37319 Stone Way · Lenox, MI 48048

$129,900

3 bd · 2.0 ba · 2,100 sqft · Manufactured · 92 Days on market

Built 2020 Good condition 8,712 sqft lot $62/sqft · 58% below area ↓ 13% 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 +28.5/30.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this bright and inviting home featuring an open floor plan filled with natural light from an abundance of windows. This well-maintained property offers three spacious bedrooms and two full bathrooms, providing comfortable living with plenty of room to spread out. The layout creates a seamless flow between living spaces, ideal for everyday living or entertaining. Recent updates include new flooring throughout, a new roof, new central air unit, updated ceiling fans, and new faucets, offering peace of mind for the next owner. Select furniture may be included with the sale, adding extra convenience. Community amenities include a pool, clubhouse, fitness center, playground, picnic area, basketball courts, and walking trails - perfect for an active and social lifestyle. A great opportunity for first-time buyers or those looking to downsize.

Key facts

• Open floor plan
• New flooring
• Natural light

Tags

• OPEN FLOOR PLAN
• NATURAL LIGHT
• NEW FLOORING
• NEW ROOF
• NEW CENTRAL AIR UNIT
• UPDATED CEILING FANS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $130k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $425 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $118k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Anchor Bay School District (suburban): math 44% / reading 54% proficiency, ranked #91 of 540 in MI (top 17%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: 101 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,321 units permitted in Macomb County in 2024 (86 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Macomb County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $118,209 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% 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: 1.29% ✓
• Cap rate: 10.22%
• Cash-on-cash: 14.01%
• DSCR: 1.62
• GRM: 6.5

CMA / ARV

• ARV (median comp): $306,180
• List price: $129,900
• Delta: -57.57%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
57435 Mill Point Rd	0.17mi	3/2.0	1,800 (-14%)	11mo	$162,870	$90	59

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: 4.3%
• Equity multiple: 1.17×
• Total profit: $6,028
• Equity at exit: $19,369

10-year hold

• IRR: 13.8%
• Equity multiple: 2.10×
• Total profit: $40,187
• Equity at exit: $11,231

Cash invested: $36,372 (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 48048

• Active inventory: 101
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,674 medium
• Mortgage (P&I): −$681
• Tax est. 1.5%: −$162 /mo · $1,948/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $425

Break-even live

Break-even rent $1,136

Max offer price $129,900

Occupancy floor 70%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
37781 Sandstone Trl New Haven, MI	3.0	2.0	1624	$1,674	$1.03	1d	1	0.16mi

Listing history 21 events

1. 2026-06-18
   days on market $129,900 Active 92 DOM
2. 2026-06-17
   days on market $129,900 Active 91 DOM
3. 2026-06-16
   days on market $129,900 Active 90 DOM
4. 2026-06-15
   days on market $129,900 Active 89 DOM
5. 2026-06-13
   days on market $129,900 Active 87 DOM
6. 2026-06-09
   days on market $129,900 Active 83 DOM
7. 2026-06-08
   days on market $129,900 Active 82 DOM
8. 2026-06-07
   days on market $129,900 Active 81 DOM
9. 2026-06-04
   days on market $129,900 Active 78 DOM
10. 2026-06-03
    days on market $129,900 Active 77 DOM
11. 2026-06-02
    days on market $129,900 Active 76 DOM
12. 2026-06-01
    days on market $129,900 Active 75 DOM
13. 2026-05-31
    days on market $129,900 Active 74 DOM
14. 2026-05-01
    price $129,900 857-char remark

    Show marketing remark (857 chars)

    Welcome to this bright and inviting home featuring an open floor plan filled with natural light from an abundance of windows. This well-maintained property offers three spacious bedrooms and two full bathrooms, providing comfortable living with plenty of room to spread out. The layout creates a seamless flow between living spaces, ideal for everyday living or entertaining. Recent updates include new flooring throughout, a new roof, new central air unit, updated ceiling fans, and new faucets, offering peace of mind for the next owner. Select furniture may be included with the sale, adding extra convenience. Community amenities include a pool, clubhouse, fitness center, playground, picnic area, basketball courts, and walking trails - perfect for an active and social lifestyle. A great opportunity for first-time buyers or those looking to downsize.

