2515 Shakespeare Ln · South Lyon, MI 48167

$69,500

4 bd · 2.0 ba · 1,359 sqft · Other · 94 Days on market

Built 1996 1.88 ac lot $51/sqft · 9% below area Est $77k · 9% under ↓ 4% since listing

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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 +11.7/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.7/10.0
• Livability +4.2/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 2515 Shakespeare Ln in the highly desirable Northville Crossings community, offering an excellent combination of updates, functionality, and affordability in a prime Northville location. This spacious 4-bedroom, 2-bath manufactured home features approximately 1,359 square feet of living space with a practical layout designed for comfortable everyday living and flexibility for a variety of lifestyles. Extensively updated and move-in ready, the home offers a level of value and peace of mind that is difficult to find at this price point. Recent improvements include newer carpet, updated countertops, newer appliances, updated lighting, a newer A/C system installed in 2023, and a brand-new roof in 2024, helping take care of many of the major expenses for the next owner. The flexible 4-bedroom layout provides excellent options for guests, hobbies, storage, or a dedicated home office setup, while the open flow between the kitchen, dining, and living areas creates a comfortable and functional atmosphere for both relaxing and entertaining. Residents of Northville Crossings enjoy access to community amenities including a clubhouse, swimming pool, fitness center, playgrounds, and organized community activities while remaining close to shopping, dining, expressways, and all that Northville has to offer. Lot rent is approximately $800 per month; buyer to verify all information with the park. All residents must be approved by the community following an accepted offer or during the inspection period. Contact the community office for verification at Northville Crossings, [phone]. Financing for homes located in parks does differ from traditional mortgage programs and typically requires specialized lenders; mobile-home-specific lenders are available to assist qualified buyers with the pre-approval process. If you're looking for an affordable, practical place to call home with room to make it your own, this is an opportunity you won't want to miss.

Key facts

• New carpet
• Heat pump
• Ceiling fans

Tags

• NEW CARPET
• UPDATED COUNTERTOPS
• FULL SUITE OF APPLIANCES
• HEAT PUMP
• UPDATED LIGHTING
• CEILING FANS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $70k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $63k (9.0% below list) — sets the bar for market timing.
• Cap rate 29.7% vs local median 2.6% in South Lyon — 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 83/100 on livability (#46 in MI, #953 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities C-, commute F.
• South Lyon Community Schools (suburban): math 46% / reading 59% proficiency, ranked #74 of 540 in MI (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+4.0%/yr); 221 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 996 units permitted in Washtenaw County in 2024 (492 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $481 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Washtenaw County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $19k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $19k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $63,245 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 3.35% ✓
• Cap rate: 29.74%
• Cash-on-cash: 83.73%
• DSCR: 4.73
• GRM: 2.5

CMA / ARV

• ARV (median comp): $76,695
• List price: $69,500
• Delta: -9.38%
• Verdict: FAIR
• Comps: 14 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.97% rent growth · sell at horizon

5-year hold

• IRR: 85.2%
• Equity multiple: 4.98×
• Total profit: $77,547
• Equity at exit: $10,363

10-year hold

• IRR: 88.6%
• Equity multiple: 10.69×
• Total profit: $188,623
• Equity at exit: $6,009

Cash invested: $19,460 (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 48167

• Rents YoY: 4.0%
• Active inventory: 221
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $2,327 medium
• Mortgage (P&I): −$364
• Tax est. 1.5%: −$87 /mo · $1,042/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$489
• Net cashflow: $1,358

Break-even live

Break-even rent $608

Max offer price $69,500

Occupancy floor 37%

Sensitivity live

Price	-10% $1,406	-5% $1,382	+0% $1,358	+5% $1,334	+10% $1,310
Rent	-10% $1,174	-5% $1,266	+0% $1,358	+5% $1,450	+10% $1,542
Rate	-1.0pp $1,393	-0.5pp $1,376	base $1,358	+0.5pp $1,340	+1.0pp $1,322

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: $17,375
• Closing costs: $2,085
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9800 Bloomsbury Cir Northville, MI	3.0	2.0	1456	$1,629	$1.12	3d	1	0.23mi

Listing history 19 events

1. 2026-06-21
   days on market $69,500 Active 94 DOM
2. 2026-06-18
   days on market $69,500 Active 91 DOM
3. 2026-06-17
   pricedays on market $69,500 Active 90 DOM
4. 2026-06-16
   days on market $79,500 Active 89 DOM
5. 2026-06-15
   days on market $79,500 Active 88 DOM
6. 2026-06-13
   days on market $79,500 Active 86 DOM
7. 2026-06-13
   pricedays on market $79,500 Active 85 DOM
8. 2026-06-09
   days on market $83,500 Active 82 DOM
9. 2026-06-08
   days on market $83,500 Active 81 DOM
10. 2026-06-07
    days on market $83,500 Active 80 DOM
11. 2026-06-04
    days on market $83,500 Active 77 DOM
12. 2026-06-03
    days on market $83,500 Active 76 DOM
13. 2026-06-02
    days on market $83,500 Active 75 DOM
14. 2026-06-01
    days on market $83,500 Active 74 DOM
15. 2026-05-31
    days on market $83,500 Active 73 DOM
16. 2026-04-21
    price $85,000 1981-char remark

