14290 Newport Dr

Grand Haven, MI 49460

$80,000D+

4 bd · 2.0 ba · 1,680 sqft · Built 2016 · Manufactured · Active · 26 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,631/mo
• Mortgage (P&I): −$420
• Tax + insurance: −$133
• HOA: −$810
• Vac / Maint / Mgmt: −$342
• Net cashflow: $-75/mo
• Annual: $-894/yr
• Cap rate: 5.18%
• Cash-on-cash: -3.99%
• DSCR: 0.82
• 1% rule: 2.04%
• Cash to close: $22,400

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $80k. Condition is rated average.
• At list price, monthly cash flow is $-75 ($-894/yr) — negative.
• To cash-flow at today's rent, offer at most $69k (13.5% below list).
• Meets the 1% rule at list price ($2k rent vs $80k).
• It's been on market 26 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $69k (13.5% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 81/100 on livability (#69 in MI, #1,467 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, commute F.
• West Ottawa Public School District (suburban): math 37% / reading 52% proficiency, ranked #140 of 540 in MI (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sheldon Woods Elementary School (math 42% / reading 47%, grade F, #484 of 1,397 statewide, top 38%, 150 students, 65% FRL); Harbor Lights Middle School (math 38% / reading 53%, grade D+, #161 of 493 statewide, top 33%, 817 students, 52% FRL); West Ottawa High School Campus (math 39% / reading 62%, grade D+, #146 of 713 statewide, top 21%, 2,196 students, 51% FRL).
• Watch-outs: HOA is 50% of rent.
• Market conditions: 64 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,237 units permitted in Ottawa County in 2024 (443 in 5+ unit buildings).
• Ottawa County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 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.
• Cap rate 5.2% vs local median 1.8% in Grand Haven — 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.

Questions for listing agent

• 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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: Kitchen cabinets — Dark cabinets need updating or repainting.
• Moderate: Kitchen flooring — Tiled flooring in kitchen appears dated and worn.
• Moderate: Living room carpet — Carpet in living areas appears worn and could be replaced.
• Moderate: Paint — Interior walls appear painted, but photos do not show paint condition.
• Moderate: Landscaping — Simple landscaping could be improved with more plants and flowers.
• Moderate: Windows — Photos do not show glass condition, but windows appear functional.