2311 Theatre Trl Lot 12 · Union, MI 48858

$47,500

3 bd · 2.0 ba · 720 sqft · Manufactured · 5 Days on market

Built 1997 Good condition Est $42k · 14% over $425/mo HOA · 37% of rent

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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 +29.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +5.0/5.0
• Condition / age +3.8/5.0
• Schools +3.3/10.0
• Livability +2.5/5.0
• ARV discount +1.3/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Affordable, updated, and ready for you to move in! This beautifully renovated 3-bedroom, 2-bath home in Broadway Acres offers a great opportunity to enjoy homeownership for less than you might expect. With special financing options available, owning your own home could be more attainable--and in many cases comparable to or even less than typical monthly rent. Inside, you'll find fresh updates throughout, including modern flooring and a comfortable, functional layout. The primary suite features a private full bath, with two additional bedrooms offering flexibility for guests, family, or a home office. Broadway Acres continues to improve, with planned road maintenance coming this summer--adding even more value to the community. If you've been thinking about making the move from renting to owning, this is a great place to start. Don't miss this opportunity!

Key facts

• Built 1997
• Listed 5 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $48k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $163 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $48k).

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Mt. Pleasant City School District (town): math 33% / reading 48% proficiency, ranked #229 of 540 in MI (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pullen Elementary School (327 students, 68% FRL); Fancher School (math 44% / reading 56%, grade D+, #371 of 1,397 statewide, top 27%, 406 students, 47% FRL); Mt Pleasant Senior High School (math 42% / reading 57%, grade D, #154 of 713 statewide, top 25%, 1,058 students, 42% FRL) — zoned schools average 53% FRL vs 36% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+16.9%/yr); 249 active listings in the ZIP; 72 units permitted in Isabella County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $328 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Isabella County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $13k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts 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.

Risks & watch-outs

• Watch-outs: HOA is 37% of rent.

Recommended offer $47,500

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 2.44% ✓
• Cap rate: 10.41%
• Cash-on-cash: 14.71%
• DSCR: 1.65
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $41,760
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2311 Theatre Trl Lot 12	0.00mi	3/2.0	720 (0%)	1mo	$42,000	$58	99

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 15.3%
• Equity multiple: 1.68×
• Total profit: $9,097
• Equity at exit: $7,082

10-year hold

• IRR: 29.6%
• Equity multiple: 4.78×
• Total profit: $50,327
• Equity at exit: $4,107

Cash invested: $13,300 (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 48858

• Home prices YoY: -31.9%
• Rents YoY: 16.9%
• Active inventory: 249
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,160 medium
• Mortgage (P&I): −$249
• Tax est. 1.5%: −$59 /mo · $712/yr
• Insurance: −$20
• HOA: −$425
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $163

Break-even live

Break-even rent $953

Max offer price $47,500

Occupancy floor 81%

Sensitivity live

Price	-10% $196	-5% $179	+0% $163	+5% $147	+10% $130
Rent	-10% $71	-5% $117	+0% $163	+5% $209	+10% $255
Rate	-1.0pp $187	-0.5pp $175	base $163	+0.5pp $151	+1.0pp $138

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: $11,875
• Closing costs: $1,425
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $425 · $5,100/yr

Listing history 13 events

1. 2026-04-14
   status Pending 866-char remark

   Show marketing remark (866 chars)

   Affordable, updated, and ready for you to move in! This beautifully renovated 3-bedroom, 2-bath home in Broadway Acres offers a great opportunity to enjoy homeownership for less than you might expect. With special financing options available, owning your own home could be more attainable--and in many cases comparable to or even less than typical monthly rent. Inside, you'll find fresh updates throughout, including modern flooring and a comfortable, functional layout. The primary suite features a private full bath, with two additional bedrooms offering flexibility for guests, family, or a home office. Broadway Acres continues to improve, with planned road maintenance coming this summer--adding even more value to the community. If you've been thinking about making the move from renting to owning, this is a great place to start. Don't miss this opportunity!

