5299 124th Ave · Manlius, MI 49408

$79,000

3 bd · 2.0 ba · 1,200 sqft · Other · 23 Days on market

Built 1988 Fair condition

---

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
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Schools +2.2/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful three bedroom two bath double wide on a wooded lot located in the back corner of a very quiet mobile home park. This home features a fireplace, new metal roof, huge deck, and new windows! Also has new Jacuzzi tub in master bath and new paint throughout. This home can be moved out of the park or it can stay on the. 33 acre lot in Dogwood Manor for $485/month and that includes water, sewer and trash! There is also a shed and cement pad in the backyard. Very beautiful and quiet location! It& apos; s a must see!

Key facts

• New metal roof
• New paint
• Huge deck

Tags

• FIREPLACE
• NEW METAL ROOF
• HUGE DECK
• NEW WINDOWS
• NEW JACUZZI TUB
• NEW PAINT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $79k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $454 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).
• Recommended offer: $78k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Fennville Public Schools (rural): math 18% / reading 32% proficiency, ranked #422 of 540 in MI (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 115 active listings in the ZIP; 419 units permitted in Allegan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $546 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($78k) is reasonable based on typical stale-listing flexibility.

Recommended offer $77,815 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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: 1.60% ✓
• Cap rate: 13.20%
• Cash-on-cash: 24.65%
• DSCR: 2.10
• GRM: 5.2

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: 18.0%
• Equity multiple: 1.73×
• Total profit: $16,159
• Equity at exit: $11,779

10-year hold

• IRR: 26.5%
• Equity multiple: 3.32×
• Total profit: $51,415
• Equity at exit: $6,830

Cash invested: $22,120 (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 49408

• Active inventory: 115
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,266 medium
• Mortgage (P&I): −$414
• Tax est. 1.5%: −$99 /mo · $1,185/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $454

Break-even live

Break-even rent $691

Max offer price $79,000

Occupancy floor 59%

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $79,000 Active 23 DOM
2. 2026-06-17
   days on market $79,000 Active 22 DOM
3. 2026-06-16
   days on market $79,000 Active 21 DOM
4. 2026-06-15
   days on market $79,000 Active 20 DOM
5. 2026-06-13
   days on market $79,000 Active 18 DOM
6. 2026-06-12
   days on market $79,000 Active 17 DOM
7. 2026-06-09
   days on market $79,000 Active 14 DOM
8. 2026-06-08
   days on market $79,000 Active 13 DOM
9. 2026-06-07
   days on market $79,000 Active 12 DOM
10. 2026-06-07
    days on market $79,000 Active 11 DOM
11. 2026-06-04
    days on market $79,000 Active 8 DOM
12. 2026-06-02
    days on market $79,000 Active 7 DOM
13. 2026-06-01
    days on market $79,000 Active 6 DOM
14. 2026-05-31
    days on market $79,000 Active 5 DOM
15. 2026-05-31
    days on market $79,000 Active 4 DOM
16. 2026-05-26
    listed $79,000 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: $15,195
• − Mortgage interest: −$4,425
• − Property taxes: −$1,185
• − Insurance: −$395
• − Repairs & maintenance: −$1,216
• − Management: −$1,216
• − Depreciation: −$2,298
• Taxable income: $4,461
• Est. tax owed @ 24.0%: −$1,071
• After-tax cash flow: $4,382/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 · 2 photos

Fair 45/100 Cosmetic rehab

The home has a fair condition with cosmetic updates and some minor repairs needed. Landscaping and exterior paint improvements would significantly enhance its value.

Repairs flagged

• Major roof — The independent aerial image suggests a metal roof, but the condition is unknown from the listing photos.
• Minor exterior siding — The exterior appears to have some wear and tear.
• Minor landscaping — The yard could benefit from some landscaping improvements to enhance curb appeal.

Value-add opportunities

• Both landscaping — Enhanced landscaping can improve both the resale and rental value.
• Both exterior paint — Fresh paint can make the home more appealing and increase its value.
• Both roof repair — A new roof can significantly increase the home's value and reduce maintenance costs.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The independent aerial image suggests a metal roof, but the condition is unknown from the listing photos.	Major	$15,000–50,000
exterior siding · The exterior appears to have some wear and tear.	Minor	$500–3,000
landscaping · The yard could benefit from some landscaping improvements to enhance curb appeal.	Minor	$500–3,000
Total estimated repair cost · 3 items		$16,000–56,000

Value-add ROI direction

• Both landscaping — Enhanced landscaping can improve both the resale and rental value. ↑
• Both exterior paint — Fresh paint can make the home more appealing and increase its value. ↑
• Both roof repair — A new roof can significantly increase the home's value and reduce maintenance costs. ↑

ⓘ 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: Fennville Public Schools
• NCES district ID: 2614230
• Math proficiency: 18% ▼ -9.00%
• Reading proficiency: 32% ▼ -2.00%
• Median HH income: $46,241
• Composite: 21.64/100
• National rank: #8285
• State rank: #422 of 540 in MI

Livability — Manlius

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

Census & demographics

• Population (ZIP): 10,494

Population outlook (Allegan County) Hauer SSP2

• Today (2025): 120,251 people
• By 2030: 122,204 · +1.6%
• By 2040: 123,979 · +3.1%
• By 2050: 122,340 · +1.7%
• By 2075: 116,088 · -3.5%
• By 2100: 98,461 · -18.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 24% Two or more races 15%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Iranian 11% Romanian 4% Italian 4%
• Foreign-born: 6% · Canada
• Languages at home: 83% English-only · Spanish 16%

Political lean MEDSL · Allegan

• 2024 margin: Strong R (+27.2) · D 35.7% · R 62.9% · Other 1.5%
• 2008→2024 swing: -16.5pp toward R · 2008: -10.7pp · 2024: -27.2pp
• All cycles: 2024: R+27.2 2020: R+25.2 2016: R+28.8 2012: R+19.2 2008: R+10.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -184.56%
• Current HPI: 272.8431
• 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

• 2026-05-26 Listed $79,000 FSBO.com