14510 Crooked Tree Lane Plan

Grand Haven, MI 49417

$84,995B

3 bd · 2.0 ba · 1,056 sqft · Built — · Manufactured · Active · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,725/mo
• Mortgage (P&I): −$446
• Tax + insurance: −$142
• HOA: −$0
• Vac / Maint / Mgmt: −$362
• Net cashflow: $776/mo
• Annual: $9,307/yr
• Cap rate: 17.24%
• Cash-on-cash: 39.11%
• DSCR: 2.74
• 1% rule: 2.03%
• Cash to close: $23,799

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $85k. Condition is rated good.
• At list price, monthly cash flow is $776 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $587 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 81/100 on livability (#69 in MI, #1,467 nationally) — a professional / high-income tenant draw. Strengths: schools A+, cost of living A+, housing A+; Watch: employment C-, commute 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: Rents rising fast (+6.0%/yr); 218 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,237 units permitted in Ottawa County in 2024 (443 in 5+ unit buildings).
• Ottawa County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 6.0% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 17.2% vs local median 1.8% in Grand Haven — 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.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-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?
• 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.
• 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.
• 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.