2. 2026-04-14
   status Pending 866-char remark

   Show marketing remark (866 chars)

   Affordable, updated, and ready for you to move in! This beautifully renovated 3-bedroom, 2-bath home in Broadway Acres offers a great opportunity to enjoy homeownership for less than you might expect. With special financing options available, owning your own home could be more attainable--and in many cases comparable to or even less than typical monthly rent. Inside, you'll find fresh updates throughout, including modern flooring and a comfortable, functional layout. The primary suite features a private full bath, with two additional bedrooms offering flexibility for guests, family, or a home office. Broadway Acres continues to improve, with planned road maintenance coming this summer--adding even more value to the community. If you've been thinking about making the move from renting to owning, this is a great place to start. Don't miss this opportunity!

3. 2026-04-14
   status Pending

   Show marketing remark (866 chars)

   Affordable, updated, and ready for you to move in! This beautifully renovated 3-bedroom, 2-bath home in Broadway Acres offers a great opportunity to enjoy homeownership for less than you might expect. With special financing options available, owning your own home could be more attainable--and in many cases comparable to or even less than typical monthly rent. Inside, you'll find fresh updates throughout, including modern flooring and a comfortable, functional layout. The primary suite features a private full bath, with two additional bedrooms offering flexibility for guests, family, or a home office. Broadway Acres continues to improve, with planned road maintenance coming this summer--adding even more value to the community. If you've been thinking about making the move from renting to owning, this is a great place to start. Don't miss this opportunity!

4. 2026-04-13
   status Active 866-char remark

   Show marketing remark (866 chars)

   Affordable, updated, and ready for you to move in! This beautifully renovated 3-bedroom, 2-bath home in Broadway Acres offers a great opportunity to enjoy homeownership for less than you might expect. With special financing options available, owning your own home could be more attainable--and in many cases comparable to or even less than typical monthly rent. Inside, you'll find fresh updates throughout, including modern flooring and a comfortable, functional layout. The primary suite features a private full bath, with two additional bedrooms offering flexibility for guests, family, or a home office. Broadway Acres continues to improve, with planned road maintenance coming this summer--adding even more value to the community. If you've been thinking about making the move from renting to owning, this is a great place to start. Don't miss this opportunity!

5. 2026-04-13
   status Active 866-char remark

   Show marketing remark (866 chars)

   Affordable, updated, and ready for you to move in! This beautifully renovated 3-bedroom, 2-bath home in Broadway Acres offers a great opportunity to enjoy homeownership for less than you might expect. With special financing options available, owning your own home could be more attainable--and in many cases comparable to or even less than typical monthly rent. Inside, you'll find fresh updates throughout, including modern flooring and a comfortable, functional layout. The primary suite features a private full bath, with two additional bedrooms offering flexibility for guests, family, or a home office. Broadway Acres continues to improve, with planned road maintenance coming this summer--adding even more value to the community. If you've been thinking about making the move from renting to owning, this is a great place to start. Don't miss this opportunity!

6. 2026-04-13
   status Active

   Show marketing remark (866 chars)

   Affordable, updated, and ready for you to move in! This beautifully renovated 3-bedroom, 2-bath home in Broadway Acres offers a great opportunity to enjoy homeownership for less than you might expect. With special financing options available, owning your own home could be more attainable--and in many cases comparable to or even less than typical monthly rent. Inside, you'll find fresh updates throughout, including modern flooring and a comfortable, functional layout. The primary suite features a private full bath, with two additional bedrooms offering flexibility for guests, family, or a home office. Broadway Acres continues to improve, with planned road maintenance coming this summer--adding even more value to the community. If you've been thinking about making the move from renting to owning, this is a great place to start. Don't miss this opportunity!

7. 2026-04-09
   historical 866-char remark

   Show marketing remark (866 chars)

   Affordable, updated, and ready for you to move in! This beautifully renovated 3-bedroom, 2-bath home in Broadway Acres offers a great opportunity to enjoy homeownership for less than you might expect. With special financing options available, owning your own home could be more attainable--and in many cases comparable to or even less than typical monthly rent. Inside, you'll find fresh updates throughout, including modern flooring and a comfortable, functional layout. The primary suite features a private full bath, with two additional bedrooms offering flexibility for guests, family, or a home office. Broadway Acres continues to improve, with planned road maintenance coming this summer--adding even more value to the community. If you've been thinking about making the move from renting to owning, this is a great place to start. Don't miss this opportunity!

