4903 Winesap Dr · Wolf Lake, MI 49442

$70,000

3 bd · 2.0 ba · 1,298 sqft · Manufactured · 30 Days on market

Built 1987 Good condition $54/sqft · 35% above area Est $52k · 35% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.6/5.0
• Condition / age +3.8/5.0
• Livability +3.0/5.0
• Schools +2.4/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 months FREE lot Rent offered by the seller!! Are you renting and paying someone else's mortgage??? Why not start investing in YOU! For less than rent, you can own this partially furnished and deceptively spacious 3bed/2bath home located in Apple Carr, that has been recently updated with new flooring, paint, kitchen refresh with tons of storage, a new vanity in the main bathroom, newer water heater and a new roof. The vaulted ceilings with wood beams add warmth and style too. One of the very few homes that has a 2 car covered carport, 2 porches big enough to enjoy some outdoor time and a rear patio for lounging. The large shed is equipped with power for extra storage, a workshop or hobby room. So many great features not seen in most neighboring homes. Come check it out today and imagine how home ownership can be a reality. Must be approved by the park. Call today for your private showing and to discuss lending options.

Key facts

• New vanity
• 2 porches
• New flooring

Tags

• NEW FLOORING
• KITCHEN REFRESH
• NEW VANITY
• NEW ROOF
• 2 CAR COVERED CARPORT
• 2 PORCHES

Property features AI

Finance

• HOA & community: Community amenities include clubhouse, fitness center, meeting room, playground and pool; Pets allowed; Has an association

Exterior

• Parking: No attached garage; Has a carport
• Utilities: Public water; Natural gas connected; Natural gas water heater
• Home design: Ranch-style home; Single-story; Residential property
• Construction: Built in 1987; Vinyl siding exterior; Metal and shingle roof
• Exterior features: Paved road access; Shed(s) on the property

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator
• Bedrooms: Primary bedroom; Two additional bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Wall-mounted cooling units
• Interior features: Storm windows, skylights, window screens and window treatments; 8 total rooms; Slab foundation (no basement)
• Laundry & utility: Washer and dryer; Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $70k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $691 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $69k (1.5% below list) — sets the bar for market timing.
• Cap rate 18.1% vs local median 4.0% in Wolf Lake — 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 60/100 on livability (#594 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools F, amenities F, commute F.
• Oakridge Public Schools (suburban): math 17% / reading 40% proficiency, ranked #389 of 540 in MI (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+8.2%/yr); 289 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 438 units permitted in Muskegon County in 2024 (115 in 5+ unit buildings).
• This rent runs 37% of the median local income ($49k/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 $484 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 + 8.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($69k) 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.

Recommended offer $68,950 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
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: 2.12% ✓
• Cap rate: 18.14%
• Cash-on-cash: 42.33%
• DSCR: 2.88
• GRM: 3.9

CMA / ARV

• ARV (median comp): $51,800
• List price: $70,000
• Delta: 35.14%
• Verdict: OVERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4903 Winesap Dr	0.00mi	3/2.0	1,298 (0%)	0mo	$60,000	$46	100
609 Carr Rd	0.25mi	3/2.0	1,336 (+3%)	4mo	$51,600	$39	81
796 Strawberry Ln	0.44mi	3/2.0	1,295 (-0%)	2mo	$59,900	$46	77
581 Taffy Ln	0.19mi	3/2.0	1,174 (-10%)	1mo	$52,000	$44	74
4825 Pullman Ave	0.28mi	3/2.0	1,197 (-8%)	1mo	$49,000	$41	73
4883 Russet Ave	0.54mi	3/2.0	1,456 (+12%)	4mo	$93,000	$64	52

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 44.6%
• Equity multiple: 3.07×
• Total profit: $40,574
• Equity at exit: $10,437

10-year hold

• IRR: 52.8%
• Equity multiple: 7.53×
• Total profit: $127,901
• Equity at exit: $6,052

Cash invested: $19,600 (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 49442

• Rents YoY: 8.2%
• Active inventory: 289
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,487 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$88 /mo · $1,050/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $691

Break-even live

Break-even rent $612

Max offer price $70,000

Occupancy floor 49%

Sensitivity live

Price	-10% $740	-5% $716	+0% $691	+5% $667	+10% $643
Rent	-10% $574	-5% $633	+0% $691	+5% $750	+10% $809
Rate	-1.0pp $727	-0.5pp $709	base $691	+0.5pp $673	+1.0pp $655

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
516 Courtland Ln Muskegon, MI	3.0	2.0	1223	$1,414	$1.16	3d	1	0.09mi
4505 E Apple Ave Muskegon, MI	3.0	1.0	1410	$1,550	$1.10	44d	1	0.80mi

Listing history 12 events

1. 2026-06-13
   statusdays on market $70,000 Pending 30 DOM

   Show marketing remark (933 chars)

   3 months FREE lot Rent offered by the seller!! Are you renting and paying someone else's mortgage??? Why not start investing in YOU! For less than rent, you can own this partially furnished and deceptively spacious 3bed/2bath home located in Apple Carr, that has been recently updated with new flooring, paint, kitchen refresh with tons of storage, a new vanity in the main bathroom, newer water heater and a new roof. The vaulted ceilings with wood beams add warmth and style too. One of the very few homes that has a 2 car covered carport, 2 porches big enough to enjoy some outdoor time and a rear patio for lounging. The large shed is equipped with power for extra storage, a workshop or hobby room. So many great features not seen in most neighboring homes. Come check it out today and imagine how home ownership can be a reality. Must be approved by the park. Call today for your private showing and to discuss lending options.

