25182 Frontier Cir · Flat Rock, MI 48134

$62,900

3 bd · 2.0 ba · 1,568 sqft · Manufactured · 186 Days on market

Built 1998 2,800 sqft lot $550/mo HOA · 32% of rent ↓ 10% since listing

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Very clean 3 bedroom home with 2 full baths, open floor plan with large living area, all appliances included with sale of home. This is a manufactured home on a rented lot in Deerfield Estates mobile home park. Easy to show and move in at closing.

Key facts

• 2,800 sq ft lot
• Built 1998
• Listed 186 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $63k.

Deal economics

• At list price, monthly cash flow is $384 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $63k).
• Recommended offer: $55k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.6% vs local median 2.7% in Flat Rock — 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 74/100 on livability (#177 in MI, #4,594 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Flat Rock Community Schools (suburban): math 26% / reading 37% proficiency, ranked #326 of 540 in MI (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: John M Barnes Elem School (math 31% / reading 33%, grade F, #814 of 1,397 statewide, top 61%, 380 students, 53% FRL); Thomas Simpson Middle School (math 24% / reading 39%, grade F, #323 of 493 statewide, top 66%, 402 students, 44% FRL); Flat Rock Community High School (math 27% / reading 42%, grade F, #372 of 713 statewide, top 56%, 475 students, 38% FRL).
• Market conditions: 84 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $435 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Wayne County population projected at -17% 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 $18k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 186 days — a 12% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $7k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 32% of rent.

Recommended offer $55,352 (12.0% below list)

Questions for the listing agent

1. It's been on market 186 days. Have you received any prior offers? Is the seller open to a 12% 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. 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: 2.75% ✓
• Cap rate: 13.61%
• Cash-on-cash: 26.14%
• DSCR: 2.16
• GRM: 3.0

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: 20.3%
• Equity multiple: 1.83×
• Total profit: $14,607
• Equity at exit: $9,379

10-year hold

• IRR: 28.7%
• Equity multiple: 3.59×
• Total profit: $45,663
• Equity at exit: $5,438

Cash invested: $17,612 (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 48134

• Active inventory: 84
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,732 medium
• Mortgage (P&I): −$330
• Tax est. 1.5%: −$79 /mo · $944/yr
• Insurance: −$26
• HOA: −$550
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $384

Break-even live

Break-even rent $1,246

Max offer price $62,900

Occupancy floor 73%

Sensitivity live

Price	-10% $427	-5% $405	+0% $384	+5% $362	+10% $340
Rent	-10% $247	-5% $315	+0% $384	+5% $452	+10% $520
Rate	-1.0pp $415	-0.5pp $400	base $384	+0.5pp $367	+1.0pp $351

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: $15,725
• Closing costs: $1,887
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23501 Van Horn Rd Woodhaven, MI	4.0	2.0	1568	$1,599	$1.02	0d	1	1.12mi

HOA detail

• Monthly dues: $550 · $6,600/yr

Listing history 12 events

1. 2026-04-24
   status Pending 247-char remark

   Show marketing remark (247 chars)

   Very clean 3 bedroom home with 2 full baths, open floor plan with large living area, all appliances included with sale of home. This is a manufactured home on a rented lot in Deerfield Estates mobile home park. Easy to show and move in at closing.

2. 2026-04-24
   status Pending

   Show marketing remark (247 chars)

   Very clean 3 bedroom home with 2 full baths, open floor plan with large living area, all appliances included with sale of home. This is a manufactured home on a rented lot in Deerfield Estates mobile home park. Easy to show and move in at closing.

3. 2026-04-17
   price $62,900 247-char remark

   Show marketing remark (247 chars)

   Very clean 3 bedroom home with 2 full baths, open floor plan with large living area, all appliances included with sale of home. This is a manufactured home on a rented lot in Deerfield Estates mobile home park. Easy to show and move in at closing.

4. 2026-04-16
   price $62,900
5. 2026-03-10
   price $65,000 247-char remark

   Show marketing remark (247 chars)

   Very clean 3 bedroom home with 2 full baths, open floor plan with large living area, all appliances included with sale of home. This is a manufactured home on a rented lot in Deerfield Estates mobile home park. Easy to show and move in at closing.