8. 2026-04-07
   status Pending 866-char remark

   Show marketing remark (866 chars)

   Affordable, updated, and ready for you to move in! This beautifully renovated 3-bedroom, 2-bath home in Broadway Acres offers a great opportunity to enjoy homeownership for less than you might expect. With special financing options available, owning your own home could be more attainable--and in many cases comparable to or even less than typical monthly rent. Inside, you'll find fresh updates throughout, including modern flooring and a comfortable, functional layout. The primary suite features a private full bath, with two additional bedrooms offering flexibility for guests, family, or a home office. Broadway Acres continues to improve, with planned road maintenance coming this summer--adding even more value to the community. If you've been thinking about making the move from renting to owning, this is a great place to start. Don't miss this opportunity!

9. 2026-04-07
   status Pending 866-char remark

   Show marketing remark (866 chars)

   Affordable, updated, and ready for you to move in! This beautifully renovated 3-bedroom, 2-bath home in Broadway Acres offers a great opportunity to enjoy homeownership for less than you might expect. With special financing options available, owning your own home could be more attainable--and in many cases comparable to or even less than typical monthly rent. Inside, you'll find fresh updates throughout, including modern flooring and a comfortable, functional layout. The primary suite features a private full bath, with two additional bedrooms offering flexibility for guests, family, or a home office. Broadway Acres continues to improve, with planned road maintenance coming this summer--adding even more value to the community. If you've been thinking about making the move from renting to owning, this is a great place to start. Don't miss this opportunity!

10. 2026-04-07
    status Pending

    Show marketing remark (866 chars)

    Affordable, updated, and ready for you to move in! This beautifully renovated 3-bedroom, 2-bath home in Broadway Acres offers a great opportunity to enjoy homeownership for less than you might expect. With special financing options available, owning your own home could be more attainable--and in many cases comparable to or even less than typical monthly rent. Inside, you'll find fresh updates throughout, including modern flooring and a comfortable, functional layout. The primary suite features a private full bath, with two additional bedrooms offering flexibility for guests, family, or a home office. Broadway Acres continues to improve, with planned road maintenance coming this summer--adding even more value to the community. If you've been thinking about making the move from renting to owning, this is a great place to start. Don't miss this opportunity!

11. 2026-04-03
    listed $47,500 Active 866-char remark

    Show marketing remark (866 chars)

    Affordable, updated, and ready for you to move in! This beautifully renovated 3-bedroom, 2-bath home in Broadway Acres offers a great opportunity to enjoy homeownership for less than you might expect. With special financing options available, owning your own home could be more attainable--and in many cases comparable to or even less than typical monthly rent. Inside, you'll find fresh updates throughout, including modern flooring and a comfortable, functional layout. The primary suite features a private full bath, with two additional bedrooms offering flexibility for guests, family, or a home office. Broadway Acres continues to improve, with planned road maintenance coming this summer--adding even more value to the community. If you've been thinking about making the move from renting to owning, this is a great place to start. Don't miss this opportunity!

12. 2026-04-03
    listed $47,500 Active 866-char remark

    Show marketing remark (866 chars)

    Affordable, updated, and ready for you to move in! This beautifully renovated 3-bedroom, 2-bath home in Broadway Acres offers a great opportunity to enjoy homeownership for less than you might expect. With special financing options available, owning your own home could be more attainable--and in many cases comparable to or even less than typical monthly rent. Inside, you'll find fresh updates throughout, including modern flooring and a comfortable, functional layout. The primary suite features a private full bath, with two additional bedrooms offering flexibility for guests, family, or a home office. Broadway Acres continues to improve, with planned road maintenance coming this summer--adding even more value to the community. If you've been thinking about making the move from renting to owning, this is a great place to start. Don't miss this opportunity!

