6988 Mckean Rd Lot #220 Rd · Ypsilanti, MI 48197

$84,900

3 bd · 2.0 ba · 2,021 sqft · Manufactured · 43 Days on market

Built 1993 Good condition 4,356 sqft lot $42/sqft · 73% below area $790/mo HOA · 41% of rent ↓ 29% since listing

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Why this score? — see what drove the C+ 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 +22.7/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +3.3/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious and beautifully maintained, this 3-bedroom, 2-bath mobile home in the desirable Swan Creek community offers comfortable living with room to grow. The wide open-concept layout creates an airy, inviting feel, perfect for both everyday living and entertaining. Enjoy not one but two living areas - a formal living room for quiet relaxation and a second cozy living space featuring a fireplace. Situated on a premium corner lot, this home provides extra yard space for outdoor enjoyment. Each bedroom is generously sized, and the home is in excellent condition, making it truly move-in ready. Residents of Swan Creek also enjoy access to fantastic community amenities, including a pool, playground, and clubhouse. * All Appliances Included * A perfect blend of space, comfort, and community living - don't miss this opportunity!

Key facts

• 4,356 sq ft lot
• Built 1993
• Listed 43 days

Property features AI

Finance

• Other: Located in a community with unit numbering (directions: enter Swan Creek mobile home park to unit #220)
• HOA & community: Homeowners association with a $790 monthly fee; HOA covers snow removal and trash

Exterior

• Parking: Driveway (no garage)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Ground-level entry with steps; Vinyl siding
• Construction: Slab foundation
• Exterior features: Deck; Paved road access

Interior

• Kitchen: Dishwasher; Free-standing gas range; Free-standing refrigerator; Microwave
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air; Ceiling fans; Natural gas heating; Wall furnace
• Interior features: Fireplace in the living room; 3 total rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $85k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $147 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 4.0% in Ypsilanti — 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 81/100 on livability (#71 in MI, #1,539 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment D-.
• Lincoln Consolidated School District (rural): math 17% / reading 33% proficiency, ranked #393 of 540 in MI (top 73%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+3.4%/yr); 239 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 996 units permitted in Washtenaw County in 2024 (492 in 5+ unit buildings).
• This rent runs 31% of the median local income ($74k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $587 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Washtenaw County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 2y ago 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.
• Current owner paid $55k; list at $85k implies a 54% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 41% of rent.

Recommended offer $82,353 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is F 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?
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: 2.27% ✓
• Cap rate: 8.37%
• Cash-on-cash: 7.40%
• DSCR: 1.33
• GRM: 3.7

CMA / ARV

• ARV (median comp): $317,282
• List price: $84,900
• Delta: -73.24%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.36% rent growth · sell at horizon

5-year hold

• IRR: -3.5%
• Equity multiple: 0.87×
• Total profit: $-3,200
• Equity at exit: $12,659

10-year hold

• IRR: 7.5%
• Equity multiple: 1.60×
• Total profit: $14,231
• Equity at exit: $7,341

Cash invested: $23,772 (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 48197

• Rents YoY: 3.4%
• Active inventory: 239
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,928 medium
• Mortgage (P&I): −$445
• Tax est. 1.5%: −$106 /mo · $1,274/yr
• Insurance: −$35
• HOA: −$790
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $147

Break-even live

Break-even rent $1,743

Max offer price $84,900

Occupancy floor 87%

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9226 White Wing Dr Ypsilanti Charter Twp, MI	2.0	2.0	1500	$2,726	$1.82	1d	2	1.46mi

HOA detail

• Monthly dues: $790 · $9,480/yr
• Likely covers: pool

Listing history 38 events

1. 2026-06-18
   days on market $84,900 Active 43 DOM
2. 2026-06-17
   days on market $84,900 Active 42 DOM
3. 2026-06-16
   days on market $84,900 Active 41 DOM
4. 2026-06-15
   days on market $84,900 Active 40 DOM
5. 2026-06-14
   days on market $84,900 Active 38 DOM
6. 2026-06-10
   days on market $84,900 Active 35 DOM
7. 2026-06-09
   days on market $84,900 Active 34 DOM
8. 2026-06-08
   days on market $84,900 Active 33 DOM
9. 2026-06-07
   days on market $84,900 Active 32 DOM
10. 2026-06-05
    days on market $84,900 Active 29 DOM

