6616-502 Farmstead Plan · Sparta, MI 49345

$99,900

3 bd · 2.0 ba · 1,056 sqft · Manufactured · 921 Days on market

Good condition $95/sqft · 59% above area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this stunning brand-new home! Enjoy coming home to this delightful 3-bedroom, 2-bathroom home that is bubbling with character! Upon entering you are greeted with a gorgeous kitchen that features Cottonwood colored cabinets, a butler's pantry, an all-stainless steel appliance package, and a farmhouse white apron kitchen sink with a matte black gooseneck faucet. Your living room features a lovely media wall with a shelf and black wall sconces along with beautiful laminate flooring throughout. While retreating to your master bedroom you will notice a feature wall in the foyer with a framed mirror, sconces, and hangers that is across from the laundry area. Your master bedroom gives room for a walk-in closet and a generous attached bathroom that boasts a double vanity with square sinks and framed mirrors along with an abundance of storage space. There is no losing with this fantastic home!

Key facts

• Listed 920 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $100k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $589 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.4% vs local median 4.5% 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 $691 of loan paydown is wiped out by about $3k 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 + 3.0% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 921 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.

Recommended offer $87,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 921 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: 1.62% ✓
• Cap rate: 13.37%
• Cash-on-cash: 25.26%
• DSCR: 2.12
• GRM: 5.1

CMA / ARV

• ARV (median comp): $63,000
• List price: $99,900
• Delta: 58.57%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
68 Viking Dr NW	0.08mi	3/2.0	1,032 (-2%)	5mo	$63,000	$61	88
228 Circle Dr	0.12mi	3/2.0	1,056 (0%)	19mo	$80,000	$76	78

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: 18.8%
• Equity multiple: 1.76×
• Total profit: $21,341
• Equity at exit: $14,895

10-year hold

• IRR: 27.2%
• Equity multiple: 3.39×
• Total profit: $66,975
• Equity at exit: $8,638

Cash invested: $27,972 (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: 5.1×

Monthly cashflow live

• Estimated rent: $1,619 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,498/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $589

Break-even live

Break-even rent $874

Max offer price $99,900

Occupancy floor 59%

Sensitivity live

Price	-10% $658	-5% $623	+0% $589	+5% $554	+10% $520
Rent	-10% $461	-5% $525	+0% $589	+5% $653	+10% $717
Rate	-1.0pp $639	-0.5pp $614	base $589	+0.5pp $563	+1.0pp $537

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $99,900 Active 921 DOM
2. 2026-06-18
   days on market $99,900 Active 918 DOM
3. 2026-06-17
   days on market $99,900 Active 917 DOM
4. 2026-06-16
   days on market $99,900 Active 916 DOM
5. 2026-06-15
   days on market $99,900 Active 915 DOM
6. 2026-06-14
   days on market $99,900 Active 913 DOM
7. 2026-06-13
   days on market $99,900 Active 912 DOM
8. 2026-06-10
   days on market $99,900 Active 910 DOM
9. 2026-06-09
   days on market $99,900 Active 909 DOM
10. 2026-06-08
    days on market $99,900 Active 908 DOM
11. 2026-06-07
    days on market $99,900 Active 907 DOM
12. 2026-06-03
    days on market $99,900 Active 903 DOM
13. 2026-06-03
    days on market $99,900 Active 902 DOM
14. 2026-06-01
    days on market $99,900 Active 901 DOM
15. 2026-05-31
    days on market $99,900 Active 900 DOM
16. 2023-12-14
    listed $99,900 Active 908-char remark

    Show marketing remark (908 chars)

    Welcome to this stunning brand-new home! Enjoy coming home to this delightful 3-bedroom, 2-bathroom home that is bubbling with character! Upon entering you are greeted with a gorgeous kitchen that features Cottonwood colored cabinets, a butler's pantry, an all-stainless steel appliance package, and a farmhouse white apron kitchen sink with a matte black gooseneck faucet. Your living room features a lovely media wall with a shelf and black wall sconces along with beautiful laminate flooring throughout. While retreating to your master bedroom you will notice a feature wall in the foyer with a framed mirror, sconces, and hangers that is across from the laundry area. Your master bedroom gives room for a walk-in closet and a generous attached bathroom that boasts a double vanity with square sinks and framed mirrors along with an abundance of storage space. There is no losing with this fantastic home!

ⓘ 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: $19,431
• − Mortgage interest: −$5,596
• − Property taxes: −$1,498
• − Insurance: −$500
• − Repairs & maintenance: −$1,555
• − Management: −$1,555
• − Depreciation: −$2,906
• Taxable income: $5,822
• Est. tax owed @ 24.0%: −$1,397
• After-tax cash flow: $5,669/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 · 3 photos

Good 80/100 Cosmetic rehab

This manufactured home presents as move-in ready with a good condition score and minimal repairs needed. Potential value can be increased with minor updates to the exterior, landscaping, and interior finishes.

Value-add opportunities

• Both Paint touch-ups — Fresh paint enhances curb appeal and interior aesthetics.
• Both Landscaping — A well-maintained yard can significantly increase both resale and rental value.
• Both Window treatments — Adding curtains or blinds can improve both the home's appearance and energy efficiency.
• Both Flooring — Upgrading the flooring can enhance the home's overall look and increase its value.
• Both Bathroom updates — Modernizing bathrooms can significantly boost both resale and rental value.
• Both Kitchen backsplash — A stylish backsplash can add visual interest and value to the kitchen space.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint touch-ups — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Landscaping — A well-maintained yard can significantly increase both resale and rental value. ↑
• Both Window treatments — Adding curtains or blinds can improve both the home's appearance and energy efficiency. ↑
• Both Flooring — Upgrading the flooring can enhance the home's overall look and increase its value. ↑
• Both Bathroom updates — Modernizing bathrooms can significantly boost both resale and rental value. ↑
• Both Kitchen backsplash — A stylish backsplash can add visual interest and value to the kitchen space. ↑

ⓘ 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 $99,900 Zillow