11608 Northern Shrs · Holland, MI 49424

$135,000

3 bd · 2.0 ba · 1,680 sqft · Manufactured · 16 Days on market

Built 2018 Good condition Est $129k · at est. $750/mo HOA · 34% of rent

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Why this score? — see what drove the C- 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 +15.4/30.0
• 1% rule +10.0/10.0
• ARV discount +5.5/15.0
• DSCR +4.7/10.0
• Livability +4.1/5.0
• Condition / age +4.0/5.0
• Schools +3.9/10.0
• Rent growth +3.8/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming home in the desirable Waverly Shores community! This 3-bedroom, 2-bath ranch-style manufactured home sits on a spaciouscorner lot, offering added privacy and extra outdoor space. Inside, you?ll find an open-concept layout designed for comfort and functionality. The beautifulkitchen features plenty of cabinet space, perfect for cooking and entertaining. Natural light fills the inviting living area, and a dedicated laundry room addseveryday convenience.

Key facts

• Corner lot
• Open-concept layout
• Community pool

Tags

• WAVERLY SHORES COMMUNITY
• CORNER LOT
• OPEN-CONCEPT LAYOUT
• KITCHEN FEATURES CABINET SPACE
• DEDICATED LAUNDRY ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $135k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $52 ($625/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $133k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.8% vs local median 2.6% in Holland — 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 82/100 on livability (#46 in MI, #1,066 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F.
• West Ottawa Public School District (suburban): math 37% / reading 52% proficiency, ranked #140 of 540 in MI (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Macatawa Bay Middle School (math 29% / reading 46%, grade F, #243 of 493 statewide, top 50%, 646 students, 65% FRL); West Ottawa High School Campus (math 39% / reading 62%, grade D+, #146 of 713 statewide, top 21%, 2,196 students, 51% FRL).
• Market conditions: Rents rising fast (+5.1%/yr); 346 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,237 units permitted in Ottawa County in 2024 (443 in 5+ unit buildings).
• This rent runs 31% of the median local income ($85k/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 $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Ottawa County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($133k) 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.

Risks & watch-outs

• Watch-outs: HOA is 34% of rent.

Recommended offer $132,975 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.63% ✓
• Cap rate: 6.76%
• Cash-on-cash: 1.65%
• DSCR: 1.07
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $129,360
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11826 Bay Hbr	0.29mi	3/2.0	1,680 (0%)	2mo	$129,900	$77	85
3236 Waverly Park	0.46mi	3/2.0	1,560 (-7%)	5mo	$75,000	$48	63
11765 Waverly Hbr	0.23mi	3/2.0	1,475 (-12%)	13mo	$135,000	$92	58

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

Projected returns pro-forma

-3.0% appreciation · 5.08% rent growth · sell at horizon

5-year hold

• IRR: -9.3%
• Equity multiple: 0.65×
• Total profit: $-13,372
• Equity at exit: $20,129

10-year hold

• IRR: 4.6%
• Equity multiple: 1.39×
• Total profit: $14,725
• Equity at exit: $11,672

Cash invested: $37,800 (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 49424

• Rents YoY: 5.1%
• Active inventory: 346
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $2,196 medium
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• HOA: −$750
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $52

Break-even live

Break-even rent $2,130

Max offer price $135,000

Occupancy floor 93%

Sensitivity live

Price	-10% $145	-5% $99	+0% $52	+5% $5	+10% $-41
Rent	-10% $-121	-5% $-35	+0% $52	+5% $139	+10% $226
Rate	-1.0pp $120	-0.5pp $86	base $52	+0.5pp $17	+1.0pp $-18

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12181 Felch St Holland, MI	1.0–3.0	1.0–2.0	890	$2,225	$2.50	4d	2	1.04mi
12340 Quincy St Holland, MI	3.0	1.0–2.0	940	$2,283	$2.43	4d	29	1.20mi
11978 Zephyr Dr Holland, MI	2.0	2.0	1188	$1,875	$1.58	4d	1	1.25mi

HOA detail

• Monthly dues: $750 · $9,000/yr

Listing history 6 events

1. 2026-04-02
   status Pending 480-char remark

   Show marketing remark (480 chars)

   Welcome to this charming home in the desirable Waverly Shores community! This 3-bedroom, 2-bath ranch-style manufactured home sits on a spaciouscorner lot, offering added privacy and extra outdoor space. Inside, you?ll find an open-concept layout designed for comfort and functionality. The beautifulkitchen features plenty of cabinet space, perfect for cooking and entertaining. Natural light fills the inviting living area, and a dedicated laundry room addseveryday convenience.

2. 2026-04-02
   status Pending 480-char remark

   Show marketing remark (480 chars)

   Welcome to this charming home in the desirable Waverly Shores community! This 3-bedroom, 2-bath ranch-style manufactured home sits on a spaciouscorner lot, offering added privacy and extra outdoor space. Inside, you?ll find an open-concept layout designed for comfort and functionality. The beautifulkitchen features plenty of cabinet space, perfect for cooking and entertaining. Natural light fills the inviting living area, and a dedicated laundry room addseveryday convenience.

