5320 Pine Arbor Rdg · Comstock Northwest, MI 49004

$160,000

3 bd · 1.0 ba · 1,568 sqft · Manufactured public records · 64 Days on market

Built 2001 $102/sqft · 6% below area Est $170k · 6% under ↓ 9% 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 +20.2/30.0
• ARV discount +10.1/15.0
• DSCR +6.4/10.0
• 1% rule +5.3/10.0
• Schools +4.4/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

55+ community home that has been well taken care of with impressive recent improvements. All new windows, new refrigerator, wicrowave, dishwasher (Seller offering credit of $1,000 for new stove current one works and they don't want to decide what a new owner would enjoy) Unique whole house vacuumn for easy cleaning. New blinds, Newer AC and Furnace too. Lovely hardwood floors, spacious floor plan is perfect for gatherings. Dinning Room, Kitchen and Living room offer natural light and elevated views. Looking to downsize? Still want the opportunity to stay active? This community is what you didn't know you need. Weekly activities at the community house. Home has 2 spacious rooms in the garage for additional storage. Crawl space access for needed maintenance.

Key facts

• Newer ac
• Whole house vacuum
• New refrigerator

Tags

• NEW WINDOWS
• NEW REFRIGERATOR
• NEW DISHWASHER
• WHOLE HOUSE VACUUM
• NEW BLINDS
• NEWER AC

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $160k.

Deal economics

• At list price, monthly cash flow is $201 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $150k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 2.8% in Comstock Northwest — 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 73/100 on livability (#224 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities D, commute F, health & safety F.
• Gull Lake Community Schools (suburban): math 40% / reading 59% proficiency, ranked #93 of 540 in MI (top 17%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: 99 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 339 units permitted in Kalamazoo County in 2024 (22 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 $5k of value loss. Plan a longer hold.
• Kalamazoo County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $15k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $150,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.03% ✓
• Cap rate: 7.80%
• Cash-on-cash: 5.38%
• DSCR: 1.24
• GRM: 8.1

CMA / ARV

• ARV (median comp): $170,000
• List price: $160,000
• Delta: -5.88%
• Verdict: FAIR
• Comps: 5 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5261 Autumn Hill Dr	0.10mi	3/2.0	1,568 (0%)	0mo	$170,000	$108	91
5135 Cobblefield Ln #82	0.08mi	3/2.0	1,596 (+2%)	1mo	$170,000	$107	88
5305 Cobblefield Ln	0.13mi	3/2.0	1,568 (0%)	3mo	$196,500	$125	88
5323 Briarridge Ct	0.16mi	3/2.0	1,624 (+4%)	10mo	$174,000	$107	74
5300 Beardsley Ct	0.16mi	3/2.0	1,431 (-9%)	1mo	$195,000	$136	73

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: -7.9%
• Equity multiple: 0.71×
• Total profit: $-13,121
• Equity at exit: $23,857

10-year hold

• IRR: 1.6%
• Equity multiple: 1.11×
• Total profit: $5,134
• Equity at exit: $13,834

Cash invested: $44,800 (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 49004

• Active inventory: 99
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,654 medium
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,400/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $201

Break-even live

Break-even rent $1,400

Max offer price $160,000

Occupancy floor 83%

Sensitivity live

Price	-10% $311	-5% $256	+0% $201	+5% $145	+10% $90
Rent	-10% $70	-5% $135	+0% $201	+5% $266	+10% $331
Rate	-1.0pp $281	-0.5pp $241	base $201	+0.5pp $159	+1.0pp $117

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5066 Meadows Blvd Kalamazoo, MI	2.0–4.0	1.5–2.5	1163	$1,588	$1.36	14d	14	0.29mi
5001 Coopers Landing Dr Kalamazoo, MI	1.0–3.0	1.0–2.0	1111	$1,600	$1.44	14d	1	0.47mi
4895 Red Willow Trl Kalamazoo, MI	2.0	2.0	1497	$2,199	$1.47	14d	18	1.07mi

