2261 Drive In Ln Lot 68 · Mount Pleasant, MI 48858

$39,000

3 bd · 2.0 ba · 720 sqft · Manufactured · 31 Days on market

Built 1996 Fair condition Est $42k · 7% under $425/mo HOA · 37% 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
• ARV discount +10.5/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +5.0/5.0
• Livability +4.1/5.0
• Schools +3.3/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Broadway Acres is now under new ownership and professional management! Looking for an affordable 3-bedroom, 2 full bath home? This welcoming community offers a variety of financing options to fit your needs. Enjoy clean, well-maintained grounds along with newly finished roads. Also super convenient location in Mount Pleasant. Lot rent is approximately $425/month. Please note: this is a mobile home community; no land is included in the sale. Buyer must complete park application and receive approval prior to closing. Buyers must pay a 6% sales tax and a $90.00 title transfer fee that goes to the Secretary of State. Contact the listing agent today for more information or to schedule a tour!

Key facts

• Built 1996
• Listed 30 days

Property features AI

Finance

• Other: Living area reported as 720; Property listed as residential
• Financial info: No additional financial details provided
• HOA & community: Homeowners association with a monthly fee of $425

Exterior

• Parking: No parking details provided
• Security: No security details provided
• Utilities: Natural gas connected; Public water service
• Home design: Ranch-style residential property; Single-story (ranch)
• Construction: Built in 1996; Vinyl siding; Shingle roof
• Exterior features: Paved road access; Public water

Interior

• Kitchen: Kitchen (appliance details not provided)
• Bedrooms: Primary bedroom; Second bedroom
• Flooring: No flooring details provided
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating
• Interior features: Six total rooms; Slab foundation/basement
• Laundry & utility: No specific laundry/utility details provided

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $39k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $222 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $39k).
• Recommended offer: $38k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.1% vs local median 3.4% in Mount Pleasant — 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 82/100 on livability (#55 in MI, #1,063 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, health & safety A+; Watch: crime C-, employment F.
• Mt. Pleasant City School District (town): math 33% / reading 48% proficiency, ranked #229 of 540 in MI (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+16.9%/yr); 249 active listings in the ZIP; 72 units permitted in Isabella County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $270 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Isabella County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $11k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($38k) 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 37% of rent.

Recommended offer $37,830 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 2.97% ✓
• Cap rate: 13.12%
• Cash-on-cash: 24.37%
• DSCR: 2.08
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $41,760
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2311 Theatre Trl Lot 12	0.08mi	3/2.0	720 (0%)	1mo	$42,000	$58	95

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: 27.9%
• Equity multiple: 2.30×
• Total profit: $14,216
• Equity at exit: $5,815

10-year hold

• IRR: 40.1%
• Equity multiple: 6.46×
• Total profit: $59,602
• Equity at exit: $3,372

Cash invested: $10,920 (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 48858

• Home prices YoY: -31.9%
• Rents YoY: 16.9%
• Active inventory: 249
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,160 medium
• Mortgage (P&I): −$205
• Tax est. 1.5%: −$49 /mo · $585/yr
• Insurance: −$16
• HOA: −$425
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $222

Break-even live

Break-even rent $879

Max offer price $39,000

Occupancy floor 76%

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: $9,750
• Closing costs: $1,170
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $425 · $5,100/yr
• Likely covers: landscaping

Listing history 19 events

1. 2026-06-19
   days on market $39,000 Active 31 DOM
2. 2026-06-18
   days on market $39,000 Active 30 DOM
3. 2026-06-17
   days on market $39,000 Active 29 DOM
4. 2026-06-16
   days on market $39,000 Active 28 DOM
5. 2026-06-15
   days on market $39,000 Active 27 DOM
6. 2026-06-14
   days on market $39,000 Active 25 DOM
7. 2026-06-12
   days on market $39,000 Active 24 DOM
8. 2026-06-09
   days on market $39,000 Active 21 DOM
9. 2026-06-08
   days on market $39,000 Active 20 DOM
10. 2026-06-07
    days on market $39,000 Active 19 DOM
11. 2026-06-05
    days on market $39,000 Active 16 DOM
12. 2026-06-03
    days on market $39,000 Active 15 DOM
13. 2026-06-02
    days on market $39,000 Active 14 DOM
14. 2026-06-01
    days on market $39,000 Active 13 DOM
15. 2026-05-31
    days on market $39,000 Active 12 DOM
16. 2026-05-30
    days on market $39,000 Active 11 DOM
17. 2026-05-19
    listed $39,000 Active

    Show marketing remark (696 chars)

    Broadway Acres is now under new ownership and professional management! Looking for an affordable 3-bedroom, 2 full bath home? This welcoming community offers a variety of financing options to fit your needs. Enjoy clean, well-maintained grounds along with newly finished roads. Also super convenient location in Mount Pleasant. Lot rent is approximately $425/month. Please note: this is a mobile home community; no land is included in the sale. Buyer must complete park application and receive approval prior to closing. Buyers must pay a 6% sales tax and a $90.00 title transfer fee that goes to the Secretary of State. Contact the listing agent today for more information or to schedule a tour!

