1139 Lincoln Ave #36 · Holland, MI 49423

$56,900

3 bd · 2.0 ba · 924 sqft · Manufactured · 38 Days on market

Built 2008 Fair condition Est $102k · 44% under $760/mo HOA · 41% of rent ↓ 5% since listing

---

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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +5.0/5.0
• Livability +4.1/5.0
• Schools +3.0/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome To 1139 Lincoln Ave Lot 36! This Home Is A 3 Bedroom / 2 Bathroom And Has A Nice Open And Spacious Floor Plan. It Has Washer And Dryer Hook Up And I Will Include The Samsung Washer And Dryer. It Is Located In A Great Community With A Pool! Does Need Some Cosmetic Work Like Some Paint, Door Trim, Carpet. New Hot Water Heater Replaced Last Year With Ottagan Plumbing With Warranty! Central AC! This Is A Beautiful Area! You Will Need Approval With Lincoln Estates. Pets Are Welcome!

Key facts

• Central ac
• New hot water heater
• Pets are welcome

Tags

• OPEN AND SPACIOUS FLOOR PLAN
• WASHER AND DRYER HOOK UP
• SAMSUNG WASHER AND DRYER
• NEW HOT WATER HEATER
• CENTRAL AC
• PETS ARE WELCOME

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $57k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $328 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $57k).
• Recommended offer: $55k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.2% vs local median 2.5% in Holland — 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 82/100 on livability (#46 in MI, #1,066 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, amenities F.
• Holland City School District (urban): math 26% / reading 43% proficiency, ranked #292 of 540 in MI (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+10.0%/yr); 257 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 419 units permitted in Allegan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $393 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $16k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $3k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 41% of rent.

Recommended offer $55,193 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 3.29% ✓
• Cap rate: 13.21%
• Cash-on-cash: 24.70%
• DSCR: 2.10
• GRM: 2.5

CMA / ARV

• ARV (on-the-fly): $101,640
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
155 E 48th St #28	0.25mi	2/1.0 (-1)	924 (0%)	19mo	$102,050	$110	63

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 29.3%
• Equity multiple: 2.39×
• Total profit: $22,068
• Equity at exit: $8,484

10-year hold

• IRR: 41.5%
• Equity multiple: 6.85×
• Total profit: $93,217
• Equity at exit: $4,920

Cash invested: $15,932 (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 49423

• Rents YoY: 10.0%
• Active inventory: 257
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,875 medium
• Mortgage (P&I): −$298
• Tax est. 1.5%: −$71 /mo · $854/yr
• Insurance: −$24
• HOA: −$760
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $328

Break-even live

Break-even rent $1,460

Max offer price $56,900

Occupancy floor 78%

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: $14,225
• Closing costs: $1,707
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
54 W 35th St Holland, MI	3.0	1.0	1118	$2,600	$2.33	14d	1	0.89mi

HOA detail

• Monthly dues: $760 · $9,120/yr
• Likely covers: waterpool

Listing history 6 events

1. 2026-05-13
   price $56,900 490-char remark

   Show marketing remark (490 chars)

   Welcome To 1139 Lincoln Ave Lot 36! This Home Is A 3 Bedroom / 2 Bathroom And Has A Nice Open And Spacious Floor Plan. It Has Washer And Dryer Hook Up And I Will Include The Samsung Washer And Dryer. It Is Located In A Great Community With A Pool! Does Need Some Cosmetic Work Like Some Paint, Door Trim, Carpet. New Hot Water Heater Replaced Last Year With Ottagan Plumbing With Warranty! Central AC! This Is A Beautiful Area! You Will Need Approval With Lincoln Estates. Pets Are Welcome!

2. 2026-05-12
   price $56,900 490-char remark

   Show marketing remark (490 chars)

   Welcome To 1139 Lincoln Ave Lot 36! This Home Is A 3 Bedroom / 2 Bathroom And Has A Nice Open And Spacious Floor Plan. It Has Washer And Dryer Hook Up And I Will Include The Samsung Washer And Dryer. It Is Located In A Great Community With A Pool! Does Need Some Cosmetic Work Like Some Paint, Door Trim, Carpet. New Hot Water Heater Replaced Last Year With Ottagan Plumbing With Warranty! Central AC! This Is A Beautiful Area! You Will Need Approval With Lincoln Estates. Pets Are Welcome!

3. 2026-05-12
   price $56,900

   Show marketing remark (490 chars)

   Welcome To 1139 Lincoln Ave Lot 36! This Home Is A 3 Bedroom / 2 Bathroom And Has A Nice Open And Spacious Floor Plan. It Has Washer And Dryer Hook Up And I Will Include The Samsung Washer And Dryer. It Is Located In A Great Community With A Pool! Does Need Some Cosmetic Work Like Some Paint, Door Trim, Carpet. New Hot Water Heater Replaced Last Year With Ottagan Plumbing With Warranty! Central AC! This Is A Beautiful Area! You Will Need Approval With Lincoln Estates. Pets Are Welcome!

