411 S Grover Ave Lot 19 · Alma, MI 48801

$45,800

3 bd · 2.0 ba · 1,200 sqft · Other · 34 Days on market

Built 2017 $38/sqft · 60% below area $530/mo HOA · 59% of rent ↓ 34% since listing

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Why this score? — see what drove the F 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).

• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +3.5/30.0
• Livability +3.5/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully Remodeled 3 Bedroom, 2 Full Bath Home Located In Meadows Mobile Home Park - Lot 19 In Alma, MI. This Home Features Central Air, A Large Family Room, And An Open Floor Plan That Flows Into A Spacious Kitchen With Abundant Cupboard Space And Double Storage Bar. The Primary Suite Offers A Large Walk-In Closet And Private En Suite Bathroom With Additional Closet Space. Separate Laundry Room Conveniently Located Off The Kitchen. Complete Remodel Includes All New Flooring, New Quarter Round, Freshly Repainted Ceilings, Walls And Cupboards, New Shower Heads, New Wax Rings On Both Toilets, Refrigerator (1 Year Old), Two Interior Doors Replaced, And Updated Light Switches Throughout. Wooded Back Lot Provides Added Privacy And Includes Storage Shed. Lot Rent Is $530 Per Month And Includes Water, Trash Removal And Basic Cable. Buyer Must Be Approved By Park For Lot Lease. Manufactured Home Realtors License #1103630

Key facts

• Open floor plan
• Large family room
• Walk-in closet

Tags

• CENTRAL AIR
• LARGE FAMILY ROOM
• OPEN FLOOR PLAN
• SPACIOUS KITCHEN
• ABUNDANT CUPBOARD SPACE
• WALK-IN CLOSET

Property features AI

Finance

• HOA & community: Monthly association fee of $530; Association covers water, trash, and cable/satellite

Exterior

• Utilities: Public water; High-speed internet available
• Home design: Ranch-style; Other architectural elements; Single-story; Residential property
• Construction: Built in 2017; Vinyl siding; Shingle roof; Crawl space basement
• Exterior features: Leased land; Playground (community amenity)

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Has cooling
• Interior features: Eat-in kitchen; Pantry; Insulated windows; 5 total rooms
• Laundry & utility: Natural gas water heater

🏷️ Possibly a rental listed for sale. The $45,800 price doesn't fit this home's estimated sale value (~$115,000) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $46k.

Deal economics

• At list price, monthly cash flow is $-137 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $26k (43.4% below list).
• Meets the 1% rule at list price ($898 rent vs $46k).
• Recommended offer: $26k (43.4% below list) — sets the bar for cash-flow.
• Cap rate 2.7% vs local median 4.2% in Alma — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 69/100 on livability (#345 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, amenities F, commute F.
• Alma Public Schools (town): math 28% / reading 44% proficiency, ranked #288 of 540 in MI (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Luce Road Elementary School (304 students, 72% FRL); Donald L Pavlik Middle School (math 27% / reading 45%, grade F, #269 of 493 statewide, top 56%, 449 students, 69% FRL); Alma Senior High School (math 27% / reading 62%, grade F, #214 of 713 statewide, top 36%, 558 students, 59% FRL) — zoned schools average 66% FRL vs 49% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 89 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 47 units permitted in Gratiot County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $317 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Gratiot County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 5 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.

Risks & watch-outs

• Watch-outs: HOA is 59% of rent.

Recommended offer $25,920 (43.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 43% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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?
7. 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.
8. 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.
9. 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: 1.96% ✓
• Cap rate: 2.69%
• Cash-on-cash: -12.86%
• DSCR: 0.43
• GRM: 4.3

CMA / ARV

• ARV (median comp): $115,000
• List price: $45,800
• Delta: -56.61%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -38.7%
• Equity multiple: -0.23×
• Total profit: $-15,832
• Equity at exit: $6,829

10-year hold

• IRR: -50.1%
• Equity multiple: -0.85×
• Total profit: $-23,676
• Equity at exit: $3,960

Cash invested: $12,824 (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 48801

• Home prices YoY: -32.0%
• Active inventory: 89
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $898 medium
• Mortgage (P&I): −$240
• Tax est. 1.5%: −$57 /mo · $687/yr
• Insurance: −$19
• HOA: −$530
• Vacancy / Maint / Mgmt: −$189
• Net cashflow: $-137

