bath manufactured home sitting on just under 5 acres. This home is in its original condition, with the exception of a roof replacement in the past 10 years. updated heat system, and some new flooring as of recent. Two bedrooms are attached to bathrooms. There is a small shed on the property as well for yard storage. The property is wooded and mostly level from 3 mile rd to The white pine trail. The affidavit of affixture is in progress.

9. 2026-05-08
   historical Active - Backup Offers Accepted

   Show marketing remark (448 chars)

   3 Bed 2 bath manufactured home sitting on just under 5 acres. This home is in its original condition, with the exception of a roof replacement in the past 10 years. updated heat system, and some new flooring as of recent. Two bedrooms are attached to bathrooms. There is a small shed on the property as well for yard storage. The property is wooded and mostly level from 3 mile rd to The white pine trail. The affidavit of affixture is in progress.

10. 2026-05-02
    listed $87,900 Active 448-char remark

    Show marketing remark (448 chars)

    3 Bed 2 bath manufactured home sitting on just under 5 acres. This home is in its original condition, with the exception of a roof replacement in the past 10 years. updated heat system, and some new flooring as of recent. Two bedrooms are attached to bathrooms. There is a small shed on the property as well for yard storage. The property is wooded and mostly level from 3 mile rd to The white pine trail. The affidavit of affixture is in progress.

11. 2026-05-02
    listed $87,900 Active 448-char remark

    Show marketing remark (448 chars)

    3 Bed 2 bath manufactured home sitting on just under 5 acres. This home is in its original condition, with the exception of a roof replacement in the past 10 years. updated heat system, and some new flooring as of recent. Two bedrooms are attached to bathrooms. There is a small shed on the property as well for yard storage. The property is wooded and mostly level from 3 mile rd to The white pine trail. The affidavit of affixture is in progress.

12. 2026-05-02
    listed $87,900 Active

    Show marketing remark (448 chars)

    3 Bed 2 bath manufactured home sitting on just under 5 acres. This home is in its original condition, with the exception of a roof replacement in the past 10 years. updated heat system, and some new flooring as of recent. Two bedrooms are attached to bathrooms. There is a small shed on the property as well for yard storage. The property is wooded and mostly level from 3 mile rd to The white pine trail. The affidavit of affixture is in progress.

ⓘ 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: $10,922
• − Mortgage interest: −$4,924
• − Property taxes: −$1,318
• − Insurance: −$440
• − Repairs & maintenance: −$874
• − Management: −$874
• − Depreciation: −$2,557
• Taxable loss: −$64
• Est. tax savings @ 24.0%: +$15
• After-tax cash flow: $1,354/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: Reed City Area Public Schools
• NCES district ID: 2629490
• Math proficiency: 30% ▼ -3.00%
• Reading proficiency: 39% ▲ 1.00%
• Median HH income: $38,292
• Composite: 28.78/100
• National rank: #6668
• State rank: #311 of 540 in MI

Livability — Hersey

• Score: 65/100
• State rank: #459
• US rank: #12949

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hersey, MI
• Population (ZIP): 2,420

Population outlook (Osceola County) Hauer SSP2

• Today (2025): 21,724 people
• By 2030: 20,769 · -4.4%
• By 2040: 18,720 · -13.8%
• By 2050: 16,611 · -23.5%
• By 2075: 11,942 · -45.0%
• By 2100: 7,546 · -65.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 7% Black 1% Hispanic / Latino 1%
• Common ancestry: Romanian 3% Iranian 3% Slovak 3%
• Foreign-born: 0% · Canada
• Languages at home: 97% English-only · German/W. Germanic 2%

Political lean MEDSL · Osceola

• 2024 margin: Solid R (+47.9) · D 25.2% · R 73.1% · Other 1.7%
• 2008→2024 swing: -37.7pp toward R · 2008: -10.1pp · 2024: -47.9pp
• All cycles: 2024: R+47.9 2020: R+46.3 2016: R+43.7 2012: R+21.0 2008: R+10.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 28.96%
• Current HPI: 290.4468
• Rent YoY: —
• Metro: —
• 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

-9.0% since first listed

18 events — show timeline

• 2026-06-11 Sold (MLS) $80,000 SW Michigan MLS
• 2026-06-11 Sold (MLS) $80,000 REALCOMP
• 2026-06-11 Sold (MLS) $80,000 MiRealSource-MiMLS
• 2026-06-05 Pending — REALCOMP
• 2026-06-05 Pending — MiRealSource-MiMLS
• 2026-06-05 Pending — SW Michigan MLS
• 2026-05-28 Contingent — REALCOMP
• 2026-05-28 Contingent — MiRealSource-MiMLS
• 2026-05-28 Contingent — SW Michigan MLS
• 2026-05-25 Relisted — REALCOMP
• 2026-05-25 Relisted — MiRealSource-MiMLS
• 2026-05-25 Relisted — SW Michigan MLS
• 2026-05-08 Contingent — REALCOMP
• 2026-05-08 Contingent — MiRealSource-MiMLS
• 2026-05-08 Contingent — SW Michigan MLS
• 2026-05-02 Listed $87,900 SW Michigan MLS
• 2026-05-02 Listed $87,900 REALCOMP
• 2026-05-02 Listed $87,900 MiRealSource-MiMLS