5228-551 Plan · Sparta, MI 49345

$145,900

3 bd · 2.0 ba · 1,404 sqft · Manufactured · 920 Days on market

Good condition $104/sqft · 19% above area Est $123k · 19% 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 +25.6/30.0
• DSCR +8.5/10.0
• 1% rule +6.7/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Ready to create new memories with family and friends? This exceptional, 3 bedroom 2 bath home offers an open floor-plan with a gorgeous kitchen that will compliment any home furnishings! The stylish laminate flooring runs throughout the home, adding an extra flare of style not to mention, easy to keep clean! With walk-in closet, you won't have trouble keeping organized. You will love starting a new beginning at Riverview! Call the sales office and start making memories in this gorgeous home today [phone] Riverview Amenities: Washer/Dryer Hook Up Central A/C Pet Friendly Emergency Maintenance Professionally Managed Pickleball Court Playground Community Clubhouse Dog Park Picnic Area RV Storage Covered Bus Stop

Key facts

• Listed 919 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $146k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $344 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $146k).
• Recommended offer: $128k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 4.3% in Sparta — 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 80/100 on livability (#83 in MI, #1,786 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D+, employment D, commute F.
• Sparta Area Schools (town): math 33% / reading 47% proficiency, ranked #201 of 540 in MI (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 105 active listings in the ZIP; 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Kent County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 920 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.

Recommended offer $128,392 (12.0% below list)

Questions for the listing agent

1. It's been on market 920 days. Have you received any prior offers? Is the seller open to a 12% 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. 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.
5. 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.
6. 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: 1.17% ✓
• Cap rate: 9.12%
• Cash-on-cash: 10.11%
• DSCR: 1.45
• GRM: 7.1

CMA / ARV

• ARV (median comp): $122,903
• List price: $145,900
• Delta: 18.71%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
116 San Souci Dr #116	0.11mi	3/2.0	1,568 (+12%)	9mo	$139,900	$89	68
81 Viking Dr #81	0.01mi	4/2.0 (+1)	1,568 (+12%)	12mo	$144,900	$92	65
24 Traveler Dr #24	0.07mi	3/2.0	1,246 (-11%)	18mo	$122,900	$99	63
75 Viking Dr #75	0.04mi	4/2.0 (+1)	1,568 (+12%)	13mo	$144,900	$92	63
31 Traveler Dr #31	0.07mi	4/2.0 (+1)	1,568 (+12%)	13mo	$144,900	$92	61
115 San Souci Dr NW #115	0.20mi	3/2.0	1,568 (+12%)	15mo	$137,000	$87	58

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: -1.1%
• Equity multiple: 0.96×
• Total profit: $-1,705
• Equity at exit: $21,754

10-year hold

• IRR: 8.6%
• Equity multiple: 1.66×
• Total profit: $26,834
• Equity at exit: $12,615

Cash invested: $40,852 (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 49345

• Home prices YoY: -27.3%
• Active inventory: 105
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,712 medium
• Mortgage (P&I): −$765
• Tax est. 1.5%: −$182 /mo · $2,188/yr
• Insurance: −$61
• HOA: −$0
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $344

Break-even live

Break-even rent $1,276

Max offer price $145,900

Occupancy floor 75%

Sensitivity live

Price	-10% $445	-5% $394	+0% $344	+5% $294	+10% $243
Rent	-10% $209	-5% $276	+0% $344	+5% $412	+10% $479
Rate	-1.0pp $417	-0.5pp $381	base $344	+0.5pp $306	+1.0pp $268

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: $36,475
• Closing costs: $4,377
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $145,900 Active 920 DOM
2. 2026-06-18
   days on market $145,900 Active 917 DOM
3. 2026-06-17
   days on market $145,900 Active 916 DOM
4. 2026-06-16
   days on market $145,900 Active 915 DOM
5. 2026-06-15
   days on market $145,900 Active 914 DOM
6. 2026-06-14
   days on market $145,900 Active 912 DOM
7. 2026-06-13
   days on market $145,900 Active 911 DOM
8. 2026-06-10
   days on market $145,900 Active 909 DOM
9. 2026-06-09
   days on market $145,900 Active 908 DOM
10. 2026-06-08
    days on market $145,900 Active 907 DOM
11. 2026-06-07
    days on market $145,900 Active 906 DOM
12. 2026-06-03
    days on market $145,900 Active 902 DOM
13. 2026-06-03
    days on market $145,900 Active 901 DOM
14. 2026-06-01
    days on market $145,900 Active 900 DOM
15. 2026-05-31
    days on market $145,900 Active 899 DOM
16. 2023-12-14
    listed $145,900 Active 728-char remark