4. 2026-04-19
   listed $59,900 Active 490-char remark

   Show marketing remark (490 chars)

   Welcome To 1139 Lincoln Ave Lot 36! This Home Is A 3 Bedroom / 2 Bathroom And Has A Nice Open And Spacious Floor Plan. It Has Washer And Dryer Hook Up And I Will Include The Samsung Washer And Dryer. It Is Located In A Great Community With A Pool! Does Need Some Cosmetic Work Like Some Paint, Door Trim, Carpet. New Hot Water Heater Replaced Last Year With Ottagan Plumbing With Warranty! Central AC! This Is A Beautiful Area! You Will Need Approval With Lincoln Estates. Pets Are Welcome!

5. 2026-04-19
   listed $59,900 Active 490-char remark

   Show marketing remark (490 chars)

   Welcome To 1139 Lincoln Ave Lot 36! This Home Is A 3 Bedroom / 2 Bathroom And Has A Nice Open And Spacious Floor Plan. It Has Washer And Dryer Hook Up And I Will Include The Samsung Washer And Dryer. It Is Located In A Great Community With A Pool! Does Need Some Cosmetic Work Like Some Paint, Door Trim, Carpet. New Hot Water Heater Replaced Last Year With Ottagan Plumbing With Warranty! Central AC! This Is A Beautiful Area! You Will Need Approval With Lincoln Estates. Pets Are Welcome!

6. 2026-04-19
   listed $59,900 Active

   Show marketing remark (490 chars)

   Welcome To 1139 Lincoln Ave Lot 36! This Home Is A 3 Bedroom / 2 Bathroom And Has A Nice Open And Spacious Floor Plan. It Has Washer And Dryer Hook Up And I Will Include The Samsung Washer And Dryer. It Is Located In A Great Community With A Pool! Does Need Some Cosmetic Work Like Some Paint, Door Trim, Carpet. New Hot Water Heater Replaced Last Year With Ottagan Plumbing With Warranty! Central AC! This Is A Beautiful Area! You Will Need Approval With Lincoln Estates. Pets Are Welcome!

ⓘ 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: $22,498
• − Mortgage interest: −$3,187
• − Property taxes: −$854
• − Insurance: −$284
• − Repairs & maintenance: −$1,800
• − Management: −$1,800
• − HOA: −$9,120
• − Depreciation: −$1,655
• Taxable income: $3,798
• Est. tax owed @ 24.0%: −$912
• After-tax cash flow: $3,023/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.

Condition & rehab AI · 12 photos

Fair 45/100 Cosmetic rehab

This manufactured home requires cosmetic updates, including painting, replacing dated cabinets, and updating curtains, to improve its resale and rental value.

Repairs flagged

• Minor Paint — Faded paint in some areas
• Minor Carpet — Worn carpet in living areas
• Minor Kitchen cabinets — Dated cabinets

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace dated cabinets — Modern cabinets improve functionality and aesthetics
• Both Replace dated curtains — Fresh curtains enhance curb appeal and interior aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint · Faded paint in some areas	Minor	$500–3,000
Carpet · Worn carpet in living areas	Minor	$500–3,000
Kitchen cabinets · Dated cabinets	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace dated cabinets — Modern cabinets improve functionality and aesthetics ↑
• Both Replace dated curtains — Fresh curtains enhance curb appeal and interior aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Holland City School District
• NCES district ID: 2618420
• Math proficiency: 26% ▼ -6.00%
• Reading proficiency: 43% ▼ -2.00%
• Median HH income: $47,880
• Composite: 29.67/100
• National rank: #6463
• State rank: #292 of 540 in MI

Livability — Holland

• Score: 82/100
• State rank: #46
• US rank: #1066

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Holland, MI
• County: Allegan County · 47,060 people
• City population: 96,870
• Metro: Holland, MI
• Population (ZIP): 47,060
• Household income: $81,858
• Rent vs Own: 25.4% rent · 74.6% own
• Severe rent burden: 875.0

Population outlook (Allegan County) Hauer SSP2

• Today (2025): 120,251 people
• By 2030: 122,204 · +1.6%
• By 2040: 123,979 · +3.1%
• By 2050: 122,340 · +1.7%
• By 2075: 116,088 · -3.5%
• By 2100: 98,461 · -18.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 19% Two or more races 10% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 15% Puerto Rican 1% Cuban 1%
• Common ancestry: Iranian 29% Romanian 4% Slovak 2%
• Foreign-born: 7% · Canada, Vietnam
• Languages at home: 87% English-only · Spanish 10% Other Asian/Pacific 1%

Political lean MEDSL · Allegan

• 2024 margin: Strong R (+27.2) · D 35.7% · R 62.9% · Other 1.5%
• 2008→2024 swing: -16.5pp toward R · 2008: -10.7pp · 2024: -27.2pp
• All cycles: 2024: R+27.2 2020: R+25.2 2016: R+28.8 2012: R+19.2 2008: R+10.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -305.61%
• Current HPI: 252.0602
• Rent YoY: ▲ 10.00%
• Metro: Holland, 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

-5.0% since first listed

6 events — show timeline

• 2026-05-13 Price Changed $56,900 MiRealSource-MiMLS
• 2026-05-12 Price Changed $56,900 REALCOMP
• 2026-05-12 Price Changed $56,900 SW Michigan MLS
• 2026-04-19 Listed $59,900 REALCOMP
• 2026-04-19 Listed $59,900 SW Michigan MLS
• 2026-04-19 Listed $59,900 MiRealSource-MiMLS