4979 21 Mile Rd · Marion, MI 49665

$52,900

3 bd · 1.0 ba · 910 sqft · Manufactured · 37 Days on market

Manufactured home Built 1974 Good condition 0.30 ac lot $58/sqft · 39% below area Est $86k · 39% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• Appreciation +7.5/10.0
• Condition / age +3.8/5.0
• Schools +3.6/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Manufactured-home adj. -6.7

Listing remarks MLS

Check out this 3 bed, 1 bath home on lot 26 of Flemming Lake Subdivision. Great spot for an up-north getaway, hunting, or recreation camp with shared access to Flemming Lake and the Middle Branch River. Just up the road from the public river access and public land. Home has been renovated and updated nicely over the last few years. Good income potential as a rental, or a great spot to eventually build your dream home. Seller is a licensed real estate agent in the state of Michigan. Take a look!

Key facts

• Renovated
• Income potential
• Updated

Tags

• SHARED ACCESS TO FLEMMING LAKE
• PUBLIC RIVER ACCESS
• RENOVATED
• UPDATED
• INCOME POTENTIAL

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $53k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $216 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($736 rent vs $53k).
• Recommended offer: $51k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.2% vs local median 3.0% in Marion — 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 59/100 on livability (#607 in MI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: crime F, amenities F, commute F.
• Marion Public Schools (rural): math 33% / reading 53% proficiency, ranked #328 of 760 in MI (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Marion Elementary School (math 37% / reading 47%, grade F, #547 of 1,397 statewide, top 41%, 184 students, 80% FRL); Marion High School (math 17% / reading 42%, grade F, #441 of 713 statewide, top 64%, 235 students, 70% FRL) — zoned schools average 75% FRL vs 57% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 38 active listings in the ZIP; 5 units permitted in Osceola County in 2024 (0 in 5+ unit buildings).
• This rent is only 17% of the median local income ($51k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• In year one you build about $6k of equity ($366 loan paydown + $5k appreciation (10.0% local appreciation)).
• Osceola County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($51k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $21k; list at $53k implies a 152% gain — meaningful room to come down on a strong offer.

Recommended offer $51,313 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
6. 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.
7. 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.
8. 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: 1.39% ✓
• Cap rate: 11.18%
• Cash-on-cash: 17.46%
• DSCR: 1.78
• GRM: 6.0

CMA / ARV

• ARV (median comp): $86,198
• List price: $52,900
• Delta: -36.31%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4979 21 Mile Rd	0.00mi	3/1.0	910 (0%)	46mo	$21,000	$23	80
210 S Pine St	2.11mi	3/1.0	1,154 (+27%)	0mo	$162,000	$140	40
202 N Case St	1.84mi	2/1.0 (-1)	1,000 (+10%)	9mo	$60,000	$60	36
310 S Pine St	2.16mi	2/1.0 (-1)	864 (-5%)	19mo	$99,900	$116	35
20392 Tall Pine Dr	1.83mi	2/1.0 (-1)	985 (+8%)	59mo	$99,900	$101	26
136 5th St	2.22mi	2/1.0 (-1)	1,004 (+10%)	32mo	$95,900	$96	23
6415 20 Mile Rd	1.70mi	4/1.0 (+1)	1,032 (+13%)	51mo	$113,000	$109	18
200 N Case St	1.75mi	2/1.0 (-1)	1,183 (+30%)	36mo	$42,000	$36	15
14609 N 50th Ave	0.85mi	2/1.0 (-1)	1,060 (+16%)	38mo	$130,000	$123	15
307 Grover St	2.13mi	2/1.0 (-1)	1,100 (+21%)	46mo	$117,000	$106	15
422 Maple St	2.14mi	1/1.0 (-2)	746 (-18%)	38mo	$75,000	$101	10

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 37.2%
• Equity multiple: 3.87×
• Total profit: $42,548
• Equity at exit: $47,657

10-year hold

• IRR: 32.1%
• Equity multiple: 8.73×
• Total profit: $114,525
• Equity at exit: $102,773

Cash invested: $14,812 (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 49665

• Home prices YoY: 11.3%
• Active inventory: 38
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $736 medium
• Mortgage (P&I): −$277
• Tax est. 1.5%: −$66 /mo · $794/yr
• Insurance: −$22
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$154
• Net cashflow: $216

Break-even live

Break-even rent $463

Max offer price $52,900

Occupancy floor 66%

Sensitivity live

Price	-10% $252	-5% $234	+0% $216	+5% $197	+10% $179
Rent	-10% $157	-5% $186	+0% $216	+5% $245	+10% $274
Rate	-1.0pp $242	-0.5pp $229	base $216	+0.5pp $202	+1.0pp $188

