11410 N Lake Dr · Lake Fenton, MI 48430

$24,900

3 bd · 2.0 ba · 1,848 sqft · SingleFamily · 6 Days on market

Built 1900 $850/mo HOA · 47% of rent

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor Opportunity in Lake Fenton Estates! Don't miss this exceptional investment property in desirable Lake Fenton Estates! This spacious 3-bedroom, 2-bathroom manufactured home offers 1,848 sq. ft. of well-planned living space, perfect for resale or rental income. The open layout creates a bright and welcoming feel, with generous living areas and room for everyone to spread out. Featuring a functional floor plan with a comfortable master suite, ample closet space, and plenty of storage throughout, this home delivers both comfort and value. Located in a serene neighborhood just minutes from local amenities, schools, and recreational opportunities. Take advantage of this opportunity to secure a strong value at an attractive price. Property is being sold as-is, where-is.

Key facts

• Open layout
• Built 1900
• Listed 6 days

Tags

• SPACIOUS MANUFACTURED HOME
• WELL-PLANNED LIVING SPACE
• OPEN LAYOUT
• GENEROUS LIVING AREAS
• FUNCTIONAL FLOOR PLAN
• COMFORTABLE MASTER SUITE

Property features AI

Finance

• Other: Located south of Thompson Road (cross street/directions)
• HOA & community: Homeowners association with a monthly fee of $850

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level; Ground-level entry with steps
• Construction: Vinyl siding; Asphalt roof; Slab foundation; Built as residential single-family home
• Exterior features: Front porch; Paved road access; 10 x 10 acre lot

Interior

• Kitchen: Dishwasher; Free-standing electric range; Free-standing refrigerator; Free-standing freezer; Gas water heater
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Ceiling fans; No central air
• Interior features: Gas fireplace in the living room; 8 total rooms
• Laundry & utility: Dedicated laundry room; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $421 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $25k).
• Cap rate 26.6% vs local median 2.3% in Lake Fenton — 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 74/100 on livability (#183 in MI, #4,770 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Lake Fenton Community Schools (rural): math 40% / reading 52% proficiency, ranked #124 of 540 in MI (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lake Fenton Middle School (math 38% / reading 54%, grade D+, #155 of 493 statewide, top 32%, 452 students, 35% FRL); Lake Fenton High School (math 37% / reading 57%, grade D-, #187 of 713 statewide, top 29%, 695 students, 30% FRL).
• Market conditions: Rents rising (+2.6%/yr); 315 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 419 units permitted in Genesee County in 2024 (68 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $172 of loan paydown is wiped out by about $747 of value loss. Plan a longer hold.
• Genesee County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 2.6% rent growth), your $7k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 47% of rent; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $24,900

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 7.33% ✓
• Cap rate: 26.57%
• Cash-on-cash: 72.41%
• DSCR: 4.22
• GRM: 1.1

CMA / ARV

• ARV (on-the-fly): $295,680
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11410 N Lake Dr	0.00mi	3/2.0	1,848 (0%)	0mo	$7,500	$4	100
2461 N Long Lake Rd	0.27mi	3/2.0	1,634 (-12%)	1mo	$320,000	$196	68
11106 Main Rd	0.54mi	4/1.0 (+1)	1,808 (-2%)	2mo	$250,000	$138	60
11423 Main Rd	0.27mi	3/2.0	1,955 (+6%)	21mo	$248,000	$127	60
2479 N Long Lake Rd	0.29mi	4/2.0 (+1)	1,632 (-12%)	6mo	$260,000	$159	56
2029 N Long Lake Rd	0.67mi	4/2.0 (+1)	1,905 (+3%)	9mo	$335,000	$176	51
11272 Main Rd	0.38mi	4/2.5 (+1)	1,648 (-11%)	13mo	$315,000	$191	47
12177 Dalhart Dr	0.68mi	2/1.5 (-1)	1,816 (-2%)	14mo	$290,000	$160	46
2310 Sonora Dr	0.48mi	3/2.5	2,044 (+11%)	18mo	$850,000	$416	43

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 · 2.59% rent growth · sell at horizon

5-year hold

• IRR: 71.8%
• Equity multiple: 4.24×
• Total profit: $22,558
• Equity at exit: $3,713

10-year hold

• IRR: 75.6%
• Equity multiple: 8.65×
• Total profit: $53,325
• Equity at exit: $2,153

Cash invested: $6,972 (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 48430

• Rents YoY: 2.6%
• Active inventory: 315
• Price-to-rent: 1.1×

Monthly cashflow live

• Estimated rent: $1,826 medium
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $374/yr
• Insurance: −$10
• HOA: −$850
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $421