    Show marketing remark (849 chars)

    Spacious and beautifully maintained, this 3-bedroom, 2-bath mobile home in the desirable Swan Creek community offers comfortable living with room to grow. The wide open-concept layout creates an airy, inviting feel, perfect for both everyday living and entertaining. Enjoy not one but two living areas—a formal living room for quiet relaxation and a second cozy living space featuring a fireplace. Situated on a premium corner lot, this home provides extra yard space for outdoor enjoyment. Each bedroom is generously sized, and the home is in excellent condition, making it truly move-in ready. Residents of Swan Creek also enjoy access to fantastic community amenities, including a pool, playground, and clubhouse. * All Appliances Included * A perfect blend of space, comfort, and community living—don’t miss this opportunity!

11. 2026-06-03
    days on market $84,900 Active 28 DOM
12. 2026-06-02
    days on market $84,900 Active 27 DOM
13. 2026-06-01
    days on market $84,900 Active 26 DOM
14. 2026-05-31
    days on market $84,900 Active 25 DOM
15. 2026-05-30
    days on market $84,900 Active 24 DOM
16. 2026-05-07
    listed $84,900 Active 1430-char remark
17. 2026-05-07
    listed $84,900 Active 1466-char remark
18. 2026-05-06
    historical $84,900 1430-char remark
19. 2026-04-23
    listed $55,000 Active

    Show marketing remark (834 chars)

    Spacious and beautifully maintained, this 3-bedroom, 2-bath mobile home in the desirable Swan Creek community offers comfortable living with room to grow. The wide open-concept layout creates an airy, inviting feel, perfect for both everyday living and entertaining. Enjoy not one but two living areas - a formal living room for quiet relaxation and a second cozy living space featuring a fireplace. Situated on a premium corner lot, this home provides extra yard space for outdoor enjoyment. Each bedroom is generously sized, and the home is in excellent condition, making it truly move-in ready. Residents of Swan Creek also enjoy access to fantastic community amenities, including a pool, playground, and clubhouse. * All Appliances Included * A perfect blend of space, comfort, and community living - don't miss this opportunity!

20. 2026-04-23
    listed $55,000 Active

    Show marketing remark (834 chars)

    Spacious and beautifully maintained, this 3-bedroom, 2-bath mobile home in the desirable Swan Creek community offers comfortable living with room to grow. The wide open-concept layout creates an airy, inviting feel, perfect for both everyday living and entertaining. Enjoy not one but two living areas - a formal living room for quiet relaxation and a second cozy living space featuring a fireplace. Situated on a premium corner lot, this home provides extra yard space for outdoor enjoyment. Each bedroom is generously sized, and the home is in excellent condition, making it truly move-in ready. Residents of Swan Creek also enjoy access to fantastic community amenities, including a pool, playground, and clubhouse. * All Appliances Included * A perfect blend of space, comfort, and community living - don't miss this opportunity!

21. 2025-06-07
    soldstatus $55,000 Closed
22. 2025-06-07
    soldstatus $55,000 Closed
23. 2025-04-28
    status Pending
24. 2025-04-28
    status Pending
25. 2025-04-15
    listed $60,000 Active
26. 2025-04-15
    listed $60,000 Active
27. 2024-04-30
    soldstatus $48,500 Sold
28. 2024-04-30
    soldstatus $48,500
29. 2024-04-30
    soldstatus $48,500 Closed
30. 2024-03-30
    status Pending
31. 2024-03-30
    status Pending
32. 2024-03-13
    price $55,000
33. 2024-03-12
    price $55,000
34. 2024-03-01
    price $60,000
35. 2024-03-01
    price $60,000
36. 2024-02-23
    listed $70,000 Active
37. 2024-02-23
    listed $55,000
38. 2024-02-23
    listed $70,000 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 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,140
• − Mortgage interest: −$4,756
• − Property taxes: −$1,274
• − Insurance: −$424
• − Repairs & maintenance: −$1,851
• − Management: −$1,851
• − HOA: −$9,480
• − Depreciation: −$2,470
• Taxable income: $1,034
• Est. tax owed @ 24.0%: −$248
• After-tax cash flow: $1,512/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

Good 80/100 Cosmetic rehab

This well-maintained and updated manufactured home offers a good balance of comfort and style, with minor cosmetic improvements needed to maximize its value.