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: $13,225
• Closing costs: $1,587
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Exterior

• Utilities: Well water
• Home design: Residential propertyOther architectural styleBuilt in 1974
• Construction: Aluminum sidingMetal roofCrawl space foundation
• Exterior features: Corner lotPond on the propertyShed(s)

Interior

• Kitchen: OvenRangeRefrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: 6 total roomsStorm windows

Listing history 46 events

1. 2026-08-08
   days on market $52,900 Active 37 DOM
2. 2026-08-07
   days on market $52,900 Active 36 DOM
3. 2026-08-06
   days on market $52,900 Active 35 DOM
4. 2026-08-05
   days on market $52,900 Active 34 DOM
5. 2026-08-04
   days on market $52,900 Active 33 DOM
6. 2026-08-03
   days on market $52,900 Active 32 DOM
7. 2026-07-31
   days on market $52,900 Active 29 DOM
8. 2026-07-30
   days on market $52,900 Active 28 DOM
9. 2026-07-29
   days on market $52,900 Active 27 DOM
10. 2026-07-27
    days on market $52,900 Active 25 DOM
11. 2026-07-25
    days on market $52,900 Active 23 DOM
12. 2026-07-24
    days on market $52,900 Active 22 DOM
13. 2026-07-23
    days on market $52,900 Active 21 DOM
14. 2026-07-22
    days on market $52,900 Active 20 DOM
15. 2026-07-21
    days on market $52,900 Active 19 DOM
16. 2026-07-18
    days on market $52,900 Active 16 DOM
17. 2026-07-16
    days on market $52,900 Active 14 DOM
18. 2026-07-15
    days on market $52,900 Active 13 DOM
19. 2026-07-14
    days on market $52,900 Active 12 DOM
20. 2026-07-13
    days on market $52,900 Active 11 DOM
21. 2026-07-12
    days on market $52,900 Active 10 DOM
22. 2026-07-12
    days on market $52,900 Active 9 DOM
23. 2026-07-10
    days on market $52,900 Active 8 DOM
24. 2026-07-09
    days on market $52,900 Active 7 DOM
25. 2026-07-07
    days on market $52,900 Active 5 DOM
26. 2026-07-06
    days on market $52,900 Active 4 DOM
27. 2026-07-05
    days on market $52,900 Active 3 DOM
28. 2026-07-05
    days on market $52,900 Active 2 DOM
29. 2026-07-02
    pricedays on marketlisting id $52,900 Active 1 DOM

    Show marketing remark (499 chars)

    Check out this 3 bed, 1 bath home on lot 26 of Flemming Lake Subdivision. Great spot for an up-north getaway, hunting, or recreation camp with shared access to Flemming Lake and the Middle Branch River. Just up the road from the public river access and public land. Home has been renovated and updated nicely over the last few years. Good income potential as a rental, or a great spot to eventually build your dream home. Seller is a licensed real estate agent in the state of Michigan. Take a look!

30. 2026-05-10
    price $54,900 565-char remark
31. 2026-05-10
    price $54,900 565-char remark
32. 2026-05-10
    price $54,900
33. 2026-01-20
    price $59,900 565-char remark
34. 2026-01-19
    price $59,900 565-char remark
35. 2026-01-19
    price $59,900
36. 2025-12-01
    listed $64,900 Active 565-char remark
37. 2025-12-01
    listed $64,900 Active 565-char remark
38. 2025-12-01
    listed $64,900 Active
39. 2022-10-17
    soldstatus $21,000 Sold
40. 2022-10-17
    soldstatus $21,000 Sold
41. 2022-10-06
    status Pending
42. 2022-10-06
    status Pending
43. 2022-10-06
    historical
44. 2022-05-13
    listed $44,900 Active
45. 2022-05-13
    listed $44,900
46. 2022-05-13
    listed $44,900 Active

ⓘ 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: $8,827
• − Mortgage interest: −$2,963
• − Property taxes: −$794
• − Insurance: −$264
• − Repairs & maintenance: −$706
• − Management: −$706
• − Depreciation: −$1,539
• Taxable income: $1,854
• Est. tax owed @ 24.0%: −$445
• After-tax cash flow: $2,141/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 · 9 photos

Good 75/100 Cosmetic rehab Est. rehab $4,550–$13,650 screening

This 3-bedroom, 1-bath home has been updated with new cabinets, countertops, and appliances, making it move-in ready. While the exterior could use some freshening up, the interior is in good condition and the property has good curb appeal.

