88 Clover Trl · Wayland, MI 49348

$149,900

4 bd · 2.5 ba · 1,976 sqft · SingleFamily · 1 Days on market

Built 1998 0.41 ac lot $23/mo HOA · 1% of rent

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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 +21.9/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +5.9/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

1998 Doublewide with 1976 sq ft. Master Suite with walk-in closet and private bath. 2 additional bedrooms, one has a wood floor. Spacious Living Room/Family Room with fireplace. 1.5 additional bathrooms. Kitchen has center island, side by side refrig. , stove and dishwasher. Water line has been installed to the refrig. Washer & Dryer included. Central Air and Furnace replaced in 2021. Back yard is fenced in. Large lot, room for a garage or pole barn. 3 apple trees in yard. Needs a little TLC. Close to Gun Lake water sports. One mile to grocery store.

Key facts

• Walk-in closet
• Private bath
• Fenced in

Tags

• WALK-IN CLOSET
• PRIVATE BATH
• FIREPLACE
• CENTER ISLAND
• FENCED IN
• LARGE LOT

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $235 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 8.2% vs local median 1.7% in Wayland — 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 77/100 on livability (#117 in MI, #2,796 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Wayland Union Schools (town): math 45% / reading 51% proficiency, ranked #110 of 540 in MI (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 94 active listings in the ZIP; 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 $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 13 sale attempts since 9y ago 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.
• Current owner paid $82k; list at $150k implies a 83% gain — meaningful room to come down on a strong offer.

Recommended offer $149,900

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.09% ✓
• Cap rate: 8.18%
• Cash-on-cash: 6.73%
• DSCR: 1.30
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $393,224
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
35 Cannonball Ln	0.37mi	3/2.0 (-1)	1,906 (-4%)	5mo	$318,000	$167	65
2690 Jolly Roger Dr	0.32mi	4/2.0	2,024 (+2%)	19mo	$331,100	$164	63
2681 Cutlass St	0.41mi	4/2.0	2,188 (+11%)	2mo	$347,000	$159	60
2065 S Patterson Rd	0.58mi	3/2.0 (-1)	1,920 (-3%)	7mo	$459,500	$239	56
12908 Sunrise Ct	0.55mi	3/2.5 (-1)	1,853 (-6%)	9mo	$860,000	$464	52
2677 Cutlass St	0.42mi	4/2.0	2,186 (+11%)	13mo	$358,000	$164	50
2749 Russell Dr	0.73mi	3/2.5 (-1)	2,116 (+7%)	7mo	$860,000	$406	43
2061 S Patterson Rd	0.59mi	3/2.5 (-1)	1,800 (-9%)	17mo	$555,000	$308	39
2795 1st St	0.51mi	3/2.0 (-1)	1,680 (-15%)	16mo	$335,000	$199	30

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: -5.9%
• Equity multiple: 0.78×
• Total profit: $-9,255
• Equity at exit: $22,351

10-year hold

• IRR: 3.7%
• Equity multiple: 1.27×
• Total profit: $11,409
• Equity at exit: $12,961

Cash invested: $41,972 (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 49348

• Active inventory: 94
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,638 medium
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$23
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $235

Break-even live

Break-even rent $1,340

Max offer price $149,900

Occupancy floor 81%

Sensitivity live

Price	-10% $339	-5% $287	+0% $235	+5% $184	+10% $132
Rent	-10% $106	-5% $171	+0% $235	+5% $300	+10% $365
Rate	-1.0pp $311	-0.5pp $274	base $235	+0.5pp $197	+1.0pp $157

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $23 · $276/yr
• Likely covers: water

Listing history 34 events

1. 2026-03-18
   status Pending 562-char remark

   Show marketing remark (562 chars)

   1998 Doublewide with 1976 sq ft. Master Suite with walk-in closet and private bath. 2 additional bedrooms, one has a wood floor. Spacious Living Room/Family Room with fireplace. 1.5 additional bathrooms. Kitchen has center island, side by side refrig. , stove and dishwasher. Water line has been installed to the refrig. Washer & Dryer included. Central Air and Furnace replaced in 2021. Back yard is fenced in. Large lot, room for a garage or pole barn. 3 apple trees in yard. Needs a little TLC. Close to Gun Lake water sports. One mile to grocery store.

2. 2026-03-18
   status Pending 562-char remark

   Show marketing remark (562 chars)

   1998 Doublewide with 1976 sq ft. Master Suite with walk-in closet and private bath. 2 additional bedrooms, one has a wood floor. Spacious Living Room/Family Room with fireplace. 1.5 additional bathrooms. Kitchen has center island, side by side refrig. , stove and dishwasher. Water line has been installed to the refrig. Washer & Dryer included. Central Air and Furnace replaced in 2021. Back yard is fenced in. Large lot, room for a garage or pole barn. 3 apple trees in yard. Needs a little TLC. Close to Gun Lake water sports. One mile to grocery store.

3. 2026-03-17
   status Pending
4. 2026-03-14
   listed $149,900 Active 562-char remark

   Show marketing remark (562 chars)

   1998 Doublewide with 1976 sq ft. Master Suite with walk-in closet and private bath. 2 additional bedrooms, one has a wood floor. Spacious Living Room/Family Room with fireplace. 1.5 additional bathrooms. Kitchen has center island, side by side refrig. , stove and dishwasher. Water line has been installed to the refrig. Washer & Dryer included. Central Air and Furnace replaced in 2021. Back yard is fenced in. Large lot, room for a garage or pole barn. 3 apple trees in yard. Needs a little TLC. Close to Gun Lake water sports. One mile to grocery store.