    Show marketing remark (1993 chars)

    Welcome to 2515 Shakespeare Ln in the highly desirable Northville Crossings community, offering an excellent combination of updates, functionality, and affordability in a prime Northville location. This spacious 4-bedroom, 2-bath manufactured home features approximately 1,359 square feet of living space with a practical layout designed for comfortable everyday living and flexibility for a variety of lifestyles. Extensively updated and move-in ready, the home offers a level of value and peace of mind that is difficult to find at this price point. Recent improvements include newer carpet, updated countertops, newer appliances, updated lighting, a newer A/C system installed in 2023, and a brand-new roof in 2024, helping take care of many of the major expenses for the next owner. The flexible 4-bedroom layout provides excellent options for guests, hobbies, storage, or a dedicated home office setup, while the open flow between the kitchen, dining, and living areas creates a comfortable and functional atmosphere for both relaxing and entertaining. Residents of Northville Crossings enjoy access to community amenities including a clubhouse, swimming pool, fitness center, playgrounds, and organized community activities while remaining close to shopping, dining, expressways, and all that Northville has to offer. Lot rent is approximately $800 per month; buyer to verify all information with the park. All residents must be approved by the community following an accepted offer or during the inspection period. Contact the community office for verification at Northville Crossings, [phone]. Financing for homes located in parks does differ from traditional mortgage programs and typically requires specialized lenders; mobile-home-specific lenders are available to assist qualified buyers with the pre-approval process. If you’re looking for an affordable, practical place to call home with room to make it your own, this is an opportunity you won’t want to miss.

17. 2026-04-21
    price $85,000 1993-char remark

    Show marketing remark (1993 chars)

    Welcome to 2515 Shakespeare Ln in the highly desirable Northville Crossings community, offering an excellent combination of updates, functionality, and affordability in a prime Northville location. This spacious 4-bedroom, 2-bath manufactured home features approximately 1,359 square feet of living space with a practical layout designed for comfortable everyday living and flexibility for a variety of lifestyles. Extensively updated and move-in ready, the home offers a level of value and peace of mind that is difficult to find at this price point. Recent improvements include newer carpet, updated countertops, newer appliances, updated lighting, a newer A/C system installed in 2023, and a brand-new roof in 2024, helping take care of many of the major expenses for the next owner. The flexible 4-bedroom layout provides excellent options for guests, hobbies, storage, or a dedicated home office setup, while the open flow between the kitchen, dining, and living areas creates a comfortable and functional atmosphere for both relaxing and entertaining. Residents of Northville Crossings enjoy access to community amenities including a clubhouse, swimming pool, fitness center, playgrounds, and organized community activities while remaining close to shopping, dining, expressways, and all that Northville has to offer. Lot rent is approximately $800 per month; buyer to verify all information with the park. All residents must be approved by the community following an accepted offer or during the inspection period. Contact the community office for verification at Northville Crossings, [phone]. Financing for homes located in parks does differ from traditional mortgage programs and typically requires specialized lenders; mobile-home-specific lenders are available to assist qualified buyers with the pre-approval process. If you’re looking for an affordable, practical place to call home with room to make it your own, this is an opportunity you won’t want to miss.

18. 2026-03-18
    listed $88,500 Active 1981-char remark

    Show marketing remark (1993 chars)

    Welcome to 2515 Shakespeare Ln in the highly desirable Northville Crossings community, offering an excellent combination of updates, functionality, and affordability in a prime Northville location. This spacious 4-bedroom, 2-bath manufactured home features approximately 1,359 square feet of living space with a practical layout designed for comfortable everyday living and flexibility for a variety of lifestyles. Extensively updated and move-in ready, the home offers a level of value and peace of mind that is difficult to find at this price point. Recent improvements include newer carpet, updated countertops, newer appliances, updated lighting, a newer A/C system installed in 2023, and a brand-new roof in 2024, helping take care of many of the major expenses for the next owner. The flexible 4-bedroom layout provides excellent options for guests, hobbies, storage, or a dedicated home office setup, while the open flow between the kitchen, dining, and living areas creates a comfortable and functional atmosphere for both relaxing and entertaining. Residents of Northville Crossings enjoy access to community amenities including a clubhouse, swimming pool, fitness center, playgrounds, and organized community activities while remaining close to shopping, dining, expressways, and all that Northville has to offer. Lot rent is approximately $800 per month; buyer to verify all information with the park. All residents must be approved by the community following an accepted offer or during the inspection period. Contact the community office for verification at Northville Crossings, [phone]. Financing for homes located in parks does differ from traditional mortgage programs and typically requires specialized lenders; mobile-home-specific lenders are available to assist qualified buyers with the pre-approval process. If you’re looking for an affordable, practical place to call home with room to make it your own, this is an opportunity you won’t want to miss.

