3 bd · 2.0 ba ·
1,352 sqft ·
Built 2026
· Manufactured
· Active
· 24 DOM
Cashflow @ list (25.0% down · 7.5%)
Estimated rent
$1,860/mo
Mortgage (P&I)
−$676
Tax + insurance
−$215
HOA
−$0
Vac / Maint / Mgmt
−$391
Net cashflow
$578/mo
Annual
$6,931/yr
Cap rate
11.67%
Cash-on-cash
19.19%
DSCR
1.85
1% rule
1.44%
Cash to close
$36,119
Investor read
This is a 3-bed/2.0-bath manufactured listed at $129k.
At list price, monthly cash flow is $578 ($7k/yr) — positive.
The deal already cash-flows at list — no discount required.
Meets the 1% rule at list price ($2k rent vs $129k).
It's been on market 24 days — a 2% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
Recommended offer: $127k (1.5% below list) — sets the bar for market timing.
Local home prices are declining (-3.0%/yr); year-one equity from $892 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
Kalamazoo Public Schools (urban): math 43% / reading 72% proficiency, ranked #71 of 540 in MI (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
Market conditions: Rents falling (-5.0%/yr); 375 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 339 units permitted in Kalamazoo County in 2024 (22 in 5+ unit buildings).
Kalamazoo County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
At projected returns (-3.0% appreciation + 0.0% rent growth), your $36k cash investment doubles in ~9 years — after that, you're playing with house money.
Questions for listing agent
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.
CashFlowRE · CFR-FM2C565JQYV3DH
· Data 3 weeks agocashflowre.app · 2026-05-29