Value-add opportunities

• Both Paint the exterior — Fresh paint enhances curb appeal and can increase both resale and rental value. ↑
• Both Replace the HVAC system — A reliable HVAC system is crucial for both comfort and energy efficiency, impacting both resale and rental value. ↑
• Both Landscaping improvements — A well-maintained yard can significantly boost curb appeal and property value. ↑
• Both Add a fence — A fence can provide privacy and security, enhancing both resale and rental value. ↑
• Both Install a security system — A security system can deter potential buyers and renters, increasing both resale and rental value. ↑
• Both Add a deck or patio — An outdoor living space can increase the home's appeal and value, especially for potential renters looking for a place to relax and entertain guests. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 36/100

Zoned Schools

Elementary Marion Elementary School F MI #547/1,397 Nat'l #17,861/41,679 High Marion High School F MI #441/713 Nat'l #11,215/17,239

Schools (NCES district)

• District: Marion Public Schools
• NCES district ID: 2622800
• Math proficiency: 33% ▲ 16.00%
• Reading proficiency: 53% ▲ 31.00%
• Median HH income: $35,461
• Composite: 37.86/100
• National rank: #8710
• State rank: #328 of 760 in MI

D Composite livability gradescore 59/100

Livability — Marion

• Score: 59/100
• State rank: #607
• US rank: #20314

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Osceola · 21,724 people
• Population (ZIP): 4,022
• Household income: $51,125
• Rent vs Own: 13.0% rent · 87.0% own
• Severe rent burden: 2% of renters

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Population outlook (Osceola County) Hauer SSP2

• Today (2025): 21,724 people
• By 2030: 20,769 · -4.4%
• By 2040: 18,720 · -13.8%
• By 2050: 16,611 · -23.5%
• By 2075: 11,942 · -45.0%
• By 2100: 7,546 · -65.3%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Iranian 11% Romanian 3% Lithuanian 2%
• Foreign-born: 0%
• Languages at home: 94% English-only · German/W. Germanic 5% Spanish 1%

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Political lean MEDSL · Osceola

• 2024 margin: Solid R (+47.9) · D 25.2% · R 73.1% · Other 1.7%
• 2008→2024 swing: -37.7pp toward R · 2008: -10.1pp · 2024: -47.9pp
• All cycles: 2024: R+47.9 2020: R+46.3 2016: R+43.7 2012: R+21.0 2008: R+10.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 26.88%
• Current HPI: 264.0932
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

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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

Property features AI

Exterior

• Utilities: Well water
• Home design: Residential propertyOther architectural styleBuilt in 1974
• Construction: Aluminum sidingMetal roofCrawl space foundation
• Exterior features: Corner lotPond on the propertyShed(s)

Interior

• Kitchen: OvenRangeRefrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: 6 total roomsStorm windows

Price history

+17.8% since first listed

25 events — show timeline

• 2026-07-02 Listed $52,900 REALCOMP
• 2026-07-02 Listed $52,900 SW Michigan MLS
• 2026-07-02 Listed $52,900 MiRealSource-MiMLS
• 2026-05-27 Listing Removed — MiRealSource-MiMLS
• 2026-05-26 Listing Removed — Greater Lansing AoR
• 2026-05-26 Listing Removed — REALCOMP
• 2026-05-10 Price Changed $54,900 MiRealSource-MiMLS
• 2026-05-10 Price Changed $54,900 REALCOMP
• 2026-05-10 Price Changed $54,900 SW Michigan MLS
• 2026-01-20 Price Changed $59,900 MiRealSource-MiMLS
• 2026-01-19 Price Changed $59,900 REALCOMP
• 2026-01-19 Price Changed $59,900 SW Michigan MLS
• 2025-12-01 Listed $64,900 REALCOMP
• 2025-12-01 Listed $54,900 Greater Lansing AoR
• 2025-12-01 Listed $64,900 MiRealSource-MiMLS
• 2022-10-17 Sold (MLS) $21,000 Greater Lansing AoR
• 2022-10-17 Sold (MLS) $21,000 SW Michigan MLS
• 2022-10-17 Sold (MLS) $21,000 REALCOMP
• 2022-10-06 Pending — REALCOMP
• 2022-10-06 Pending — SW Michigan MLS
• 2022-10-06 Listing Removed — MiRealSource-MiMLS
• 2022-05-13 Listed $44,900 Greater Lansing AoR
• 2022-05-13 Listed $44,900 SW Michigan MLS
• 2022-05-13 Listed $44,900 MiRealSource-MiMLS
• 2022-05-13 Listed $44,900 REALCOMP