4498 Dutchess Ct NW #18 · Walker, MI 49534

$61,100

3 bd · 2.0 ba · 1,216 sqft · Manufactured · 42 Days on market

Manufactured home Built 2026 Good condition $50/sqft · 20% below area Est $77k · 20% under

---

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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.5/5.0
• Schools +4.0/10.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Appreciation +2.5/10.0
• Manufactured-home adj. -6.7

Listing remarks

Your brand new 3 bedroom, 2 bathroom home is waiting for you to move in! This comfortable home features premium entry doors, a modern bathroom, as well as new brand name appliances. In the community, enjoy with your friends and family all the amenities we have to offer such as community events, a basketball court, and a library. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

Key facts

• Basketball court
• Modern bathroom
• Premium entry doors

Tags

• PREMIUM ENTRY DOORS
• MODERN BATHROOM
• NEW BRAND NAME APPLIANCES
• BASKETBALL COURT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $61k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $637 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $61k).
• Recommended offer: $59k (3.0% below list) — sets the bar for market timing.
• Cap rate 18.8% vs local median 4.0% in Walker — 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 74/100 on livability (#188 in MI, #4,765 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: amenities F, health & safety F.
• Kenowa Hills Public Schools (suburban): math 33% / reading 46% proficiency, ranked #205 of 540 in MI (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Kenowa Hills Middle School (math 28% / reading 44%, grade F, #269 of 493 statewide, top 56%, 623 students, 54% FRL).
• Market conditions: Rents rising fast (+7.9%/yr); 154 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 $422 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 7.9% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($59k) is reasonable based on typical stale-listing flexibility.

Recommended offer $59,267 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 2.19% ✓
• Cap rate: 18.80%
• Cash-on-cash: 44.67%
• DSCR: 2.99
• GRM: 3.8

CMA / ARV

• ARV (median comp): $76,843
• List price: $61,100
• Delta: -20.49%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1123 Marvin Ct NW Lot 46	0.27mi	3/2.0	1,216 (0%)	4mo	$75,000	$62	84
4676 Gardens Blvd NW	0.28mi	3/2.0	1,210 (-0%)	9mo	$58,000	$48	78
4598 Gardens Blvd NW	0.20mi	3/2.0	1,293 (+6%)	8mo	$94,900	$73	74
1111 Marvin Ct NW	0.25mi	3/2.0	1,216 (0%)	18mo	$82,500	$68	73
135 Shapell Ln NW	0.55mi	3/2.0	1,371 (+13%)	10mo	$90,000	$66	44

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 · 7.87% rent growth · sell at horizon

5-year hold

• IRR: 47.2%
• Equity multiple: 3.20×
• Total profit: $37,569
• Equity at exit: $9,110

10-year hold

• IRR: 54.9%
• Equity multiple: 7.80×
• Total profit: $116,302
• Equity at exit: $5,283

Cash invested: $17,108 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 13 active · 3 under contract
• Months of supply: 26.0 mo (4%/mo absorbed)
• Median asking: $61,600 ($56/sqft)
• Median days on market: 37 d
• This list price: 31% of active listings are priced below it
• ARV vs active asking: +13.5% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 49534

• Home prices YoY: -28.4%
• Rents YoY: 7.9%
• Active inventory: 154
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,341 medium
• Mortgage (P&I): −$320
• Tax est. 1.5%: −$76 /mo · $916/yr
• Insurance: −$25
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $637

Break-even live

Break-even rent $534

Max offer price $61,100

Occupancy floor 48%

Sensitivity live

Price	-10% $679	-5% $658	+0% $637	+5% $616	+10% $595
Rent	-10% $531	-5% $584	+0% $637	+5% $690	+10% $743
Rate	-1.0pp $668	-0.5pp $652	base $637	+0.5pp $621	+1.0pp $605

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: $15,275
• Closing costs: $1,833
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11139 Mountain Ash Ave NW Grand Rapids, MI	2.0	1.5	900	$1,600	$1.78	15d	1	1.13mi
680 Lake Michigan Dr NW Unit O-686 Grand Rapids, MI	2.0	1.0	900	$1,375	$1.53	46d	1	1.35mi
680 Lake Michigan Dr NW Unit O-682 Grand Rapids, MI	2.0	1.0	900	$1,275	$1.42	93d	1	1.35mi
680 Lake Michigan Dr NW Unit O-680 Grand Rapids, MI	2.0	1.0	900	$1,375	$1.53	15d	1	1.35mi

Listing history 1 events

1. 2026-04-18
   listed $61,100 Active 475-char remark

ⓘ 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: $16,087
• − Mortgage interest: −$3,423
• − Property taxes: −$916
• − Insurance: −$306
• − Repairs & maintenance: −$1,287
• − Management: −$1,287
• − Depreciation: −$1,777
• Taxable income: $7,091
• Est. tax owed @ 24.0%: −$1,702
• After-tax cash flow: $5,940/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 · 1 photo

Good 80/100 None rehab

This brand new 3-bedroom, 2-bathroom home is move-in ready with modern finishes and new appliances. It's located in a community with amenities like a basketball court and library, making it an attractive option for both buyers and renters.

Value-add opportunities

• Both Landscaping — Enhances curb appeal and adds value. ↑
• Both Community amenities — Exploits the community's amenities for marketing. ↑

F Composite school gradezoned avg 40/100

Zoned Schools

Elementary Zinser Elementary School D- MI #433/1,397 Nat'l #14,504/41,679 Middle Kenowa Hills Middle School F MI #269/493 Nat'l #7,206/14,009 High Kenowa Hills High School F MI #334/713 Nat'l #9,001/17,239

Schools (NCES district)

• District: Kenowa Hills Public Schools
• NCES district ID: 2620280
• Math proficiency: 33% ▬ 0.00%
• Reading proficiency: 46% ▼ -6.00%
• Median HH income: $53,387
• Composite: 34.36/100
• National rank: #5221
• State rank: #205 of 540 in MI

B Composite livability gradescore 74/100

Livability — Walker

• Score: 74/100
• State rank: #188
• US rank: #4765

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Walker, MI
• County: Kent County · 712,484 people
• City population: 33,350
• Metro: Grand Rapids-Kentwood, MI
• Population (ZIP): 23,719
• Household income: $81,657
• Rent vs Own: 29.9% rent · 70.1% own
• Severe rent burden: 6% of renters

---

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 (87%)
• Race & ethnicity: White 87% Two or more races 5% Hispanic / Latino 4% Black 2% Asian 2%
• Common ancestry: Iranian 20% Romanian 12% Lithuanian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 95% English-only · Spanish 1% Other Indo-European 1% Tagalog/Filipino 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: ▼ -107.59%
• Current HPI: 270.866
• Rent YoY: ▲ 7.87%
• Metro: Grand Rapids-Kentwood, 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