14441 Woods Trl #65 · Springdale, MI 49683

$189,000

3 bd · 2.0 ba · 1,260 sqft · Manufactured · 74 Days on market

Built 1999 Poor condition 5.06 ac lot ↓ 2% 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 +26.5/30.0
• DSCR +9.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Why pay rent when you can be building equity in your own home with space to roam! 5 acres with trails to enjoy, 36' x 30' Morton Pole Barn with garage door opener and additional 14' x 10' shed. Newer Central Air, GFA Furnace, blown-in insulation, 5 block crawlspace. Only 6 miles from Crystal Mountain. With sweat equity, this place could be your own! All measurements are approximate. Buyer to confirm

Key facts

• Blown in insulation
• 5 acres
• Gfa furnace

Tags

• 5 ACRES
• 36 X 30 MORTON POLE BARN
• 14 X 10 SHED
• NEWER CENTRAL AIR
• GFA FURNACE
• BLOWN IN INSULATION

Property features AI

Exterior

• Utilities: Well water; Electricity available
• Home design: Ranch-style residence; Single-story
• Construction: Built in 1999; Vinyl siding; Asphalt roof; Crawl space foundation
• Exterior features: Recreational lot; Wooded setting; Unimproved road access

Interior

• Kitchen: Range; Microwave; Refrigerator
• Bedrooms: Primary bedroom (14 x 13); Bedroom 2 (10 x 9); Bedroom 3 (13 x 10)
• Bathrooms: 2 full bathrooms (each approx. 5 x 7)
• Heating & cooling: Forced air heating; Has cooling
• Interior features: LP tank is rented; Back room added on
• Laundry & utility: Washer; Dryer; Laundry room (8 x 7); Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $189k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $499 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $189k).
• Recommended offer: $178k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Benzie County Central Schools (rural): math 33% / reading 44% proficiency, ranked #234 of 540 in MI (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 57 active listings in the ZIP; 109 units permitted in Manistee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Manistee County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($178k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $16k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $177,660 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.21% ✓
• Cap rate: 9.46%
• Cash-on-cash: 11.31%
• DSCR: 1.50
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 0.6%
• Equity multiple: 1.02×
• Total profit: $1,171
• Equity at exit: $28,181

10-year hold

• IRR: 10.2%
• Equity multiple: 1.79×
• Total profit: $42,060
• Equity at exit: $16,341

Cash invested: $52,920 (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 49683

• Home prices YoY: -33.9%
• Active inventory: 57
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,285 medium
• Mortgage (P&I): −$991
• Tax est. 1.5%: −$236 /mo · $2,835/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$480
• Net cashflow: $499

Break-even live

Break-even rent $1,653

Max offer price $189,000

Occupancy floor 73%

Sensitivity live

Price	-10% $629	-5% $564	+0% $499	+5% $433	+10% $368
Rent	-10% $318	-5% $408	+0% $499	+5% $589	+10% $679
Rate	-1.0pp $594	-0.5pp $547	base $499	+0.5pp $450	+1.0pp $400

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $189,000 Active 74 DOM
2. 2026-06-19
   days on market $189,000 Active 72 DOM
3. 2026-06-18
   days on market $189,000 Active 71 DOM
4. 2026-06-17
   days on market $189,000 Active 70 DOM
5. 2026-06-16
   days on market $189,000 Active 69 DOM
6. 2026-06-15
   days on market $189,000 Active 68 DOM
7. 2026-06-14
   days on market $189,000 Active 66 DOM
8. 2026-06-12
   days on market $189,000 Active 65 DOM
9. 2026-06-09
   days on market $189,000 Active 62 DOM
10. 2026-06-08
    days on market $189,000 Active 61 DOM
11. 2026-06-07
    days on market $189,000 Active 60 DOM
12. 2026-06-05
    days on market $189,000 Active 57 DOM
13. 2026-06-03
    days on market $189,000 Active 56 DOM
14. 2026-06-02
    days on market $189,000 Active 55 DOM
15. 2026-06-01
    days on market $189,000 Active 54 DOM
16. 2026-05-31
    days on market $189,000 Active 53 DOM
17. 2026-05-30
    days on market $189,000 Active 52 DOM
18. 2026-05-09
    price $199,900 402-char remark

    Show marketing remark (404 chars)

    Why pay rent when you can be building equity in your own home with space to roam! 5 acres with trails to enjoy, 36' x 30' Morton Pole Barn with garage door opener and additional 14' x 10' shed. Newer Central Air, GFA Furnace, blown-in insulation, 5 block crawlspace. Only 6 miles from Crystal Mountain. With sweat equity, this place could be your own! All measurements are approximate. Buyer to confirm

19. 2026-05-09
    price $199,900 404-char remark

    Show marketing remark (404 chars)

    Why pay rent when you can be building equity in your own home with space to roam! 5 acres with trails to enjoy, 36' x 30' Morton Pole Barn with garage door opener and additional 14' x 10' shed. Newer Central Air, GFA Furnace, blown-in insulation, 5 block crawlspace. Only 6 miles from Crystal Mountain. With sweat equity, this place could be your own! All measurements are approximate. Buyer to confirm

