2819 N Sandy Dr #558 · Hamlin, MI 49431

$48,000

2 bd · 1.0 ba · 784 sqft · Manufactured · 73 Days on market

Built 1984 Good condition $61/sqft · at area comps Est $49k · at est. ↓ 4% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +8.4/15.0
• Condition / age +3.8/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Consider a neat and tidy mobile home for year around living or a four-seasons landing place in the Heart of Hamlin! Just minutes from the park's boat launch and marina, Ludington State Park, Stearns Beach and Downtown Ludington! This 2 bedroom/1 bath home has been refurbished and is ready to serve your needs into the future. The covered patio area provides a place to gather or putter and the sunny West side of the lot is perfect for relaxing and soaking up those Ludington sunsets. Call for details and information on purchasing a titled mobile home!

Key facts

• Built 1984
• Listed 73 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $48k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $339 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($850 rent vs $48k).
• Recommended offer: $45k (6.0% 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.
• Ludington Area School District (town): math 37% / reading 50% proficiency, ranked #172 of 540 in MI (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 172 active listings in the ZIP; 177 units permitted in Mason County in 2024 (97 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $332 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Mason County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($45k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $4k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $45,120 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.77% ✓
• Cap rate: 14.78%
• Cash-on-cash: 30.31%
• DSCR: 2.35
• GRM: 4.7

CMA / ARV

• ARV (median comp): $49,000
• List price: $48,000
• Delta: 1.84%
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 25.0%
• Equity multiple: 2.03×
• Total profit: $13,856
• Equity at exit: $7,157

10-year hold

• IRR: 32.7%
• Equity multiple: 3.97×
• Total profit: $39,958
• Equity at exit: $4,150

Cash invested: $13,440 (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 49431

• Active inventory: 172
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $850 medium
• Mortgage (P&I): −$252
• Tax est. 1.5%: −$60 /mo · $720/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$178
• Net cashflow: $339

Break-even live

Break-even rent $420

Max offer price $48,000

Occupancy floor 55%

Sensitivity live

Price	-10% $373	-5% $356	+0% $339	+5% $323	+10% $306
Rent	-10% $272	-5% $306	+0% $339	+5% $373	+10% $407
Rate	-1.0pp $364	-0.5pp $352	base $339	+0.5pp $327	+1.0pp $314

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: $12,000
• Closing costs: $1,440
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   pricedays on market $48,000 Active 73 DOM
2. 2026-06-18
   days on market $49,900 Active 71 DOM
3. 2026-06-17
   days on market $49,900 Active 70 DOM
4. 2026-06-16
   days on market $49,900 Active 69 DOM
5. 2026-06-15
   days on market $49,900 Active 68 DOM
6. 2026-06-13
   days on market $49,900 Active 66 DOM
7. 2026-06-12
   days on market $49,900 Active 65 DOM
8. 2026-06-09
   days on market $49,900 Active 62 DOM
9. 2026-06-08
   days on market $49,900 Active 61 DOM
10. 2026-06-07
    days on market $49,900 Active 60 DOM
11. 2026-06-07
    days on market $49,900 Active 59 DOM
12. 2026-06-04
    days on market $49,900 Active 56 DOM
13. 2026-06-02
    days on market $49,900 Active 55 DOM
14. 2026-06-01
    days on market $49,900 Active 54 DOM
15. 2026-05-31
    days on market $49,900 Active 53 DOM
16. 2026-05-31
    days on market $49,900 Active 52 DOM
17. 2026-05-20
    price $49,900 554-char remark

    Show marketing remark (554 chars)

    Consider a neat and tidy mobile home for year around living or a four-seasons landing place in the Heart of Hamlin! Just minutes from the park's boat launch and marina, Ludington State Park, Stearns Beach and Downtown Ludington! This 2 bedroom/1 bath home has been refurbished and is ready to serve your needs into the future. The covered patio area provides a place to gather or putter and the sunny West side of the lot is perfect for relaxing and soaking up those Ludington sunsets. Call for details and information on purchasing a titled mobile home!

18. 2026-05-19
    price $49,900 554-char remark

    Show marketing remark (554 chars)

    Consider a neat and tidy mobile home for year around living or a four-seasons landing place in the Heart of Hamlin! Just minutes from the park's boat launch and marina, Ludington State Park, Stearns Beach and Downtown Ludington! This 2 bedroom/1 bath home has been refurbished and is ready to serve your needs into the future. The covered patio area provides a place to gather or putter and the sunny West side of the lot is perfect for relaxing and soaking up those Ludington sunsets. Call for details and information on purchasing a titled mobile home!