Break-even live

Break-even rent $1,072

Max offer price $25,920

Occupancy floor —

Sensitivity live

Price	-10% $-106	-5% $-122	+0% $-137	+5% $-153	+10% $-169
Rent	-10% $-208	-5% $-173	+0% $-137	+5% $-102	+10% $-66
Rate	-1.0pp $-114	-0.5pp $-126	base $-137	+0.5pp $-149	+1.0pp $-161

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: $11,450
• Closing costs: $1,374
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
240 Windsor St Alma, MI	1.0–2.0	1.0	675	$875	$1.30	45d	1	0.48mi
307 W Elizabeth St Unit 307 Alma, MI	2.0	1.0	750	$950	$1.27	45d	1	1.25mi

HOA detail

• Monthly dues: $530 · $6,360/yr
• Likely covers: watertrashcable

Listing history 46 events

1. 2026-06-22
   days on market $45,800 Active 34 DOM
2. 2026-06-21
   days on market $45,800 Active 33 DOM
3. 2026-06-21
   days on market $45,800 Active 32 DOM
4. 2026-06-18
   days on market $45,800 Active 30 DOM
5. 2026-06-17
   days on market $45,800 Active 29 DOM
6. 2026-06-16
   days on market $45,800 Active 28 DOM
7. 2026-06-15
   days on market $45,800 Active 27 DOM
8. 2026-06-13
   days on market $45,800 Active 25 DOM
9. 2026-06-12
   pricedays on market $45,800 Active 24 DOM
10. 2026-06-09
    days on market $45,900 Active 21 DOM
11. 2026-06-08
    days on market $45,900 Active 20 DOM
12. 2026-06-07
    days on market $45,900 Active 19 DOM
13. 2026-06-07
    days on market $45,900 Active 18 DOM
14. 2026-06-04
    days on market $45,900 Active 15 DOM
15. 2026-06-02
    pricedays on market $45,900 Active 14 DOM

    Show marketing remark (929 chars)

    Beautifully Remodeled 3 Bedroom, 2 Full Bath Home Located In Meadows Mobile Home Park - Lot 19 In Alma, MI. This Home Features Central Air, A Large Family Room, And An Open Floor Plan That Flows Into A Spacious Kitchen With Abundant Cupboard Space And Double Storage Bar. The Primary Suite Offers A Large Walk-In Closet And Private En Suite Bathroom With Additional Closet Space. Separate Laundry Room Conveniently Located Off The Kitchen. Complete Remodel Includes All New Flooring, New Quarter Round, Freshly Repainted Ceilings, Walls And Cupboards, New Shower Heads, New Wax Rings On Both Toilets, Refrigerator (1 Year Old), Two Interior Doors Replaced, And Updated Light Switches Throughout. Wooded Back Lot Provides Added Privacy And Includes Storage Shed. Lot Rent Is $530 Per Month And Includes Water, Trash Removal And Basic Cable. Buyer Must Be Approved By Park For Lot Lease. Manufactured Home Realtors License #1103630

16. 2026-06-01
    days on market $47,900 Active 13 DOM

    Show marketing remark (929 chars)

    Beautifully Remodeled 3 Bedroom, 2 Full Bath Home Located In Meadows Mobile Home Park - Lot 19 In Alma, MI. This Home Features Central Air, A Large Family Room, And An Open Floor Plan That Flows Into A Spacious Kitchen With Abundant Cupboard Space And Double Storage Bar. The Primary Suite Offers A Large Walk-In Closet And Private En Suite Bathroom With Additional Closet Space. Separate Laundry Room Conveniently Located Off The Kitchen. Complete Remodel Includes All New Flooring, New Quarter Round, Freshly Repainted Ceilings, Walls And Cupboards, New Shower Heads, New Wax Rings On Both Toilets, Refrigerator (1 Year Old), Two Interior Doors Replaced, And Updated Light Switches Throughout. Wooded Back Lot Provides Added Privacy And Includes Storage Shed. Lot Rent Is $530 Per Month And Includes Water, Trash Removal And Basic Cable. Buyer Must Be Approved By Park For Lot Lease. Manufactured Home Realtors License #1103630

17. 2026-05-31
    days on market $47,900 Active 12 DOM
18. 2026-05-31
    days on market $47,900 Active 11 DOM
19. 2026-05-19
    listed $49,900 Active 929-char remark

    Show marketing remark (929 chars)

