170 Newbury · Madison, MI 49221

$75,000

3 bd · 2.0 ba · 1,566 sqft · SingleFamily · 138 Days on market

Built 2021 3,600 sqft lot $490/mo HOA · 32% of rent ↓ 17% since listing

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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 +26.9/30.0
• 1% rule +10.0/10.0
• DSCR +9.3/10.0
• ARV discount +7.5/15.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful manufactured home, like new inside, 3 bedrooms, 2 full baths, all appliances can be included with the sale of this home. Low lot rent only $490 a month. This is a 2021 manufactured home in Sterling Estates manufactured home park in Adrian, MI.

Key facts

• 3,600 sq ft lot
• Built 2021
• Listed 137 days

Property features AI

Finance

• Other: Located in Sterling Estates subdivision; Directions: US-223 to north on Division Street to east into Sterling Estates mobile home park
• Financial info:
• HOA & community: Homeowners association present; $490 monthly association fee

Exterior

• Parking: No garage; assigned parking
• Security:
• Utilities: Public water; Public sewer; Cable available; Underground utilities
• Home design: Single-family residence; One-level layout; Ground-level entry with steps
• Construction: Vinyl siding; Asphalt roof; Block and pier/pillar foundation; Built as a residential single-family home
• Exterior features: Paved road access; Pets allowed with breed restrictions; cats and dogs allowed; No pool

Interior

• Kitchen: Dishwasher; Free-standing gas range; Free-standing refrigerator
• Bedrooms:
• Flooring:
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Dishwasher; Dryer; Free-standing gas range; Free-standing refrigerator; Washer; 6 total rooms
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $207 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Madison School District (Lenawee) (town): math 34% / reading 51% proficiency, ranked #195 of 540 in MI (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 214 active listings in the ZIP; 137 units permitted in Lenawee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Lenawee County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 138 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 32% of rent.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 138 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.05% ✓
• Cap rate: 9.61%
• Cash-on-cash: 11.85%
• DSCR: 1.53
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $181,656
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
141 Concord	0.07mi	3/2.0	1,456 (-7%)	6mo	$65,500	$45	80
2502 Treat Hwy	0.44mi	3/2.0	1,622 (+4%)	16mo	$226,101	$139	61
110 E South St	0.60mi	4/1.5 (+1)	1,595 (+2%)	6mo	$170,000	$107	57
917 E Beecher St	0.68mi	3/2.0	1,541 (-2%)	12mo	$125,000	$81	56
957 State St	0.49mi	3/2.0	1,705 (+9%)	11mo	$198,000	$116	54
1897 Allan St	0.73mi	3/2.0	1,440 (-8%)	1mo	$250,000	$174	52
656 James St	0.68mi	3/1.0	1,709 (+9%)	6mo	$150,000	$88	44
1894 Harold St	0.63mi	3/2.0	1,376 (-12%)	8mo	$280,000	$203	44
1822 Harold St	0.63mi	3/3.0	1,416 (-10%)	23mo	$299,000	$211	31

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 1.7%
• Equity multiple: 1.07×
• Total profit: $1,375
• Equity at exit: $11,183

10-year hold

• IRR: 11.6%
• Equity multiple: 1.93×
• Total profit: $19,518
• Equity at exit: $6,485

Cash invested: $21,000 (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 49221

• Active inventory: 214
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,539 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$490
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $207

Break-even live

Break-even rent $1,276

Max offer price $75,000

Occupancy floor 82%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $490 · $5,880/yr

Listing history 19 events

1. 2026-06-18
   days on market $75,000 Active 138 DOM
2. 2026-06-17
   days on market $75,000 Active 137 DOM
3. 2026-06-16
   days on market $75,000 Active 136 DOM
4. 2026-06-15
   days on market $75,000 Active 135 DOM
5. 2026-06-13
   days on market $75,000 Active 133 DOM
6. 2026-06-12
   days on market $75,000 Active 132 DOM
7. 2026-06-09
   days on market $75,000 Active 129 DOM
8. 2026-06-08
   days on market $75,000 Active 128 DOM
9. 2026-06-07
   days on market $75,000 Active 127 DOM
10. 2026-06-05
    days on market $75,000 Active 125 DOM
11. 2026-06-04
    days on market $75,000 Active 123 DOM
12. 2026-06-02
    days on market $75,000 Active 122 DOM
13. 2026-06-01
    days on market $75,000 Active 121 DOM
14. 2026-05-31
    days on market $75,000 Active 120 DOM
15. 2026-05-31
    days on market $75,000 Active 119 DOM
16. 2026-04-17
    price $75,000 253-char remark

    Show marketing remark (253 chars)

    Beautiful manufactured home, like new inside, 3 bedrooms, 2 full baths, all appliances can be included with the sale of this home. Low lot rent only $490 a month. This is a 2021 manufactured home in Sterling Estates manufactured home park in Adrian, MI.

17. 2026-04-17
    price $75,000

    Show marketing remark (253 chars)

    Beautiful manufactured home, like new inside, 3 bedrooms, 2 full baths, all appliances can be included with the sale of this home. Low lot rent only $490 a month. This is a 2021 manufactured home in Sterling Estates manufactured home park in Adrian, MI.

18. 2026-01-30
    listed $89,900 Active 253-char remark

    Show marketing remark (253 chars)

    Beautiful manufactured home, like new inside, 3 bedrooms, 2 full baths, all appliances can be included with the sale of this home. Low lot rent only $490 a month. This is a 2021 manufactured home in Sterling Estates manufactured home park in Adrian, MI.

19. 2026-01-30
    listed $89,900 Active

    Show marketing remark (253 chars)

    Beautiful manufactured home, like new inside, 3 bedrooms, 2 full baths, all appliances can be included with the sale of this home. Low lot rent only $490 a month. This is a 2021 manufactured home in Sterling Estates manufactured home park in Adrian, MI.

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 70% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,465
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$1,477
• − Management: −$1,477
• − HOA: −$5,880
• − Depreciation: −$2,182
• Taxable income: $1,748
• Est. tax owed @ 24.0%: −$419
• After-tax cash flow: $2,068/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: Madison School District (Lenawee)
• NCES district ID: 2622320
• Math proficiency: 34% ▼ -10.00%
• Reading proficiency: 51% ▼ -5.00%
• Median HH income: $37,961
• Composite: 35.35/100
• National rank: #4959
• State rank: #195 of 540 in MI

Livability — Madison

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 41,041

Population outlook (Lenawee County) Hauer SSP2

• Today (2025): 95,497 people
• By 2030: 92,722 · -2.9%
• By 2040: 85,641 · -10.3%
• By 2050: 77,971 · -18.4%
• By 2075: 60,043 · -37.1%
• By 2100: 41,468 · -56.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 14% Two or more races 8% Black 4%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Romanian 3% Lithuanian 3% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 6% Arabic 1%

Political lean MEDSL · Lenawee

• 2024 margin: Strong R (+23.0) · D 37.8% · R 60.8% · Other 1.4%
• 2008→2024 swing: -28.1pp toward R · 2008: 5.1pp · 2024: -23.0pp
• All cycles: 2024: R+23.0 2020: R+19.9 2016: R+21.1 2012: R+1.3 2008: D+5.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -143.64%
• Current HPI: 237.3796
• 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

-16.6% since first listed

4 events — show timeline

• 2026-04-17 Price Changed $75,000 MiRealSource-MiMLS
• 2026-04-17 Price Changed $75,000 REALCOMP
• 2026-01-30 Listed $89,900 REALCOMP
• 2026-01-30 Listed $89,900 MiRealSource-MiMLS