1281 E Pontaluna Rd #138 · Norton Shores, MI 49456

$57,900

3 bd · 1.5 ba · 845 sqft · Manufactured · 51 Days on market

Built 1984 Good condition $69/sqft · 74% below area $535/mo HOA · 30% of rent

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• Condition / age +4.0/5.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fully remodeled 1984 mobile home featuring 3 bedrooms and 1.5 bathrooms with 845 sq ft of living space. This home has been completely updated throughout, including all new paint, all new flooring, new light fixtures, new sinks, and a new toilet. All new stainless steal whirlpool appliances. Functional layout with a comfortable living area and separate kitchen/dining space. Move-in ready with no immediate work needed. Located in the Pontaluna Shores community on Lot 138. Perfect for a first-time buyer, small family. New roads being put in this summer. New playground and landscaping coming soon.

Key facts

• Updated throughout
• New sinks
• New light fixtures

Tags

• REMODELED MOBILE HOME
• UPDATED THROUGHOUT
• NEW LIGHT FIXTURES
• NEW SINKS
• NEW TOILET
• STAINLESS STEEL APPLIANCES

Property features AI

Finance

• HOA & community: Monthly association fee ($535) that includes water and trash; Has homeowners association

Exterior

• Home design: Ranch style; Residential property; Built in 1984
• Construction: Aluminum siding
• Exterior features: Public water

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating
• Interior features: 7 total rooms; Slab foundation/basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath manufactured listed at $58k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $474 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $58k).
• Recommended offer: $56k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.1% vs local median 3.0% in Norton Shores — 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 70/100 on livability (#310 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F, health & safety F.
• Grand Haven Area Public Schools (suburban): math 52% / reading 68% proficiency, ranked #42 of 540 in MI (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 214 active listings in the ZIP; solid renter incomes; 438 units permitted in Muskegon County in 2024 (115 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $400 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Muskegon County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($56k) 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 30% of rent.

Recommended offer $56,163 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 3.08% ✓
• Cap rate: 16.12%
• Cash-on-cash: 35.10%
• DSCR: 2.56
• GRM: 2.7

CMA / ARV

• ARV (median comp): $224,358
• List price: $57,900
• Delta: -74.19%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 31.0%
• Equity multiple: 2.31×
• Total profit: $21,173
• Equity at exit: $8,633

10-year hold

• IRR: 38.4%
• Equity multiple: 4.62×
• Total profit: $58,768
• Equity at exit: $5,006

Cash invested: $16,212 (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 49456

• Active inventory: 214
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,784 medium
• Mortgage (P&I): −$304
• Tax est. 1.5%: −$72 /mo · $868/yr
• Insurance: −$24
• HOA: −$535
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $474

Break-even live

Break-even rent $1,184

Max offer price $57,900

Occupancy floor 68%

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: $14,475
• Closing costs: $1,737
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $535 · $6,420/yr
• Likely covers: landscapingpool

Listing history 19 events

1. 2026-06-19
   days on market $57,900 Active 51 DOM
2. 2026-06-18
   days on market $57,900 Active 50 DOM
3. 2026-06-17
   days on market $57,900 Active 49 DOM
4. 2026-06-16
   days on market $57,900 Active 48 DOM
5. 2026-06-15
   days on market $57,900 Active 47 DOM
6. 2026-06-14
   days on market $57,900 Active 45 DOM
7. 2026-06-13
   days on market $57,900 Active 44 DOM
8. 2026-06-10
   days on market $57,900 Active 42 DOM
9. 2026-06-09
   days on market $57,900 Active 41 DOM
10. 2026-06-08
    days on market $57,900 Active 40 DOM
11. 2026-06-07
    days on market $57,900 Active 39 DOM
12. 2026-06-03
    days on market $57,900 Active 35 DOM
13. 2026-06-02
    days on market $57,900 Active 34 DOM
14. 2026-06-01
    days on market $57,900 Active 33 DOM
15. 2026-05-31
    days on market $57,900 Active 32 DOM
16. 2026-05-30
    days on market $57,900 Active 31 DOM
17. 2026-04-28
    listed $57,900 Active 629-char remark

    Show marketing remark (600 chars)

    Fully remodeled 1984 mobile home featuring 3 bedrooms and 1.5 bathrooms with 845 sq ft of living space. This home has been completely updated throughout, including all new paint, all new flooring, new light fixtures, new sinks, and a new toilet. All new stainless steal whirlpool appliances. Functional layout with a comfortable living area and separate kitchen/dining space. Move-in ready with no immediate work needed. Located in the Pontaluna Shores community on Lot 138. Perfect for a first-time buyer, small family. New roads being put in this summer. New playground and landscaping coming soon.