18. 2026-05-19
    listed $39,000 Active 696-char remark

    Show marketing remark (696 chars)

    Broadway Acres is now under new ownership and professional management! Looking for an affordable 3-bedroom, 2 full bath home? This welcoming community offers a variety of financing options to fit your needs. Enjoy clean, well-maintained grounds along with newly finished roads. Also super convenient location in Mount Pleasant. Lot rent is approximately $425/month. Please note: this is a mobile home community; no land is included in the sale. Buyer must complete park application and receive approval prior to closing. Buyers must pay a 6% sales tax and a $90.00 title transfer fee that goes to the Secretary of State. Contact the listing agent today for more information or to schedule a tour!

19. 2026-05-19
    listed $39,000 Active 696-char remark

    Show marketing remark (696 chars)

    Broadway Acres is now under new ownership and professional management! Looking for an affordable 3-bedroom, 2 full bath home? This welcoming community offers a variety of financing options to fit your needs. Enjoy clean, well-maintained grounds along with newly finished roads. Also super convenient location in Mount Pleasant. Lot rent is approximately $425/month. Please note: this is a mobile home community; no land is included in the sale. Buyer must complete park application and receive approval prior to closing. Buyers must pay a 6% sales tax and a $90.00 title transfer fee that goes to the Secretary of State. Contact the listing agent today for more information or to schedule a tour!

ⓘ 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: $13,919
• − Mortgage interest: −$2,185
• − Property taxes: −$585
• − Insurance: −$195
• − Repairs & maintenance: −$1,114
• − Management: −$1,114
• − HOA: −$5,100
• − Depreciation: −$1,135
• Taxable income: $2,493
• Est. tax owed @ 24.0%: −$598
• After-tax cash flow: $2,063/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 · 19 photos

Fair 45/100 Moderate rehab

This mobile home requires moderate renovations to update the kitchen and bathroom, paint interior walls, and repair exterior siding. These updates will significantly increase its resale and rental value.

Repairs flagged

• Moderate kitchen cabinets — dated design
• Moderate bathroom fixtures — standard, dated design
• Minor exterior siding — some discoloration

Value-add opportunities

• Both update kitchen cabinets and fixtures — modernizing kitchen will appeal to buyers and renters
• Both paint interior walls — fresh paint will improve curb appeal and interior aesthetics
• Both repair exterior siding — improving exterior will enhance curb appeal and home value
• Both update bathroom fixtures — modernizing bathroom will appeal to buyers and renters

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated design	Moderate	$3,000–15,000
bathroom fixtures · standard, dated design	Moderate	$3,000–15,000
exterior siding · some discoloration	Minor	$500–3,000
Total estimated repair cost · 3 items		$6,500–33,000

Value-add ROI direction

• Both update kitchen cabinets and fixtures — modernizing kitchen will appeal to buyers and renters ↑
• Both paint interior walls — fresh paint will improve curb appeal and interior aesthetics ↑
• Both repair exterior siding — improving exterior will enhance curb appeal and home value ↑
• Both update bathroom fixtures — modernizing bathroom will appeal to buyers and renters ↑

ⓘ 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: Mt. Pleasant City School District
• NCES district ID: 2624750
• Math proficiency: 33% ▼ -5.00%
• Reading proficiency: 48% ▼ -3.00%
• Median HH income: $32,344
• Composite: 33.16/100
• National rank: #5548
• State rank: #229 of 540 in MI

Livability — Mount Pleasant

• Score: 82/100
• State rank: #55
• US rank: #1063

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Isabella County · 42,226 people
• City population: 42,226
• Metro: Mount Pleasant, MI
• Population (ZIP): 42,226
• Household income: $51,267
• Rent vs Own: 50.2% rent · 49.8% own
• Severe rent burden: 2381.0

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 (81%)
• Race & ethnicity: White 81% Two or more races 6% Hispanic / Latino 5% Native American 4% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Romanian 6% Slovak 3% Iranian 3%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% German/W. Germanic 0%

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: ▼ -96.75%
• Current HPI: 206.1153
• Rent YoY: ▲ 16.89%
• Metro: Mount Pleasant, 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

• 2026-05-19 Listed $39,000 MiRealSource-MiMLS
• 2026-05-19 Listed $39,000 REALCOMP
• 2026-05-19 Listed $39,000 SW Michigan MLS