5. 2026-03-14
   listed $149,900 Active 562-char remark

   Show marketing remark (562 chars)

   1998 Doublewide with 1976 sq ft. Master Suite with walk-in closet and private bath. 2 additional bedrooms, one has a wood floor. Spacious Living Room/Family Room with fireplace. 1.5 additional bathrooms. Kitchen has center island, side by side refrig. , stove and dishwasher. Water line has been installed to the refrig. Washer & Dryer included. Central Air and Furnace replaced in 2021. Back yard is fenced in. Large lot, room for a garage or pole barn. 3 apple trees in yard. Needs a little TLC. Close to Gun Lake water sports. One mile to grocery store.

6. 2026-03-14
   listed $149,900 Active

   Show marketing remark (562 chars)

   1998 Doublewide with 1976 sq ft. Master Suite with walk-in closet and private bath. 2 additional bedrooms, one has a wood floor. Spacious Living Room/Family Room with fireplace. 1.5 additional bathrooms. Kitchen has center island, side by side refrig. , stove and dishwasher. Water line has been installed to the refrig. Washer & Dryer included. Central Air and Furnace replaced in 2021. Back yard is fenced in. Large lot, room for a garage or pole barn. 3 apple trees in yard. Needs a little TLC. Close to Gun Lake water sports. One mile to grocery store.

7. 2021-04-23
   soldstatus $82,000 Sold
8. 2021-04-23
   soldstatus $82,000 Sold
9. 2021-02-24
   status Pending
10. 2021-02-24
    status Pending
11. 2021-02-18
    historical Contingent - Continue To Show
12. 2021-02-18
    historical Active Contingent
13. 2021-01-25
    price $84,900
14. 2021-01-25
    price $84,900
15. 2021-01-13
    status Active
16. 2020-10-26
    status Pending
17. 2020-10-23
    historical Active Contingent
18. 2020-10-08
    price $94,900
19. 2020-09-28
    status Active
20. 2020-09-14
    status Pending
21. 2020-09-14
    historical Active Contingent
22. 2020-08-17
    listed $94,900 Active
23. 2020-08-17
    listed $104,000 Active
24. 2020-08-17
    listed $84,900
25. 2020-07-24
    historical
26. 2020-07-23
    historical
27. 2020-01-23
    listed $125,000
28. 2020-01-23
    listed $125,000
29. 2018-04-11
    historical
30. 2018-04-11
    historical
31. 2018-01-03
    listed $79,900
32. 2018-01-03
    listed $79,900
33. 2017-12-30
    historical
34. 2017-07-12
    listed $109,900

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,662
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$1,573
• − Management: −$1,573
• − HOA: −$276
• − Depreciation: −$4,361
• Taxable income: $484
• Est. tax owed @ 24.0%: −$116
• After-tax cash flow: $2,709/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: Wayland Union Schools
• NCES district ID: 2635550
• Math proficiency: 45% ▼ -11.00%
• Reading proficiency: 51% ▼ -5.00%
• Median HH income: $58,432
• Composite: 41.92/100
• National rank: #3359
• State rank: #110 of 540 in MI

Livability — Wayland

• Score: 77/100
• State rank: #117
• US rank: #2796

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 13,607

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 (88%)
• Race & ethnicity: White 88% Two or more races 6% Hispanic / Latino 5% Black 2% Asian 2%
• Common ancestry: Iranian 24% Romanian 6% Lithuanian 4%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Vietnamese 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: ▼ -150.52%
• Current HPI: 251.5261
• 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

+36.4% since first listed

34 events — show timeline

• 2026-03-18 Pending — MiRealSource-MiMLS
• 2026-03-18 Pending — REALCOMP
• 2026-03-17 Pending — SW Michigan MLS
• 2026-03-14 Listed $149,900 SW Michigan MLS
• 2026-03-14 Listed $149,900 REALCOMP
• 2026-03-14 Listed $149,900 MiRealSource-MiMLS
• 2021-04-23 Sold (MLS) $82,000 SW Michigan MLS
• 2021-04-23 Sold (MLS) $82,000 REALCOMP
• 2021-02-24 Pending — REALCOMP
• 2021-02-24 Pending — SW Michigan MLS
• 2021-02-18 Contingent — REALCOMP
• 2021-02-18 Contingent — SW Michigan MLS
• 2021-01-25 Price Changed $84,900 REALCOMP
• 2021-01-25 Price Changed $84,900 SW Michigan MLS
• 2021-01-13 Relisted — SW Michigan MLS
• 2020-10-26 Pending — SW Michigan MLS
• 2020-10-23 Contingent — SW Michigan MLS
• 2020-10-08 Price Changed $94,900 SW Michigan MLS
• 2020-09-28 Relisted — SW Michigan MLS
• 2020-09-14 Pending — SW Michigan MLS
• 2020-09-14 Contingent — SW Michigan MLS
• 2020-08-17 Listed $84,900 MiRealSource-MiMLS
• 2020-08-17 Listed $104,000 SW Michigan MLS
• 2020-08-17 Listed $94,900 REALCOMP
• 2020-07-24 Listing Removed — MiRealSource-MiMLS
• 2020-07-23 Listing Removed — REALCOMP
• 2020-01-23 Listed $125,000 MiRealSource-MiMLS
• 2020-01-23 Listed $125,000 REALCOMP
• 2018-04-11 Listing Removed — MiRealSource-MiMLS
• 2018-04-11 Listing Removed — REALCOMP
• 2018-01-03 Listed $79,900 MiRealSource-MiMLS
• 2018-01-03 Listed $79,900 REALCOMP
• 2017-12-30 Listing Removed — REALCOMP
• 2017-07-12 Listed $109,900 REALCOMP