15. 2026-04-30
    price $129,900 861-char remark

    Show marketing remark (861 chars)

    Welcome to this bright and inviting home featuring an open floor plan filled with natural light from an abundance of windows. This well-maintained property offers three spacious bedrooms and two full bathrooms, providing comfortable living with plenty of room to spread out. The layout creates a seamless flow between living spaces, ideal for everyday living or entertaining. Recent updates include new flooring throughout, a new roof, new central air unit, updated ceiling fans, and new faucets, offering peace of mind for the next owner. Select furniture may be included with the sale, adding extra convenience. Community amenities include a pool, clubhouse, fitness center, playground, picnic area, basketball courts, and walking trails—perfect for an active and social lifestyle. A great opportunity for first-time buyers or those looking to downsize.

16. 2026-04-23
    price $149,900 857-char remark

    Show marketing remark (861 chars)

    Welcome to this bright and inviting home featuring an open floor plan filled with natural light from an abundance of windows. This well-maintained property offers three spacious bedrooms and two full bathrooms, providing comfortable living with plenty of room to spread out. The layout creates a seamless flow between living spaces, ideal for everyday living or entertaining. Recent updates include new flooring throughout, a new roof, new central air unit, updated ceiling fans, and new faucets, offering peace of mind for the next owner. Select furniture may be included with the sale, adding extra convenience. Community amenities include a pool, clubhouse, fitness center, playground, picnic area, basketball courts, and walking trails—perfect for an active and social lifestyle. A great opportunity for first-time buyers or those looking to downsize.

17. 2026-04-23
    price $149,900 861-char remark

    Show marketing remark (861 chars)

    Welcome to this bright and inviting home featuring an open floor plan filled with natural light from an abundance of windows. This well-maintained property offers three spacious bedrooms and two full bathrooms, providing comfortable living with plenty of room to spread out. The layout creates a seamless flow between living spaces, ideal for everyday living or entertaining. Recent updates include new flooring throughout, a new roof, new central air unit, updated ceiling fans, and new faucets, offering peace of mind for the next owner. Select furniture may be included with the sale, adding extra convenience. Community amenities include a pool, clubhouse, fitness center, playground, picnic area, basketball courts, and walking trails—perfect for an active and social lifestyle. A great opportunity for first-time buyers or those looking to downsize.

18. 2026-04-08
    price $139,900 857-char remark

    Show marketing remark (857 chars)

    Welcome to this bright and inviting home featuring an open floor plan filled with natural light from an abundance of windows. This well-maintained property offers three spacious bedrooms and two full bathrooms, providing comfortable living with plenty of room to spread out. The layout creates a seamless flow between living spaces, ideal for everyday living or entertaining. Recent updates include new flooring throughout, a new roof, new central air unit, updated ceiling fans, and new faucets, offering peace of mind for the next owner. Select furniture may be included with the sale, adding extra convenience. Community amenities include a pool, clubhouse, fitness center, playground, picnic area, basketball courts, and walking trails - perfect for an active and social lifestyle. A great opportunity for first-time buyers or those looking to downsize.

19. 2026-04-07
    price $139,900 861-char remark

    Show marketing remark (861 chars)

    Welcome to this bright and inviting home featuring an open floor plan filled with natural light from an abundance of windows. This well-maintained property offers three spacious bedrooms and two full bathrooms, providing comfortable living with plenty of room to spread out. The layout creates a seamless flow between living spaces, ideal for everyday living or entertaining. Recent updates include new flooring throughout, a new roof, new central air unit, updated ceiling fans, and new faucets, offering peace of mind for the next owner. Select furniture may be included with the sale, adding extra convenience. Community amenities include a pool, clubhouse, fitness center, playground, picnic area, basketball courts, and walking trails—perfect for an active and social lifestyle. A great opportunity for first-time buyers or those looking to downsize.