    Beautifully Remodeled 3 Bedroom, 2 Full Bath Home Located In Meadows Mobile Home Park - Lot 19 In Alma, MI. This Home Features Central Air, A Large Family Room, And An Open Floor Plan That Flows Into A Spacious Kitchen With Abundant Cupboard Space And Double Storage Bar. The Primary Suite Offers A Large Walk-In Closet And Private En Suite Bathroom With Additional Closet Space. Separate Laundry Room Conveniently Located Off The Kitchen. Complete Remodel Includes All New Flooring, New Quarter Round, Freshly Repainted Ceilings, Walls And Cupboards, New Shower Heads, New Wax Rings On Both Toilets, Refrigerator (1 Year Old), Two Interior Doors Replaced, And Updated Light Switches Throughout. Wooded Back Lot Provides Added Privacy And Includes Storage Shed. Lot Rent Is $530 Per Month And Includes Water, Trash Removal And Basic Cable. Buyer Must Be Approved By Park For Lot Lease. Manufactured Home Realtors License #1103630

20. 2026-05-19
    listed $49,900 Active 929-char remark

    Show marketing remark (929 chars)

    Beautifully Remodeled 3 Bedroom, 2 Full Bath Home Located In Meadows Mobile Home Park - Lot 19 In Alma, MI. This Home Features Central Air, A Large Family Room, And An Open Floor Plan That Flows Into A Spacious Kitchen With Abundant Cupboard Space And Double Storage Bar. The Primary Suite Offers A Large Walk-In Closet And Private En Suite Bathroom With Additional Closet Space. Separate Laundry Room Conveniently Located Off The Kitchen. Complete Remodel Includes All New Flooring, New Quarter Round, Freshly Repainted Ceilings, Walls And Cupboards, New Shower Heads, New Wax Rings On Both Toilets, Refrigerator (1 Year Old), Two Interior Doors Replaced, And Updated Light Switches Throughout. Wooded Back Lot Provides Added Privacy And Includes Storage Shed. Lot Rent Is $530 Per Month And Includes Water, Trash Removal And Basic Cable. Buyer Must Be Approved By Park For Lot Lease. Manufactured Home Realtors License #1103630

21. 2026-05-19
    listed $49,900 Active

    Show marketing remark (929 chars)

    Beautifully Remodeled 3 Bedroom, 2 Full Bath Home Located In Meadows Mobile Home Park - Lot 19 In Alma, MI. This Home Features Central Air, A Large Family Room, And An Open Floor Plan That Flows Into A Spacious Kitchen With Abundant Cupboard Space And Double Storage Bar. The Primary Suite Offers A Large Walk-In Closet And Private En Suite Bathroom With Additional Closet Space. Separate Laundry Room Conveniently Located Off The Kitchen. Complete Remodel Includes All New Flooring, New Quarter Round, Freshly Repainted Ceilings, Walls And Cupboards, New Shower Heads, New Wax Rings On Both Toilets, Refrigerator (1 Year Old), Two Interior Doors Replaced, And Updated Light Switches Throughout. Wooded Back Lot Provides Added Privacy And Includes Storage Shed. Lot Rent Is $530 Per Month And Includes Water, Trash Removal And Basic Cable. Buyer Must Be Approved By Park For Lot Lease. Manufactured Home Realtors License #1103630

22. 2026-05-18
    historical
23. 2026-05-17
    historical
24. 2026-05-12
    price $49,900
25. 2026-05-11
    price $65,500
26. 2026-05-11
    price $49,900
27. 2026-05-11
    price $49,900
28. 2026-05-11
    price $65,500
29. 2026-05-11
    price $65,500
30. 2026-05-02
    price $49,900
31. 2026-05-02
    price $49,900
32. 2026-05-02
    price $49,900
33. 2026-04-27
    price $65,000
34. 2026-04-27
    price $65,000
35. 2026-04-27
    price $65,000
36. 2026-04-13
    price $65,500
37. 2026-04-12
    price $65,500
38. 2026-04-12
    price $65,500
39. 2026-04-03
    price $67,500
40. 2026-04-02
    price $67,500
41. 2026-04-02
    price $67,500
42. 2026-03-21
    price $67,900
43. 2026-03-21
    price $67,900
44. 2026-03-21
    price $67,900
45. 2026-02-17
    listed $69,900 Active
46. 2026-02-17
    listed $69,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 6 d/yr ≥98°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,772
• − Mortgage interest: −$2,566
• − Property taxes: −$687
• − Insurance: −$229
• − Repairs & maintenance: −$862
• − Management: −$862
• − HOA: −$6,360
• − Depreciation: −$1,332
• Taxable loss: −$2,126
• Est. tax savings @ 24.0%: +$510
• After-tax cash flow: $-1,138/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: Alma Public Schools
• NCES district ID: 2602640
• Math proficiency: 28% ▼ -9.00%
• Reading proficiency: 44% ▼ -3.00%
• Median HH income: $36,651
• Composite: 29.84/100
• National rank: #6415
• State rank: #288 of 540 in MI

