1048 cordoba Rd · Lake Isabella, MI 48893

$114,999

3 bd · 2.5 ba · 975 sqft · SingleFamily · 29 Days on market

Built 2001 0.33 ac lot Est $99k · 16% over $25/mo HOA · 2% 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 +19.2/30.0
• Appreciation +10.0/10.0
• DSCR +6.1/10.0
• 1% rule +4.5/10.0
• Livability +3.5/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.5/15.0

Listing remarks

Move -in Ready 2001 singlewide manufactured home featuring 3 bedrooms and 2 full baths !! This well maintained home offers fresh paint , newer roof and 2 brand new decks perfect for relaxing or entertaining. Enjoy the peaceful county views from the back yard along with two sheds for extra space. A great opportunity for a affordable style home with plenty of updates already done. Lake maintenance 30 per year to be a member with park and lake privileges its 270 a year. Enjoy all that Lake Isabella has to offer which includes 20 waterfront parks , tennis courts, boat launches, volleyball, basketball, and more! https://lipoa.org/

Key facts

• Lake privileges
• Fresh paint
• Newer roof

Tags

• FRESH PAINT
• NEWER ROOF
• NEW DECKS
• PEACEFUL COUNTY VIEWS
• TWO SHEDS
• LAKE PRIVILEGES

Property features AI

Finance

• Other: Lot size approximately 0.33 acre (frontage 55')
• HOA & community: Association for Lake Isabella with an annual fee of $300

Exterior

• Utilities: Public water; Septic system; Natural gas; Electric power (standard)
• Home design: Residential manufactured home; Single-wide manufactured body type; One-story
• Construction: Built in 2001; Piers foundation
• Exterior features: Vinyl siding; Road frontage; Located on Lake Isabella

Interior

• Bedrooms: Main-level bedroom: 14 x 12, carpet; Main-level bedroom: 10 x 9, carpet; Main-level bedroom: 7 (approx.), carpet
• Flooring: Carpet in bedrooms; Vinyl in bathrooms
• Bathrooms: Two full bathrooms (both on main level); One additional lavatory (total of three lav/baths); Bathroom flooring: vinyl
• Heating & cooling: Forced air heating; Central A/C; Natural gas heat/fuel
• Interior features: All main-level living areas

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $124 ($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 $109k (5.4% below list).
• Recommended offer: $109k (5.4% below list) — sets the bar for 1% rule.
• Cap rate 7.6% vs local median 1.4% in Lake Isabella — 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 (#329 in MI) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: schools D, amenities F, commute F.
• Chippewa Hills School District (rural): math 24% / reading 42% proficiency, ranked #324 of 540 in MI (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 79 active listings in the ZIP; 72 units permitted in Isabella County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($795 loan paydown + $12k appreciation (10.0% local appreciation)).
• Isabella County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $46k; list at $115k implies a 153% gain — meaningful room to come down on a strong offer.

Recommended offer $108,773 (5.4% 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. 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?
4. 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.
5. 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.
6. 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: 0.95% ✗
• Cap rate: 7.58%
• Cash-on-cash: 4.61%
• DSCR: 1.21
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $99,450
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1000 Vallado Dr	0.12mi	3/1.0	960 (-2%)	19mo	$74,000	$77	70
1021 Cortez Dr	0.29mi	3/2.0	1,100 (+13%)	4mo	$112,000	$102	60

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: 27.6%
• Equity multiple: 3.19×
• Total profit: $70,494
• Equity at exit: $103,600

10-year hold

• IRR: 24.1%
• Equity multiple: 7.25×
• Total profit: $201,356
• Equity at exit: $223,418

Cash invested: $32,200 (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 48893

• Home prices YoY: 6.6%
• Active inventory: 79
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,088 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$60 /mo · $715/yr
• Insurance: −$48
• HOA: −$25
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $124

Break-even live

Break-even rent $931

Max offer price $114,999

Occupancy floor 84%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $25 · $300/yr
• Likely covers: water

Listing history 17 events

1. 2026-06-16
   status $114,999 Pending 29 DOM
2. 2026-06-15
   days on market $114,999 Active 29 DOM
3. 2026-06-14
   days on market $114,999 Active 27 DOM
4. 2026-06-12
   days on market $114,999 Active 26 DOM
5. 2026-06-09
   days on market $114,999 Active 23 DOM
6. 2026-06-08
   days on market $114,999 Active 22 DOM
7. 2026-06-07
   days on market $114,999 Active 21 DOM
8. 2026-06-05
   days on market $114,999 Active 18 DOM
9. 2026-06-03
   days on market $114,999 Active 17 DOM
10. 2026-06-02
    days on market $114,999 Active 16 DOM
11. 2026-06-01
    days on market $114,999 Active 15 DOM
12. 2026-05-31
    days on market $114,999 Active 14 DOM
13. 2026-05-30
    days on market $114,999 Active 13 DOM
14. 2026-05-17
    listed $114,999 Active
15. 2023-08-30
    soldstatus $45,500
16. 2016-07-01
    soldstatus $25,000
17. 2013-09-12
    soldstatus $30,000

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

Tax reassessment forecast MI · Partial reset (capped growth)

• Current annual tax: $715 · $60/mo
• Projected year-2 tax: $1,243 · $104/mo
• Expected delta: +$528/yr (+$44/mo · 73.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,053
• − Mortgage interest: −$6,442
• − Property taxes: −$715
• − Insurance: −$575
• − Repairs & maintenance: −$1,044
• − Management: −$1,044
• − HOA: −$300
• − Depreciation: −$3,345
• Taxable loss: −$413
• Est. tax savings @ 24.0%: +$99
• After-tax cash flow: $1,584/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: Chippewa Hills School District
• NCES district ID: 2609560
• Math proficiency: 24% ▼ -10.00%
• Reading proficiency: 42% ▼ -5.00%
• Median HH income: $43,598
• Composite: 28.01/100
• National rank: #6849
• State rank: #324 of 540 in MI

Livability — Lake Isabella

• Score: 70/100
• State rank: #329
• US rank: #8104

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Isabella, MI
• Population (ZIP): 5,660

Population outlook (Isabella County) Hauer SSP2

• Today (2025): 75,111 people
• By 2030: 77,600 · +3.3%
• By 2040: 79,890 · +6.4%
• By 2050: 81,568 · +8.6%
• By 2075: 86,602 · +15.3%
• By 2100: 92,201 · +22.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 7% Hispanic / Latino 2%
• Common ancestry: Lithuanian 11% Romanian 5% Italian 2%
• Foreign-born: 1%
• Languages at home: 95% English-only · German/W. Germanic 4%

Political lean MEDSL · Isabella

• 2024 margin: Lean R (+7.5) · D 45.5% · R 53.0% · Other 1.6%
• 2008→2024 swing: -26.7pp toward R · 2008: 19.2pp · 2024: -7.5pp
• All cycles: 2024: R+7.5 2020: R+2.5 2016: R+3.7 2012: D+9.3 2008: D+19.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 23.65%
• Current HPI: 381.2
• 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

+283.3% since first listed

4 events — show timeline

• 2026-05-17 Listed $114,999 MiRealSource-MiMLS
• 2023-08-30 Sold (Public Records) $45,500 Public Records
• 2016-07-01 Sold (Public Records) $25,000 Public Records
• 2013-09-12 Sold (Public Records) $30,000 Public Records

Property tax history

-3.3%/yr

Latest (2023): $715 · +73.0% YoY. Source: county tax records.