224 S Kenbrook St SE · Cutlerville, MI 49548

$45,000

2 bd · 1.0 ba · 705 sqft · Manufactured · 54 Days on market

Manufactured home Built 2017 Average condition 705 sqft lot $64/sqft · at area comps Est $45k · at est. $633/mo HOA · 60% of rent

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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 +4.8/30.0
• Livability +3.6/5.0
• Schools +3.4/10.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Affordable mobile home located in a convenient Grand Rapids location! This cozy property features 2 bedrooms and 1 full bathroom across 706 square feet of living space, offering a functional and comfortable layout. Perfect for first-time buyers or those looking to downsize, this home provides a great opportunity to add your personal touch. Enjoy low-maintenance living with easy access to nearby amenities, shopping, dining, and major highways. Don't miss this opportunity--schedule your showing today!

Key facts

• Built 2017
• Listed 54 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $45k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $-110 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $29k (35.4% below list).
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $29k (35.4% below list) — sets the bar for cash-flow.
• Cap rate 3.4% vs local median 2.5% in Cutlerville — 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 71/100 on livability (#280 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: crime C-, amenities F, commute F.
• Kentwood Public Schools (suburban): math 34% / reading 46% proficiency, ranked #206 of 540 in MI (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 112 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Kent County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 3 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 60% of rent.

Recommended offer $29,057 (35.4% 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 54 days. Have you received any prior offers? Is the seller open to a 35% 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. 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?
6. 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.
7. 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.
8. 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: 2.35% ✓
• Cap rate: 3.35%
• Cash-on-cash: -10.49%
• DSCR: 0.53
• GRM: 3.6

CMA / ARV

• ARV (median comp): $45,000
• List price: $45,000
• Delta: —
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
224 S Kenbrook St SE	0.00mi	2/1.0	705 (0%)	1mo	$45,000	$64	99

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -33.6%
• Equity multiple: -0.10×
• Total profit: $-13,904
• Equity at exit: $6,710

10-year hold

• IRR: -34.1%
• Equity multiple: -0.55×
• Total profit: $-19,499
• Equity at exit: $3,891

Cash invested: $12,600 (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 49548

• Active inventory: 112
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,055 medium
• Mortgage (P&I): −$236
• Tax est. 1.5%: −$56 /mo · $675/yr
• Insurance: −$19
• HOA: −$633
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $-110

Break-even live

Break-even rent $1,195

Max offer price $29,057

Occupancy floor —

Sensitivity live

Price	-10% $-79	-5% $-95	+0% $-110	+5% $-126	+10% $-141
Rent	-10% $-194	-5% $-152	+0% $-110	+5% $-68	+10% $-27
Rate	-1.0pp $-88	-0.5pp $-99	base $-110	+0.5pp $-122	+1.0pp $-134

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6471 Division Ave S Grand Rapids, MI	2.0	1.0	728	$1,399	$1.92	13d	1	0.45mi
5310 Kellogg Woods Dr SE Grand Rapids, MI	1.0	1.0	625	$1,329	$2.13	5d	10	1.08mi
5128 St Louis Dr SE Grand Rapids, MI	1.0	1.0	701	$1,030	$1.47	5d	1	1.30mi

HOA detail

• Monthly dues: $633 · $7,596/yr

Listing history 3 events

1. 2026-03-27
   listed $45,000 Active 504-char remark

   Show marketing remark (504 chars)

   Affordable mobile home located in a convenient Grand Rapids location! This cozy property features 2 bedrooms and 1 full bathroom across 706 square feet of living space, offering a functional and comfortable layout. Perfect for first-time buyers or those looking to downsize, this home provides a great opportunity to add your personal touch. Enjoy low-maintenance living with easy access to nearby amenities, shopping, dining, and major highways. Don't miss this opportunity--schedule your showing today!

