333 E Lakewood Blvd Lot 258

Holland, MI 49424

$64,900B-

3 bd · 1.0 ba · 896 sqft · Built 1993 · Manufactured · Active · 70 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,847/mo
• Mortgage (P&I): −$340
• Tax + insurance: −$108
• HOA: −$0
• Vac / Maint / Mgmt: −$388
• Net cashflow: $1,011/mo
• Annual: $12,132/yr
• Cap rate: 24.99%
• Cash-on-cash: 66.76%
• DSCR: 3.97
• 1% rule: 2.85%
• Cash to close: $18,172

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $65k. Condition is rated good.
• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• It's been on market 70 days — a 6% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $61k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 82/100 on livability (#46 in MI, #1,066 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, amenities F.
• West Ottawa Public School District (suburban): math 37% / reading 52% proficiency, ranked #140 of 540 in MI (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.1%/yr); 343 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,237 units permitted in Ottawa County in 2024 (443 in 5+ unit buildings).
• Ottawa County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 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.
• At projected returns (-3.0% appreciation + 5.1% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 25.0% vs local median 2.5% in Holland — 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.

Questions for listing agent

• It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: exterior siding — slight discoloration
• Minor: interior paint — slight discoloration