425 Elm Court Ct · Oakland, MI 48363

$49,999

3 bd · 2.0 ba · 1,056 sqft · Manufactured · 153 Days on market

Built 2024 Good condition 1.88 ac lot $47/sqft · 79% below area ↓ 14% since listing

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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 +4.2/10.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

One of the only newer 2024-built homes available at this price point in Oakland Township, 425 Elm Court offers an opportunity that is becoming increasingly difficult to find in today’s market. This move-in-ready 3-bedroom, 2-bath manufactured home features approximately 1,056 square feet of thoughtfully designed living space with a clean, modern feel throughout. The open-concept layout creates a bright and functional flow between the living room, kitchen, and dining areas, making the home feel comfortable for both everyday living and entertaining. Energy-efficient low-E vinyl windows, central air, modern finishes, and low-maintenance construction help provide both comfort and peace of mind for the next owner. The split-bedroom layout also offers flexibility for guests, hobbies, storage, or a home office setup. Located within the Independence Woods community in desirable Oakland Township and within the highly regarded Lake Orion School District, residents enjoy convenient access to shopping, dining, parks, recreation, and major commuter routes throughout northern Oakland County. Lot rent is approximately $673 per month; buyer to verify all information with the park. All residents must be approved by the community following an accepted offer or during the inspection period. Contact the community office for verification at Independence Woods, [phone]. Financing for homes located in parks does differ from traditional mortgage programs and typically requires specialized lenders; mobile-home-specific lenders are available to assist qualified buyers with the pre-approval process. If you’re looking for an affordable, practical place to call home with room to make it your own, this is an opportunity you won’t want to miss.

Key facts

• Modern cabinetry
• Community amenities
• Scenic views

Tags

• MOVE IN READY
• LOW MAINTENANCE LIVING
• ENERGY EFFICIENT WINDOWS
• MODERN CABINETRY
• COMMUNITY AMENITIES
• SCENIC VIEWS

🏷️ Possibly a rental listed for sale. The $49,999 price doesn't fit this home's estimated sale value (~$235,250) 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 manufactured listed at $50k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Romeo Community Schools (suburban): math 43% / reading 51% proficiency, ranked #102 of 540 in MI (top 19%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 74 active listings in the ZIP; 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Oakland County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 153 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $8k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $43,999 (12.0% below list)

Questions for the listing agent

1. It's been on market 153 days. Have you received any prior offers? Is the seller open to a 12% 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. 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: 4.86% ✓
• Cap rate: 44.08%
• Cash-on-cash: 134.95%
• DSCR: 7.00
• GRM: 1.7

CMA / ARV

• ARV (median comp): $235,250
• List price: $49,999
• Delta: -78.75%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 7.59×
• Total profit: $92,208
• Equity at exit: $7,455

10-year hold

• IRR: —
• Equity multiple: 15.97×
• Total profit: $209,561
• Equity at exit: $4,323

Cash invested: $14,000 (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 48363

• Home prices YoY: -34.4%
• Active inventory: 74
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $2,430 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$510
• Net cashflow: $1,574

Break-even live

Break-even rent $437

Max offer price $49,999

Occupancy floor 30%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $49,999 Active 153 DOM
2. 2026-06-17
   days on market $49,999 Active 152 DOM
3. 2026-06-16
   days on market $49,999 Active 151 DOM
4. 2026-06-15
   days on market $49,999 Active 150 DOM
5. 2026-06-13
   days on market $49,999 Active 148 DOM
6. 2026-06-09
   days on market $49,999 Active 144 DOM
7. 2026-06-08
   days on market $49,999 Active 143 DOM
8. 2026-06-07
   days on market $49,999 Active 142 DOM
9. 2026-06-04
   days on market $49,999 Active 139 DOM
10. 2026-06-03
    days on market $49,999 Active 138 DOM
11. 2026-06-02
    days on market $49,999 Active 137 DOM
12. 2026-06-01
    days on market $49,999 Active 136 DOM
13. 2026-05-31
    days on market $49,999 Active 135 DOM
14. 2026-04-26
    status Active 1768-char remark

    Show marketing remark (1768 chars)