Break-even live

Break-even rent $1,294

Max offer price $24,900

Occupancy floor 72%

Sensitivity live

Price	-10% $438	-5% $429	+0% $421	+5% $412	+10% $403
Rent	-10% $276	-5% $349	+0% $421	+5% $493	+10% $565
Rate	-1.0pp $433	-0.5pp $427	base $421	+0.5pp $414	+1.0pp $408

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: $6,225
• Closing costs: $747
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11431 N Lake Dr Unit 94 Fenton, MI	4.0	2.0	1456	$1,699	$1.17	45d	1	0.01mi

HOA detail

• Monthly dues: $850 · $10,200/yr

Listing history 6 events

1. 2026-06-02
   status $24,900 Pending 6 DOM
2. 2026-06-01
   days on market $24,900 Active 6 DOM
3. 2026-05-31
   days on market $24,900 Active 5 DOM
4. 2026-05-30
   days on market $24,900 Active 4 DOM
5. 2026-05-26
   listed $24,900 Active

   Show marketing remark (782 chars)

   Investor Opportunity in Lake Fenton Estates! Don't miss this exceptional investment property in desirable Lake Fenton Estates! This spacious 3-bedroom, 2-bathroom manufactured home offers 1,848 sq. ft. of well-planned living space, perfect for resale or rental income. The open layout creates a bright and welcoming feel, with generous living areas and room for everyone to spread out. Featuring a functional floor plan with a comfortable master suite, ample closet space, and plenty of storage throughout, this home delivers both comfort and value. Located in a serene neighborhood just minutes from local amenities, schools, and recreational opportunities. Take advantage of this opportunity to secure a strong value at an attractive price. Property is being sold as-is, where-is.

6. 2026-05-26
   listed $24,900 Active 782-char remark

   Show marketing remark (782 chars)

   Investor Opportunity in Lake Fenton Estates! Don't miss this exceptional investment property in desirable Lake Fenton Estates! This spacious 3-bedroom, 2-bathroom manufactured home offers 1,848 sq. ft. of well-planned living space, perfect for resale or rental income. The open layout creates a bright and welcoming feel, with generous living areas and room for everyone to spread out. Featuring a functional floor plan with a comfortable master suite, ample closet space, and plenty of storage throughout, this home delivers both comfort and value. Located in a serene neighborhood just minutes from local amenities, schools, and recreational opportunities. Take advantage of this opportunity to secure a strong value at an attractive price. Property is being sold as-is, where-is.

ⓘ 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: $21,915
• − Mortgage interest: −$1,395
• − Property taxes: −$374
• − Insurance: −$124
• − Repairs & maintenance: −$1,753
• − Management: −$1,753
• − HOA: −$10,200
• − Depreciation: −$724
• Taxable income: $5,592
• Est. tax owed @ 24.0%: −$1,342
• After-tax cash flow: $3,706/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: Lake Fenton Community Schools
• NCES district ID: 2620670
• Math proficiency: 40% ▼ -8.00%
• Reading proficiency: 52% ▼ -8.00%
• Median HH income: $65,788
• Composite: 40.93/100
• National rank: #3609
• State rank: #124 of 540 in MI

Livability — Lake Fenton

• Score: 74/100
• State rank: #183
• US rank: #4770

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Fenton, MI
• County: Livingston County · 121,626 people
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 39,309
• Household income: $100,193
• Rent vs Own: 18.6% rent · 81.4% own
• Severe rent burden: 642.0

Population outlook (Genesee County) Hauer SSP2

• Today (2025): 381,312 people
• By 2030: 362,731 · -4.9%
• By 2040: 321,550 · -15.7%
• By 2050: 279,212 · -26.8%
• By 2075: 193,336 · -49.3%
• By 2100: 128,118 · -66.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 3% Asian 1% Black 1%
• Common ancestry: Romanian 10% Lithuanian 5% Slovak 3%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Genesee

• 2024 margin: Toss-up / Even · D 51.4% · R 47.2% · Other 1.4%
• 2008→2024 swing: -28.3pp toward R · 2008: 32.5pp · 2024: 4.2pp
• All cycles: 2024: D+4.2 2020: D+9.3 2016: D+9.5 2012: D+28.2 2008: D+32.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -298.66%
• Current HPI: 238.8371
• Rent YoY: ▲ 2.59%
• Metro: Detroit-Warren-Dearborn, 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

2 events — show timeline

• 2026-05-26 Listed $24,900 REALCOMP
• 2026-05-26 Listed $24,900 MiRealSource-MiMLS