2. 2026-03-27
   listed $45,000 Active 504-char remark

   Show marketing remark (504 chars)

   Affordable mobile home located in a convenient Grand Rapids location! This cozy property features 2 bedrooms and 1 full bathroom across 706 square feet of living space, offering a functional and comfortable layout. Perfect for first-time buyers or those looking to downsize, this home provides a great opportunity to add your personal touch. Enjoy low-maintenance living with easy access to nearby amenities, shopping, dining, and major highways. Don't miss this opportunity--schedule your showing today!

3. 2026-03-27
   listed $45,000 Active

   Show marketing remark (504 chars)

   Affordable mobile home located in a convenient Grand Rapids location! This cozy property features 2 bedrooms and 1 full bathroom across 706 square feet of living space, offering a functional and comfortable layout. Perfect for first-time buyers or those looking to downsize, this home provides a great opportunity to add your personal touch. Enjoy low-maintenance living with easy access to nearby amenities, shopping, dining, and major highways. Don't miss this opportunity--schedule your showing today!

ⓘ 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: $12,665
• − Mortgage interest: −$2,521
• − Property taxes: −$675
• − Insurance: −$225
• − Repairs & maintenance: −$1,013
• − Management: −$1,013
• − HOA: −$7,596
• − Depreciation: −$1,309
• Taxable loss: −$1,687
• Est. tax savings @ 24.0%: +$405
• After-tax cash flow: $-917/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 · 12 photos

Average 55/100 Cosmetic rehab

This mobile home is in average condition with some cosmetic repairs needed. It offers a functional layout and is located in a convenient Grand Rapids location.

Repairs flagged

• Minor exterior siding — visible wear
• Minor interior paint — some wear

Value-add opportunities

• Both paint interior walls — enhances curb appeal and interior aesthetics
• Both repair exterior siding — improves curb appeal and structural integrity
• Both landscaping — enhances curb appeal and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · visible wear	Minor	$500–3,000
interior paint · some wear	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both paint interior walls — enhances curb appeal and interior aesthetics ↑
• Both repair exterior siding — improves curb appeal and structural integrity ↑
• Both landscaping — enhances curb appeal and adds value ↑

ⓘ 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: Kentwood Public Schools
• NCES district ID: 2620340
• Math proficiency: 34% ▼ -4.00%
• Reading proficiency: 46% ▼ -3.00%
• Median HH income: $48,962
• Composite: 34.35/100
• National rank: #5226
• State rank: #206 of 540 in MI

Livability — Cutlerville

• Score: 71/100
• State rank: #280
• US rank: #6874

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cutlerville, MI
• County: Kent County · 533,805 people
• Metro: Grand Rapids-Kentwood, MI
• Population (ZIP): 34,777
• Household income: $61,636
• Rent vs Own: 27.0% rent · 73.0% own
• Severe rent burden: 781.0

Population outlook (Kent County) Hauer SSP2

• Today (2025): 712,484 people
• By 2030: 748,618 · +5.1%
• By 2040: 814,777 · +14.4%
• By 2050: 868,556 · +21.9%
• By 2075: 966,487 · +35.7%
• By 2100: 967,975 · +35.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 49% Hispanic / Latino 22% Two or more races 16% Black 15% Asian 6% Native American 1%
• Hispanic origin (detail): Mexican 15% Puerto Rican 4%
• Common ancestry: Iranian 10% Romanian 4% Lithuanian 2%
• Foreign-born: 13% · Canada, Vietnam, China
• Languages at home: 78% English-only · Spanish 14% Vietnamese 2% French/Haitian/Cajun 1%

Political lean MEDSL · Kent

• 2024 margin: Lean D (+5.4) · D 51.8% · R 46.5% · Other 1.7%
• 2008→2024 swing: +4.8pp toward D · 2008: 0.5pp · 2024: 5.4pp
• All cycles: 2024: D+5.4 2020: D+6.1 2016: R+3.1 2012: R+7.9 2008: D+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -208.41%
• Current HPI: 325.8096
• Rent YoY: —
• Metro: Grand Rapids-Kentwood, 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

3 events — show timeline

• 2026-03-27 Listed $45,000 MiRealSource-MiMLS
• 2026-03-27 Listed $45,000 REALCOMP
• 2026-03-27 Listed $45,000 SW Michigan MLS