11385 Stockwell Rd

Marion, MI 49665

$85,000C

1 bd · 1.0 ba · 540 sqft · Built 1976 · Manufactured · Pending · 30 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $769/mo
• Mortgage (P&I): −$446
• Tax + insurance: −$59
• HOA: −$0
• Vac / Maint / Mgmt: −$162
• Net cashflow: $103/mo
• Annual: $1,238/yr
• Cap rate: 7.75%
• Cash-on-cash: 5.20%
• DSCR: 1.23
• 1% rule: 0.90%
• Cash to close: $23,800

Investor read

• This is a 1-bed/1.0-bath manufactured listed at $85k.
• At list price, monthly cash flow is $103 ($1k/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 $77k (9.5% below list).
• It's been on market 30 days — a 2% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $77k (9.5% below list) — sets the bar for 1% rule.
• In year one you build about $9k of equity ($588 loan paydown + $8k appreciation (10.0% local appreciation)).
• Location reads 59/100 on livability (#607 in MI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: crime F, amenities F, commute F.
• Marion Public Schools (rural): math 33% / reading 53% proficiency, ranked #328 of 760 in MI (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Marion Elementary School (math 37% / reading 47%, grade F, #547 of 1,397 statewide, top 41%, 184 students, 80% FRL); Marion High School (math 17% / reading 42%, grade F, #441 of 713 statewide, top 64%, 235 students, 70% FRL) — zoned schools average 75% FRL vs 57% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 31 active listings in the ZIP; 77 units permitted in Clare County in 2024 (0 in 5+ unit buildings).
• Clare County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts; this cycle's ask has dropped $15k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?
• 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.