3. 2026-04-02
   status Pending

   Show marketing remark (480 chars)

   Welcome to this charming home in the desirable Waverly Shores community! This 3-bedroom, 2-bath ranch-style manufactured home sits on a spaciouscorner lot, offering added privacy and extra outdoor space. Inside, you?ll find an open-concept layout designed for comfort and functionality. The beautifulkitchen features plenty of cabinet space, perfect for cooking and entertaining. Natural light fills the inviting living area, and a dedicated laundry room addseveryday convenience.

4. 2026-03-17
   listed $135,000 Active 480-char remark

   Show marketing remark (480 chars)

   Welcome to this charming home in the desirable Waverly Shores community! This 3-bedroom, 2-bath ranch-style manufactured home sits on a spaciouscorner lot, offering added privacy and extra outdoor space. Inside, you?ll find an open-concept layout designed for comfort and functionality. The beautifulkitchen features plenty of cabinet space, perfect for cooking and entertaining. Natural light fills the inviting living area, and a dedicated laundry room addseveryday convenience.

5. 2026-03-17
   listed $135,000 Active 480-char remark

   Show marketing remark (480 chars)

   Welcome to this charming home in the desirable Waverly Shores community! This 3-bedroom, 2-bath ranch-style manufactured home sits on a spaciouscorner lot, offering added privacy and extra outdoor space. Inside, you?ll find an open-concept layout designed for comfort and functionality. The beautifulkitchen features plenty of cabinet space, perfect for cooking and entertaining. Natural light fills the inviting living area, and a dedicated laundry room addseveryday convenience.

6. 2026-03-17
   listed $135,000 Active

   Show marketing remark (480 chars)

   Welcome to this charming home in the desirable Waverly Shores community! This 3-bedroom, 2-bath ranch-style manufactured home sits on a spaciouscorner lot, offering added privacy and extra outdoor space. Inside, you?ll find an open-concept layout designed for comfort and functionality. The beautifulkitchen features plenty of cabinet space, perfect for cooking and entertaining. Natural light fills the inviting living area, and a dedicated laundry room addseveryday convenience.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,355
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$675
• − Repairs & maintenance: −$2,108
• − Management: −$2,108
• − HOA: −$9,000
• − Depreciation: −$3,927
• Taxable loss: −$1,051
• Est. tax savings @ 24.0%: +$252
• After-tax cash flow: $877/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 80/100 Cosmetic rehab

This charming 3-bedroom, 2-bath manufactured home in Waverly Shores is in good condition with a good ROI potential for both resale and rental.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Clean gutters — Improves drainage and overall appearance

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Clean gutters — Improves drainage and overall appearance ↑

ⓘ 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: West Ottawa Public School District
• NCES district ID: 2635910
• Math proficiency: 37% ▼ -4.00%
• Reading proficiency: 52% ▼ -4.00%
• Median HH income: $58,127
• Composite: 38.94/100
• National rank: #4087
• State rank: #140 of 540 in MI

Livability — Holland

• Score: 82/100
• State rank: #46
• US rank: #1066

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Ottawa County · 144,142 people
• City population: 96,870
• Metro: Grand Rapids-Kentwood, MI
• Population (ZIP): 49,810
• Household income: $85,478
• Rent vs Own: 23.8% rent · 76.2% own
• Severe rent burden: 864.0

Population outlook (Ottawa County) Hauer SSP2

• Today (2025): 313,561 people
• By 2030: 330,027 · +5.3%
• By 2040: 361,118 · +15.2%
• By 2050: 388,414 · +23.9%
• By 2075: 452,175 · +44.2%
• By 2100: 473,041 · +50.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 25% Two or more races 10% Asian 6% Black 1%
• Hispanic origin (detail): Mexican 19% Puerto Rican 1%
• Common ancestry: Iranian 22% Romanian 3% Lithuanian 2%
• Foreign-born: 11% · Canada, Vietnam, South Korea
• Languages at home: 80% English-only · Spanish 15% Other Asian/Pacific 3% Vietnamese 1%

Political lean MEDSL · Ottawa

• 2024 margin: Strong R (+20.4) · D 39.0% · R 59.5% · Other 1.5%
• 2008→2024 swing: +3.4pp toward D · 2008: -23.9pp · 2024: -20.4pp
• All cycles: 2024: R+20.4 2020: R+21.5 2016: R+30.4 2012: R+34.2 2008: R+23.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -240.90%
• Current HPI: 252.5142
• Rent YoY: ▲ 5.08%
• Metro: Grand Rapids-Kentwood, 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

6 events — show timeline

• 2026-04-02 Pending — MiRealSource-MiMLS
• 2026-04-02 Pending — REALCOMP
• 2026-04-02 Pending — SW Michigan MLS
• 2026-03-17 Listed $135,000 REALCOMP
• 2026-03-17 Listed $135,000 SW Michigan MLS
• 2026-03-17 Listed $135,000 MiRealSource-MiMLS