20. 2026-03-18
    listed $149,900 Active 861-char remark

    Show marketing remark (857 chars)

    Welcome to this bright and inviting home featuring an open floor plan filled with natural light from an abundance of windows. This well-maintained property offers three spacious bedrooms and two full bathrooms, providing comfortable living with plenty of room to spread out. The layout creates a seamless flow between living spaces, ideal for everyday living or entertaining. Recent updates include new flooring throughout, a new roof, new central air unit, updated ceiling fans, and new faucets, offering peace of mind for the next owner. Select furniture may be included with the sale, adding extra convenience. Community amenities include a pool, clubhouse, fitness center, playground, picnic area, basketball courts, and walking trails - perfect for an active and social lifestyle. A great opportunity for first-time buyers or those looking to downsize.

21. 2026-03-18
    listed $149,900 Active 857-char remark

    Show marketing remark (857 chars)

    Welcome to this bright and inviting home featuring an open floor plan filled with natural light from an abundance of windows. This well-maintained property offers three spacious bedrooms and two full bathrooms, providing comfortable living with plenty of room to spread out. The layout creates a seamless flow between living spaces, ideal for everyday living or entertaining. Recent updates include new flooring throughout, a new roof, new central air unit, updated ceiling fans, and new faucets, offering peace of mind for the next owner. Select furniture may be included with the sale, adding extra convenience. Community amenities include a pool, clubhouse, fitness center, playground, picnic area, basketball courts, and walking trails - perfect for an active and social lifestyle. A great opportunity for first-time buyers or those looking to downsize.

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,088
• − Mortgage interest: −$7,276
• − Property taxes: −$1,948
• − Insurance: −$650
• − Repairs & maintenance: −$1,607
• − Management: −$1,607
• − Depreciation: −$3,779
• Taxable income: $3,221
• Est. tax owed @ 24.0%: −$773
• After-tax cash flow: $4,324/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

Good 75/100 Cosmetic rehab

This well-maintained mobile home features an open floor plan with new roof and central air, making it a good investment opportunity with minor updates needed for a fresh look.

Repairs flagged

• Minor kitchen cabinets — dated cabinetry
• Minor bathroom fixtures — dated fixtures

Value-add opportunities

• Resale update kitchen cabinets — modernizing the kitchen
• Resale update bathroom fixtures — modernizing the bathrooms
• Both landscaping — enhances curb appeal and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated cabinetry	Minor	$500–3,000
bathroom fixtures · dated fixtures	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Resale update kitchen cabinets — modernizing the kitchen ↑
• Resale update bathroom fixtures — modernizing the bathrooms ↑
• Both landscaping — enhances curb appeal and adds value ↑

ⓘ 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: Anchor Bay School District
• NCES district ID: 2602790
• Math proficiency: 44% ▼ -12.00%
• Reading proficiency: 54% ▼ -7.00%
• Median HH income: $70,173
• Composite: 43.85/100
• National rank: #2925
• State rank: #91 of 540 in MI

Livability — Lenox

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 11,065

Population outlook (Macomb County) Hauer SSP2

• Today (2025): 925,296 people
• By 2030: 948,226 · +2.5%
• By 2040: 983,961 · +6.3%
• By 2050: 1,010,200 · +9.2%
• By 2075: 1,076,222 · +16.3%
• By 2100: 1,077,065 · +16.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Black 13% Two or more races 10% Hispanic / Latino 4%
• Common ancestry: Romanian 10% Italian 7% Lithuanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Macomb

• 2024 margin: R (+13.7) · D 42.2% · R 55.9% · Other 1.9%
• 2008→2024 swing: -22.3pp toward R · 2008: 8.6pp · 2024: -13.7pp
• All cycles: 2024: R+13.7 2020: R+8.1 2016: R+11.6 2012: D+4.0 2008: D+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -147.74%
• Current HPI: 242.3675
• 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

-13.3% since first listed

8 events — show timeline

• 2026-05-01 Price Changed $129,900 MiRealSource-MiMLS
• 2026-04-30 Price Changed $129,900 REALCOMP
• 2026-04-23 Price Changed $149,900 MiRealSource-MiMLS
• 2026-04-23 Price Changed $149,900 REALCOMP
• 2026-04-08 Price Changed $139,900 MiRealSource-MiMLS
• 2026-04-07 Price Changed $139,900 REALCOMP
• 2026-03-18 Listed $149,900 REALCOMP
• 2026-03-18 Listed $149,900 MiRealSource-MiMLS