7361 Queens Ct Lot : 32 · Pine River, MI 48801

$55,500

2 bd · 1.0 ba · 914 sqft · SingleFamily · 149 Days on market

Built 1991 Fair condition $61/sqft · 26% above area Est $44k · 26% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful and clean 1991 single-wide trailer in Scottsdale Estates! This 2-bedroom, 1-bath mobile home rounds out at approximately 914 square feet, and features a sizable primary bedroom and open kitchen and living spaces. Driveway and approach are updated as of 2021. Great space for a great price!!

Key facts

• Scottsdale estates
• Open kitchen
• Updated driveway

Tags

• SCOTTSDALE ESTATES
• OPEN KITCHEN
• UPDATED DRIVEWAY

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $56k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $554 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $56k).
• Recommended offer: $49k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Alma Public Schools (town): math 28% / reading 44% proficiency, ranked #288 of 540 in MI (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 89 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 47 units permitted in Gratiot County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $384 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Gratiot County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 149 days — a 12% lower offer ($49k) is reasonable based on typical stale-listing flexibility.

Recommended offer $48,840 (12.0% below list)

Questions for the listing agent

1. It's been on market 149 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.14% ✓
• Cap rate: 18.28%
• Cash-on-cash: 42.80%
• DSCR: 2.90
• GRM: 3.9

CMA / ARV

• ARV (median comp): $44,000
• List price: $55,500
• Delta: 26.14%
• Verdict: OVERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7382 Clans St	0.11mi	2/1.0	896 (-2%)	2mo	$24,900	$28	90
3461 Alma Dr	0.03mi	2/1.0	840 (-8%)	4mo	$44,000	$52	82
3461 Alma Dr Lot : 110	0.03mi	2/1.0	840 (-8%)	4mo	$44,000	$52	82
3331 Lassie Dr	0.12mi	3/2.0 (+1)	980 (+7%)	6mo	$64,000	$65	68
3331 Lassie Dr Lot : 124	0.12mi	3/2.0 (+1)	980 (+7%)	6mo	$64,000	$65	68
7337 Pipes Cir	0.11mi	2/2.0	975 (+7%)	15mo	$22,000	$23	67
7341 Pipes Cir	0.13mi	2/1.0	832 (-9%)	17mo	$39,600	$48	65

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: 39.6%
• Equity multiple: 2.69×
• Total profit: $26,329
• Equity at exit: $8,275

10-year hold

• IRR: 46.0%
• Equity multiple: 5.41×
• Total profit: $68,460
• Equity at exit: $4,799

Cash invested: $15,540 (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 48801

• Home prices YoY: -32.0%
• Active inventory: 89
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,187 medium
• Mortgage (P&I): −$291
• Tax est. 1.5%: −$69 /mo · $832/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $554

Break-even live

Break-even rent $486

Max offer price $55,500

Occupancy floor 48%

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: $13,875
• Closing costs: $1,665
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1589 Mary Ct Alma, MI	3.0	1.5	1012	$1,275	$1.26	43d	1	0.44mi
213 W Downie St Unit B Alma, MI	2.0	1.0	580	$800	$1.38	43d	1	1.36mi

Listing history 6 events

1. 2026-06-04
   days on market $55,500 Active 149 DOM
2. 2026-06-02
   days on market $55,500 Active 148 DOM
3. 2026-06-01
   days on market $55,500 Active 147 DOM
4. 2026-05-31
   days on market $55,500 Active 146 DOM
5. 2026-05-31
   days on market $55,500 Active 145 DOM
6. 2026-01-05
   listed $55,500 Active 300-char remark

   Show marketing remark (300 chars)

   Beautiful and clean 1991 single-wide trailer in Scottsdale Estates! This 2-bedroom, 1-bath mobile home rounds out at approximately 914 square feet, and features a sizable primary bedroom and open kitchen and living spaces. Driveway and approach are updated as of 2021. Great space for a great price!!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,246
• − Mortgage interest: −$3,109
• − Property taxes: −$832
• − Insurance: −$278
• − Repairs & maintenance: −$1,140
• − Management: −$1,140
• − Depreciation: −$1,615
• Taxable income: $6,133
• Est. tax owed @ 24.0%: −$1,472
• After-tax cash flow: $5,180/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

Fair 45/100 Moderate rehab

This 1991 single-wide trailer requires moderate repairs and maintenance to improve its condition and value.

Repairs flagged

• Major exterior siding — Significant wear
• Major flooring — Worn carpet
• Major interior walls — Painted walls, some wear

Value-add opportunities

• Both Paint interior walls — Enhances curb appeal and interior aesthetics
• Both Replace worn carpet — Improves comfort and reduces maintenance
• Both Repair exterior siding — Enhances curb appeal and structural integrity

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear	Major	$15,000–50,000
flooring · Worn carpet	Major	$15,000–50,000
interior walls · Painted walls, some wear	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both Paint interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Replace worn carpet — Improves comfort and reduces maintenance ↑
• Both Repair exterior siding — Enhances curb appeal and structural integrity ↑

ⓘ 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: Alma Public Schools
• NCES district ID: 2602640
• Math proficiency: 28% ▼ -9.00%
• Reading proficiency: 44% ▼ -3.00%
• Median HH income: $36,651
• Composite: 29.84/100
• National rank: #6415
• State rank: #288 of 540 in MI

Livability — Pine River

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 13,433

Population outlook (Gratiot County) Hauer SSP2

• Today (2025): 39,991 people
• By 2030: 38,944 · -2.6%
• By 2040: 36,694 · -8.2%
• By 2050: 34,314 · -14.2%
• By 2075: 27,693 · -30.8%
• By 2100: 20,809 · -48.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 10% Two or more races 4% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 5% Slovak 3% Iranian 2%
• Foreign-born: 2% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 4% French/Haitian/Cajun 1%

Political lean MEDSL · Gratiot

• 2024 margin: Solid R (+31.3) · D 33.7% · R 65.0% · Other 1.4%
• 2008→2024 swing: -35.7pp toward R · 2008: 4.4pp · 2024: -31.3pp
• All cycles: 2024: R+31.3 2020: R+28.3 2016: R+25.6 2012: R+3.9 2008: D+4.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -99.16%
• Current HPI: 210.3208
• 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

• 2026-01-05 Listed $55,500 MiRealSource-MiMLS