632 Pine St · Lincoln, MI 48625

$75,000

2 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 22 Days on market

Manufactured home Built 1971 1.80 ac lot

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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 +23.7/30.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +5.2/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

AN OPPORTUNITY TO OWN A VACATION OR YEAR ROUND HOME ON A LAND CONTRACT! THIS WELL MAINTAINED MOBILE HOME HAS A GREAT ADDITION ADDING 340 SQ. FEET OF LIVING AREA WITH A SECOND BATH & LAUNDRY AREA. THE ADDITION IS VERY OPEN WITH CARPET & DRYWALL & COULD CONTINUE TO BE USED AS A FAMILY ROOM OR PARTIONED FOR ADDITIONAL BEDROOMS. MOBILE HOME IS IN VERY GOOD CONDITION AND IS VERY CLEAN! THERE IS A LARGE DECK OFF THE FRONT OF THE MOBILE AND THE PROPERTY INCLUDES 4 LOTS (1.7 ACRES) WITH 3 LOTS BEHIND THE HOME FOR ADDITIONAL PRIVACY. BERTHA LAKE BEACH & BOAT LAUNCH IS JUST DOWN THE STREET! THIS WOULD BE AN IDEAL SNOWBIRDS SUMMER HOME!

Key facts

• 14x16 deck
• Fenced yard
• 1.8 surveyed acres

Tags

• ACCESS TO BERTHA LAKE
• 14X16 DECK
• FENCED YARD
• NEWLY RENOVATED ADDITION
• LARGE STORAGE CONTAINER
• 1.8 SURVEYED ACRES

Property features AI

Finance

• Other: Property classified as residential; Acreage approximately 1.8 acres; Subdivision: Summer Set Sub
• Financial info: No land contract
• HOA & community: Community park

Exterior

• Parking: No parking details provided
• Security: No security features listed
• Utilities: Private well water; Septic system; Electricity connected (100 Amp service with circuit breakers); Propane fuel (propane tank owned); Electric water heater
• Home design: Manufactured single-wide home; One-story; Built in 1971; Facing west (side of street: W)
• Construction: Aluminum and vinyl siding exterior; Piers and slab foundation
• Exterior features: Deck; Fenced yard; Shed (outbuilding); Beach access with sandy bottom; Road frontage; Deep lot (150+ ft), unpaved; Rolling/hilly and wooded site; Rural view

Interior

• Kitchen: Eat-in kitchen (approx. 10 x 11); Range/oven; Refrigerator
• Bedrooms: Main-level primary bedroom (approx. 8 x 8) with carpet; Main-level second bedroom (approx. 11 x 11) with carpet
• Flooring: Carpet in bedrooms; Laminate in living room; Ceramic floors in some areas; Vinyl in primary bathroom
• Bathrooms: Two full bathrooms; Main-level bathroom with vinyl flooring (approx. 8 x 7); Main-level second bathroom (approx. 6 x 7)
• Heating & cooling: Space heater; Wall/window A/C
• Interior features: Cable/internet available; Ceramic floors; Living room; Eat-in kitchen; Entry
• Laundry & utility: Main-floor laundry; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $75k.

Deal economics

• At list price, monthly cash flow is $142 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($765 rent vs $75k).
• Recommended offer: $74k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 2.9% in Lincoln — 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 66/100 on livability (#428 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: crime F, amenities F, commute F.
• Farwell Area Schools (town): math 24% / reading 34% proficiency, ranked #388 of 540 in MI (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Farwell Elementary School (math 32% / reading 27%, grade F, #866 of 1,397 statewide, top 65%, 329 students, 77% FRL); Farwell Middle School (math 25% / reading 33%, grade F, #355 of 493 statewide, top 72%, 300 students, 68% FRL).
• Market conditions: 247 active listings in the ZIP; 77 units permitted in Clare County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Clare County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y ago; this cycle's ask has dropped $10k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $75k implies a 277% gain — meaningful room to come down on a strong offer.

