4550 Ursa Way #176

Rockford, MI 49341

$69,900B

3 bd · 2.0 ba · 1,216 sqft · Built 2026 · Manufactured · Active · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,120/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$116
• HOA: −$0
• Vac / Maint / Mgmt: −$445
• Net cashflow: $1,192/mo
• Annual: $14,304/yr
• Cap rate: 26.76%
• Cash-on-cash: 73.08%
• DSCR: 4.25
• 1% rule: 3.03%
• Cash to close: $19,572

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $70k. Condition is rated good.
• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• It's been on market 23 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $69k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#153 in MI, #3,827 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Rockford Public Schools (suburban): math 59% / reading 64% proficiency, ranked #28 of 540 in MI (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 12% free/reduced lunch — higher-income household profile.
• Zoned schools: Valley View Elementary School (math 70% / reading 72%, grade A-, #69 of 1,397 statewide, top 5%, 631 students, 15% FRL); North Rockford Middle School (math 58% / reading 63%, grade B+, #51 of 493 statewide, top 11%, 885 students, 19% FRL); Rockford High School (math 46% / reading 71%, grade C, #91 of 713 statewide, top 13%, 1,819 students, 14% FRL) — zoned schools at 16% FRL track the district average.
• Market conditions: 274 active listings in the ZIP; high-income renter base; 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).
• Kent County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 26.8% vs local median 3.0% in Rockford — 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

• 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?
• 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.