    One of the only newer 2024-built homes available at this price point in Oakland Township, 425 Elm Court offers an opportunity that is becoming increasingly difficult to find in today’s market. This move-in-ready 3-bedroom, 2-bath manufactured home features approximately 1,056 square feet of thoughtfully designed living space with a clean, modern feel throughout. The open-concept layout creates a bright and functional flow between the living room, kitchen, and dining areas, making the home feel comfortable for both everyday living and entertaining. Energy-efficient low-E vinyl windows, central air, modern finishes, and low-maintenance construction help provide both comfort and peace of mind for the next owner. The split-bedroom layout also offers flexibility for guests, hobbies, storage, or a home office setup. Located within the Independence Woods community in desirable Oakland Township and within the highly regarded Lake Orion School District, residents enjoy convenient access to shopping, dining, parks, recreation, and major commuter routes throughout northern Oakland County. Lot rent is approximately $673 per month; buyer to verify all information with the park. All residents must be approved by the community following an accepted offer or during the inspection period. Contact the community office for verification at Independence Woods, [phone]. Financing for homes located in parks does differ from traditional mortgage programs and typically requires specialized lenders; mobile-home-specific lenders are available to assist qualified buyers with the pre-approval process. If you’re looking for an affordable, practical place to call home with room to make it your own, this is an opportunity you won’t want to miss.

15. 2026-04-26
    historical 1768-char remark

    Show marketing remark (1768 chars)

    One of the only newer 2024-built homes available at this price point in Oakland Township, 425 Elm Court offers an opportunity that is becoming increasingly difficult to find in today’s market. This move-in-ready 3-bedroom, 2-bath manufactured home features approximately 1,056 square feet of thoughtfully designed living space with a clean, modern feel throughout. The open-concept layout creates a bright and functional flow between the living room, kitchen, and dining areas, making the home feel comfortable for both everyday living and entertaining. Energy-efficient low-E vinyl windows, central air, modern finishes, and low-maintenance construction help provide both comfort and peace of mind for the next owner. The split-bedroom layout also offers flexibility for guests, hobbies, storage, or a home office setup. Located within the Independence Woods community in desirable Oakland Township and within the highly regarded Lake Orion School District, residents enjoy convenient access to shopping, dining, parks, recreation, and major commuter routes throughout northern Oakland County. Lot rent is approximately $673 per month; buyer to verify all information with the park. All residents must be approved by the community following an accepted offer or during the inspection period. Contact the community office for verification at Independence Woods, [phone]. Financing for homes located in parks does differ from traditional mortgage programs and typically requires specialized lenders; mobile-home-specific lenders are available to assist qualified buyers with the pre-approval process. If you’re looking for an affordable, practical place to call home with room to make it your own, this is an opportunity you won’t want to miss.

16. 2026-03-18
    price $49,999 1750-char remark

    Show marketing remark (1750 chars)

    One of the only newer 2024-built homes available at this price point in Oakland Township, 425 Elm Court offers an opportunity that is becoming increasingly difficult to find in today's market. This move-in-ready 3-bedroom, 2-bath manufactured home features approximately 1,056 square feet of thoughtfully designed living space with a clean, modern feel throughout. The open-concept layout creates a bright and functional flow between the living room, kitchen, and dining areas, making the home feel comfortable for both everyday living and entertaining. Energy-efficient low-E vinyl windows, central air, modern finishes, and low-maintenance construction help provide both comfort and peace of mind for the next owner. The split-bedroom layout also offers flexibility for guests, hobbies, storage, or a home office setup. Located within the Independence Woods community in desirable Oakland Township and within the highly regarded Lake Orion School District, residents enjoy convenient access to shopping, dining, parks, recreation, and major commuter routes throughout northern Oakland County. Lot rent is approximately $673 per month; buyer to verify all information with the park. All residents must be approved by the community following an accepted offer or during the inspection period. Contact the community office for verification at Independence Woods, [phone]. Financing for homes located in parks does differ from traditional mortgage programs and typically requires specialized lenders; mobile-home-specific lenders are available to assist qualified buyers with the pre-approval process. If you're looking for an affordable, practical place to call home with room to make it your own, this is an opportunity you won't want to miss.

17. 2026-03-17
    price $49,999 1768-char remark

    Show marketing remark (1768 chars)

    One of the only newer 2024-built homes available at this price point in Oakland Township, 425 Elm Court offers an opportunity that is becoming increasingly difficult to find in today’s market. This move-in-ready 3-bedroom, 2-bath manufactured home features approximately 1,056 square feet of thoughtfully designed living space with a clean, modern feel throughout. The open-concept layout creates a bright and functional flow between the living room, kitchen, and dining areas, making the home feel comfortable for both everyday living and entertaining. Energy-efficient low-E vinyl windows, central air, modern finishes, and low-maintenance construction help provide both comfort and peace of mind for the next owner. The split-bedroom layout also offers flexibility for guests, hobbies, storage, or a home office setup. Located within the Independence Woods community in desirable Oakland Township and within the highly regarded Lake Orion School District, residents enjoy convenient access to shopping, dining, parks, recreation, and major commuter routes throughout northern Oakland County. Lot rent is approximately $673 per month; buyer to verify all information with the park. All residents must be approved by the community following an accepted offer or during the inspection period. Contact the community office for verification at Independence Woods, [phone]. Financing for homes located in parks does differ from traditional mortgage programs and typically requires specialized lenders; mobile-home-specific lenders are available to assist qualified buyers with the pre-approval process. If you’re looking for an affordable, practical place to call home with room to make it your own, this is an opportunity you won’t want to miss.

