51074 Mott Rd #168

Ypsilanti, MI 48188

$20,000D

2 bd · 1.0 ba · 784 sqft · Built 2026 · Manufactured · Active · 33 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,289/mo
• Mortgage (P&I): −$105
• Tax + insurance: −$33
• HOA: −$0
• Vac / Maint / Mgmt: −$271
• Net cashflow: $880/mo
• Annual: $10,565/yr
• Cap rate: 59.12%
• Cash-on-cash: 188.66%
• DSCR: 9.39
• 1% rule: 6.45%
• Cash to close: $5,600

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $20k.
• At list price, monthly cash flow is $880 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• It's been on market 33 days — a 3% lower offer ($19k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $19k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $138 of loan paydown is wiped out by about $600 of value loss. Plan a longer hold.
• Location reads 81/100 on livability (#71 in MI, #1,539 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment D-.
• Van Buren Public Schools (suburban): math 33% / reading 43% proficiency, ranked #228 of 540 in MI (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 251 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• 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 + 0.5% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.
• Cap rate 59.1% vs local median 3.8% in Ypsilanti — 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.
• This rent is only 13% of the median local income ($123k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.