13. 2026-04-03
    listed $47,500 Active

    Show marketing remark (866 chars)

    Affordable, updated, and ready for you to move in! This beautifully renovated 3-bedroom, 2-bath home in Broadway Acres offers a great opportunity to enjoy homeownership for less than you might expect. With special financing options available, owning your own home could be more attainable--and in many cases comparable to or even less than typical monthly rent. Inside, you'll find fresh updates throughout, including modern flooring and a comfortable, functional layout. The primary suite features a private full bath, with two additional bedrooms offering flexibility for guests, family, or a home office. Broadway Acres continues to improve, with planned road maintenance coming this summer--adding even more value to the community. If you've been thinking about making the move from renting to owning, this is a great place to start. Don't miss this opportunity!

ⓘ 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: $13,919
• − Mortgage interest: −$2,661
• − Property taxes: −$712
• − Insurance: −$238
• − Repairs & maintenance: −$1,114
• − Management: −$1,114
• − HOA: −$5,100
• − Depreciation: −$1,382
• Taxable income: $1,599
• Est. tax owed @ 24.0%: −$384
• After-tax cash flow: $1,573/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

Good 75/100 Cosmetic rehab

This well-maintained, updated 3-bedroom, 2-bath home in Broadway Acres is move-in ready and offers a great opportunity for homeownership.

Value-add opportunities

• Resale paint exterior — enhances curb appeal
• Rental replace carpet — improves comfort and reduces maintenance

Renovation cost estimate screening

Value-add ROI direction

• Resale paint exterior — enhances curb appeal ↑
• Rental replace carpet — improves comfort and reduces maintenance ↑

ⓘ 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: Mt. Pleasant City School District
• NCES district ID: 2624750
• Math proficiency: 33% ▼ -5.00%
• Reading proficiency: 48% ▼ -3.00%
• Median HH income: $32,344
• Composite: 33.16/100
• National rank: #5548
• State rank: #229 of 540 in MI

Livability — Union

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

Census & demographics

• County: Isabella County · 42,226 people
• Metro: Mount Pleasant, MI
• Population (ZIP): 42,226
• Household income: $51,267
• Rent vs Own: 50.2% rent · 49.8% own
• Severe rent burden: 2381.0

Population outlook (Isabella County) Hauer SSP2

• Today (2025): 75,111 people
• By 2030: 77,600 · +3.3%
• By 2040: 79,890 · +6.4%
• By 2050: 81,568 · +8.6%
• By 2075: 86,602 · +15.3%
• By 2100: 92,201 · +22.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Two or more races 6% Hispanic / Latino 5% Native American 4% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Romanian 6% Slovak 3% Iranian 3%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% German/W. Germanic 0%

Political lean MEDSL · Isabella

• 2024 margin: Lean R (+7.5) · D 45.5% · R 53.0% · Other 1.6%
• 2008→2024 swing: -26.7pp toward R · 2008: 19.2pp · 2024: -7.5pp
• All cycles: 2024: R+7.5 2020: R+2.5 2016: R+3.7 2012: D+9.3 2008: D+19.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -96.75%
• Current HPI: 206.1153
• Rent YoY: ▲ 16.89%
• Metro: Mount Pleasant, 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

Price history

+0.0% since first listed

13 events — show timeline

• 2026-04-14 Pending — REALCOMP
• 2026-04-14 Pending — MiRealSource-MiMLS
• 2026-04-14 Pending — SW Michigan MLS
• 2026-04-13 Relisted — REALCOMP
• 2026-04-13 Relisted — MiRealSource-MiMLS
• 2026-04-13 Relisted — SW Michigan MLS
• 2026-04-09 Listing Removed — MiRealSource-MiMLS
• 2026-04-07 Pending — REALCOMP
• 2026-04-07 Pending — MiRealSource-MiMLS
• 2026-04-07 Pending — SW Michigan MLS
• 2026-04-03 Listed $47,500 SW Michigan MLS
• 2026-04-03 Listed $47,500 MiRealSource-MiMLS
• 2026-04-03 Listed $47,500 REALCOMP