19. 2026-03-18
    listed $88,500 Active 1993-char remark

    Show marketing remark (1993 chars)

    Welcome to 2515 Shakespeare Ln in the highly desirable Northville Crossings community, offering an excellent combination of updates, functionality, and affordability in a prime Northville location. This spacious 4-bedroom, 2-bath manufactured home features approximately 1,359 square feet of living space with a practical layout designed for comfortable everyday living and flexibility for a variety of lifestyles. Extensively updated and move-in ready, the home offers a level of value and peace of mind that is difficult to find at this price point. Recent improvements include newer carpet, updated countertops, newer appliances, updated lighting, a newer A/C system installed in 2023, and a brand-new roof in 2024, helping take care of many of the major expenses for the next owner. The flexible 4-bedroom layout provides excellent options for guests, hobbies, storage, or a dedicated home office setup, while the open flow between the kitchen, dining, and living areas creates a comfortable and functional atmosphere for both relaxing and entertaining. Residents of Northville Crossings enjoy access to community amenities including a clubhouse, swimming pool, fitness center, playgrounds, and organized community activities while remaining close to shopping, dining, expressways, and all that Northville has to offer. Lot rent is approximately $800 per month; buyer to verify all information with the park. All residents must be approved by the community following an accepted offer or during the inspection period. Contact the community office for verification at Northville Crossings, [phone]. Financing for homes located in parks does differ from traditional mortgage programs and typically requires specialized lenders; mobile-home-specific lenders are available to assist qualified buyers with the pre-approval process. If you’re looking for an affordable, practical place to call home with room to make it your own, this is an opportunity you won’t want to miss.

ⓘ 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: $27,921
• − Mortgage interest: −$3,893
• − Property taxes: −$1,042
• − Insurance: −$348
• − Repairs & maintenance: −$2,234
• − Management: −$2,234
• − Depreciation: −$2,022
• Taxable income: $16,149
• Est. tax owed @ 24.0%: −$3,876
• After-tax cash flow: $12,418/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: South Lyon Community Schools
• NCES district ID: 2632250
• Math proficiency: 46% ▼ -10.00%
• Reading proficiency: 59% ▼ -4.00%
• Median HH income: $71,419
• Composite: 46.86/100
• National rank: #2372
• State rank: #74 of 540 in MI

Livability — South Lyon

• Score: 83/100
• State rank: #46
• US rank: #953

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Wayne County · 1,562,939 people
• City population: 37,789
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 24,713
• Household income: $124,630
• Rent vs Own: 25.9% rent · 74.1% own
• Severe rent burden: 441.0

Population outlook (Washtenaw County) Hauer SSP2

• Today (2025): 402,878 people
• By 2030: 424,104 · +5.3%
• By 2040: 464,633 · +15.3%
• By 2050: 504,728 · +25.3%
• By 2075: 614,463 · +52.5%
• By 2100: 676,181 · +67.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Asian 10% Two or more races 5% Hispanic / Latino 4% Black 4%
• Common ancestry: Romanian 11% Lithuanian 4% Slovak 3%
• Foreign-born: 15% · Canada, China, South Korea
• Languages at home: 85% English-only · Other Indo-European 4% Other Asian/Pacific 3% Chinese 2%

Political lean MEDSL · Washtenaw

• 2024 margin: Solid D (+44.4) · D 71.0% · R 26.6% · Other 2.4%
• 2008→2024 swing: +3.5pp toward D · 2008: 41.0pp · 2024: 44.4pp
• All cycles: 2024: D+44.4 2020: D+46.6 2016: D+41.5 2012: D+36.0 2008: D+41.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -275.65%
• Current HPI: 176.171
• Rent YoY: ▲ 3.97%
• Metro: Detroit-Warren-Dearborn, 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

-4.0% since first listed

4 events — show timeline

• 2026-04-21 Price Changed $85,000 MiRealSource-MiMLS
• 2026-04-21 Price Changed $85,000 REALCOMP
• 2026-03-18 Listed $88,500 REALCOMP
• 2026-03-18 Listed $88,500 MiRealSource-MiMLS