20. 2026-05-08
    price $199,900
21. 2026-04-09
    listed $204,900 Active 402-char remark

    Show marketing remark (404 chars)

    Why pay rent when you can be building equity in your own home with space to roam! 5 acres with trails to enjoy, 36' x 30' Morton Pole Barn with garage door opener and additional 14' x 10' shed. Newer Central Air, GFA Furnace, blown-in insulation, 5 block crawlspace. Only 6 miles from Crystal Mountain. With sweat equity, this place could be your own! All measurements are approximate. Buyer to confirm

22. 2026-04-09
    listed $204,900 Active

    Show marketing remark (404 chars)

    Why pay rent when you can be building equity in your own home with space to roam! 5 acres with trails to enjoy, 36' x 30' Morton Pole Barn with garage door opener and additional 14' x 10' shed. Newer Central Air, GFA Furnace, blown-in insulation, 5 block crawlspace. Only 6 miles from Crystal Mountain. With sweat equity, this place could be your own! All measurements are approximate. Buyer to confirm

23. 2026-04-09
    listed $204,900 Active 404-char remark

    Show marketing remark (404 chars)

    Why pay rent when you can be building equity in your own home with space to roam! 5 acres with trails to enjoy, 36' x 30' Morton Pole Barn with garage door opener and additional 14' x 10' shed. Newer Central Air, GFA Furnace, blown-in insulation, 5 block crawlspace. Only 6 miles from Crystal Mountain. With sweat equity, this place could be your own! All measurements are approximate. Buyer to confirm

ⓘ 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 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥94°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,415
• − Mortgage interest: −$10,587
• − Property taxes: −$2,835
• − Insurance: −$945
• − Repairs & maintenance: −$2,193
• − Management: −$2,193
• − Depreciation: −$5,498
• Taxable income: $3,164
• Est. tax owed @ 24.0%: −$759
• After-tax cash flow: $5,225/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 · 13 photos

Poor 20/100 Extensive rehab

This property requires extensive repairs and updates to bring it up to modern standards, significantly impacting its resale and rental value.

Repairs flagged

• Major kitchen cabinets — dated and in poor condition
• Major bathroom fixtures — dated and in poor condition
• Major roof — visible wear in satellite image
• Major exterior siding — weathered and in poor condition
• Major HVAC system — outdated and in poor condition

Value-add opportunities

• Resale update kitchen and bathroom — modernizing outdated spaces will attract buyers
• Both replace HVAC system — modern HVAC will improve comfort and energy efficiency
• Both exterior siding and landscaping — improving curb appeal will attract buyers and renters

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in poor condition	Major	$15,000–50,000
bathroom fixtures · dated and in poor condition	Major	$15,000–50,000
roof · visible wear in satellite image	Major	$15,000–50,000
exterior siding · weathered and in poor condition	Major	$15,000–50,000
HVAC system · outdated and in poor condition	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Resale update kitchen and bathroom — modernizing outdated spaces will attract buyers ↑
• Both replace HVAC system — modern HVAC will improve comfort and energy efficiency ↑
• Both exterior siding and landscaping — improving curb appeal will attract buyers and renters ↑

ⓘ 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: Benzie County Central Schools
• NCES district ID: 2604950
• Math proficiency: 33% ▼ -2.00%
• Reading proficiency: 44% ▼ -2.00%
• Median HH income: $46,158
• Composite: 32.84/100
• National rank: #5616
• State rank: #234 of 540 in MI

Livability — Springdale

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

Census & demographics

• Population (ZIP): 2,070

Population outlook (Manistee County) Hauer SSP2

• Today (2025): 23,785 people
• By 2030: 23,227 · -2.3%
• By 2040: 21,795 · -8.4%
• By 2050: 20,653 · -13.2%
• By 2075: 18,833 · -20.8%
• By 2100: 15,491 · -34.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Native American 2%
• Common ancestry: Romanian 8% Iranian 6% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Other Indo-European 1% Spanish 0%

Political lean MEDSL · Manistee

• 2024 margin: R (+15.9) · D 41.2% · R 57.2% · Other 1.6%
• 2008→2024 swing: -29.2pp toward R · 2008: 13.3pp · 2024: -15.9pp
• All cycles: 2024: R+15.9 2020: R+15.1 2016: R+15.4 2012: D+5.9 2008: D+13.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -90.79%
• Current HPI: 176.9311
• 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

-2.4% since first listed

6 events — show timeline

• 2026-05-09 Price Changed $199,900 MiRealSource-MiMLS
• 2026-05-09 Price Changed $199,900 REALCOMP
• 2026-05-08 Price Changed $199,900 SW Michigan MLS
• 2026-04-09 Listed $204,900 SW Michigan MLS
• 2026-04-09 Listed $204,900 MiRealSource-MiMLS
• 2026-04-09 Listed $204,900 REALCOMP