Listing history 22 events

1. 2026-06-21
   days on market $160,000 Active 64 DOM
2. 2026-06-18
   days on market $160,000 Active 61 DOM
3. 2026-06-17
   days on market $160,000 Active 60 DOM
4. 2026-06-16
   days on market $160,000 Active 59 DOM
5. 2026-06-15
   days on market $160,000 Active 58 DOM
6. 2026-06-14
   days on market $160,000 Active 56 DOM
7. 2026-06-13
   days on market $160,000 Active 55 DOM
8. 2026-06-10
   days on market $160,000 Active 53 DOM
9. 2026-06-09
   days on market $160,000 Active 52 DOM
10. 2026-06-08
    days on market $160,000 Active 51 DOM
11. 2026-06-07
    days on market $160,000 Active 50 DOM
12. 2026-06-03
    days on market $160,000 Active 46 DOM
13. 2026-06-02
    days on market $160,000 Active 45 DOM
14. 2026-06-01
    days on market $160,000 Active 44 DOM
15. 2026-05-31
    days on market $160,000 Active 43 DOM
16. 2026-05-30
    days on market $160,000 Active 42 DOM
17. 2026-05-03
    price $160,000 766-char remark

    Show marketing remark (767 chars)

    55+ community home that has been well taken care of with impressive recent improvements. All new windows, new refrigerator, wicrowave, dishwasher (Seller offering credit of $1,000 for new stove current one works and they don't want to decide what a new owner would enjoy) Unique whole house vacuumn for easy cleaning. New blinds, Newer AC and Furnace too. Lovely hardwood floors, spacious floor plan is perfect for gatherings. Dinning Room, Kitchen and Living room offer natural light and elevated views. Looking to downsize? Still want the opportunity to stay active? This community is what you didn't know you need. Weekly activities at the community house. Home has 2 spacious rooms in the garage for additional storage. Crawl space access for needed maintenance.

18. 2026-05-03
    price $160,000 767-char remark

    Show marketing remark (767 chars)

    55+ community home that has been well taken care of with impressive recent improvements. All new windows, new refrigerator, wicrowave, dishwasher (Seller offering credit of $1,000 for new stove current one works and they don't want to decide what a new owner would enjoy) Unique whole house vacuumn for easy cleaning. New blinds, Newer AC and Furnace too. Lovely hardwood floors, spacious floor plan is perfect for gatherings. Dinning Room, Kitchen and Living room offer natural light and elevated views. Looking to downsize? Still want the opportunity to stay active? This community is what you didn't know you need. Weekly activities at the community house. Home has 2 spacious rooms in the garage for additional storage. Crawl space access for needed maintenance.

19. 2026-05-03
    price $160,000

    Show marketing remark (767 chars)

    55+ community home that has been well taken care of with impressive recent improvements. All new windows, new refrigerator, wicrowave, dishwasher (Seller offering credit of $1,000 for new stove current one works and they don't want to decide what a new owner would enjoy) Unique whole house vacuumn for easy cleaning. New blinds, Newer AC and Furnace too. Lovely hardwood floors, spacious floor plan is perfect for gatherings. Dinning Room, Kitchen and Living room offer natural light and elevated views. Looking to downsize? Still want the opportunity to stay active? This community is what you didn't know you need. Weekly activities at the community house. Home has 2 spacious rooms in the garage for additional storage. Crawl space access for needed maintenance.

20. 2026-04-18
    listed $175,000 Active 766-char remark

    Show marketing remark (767 chars)

    55+ community home that has been well taken care of with impressive recent improvements. All new windows, new refrigerator, wicrowave, dishwasher (Seller offering credit of $1,000 for new stove current one works and they don't want to decide what a new owner would enjoy) Unique whole house vacuumn for easy cleaning. New blinds, Newer AC and Furnace too. Lovely hardwood floors, spacious floor plan is perfect for gatherings. Dinning Room, Kitchen and Living room offer natural light and elevated views. Looking to downsize? Still want the opportunity to stay active? This community is what you didn't know you need. Weekly activities at the community house. Home has 2 spacious rooms in the garage for additional storage. Crawl space access for needed maintenance.