Value-add opportunities

• Both paint exterior — enhances curb appeal and value
• Resale replace kitchen countertops — modernizes the kitchen and improves functionality

Renovation cost estimate screening

Value-add ROI direction

• Both paint exterior — enhances curb appeal and value ↑
• Resale replace kitchen countertops — modernizes the kitchen and improves functionality ↑

ⓘ 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: Lincoln Consolidated School District
• NCES district ID: 2621570
• Math proficiency: 17% ▼ -7.00%
• Reading proficiency: 33% ▼ -3.00%
• Median HH income: $68,001
• Composite: 23.72/100
• National rank: #7827
• State rank: #393 of 540 in MI

Livability — Ypsilanti

• Score: 81/100
• State rank: #71
• US rank: #1539

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Washtenaw County · 306,860 people
• City population: 105,769
• Metro: Ann Arbor, MI
• Population (ZIP): 66,525
• Household income: $73,737
• Rent vs Own: 46.1% rent · 53.9% own
• Severe rent burden: 3134.0

Population outlook (Washtenaw County) Hauer SSP2

• Today (2025): 402,878 people
• By 2030: 424,104 · +5.3%
• By 2040: 464,633 · +15.3%
• By 2050: 504,728 · +25.3%
• By 2075: 614,463 · +52.5%
• By 2100: 676,181 · +67.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 57% Black 23% Two or more races 9% Hispanic / Latino 8% Asian 6%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 5% Slovak 3% Lithuanian 3%
• Foreign-born: 12% · Canada, China, Vietnam
• Languages at home: 84% English-only · Spanish 4% Other Indo-European 3% Arabic 3%

Political lean MEDSL · Washtenaw

• 2024 margin: Solid D (+44.4) · D 71.0% · R 26.6% · Other 2.4%
• 2008→2024 swing: +3.5pp toward D · 2008: 41.0pp · 2024: 44.4pp
• All cycles: 2024: D+44.4 2020: D+46.6 2016: D+41.5 2012: D+36.0 2008: D+41.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -223.94%
• Current HPI: 217.0173
• Rent YoY: ▲ 3.36%
• Metro: Ann Arbor, 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

-28.7% since first listed

25 events — show timeline

• 2026-06-05 Price Changed $49,900 MiRealSource-MiMLS
• 2026-06-05 Price Changed $49,900 REALCOMP
• 2026-05-07 Listed $84,900 MiRealSource-MiMLS
• 2026-05-07 Listed $84,900 REALCOMP
• 2026-05-06 Coming Soon $84,900 MiRealSource-MiMLS
• 2026-04-23 Listed $55,000 REALCOMP
• 2026-04-23 Listed $55,000 MiRealSource-MiMLS
• 2025-06-07 Sold (MLS) $55,000 MiRealSource-MiMLS
• 2025-06-07 Sold (MLS) $55,000 REALCOMP
• 2025-04-28 Pending — MiRealSource-MiMLS
• 2025-04-28 Pending — REALCOMP
• 2025-04-15 Listed $60,000 REALCOMP
• 2025-04-15 Listed $60,000 MiRealSource-MiMLS
• 2024-04-30 Sold (MLS) $48,500 MiRealSource-MiMLS
• 2024-04-30 Sold (MLS) $48,500 MiRealSource-MiMLS
• 2024-04-30 Sold (MLS) $48,500 REALCOMP
• 2024-03-30 Pending — MiRealSource-MiMLS
• 2024-03-30 Pending — REALCOMP
• 2024-03-13 Price Changed $55,000 MiRealSource-MiMLS
• 2024-03-12 Price Changed $55,000 REALCOMP
• 2024-03-01 Price Changed $60,000 MiRealSource-MiMLS
• 2024-03-01 Price Changed $60,000 REALCOMP
• 2024-02-23 Listed $70,000 MiRealSource-MiMLS
• 2024-02-23 Listed $55,000 MiRealSource-MiMLS
• 2024-02-23 Listed $70,000 REALCOMP