19. 2026-05-19
    price $49,900

    Show marketing remark (554 chars)

    Consider a neat and tidy mobile home for year around living or a four-seasons landing place in the Heart of Hamlin! Just minutes from the park's boat launch and marina, Ludington State Park, Stearns Beach and Downtown Ludington! This 2 bedroom/1 bath home has been refurbished and is ready to serve your needs into the future. The covered patio area provides a place to gather or putter and the sunny West side of the lot is perfect for relaxing and soaking up those Ludington sunsets. Call for details and information on purchasing a titled mobile home!

20. 2026-04-08
    listed $52,000 Active 554-char remark

    Show marketing remark (554 chars)

    Consider a neat and tidy mobile home for year around living or a four-seasons landing place in the Heart of Hamlin! Just minutes from the park's boat launch and marina, Ludington State Park, Stearns Beach and Downtown Ludington! This 2 bedroom/1 bath home has been refurbished and is ready to serve your needs into the future. The covered patio area provides a place to gather or putter and the sunny West side of the lot is perfect for relaxing and soaking up those Ludington sunsets. Call for details and information on purchasing a titled mobile home!

21. 2026-04-07
    listed $52,000 Active 554-char remark

    Show marketing remark (554 chars)

    Consider a neat and tidy mobile home for year around living or a four-seasons landing place in the Heart of Hamlin! Just minutes from the park's boat launch and marina, Ludington State Park, Stearns Beach and Downtown Ludington! This 2 bedroom/1 bath home has been refurbished and is ready to serve your needs into the future. The covered patio area provides a place to gather or putter and the sunny West side of the lot is perfect for relaxing and soaking up those Ludington sunsets. Call for details and information on purchasing a titled mobile home!

22. 2026-04-07
    listed $52,000 Active

    Show marketing remark (554 chars)

    Consider a neat and tidy mobile home for year around living or a four-seasons landing place in the Heart of Hamlin! Just minutes from the park's boat launch and marina, Ludington State Park, Stearns Beach and Downtown Ludington! This 2 bedroom/1 bath home has been refurbished and is ready to serve your needs into the future. The covered patio area provides a place to gather or putter and the sunny West side of the lot is perfect for relaxing and soaking up those Ludington sunsets. Call for details and information on purchasing a titled mobile home!

ⓘ 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: $10,195
• − Mortgage interest: −$2,689
• − Property taxes: −$720
• − Insurance: −$240
• − Repairs & maintenance: −$816
• − Management: −$816
• − Depreciation: −$1,396
• Taxable income: $3,519
• Est. tax owed @ 24.0%: −$845
• After-tax cash flow: $3,229/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 · 13 photos

Good 75/100 Cosmetic rehab

This mobile home is in good condition with cosmetic updates needed. Painting the exterior and replacing window seals would significantly increase its resale and rental value.

Value-add opportunities

• Resale Paint the exterior siding — Enhances curb appeal and value
• Rental Replace the window seals — Improves energy efficiency and reduces heating/cooling costs

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint the exterior siding — Enhances curb appeal and value ↑
• Rental Replace the window seals — Improves energy efficiency and reduces heating/cooling 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: Ludington Area School District
• NCES district ID: 2622200
• Math proficiency: 37% ▼ -5.00%
• Reading proficiency: 50% ▼ -2.00%
• Median HH income: $42,643
• Composite: 36.64/100
• National rank: #4616
• State rank: #172 of 540 in MI

Livability — Hamlin

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

Census & demographics

• Population (ZIP): 17,027

Population outlook (Mason County) Hauer SSP2

• Today (2025): 28,828 people
• By 2030: 28,407 · -1.5%
• By 2040: 27,183 · -5.7%
• By 2050: 26,171 · -9.2%
• By 2075: 24,057 · -16.5%
• By 2100: 20,240 · -29.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 4% Two or more races 4% Black 2%
• Common ancestry: Romanian 8% Iranian 5% Lithuanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Mason

• 2024 margin: Strong R (+21.4) · D 38.6% · R 60.0% · Other 1.4%
• 2008→2024 swing: -25.8pp toward R · 2008: 4.4pp · 2024: -21.4pp
• All cycles: 2024: R+21.4 2020: R+19.7 2016: R+22.0 2012: R+5.0 2008: D+4.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -167.86%
• Current HPI: 211.5064
• 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

-4.0% since first listed

6 events — show timeline

• 2026-05-20 Price Changed $49,900 MiRealSource-MiMLS
• 2026-05-19 Price Changed $49,900 REALCOMP
• 2026-05-19 Price Changed $49,900 SW Michigan MLS
• 2026-04-08 Listed $52,000 REALCOMP
• 2026-04-07 Listed $52,000 SW Michigan MLS
• 2026-04-07 Listed $52,000 MiRealSource-MiMLS