    Show marketing remark (728 chars)

    Ready to create new memories with family and friends? This exceptional, 3 bedroom 2 bath home offers an open floor-plan with a gorgeous kitchen that will compliment any home furnishings! The stylish laminate flooring runs throughout the home, adding an extra flare of style not to mention, easy to keep clean! With walk-in closet, you won't have trouble keeping organized. You will love starting a new beginning at Riverview! Call the sales office and start making memories in this gorgeous home today [phone] Riverview Amenities: Washer/Dryer Hook Up Central A/C Pet Friendly Emergency Maintenance Professionally Managed Pickleball Court Playground Community Clubhouse Dog Park Picnic Area RV Storage Covered Bus Stop

ⓘ 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: $20,541
• − Mortgage interest: −$8,173
• − Property taxes: −$2,188
• − Insurance: −$730
• − Repairs & maintenance: −$1,643
• − Management: −$1,643
• − Depreciation: −$4,244
• Taxable income: $1,920
• Est. tax owed @ 24.0%: −$461
• After-tax cash flow: $3,668/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 · 12 photos

Good 80/100 Cosmetic rehab

This well-maintained, 3-bedroom, 2-bath home offers a good condition with modern appliances and updated fixtures. It is ready for a fresh coat of paint and new flooring to further enhance its appeal.

Value-add opportunities

• Resale Paint the interior walls in a fresh color — Fresh paint can make the home feel more inviting and modern.
• Resale Replace the flooring with hardwood or tile — Hardwood or tile flooring can increase the home's value and appeal to a wider range of buyers.
• Both Install smart home devices — Smart home devices can improve convenience and energy efficiency, making the home more attractive to both buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint the interior walls in a fresh color — Fresh paint can make the home feel more inviting and modern. ↑
• Resale Replace the flooring with hardwood or tile — Hardwood or tile flooring can increase the home's value and appeal to a wider range of buyers. ↑
• Both Install smart home devices — Smart home devices can improve convenience and energy efficiency, making the home more attractive to both 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: Sparta Area Schools
• NCES district ID: 2632370
• Math proficiency: 33% ▼ -15.00%
• Reading proficiency: 47% ▼ -9.00%
• Median HH income: $54,917
• Composite: 34.91/100
• National rank: #5074
• State rank: #201 of 540 in MI

Livability — Sparta

• Score: 80/100
• State rank: #83
• US rank: #1786

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 13,189
• Population (ZIP): 13,189

Population outlook (Kent County) Hauer SSP2

• Today (2025): 712,484 people
• By 2030: 748,618 · +5.1%
• By 2040: 814,777 · +14.4%
• By 2050: 868,556 · +21.9%
• By 2075: 966,487 · +35.7%
• By 2100: 967,975 · +35.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Hispanic / Latino 3% Asian 2%
• Common ancestry: Iranian 17% Romanian 9% Lithuanian 4%
• Foreign-born: 2% · Vietnam, South Korea, Canada
• Languages at home: 96% English-only · Spanish 1% Other Indo-European 1% Vietnamese 1%

Political lean MEDSL · Kent

• 2024 margin: Lean D (+5.4) · D 51.8% · R 46.5% · Other 1.7%
• 2008→2024 swing: +4.8pp toward D · 2008: 0.5pp · 2024: 5.4pp
• All cycles: 2024: D+5.4 2020: D+6.1 2016: R+3.1 2012: R+7.9 2008: D+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -109.19%
• Current HPI: 290.9224
• 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

1 event — show timeline

• 2023-12-14 Listed $145,900 Zillow