Recommended offer $73,875 (1.5% below list)

Questions for the listing agent

1. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.02% ✓
• Cap rate: 8.57%
• Cash-on-cash: 8.14%
• DSCR: 1.36
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -3.9%
• Equity multiple: 0.85×
• Total profit: $-3,105
• Equity at exit: $11,183

10-year hold

• IRR: 5.7%
• Equity multiple: 1.42×
• Total profit: $8,882
• Equity at exit: $6,485

Cash invested: $21,000 (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 48625

• Home prices YoY: -25.5%
• Active inventory: 247
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $765 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$37 /mo · $445/yr
• Insurance: −$31
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$161
• Net cashflow: $142

Break-even live

Break-even rent $584

Max offer price $75,000

Occupancy floor 76%

Sensitivity live

Price	-10% $185	-5% $164	+0% $142	+5% $121	+10% $100
Rent	-10% $82	-5% $112	+0% $142	+5% $173	+10% $203
Rate	-1.0pp $180	-0.5pp $162	base $142	+0.5pp $123	+1.0pp $103

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-22
   days on market $75,000 Active 22 DOM
2. 2026-06-21
   days on market $75,000 Active 21 DOM
3. 2026-06-21
   days on market $75,000 Active 20 DOM
4. 2026-06-18
   days on market $75,000 Active 18 DOM
5. 2026-06-17
   days on market $75,000 Active 17 DOM
6. 2026-06-16
   days on market $75,000 Active 16 DOM
7. 2026-06-15
   days on market $75,000 Active 15 DOM
8. 2026-06-13
   days on market $75,000 Active 13 DOM
9. 2026-06-12
   remarks 640-char remark
10. 2026-06-12
    pricedays on market $75,000 Active 12 DOM
11. 2026-06-09
    days on market $85,000 Active 9 DOM
12. 2026-06-08
    days on market $85,000 Active 8 DOM
13. 2026-06-07
    days on market $85,000 Active 7 DOM
14. 2026-06-07
    days on market $85,000 Active 6 DOM
15. 2026-06-04
    days on market $85,000 Active 3 DOM
16. 2026-06-02
    days on market $85,000 Active 2 DOM
17. 2026-05-31
    remarks 639-char remark
18. 2026-05-31
    listed $85,000 Active 1 DOM

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

Tax reassessment forecast MI · Partial reset (capped growth)

• Current annual tax: $445 · $37/mo
• Projected year-2 tax: $800 · $67/mo
• Expected delta: +$355/yr (+$30/mo · 79.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $9,175
• − Mortgage interest: −$4,201
• − Property taxes: −$445
• − Insurance: −$375
• − Repairs & maintenance: −$734
• − Management: −$734
• − Depreciation: −$2,182
• Taxable income: $505
• Est. tax owed @ 24.0%: −$121
• After-tax cash flow: $1,588/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: Farwell Area Schools
• NCES district ID: 2614100
• Math proficiency: 24% ▼ -8.00%
• Reading proficiency: 34% ▼ -8.00%
• Median HH income: $36,696
• Composite: 24.07/100
• National rank: #7760
• State rank: #388 of 540 in MI

Livability — Lincoln

• Score: 66/100
• State rank: #428
• US rank: #11892

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 12,939

Population outlook (Clare County) Hauer SSP2

• Today (2025): 29,283 people
• By 2030: 28,199 · -3.7%
• By 2040: 25,722 · -12.2%
• By 2050: 23,372 · -20.2%
• By 2075: 18,569 · -36.6%
• By 2100: 14,320 · -51.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 6% Lithuanian 4% Scotch-Irish 2%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Clare

• 2024 margin: Solid R (+37.6) · D 30.5% · R 68.1% · Other 1.4%
• 2008→2024 swing: -42.4pp toward R · 2008: 4.8pp · 2024: -37.6pp
• All cycles: 2024: R+37.6 2020: R+34.8 2016: R+31.8 2012: R+4.8 2008: D+4.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -80.38%
• Current HPI: 234.9586
• 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

+327.1% since first listed

10 events — show timeline

• 2026-05-31 Listed $85,000 MiRealSource-MiMLS
• 2026-04-07 Listing Removed — MiRealSource-MiMLS
• 2026-02-17 Relisted — MiRealSource-MiMLS
• 2026-02-16 Listing Removed — MiRealSource-MiMLS
• 2025-10-17 Price Changed $68,900 MiRealSource-MiMLS
• 2025-08-15 Listed $74,900 MiRealSource-MiMLS
• 2015-07-23 Sold (MLS) $19,900 MiRealSource-MiMLS
• 2015-07-23 Sold (MLS) $19,900 REALCOMP
• 2015-06-30 Listed $19,900 MiRealSource-MiMLS
• 2015-06-30 Listed $19,900 REALCOMP

Property tax history

-2.5%/yr

Latest (2025): $445 · -64.1% YoY. Source: county tax records.