18. 2026-04-28
    listed $57,900 Active 601-char remark

    Show marketing remark (600 chars)

    Fully remodeled 1984 mobile home featuring 3 bedrooms and 1.5 bathrooms with 845 sq ft of living space. This home has been completely updated throughout, including all new paint, all new flooring, new light fixtures, new sinks, and a new toilet. All new stainless steal whirlpool appliances. Functional layout with a comfortable living area and separate kitchen/dining space. Move-in ready with no immediate work needed. Located in the Pontaluna Shores community on Lot 138. Perfect for a first-time buyer, small family. New roads being put in this summer. New playground and landscaping coming soon.

19. 2026-04-28
    listed $57,900 Active

    Show marketing remark (600 chars)

    Fully remodeled 1984 mobile home featuring 3 bedrooms and 1.5 bathrooms with 845 sq ft of living space. This home has been completely updated throughout, including all new paint, all new flooring, new light fixtures, new sinks, and a new toilet. All new stainless steal whirlpool appliances. Functional layout with a comfortable living area and separate kitchen/dining space. Move-in ready with no immediate work needed. Located in the Pontaluna Shores community on Lot 138. Perfect for a first-time buyer, small family. New roads being put in this summer. New playground and landscaping coming soon.

ⓘ 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: $21,407
• − Mortgage interest: −$3,243
• − Property taxes: −$868
• − Insurance: −$290
• − Repairs & maintenance: −$1,713
• − Management: −$1,713
• − HOA: −$6,420
• − Depreciation: −$1,684
• Taxable income: $5,476
• Est. tax owed @ 24.0%: −$1,314
• After-tax cash flow: $4,376/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 · 7 photos

Good 80/100 Cosmetic rehab

This fully remodeled 1984 mobile home is move-in ready with no immediate work needed. It features updated kitchens, bathrooms, and exterior, making it an attractive option for a first-time buyer or small family.

Value-add opportunities

• Both Painting exterior siding — Enhances curb appeal and value
• Both Upgrading light fixtures — Improves aesthetics and energy efficiency
• Both Adding smart home features — Enhances convenience and marketability

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior siding — Enhances curb appeal and value ↑
• Both Upgrading light fixtures — Improves aesthetics and energy efficiency ↑
• Both Adding smart home features — Enhances convenience and marketability ↑

ⓘ 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: Grand Haven Area Public Schools
• NCES district ID: 2616380
• Math proficiency: 52% ▼ -10.00%
• Reading proficiency: 68% ▼ -2.00%
• Median HH income: $56,566
• Composite: 51.64/100
• National rank: #1698
• State rank: #42 of 540 in MI

Livability — Norton Shores

• Score: 70/100
• State rank: #310
• US rank: #7620

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Norton Shores, MI
• County: Ottawa County · 144,142 people
• City population: 26,372
• Metro: Grand Rapids-Kentwood, MI
• Population (ZIP): 19,931
• Household income: $92,672
• Rent vs Own: 17.7% rent · 82.3% own
• Severe rent burden: 354.0

Population outlook (Muskegon County) Hauer SSP2

• Today (2025): 174,032 people
• By 2030: 173,365 · -0.4%
• By 2040: 168,877 · -3.0%
• By 2050: 160,306 · -7.9%
• By 2075: 134,426 · -22.8%
• By 2100: 98,836 · -43.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Iranian 17% Romanian 8% Lithuanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Muskegon

• 2024 margin: Toss-up / Even · D 48.4% · R 50.2% · Other 1.5%
• 2008→2024 swing: -31.1pp toward R · 2008: 29.3pp · 2024: -1.8pp
• All cycles: 2024: R+1.8 2020: D+0.6 2016: D+0.9 2012: D+17.8 2008: D+29.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -381.34%
• Current HPI: 391.2983
• Rent YoY: —
• 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

3 events — show timeline

• 2026-04-28 Listed $57,900 MiRealSource-MiMLS
• 2026-04-28 Listed $57,900 REALCOMP
• 2026-04-28 Listed $57,900 SW Michigan MLS