6. 2026-03-10
   price $65,000

   Show marketing remark (247 chars)

   Very clean 3 bedroom home with 2 full baths, open floor plan with large living area, all appliances included with sale of home. This is a manufactured home on a rented lot in Deerfield Estates mobile home park. Easy to show and move in at closing.

7. 2026-02-25
   price $67,000 247-char remark

   Show marketing remark (247 chars)

   Very clean 3 bedroom home with 2 full baths, open floor plan with large living area, all appliances included with sale of home. This is a manufactured home on a rented lot in Deerfield Estates mobile home park. Easy to show and move in at closing.

8. 2026-02-25
   price $67,000

   Show marketing remark (247 chars)

   Very clean 3 bedroom home with 2 full baths, open floor plan with large living area, all appliances included with sale of home. This is a manufactured home on a rented lot in Deerfield Estates mobile home park. Easy to show and move in at closing.

9. 2025-12-11
   price $69,000 247-char remark

   Show marketing remark (247 chars)

   Very clean 3 bedroom home with 2 full baths, open floor plan with large living area, all appliances included with sale of home. This is a manufactured home on a rented lot in Deerfield Estates mobile home park. Easy to show and move in at closing.

10. 2025-12-10
    price $69,000
11. 2025-10-20
    listed $70,000 Active
12. 2025-10-19
    listed $70,000 Active 247-char remark

    Show marketing remark (247 chars)

    Very clean 3 bedroom home with 2 full baths, open floor plan with large living area, all appliances included with sale of home. This is a manufactured home on a rented lot in Deerfield Estates mobile home park. Easy to show and move in at closing.

ⓘ 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: $20,785
• − Mortgage interest: −$3,523
• − Property taxes: −$944
• − Insurance: −$314
• − Repairs & maintenance: −$1,663
• − Management: −$1,663
• − HOA: −$6,600
• − Depreciation: −$1,830
• Taxable income: $4,248
• Est. tax owed @ 24.0%: −$1,020
• After-tax cash flow: $3,584/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: Flat Rock Community Schools
• NCES district ID: 2607080
• Math proficiency: 26% ▼ -7.00%
• Reading proficiency: 37% ▼ -2.00%
• Median HH income: $55,015
• Composite: 27.89/100
• National rank: #6871
• State rank: #326 of 540 in MI

Livability — Flat Rock

• Score: 74/100
• State rank: #177
• US rank: #4594

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Flat Rock, MI
• County: Wayne County · 1,562,939 people
• City population: 23,935
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 23,935
• Household income: $92,076
• Rent vs Own: 15.7% rent · 84.3% own
• Severe rent burden: 228.0

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 1,675,273 people
• By 2030: 1,620,300 · -3.3%
• By 2040: 1,502,341 · -10.3%
• By 2050: 1,384,039 · -17.4%
• By 2075: 1,124,592 · -32.9%
• By 2100: 881,193 · -47.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Two or more races 10% Hispanic / Latino 9% Black 8%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 13% Lithuanian 5% Portuguese 3%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1%

Political lean MEDSL · Wayne

• 2024 margin: Strong D (+29.0) · D 62.7% · R 33.7% · Other 3.6%
• 2008→2024 swing: -20.5pp toward R · 2008: 49.5pp · 2024: 29.0pp
• All cycles: 2024: D+29.0 2020: D+38.1 2016: D+37.3 2012: D+46.9 2008: D+49.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -223.42%
• Current HPI: 232.7533
• Rent YoY: —
• Metro: Detroit-Warren-Dearborn, 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

-10.1% since first listed

12 events — show timeline

• 2026-04-24 Pending — MiRealSource-MiMLS
• 2026-04-24 Pending — REALCOMP
• 2026-04-17 Price Changed $62,900 MiRealSource-MiMLS
• 2026-04-16 Price Changed $62,900 REALCOMP
• 2026-03-10 Price Changed $65,000 MiRealSource-MiMLS
• 2026-03-10 Price Changed $65,000 REALCOMP
• 2026-02-25 Price Changed $67,000 MiRealSource-MiMLS
• 2026-02-25 Price Changed $67,000 REALCOMP
• 2025-12-11 Price Changed $69,000 MiRealSource-MiMLS
• 2025-12-10 Price Changed $69,000 REALCOMP
• 2025-10-20 Listed $70,000 REALCOMP
• 2025-10-19 Listed $70,000 MiRealSource-MiMLS