Livability — Alma

• Score: 69/100
• State rank: #345
• US rank: #8809

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alma, MI
• City population: 13,433
• Population (ZIP): 13,433

Population outlook (Gratiot County) Hauer SSP2

• Today (2025): 39,991 people
• By 2030: 38,944 · -2.6%
• By 2040: 36,694 · -8.2%
• By 2050: 34,314 · -14.2%
• By 2075: 27,693 · -30.8%
• By 2100: 20,809 · -48.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 10% Two or more races 4% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 5% Slovak 3% Iranian 2%
• Foreign-born: 2% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 4% French/Haitian/Cajun 1%

Political lean MEDSL · Gratiot

• 2024 margin: Solid R (+31.3) · D 33.7% · R 65.0% · Other 1.4%
• 2008→2024 swing: -35.7pp toward R · 2008: 4.4pp · 2024: -31.3pp
• All cycles: 2024: R+31.3 2020: R+28.3 2016: R+25.6 2012: R+3.9 2008: D+4.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -99.16%
• Current HPI: 210.3208
• 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

-34.5% since first listed

37 events — show timeline

• 2026-06-11 Price Changed $45,800 MiRealSource-MiMLS
• 2026-06-11 Price Changed $45,800 REALCOMP
• 2026-06-11 Price Changed $45,800 SW Michigan MLS
• 2026-06-02 Price Changed $45,900 MiRealSource-MiMLS
• 2026-06-01 Price Changed $45,900 REALCOMP
• 2026-06-01 Price Changed $45,900 SW Michigan MLS
• 2026-05-23 Price Changed $47,900 MiRealSource-MiMLS
• 2026-05-22 Price Changed $47,900 REALCOMP
• 2026-05-22 Price Changed $47,900 SW Michigan MLS
• 2026-05-19 Listed $49,900 SW Michigan MLS
• 2026-05-19 Listed $49,900 REALCOMP
• 2026-05-19 Listed $49,900 MiRealSource-MiMLS
• 2026-05-18 Listing Removed — MiRealSource-MiMLS
• 2026-05-17 Listing Removed — REALCOMP
• 2026-05-12 Price Changed $49,900 MiRealSource-MiMLS
• 2026-05-11 Price Changed $65,500 MiRealSource-MiMLS
• 2026-05-11 Price Changed $49,900 REALCOMP
• 2026-05-11 Price Changed $49,900 SW Michigan MLS
• 2026-05-11 Price Changed $65,500 REALCOMP
• 2026-05-11 Price Changed $65,500 SW Michigan MLS
• 2026-05-02 Price Changed $49,900 MiRealSource-MiMLS
• 2026-05-02 Price Changed $49,900 REALCOMP
• 2026-05-02 Price Changed $49,900 SW Michigan MLS
• 2026-04-27 Price Changed $65,000 MiRealSource-MiMLS
• 2026-04-27 Price Changed $65,000 REALCOMP
• 2026-04-27 Price Changed $65,000 SW Michigan MLS
• 2026-04-13 Price Changed $65,500 MiRealSource-MiMLS
• 2026-04-12 Price Changed $65,500 REALCOMP
• 2026-04-12 Price Changed $65,500 SW Michigan MLS
• 2026-04-03 Price Changed $67,500 MiRealSource-MiMLS
• 2026-04-02 Price Changed $67,500 REALCOMP
• 2026-04-02 Price Changed $67,500 SW Michigan MLS
• 2026-03-21 Price Changed $67,900 MiRealSource-MiMLS
• 2026-03-21 Price Changed $67,900 REALCOMP
• 2026-03-21 Price Changed $67,900 SW Michigan MLS
• 2026-02-17 Listed $69,900 REALCOMP
• 2026-02-17 Listed $69,900 MiRealSource-MiMLS