4511 Waldorf Rd · Delton, MI 49046

$100,000

3 bd · 1.5 ba · 867 sqft · Manufactured public records · 10 Days on market

Built 1970 4.38 ac lot

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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 +23.9/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Livability +3.4/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits on this 4.38-acre parcel offering a beautiful, private setting with a trailer that is affixed to the property and winterized. The trailer is being sold as-is and currently has no appliances or heat source. The property is improved with an existing septic system and 2-inch well; however, buyers are responsible for verifying all information and conducting any desired inspections. An excellent opportunity for recreational use, future improvements, or investment. Additionally, two adjacent parcels/listings are also available for purchase, providing the potential to expand your acreage and privacy. Shared easement from the road to each parcel.

Key facts

• 2 inch well
• Expand your acreage
• Recreational use

Tags

• EXISTING SEPTIC SYSTEM
• 2 INCH WELL
• RECREATIONAL USE
• INVESTMENT OPPORTUNITY
• EXPAND YOUR ACREAGE

Property features AI

Exterior

• Utilities: Well water; Propane water heater
• Home design: Residential property; Other architectural style
• Construction: Built in 1970; Aluminum siding; Metal roof
• Exterior features: Wooded lot

Interior

• Kitchen: Kitchen
• Bedrooms: Primary bedroom; Second bedroom
• Bathrooms: One full bathroom; Primary bathroom
• Heating & cooling: Forced air heating
• Interior features: Six total rooms; Basement present (other type)
• Laundry & utility: Laundry area

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $193 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Cap rate 8.6% vs local median 0.8% in Delton — 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 68/100 on livability (#374 in MI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D, amenities F, commute F.
• Delton Kellogg Schools (rural): math 27% / reading 40% proficiency, ranked #300 of 540 in MI (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 60 active listings in the ZIP; 171 units permitted in Barry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Barry County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Recommended offer $100,000

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.12% ✓
• Cap rate: 8.61%
• Cash-on-cash: 8.28%
• DSCR: 1.37
• GRM: 7.4

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: -3.7%
• Equity multiple: 0.86×
• Total profit: $-3,886
• Equity at exit: $14,910

10-year hold

• IRR: 6.0%
• Equity multiple: 1.45×
• Total profit: $12,524
• Equity at exit: $8,646

Cash invested: $28,000 (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 49046

• Active inventory: 60
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,119 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,500/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$235
• Net cashflow: $193

Break-even live

Break-even rent $875

Max offer price $100,000

Occupancy floor 78%

Sensitivity live

Price	-10% $262	-5% $228	+0% $193	+5% $159	+10% $124
Rent	-10% $105	-5% $149	+0% $193	+5% $237	+10% $282
Rate	-1.0pp $243	-0.5pp $219	base $193	+0.5pp $167	+1.0pp $141

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-19
   status $100,000 Pending 10 DOM
2. 2026-06-18
   days on market $100,000 Active 10 DOM
3. 2026-06-17
   days on market $100,000 Active 9 DOM
4. 2026-06-17
   remarks 699-char remark
5. 2026-06-16
   days on market $100,000 Active 8 DOM
6. 2026-06-15
   days on market $100,000 Active 7 DOM
7. 2026-06-14
   days on market $100,000 Active 5 DOM
8. 2026-06-13
   days on market $100,000 Active 4 DOM
9. 2026-06-10
   days on market $100,000 Active 2 DOM
10. 2026-06-09
    remarks 665-char remark
11. 2026-06-09
    listed $100,000 Active 1 DOM

ⓘ 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 2/10 Low 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,431
• − Mortgage interest: −$5,602
• − Property taxes: −$1,500
• − Insurance: −$500
• − Repairs & maintenance: −$1,074
• − Management: −$1,074
• − Depreciation: −$2,909
• Taxable income: $771
• Est. tax owed @ 24.0%: −$185
• After-tax cash flow: $2,132/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: Delton Kellogg Schools
• NCES district ID: 2611910
• Math proficiency: 27% ▼ -6.00%
• Reading proficiency: 40% ▼ -1.00%
• Median HH income: $53,057
• Composite: 29.35/100
• National rank: #6538
• State rank: #300 of 540 in MI

Livability — Delton

• Score: 68/100
• State rank: #374
• US rank: #9793

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 6,944

Population outlook (Barry County) Hauer SSP2

• Today (2025): 59,601 people
• By 2030: 59,185 · -0.7%
• By 2040: 57,121 · -4.2%
• By 2050: 53,139 · -10.8%
• By 2075: 42,814 · -28.2%
• By 2100: 29,357 · -50.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 1% Black 1%
• Common ancestry: Iranian 6% Lithuanian 5% Romanian 3%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Barry

• 2024 margin: Solid R (+34.3) · D 32.1% · R 66.4% · Other 1.5%
• 2008→2024 swing: -24.6pp toward R · 2008: -9.8pp · 2024: -34.3pp
• All cycles: 2024: R+34.3 2020: R+32.5 2016: R+33.3 2012: R+18.1 2008: R+9.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -201.69%
• Current HPI: 234.6646
• 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

+0.0% since first listed

3 events — show timeline

• 2026-06-08 Listed $100,000 REALCOMP
• 2026-06-08 Listed $100,000 MiRealSource-MiMLS
• 2026-06-08 Listed $100,000 SW Michigan MLS