2. 2026-06-10
   days on market $70,000 Active 28 DOM
3. 2026-06-09
   days on market $70,000 Active 27 DOM
4. 2026-06-08
   days on market $70,000 Active 26 DOM
5. 2026-06-07
   days on market $70,000 Active 25 DOM
6. 2026-06-02
   days on market $70,000 Active 20 DOM
7. 2026-06-01
   days on market $70,000 Active 19 DOM
8. 2026-05-31
   days on market $70,000 Active 18 DOM
9. 2026-05-30
   days on market $70,000 Active 17 DOM
10. 2026-05-13
    listed $70,000 Active 825-char remark

    Show marketing remark (933 chars)

    3 months FREE lot Rent offered by the seller!! Are you renting and paying someone else's mortgage??? Why not start investing in YOU! For less than rent, you can own this partially furnished and deceptively spacious 3bed/2bath home located in Apple Carr, that has been recently updated with new flooring, paint, kitchen refresh with tons of storage, a new vanity in the main bathroom, newer water heater and a new roof. The vaulted ceilings with wood beams add warmth and style too. One of the very few homes that has a 2 car covered carport, 2 porches big enough to enjoy some outdoor time and a rear patio for lounging. The large shed is equipped with power for extra storage, a workshop or hobby room. So many great features not seen in most neighboring homes. Come check it out today and imagine how home ownership can be a reality. Must be approved by the park. Call today for your private showing and to discuss lending options.

11. 2026-05-13
    listed $70,000 Active 824-char remark

    Show marketing remark (933 chars)

    3 months FREE lot Rent offered by the seller!! Are you renting and paying someone else's mortgage??? Why not start investing in YOU! For less than rent, you can own this partially furnished and deceptively spacious 3bed/2bath home located in Apple Carr, that has been recently updated with new flooring, paint, kitchen refresh with tons of storage, a new vanity in the main bathroom, newer water heater and a new roof. The vaulted ceilings with wood beams add warmth and style too. One of the very few homes that has a 2 car covered carport, 2 porches big enough to enjoy some outdoor time and a rear patio for lounging. The large shed is equipped with power for extra storage, a workshop or hobby room. So many great features not seen in most neighboring homes. Come check it out today and imagine how home ownership can be a reality. Must be approved by the park. Call today for your private showing and to discuss lending options.

12. 2026-05-13
    listed $70,000 Active

    Show marketing remark (933 chars)

    3 months FREE lot Rent offered by the seller!! Are you renting and paying someone else's mortgage??? Why not start investing in YOU! For less than rent, you can own this partially furnished and deceptively spacious 3bed/2bath home located in Apple Carr, that has been recently updated with new flooring, paint, kitchen refresh with tons of storage, a new vanity in the main bathroom, newer water heater and a new roof. The vaulted ceilings with wood beams add warmth and style too. One of the very few homes that has a 2 car covered carport, 2 porches big enough to enjoy some outdoor time and a rear patio for lounging. The large shed is equipped with power for extra storage, a workshop or hobby room. So many great features not seen in most neighboring homes. Come check it out today and imagine how home ownership can be a reality. Must be approved by the park. Call today for your private showing and to discuss lending options.

ⓘ 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: $17,850
• − Mortgage interest: −$3,921
• − Property taxes: −$1,050
• − Insurance: −$350
• − Repairs & maintenance: −$1,428
• − Management: −$1,428
• − Depreciation: −$2,036
• Taxable income: $7,636
• Est. tax owed @ 24.0%: −$1,833
• After-tax cash flow: $6,464/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 · 22 photos

Good 75/100 Cosmetic rehab

This 3-bedroom, 2-bathroom home is in good condition with recent updates, making it a great investment opportunity.

Value-add opportunities

• Both Paint the exterior — Enhances curb appeal and value
• Both Replace the ceiling fans — Improves aesthetics and energy efficiency
• Both Install new lighting fixtures — Enhances aesthetics and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior — Enhances curb appeal and value ↑
• Both Replace the ceiling fans — Improves aesthetics and energy efficiency ↑
• Both Install new lighting fixtures — Enhances aesthetics and energy efficiency ↑

ⓘ 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: Oakridge Public Schools
• NCES district ID: 2626220
• Math proficiency: 17% ▼ -8.00%
• Reading proficiency: 40% ▼ -4.00%
• Median HH income: $41,553
• Composite: 24.06/100
• National rank: #7762
• State rank: #389 of 540 in MI

Livability — Wolf Lake

• Score: 60/100
• State rank: #594
• US rank: #19391

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wolf Lake, MI
• County: Muskegon County · 107,917 people
• Metro: Muskegon, MI
• Population (ZIP): 44,766
• Household income: $48,563
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 1598.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 63% Black 22% Two or more races 10% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Iranian 5% Romanian 4% Lithuanian 3%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 3%

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: ▼ -174.87%
• Current HPI: 287.0558
• Rent YoY: ▲ 8.21%
• Metro: Muskegon, 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

• 2026-06-14 Pending — REALCOMP
• 2026-06-13 Pending — MiRealSource-MiMLS
• 2026-06-13 Pending — SW Michigan MLS
• 2026-05-13 Listed $70,000 SW Michigan MLS
• 2026-05-13 Listed $70,000 MiRealSource-MiMLS
• 2026-05-13 Listed $70,000 REALCOMP