18. 2026-02-12
    price $56,400 1750-char remark

    Show marketing remark (1750 chars)

    One of the only newer 2024-built homes available at this price point in Oakland Township, 425 Elm Court offers an opportunity that is becoming increasingly difficult to find in today's market. This move-in-ready 3-bedroom, 2-bath manufactured home features approximately 1,056 square feet of thoughtfully designed living space with a clean, modern feel throughout. The open-concept layout creates a bright and functional flow between the living room, kitchen, and dining areas, making the home feel comfortable for both everyday living and entertaining. Energy-efficient low-E vinyl windows, central air, modern finishes, and low-maintenance construction help provide both comfort and peace of mind for the next owner. The split-bedroom layout also offers flexibility for guests, hobbies, storage, or a home office setup. Located within the Independence Woods community in desirable Oakland Township and within the highly regarded Lake Orion School District, residents enjoy convenient access to shopping, dining, parks, recreation, and major commuter routes throughout northern Oakland County. Lot rent is approximately $673 per month; buyer to verify all information with the park. All residents must be approved by the community following an accepted offer or during the inspection period. Contact the community office for verification at Independence Woods, [phone]. Financing for homes located in parks does differ from traditional mortgage programs and typically requires specialized lenders; mobile-home-specific lenders are available to assist qualified buyers with the pre-approval process. If you're looking for an affordable, practical place to call home with room to make it your own, this is an opportunity you won't want to miss.

19. 2026-02-11
    price $56,400 1768-char remark

    Show marketing remark (1768 chars)

    One of the only newer 2024-built homes available at this price point in Oakland Township, 425 Elm Court offers an opportunity that is becoming increasingly difficult to find in today’s market. This move-in-ready 3-bedroom, 2-bath manufactured home features approximately 1,056 square feet of thoughtfully designed living space with a clean, modern feel throughout. The open-concept layout creates a bright and functional flow between the living room, kitchen, and dining areas, making the home feel comfortable for both everyday living and entertaining. Energy-efficient low-E vinyl windows, central air, modern finishes, and low-maintenance construction help provide both comfort and peace of mind for the next owner. The split-bedroom layout also offers flexibility for guests, hobbies, storage, or a home office setup. Located within the Independence Woods community in desirable Oakland Township and within the highly regarded Lake Orion School District, residents enjoy convenient access to shopping, dining, parks, recreation, and major commuter routes throughout northern Oakland County. Lot rent is approximately $673 per month; buyer to verify all information with the park. All residents must be approved by the community following an accepted offer or during the inspection period. Contact the community office for verification at Independence Woods, [phone]. Financing for homes located in parks does differ from traditional mortgage programs and typically requires specialized lenders; mobile-home-specific lenders are available to assist qualified buyers with the pre-approval process. If you’re looking for an affordable, practical place to call home with room to make it your own, this is an opportunity you won’t want to miss.

20. 2026-01-16
    listed $57,900 Active 1768-char remark

    Show marketing remark (1750 chars)

    One of the only newer 2024-built homes available at this price point in Oakland Township, 425 Elm Court offers an opportunity that is becoming increasingly difficult to find in today's market. This move-in-ready 3-bedroom, 2-bath manufactured home features approximately 1,056 square feet of thoughtfully designed living space with a clean, modern feel throughout. The open-concept layout creates a bright and functional flow between the living room, kitchen, and dining areas, making the home feel comfortable for both everyday living and entertaining. Energy-efficient low-E vinyl windows, central air, modern finishes, and low-maintenance construction help provide both comfort and peace of mind for the next owner. The split-bedroom layout also offers flexibility for guests, hobbies, storage, or a home office setup. Located within the Independence Woods community in desirable Oakland Township and within the highly regarded Lake Orion School District, residents enjoy convenient access to shopping, dining, parks, recreation, and major commuter routes throughout northern Oakland County. Lot rent is approximately $673 per month; buyer to verify all information with the park. All residents must be approved by the community following an accepted offer or during the inspection period. Contact the community office for verification at Independence Woods, [phone]. Financing for homes located in parks does differ from traditional mortgage programs and typically requires specialized lenders; mobile-home-specific lenders are available to assist qualified buyers with the pre-approval process. If you're looking for an affordable, practical place to call home with room to make it your own, this is an opportunity you won't want to miss.