21. 2026-04-18
    listed $175,000 Active 767-char remark

    Show marketing remark (767 chars)

    55+ community home that has been well taken care of with impressive recent improvements. All new windows, new refrigerator, wicrowave, dishwasher (Seller offering credit of $1,000 for new stove current one works and they don't want to decide what a new owner would enjoy) Unique whole house vacuumn for easy cleaning. New blinds, Newer AC and Furnace too. Lovely hardwood floors, spacious floor plan is perfect for gatherings. Dinning Room, Kitchen and Living room offer natural light and elevated views. Looking to downsize? Still want the opportunity to stay active? This community is what you didn't know you need. Weekly activities at the community house. Home has 2 spacious rooms in the garage for additional storage. Crawl space access for needed maintenance.

22. 2026-04-18
    listed $175,000 Active

    Show marketing remark (767 chars)

    55+ community home that has been well taken care of with impressive recent improvements. All new windows, new refrigerator, wicrowave, dishwasher (Seller offering credit of $1,000 for new stove current one works and they don't want to decide what a new owner would enjoy) Unique whole house vacuumn for easy cleaning. New blinds, Newer AC and Furnace too. Lovely hardwood floors, spacious floor plan is perfect for gatherings. Dinning Room, Kitchen and Living room offer natural light and elevated views. Looking to downsize? Still want the opportunity to stay active? This community is what you didn't know you need. Weekly activities at the community house. Home has 2 spacious rooms in the garage for additional storage. Crawl space access for needed maintenance.

ⓘ 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: $19,844
• − Mortgage interest: −$8,962
• − Property taxes: −$2,400
• − Insurance: −$800
• − Repairs & maintenance: −$1,588
• − Management: −$1,588
• − Depreciation: −$4,655
• Taxable loss: −$148
• Est. tax savings @ 24.0%: +$36
• After-tax cash flow: $2,444/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.

Schools (NCES district)

• District: Gull Lake Community Schools
• NCES district ID: 2617250
• Math proficiency: 40% ▼ -6.00%
• Reading proficiency: 59% ▼ -3.00%
• Median HH income: $64,763
• Composite: 43.71/100
• National rank: #2952
• State rank: #93 of 540 in MI

Livability — Comstock Northwest

• Score: 73/100
• State rank: #224
• US rank: #5631

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Kalamazoo County · 224,317 people
• Metro: Kalamazoo-Portage, MI
• Population (ZIP): 17,815
• Household income: $73,453
• Rent vs Own: 25.5% rent · 74.5% own
• Severe rent burden: 330.0

Population outlook (Kalamazoo County) Hauer SSP2

• Today (2025): 280,982 people
• By 2030: 292,068 · +3.9%
• By 2040: 312,191 · +11.1%
• By 2050: 331,196 · +17.9%
• By 2075: 379,021 · +34.9%
• By 2100: 396,579 · +41.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Two or more races 9% Black 8% Hispanic / Latino 5% Asian 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Iranian 10% Romanian 5% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 1% Tagalog/Filipino 1%

Political lean MEDSL · Kalamazoo

• 2024 margin: D (+17.7) · D 58.0% · R 40.3% · Other 1.7%
• 2008→2024 swing: -1.8pp toward R · 2008: 19.5pp · 2024: 17.7pp
• All cycles: 2024: D+17.7 2020: D+18.7 2016: D+12.8 2012: D+13.3 2008: D+19.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -247.79%
• Current HPI: 202.6197
• Rent YoY: —
• Metro: Kalamazoo-Portage, 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

-8.6% since first listed

6 events — show timeline

• 2026-05-03 Price Changed $160,000 MiRealSource-MiMLS
• 2026-05-03 Price Changed $160,000 REALCOMP
• 2026-05-03 Price Changed $160,000 SW Michigan MLS
• 2026-04-18 Listed $175,000 SW Michigan MLS
• 2026-04-18 Listed $175,000 REALCOMP
• 2026-04-18 Listed $175,000 MiRealSource-MiMLS

Property tax history

+7.6%/yr

Latest (2025): $218 · +5.3% YoY. Source: county tax records.