21. 2026-01-16
    listed $57,900 Active 1750-char remark

    Show marketing remark (1750 chars)

    One of the only newer 2024-built homes available at this price point in Oakland Township, 425 Elm Court offers an opportunity that is becoming increasingly difficult to find in today's market. This move-in-ready 3-bedroom, 2-bath manufactured home features approximately 1,056 square feet of thoughtfully designed living space with a clean, modern feel throughout. The open-concept layout creates a bright and functional flow between the living room, kitchen, and dining areas, making the home feel comfortable for both everyday living and entertaining. Energy-efficient low-E vinyl windows, central air, modern finishes, and low-maintenance construction help provide both comfort and peace of mind for the next owner. The split-bedroom layout also offers flexibility for guests, hobbies, storage, or a home office setup. Located within the Independence Woods community in desirable Oakland Township and within the highly regarded Lake Orion School District, residents enjoy convenient access to shopping, dining, parks, recreation, and major commuter routes throughout northern Oakland County. Lot rent is approximately $673 per month; buyer to verify all information with the park. All residents must be approved by the community following an accepted offer or during the inspection period. Contact the community office for verification at Independence Woods, [phone]. Financing for homes located in parks does differ from traditional mortgage programs and typically requires specialized lenders; mobile-home-specific lenders are available to assist qualified buyers with the pre-approval process. If you're looking for an affordable, practical place to call home with room to make it your own, this is an opportunity you won't want to miss.

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,163
• − Mortgage interest: −$2,801
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$2,333
• − Management: −$2,333
• − Depreciation: −$1,455
• Taxable income: $19,242
• Est. tax owed @ 24.0%: −$4,618
• After-tax cash flow: $14,275/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 · 1 photo

Good 80/100 None rehab

This move-in-ready 3-bedroom, 2-bath manufactured home offers a clean, modern feel with good condition and minimal repairs needed. Potential buyers and renters will appreciate the updated curb appeal and interior improvements.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics
• Both Landscaping and curb appeal improvements — Improves curb appeal and enhances property value
• Both New flooring in bathrooms and kitchen — Modernizes spaces and improves functionality
• Both New windows or window treatments — Enhances energy efficiency and aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping and curb appeal improvements — Improves curb appeal and enhances property value ↑
• Both New flooring in bathrooms and kitchen — Modernizes spaces and improves functionality ↑
• Both New windows or window treatments — Enhances energy efficiency and aesthetics ↑

ⓘ 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: Romeo Community Schools
• NCES district ID: 2630090
• Math proficiency: 43% ▼ -5.00%
• Reading proficiency: 51% ▼ -8.00%
• Median HH income: $73,121
• Composite: 42.48/100
• National rank: #3212
• State rank: #102 of 540 in MI

Livability — Oakland

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

Census & demographics

• City population: 28,389
• Population (ZIP): 7,434

Population outlook (Oakland County) Hauer SSP2

• Today (2025): 1,335,747 people
• By 2030: 1,375,100 · +2.9%
• By 2040: 1,435,385 · +7.5%
• By 2050: 1,469,250 · +10.0%
• By 2075: 1,531,946 · +14.7%
• By 2100: 1,450,485 · +8.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Asian 4% Hispanic / Latino 3% Two or more races 2%
• Common ancestry: Romanian 10% Slovak 4% Scandinavian 2%
• Foreign-born: 10% · Canada, South Korea, China
• Languages at home: 89% English-only · Other Indo-European 6% German/W. Germanic 2% Spanish 1%

Political lean MEDSL · Oakland

• 2024 margin: D (+10.6) · D 54.4% · R 43.8% · Other 1.9%
• 2008→2024 swing: -3.9pp toward R · 2008: 14.5pp · 2024: 10.6pp
• All cycles: 2024: D+10.6 2020: D+14.1 2016: D+8.1 2012: D+8.1 2008: D+14.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -96.38%
• Current HPI: 183.4389
• 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

-13.6% since first listed

8 events — show timeline

• 2026-04-26 Relisted — REALCOMP
• 2026-04-26 Listing Removed — REALCOMP
• 2026-03-18 Price Changed $49,999 MiRealSource-MiMLS
• 2026-03-17 Price Changed $49,999 REALCOMP
• 2026-02-12 Price Changed $56,400 MiRealSource-MiMLS
• 2026-02-11 Price Changed $56,400 REALCOMP
• 2026-01-16 Listed $57,900 REALCOMP
• 2026-01-16 Listed $57,900 MiRealSource-MiMLS